Financial Planning for College
Make smart financial decisions about higher education. Minimize student debt, maximize financial aid, and plan a budget that gets you through graduation.
Phase-by-Phase Planning Guide
Planning & Financial Aid
Estimate total costs, apply for financial aid and scholarships, and compare school affordability.
Funding & Enrollment
Accept financial aid packages, set up loan repayment awareness, and establish your college budget.
During College
Manage your money while in school, avoid unnecessary debt, and build good financial habits early.
Graduation & Repayment
Transition to repayment, choose the right plan, and start building your post-college financial life.
Your Financial Checklist
Financial Checklist
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- Fill out the FAFSA as early as possible (opens October 1)
- Apply for at least 10 scholarships
- Compare total cost of attendance across schools (not just tuition)
- Exhaust federal loans before considering private loansUse Student Loan Calculator →
- Create a semester-by-semester budgetUse Budget Calculator →
- Look for work-study or part-time job opportunities
- Buy or rent textbooks used or digital when possible
- Understand your loan grace period and repayment start dateUse Student Loan Calculator →
- Research income-driven repayment plans before graduation
- Start building an emergency fund, even with small amounts
Expert Tips
The average 4-year college degree costs over $100,000. Community college for the first 2 years can cut that in half.
Federal student loans have lower interest rates and better protections than private loans. Always borrow federal first.
Every $1,000 in scholarships you earn is $1,000+ you do not have to repay with interest.
Interest on unsubsidized loans starts accruing immediately. Making interest-only payments while in school saves thousands.
Income-driven repayment plans cap your monthly payment at 10-20% of discretionary income and forgive the balance after 20-25 years.
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