Financially affording a college education can feel overwhelming for both students and parents. Thankfully, there are many resources and planning tools to make funding achievable. Here are 7 financial resources to help high school students and parents navigate the college financial landscape:
1. 529 Plans
Start saving early for college with a tax-advantaged 529 plan. These investment accounts offer special tax benefits when used for qualified education expenses. Many states offer 529 plans. My family uses the New York’s 529 College Savings Program – Direct Plan.
(Grandparents, family and friends can also set up accounts with the student as a beneficiary.)
2. College Net Price Calculator – collegecost.ed.gov/net-price
Estimate college affordability with this free tool. You can use it to quickly determine how much you will need to pay for each of your child’s potential colleges. Every college website is required to have this calculator, but you can also find links on the Department of Education’s Net Price Calculator Center.
3. CSS Profile – https://cssprofile.collegeboard.org/
Many colleges use the CSS Profile to award non-federal government financial aid, grants and scholarships. You can check participating schools and scholarships as well as learn how to apply on the College Board’s CSS Profile page. There, you can find information about eligible schools, scholarships, and application instructions.
4. FAFSA – https://studentaid.gov/
The Free Application for Federal Student Aid (FAFSA) is key to securing federal financial aid to help pay for college. It helps determine college funding in the form of scholarships, grants, work-study programs, and student loans.
FAFSA is also used to determine eligibility for some state and college-based aid programs. Early submission is crucial as funds are often limited. The 2025–26 FAFSA form will be available to the public on or before Dec. 1, 2024.
5. Sallie Mae – www.salliemae.com
Sallie Mae is not just for college loans. Their website provides free college planning resources and a scholarship search tool to help students plan for college financially.
6. Free Scholarship Search Services
There are many reputable FREE private scholarship platforms available like FastWeb and Appily. They are great starting points for your scholarship search.
7. U.S. Department of Education – http://www.ed.gov/
The Department of Education provides valuable information on federal grants, loans, and other financial aid programs to help finance a college education.