Parents play a key role in helping their children make smart decisions about important things in their lives. And that certainly applies to the ones they make about going to college. Besides getting the saving-for-college process started early, parents can help by reinforcing the importance of making smart borrowing choices today that will impact their children's future. Parents can also help by becoming cosigners Cosigner/Co-borrower - An additional applicant added to a loan to meet the creditworthiness guidelines, usually a parent but not always. A cosigner will have the same legal responsibility on the loan as the primary borrower. for their children's loan. Parents with a good credit rating may not only improve the chances of the loan's approval, but they could also lower the rate.
Advice for connecting with and staying connected to teens as you talk through decisions about college.
Describes categories of expenses when attending college so you can prepare a budget.
This information from College Parents of America gives parents advice on how to begin to talk about financial matters such as budgeting, paying bills and managing accounts with their children.
A comprehensive guide from the Department of Education with all the information about major Federal Student Aid programs in one printable brochure for easy reference.