paying for college....how? Many ?'s

Talk to the school's financial aid office, they should be able to guide you through the process.

you can also talk to your bank and see if they can help

We made DD be more proactive than that. We made her apply early to get merit scholarships. We knew we didn't qualify for need based aid. If she didn't get those she was going to the cheapest state school we have. We have to keep costs under $20,000 a year to aviod loans.

Be careful with the loans if you do take them. One of the loans we were offered required payback to begin immediately. So read the fine print.

I don't really know what to tell you about the type of loan to get, but I can share this with you. (We are all about learning from other people's expensive mistakes!)

We have good friends with two (now adult) kids. They didn't qualify for any financial aid for either kid. When the oldest went off to school, the parents paid for the whole year up front out of pocket. Kid went to Colorado skiing on winter break, decided it was more fun than school, never went back and didn't say a word to his parents for months! Parents lost the whole first year's tuition in one fell swoop.

Second kid went off to college. Parents took out loans with the kid's name attached semester by semester. If he performed and got at least a C average or better, they paid off the loan for that semester and took out another loan. If the kid didn't get decent grades, they would have let the loan stand and the kid could pay it back himself.

Needless to say, the second kid made good grades and graduated on time. The older kid finally did get his act together and finished school, but it took him a lot longer and cost HIM more money because the parents weren't going to pay for his foolishness.

I just wanted to add that even though your son or daughter may not qualify for grants, most students do receive "aid". The interest on student loans are covered by taxpayers while the student is in college, which is a form of "aid". Work-Study programs are also a form of "aid". Some of the parent loans' interest are covered by taxpayers which is another form of "aid".  In addition, the college may offer scholarship money based on GPA and ACT/SAT scores. That is also a form of "aid".

Financial aid encompasses more than grants.

Talk to the financial aid office at the college, the staff is well versed in financing college education.

The college guidance counselor at my daughter school told us that paying for college just like buying a car. Nobody pays sticker price . So, in addition to the all the other advice given to you make sure you talk to the college too

State schools, unfortunately, (At least in PA.) do have a set price that is pretty much set in stone. We have some of the highest state tuition in the nation. So if you live in PA and need to finance your own or your kid's education I recommend staking out your street corner early to make a little extra income. ( Joking ...... Sort of....)

I only have one piece of advice...given to me by a friend $40K in debt for her dd's student loans. Don't take out the parent loan. Have your child take out the loans, and when it comes time to repay you pay them. My friend, even though her dd works for a nonprofit and qualifies for student loan forgiveness, cannot get any of the debt forgiven because they are in her name, not her dd's.

When my kids got their FAFSA awards, they only qualified for loans. The loans were part of what the school notified them they qualified for.

Now one son is 24 and that is the year they use only their own income, so this year he qualified for a $6000 Pell Grant.

It's probably too late for this year, but something to consider are the private colleges. DS is graduating this week and applied to 2 private and 2 public schools. He was offered no aid on it's own at the state schools, but one of the private schools offers merit based aid. Based on his test scores, grades, and classes, he is getting about $30,000 a year in merit aid. Add in the credits offered for his AP classes, and he has a nice package that made a private school much more affordable for our family than a state school.

Dual enrollment is another great way for a HS student to help pay for college. Many HS's offer it as part of the curriculum at no charge to the family. For DS, it wouldn't have helped, as his AP classes took care of many of his non-major requirements and his engineering classes were too specialized to work with the local CC. Not to mention that at our HS, the kids go off campus for those dual enrollment classes. For kids in sports or intensive after school activities, the logistics of driving back and forth 30 minutes each way just didn't work. But it's an excellent option for many.

But they can offset the price with aid or grants, even work-study programs. Good luck.

Exactly. Private schools can offer other types of aid. Public universities do not in PA. Private scholarships can be applied to your balance. As far as work study goes, just because you qualify doesn't mean there is a job available at your school. To add insult to injury, even if you graduate at the top of your class you will very likely get overlooked when applying to a state school for graduate school. Many of the spots including graduate assistantships go to out of state students. Public higher education in PA is a mess!

Honestly, this is not smart financial planning.  Do you know how the rich get richer?  They make their money work for them, and the more money they can make work for them, the richer they get.  A loan in your niece's name, if money is needed, is the smarter choice.  And if loaned money can make more money for you than the interest you pay back, well that's how the rich get richer.  No need to count on loan forgiveness.  That would be the mistake here.

 Loaned money might make you more money than the interest you pay back. However, taxes on that earned money have to be considered. Honestly, it might be better to just start planning early and when the child is an infant, start a college 529 plan and/or a Coverdell Education Account (there is also the UGMA). Then you might be able to avoid or minimize student loans altogether. Sorry, I got off the original topic.

Personally, I would not take a parent plus loan. I'd rather the kid stay home for a year or two and work. Bank all that money and then go to school with loans in their name (if loans are still needed).

And you are very correct also. this is why my parents believed in cash flowing our educations as the best means for them. my parents invested in real estate. when it came time to put us through college and one of my siblings through law school, it was the income from those properties that cash flowed our education. no loans were ever taken out. when we graduated, we were all student debt free. in the meantime, I know people who are still paying on their student loans years after graduating. it affects what other loans they can get. 

loans versus no loans can be debated forever. families just have to do what works for them depending on their means and their ability to repay. it can be a slippery slope but if you do your homework, you can find the best funding solution for your family.