College Cash 101

Although I've been writing for years about financing college, I've never before received so many letters like this one from Philip I., who is a mortgage consultant in New England: "I am panicked. My son is a junior in high school. Any ideas would be helpful." Many parents are reeling from big financial losses at the same time they are shocked by college price tags, confused by all the nitpicky rules, and scared that they'll ruin their children's future if they can't figure out some way to get them through college.

Luckily, we've put together advice from financial aid experts—including lots of parents who managed to pay tuition without going bankrupt. A basic primer to financial aid can be found here.

While every student and family is unique, there are four principles that apply to everybody:

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