The time has finally arrived—your child will soon be entering college. You’ve been dreaming, planning and, not to mention, SAVING for this day since your child could barely walk. Now that you have the college bills in hand and have furnished the dorm room and looked at the book list, are you still coming up short?

The time has finally arrived—your child will soon be entering college. You’ve been dreaming, planning and, not to mention, SAVING for this day since your child could barely walk. Now that you have the college bills in hand and have furnished the dorm room and looked at the book list, are you still coming up short? You are not alone in this situation! Despite your best efforts, changing economic conditions and escalating tuition costs could mean that what you have saved now may not be enough. Make sure you plan this last bit of financing just as carefully as you have the rest of your savings.

Making up that shortfall often requires a combination of financial aid, loans and other sources. By now, you know what the college will provide in the way of scholarships and grants. It’s not too late to apply for education loans, and with new higher loan limits, you’re eligible for a bit more assistance in the upcoming academic year.

If the student’s financial needs exceed what is awarded through grants, scholarships, work-study programs and/or federal student loans, the parent or guardian will need to consider outside sources to help bridge the gap. The silver lining in this cloud is that there are several financing options available that will fit a variety of needs.

Options to Consider

Be Prepared

The information you’ll need when applying for these loans varies by the loan and financial institution. So be sure to contact the financial institution or check online before starting your application. In most cases, you can apply and even sign your loan documents online!

Things to Remember