Parents start worrying about how to finance their child’s college education in the spring. Their child has received one or more offers of college admission and has chosen a college. Now, they need to figure out how to pay for it.
But, parents who don’t have any recent experience paying for college often make several mistakes.
These are some of the more common mistakes parents make.
Failing to Consider Financial Fit
The student chooses a college without knowing whether their parents have enough money to pay for it. They want to go to the college with the best reputation, which may also be the most expensive college. They don’t consider whether the college is affordable.