{"id":41116,"date":"2020-05-05T07:58:17","date_gmt":"2020-05-05T15:58:17","guid":{"rendered":"https:\/\/www.credible.com\/blog\/?p=41116"},"modified":"2022-10-27T07:25:52","modified_gmt":"2022-10-27T14:25:52","slug":"parents-paying-for-college-tips-and-advice","status":"publish","type":"post","link":"https:\/\/www.credible.com\/blog\/student-loans\/parents-paying-for-college\/","title":{"rendered":"Parents Paying for College: Tips and Advice"},"content":{"rendered":"

The cost of going to college can be steep \u2014 and 43% of that cost is typically covered by family income and savings, according to Sallie Mae<\/a>. This makes parents paying for college the biggest source of college funds for many students.<\/p>\n

The average college degree costs<\/a> anywhere from $25,890 as an in-state public school student up to $52,500 at a private nonprofit college annually. This means parents can spend quite a bit on their child\u2019s education.<\/p>\n

Here are four ways to help your student with college expenses:<\/b><\/p>\n

    \n
  1. Set up a savings account early on<\/a><\/li>\n
  2. Help your student fill out the FAFSA<\/a><\/li>\n
  3. Take out a parent loan<\/a><\/li>\n
  4. Cosign a student loan with your child<\/a><\/li>\n<\/ol>\n

    <\/a><\/p>\n

    1. Set up a savings account early on<\/h2>\n

    You can start saving for your child\u2019s college education at any time. The earlier you start saving, the better \u2014 but it\u2019s never too late to start putting money away.<\/p>\n

    Here are two types of accounts that can help you save for your child\u2019s future college education:<\/p>\n