loans

There are several ways to pay for college -- saving money, earning money and receiving money - and chances are, you and your student are thinking about all of them. Even once the tuition is paid, living expenses loom, but by planning well and ahead, you can show your student how to save and spend money responsibly.

Heed our warnings, and you might save you and your student some heartache -- and money.

President Obama stressed that “there are few things as fundamental and necessary to American success than higher education. The best job qualification you can have is a college degree or advanced training.” However, college tuition has grown ten times faster than typical family incomes. While President Obama challenged colleges to lower tuition costs, he’s also made sweeping proposals of reform.

Starting in July, the interest rates on these education loans will drop to a historic low — which will save you thousands of dollars in interest over the life of your loan.