Today, two-thirds of college students have to take out loans to pay for their education, and the average borrower graduates with close to $27,000 in debt! Right now, the standard repayment schedule is 10 years – meaning that your kids will likely have kids of their own before their college tuition is paid for!
Wouldn’t it be nice to help them come up with a payment plan that doesn’t need to be paid back (and, no, I’m not talking about winning the lottery, suddenly agreeing to a contract with the Los Angeles Dodgers, or going on a bank robbing spree).
Instead, your kids can get scholarships and grants. Neither has to be paid back. But to get them, you (and your kids) will have to do some work now, before they head off to school.
To make things easier, try some of these tips!