Parent — Balancing Expected College Costs with your Future Retirement Needs

Parents often ask how to select colleges that help “balance” college expenses with their need to save money for retirement. Locating colleges that can meet their student needs and goals, and still allow them to save for their own future needs, is a way to provide that balance.

Parents can do personal research on colleges offering comparable majors and programs at a lower cost, or offering certain types of financial assistance, without required repayment. These include Grants, Work-Study,Merit Scholarships, paid Internships, NCAA Division I or II Sports recruitment, and related high school activity participation that could warrant  a college seeking out a particular student to join their comparable activity for a reduction in college costs.

Students can take Advanced Placement (AP) courses, or any college-credit courses that might be offered at their high school. They could then ask a given college if these course credits could be transferred. If so, they might to save having to do one or two semesters of required work in college.

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