College Options for Family Hit Hard by Economy?
In today's economy, your story is not a unique one. Lots of other families seem to be in a similar bind. Yet, although misery may love company, you'll need more than commiseration to get you through your son's college process. So here's what “The Dean" recommends:
1. If you haven't done so already, try an online EFC (Expected Family Contribution) calculator to find out approximately how much you will be expected to pay towards your son's college each year. Here's the College Board's version: https://bigfuture.collegeboard.org/pay-for-college/paying-your-share/expected-family-contribution-calculator(Read this recent “Ask the Dean" column for more information on using an online EFC calculator: http://www.collegeconfidential.com/dean/will-26-act-keep-me-out-of-college )