We remember well how overwhelming the whole college application process was with our daughter Meredith. So if you're feeling that way, we understand! But you'll get through it and we're here to help.

If you're like most people, you are wondering how on earth you are going to pay for college.  Financial aid can certainly play a role in paying for your child's college education. But don't wait until late in the game - start early! And by early we mean as soon as your child enters high school.

We've talked in other articles about some of the some of the various options available and how you can decide which are best for you. (See 5 Top Financial Aid Myths and Saving for College.) Now it's time to lay out step-by-step what you should do at each stage of the process.

Here, then, is the Dolans' Guide to Qualifying for Financial Aid:

Stage 1: Three to Four Years Before College

• Put assets into your retirement accounts. You need to continue funding your own retirement and guess what? The less money you have in non-retirement accounts, the better your chances of getting financial aid. It's a win-win for you and your child!
• Keep assets in your name if you think you'll be eligible for financial aid. Financial aid formulas assume that you, as parents, can tap as much as 47% of your after-tax income to pay for college expenses. But the formula assumes that a maximum of only 5.6% of your assets are actually available. Your child, on the other hand, will be expected to contribute 35% of his or her assets to college bills. So don't set up a Coverdell or 529 in your child's name unless you're sure you can get by without financial aid.
• Consider returning to college or graduate school yourself. The expected family contribution is divided by the number of people in school, so you can nearly double your aid eligibility this way. But be aware of this caveat: Many private colleges consider only the number of dependents in school when distributing their own funds, so you won't count. Be sure to check with each school you're applying to.

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