Step 2: Get a Scholarship

Scholarships can be a student's — and parent's — best friend because you don't have to pay the money back!  They can range from modest (for example, $500 or less from a local civic organization)... to very generous (thousands and even tens of thousands of dollars for students deemed extremely gifted in either academics or sports).

But your child doesn't have to be a "brainiac" or an elite athlete to earn a scholarship.  There may be a local business or church sponsoring scholarships in your town.  Or he or she may be awarded one based on ethnic background or special citations. 

For more information on how to find a scholarship for your child, see Help Your Kids Win Scholarships.

Next step: Save BIG on College Textbooks