This week I’m getting my daughter ready to go back to school – I bet a lot of your kids are already in the classroom.

Our biggest preparation is easing back into an earlier, regular bedtime. My older daughter just can’t function without a good night’s sleep. I’m exactly the same, so I know how important it is for her to be well rested to be receptive to learning, and have a productive day at school.

No matter if school is in session or not, there are so many things that we, as parents can do to help our kids succeed academically. We can make sure there are reasonable limits on TV and game time, encourage our kids to read and take them to the local library to explore for books that interest them. Nobody likes homework, and I’ve found that it’s even a drag when you’re a parent. Still, homework is an important part of learning and we need to monitor homework and help our kids learn how to do their homework independently.

It may be your child’s first day of kindergarten or her senior year in college. Either way, adults play an important role in establishing the right attitude and environment for learning and growth. I hope we all have a successful year!

Our guest blogger today is Stephanie Kreusser, an intern in the Department of Education's Office of Federal Student Aid.   

This fall, millions of students across the country will enroll in colleges, universities, and trade schools to pursue their educational dreams.  The benefits of postsecondary education – enhanced earnings, greater career options – are undeniable, but sometimes the path to getting there can seem daunting.  If you or someone you know is having reservations, there’s no need to feel discouraged; there are resources available to help navigate the college process. 

Developed in collaboration with students, College.gov provides an instructional breakdown of why you should go to college, what steps need to be taken to get there, and how to pay for it. In addition, it highlights real stories about students who were able to overcome barriers to go to college.  Remember, it’s never too late to think about going.  If you’re worried your financial means may be insufficient, don’t be deterred.  Federal student aid is available to make your college goals a reality.

Last year, over $100 billion in federal aid was distributed to nearly 11 million students to help them pay for college or vocational school. There are three main types of federal student aid: grants, loans, and work-study.  Anyone who qualifies can have access to this aid and achieve his/her college ambitions as a result. 

How do you go about applying for federal assistance? Believe it or not, applying for federal student aid is FREE; a prospective college student simply completes and submits what’s known as the Free Application for Federal Student Aid (FAFSA). If that person is deemed eligible, the school(s) listed on his/her FAFSA will send an award letter that specifically breaks down what federal student aid he/she is eligible to receive.

For those who aren’t ready to attend college just yet but are curious if they’ll be eligible for federal student aid, FAFSA4caster is a valuable tool. It determines what type of federal aid you may be eligible to receive (grant, loan, etc.) and provides an estimated award amount for each.

Here are some additional resources to help prepare for applying for college and federal student aid:

- Student Aid on the Web provides in-depth information on how to prepare for, choose, and apply to college, as well as information on the federal financial aid programs – grant, loans, and work-study.

- Funding Education Beyond High School: The Guide to Federal Student Aid is an online comprehensive publication that includes an overview of federal student aid programs and the application process, as well as detailed steps for taking action during each phase.

- USA.gov provides links to help address your questions and concerns about college, including overseas study programs, educational tax benefits, and much more.

As a sophomore starting high school, my mom and I met with a school guidance counselor as part of the standard routine required by my high school. The guidance counselor discussed some general school things and then she started talking to me about selecting courses. She told me to consider carefully which classes I selected. I should focus on classes that would help prepare me for college.

I thought to myself, “College? Is she nuts? My family can’t afford that.” I felt a flush of embarrassment and looked over at my mom. Mom had a surprised look on her face and blurted out, “Oh, Mary isn’t going to college.” There was an awkward silence. I don’t know how many shades of red there are, but I’m pretty sure my face must have blushed in every one of them. The counselor finally said, “But she scored in the 99^th percentile for the state’s standardized testing, she has outstanding grades, and her teachers are recommending her for advanced classes. She should have a chance to go to college.” Mom told her that my family could not afford to send me to college.

That is when the counselor told my mom about financial aid. It may sound odd that my mom was not aware of such a thing, but in my mom’s background the only kids who went to college “came from money.” The guidance counselor told my mom that I could apply for scholarships, grants, and loans when I was a senior. She said that doing this could help defray the costs considerably. She went into some more detail about it all and told my mom to at least think about it. She recommended that I still take classes that would prepare me just in case I decided that I wanted to go.

I followed the counselor’s advice. At the appropriate time I applied for financial aid. I did go on to college with scholarships, grants, and loans. I earned a BS and later went back to school to earn 2 other degrees. If it hadn’t been for financial aid and the opportunity to go to college, my life would have taken a much different path. Heck, you wouldn’t be reading my blog now and THAT my friends would have been a real shame! LOL!

If you think you can’t afford to send your child to college, please check out these resources:

• ABC’s of financial aid
• FCIC financial aid links
• Federal Student Aid
• Department of Education’s Student Aid on the Web
• Students.gov - Pay for your Education
• Financial aid for foreign schools
• Financial aid for the post-high school education of your child with special needs
• Military’s Tuition Support
• Financial Aid Application Deadlines

I just got back from attending the American Council on Consumer Interests annual conference. ACCI’s membership consists chiefly of academics and other professionals involved in consumer and family economics. It was good to catch up with colleagues and engage in lively discussions with the professors, but now I've started daydreaming about going back to college.

It’s been nearly 20 years since I graduated from San Diego State. Back then, my only selection criterion was affordability. Now, adults wishing to go to college or a trade/vocational school have more options to consider. For example, the online university concept appeals to many, especially those with busy lives. Me? Having done some distance learning in the past, I prefer the classroom setting.

No matter whether you choose to go back to school online or in the classroom setting, the school’s accreditation is an important factor these days. Your ability to receive federal financial aid to pay for your education can be affected by your school’s accreditation. In addition, many employers in the U.S. only recognize degrees earned from institutions accredited by an agency recognized by the Secretary of Education.

But determining if your potential school’s accreditation is appropriate and legitimate can be downright complicated. Accreditation standards can vary by state, by employer, by occupation, and sometimes within disciplines. Also, just because a school claims to be accredited, the accreditation and the accrediting organization could be bogus, and the school is simply a diploma mill.

The Department of Education offers a searchable database of postsecondary educational institutions and programs accredited by an accrediting agency or state approval agency recognized by the U.S. Secretary of Education to help you find out your potential school’s accreditation status. The Council for Higher Education Accreditation also offers a similar tool and other helpful information on accreditation.

Well, I think that’s enough about accreditation and postsecondary education choices. Readers, what else should you consider if going back to school appeals to you, too?

My sister is in her last semester of high school, and of course, everyone’s favorite question is “Where do you want to go to college?”  Right now, it’s between five schools-2 public and 3 private. Even though the jury is still out on what colors she’ll be wearing next fall, one thing is for certain-college costs are painfully high. 

It’s been 10 years since I went to college, and during that time, the average cost of tuition and fees has risen by 57% at private four-year colleges and 69% at four-year public colleges  These figures from the College Board may have you feeling a little light-headed, but the costs can be managed thanks to the power of compounding interest.

Since every family’s situation is different, you’ll need to find a savings method that works for you.  In doing so, you’ll want to consider factors like your tax bracket, child’s age, how much financial aid you expect to receive, etc.  Then, you can use these helpful college financing calculators to figure out how much you’ll need to save. 

Once you’ve determined this figure, you need to decide on a savings vehicle.  In addition to mutual funds, brokerage accounts, and bank savings accounts, there are also some tax-advantaged alternatives available to help.  Here are some options:

• 529 Plans
• Prepaid Tuition Plans
• College Savings Plans
• Coverdell Education Savings Accounts
• Custodial Accounts
• Savings Bonds

And remember you don’t necessarily have to save for the entire four years.  Grants, loans, and scholarships can help make affording college a little easier.  Here are some resources to get you started:

 Students

• Studentaid.ed.gov
• Students.gov
• Student Educational Resources from USA.gov
• FastWeb.com

Parents

• Parents’ Educational Resources from USA.gov
• Fact Sheet:  College Cost Reduction and Access Act of 2007