Planning Ahead with Your Student for Next Term
If your family is like many others right now, you are spending smartly and saving as much as you can. The strain of sending a student to college is tough, especially in this worrisome economy. And it's likely that your student is feeling the financial pressure too. It's smart to start talking about what next term will look like financially now.

Consider:

• Budget Assessment: How much money is your student spending in a month? Encourage him to keep track during the month of October or November so you can get an accurate assessment of what he needs for next term. Keep in mind that students tend to do more social things in the spring. Not only have they met more people by then, but clubs and organizations tend to be more active then too.
  
  
• Winter Break Plans: Will your student be working over winter break? If so, now is the time for her to begin putting these plans in motion to ensure she's got the job she needs.
  
  
• Upcoming Expenses: Ask your student to talk with his peers to find out what expenses to anticipate for the next term. From academic responsibilities to social commitments, he can get a sense for what he'll need from students who've been there before.

Once your student has a sense of what she'll need next term, your family can determine what you can make happen. Talking now offers ample time to have conversations with financial aid officers and to remind your student to make smart choices about spending.