You may have recently read the article in the Union Leader that highlighted student loan debt in NH.  This latest survey from the Project on Student Debt shows that students in NH are graduating with the highest loan debt in the country.

With that being said, isn’t it great to know that some colleges are actually lowering their tuition and fees?  While the majority of colleges (at least ones in our local area) have not announced any such reductions at this point, it is a great sign to see that some are able and willing to slash their prices.

Right now is a great time to sit as a family and discuss the cost of college, what is reasonable for the family or student to possibly take out in loans to fund education and what that may mean in terms of repayment upon graduation.  While you are unsure what the colleges you applied to may be able to offer you in financial aid, it may be more helpful to set parameters before those award letters start rolling in.  Right now there may be less emotion involved and you may be able to really outline a budget and cost that you should adhere to in order to maintain a healthy financial picture.

Have you started planning for the cost of college?  If so, what advice do you have for others?

Val