With college tuition rising faster than inflation, families are searching for smart ways to pay for college without drowning in student loan debt. Thomas McCorry says whether you’re just starting to think about college or you’re facing tuition bills now, this guide breaks down actionable strategies for every stage — from early college savings plans to last-minute financial aid tips.
Early Planning: Build a Strong Foundation with College Savings Plans
Starting early is the most powerful way to reduce future college costs. A 529 college savings plan is one of the best tools available — offering tax-free growth and withdrawals for qualified education expenses.
Top strategies:
- Automate contributions to your 529 plan to build savings consistently.
- Encourage family gifts toward education savings during holidays and birthdays.
- Research merit scholarships early, especially those that track academic performance from middle school onward.
🧑🎓 Midway Planning: Maximize Value During High School Years
As your child enters high school, it’s time to shift focus from saving to strategic planning. This is the stage where college tuition planning and financial aid strategies become critical.
Smart moves:
- Use the College Scorecard to compare schools by net price, not sticker price.
- Enroll in AP or dual-credit courses to reduce the number of semesters needed.
- Prepare early for the FAFSA and CSS Profile to maximize financial aid eligibility.
🎓 Current Planning: How to Pay for College Right Now
If college is just around the corner, there are still effective ways to reduce costs and avoid excessive student loans.
Immediate actions:
- Apply for local and niche scholarships — many go unclaimed each year.
- Consider work-study programs or part-time jobs to offset living expenses.
- Appeal your financial aid package if your financial situation has changed.
Final Thought
College affordability starts with informed planning. Thomas McCorry suggests whether you’re building a college savings plan, navigating financial aid, or figuring out how to pay for college today, each step you take can make a meaningful difference. With rising tuition costs, families who plan ahead — and stay flexible — are best positioned to succeed.