College costs are increasing at a speed that is just over twice the rate of inflation, meaning that annual tuition costs are rising at about 8-10% per year. For the current college student, these increases are a tough pill to swallow, but for future students paying for college can seem downright daunting.
Thankfully, current and prospective college students have some options available to them, choices 
which can help defray at least some of the costs of higher education. Besides a 529 college savings plan, the following eight student financing options are available to everyone:
First Things First — Prior to applying for financial aid, students should fill out a Free Application for Federal Student Aid (FAFSA) form and submit it to the federal government. The information you provide on that form will help the government create an SAR (Student Aid Report) which will be sent to your college with a copy sent to the student’s family.
Based on the SAR, your college will create a financial award letter that lists the amount of aid you will receive from the school. Once that amount is known, then you’ll know the exact amount of monies that you will need to raise on your own.
College Scholarships — With billions of dollars of scholarship money awarded each year, students have an excellent way to find free money to pay for their education. Tens of thousands of different scholarships are available each year, with every scholarship having their own eligibility requirements. You can apply for as many scholarships that you are eligible for.
Check Out Financial Aid Charts — After you receive your SAR, will you know the exact amount of money that you will need for school? Likely, you’ll have a ballpark figure, but to sharpen your answer you need to access certain financial tools to find that out.
Consider Stafford Loans — Government student loans are now called Federal Stafford Student Loans, which can be a terrific way for you to fund your schooling. Eligibility requirements are rather strict, so don’t rely on this method of financing only.
PLUS Loans— These are government backed loans that cover up to 100% of a dependent child’s educational costs, minus awarded financial aid.
Private Student Loans — Families can borrow as much as $45,000 annually via a private student loan. They’re easier to get than Stafford Loans, but interest rates are somewhat higher.
Consider Other Aid Options — Federal Pell Grants, home equity loans, college savings accounts, borrowing retirement money, military service funding, tax abatements, work-study programs, and loan forgiveness options are all worth taking a look at.
Maintaining A Budget – Once your adult student has started school, keeping track of the money is critical in order to avoid running out of funds before the academic year comes to an end. Stick to a budget and you’ll make sure that there is enough funding available to see you through the year.
No doubt, college costs will continue to rise, but with excellent planning on your part, you can limit the sting of paying for higher education and limit your debt obligations.
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