 TITLE: Create a College Budget Plan in 4 Easy Steps CONTENT: Review Your Financial Game Plan for College\n-------------------------------------------\nStart by thinking broadly. Before you take the time to set up a budget, it's important to understand the financial expectations you and your family have about paying for college.\n*   **How will you pay for college?** Tuition and the university fees that accompany it are your core college expenses—and the costs can range from relatively affordable to nearly astronomical. For most students, tuition costs are covered by some mix of parent contributions, financial aid, student loans and personal income or savings.\n*   **Are you eligible for financial aid or federal loans?** If you're relying on financial aid or loans from the government or your school, you'll need to fill out the Free Application for Federal Student Aid (FAFSA) the spring before you're planning to attend college, if not earlier. Visit the FAFSA site to learn more about state and federal deadlines. And check out these tips on avoiding mistakes when applying for financial aid.\n*   **Will you or your parents be taking out student loans?** Creating a simple budget will help you figure out how much money you need to borrow without taking on more debt than is needed. Budgeting in advance can also help you determine if you're comfortable with the level of debt you'll need to take on to get a degree from the school of your choice. After running the numbers, you may decide to go to a cheaper school or complete general education requirements at a community college.\nWhile you're thinking about funding, take a moment to list all of your potential income sources for the school year, including your personal savings, possible work opportunities, gifts from family members and scholarships. You'll need this information when you're assembling your budget. END