If you can’t get all the money you need from the government or the school, you’ll need to look for alternative finance sources. Parents can borrow the complete cost of college (minus any financial aid you receive) in the PLUS program (Parents’ Loans for Undergraduate Students). The interest rate for PLUS loans is capped at 9 percent. Repayment usually starts 90 days after the money is disbursed.

Home equity loans and loans from retirement accounts can help, too, and may be a better deal. Talk to your credit union about loan options and opportunities. They’ll help you sort out your loan options and find the one that’s best for you.

And, believe it or not, it’s not too late to invest for college. Use our calculator to see what the money you set aside now can turn into by the time you need it for school. Talk to your credit union about the best ways to save money, too.

Sorting out your financial aid options and needs can be a hassle, it’s true. But remember (and keep reminding your parents as they struggle through the paperwork) that an education is an investment. In fact, it’s one of the best investments you will ever make. The effort will be worth it in the end: that cap and gown is going to look really good on you !!