Pasco: A parent's motto: Be prepared

A parent's motto: Be prepared

Financial planning for your child's college education requires foresight, hard work and lots of money.

By MICHELE MILLER

If you're like me -- a parent of a graduating high school student -- you might be feeling, well, a little overwhelmed these days.

I'm one who comes to these crossroads somewhat unprepared. Emotionally, it's a wash. The kid has his sights on going to college next year and has done his part by being accepted to his dream school -- the one with the allure of being a five-hour road trip away from his parents. Although I want the best for him and could use a spare bedroom when the Northern kin-folk make their annual pilgrimages south next year, I'm not quite ready to deal with the onslaught of the "empty nest" syndrome.

But timing, they say, is everything. The middle child, who has yet to graduate from elementary school, won't be doing the Pomp and Circumstance walk for another eight years. It looks like I'll have plenty of time to adjust.

Then there's the financial aspect to tackle.

Okay, so I should have been ready for that. In the years that I've covered school news and events, all those nice informative people working in high school guidance offices have been warning me.

Still, I was a little bowled over by the sticker shock that comes with senior year -- yearbook, pictures, cap and gown, grad night, prom, college application and college entrance exam fees. Even if you blow off the $50 graduation announcements as needless and the "soon to be out in the real world kid" pitches in with some cash, those expenses pile up.

Add to that, the cost of college that's out there looming on the horizon: tuition, housing, books, computer, etc, etc, etc ...

Whew.

Hindsight is 20/20 and while my husband and I perhaps should have bought into the Florida pre-paid tuition plan or stashed more into our savings, we are painfully aware that there's no way to do that when you're living paycheck to paycheck. Sometimes you have to live in the "here and now."

"Here and now" these days has me facing the dilemma of paying the piper. I have tried to soften the blow some, by throwing my son's name into the federal financial aid pot with the hopes of hitting pay-dirt.

(No doubt my son should have done this himself, but if you're familiar with the term "Senioritis" being bantered about plenty this grading term, you understand why I just did it myself.)

Those in the know say there's plenty of federal money out there in the form of grants, loans and work study programs -- but it does take some work to get it.

There's the Fee Application for Federal Student Aid to fill out, which is best done if you have your taxes at least prepared now. (I know, I know, that can be painful, but buck up -- no one says you have to file now.)

Money is doled out on a first-come-first-serve basis (Hence the timing of this column: I mailed out our application last week before I started writing about it.) so even if your child qualifies for aid, you could miss out by being a slow poke.

If you're dealing with your own bout of senioritis, procrastination, irresponsibility -- whatever you want to call it -- fear not. The form isn't as complicated as it looks. With W-2s and tax forms in hand, it took me all of 20 minutes to complete. The Fee Application for Federal Student Aid forms are available at your child's high school guidance office or you can simply file on-line at their Web site: http://www.fasfa.ed.gov/.

Good luck!