A simple guide to planning for college

College is an exciting step towards your future, but it comes with a big question: How will you pay for it? Whether you’re a parent planning for your child’s education or a student preparing for college, having a clear plan can make the process less stressful and more successful.

Start early and make a plan

The earlier you start planning, the better. Decide how you’ll cover college costs: Will you or your parents pay, or will the expenses be shared? Discuss expectations upfront to avoid surprises later.

Meet with a financial advisor

Professional guidance can help you set realistic goals and create a savings strategy. Centra Financial Services offers no cost, no obligation financial consultations, so take advantage of resources like this early.

Explore scholarships

Scholarships are free money. Don’t leave them on the table! Start your search early and apply for everything you qualify for.

If you’re not sure where to start, you can talk to your school counselor about local and national opportunities. Checking the colleges you’re considering for their scholarship programs is also a great tip. You can also search for scholarships at places like Big Future, FastWeb, and Appily.

A great local option is the Centra Foundation’s Loretta M. Burd Scholarship Program! Applications for the 2026-2027 school year open January 13!

Understand financial aid and FAFSA

The FAFSA (Free Application for Federal Student Aid) is your gateway to federal grants, loans, and some scholarships. You must complete it every year you attend college.

FAFSA tips:

• Fill it out as soon as possible after you and your parents file taxes.
• You’ll need your parents’ tax information until you’re 25 (or meet other independence criteria).
• Complete the form only on the official studentaid.gov website.
• After submitting, it’s a good idea to confirm with your college’s financial aid office that they’ve received it and ask about any additional paperwork.

Don’t let the cost of college overwhelm you. Start planning early, save what you can, apply for scholarships, and use financial aid wisely. Even small steps now can make a big difference later!

Looking for more information? Check out The Basics of College Savings Planning from Centra Financial Services!