Savings

One way to pay for college is through savings. Start saving for college now! Open a savings account at a financial institution just for your child's college education. The State of Mississippi has the Mississippi Affordable College Savings Program (MACS) and the Mississippi Prepaid Affordable College Tuition Program (MPACT). Information on these programs is available at www.collegesavingsms.org.

Grants

Grants are usually given to students who need the most assistance. Grants do not need to be paid back. Grants are given through the federal government, state government, private organizations and universities and colleges. In order to receive a federal grant, your child must complete a Free Application for Federal Student Aid (FAFSA). GEAR UP Mississippi conducts workshops each year to aid in FAFSA preparation.

Scholarships

Students receive scholarships for many reasons. Some include good grades, musical talent, sports and cultural or religious background. Scholarships go directly to the college the student will attend or in some cases directly to the student. Scholarships do not have to be paid back.

Loans

Loans can be obtained from a financial institution or the government. There are many different types of loans, but all must be repaid. Contact your bank or other financial institution for the availability of loans. Information about federal government loans can be found at www.salliemae.com.

Work-Study

A lot of students work while they are in college. Colleges can help your child find jobs on campus. Most work-study students work 15 hours a week. The money students earn can be applied towards tuition, room and board or personal expenses.