September signals a new school year and, for parents of high school seniors, an important crossroads: preparing your student for college without sabotaging your own financial future.
The first step is to know the real cost of college—before anyone signs a single loan document. Use each school’s Net Price Calculator to estimate out-of-pocket costs and build your family’s budget around that number. Only consider schools you can pay for with a mix of savings, cash flow, scholarships, and grants. Steer clear of loans whenever possible; debt is not a graduation gift.
Encourage your student to meet with their school counselor early. Counselors can guide them through applications, deadlines, and financial aid options. Create a written calendar of every key date—test registrations, application cutoffs, scholarship deadlines—so nothing sneaks up on you.
Test scores still matter, especially for merit scholarships. If your student’s SAT or ACT score could use a boost, schedule a retake this fall and pair it with focused practice. Scholarships beat loans every time.
Get ready to file the FAFSA as soon as it opens, and if a college requires the CSS Profile, gather documents ahead of time. Some schools may still offer tuition breaks for families with multiple students in college, so be sure to ask.
Ramsey Tip: If a school’s cost doesn’t fit your budget, move on—no “dream school” is worth decades of debt.
Finally, avoid letting interest pile up. If you or your student already have federal loans in process, make small interest payments as soon as the funds are disbursed. Better yet, work hard to cover college without borrowing: apply for scholarships, work part-time, and choose affordable schools.
College is a launch pad, not a financial anchor. Plan wisely, live on a written budget, and teach your student to pursue higher education with clear eyes and a debt-free mindset. Enjoy these last warm weeks knowing you’re steering your family toward financial peace.
WMWM College Planning Update: September 2025: A Season for Smart College Planning
September 15, 2025
Whitaker Myers
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