There’s some good advice in this article about how parents can and should talk to their kids about college costs, and how to use your budget to guide your college choices. But I’ll share it with three important caveats:
1. Don’t necessarily eliminate a broad swath of colleges whose sticker prices are out of your budget. You don’t know your financial aid award until you actually apply and get accepted.
2. Use the net price calculater on colleges’ websites to get an estimate of what your family’s cost will be for each college.
3. Colleges where you have a strong chance of gaining acceptance are more likely to give you money—even beyond what you qualify for—to help you attend.