Economic crisis upsets college plans

Today's San Francisco Chronicle looks at the impact of the economic crash on families' college choices:

Economic crisis upsets students' college plans
By Tanya Schevitz

An increasing number of college-bound students who had favored private colleges are applying to public institutions in California and across the nation this fall as the faltering economy shrinks family savings and makes loans harder to find, experts say.

Many parents and children who might not have considered state schools, where tuition is typically a fraction of private schools, are re-evaluating their college options, college counselors say.

And some prospective college students are finding they cannot afford a higher education and are putting plans on hold.

Read the rest of the article.

Families looking at college for next year are reminded that you need to fill out the FAFSA, the Free Application for Federal Student Aid. File it no matter what colleges you're applying to -- California public, out-of-state public, private. It can't be submitted until Jan. 1, 2009, but it's a big project and you should be starting early. In California, the deadline is March 2, 2009, to qualify for state assistance.

Check out the FAFSA4caster, too: You can use FAFSA4caster to learn about the financial aid process and get an early estimate of your eligibility for federal student aid.