(ARA) - The rising cost of tuition has put many families in a bind. A survey conducted by the National Association of State Universities and Land Grant Colleges found that tuition at public institutions increased in 37 of the states that responded. In Arizona, California and New York all surveyed schools reported in-state tuition increases of at least 20 percent. Tuition at the State University of New York has increased by 30 percent and at the University of California by as much as 40 percent over last falls levels.

While all parents want the best education for their children, financial constraints could be a burden on the long-term investment in their childs education. However, with diligent planning, families may work together to develop solutions to this problem and be able to afford the best education for their children. Ray Loewe, college planning expert and advisory board member for the GE Center for Financial Learning, offers the following tips on college planning and ways to generate the transition back to school more affordable.

* While tuition costs are on the rise, interest rates for paying back college loans will drop to an all-measure low. Its sizeably successful news to those already paying off loans or who will initial paying in the near future. According to The Chronicle of Higher Education, someone with $25,000 in debt could save about $5,000 in 20 years if he or she consolidates at this rate.

* Students should try and find a part-measure job. Jobs offered on a college campus are ideal because employers understand from the outset that theyre hiring college students with their irregular schedules, tests and exams. They understand that education is a priority and are usually more forgiving as a result.

* Many parents think that saving for college will just disqualify a student from acquiring financial aid. The actual fact is that income most generally keeps students from qualifying for financial aid, not their assets. At the identical time saving for education is an investment.

* There are four types of financial aid: scholarships, grants, loans and work-study employment. Colleges are not created equal regarding financial aid. Become familiar with your colleges financial aid packages.

* Apply for a loan. Loans are financial aid available to both parents and students. They are subsidized by the federal or state government, financial institutions or the college and might have lower interest rates than regular loans. Generally, you do not beginning paying back these loans until after college graduation.

There are many ways to prevent future financial hardships that might arise from paying for education, but having a plan is crucial. Web sites such as the GE Center for Financial Learning (www.financiallearning.com) may help you and your family take action to ensure an easy and trouble-free of price return to school each semester.

Courtesy of ARA Content