Your son or daughter just got accepted into the college of his or her choice, €Costly U€. Everyone is ready to celebrate, until you realize the price tag for the first year. Even with scholarships, you are on the hook for more than half the expenses, which in this case amounts to about the cost of a new car, even a compact one. Before signing for thousands of dollars worth of student loans, there are still some things you and your family should consider.

If attending Costly U
If Costly remains the all-or-nothing choice for your child, there are a few choices that can help ease the burden and impending debt.

-Savings account
It is likely that you started saving for college the moment your child announced his or her choices. If not, it is never too late, as college of course takes a minimum of four years. By saving up now, you can still offset the expenses for your child's upperclassman years.

-Live off-campus
This is probably a better idea if the school is closer to home. While the dorm experience can be fun, living at home or getting an off-campus apartment actually saves thousands on room and board.

-Go to school later
It may sound like forever, but delaying Costly to attend a community college for a year or two is also a feasible option, and saves thousands. The classes are often smaller, making interaction with a professor easier. Your student also picks up the core classes, as well as those related to their field of interest. Best of all, most of the credits transfer to a four-year school.

-Get a job
For a school like Costly, money from a part-time job will barely put a dent in the bills. However, every little bit counts, and if anything, saving each check can cover smaller expenses like books for the semester. Schools offer work study to students, based on financial need, where the student works in a university office, the library, or elsewhere on campus. However, if he or she does not qualify, encourage him or her to consider an off-campus job, as long as it does not interfere with classes.

Thrifty State U.
If Costly still lives up to its name, consider attending €Thrifty State U.€ Chances are your child will still receive a quality education for a fraction of the cost. Of course, it may not soften the blow of having to turn down Costly, but it will at least reduce the annual bill, and make things a lot easier in the long run, when the first student loans bill rolls in.