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Caroline

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If you're a high school senior, the cost of college probably isn't your top concern right now. Usually during that first semester of senior year, you're more worried about getting into the school you want  — not how you'll pay for it.

For a lot of students, saving money for college doesn't feel like an urgent matter until the summer before you leave — when all the "busy-ness" of senior year and excitement of graduation are past. By that time, you know where you're headed for school and how much financial aid  you're getting and it all finally feels real.

Unfortunately, June is a little late in the game to start a real savings plan for fall. You'll be better off if you start concentrating on saving right now.

So how can you get motivated? Try to make it real for yourself. Forget about the vague, fuzzy "saving for college" idea — start thinking more specifically about what things you'll need to pay for next year. No matter where you go to college, you're going to have some of the same expenses , so list them out and use them as goals to save for. Here are some ideas:

• Laundry money — laundry will probably cost around $5 a week. Plan on 40 weeks worth of laundry, and make a goal to save $200 to stay in clean clothes for the entire year.
• Eating out money — even if you stick to your pre-paid meal plan, that generally doesn't include supper on Sunday nights. Figure you'll spend $10 eating out on Sunday nights each week — and aim to save $400 to cover Sunday meals for the year.
• Books — these will probably run anywhere from $200-$600 per semester. Set a goal of saving $500 for your first semester's books.

These are just a few of the basics you'll need a stash of cash to cover during your first year of school. Try saving for just one of these items to make it a really achievable goal. It feels good to know exactly what you're saving for — and what it takes to get there.

Are you saving money for college? Tell us how it's going!

Caroline

If you're a high school senior, how are you going about exploring the colleges that interest you?

Are you searching online? Talking to your parents or guidance counselor? Reading up on the literature colleges send you?

These are all good approaches, but when it comes to choosing you college, nothing really beats an in-person visit to the campus. Many campuses host special "Senior Days"  where you can get a personal tour, lots of good information and maybe even some cool freebies like game tickets.

It's great to visit on a Senior Day because of all the pre-planned sessions just for you. But if you can't make it to a pre-scheduled day like that, check out this link  for some help for planning your own campus visit.

If you've already attended a Senior Day, let us know how it went!

Caroline

As a high school senior, you've got a busy year ahead of you. While you might be mentally ready to set things on "coast," now is not the time for that! Besides keeping up your grades, you've got a bunch of prep work to do to get ready for college. It's all pretty deadline oriented, so if you haven't created a master calendar yet, it's a good idea to start one.

Here is a basic timeline of things you'll need to remember to stay on top of college planning:

September

• Meet with your guidance counselor to discuss your choice of colleges.
• Start a scholarship search.  Look online and tap your guidance counselor to get help with local scholarship options. Note all scholarship application deadlines on your master calendar.

October

• Decide which schools to which you'll apply. Make a note of all the application deadlines and put them on your master calendar.
• Secure recommendations from teachers, employers, or other adults. Give them at least a month to write their letter.
• Start thinking of topics and drafting outlines for college application essays. 

November

• Submit your college application information on time.
• Schedule campus visits and interviews.

December

• Keep an eye on scholarship deadlines and continue your scholarship search.

January

• File your FAFSA (Free Application for Federal Student Aid) as soon after January 1 as possible. File online at fafsa.ed.gov. 
• Attend a financial aid night to learn more about paying for college.

February

• Provide your counselor with the necessary mid-year grade forms, if your schools require them.
• Register for advanced placement tests.
• Complete scholarship applications.

March

• Watch for your Student Aid Report (it should arrive about four weeks after submitting your FAFSA).
• Check your mailbox! You should begin receiving your admissions decisions from colleges.

April

• Compare financial aid awards  from different schools and keep these in mind as you weigh your options.
• Look for additional funding if your financial aid package is not enough to cover your costs.
• Think about private student loans.
• Use Wells Fargo's online tools and calculators help plan.
• Make the final decision and notify your schools.

May

• Enjoy the last few weeks of high school, but remember to keep your grades up!
• Make sure your final transcripts are sent to the college you'll attend.

Summer

• Save money from your summer job and gradually buy things for school.
• Know your freshmen orientation dates.

Any other ideas to add to the senior year calendar?

Caroline

The start of college is just around the corner, and for you freshmen, it will be a time of new beginnings — you'll have a lot of new freedoms and new responsibilities. It can be exhilarating, but a lot to take in all at once.

I got a lot of good advice when I started college, and I thought I'd share some of it with you, to help you get off on the right foot:

1. Go to class. This may seem basic, and you may be planning on it right now, but once you get to college, you'll find that a lot of people do skip class , especially the early morning sessions! Don't give in to the temptation. Even though no one is around to make you answer that alarm clock, get in the habit of always attending class. It will make a big difference in your grades. In my opinion, it's even more important to attend class than to do the required reading. (Obviously you should do both, but I'm just saying!) Plus, you are paying for these classes — get your money's worth!


2. Study between classes. Once you start college, you'll probably be surprised at how much free time you have during the day. You're used to being in school seven hours a day, but in college you may only have three classes on any given day. That leaves lots of hours in between. Resist the temptation to head back to your dorm room and watch soaps between classes. If you don't have an on-campus job to occupy your time between classes, then stick around and head to the library. Review your notes, catch up on reading (you'll have a LOT of reading to do in college), or finish any assignments you might have. If you get in the habit of staying on campus and studying during the day, you'll find that you have a lot more free time in the evenings.


3. Stay on the weekends. It can be tempting, especially in the first few months of college, to pack up and head back home on the weekends. After a long week of the unfamiliar — finding your way around campus, trying to get a handle on your classes — many students prefer to spend weekends in their comfort zone, around old friends and family, in familiar surroundings. Resist the urge, especially at first, even if you find yourself at loose ends on the occasional Friday night. If you stick around on the weekends, you'll find that most other freshman are also looking for friends  and trying to figure out college life. You'll quickly start making more friends and finding things to do. It will be important to your happiness and your ultimate success in college to have a strong network of friends and a fun social life at school, as well as back home.


4. Be careful with your money! College may be the first time you've been in charge of your own money, so now is the time to start some good habits. Figure out the best way to keep track of your checking and savings account balances. Managing your accounts online may be the easiest way. Save your receipts so you can keep track of your spending, and compare it against your online transactions. Start working on a budget from the get-go.


5. Be cautious about credit cards. You'll be inundated with offers at college. Get just one credit card and don't charge any more than you can afford to pay off each month to avoid additional interest charges.

For those of you who have survived your first year of college, do you have any tips to share with the incoming freshmen?

Caroline

Summer is just beginning for you graduating seniors — time to relax and enjoy. But it's also time to start planning for college.

Here are a few tips to keep you organized so you’re ready for class when fall rolls around.

• Make sure you’re set for orientation. Most colleges hold orientation over a couple days during the summer. Be sure you’re registered and ready to go. This is probably when you’ll sign up for your fall classes, get your college ID and take your CLEP tests. 


• Save money from your summer job. You’ve probably heard about "saving for college" a million times, and it probably always seemed like an abstract concept. Well, it’s not abstract anymore. Think of everything you just might like to buy  in your first semester of college — a new sweatshirt, pizza, gas for your car. It’s going to add up quickly and you don’t want to put these things on a credit card. So think about these basics every time you’re tempted to spend this summer, and know that you’re going to need the cash soon enough.


• Set up a bank account. If you don’t have one already, be sure you’re set with an account and a debit card. Talk it over with your banker or your parents and make sure you understand the details of your account, how to bank online, etc. Don’t feel dumb asking questions — you’d be amazed at what people your age (and older) don’t understand about banking and money. By the way, we have resources that can help! 


• Make sure your financial aid is in order. If you have any doubts about your financing, call your school’s financial aid office. They’ll be happy to help you out. Better to iron things out now, rather than during the first week of school, when you have a million other things on your mind.


• Buy supplies slowly over the summer. Money is tight for almost everyone these days. And your parents may not want — or be able — to take you on a big-box store  run a week before classes start. Make a list of everything you’ll need for college. Go beyond the obvious sheets, towels and laundry detergent and try to think of even the most mundane items: basic tools , an electric power strip, a container for your bath supplies, etc. Once you’ve got a really detailed list, raid your parents’ garage and laundry room to figure out what you can repurpose from home and cross those things off your list. There are also things you can probably share with your roommate (an iron and one of those mini ironing boards, perhaps?). Now with your list more lean and mean, start to accumulate those items slowly over the summer. Maybe buy one or two things each week to spread out the expenses.

Follow these tips now, and you’ll probably be a lot more relaxed in those last weeks before you head off to college.

In the meantime, share your stories with us: What are you doing over the summer to prepare for school this fall?

Caroline

If you're a high school senior, Decision Day is almost here. You're getting to the point where you should be receiving your award letters  from colleges.

If you haven't already decided on a school, these award letters are probably a big part of what you've been waiting for. For many students, school choice comes down to the financial aid package.

So what can you expect? Your award letter typically will list the Cost of Attendance (COA), the federal aid you're eligible for (grants, work-study, and student loans), and your Expected Family Contribution (EFC).

Review your award letters carefully, considering these important points  to be sure you understand the aid that's being granted and what your final costs will be.

The link above lists some key questions to ask, such as:

• Does the Cost of Attendance include all projected costs?
• How do non-institutional scholarships affect you award amount?
• Does the aid package likely cover the same expenses every year?

When it comes to award letters, they're not all written in the same format, so here's a cool tool  to help you compare apples to apples. Don't be afraid to contact the school to get all your questions answered.

Are you waiting for an award letter before deciding on a school?

Caroline

If you're a high school senior, all the realities of college are probably getting more real by the day. Specifically, the reality of how much college costs.  Starting now, you've got just a few short months to pull together the financing for your first year.

That doesn't mean it's time to panic. It's time to get to a Financial Aid Night, if you haven't already attended one.

What's a Financial Aid Night? It's an evening dedicated to providing information and answering your questions about getting financial aid for college. Typically your school will host it with help from a bank or other lending institution.

It's a great time to go with your parents (yes, be sure to bring them) and get a good understanding of the financial aid process. You also learn more about grants and scholarships that are available. The knowledge you'll gain will help you move forward confidently to get money for college.

How does it work? There will probably be a presentation about the financial aid process and the opportunity to pick up brochures and information about loans and scholarships. You might also have a chance to visit with a banker to learn more.

If you haven't seen notices for a Financial Aid Night at your school, check in with your guidance counselor about when one might be scheduled. If you're really in the dark about financial aid, it's important that you attend sooner than later — deadlines rule when it comes to getting money for college.

If you've already attended a Financial Aid Night, let us know how it went. Did you find it useful?

Editor's note: Over the next few months, The Student LoanDown will be running a series of posts focused especially on high school seniors. We'll be attempting to cover lots of topics of special interest to this group as they count down to graduation and get ready to head off to college.