Financial Planning

Early Preparation  |  Financial Planning  |  Parent Checklist Supporting Your College Student  |  Parents of Special Ed Students

It's a well-worn tale, but it's never too early to save money for your child's college education. But with the skyrocketing costs of college -- tuition, room and board, books, travel -- it's rare that families are able to afford these expenses without sound financial planning.

Because the cost of not going to college is so high, it's vital that you create and stick to a real, attainable plan; a plan that you and your child/children/entire family understand and fully support.

In addition to following a well-organized savings plan, several types of financial aid exist:
Parents Checklist
Financial Aid

College Savings Plans
Protect your child's future now. Prepaid tuition programs are a safe and secure way to ensure tomorrow's education through a solid savings base at today's tuition fees and costs.

For more information visit: www.collegesavingsmd.org.

Program Highlights:
• Can be used at all two or four year Maryland public colleges
• Can be used at nearly all private and out-of-state colleges throughout the U.S.
• Substantial State and Federal tax incentives
• Variety of tuition plans and payment options
• Circumstantial flexibility
• Easy eligibility
• Contract prices based on today's college tuition costs

The Virginia Prepaid Education Program (VPEP)
enables parents, grandparents, and others to prepay college tuition and mandatory fees at community colleges, four-year universities, or a combination of the two. VPEP pays full tuition and mandatory fees at any public college in Virginia. Benefits can also be used at Virginia private colleges, as well as at colleges and universities throughout the country. The program is open to children in the ninth grade or younger if either the child or the purchaser is a resident of Virginia. The plan offers a variety of payment options and significant federal and state tax advantages.

For more information visit: www.vpep.state.va.us

DC-CAP/Riggs College Savings Plan
Riggs Bank has partnered with DC-CAP to bring you a special college savings plan. Not only are free savings plans offered for your child's education, Riggs Bank counselors are available to help you review your finances and determine the best college savings plan for you and your family. Together, with Riggs, DC-CAP, you and your child's dream of a college education can become a reality.

For more information, contact the DC-CAP for to receive the DC-CAP/Riggs College Savings Plan Information Package or visit your nearest Riggs Bank branch.

Financial Aid for Non-U.S. Citizens
If you are the parent of a student who is not a U.S. citizen or a permanent resident, he or she may not be eligible for federal, state or institutional financial aid. Regardless of their citizenship status, DC-CAP is committed to providing counseling and financial services to all DC public high school students. Our resources are available to all students and their families who are U.S. citizens, permanent residents, foreign nationals and non-U.S. citizens. Students who are not U.S. citizens or residents who want to be considered for the DC-CAP financial assistance must complete the DC-CAP Financial Aid Form for non-U.S. Citizens.

The information on the form will be collected solely for the purposes of determining financial assistance from DC-CAP.

* The DC-College Access Program (DC-CAP) is a non-profit organization funded by private resources. DC-CAP is not affiliated with any local, state or federal government agency and receives no funds from such entities. All information collected is confidential and remains in the custody of DC-CAP. DC-CAP will not release any information without the written consent of the applicant.

Other Financial Aid Information
Parents Checklist