Finding money for college in a recession

• Skip some senior-year frills -- maybe it's no class ring or a limit on graduation pictures. Save that money toward college.

• Be realistic about what you can afford. Have a discussion with your child about the changing economic landscape -- and yes, losses in real estate and the stock market.

• Consider community college for a year or two.

• See www.federalstudentaid.ed.gov for more information on student aid.

• You can get the Free Application for Federal Student Aid form by going to www.fafsa.ed.gov.

There are two different FAFSAs that can be submitted now. The 2008-09 application process started on January 1, 2008 and ends June 30, 2009. The 2009-10 process started on January 1, 2009 and ends on June 30, 2010.

States can have earlier deadlines; the deadline in Michigan is March 1.

• If a parent has lost a job, talk to your student aid office again.

• Talk to your company. It may have special programs for college scholarships.

• Talk to your college about making interest-free monthly installments to pay tuition.

• Shop around for college textbooks.Check the campus bookstore, regular bookstore or sites such as www.half.com, www.amazon.com or www.bigwords.com. • Go to www.finaid.org for detailed information on scholarships and financial aid. Do not borrow more than your expected starting salary, according to Mark Kantrowitz, publisher of FinAid.

• If a teen is in the 10th grade and up, reconsider how much money you're keeping in the stock market for college. Typically, investors would want to keep money out of stocks if they need that money within the next five years or so.

Contact SUSAN TOMPOR at 313-222-8876 or stompor@freepress.com.