This month we continue the discussion about kids and money on the topic that often feels like a looming gray cloud from birth: paying for college. Get to know two of our student loan experts from Credit Union Student Choice: David Rodriguez and Tracie McGetrick. Our host Janene offers the perspective of a parent who crossed the "paying for college" finish line just a few years ago. 

(Yes, even if your storm hits this year!) Whether you have saved a lot or a little, you can help your student make post-high-school education possible, and you don't have to do it all alone. Learn about the value of the FAFSA (even if you think you won't get anything...surprise! you might!), and how to understand and prioritize loan options. Learn about the annual "calendar of events" that plays out each year a student is enrolled, and how it changes between freshman year and the rest. (Surprise #2: being the squeaky wheel can truly pay off, too: ask for more, and you just might get it.) Just like last time, learning about this topic can never happen too early. And if your student is enrolled this fall, this episode is especially important!

(2:39) Get to know today’s guests, starting with David Rodriguez, Credit Union Student Choice Director of Strategic Partnerships, and,

(7:43) Tracie McGetrick, Credit Union Student Choice Vice President of Business Development

(9:40) Paying for College is possible! Let's get start

(11:00) Where to begin? It's all about the FAFSA. It is open for students and their parents starting October of the senior year in high school. It's not as hard as you may think and only takes about 20 minutes.

(12:45) The first FAFSA benefit: Federal Direct Loans. They are in the student's name and are not dependent on income or credit history, but they are limited. This is a low cost loan, or as David noted: "This is the cheap money," but they still need to be paid back in most cases.

(14:35) the second FAFSA benefit: state and university grants, otherwise known as gifts. These do not need to be paid back, but apply early for best results. They often set FAFSA application deadlines.

(18:36) Tracie shares that there is a big fallacy out there: "I'm not going to get anything, so I won't complete the FAFSA." The FAFSA holds the keys to many things, even academic scholarships sometimes require a FAFSA application.

(20:30)Will mom and/or dad contribute to expenses through savings? Will they budget a monthly amount? Will they apply for a Parent PLUS loan (just be aware that the student is not responsible for them) or other traditional loan?

(22:20) Tracie reminds us that universities often offer payment plans if parents want to budget a monthly amount for the school year. She also suggests that it is important to plan for more than just the first year. Look at the big 4-5 year picture and plan accordingly

(24:20) Remember that you don't have to figure this all out on your own. Help is available, from online resources like www.uecu.org/cueitup, to staff at UECU and Student Choice (info below).

(27:50) After the federal loans, grants and scholarships, how do you fill the gap that remains? That is where traditional loans or private student loans come in. For most of these loans, you must reapply for a new loan every year.

(29:30) UECU's Undergraduate Student Loan works differently. It's a line of credit that can be used each year that a student is enrolled, and requires only a quick check in with UECU to release a new amount each year. One loan means just one payment after school is over. Simple and easy.

(31:30) There is an annual "calendar of events" each year that a student is enrolled. It starts with the FAFSA in October of the prior year, and is...