Families should begin planning and saving for their child’s college education almost from birth. There are several programs from both the federal government and from the State of Oklahoma that can help ensure your student has the opportunity to go to college and ease the burden of paying for it. In addition to savings plans, Oklahoma students also have a variety of grants and scholarships available to them to help pay for college.

Special savings accounts are available for families to contribute to their child’s college fund tax deferred. Funds can even be contributed through payroll deduction. Each state has a plan and many do not require you to be a resident to take advantage. The details will vary from plan to plan. For more information, go to Oklahoma's 529 savings plan.

The federal government offers tax credits to families and students while they are in college. Families can claim up to $2,500 in tax credits to help defer costs of tuition and books. The National Association of Financial Aid Administrators has several publications with details about the various tax credits available.

Oklahoma’s Promise is Oklahoma’s special program for families with incomes less than $50,000. This program allows students to earn a tuition scholarship, but the student must enroll in the program while in the eighth, ninth or 10th grade. The student will be required to take specific courses that will ensure they are ready for college, maintain their grades and demonstrate good behavior. For more information about this program, go to the Oklahoma's Promise Web site.

If you are curious about how much your family will be expected to contribute and how much college can cost, check out the Financial Aid Need Estimator by ACT. This site does not give you “official” results, but it uses the same formulas that the government uses and should give you a good idea of what you should be prepared to pay. If you need information about how much different colleges cost, check our page on choosing a college.

If you are a high school junior, you can get a head start on the official process with the Department of Education’s FAFSA4Caster. The FAFSA is the Free Application for Federal Student Aid and it must be filled out during the final semester of high school to qualify for almost all types of financial aid including grants and some scholarships. The FAFSA4Caster is designed for high school juniors and their families who want to get a head start on the process. For both FAFSA’s you will need your family’s most recent tax records. All information entered into the FAFSA4Caster will be transferred to the official FAFSA form when you are ready. Complete the FAFSA even if you don't think you will qualify because sometimes the financial aid office has resources that you may not know about.

Go to the FAFSA4Caster to get started.

If you are ready for the real thing, go to FAFSA on the Web.

NOTE: Both of these FAFSA services are available FREE to everyone. You should never have to pay a fee to file these forms.