Released: January 15, 2012

Apply for financial aid to determine if college is affordable

Source: Liz Weston, The LA Times

Dear Liz: I have an 18-year-old daughter who wants to attend a private, out-of-state school. I don't have any money saved for her education and do not make enough to cover the cost of this college. What are my options? She's an A student and is planning to go to medical school. Answer: You need to have the conversation you probably should have initiated a few years ago, before she started the college application process. She must understand that what she wants and what you can afford to provide for her may be two very different things.

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