My daughter is going to college next fall. I'm so proud. I was a first generation college grad and even achieved a masters. I was both a need based and merit based college aid applicant as I was a independent single mother. But my daughter will be dependent. I'm not sure how the financial aid options work for dependent students with two parents and some middle class income.....Could someone steer me in the right direction to learn the system and what options (best and worst) are available? TIA

Have you checked out the schools FA site yet?? Or FAFSA???

Yes LynnInMn, I do know about FASFA but can't fill out the form until after Jan 08 and I have reviewed the FA sections of the various schools she finds of interest. I'm interested in the specifics of FA, such as will she qualify with two parents with middle class income. My student loans have a low intrest rate but parent loans have triple the intrest rate....are there other options.....maybe you know a website that will explain some of this, if not, okay...I just thought I would ask the people who might know more than me.

http://www.finaid.org/calculators/

And PLUS loans are NOT triple the interest rates of stafford loans. Staffords 6.8%, PLUS Loans 8.5%

http://www.finaid.org/calculators/

And PLUS loans are NOT triple the interest rates of stafford loans. Staffords 6.8%, PLUS Loans 8.5%

Thank you very much. The website is very useful and is what I needed. I understand that current stafford loans are at 6.8%. I was referring to my own consolidated student stafford loans that have a lesser interest rate as I consolidated at the right time and also received extra loan reduction perks with my consolidator. The current Plus loans are almost 3x that much, but not true for the current rate. Thanks again for the direction.