Most families don't think about financial aid until senior year—but by then, important planning windows may have already passed.

If you're a parent of a 9th or 10th grader, this guide is for you. You don't need to be an expert yet—but understanding the basics of how financial aid works now can help you make clearer, calmer decisions later.

What Is Financial Aid, Really?

Financial aid includes more than just the FAFSA. It's any money that helps reduce what you pay for college, including:

• Grants (need-based, do not need to be repaid)
• Scholarships (often merit-based)
• Work-study (campus jobs that support your student)
• Loans (which need to be repaid after graduation)

Each college has its own rules about what kind of aid it offers, and how much.

Sticker Price vs. Net Price

The sticker price is the full cost listed on a college's website—often $60,000 or more. But very few families pay that number.

The more important number is the net price—what your family would actually be expected to pay after grants and scholarships are applied.

You can estimate this early using each school's Net Price Calculator.

Why It Helps to Start Early

Starting early doesn't mean filling out forms in 9th grade. It means understanding:

• What kind of colleges tend to offer generous aid
• Whether you might qualify for need-based aid
• How merit aid works at different schools
• How savings might affect aid offers

The earlier you understand the basics, the easier it is to build a list of financially realistic schools.

What Parents Can Track Before Junior Year

You don't need to commit to anything yet—but you can start organizing key information that will matter later:

• Household income and savings
• Colleges you're interested in
• Whether those schools offer merit or need-based aid
• Scholarship programs that open early (some start junior year!)

A tool like CollegeHound helps families keep this information in one place—so you're not starting from scratch during application season.

How to Talk About Cost With Your Student

It's okay if your child isn't thinking about tuition yet—but having early, age-appropriate conversations about cost sets realistic expectations later.

Try:

• "Let's explore schools that offer strong scholarships."
• "We'll use a tool to estimate costs before deciding where to apply."
• "You don't need to worry about money right now—but we'll plan together as we go."

Conclusion

You don't have to wait until senior year to think about college costs. By learning how financial aid works and organizing early, you can reduce future stress and make informed choices.

CollegeHound helps families take small, steady steps toward clarity—so when the time comes, you're ready.

Want to learn more? Discover what a college prep digital binder is or read our FAFSA guide for beginners.