The cost of higher education has risen steadily over the past decade. With state governments under intense pressure to balance their budgets, colleges across the country have experienced a reduction in government support; resulting in tuition increases.

Increases in college tuition have made it more difficult for families to pay for college. We've compiled some tips to help you pay for your college-bound student's higher education.

• Start to save early -- even if you can save only $50 each month, the earlier you save, the more money you'll have to help pay for your student's education. Some of the more popular savings vehicles include Prepaid Tuition Plans, Coverdell Education Savings Accounts, Education Savings Bonds and mutual funds.
• Encourage your student to search for scholarships from multiple sources. Scholarships are available from local civic and service organizations, businesses, labor unions, foundations, and religious organizations. Your student can search the Internet for scholarship databases -- AES offers a free scholarship search on our education supersite, www.EducationPlanner.org.
• If your student doesn't mind postponing college for a few years, a full tour of duty in the military can be worth as much as $65,000 in education benefits. If this option doesn't appeal to your student, ROTC scholarships can pay tuition and fees. Scholarship recipients also receive a monthly stipend for each academic month plus an allowance for books and other educational items. ROTC scholarships are merit scholarships based on academic achievement, extracurricular activities, and personal interviews.
• Encourage your student to consider all options when making their college plans. Be realistic. Some schools simply may be out of your financial ballpark. Your student doesn't necessarily have to attend a more costly school to get a quality education. Your student's school counselor is probably the most informed resource available to you. Be sure to consult with their high school counselor when discussing college options.
• Do some comparison shopping -- higher education is expensive, but schools across the country are competing for students and most offer institutional aid that can significantly reduce the cost of attending college. Contact the Financial Aid Administrator at schools your student is interested in attending to determine the amount of aid they may offer.
• Last, but not least, apply for federal student aid -- many families assume they will not qualify for federal aid, so they don't apply. It doesn't cost anything to complete the FAFSA (Federal Application for Federal Student Aid); the information you and your student provide on the FAFSA determines your student's eligibility for federal grants, work-study, and federal student loans. You should complete the FAFSA as soon as possible after January 1st of your student's senior year of high school.