At some private colleges, students can potentially save thousands on tuition costs by prepaying for upcoming academic terms. But, despite the cost savings, there are some potential drawbacks to using a college’s tuition prepayment plan.

As your child gets closer to high school age there are opportunities to start preparing for college academics, financial aid and even college life. Here are steps you can take to prepare for college starting when your child is in middle school.

The number of colleges pursuing tuition resets (tuition cuts) has surged in recent years. From 1987 through 2011, an average of one college a year cut tuition rates. From 2012 through 2018, the number of colleges cutting tuition increased tenfold to an average of 10 colleges per year, peaking at 18 in 2018.

It's every parent's dream: your child gets a gigantic scholarship to college and you've got thousands of dollars leftover in your college savings account. What to do?