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Anytown U Times Two
Planning for Multiples to Attend College By Barb Eimer
As the old saying goes, "You've come a long way, baby!" If your twins are getting ready for college, you need to stop and pat yourself on the back. You've survived those first months, when your babies played a twisted version of tag. "You're it," one would whisper before falling asleep. Then the other would be awake for a few hours before tagging his or her sibling, and the whole game would start again. You've made it through the first steps, which, unfortunately, were followed closely by the first climb and the first fall. You've progressed from baby food to regular food to fast food. And, as you've watched them grow, it has been amazing to see how two people can be so alike and yet so different.
Now another milestone is quickly approaching. Your children, who it seems just yesterday were cuddled safely in your arms, are heading off on their own for the first time. If you are like many parents, the number of choices can be a bit overwhelming. You think back to their first day of kindergarten and the questions you had. Should they be in the same class? Should they be dressed alike? Should I encourage them to have the same friends or make different ones? And how am I going to pay for everything they'll need in the coming years?
Now, it's d諠 vu as you wonder, "Should my twins go to the same school? Join the same fraternity/sorority? Live together or apart?" and last, but not least: "How in the world am I going to pay for all this?"
"Financial aid is given on the basis of need," Lowe says. "Need is defined as the difference between what it costs to attend a specific college and what you can contribute to those expenses. If your education will cost more than you are able to pay, then you have demonstrated financial need."
The three types of financial aid available to college students are grants and scholarships, loans and work-study programs. Usually, financial aid is a combination of different kinds of assistance and is called a "financial aid package." Colleges have financial aid administrators who can help you with the details of putting everything together.
Many parents of twins work with an accountant or financial planner so that the investments they choose will provide enough income when college rolls around. But, as mentioned earlier, the financial part is only one side of the coin. The other is trying to sort out which school is best for each of your twins. Although it would be easier if there was only one correct answer, this doesn't seem to be the case.