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3 Tips for Covering College Tuition for Multiple Children April 20, 2020

Downtown Honolulu, Honolulu
3 Tips for Covering College Tuition for Multiple Children, Honolulu, Hawaii

As a parent, you may encourage your children to seek out a college degree to improve their career and salary opportunities. Unfortunately, attending college requires high tuition costs. While many can take out student loans to cover these costs, this financing option often leaves people needing serious debt relief. Rather than placing this burden on yourself or your kids, consider these three ways to reduce tuition costs if you have multiple children attending college.

3 Ways Parents Can Save on Tuition Costs When They Have Multiple Kids in College

1. Calculate Your EFC

Before students enter college, they must complete a FAFSA, or Free Application for Federal Student Aid.  This application collects various pieces of information regarding parental income to determine how much they can reasonably contribute to a child’s tuition, a figure known as the Expected Family Contribution or EFC.

When you have multiple children attending college at the same time, your EFC will reduce for each student. As this figure decreases, your children’s likelihood of receiving federal aid will increase.

While increased aid opportunities will lower tuition costs, remember that these benefits will cease when older students graduate. Once you only have one child in college, the EFC will go back to the maximum amount, putting them at risk of having to take out student loans and face higher debt relief needs upon graduation.

2. Research Sibling Discount Programs

debt reliefWhen your children are researching universities, look at each institution’s financial aid programs. Many schools offer discounts to students who enroll at the same university as a sibling. In some cases, this discount will come in the form of flat-rate reduction. In others, the tuition will be decreased proportionately to the parent’s expected contribution.

3. Stay In-State

As you compare tuition rates, including those that involve sibling discounts, look at the cost of in-state universities. When students attend a public institution where they have established residency, they will pay much less than if they attended a similar school out-of-state.

In-state schools are also more likely to extend financial aid and scholarship to local students. When paired with sibling discounts, this assistance may greatly reduce your children’s tuition requirements.


If you’re a parent or a student who’s struggling with education-related debt, Greg Dunn, Bankruptcy and Debt Relief Attorney is here to help. Based in Honolulu, HI, this attorney will review your financial situation, and if applicable, help you explore ways to lower student loan interest rates and regain your financial footing. To learn more about these services, visit this Oahu debt attorney online or call (808) 524-4529.

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