College Loans for Parents

Borrowing money to pay for your child's education? Take advantage of this federal loan program.

A college education is an investment in your child's future that pays big dividends. The Census Bureau reports that U.S. workers with a bachelor's degree earned an average of $54,689 in 2005, compared with $29,448 for workers with a high school diploma.

So it can make sense for students to borrow judiciously to finance their own education. Like a home mortgage, student loans at subsidized interest rates can be used to purchase an asset that appreciates over time.

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.