Indiana State University Newsroom

College financial planning session set for young families

April 8, 2010

Putting aside even a small amount of money each month can dramatically help pay for college years down the road. Exploring creative and economical ways for young families to save is the sole goal of a financial planning session to be presented by Indiana State University.

ISU's Office of Student Financial Aid will host a presentation and question/answer session by Michael Collins, a certified financial planner, from 7 - 8 p.m. April 29 in University Hall, the home of the Bayh College of Education, at 401 N. Seventh Street.

"Saving for college is not on the radar screen for most young families. According to the most recent national data, the average college student graduates with a student loan debt of $19,000. However, by starting to save when children are infants - even with a modest investment equal to the cost of a monthly trip to the movies - a family can save nearly $8,000 toward college by the time their child graduates from high school," said John Beacon, vice president for enrollment management, marketing and communications at Indiana State.

"There are many ways to plan for college expenses on virtually any family budget," said Kim Donat, director of student financial aid. "As part of ISU's commitment to community service, we are pleased to launch this free program which promises an evening of common sense financial planning advice to help families prepare to meet future college costs."

The event targeting families of children from birth through eighth grade will conclude with a drawing for two $750 awards which may be applied to the first year of tuition at Indiana State, should the winners' children decide to attend the university.

Staff from the Bayh College of Education will provide free child care during the seminar for children ages three and older. The event is free but reservations are requested. To reserve a spot, call 812-237-2339 or send an e-mail to and indicate how many adults and children will attend.

Contact: Kim Donat, director, Office of Student Financial Aid, Indiana State University, 812-237-2215 or