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NEWARK, Del.--([ BUSINESS WIRE ])--The transition from high school to college evokes a range of emotions from parents according to a new survey from Sallie Mae, the nationas No. 1 financial services company specializing in education. Most parents of this fallas incoming college freshman class feel excited (75%) to send their child to college, and many express mixed emotions including feeling anxious (30%), nervous (28%) or stressed (20%).

"Getting ready to hit the books also means final financial deadlines are arriving. The good news is there are smart options to help make ends meet."

For 60 percent of parents the most difficult aspect of sending a child to college is figuring out how to pay the costs of college. Nearly half have a pay as you go mentality with 31 percent expressing some concerns but feeling sure theyall afigure something out.a Only one-third say theyare ready to pay for college this fall, while one-fifth express concern or misgivings.

aEntering your freshman year in college is a significant transition for the entire family,a said Joe DePaulo, executive vice president, Sallie Mae. aGetting ready to hit the books also means final financial deadlines are arriving. The good news is there are smart options to help make ends meet.a

Sallie Mae recommends the following last minute tips as freshmen and returning college students pursue their college careers:

• Apply for federal aid. Itas not too late to complete the FAFSA, or Free Application for Federal Student Aid to apply for federal financial aid.
• Pay as you go. Hundreds of colleges offer interest-free [ tuition payment plans ] that spread out payments over a number of months rather than one lump sum at the beginning of the semester.
• Educate yourself on the best borrowing options. If you need to borrow, explore federal student loans first and fill the gap with responsible private education loans. [ Sallie Maeas Smart Option Student Loan ] offers families the choice of fixed or variable rates and in-school payment plans, as well as zero origination fees and family-friendly rates and safeguards.
• Use financial aid refunds wisely. If your college issues you a refund from grants or loans to cover your out-of-pocket educational expenses, choose the refund methoda"check, automatic deposit or debit carda"that works for you and your banking habits. Be sure to understand any associated fees and steps you can take to avoid them. Keep careful track of your budget to use funds for their intended educational purpose, and, if you received more than you need, return the extra immediately to reduce your borrowing.
• Safeguard your tuition investment. For many young adults and their families, college is the second-largest financial investment theyall make. Families have the option to protect their investment with tuition insurance, yet 65 percent of students and parents say they are unaware of such an option. With Sallie Maeas program, up to 100 percent of the lost cost of attendance is reimbursed if a student has to withdraw from his or her studies for medical or mental-health-related reasons.
• Set expectations with your college-bound kid. More than half of parents have had frequent conversations with their child about keeping up with academics (59%). More than one-quarter of parents said they will contribute to college with ano strings attached,a but most parents have stipulations such as maintaining a minimum GPA (40%), staying out of trouble (28%) or working while in school (19%). Meanwhile, whether it is catching up or checking in, 40 percent of parents plan to stay in touch with their college student via daily text messaging.

Sallie Mae also released an [ infographic ], aHow Parents Feel About Their Childrenas Transition to College.a

About the survey: Sallie Mae conducted an online survey of more than 500 parents of high school seniors graduating in spring 2012 and headed for college in fall 2012.

Join the conversation on how to save, plan and pay for college at [ Facebook.com/SallieMae ].

Sallie Mae (NASDAQ: SLM) is the nationas No. 1 financial services company specializing in education. Whether college is a long way off or just around the corner, Sallie Mae turns education dreams into reality for its 25 million customers. With products and services that include college savings programs, scholarship search tools, education loans, insurance, and online banking, Sallie Mae offers solutions that help families save, plan, and pay for college. Sallie Mae also provides financial services to hundreds of college campuses as well as to federal and state governments. Learn more at [ SallieMae.com ]. Commonly known as Sallie Mae, SLM Corporation and its subsidiaries are not sponsored by or agencies of the United States of America.

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