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Most students begin choosing a university they want to attend the summer before their senior year in high school. It is really important to begin researching and applying to colleges early on so that you will have all the decisions made when it comes time to apply in the fall. It is important to apply early because if you wait too long there may not be any spots left. So, here are a few things you will want to consider when it comes to choosing a college.

Academics

The biggest reason for kids to go to college is to get an education. So, the first thing you should focus on when it comes to choosing a college is the academics. Remember, that some colleges are known for their science programs while others are known for engineering, medicine, law, and others. Determine more or less what you want to major in and then choose a college based on this. It is important to make a list of your top three majors so that you look for a school that is good at all of these. The reason why is most college kids change their majors several times and you never know when you begin where you will end up!

Extracurricular Activities

You want to have fun while you aren't studying, so it is important to find a college that has a great selection of extracurricular activities. This includes political clubs, intramural sports, and more. You want to have fun while at college and foster new ideas and friends. Extracurricular activities are a great way to do this. Plus, you can explore things you like in a safe setting. For example, you could join the Young Republicans or Young Democrats club. Join a sorority or fraternity, or play a sport! There should be a lot of options open to you so that you can make the best decisions for your college years.

Cost

Another thing you will want to look at when choosing a college is cost. Public institutions cost less than private ones, and generally a lot less. You could probably even cover your tuition at a public institution on your student credit card if you didn't have any other funds. But, that is never the case with private colleges. They cost $20,000 or more per year and when you add up four years of college, not to mention post graduate studies, you are looking at some major debt. So, if there is a public institution that rivals a private one, then consider the cheaper option. You will find your student credit card limit goes a lot further when your semester's tuition is only a couple thousand dollars.

Ranking

School ranking is also important. You want to go to the best school you can get into so you get the best education. That means you need to evaluate the schools you are interested in and see where they are ranked. Doing this will help you choose the best schools to apply to.

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If you're like many Americans, you face a variety of challenges every day. Most parents and some grandparents find themselves fighting a battle on two fronts: saving for retirement and college at the same time. This can be a tricky problem. Saving more money in one of the plans invariably leads to saving less in the other. Obviously you want to have enough savings to retire comfortably, but at the same time, to put your kids or grandkids through a quality college.

So where do you draw the line between taking from one to give to the other? And how do you plan successfully to find a proper balance that benefits both you and your children? That problem is highlighted by the question of whether or not you should withdraw from an IRA to help pay for college tuition. The general consensus seems to be: not if you can help it.

Generally you want to have a successful enough college savings program that you don't have to worry about finding alternative sources of money for tuition. But with sky-rocketing credit hour prices and housing costs on the rise, it's a more difficult proposition than it was even a decade ago.

But while prices have been increasing, so have opportunities to save. 529 Savings Accounts, Prepaid Savings Accounts, and Coverdell Accounts are just a few of the easy ways to save for college.

One advantage of an IRA withdrawal is that the money can be used for any qualifying educational expense. But, the disadvantages are obvious. You're taking away from future retirement savings and you're reducing the amount of earning power you previously held. You're also faced with the fact that IRAs have contribution limits ($4000 a year) that can make it hard to restore your previous savings level.

But that doesn't mean there aren't ways to catch up. Currently, for people over 50, the law allows you to make extra contributions of up to $500 a year, this is set to increase to $1000 a year in 2006. While this isn't much, it can at least help restore some of your withdrawal. However, just as college savings opportunities have increased, so have retirement savings opportunities. Part of a comprehensive retirement plan includes investing in various types of retirement plans, including 401(k)s and private savings. In addition, your entire retirement shouldn't be too heavily anchored in one savings vehicle, IRA or otherwise.

No matter what you do, it's usually wise to seek input from a financial professional. Withdrawing from an IRA to pay for college has a lot of unseen consequences that can harm your retirement plan and make your golden years a bit more lean. One of your best bets is to plan carefully for college as soon as possible for your children or grandchildren so you're not forced to decide between retirement or college.

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Both Tom Tessin & Robert Valentine are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Tom Tessin has sinced written about articles on various topics from Mileage and Fuel, Education and Finances. Find a and more of Tom's work at FINDcollegecards.. Tom Tessin's top article generates over 673000 views. to your Favourites.

Robert Valentine has sinced written about articles on various topics from Financial Planning, Retirement and Health Care. Robert Valentine is a well-known expert in the matters concerning investors. His popular articles have been published by several. Robert Valentine's top article generates over 12100 views. to your Favourites.

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