Going to college is not just a matter of receiving an acceptance letter. A lot of students and their parents worry about paying for college, especially if they did not invest early on a 529 college savings plan. It could cost around US$12K (full year tuition, room and board) at a public university and double (or even triple!) that at a private university.

If you have yet to figure out where all those money would be coming from, you would have to check what financial aid is available so your child can go to college.

Full-scholarships are, of course, that manna from heaven given to smart kids. It's the best option since you nor your child need not repay anyone. Start scouring the web for available scholarships being given out by organizations and universities.

Another possiiblity for your über-achiever is to apply for a grant which, like scholarships, need not be paid back. The Federal Pell Grant is just one example.

Need-based Financial Aid are for those who, obviously, are not able to pay for the cost of education. Fill out a FAFSA form.

Another possibility is for your child to work while studying. Ideally, he/she would find employment that is related to their academic studies.

Student loans are probably the easiest college financial aid to secure. Look for interest-subsidized and payment deferred student loans so your child can affordably repay the loan.