The economic crisis isn’t just shrinking retirement funds. Many families are watching the money they put away for their children’s college tuition dissipate.
Let your financial aid officer know what your specific situation is. If it’s changed significantly, you may be eligible for more aid than you were in the past. A drastic loss of income in the family can change your eligibility for financial aid.
One thing I would strongly recommend is setting up a secondary savings fund for misc. college expenses that before you were not saving for. Such things as food,and other expenses that maybe you werent planning on setting aside. With the rising cost of college and economic hard times it can never be enough to set aside additional savings.
You can also use services like BillShrink, a service that will help you save money on common things like cell phone plans. Take the money you save from Bill Shrink and push it into a savings account for future expenses and you will be much better prepared for educational expenses in the future.