Getting into your top college choice is a wonderful honor and experience, however, having the money to pay for it is a whole separate part of the decision-making process. Being realistic about what you can afford is another aspect of choosing the perfect school for you. If you or your parents have not saved money for your education and you are planning on entering a low-paying field, maybe going to an expensive private university isn't the right option.

However, by analyzing your college costs in a realistic way, you can find the money to go anywhere, as long as you take advantage of the financial resources available to you. So, your first step to funding your college education is: estimate the total cost of your tuition and living expenses.

Consider and write down: the cost of your tuition for the duration of your program, living costs (rent, utilities, food, housing basics, etc.), transportation, textbooks and other expenses. Then, add them up for the length of your program (example: four years) and then you'll have a basic idea of how much college will cost.

Next, break it all down in a spread sheet so you can see exactly how everything adds up. Or, you can use this handy college cost calculator, The College Cost Calculator.

The next thing you want to do is talk with your parents. Will they be helping you with any of your expenses? Have you saved any money for school? Examine how much money you and your parents have in relation to the total amount you'll be spending, which will help you figure out how much you need to supplement your finances while in school.