A college degree is one of the most expensive purchases an American family can make. While today's costs are higher than ever before, parents have many more options whose sheer number and complexity have given rise to a whole new field-financial planning for college. This article, which is based on materials created for the enrollment management program at Tulane University, will supply admission and recruitment staff with practical financial planning advice that they can share with parents. It is a primer in college finance with enough detail to allay a family's fears and keep them engaged in the discussion of college affordability. The reaction from the families of prospective Tulane students has been very positive. They found this piece among the clearest and most comprehensive treatments of college finance that they had encountered. This article focuses on federal need-based programs and explains how savings and other investments affect a student's eligibility for financial aid under the federal program guidelines. Institutionally-funded aid programs are mentioned when appropriate. (Contains 2 figures, 5 tables and 1 note.)