This is the month where incoming freshman start getting their financial aid packages from the colleges.  Students and their parents have to review them and ensure they get the most free money possible from the colleges of their choice.  This also give them the opportunity to negotiate for the best financial aid package.  You want to seek free financing and the least amount of loans.  Parents should not take out loans period.  If you planned properly with the right professional guidance you should be able to get more free financing than loans.