How to Avoid College Credit Card Debt

After you've nailed down a budget, you and your student face a basic decision: how to transfer money from the Bank of Mom & Dad to your student in a secure and timely manner.

Paper checks and snail mail will do the trick, but why bother when electronic transfers are available? Such transfers can be a snap, especially if you and your student use the same bank.

"You don't need bricks and mortar to do banking," says June Walbert, a Certified Financial Planner at USAA Financial Planning Services. "Kids are Internet-savvy and can do everything online."

Think about who will pay the monthly bills. If your student has little or no experience with money, it might be smart for the parents to write the tuition, dorm fee or rent checks – at least at first. Even if your student handles money well, consider depositing the tuition and rent money in your student's account just before it will be needed.

Read more at: How to Avoid College Credit Card Debt