SPRINGFIELD, Mass. (WGGB) — Your child got into a great college or university. Now comes the next test and challenge – paying for that education.

Monday night on ABC40 News at 5:00 p.m., we had a panel of experts available to answer your questions on the ever rising cost of tuition and fees.

Thanks to our panel of experts that took part in Monday’s event:

• Martha Savery – MEFA, the Mass. Educational Financing Authority
• Edward Ciosek – Director of Financial Aid, Springfield College
• Kathleen Chambers – Director of Financial Aid, Western New England Univ.
• Shawn Torres – Director, Charter Oak Insurance and Financial Services, Holyoke
• Michael Matty – President, St. Germain Investments

In case you missed tonight’s segments, here are some helpful links:

How much will that college really cost?

Setting up a budget for college

What types of financial aid can I get?

Do I qualify for student aid?

Apply for federal financial aid with the FAFSA

FinAid.org – Information on scholarships, loans, and saving

Repayment Plans for Federal Student Loans

Understanding student loan default

Introduction to 529 Plans (College Savings Plans)

Consolidating Federal Student Loans

PLUS Loans – Loans available for grad. students and parents of undergrads.