Here is a great article on college and how to help your child before they are committed to a school. Help them understand their financial decisions.
The important thing is to start this conversation early - like freshman year in high school for they are saving and preparing for the responsibilities of college. In my role as college instructor, I see too many graduating Seniors not ready to take on their financial loans because they do not know even how much they have.
http://www.reuters.com/article/us-money-education-college-idUSKCN0XM1EZ