College is a significant investment and figuring out how to pay for it can be a major source of concern for parents and students. It’s easy to see why the topic causes stress: Outstanding student loan debt has now reached $1.2 trillion, according to 2013 estimates from the Consumer Financial Protection Bureau.

Yet there are ways to help reduce the amount a family or student has to borrow to fund a college education, especially if you start early.

“It’s never too late for families of college-bound students to reduce costs, if they consider options well before senior year,” says Cynthia Tidwell, CEO and president of Royal Neighbors of America. The life-insurance company has awarded more than $4 million in college scholarships since 1962. “The key is to think creatively—whether it’s earning college credits in high school, using financial tools that allow for cash savings, or researching scholarship options—don’t mortgage your own financial future or saddle your child with debt that could keep her or him from reaching their dreams,” Tidwell adds.

Here are four ways to reduce college debt.

1. Earn college credit in high school. Many high schools offer students the opportunity to earn dual high school and college credit through advanced placement (AP) courses or joint programs with local community colleges. That means your teen can enter college with a few credits already under her belt, and may be exempt from certain core classes to complete a degree (depending on the college or university’s requirements).

2. Consider a community college. Average annual community college tuition and fees are less than half of those at public four-year colleges and universities and one-tenth those at private four-year colleges and universities, according to a 2008 report from the National Center of Education Statistics. The University Transfer Program at Pulaski Technical College, Arkansas’ largest two-year college, helps students work towards a bachelor’s degree. Other programs, from human services to culinary arts, prepare enrollees for the workforce.

3. Learn about financial options. There are many different financial products to help save for college. Under certain circumstances, some colleges and universities lock in tuition for all four years. Even certain life insurance policies offer cash savings options to help pay for expenses such as college tuition, weddings, or starting up a business. Look for permanent or whole life policies with cash value accumulation options.

4. Research scholarships early. Scholarships are available for traditional and non-traditional students, but don’t wait until senior year to research. Some require organizational membership, volunteer hours, or criteria that may take time for the student to be eligible. Start your search with the Arkansas Department of Higher Education, which offers the Academic Challenge Scholarship (funded largely by the Arkansas Scholarship Lottery), a Governor’s Scholars program and more. Arkansas Community Foundation, a statewide nonprofit dedicated to strengthening communities through smart giving, is also a valuable resource. The organization manages more than 250 scholarship funds created by individuals, families and corporations. School guidance counselors can also help find niche scholarships and grants that fit a student’s interests or goals.

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The Arkansas 529 College Savings Plans is an easy way for any parent, grandparent or caregiver—regardless of income—to start saving for their children’s futures. The GIFT Plan 529 offers an Arkansas State income tax deduction and other tax benefits. The funds are set aside for the sole purpose of schooling, whether your child chooses to attend a traditional four-year college, trade school, or any other school accredited by the U.S. Department of Education.

Plus, for those who have a household income below $60,000 per year, the program offers a matching grant. That’s right—free money! The maximum matching grant is $500 a year for up to five years. You can learn more about the program at Arkansas529.org.