Summer has wound down, but the September festivities for National College Savings Month are just beginning!

Are you the parent of a high school student? If so, welcome to one of the most formative phases of your student’s life. While the path to college or career training is definitely your student’s journey, as a parent you play a major role—both financially and from a practical perspective.

For families with a high school senior, this is the month college acceptances arrive in full force (congratulations!), and with them, financial aid notifications. It’s an exciting time, and—let’s face it—also a bit overwhelming as deadlines loom: Most colleges require a deposit by May 1.