Does the thought of paying for college keep you up at night? Are you dreading what life would be like financially if you decide to pay for your child’s college education? Before throwing in the towel, discover 3 myths that may very well be holding you back and the facts that can give you hope.

Myth #1: A college education is too expensive.

This myth is funny because it has spread in the media like wild. Consider this; Let’s say I was a school teacher earning $44,000 a year. I decide to buy a new car and naturally walk into the “supposed” best car dealer in town. In my town this happens to be a Rolls Royce dealership. I look around and soon discover that the average price of the most basic model is $295,850. I walk away shaking my head telling everyone who will listen, “a car is too expensive.”

The truth: a college education is NOT too expensive

The fact is, the specific college your child is interested in may be too expensive for your budget, but it’s not too expensive for the right buyer. Like the car example above, if we were friends, would you agree with me that cars in this town are too expensive, or would you say, “Hey, Buckwheat, keep shopping at the other 5,000 dealers in this town.”

Myth #2: Student loans are a necessary evil

This myth is traditionally spread by professionals who really should know better. In an effort to take their advice, many financial aid professionals make these types of statements to make you, as a parent, more comfortable with debt.

The truth: Your child can earn a degree without debt. As the financial landscape changes in this country, parents are rightly becoming more skeptical about taking on too much debt. Unfortunately, when asked how to pay for college, some financial aid advisors advise many parents to opt for excessive student loans that are totally unnecessary.

Myth #3: I have to collect all the tuition money at once

This myth is a good one because it takes advantage of a person’s lack of knowledge about how payments for college expenses are processed. Many people think they have to have the entire cost of tuition, room and board, and books all at once.

The truth: In most cases, you won’t need to have 100% of the money for your child’s education, but you can set up an installment plan with the college. This helps because in many cases, as payments are spread out over time, it is now possible to pay for college without loans.