By HOLLY WAGNER

Herald-Whig Staff Writer

When Bradley Scott's department was eliminated at a Quincy firm earlier this year, his son, Sam, saw his plans for college change as well.

The family moved to a different state when his dad found a new job. Scott, a Quincy High School senior, will stay in Quincy until graduation.

"I was going to go to college in Illinois," Scott said, "but I had to totally rethink all that."

Scott got accepted at Oklahoma State University, where he hopes scholarships will help make the tuition more affordable.

Scott is one of the leads in the QHS musical, "42nd Street," as is Amanda Saul, another senior. Saul also says she has scaled back her college plans, giving up the idea of attending her "dream college" and focusing on less-expensive state schools that are closer to home so she can save on both gas and tuition.

"How much money I have affects what college I go to," she said.

It's prime college-visiting season for the high school class of 2009, which next fall will send the greatest number of graduates on to college in American history. However, the souring economy and the crisis on Wall Street are shrinking families' college savings, and some parents wonder whether they will can afford tuition at the schools their youngsters are looking at.

"I've heard that concern over and over and over again," said Judy Liesen, a counselor at Quincy Notre Dame High School, where 95 percent of the students move on to some kind of higher education.

For many families, both parents and students are having to make practical, cost-cutting decisions. Some are selecting public schools over private ones or choosing to enroll in community colleges and stay home for the first two years.

Because of plummeting housing prices, many families can no longer count on the equity in their homes to help them pay for tuition.

More of QND's graduates will be enrolling at John Wood Community College their first two years and transferring later to a four-year school.

"They're truly using that as Plan B," Liesen said.

Already the worsening economy has had an effect at JWCC, said John Letts, vice president for student services.

While the credit hours have stayed stable, full-time enrollment has risen 14 percent and part-time enrollment is down 14 percent. Statewide, community colleges are seeing a 2 percent increase in enrollment and nearly 3 percent in credit hours.

"My suspicion is that we're going to see an increase" next fall, he said.

QHS Counselor Mike Llewellen said his students have not yet expressed many worries about tuition, but that may change in January after parents complete the FAFSA (Free Application for Federal Student Aid).

"Right now, (students) are concerned with getting accepted," he said.

Already, federal loan applications are up, and some schools are seeing more aid inquiries.

College savings plans have been hit hard in the stock market. A year ago, "529 plans" that were designed to encourage saving for future higher education opportunities held a combined $110 billion. Preliminary figures from Financial Research Corp. show the value of 529s declined 9 percent last quarter even with new money coming in -- and that was before last week's slump on Wall Street.

Even so, the 529s are parents' best bet, said Kevin Brown, Quincy University's director of financial aid. The 529 plans are still being honored.

About 95 percent of QU's students put together a financial aid package of about $18,500 from the institution and federal and state government toward the $28,690 cost for room, board and tuition. A student who lives at home pays $20,100 for tuition.

Enrollment at QU reached record levels this fall, Brown said. Although QU's endowment fund was hurt in the stock market, its level of scholarship granting is unchanged so far. Brown said his staff works closely with its students and their parents to ensure that anyone who wants to attend the small, private, liberal arts college may do so.

Parents and students are watching their budgets and making sure they get the best value in their college education and that its programs ensure they will graduate in four years or less, Brown said.

-- hwagner@whig.com/221-3374