Can't Afford College? Let a Sugar Daddy Pay

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It's the beginning of May, when high school seniors have to put their money where their intentions are. Deposits are needed to confirm a spot in college this fall. What if you're not sure you'll have enough money to pay the full tuition bill?

Never fear, some creepy old man is here.

A while back, SeekingArrangements.com came out with the top schools for young coeds looking for older, richer men who might be willing to help out with college costs. SeekingArrangements specializes in matching so-called Sugar Daddies with Sugar Babies seeking "Mutually Beneficial Relationships® & Mutually Beneficial Arrangements™." (Yes, they've registered and trademarked those phrases.)

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The college with the most coeds signing up to the website was Georgia State. Nearly 300 (presumably) female students had opened accounts. Go Panthers! If you're lucky, you'll never be cougars!

Following closely in second place was New York University, with Temple University in third, University of Central Florida in fourth, and University of South Florida in fifth. In fact, four of the top 15 schools are in Florida. Ladies, look around. You're in Florida. There are plenty of old geezers with cash. You don't need to go on a website.

But wait. There's more.

What's the best way to succeed as a Sugar Baby? "Be brutally honest."

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That's one piece of advice from the SeekingArrangement's "Sugar Baby Dos and Don'ts" blog, which suggests "The best Sugar Baby and Sugar Daddy relationships form out of brutal honesty." Really? Because that doesn't seem the best way to score $200,000 over the next four years.

Other advice includes "Don't Settle—'This is how Sugar Babies end up in Splenda relationships. Pick wisely and stick to your standards.' " So, in other words, make sure he pays for books, too, or the whole deal is off.

But my favorite tip is "Don't: Rely on Sugar for Income." Ok ... just rely on him for college. "Sugaring is not welfare" the blog warns. "Consider it like an end-of-the-year bonus that comes every month."

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You know, it might just take a college degree to figure out the best way to approach this. Good luck, kids. And Go Panthers!

—By CNBC's Jane Wells. Follow her on Twitter: @janewells.