Step 1: Concept
For a parabola $y^2 = 4ax$, the parametric point is $(at^2, 2at)$.
Step 2: Analysis
Given $y^2 = 8x$, comparing with $y^2 = 4ax$ gives $4a = 8 \implies a = 2$.
Step 3: Calculation
Substitute $a = 2$ into $(at^2, 2at)$: $(2t^2, 2(2)t) = (2t^2, 4t)$.
Final Answer: (E)