FAQ College Planning

Thought bubble with the words "I have a question..."Are you sending your child or grandchild to college? Here are answers to some common questions. If you’re just starting the process, there’s a lot to learn, and having someone show you the ropes can make a lot of difference, not only for your child or grandchild, but for your investments and retirement. You need a good strategy.

Q. I’ve read that you can’t qualify for college financial aid if:

  • you own your own home
  • you have savings
  • you make a certain amount of money
  • you’re not working

A. These ideas are simply not true. There are many people who have qualified for financial aid with those circumstances.

Q. Is it wise to seek out college financial aid from unclaimed awards.

A. This is not the best or the only strategy. There is more than $185 billion in financial aid awarded each year, and unclaimed scholarships represent only a fraction of what is available.

Q. Do all students pay the same tuition?

A. No. Don’t let tuition “sticker price” scare you from applying to any school. Some people pay full price, and others pay far less. Your actions, and your circumstances are what makes the difference. There’s a lot that goes into understanding the ACTUAL price someone pays to get a degree. You may be very surprised once you have all the information.

Q. Is all college financial aid alike?

A. No. There are many funding sources, and they vary greatly.

Q. Should I wait until after my child has been accepted at a college before applying for financial aid?

A. No. This belief is not only a bad strategy, it may prevent you from opportunities you would have had if you’d met the financial aid application deadlines.

 

I’m sure you have many more questions. I have answers for you. So, let’s get started. Give me a call and we can talk about it. I’d be more than happy to help.