Mistake #10: Going Through The Financial Aid Process By Yourself Because It’s “Cheaper”.
Reality: If this describes you, the colleges and Federal Government are going to love you! This allows them to keep control over the financial aid process instead of you, the parent. When you understanding how the process works you take back control from them. It always amazes me that people will readily use a doctor when they get sick or a lawyer when they get sued, but suddenly when they are going to send their child to college and spend between $20,000 – $60,000 per year or more, parents want to save themselves a couple of dollars and do it themselves. Unless you spent the last 5 – 10 years of your life studying and understanding the financial aid process, there is no way you are going to know how to get the maximum amount of money from each school. And, if you do try it yourself, you’ll probably spend countless hours trying to figure it out. The moral to this story is “Don’t Be Penny Wise And Dollar Foolish!” Use an expert who can help you through this process and make sure you get everything you’re entitled to.
How A College Planning Expert Helps Smart Families Maximize the Financial Aid Process
- Determine your “College Number”: COA (Cost of Attendance) – EFC (Expected Family Contribution) = Family Need
- Guide you in ways to legally lower your Expected Family Contribution to obtain as much need based financial aid as possible
- Explain how to get the best rate on student loans
- Know where to look for unbiased private student loan comparisons
- Understanding the benefits and detriments of both private colleges and state universities and getting the best deal on both
- Navigating the ins and outs of the FAFSA forms to maximize available financial aid
- Point out private scholarship resources so you can find and apply for private scholarships in a timely manner
- Explaining “College Cash Flow” and how it works for your family
I just happen to know of a college planning expert that would love to help you out (hint-hint)!
Learn More About Financial Aid to Avoid This Pitfall
Would you like to learn more about How To Get Maximum Money for your Child’s College Education? Sign up for my FREE College Financial Planning Workshop & Webinar: Register for the FREE workshop & webinar here!