In our experience only 1 in 10 families has saved enough money to get their
children through college. Only 3 in 10 have saved anything. This means 90% of families will have to borrow money
to do this!
The fact is that we can all expect to have to pay something for our children's
education regardless of our income and assets. The fact is in order to be considered for any aid, we must properly navigate
the system. Failure to do this can result in thousands of dollars of lost money. Always
remember; it is not necessarily those with the most need who get the most money, it is those who know how the system
works!
In order to have a good college funding plan however, we must know as early
on as possible what our actual out of pocket costs will be at a given school don't we? We need to
know what kinds of aid we have access to & what percentage of your need a particular school will cover. We
need to know how to save & how to borrow money; there are good ways and bad ways. We need to know if and how we
can legally reduce the amount we are expected to contribute. We need to know how to manage our cash flow & debt.
We need to know how to apply all the resources available to our benefit. We need to know the effects the decisions
we make today will have on us in later years. Once we know all of this vital information, we then have the
basics needed to put together a strategy. We can PLAN to manage the problem in the most comfortable way possible
and avoid all of the consequences of leaving everything to chance.
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