As the calendar nears another school season, parents invariably ask what are the best ways to pay for college without huge debt. In the college funding portion of my financial planning practice, I use all sorts of strategies to reduce potential college education costs. For every family these options will differ. Part of it depends on what age your student is when you start planning, your family ... Read More
College Planning
Young Parents Preparing for College Expenses: Part 2
Question for the Boston Money Coach: What should I be doing now to prepare for my children's college expenses? This is the second part of an answer to this question posed by parents of two young children worried about the rising costs of higher education and student loan debts. Confused about where to start, they need help from Boston's Money Coach. Response from Boston Money Coach - Steve ... Read More
FAFSA Time: Tips for Increasing Your Financial Aid
For many parents of college-bound juniors and seniors as well as graduate school candidates, it will soon be time to file financial aid forms. Last month I covered several strategies to lower your expected family contribution (EFC) which can be found here. For help with scholarships or other free money, you can find information at the College Board under "Fund Finder" or try some of the free ... Read More
Young Parents Preparing for College Expenses: Part 1
Question for the Boston Money Coach: What should I be doing now to prepare for my children's college expenses? I have two young children and am worried about the rising costs of higher education and student loan debts. I've read about college-savings plans but don't know where to start. Response from Boston Money Coach - Steve Stanganelli: You should talk with a financial planner who can ... Read More
Ask the Money Coach: Paying for Children’s College
What should I be doing now to prepare for my children's college expenses? Question:) I have two young children and am worried about the rising costs of higher education and student loan debts. I've read about college-savings plans but don't know where to start. Money Coach's Answer: You should talk with a financial planner who can outline your options. There is more to paying for ... Read More
College Financial Aid Insider
Too many parents find out after the fact that they could have qualified for financial aid but didn't. Why? They didn't know how to properly value their home and rental properties or investment assets. When it comes to determining eligibility for financial aid, income counts for quite a bit, but your assets are a big part of the formula, too. Now is not the time to allow your ego for a big net ... Read More
Financial Aid Myths Versus Reality
College Financial Aid Myths versus Reality Some may say that it doesn't matter. They say that they make too much money or have too many assets to qualify for aid. It’s a myth that families earning more than $50,000 will not get aid. Even families earning well into the six-figures may qualify for financial aid. Other myths I come across in my college financial planning practice ... Read More
Diplomas at a Discount
Lower the Cost of College without Breaking the Bank or Your Retirement Nest Egg School season begins once again. It’s hard to imagine but here we are at the end of another summer. Yellow buses roll. Marching bands practice. And it’s time for some high school football. While it’s hard enough to stay focused on all the classwork, homework and after-school activities at hand, there’s ... Read More
Winning Strategies for College Funding: Strategy 2 in a Series
Hang Out with the Locals While parents may be nostalgic about their days on campus and movies glamorize the experience, let's look at the reality for the moment. One reason college is so expensive is because it is an emotional purchase. So colleges can and do charge whatever the market will bear in our free market system. But let's take a cold, hard look at the numbers. With the average ... Read More
College Planning: Cost-Cutting Strategies for Every Family
Regardless of your income or the results of your Student Aid Report, every family can benefit from strategies that will help cut the cost of going to college. And the best part is that you can do many of these without buying an insurance or investment product. One thing to consider is that the average student completes a Bachelor's degree in more than four years. It is closer to five years. ... Read More
