In my practice, I work with many families of all different tax brackets, including some who have considerably lower incomes. There are many reasons for these clients, many of whom are highly educated individuals, to have both lower incomes and typically less in assets. Sometimes it’s due to job loss. Sometimes it’s due to divorce. Sometimes, it’s due to a medical illness within the family… There is a whole host of possibilities…
So, when these families complete FAFSA and it spits out an extremely low EFC, even $0, it is still highly unlikely that this is what it will cost the student to attend college… Why is that you wonder?
I had an awful experience this weekend (and as of this writing, it’s only Saturday, lol!) On New Year’s Eve at 4:30 in the afternoon, I found a flood in my basement. After I had some help locating my water main to turn off the water in the house so that the oil burner would stop pouring water out all over the floor, I needed to try and find a repair guy. The emergency technician comes and says the heating system is very old, cracked and I need a new one. So now I’m now left in my house with no heat and no hot water.
On New Year’s Day, I try (and succeed!) in getting a couple of estimates. I have decided to move forward with the company that provided the second estimate. They’ll be here on Monday, thank goodness!
So, you’re wondering why I am even writing this...and how it all relates to college and paying for college…
College Financial Prep provides families with cost saving strategies, scholarship research and financial aid preparation. Contact College Financial Prep today at 516-225-5224!