I can’t stress it often enough! It happened again just a couple of days ago…
Prospective clients called me. Their child will be attending a prestigious college in the North East this coming Fall for Freshman year. The parents wanted to know how they can reduce their bill now so that they can pay it before the August 10 due date.
Aside from some major financial change in the household, there is no way for me to help them immediately reduce their bill. We can do a scholarship search, but that is not immediate or guaranteed.
Anyway, the point that I want to make is that parents need to be aware that the best way to save money on the cost of college happens even before completing the financial aid applications. It happens before you submit any college applications at all! Seriously, it all comes down to which schools your child applies to and this will dictate how much college will cost.
Will those colleges and universities on your child’s “College List” be financially friendly for your household (and if you’re separated or divorced, will it be something that both co-parents are willing to share the cost of… see the link to the article below on College and Divorce”)
Six Ways To Minimize College Costs And Maximize Savings For Separated And Divorced Parents
It’s important for families to understand which schools will likely offer their household need based aid or merit scholarships so that they know where to apply. It’s also important to understand how student loans work, if the family will likely need to incorporate loans into the picture.
When a family is well informed, it’s then possible to make the best decisions as the choice of which college to attend will likely affect your child’s and your own financial futures.
Here are some important tips from College Financial Prep:
Vicki Vollweiler, MBA, CDC, founder of College Financial Prep, helps parents navigate college planning and college affordability, each step of the way, so that parents and students are making informed decisions with no stone left unturned in terms of opportunities for cost savings. Vicki is a divorced mom of two who understands the additional set of complexities when planning for college while simultaneously dealing with separation or divorce. Vicki is a member of Females & Finance, The National Association of Divorce Professionals, Moxxie Network and the NYSFAA. You may visit https://www.collegefinancialprep.com/ to learn more and schedule a free, introductory call.
College Financial Prep provides families with cost saving strategies, scholarship research and financial aid preparation. Contact College Financial Prep today at 516-225-5224!