College Financial Planning Strategies Can Help!

• Receive an overview of the financial application process
• Increase financial aid eligibility
• Obtain a financial profile review from a certified college financial advisor
• Create savings that reduce actual college expense

 

Save On College Expense

Funding education is no small task. It may represent the largest liability outside of a home that you will incur in your lifetime. Currently the estimated average annual college tuition expense is $15,000 for public school, $30,000 for private school, and $45,000 for elite private schools. These fees are after tax dollars. Assuming a 35% tax rate, you will need to earn $100,000 for four years of public school, $200,000 for private school and $300,000 for elite private schools—PER CHILD.

Financial planning, specifically for education, can lead to huge savings on college expenses. Unfortunately, too many families are given incorrect or incomplete information or don’t take the time to find out what measures are available. There are various ways to maximize the reduction of out of pocket expenses for college.

College Connections’ financial division will work with you to unlock secrets and maximize the benefits gained using the following tactics:

• Cash Flow Planning: Maximize cash flow in early grades in order to invest in educational savings plans, while not interfering with retirement planning
• Investment Planning: Help in investing these funds in the appropriate vehicle
• Tax Planning: Utilize educational tax incentives, of which there are many, create your own tax scholarship and reduce college cost.
• Financial Aid Planning: Strategies to increase eligibility for maximum financial aid offered by colleges
  
  • By reducing your Expected Family Contribution (EFC) in order to qualify for need-based aid
  • By working with College Connections admissions consultants to maximize merit based aid
• Appeals: Advise on appealing decisions of College Financial Aid Officers
  
• Loan and Scholarships: Help with locating the best private lenders and private scholarships

Financial Planning Method

• A step by step blueprint on how to save for and reduce the cost of college
  
• Calculate and learn how to reduce your Expected Family Contribution (EFC)
  
• Analyze financial data as it relates to your current college funding circumstances; including current investments and money management, financial and retirement planning, income tax planning, fringe benefits, life insurance coverage and estate disposition

Written Plan

• Based on our review, we will prepare a written analysis of your current college funding situation
  
• Provide recommendations of academic and financial strategies and create savings
  
• Help maintain retirement goals

Ongoing Monitoring and Periodic Review

• Assist in executing the strategies that have been agreed upon
• Receive links to the most informative private loan and outside scholarship sites
  
• Maintain records of your college funding plan to monitor the progress toward achieving your goals
• Provide reminders to keep you on track and find out if any changes have occurred in your financial condition that would cause a change in the plan