PARENTS

How to pay for college

You’ve dreamed of the day your child would go off to college. What you might not have dreamed of was the cost, given steady increases in tuition over the past several decades. There are two ways to make college affordable.

The Easy Way:
The easy way is to start saving the day your child is born and is best done with a 529 plan that is a tax-advantaged investment vehicle designed to encourage saving for the future higher education expenses of a designated beneficiary. While this is the best case situation, many parents are often concerned how having a 529 plan will impact their chances of getting financial aid. We have experts who will work with families on how to optimize the allocation of resources.

The Common Way:
The far more common situation is there is not enough savings to cover the full load of a college education. Regardless of where your child would like to go to college or where you as the parent would like your child to go to college, there is one fact that remains the same — how much you as a parent are able to contribute and required to pay according to EFC(expected family contribution). Our financial experts will help you investigate your options for scholarships, grants, student loans, work-study programs and financial aid. Once you receive your acceptance letter there will then be a letter stating what sort of aid your child will receive. At this juncture we would sit down and look at the opportunities then pick a school that not only is the right fit for your child but is one that you can afford.

Our intent is to be build a trust based relationship with the parent and represent the economic facts to your student in the manner that is appropriate for how finances are discussed and disclosed in your family.