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What would you do if your children received a $7,000 to $15,000 per year college tuition discount?
PS: You would not be pulling your hair out in frustration like Lois.
how to pay for college without going broke
The fact is college costs are rising at an alarming rate. Many people are trying to figure out how they will send their children to college and not go broke or use their entire life savings to pay the bill. Our government is talking about how to help the situation but in they system, income is the main driver! Many of use in the forgotten middle class and making over $100,000 per year are being squeezed with no end in sight. If your making over $250,000, in this environment you are considered a millionaire. Not only will you be paying the whole college bill you will also be paying more in taxes.
college savings plan, college 529 savings plan
So what can you do about it? Great question. The good news is you don’t have to pay the entire bill but you must start planning NOW! I know this is easier than it sounds. Between work, kids sports, dinner, spending quality time with you spuce and family who has the time to acutally splan for college.
That’s why I created this site for you to use as a recourse. Explore around and see all the resourses that you can use to help your family get that $7,000 to $15,000 per year college tuition discount.
So what would should be a part of your planning? Let me talk about that for a minute. In my opinion your plan should include 4 parts.
Here are those parts:
- Tax planning. There are tax credits available from the US government
- The traditional financial aid system. There is a formula that the government created. Like any formula (if you remember algebra), the output can be influenced by the input. In other words, if you understand the formula there are legal and ethical ways to lower your EFC.
- Innovative funding strategies. How do you pay for the remainder? Do you use loans, home equity, or cash.
- Admission counseling: preparing our children for the university application process. College tuition discount from the university. College is a business, we should target universities that would want your children.
I hope you find everything you need. Please feel free to surf around the site, make a few comments. Most of all realize we can get all your children comfortably though college and you still will have enough to comfortably retire and still have a life style you wish.
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{ 4 comments… read them below or add one }
I feel like they have raised the prices way more than 35%
Thanks for the great tips!
Another good one is to graduate early. I saved at least $20,000 by graduating in 3 years instead of four. I know this can be extremely difficult, but it is worth looking into.
Getting a college education nowadays if getting harder and harder especially for the middle class.
Planning a course of action is never too early and getting a good education if very important.
Ah, good post. I planned to post something similar but now I don’t think I’ll need to. Would you mind if I link to it from my livejournal? My visitors might like to read it too. Have a good day, Victoria
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