Planning Briefs
Crash Course On Paying For College
Published Friday, March 29, 2013 at: 7:00 AM EDT
There’s good news in the mail: Johnnie or Susie just got accepted into a top college. Naturally, you’re proud of your child. But now comes the hard part—figuring out how to pay for four years of education at an elite school.
Tuition costs at private institutions, in particular, can seem staggering. Still, there are ways to send your son or daughter to a great college without bankrupting your financial future. Start with these five steps:
1. Compare and contrast financial aid offers. There’s no standard format for the wording of award offers, so carefully review the information in each one your child receives. Typically, the offers will list financial aid from several sources, including school scholarships, work-study programs, and federal loans, and also will note your “expected family contribution,” calculated from the information you provide on the Free Application for Federal Student Aid (FAFSA). But some schools provide more information than others, so try to compare apples to apples.
© 2024 Advisor Products Inc. All Rights Reserved.
More articles
- When Do You Need An Appraisal?
- Nine Reasons To Consolidate Debt
- Where Will You Live After You Retire?
- Which Type Of IRA Do You Prefer?
- Straight Talk About Living Trusts
- Many Women Face Special Challenges As Retirement Nears
- Dust Off Life Insurance Policies
- Pros and Cons Of Section 529 Plans
- How To Choose Trustees For Your Trust
- It's A Question Of Proper Balance
- What Is Safe For You To Put Into A Safe Deposit Box?
- Take A Closer Look At Your RMDs
- "Ghost Story" Can Haunt Your IRA
- Will Your Retirement Assets Last?
- Tough Talk On Hardship Withdrawals