I meet with the parents of future college students all the time and most of them share similar anxieties. As one of my clients confessed, “I feared I had saved too little, too late, and college was unaffordable.”
It’s a common concern. And it’s an understandable one, too. Afterall, being able to afford a child’s education may mean the difference between sending your child off to college or not. But there are lots of mistakes that parents can avoid that will help increase their ability to pay for college. For example, did you know that 90 percent of the forms submitted to apply for financial aid have errors or inconsistencies? Did you realize that many parents don’t understand which colleges provide the best financial aid packages? And sadly, many parents put themselves at a disadvantage because they don’t recognize the difference between includable and non-includable assets when submitting their FAFSA or CSS Profile.
When you need medical attention, you visit a doctor. When you need legal advice, you hire an attorney. So when you need help navigating the mystifying world of college financing and application process, find a professional with the expertise to help.
That same client later said to me, “As safeguards, every family should have a doctor, dentist, lawyer and someone like you.”
Photo by quinn.anya via Flickr.