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S3E8: How can I pay for College without going broke!
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Planning and Paying for college can be a complex process, but there are steps you can take to make it more manageable:
- Begin planning and saving for college as early as possible
- Master the Free Application for Federal Student Aid (FAFSA) which determines your eligibility for federal and state financial aid programs, such as grants, loans, and work-study
- Research and apply for scholarships, which can provide additional funding for college
- Consider work-study programs
- Explore student loan options.
Home equity can be used through a home equity loan or a home equity line of credit (HELOC) to borrow money against the equity you have built up in your home. A Highly Specialized Cash Value Life Insurance policy can be structured to pay for college utilizing tax-favored money.
When it comes to choosing colleges that are most likely to provide you with the best financial package, there are a few things to consider:
- Use the Net Price Calculator on each college’s website or U.S. Department of Education’s College Scorecard.
Some general tips and insights on applying to and receiving the best offer from a college:
- Apply to a range of colleges, including some “safety schools” and some “reach schools”.
- Know the different types of financial aid
- Consider early action or early decision
- Be prepared to negotiate
Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.
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The post S3E8: How can I pay for College without going broke! first appeared on The Family Business.
The post S3E8: How can I pay for College without going broke! appeared first on The Family Business.
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