THE IMPORTANCE OF CREATING A COLLEGE FUNDING STRATEGY
You’re probably already aware of how difficult it is to pay for college, but what you may not be aware of is that there is a lot you can do about it. You can’t make college tuition go away entirely, of course, but you can get college funding help from professionals who know how to save money on college tuition. It’s hard to understand the benefits of working with a college funding advisor until you sit down with one, but as soon as you do, those advantages become apparent immediately.
Are you asking, “Can I afford to send my child to college?” Wealth Management Group Advisors can make sure you do, by providing you with a college funding professional who can help you with collegiate funding solutions that range from locating little-known grants to finding merit aid to straightening out the family budget.
You can learn about proper ways to approach funding options, which colleges you can and cannot realistically afford, and how to make decisions based on firm financial understanding. A college funding professional can help give you some structure in your quest to afford college, which means greater confidence and an easier journey for the entire family. For more about the kind of college help we offer, read on.
TODAY’S COLLEGE CLIMATE: PREPARING FOR THE COSTS OF COLLEGE
In today’s college climate, you must have a real, clear strategy in place for funding college. The cost of tuition, fees, room, and board rise dramatically year after year. Tuition costs are rising every year, even greater than the rate of inflation. You need a financial professional who understands the specific financial challenges and can help you meet them. Our experts can help you understand and plan for statistics like these:
- The costs of college have increased dramatically over the last 40 years. The cost of room and board at a private university has doubled, when adjusted for inflation, while the cost of tuition and fees has tripled.
- It’s possible for families to pay less for college than they did just a few years ago. This reflects better financial strategies and a willingness to cut costs and avoid unnecessary spending.
What this means for you is that even if the cost of college seems insurmountable, there is almost always an answer for your situation. Thinking ahead and working with a professional can help you overcome many obstacles when it comes to the financial burden of college.
Here is a breakdown of the useful services Wealth Management Group Advisors can offer you and your family to help you navigate the sometimes-tricky waters of college financing.
DETERMINING A COLLEGE FUNDING STRATEGY
We begin by developing an appropriate college funding strategy to meet your goals. The components of this strategy include: Calculating your Expected Family Contribution (EFC).
Once we know your EFC we will:
- Provide recommendations to possibly reduce your EFC
- Provide recommendations for appropriate ways to pay your share of college costs
- Provide cost-efficient borrowing strategies to help keep financial goals in line, along with cash flow strategies for college years and beyond
- Provide complete financial overview of college, cash flow, and retirement; develop an approach to improve each area
- Provide strategies that protect your savings and retirement accounts from the financial aid formulas
The earlier you start learning about creating a college funding strategy, the easier time you will have paying for your child’s college education without incurring years upon years of back-breaking debt. Start by completing our free Custom College Funding Analysis by clicking on link at top of the page.
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