The average cost of college these days is over $25,000 per year at a public in-state 4 year institution. Out of state is over $44,000 per year and private now tops out over $54,000 per year (Source: educationdata.org).
Are you prepared for this? Do you have a plan in place for paying for the cost of college for your children? Do you understand the student based financial aid system?
We help our clients specifically address the cost of college by creating a plan for them. This plan addresses all of these issues to ensure you are ready and helps you take advantage of all the specific benefits your child may qualify for based on their situation.
Our plan starts with a report that gives you a breakdown of what you need to know about paying for college for your child and their specific situation. This includes the cost of attendance and average room and board costs. A section on financial aid and what this looks like for your child's school of choice is laid out in the plan. We also include what your expected family contribution (EFC) will be based on our calculations. We provide an estimated amount of financial aid that you may be entitled to based on your situation. This report covers merit based scholarship information as well. In addition to this, we provide a section on saving for college and how this can impact the college planning process for you and your child's situation taking into account tax credits that may be available to you.
This section of the plan looks at other schools that your child may have an interest in and breaks down the differences among these schools in terms of financial aid information and merit scholarships. In addition, we will provide other schools that you and your child may not have thought about that you should consider based on potential financial aid or tuition discounts for the degree program your child wants to pursue.
This part of the plan will show you the likelihood that your child will qualify for scholarship money based on their preferred school of choice.
This summarizes the main points covered in the plan. We will discuss this with you and ensure you have a game plan to use moving forward for your college planning needs.
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