How To Give Your Child A 4-Year College Education Without Going Broke: by Carol M. Klamo (books for new readers txt) 📕

interest payments will be tax-deductible, and you will be reducing the value of your home for financial aid purposes. Although the federal formulas no longer ask about home equity, many private colleges still include it when determining how much money they will give you.

12. Have Your Child Enroll In Advanced Placement Classes Or Enroll In College Level Courses While They’re Still In High School.

Every college level course they place out of is money you won’t have to pay when they go to college. Considering college credits can cost as much as $300 each, having your child place out of these courses can save you a lot of money.

13. Have Your Child Pick A College That Offers Cooperative Education.

There are over 900 colleges and universities that offer these kinds of programs. Your child will alternate taking classes with working in a job that is related to the career they want to pursue. It may take an extra year for them to finish college, but they will have a much better chance of landing a good job when they graduate.

14. Be Sure To Apply For Financial Aid Even If You Don’t Think You’ll Be Eligible.

Most families that make between $60,000 - $125,000 per year and own a home do qualify for some forms of financial aid. Sadly, many parents are under the misconception that they won’t qualify so they don’t even try. This is a huge mistake since you definitely won’t be offered any money if you don’t apply. Even if you don’t qualify based on financial “need”, many schools won’t even consider you for “non-need” based aid if you don’t try applying for need-based aid. So, regardless of what you’ve been told - give it a shot and apply!

15. Don’t Spend A Lot Of Your Time Looking For Private Scholarships.

Private scholarships from foundations and organizations only make up approximately 3.7% of all the funding out there. The other 96.3% comes from the Federal Government, the state you live in, and the colleges or universities your child applies to. Spend most of your time applying for the 96.3%, instead of wasting a lot of time going after the 3.7%!

Chapter 14

***Special Bonus Section***

“9 New Secrets To Beating The High Cost Of College”

I know you're the parent of a college-bound student, and you're probably wondering how in the world you are going to pay for it! You have every right to be concerned since the average cost of a 4-year college education today is between $56,000-$152,000.

If you're like most folks, you'll probably end up mortgaging your house to the hilt, or spending your entire life's savings to muster up enough money to send your child to college. Or, even worse, if you don't have a lot of home equity or money in the bank, you'll end up sending your child to the least expensive school rather than the best college they can get into.

Either way, you'll probably end up feeling guilty, frustrated, and angry when you have to tell your child the truth - "I just can't afford to send you to the college of your choice, you'll have to settle for a state university or local community college."

What if I told you that, in most cases, you don't have to make these painful decisions. . .

Here's The Good News. . .

When it comes to saving and paying for college, a NACFA (National Assoc of College Funding Advisors) Certified Advisor like myself can help make a college education an affordable reality. A NACFA Certified Advisor has the expertise to help you develop the best plan possible and make the best financial choices for you and your family.

By working with your existing financial resources we can help you learn ways to make college more affordable and have a positive impact on your quality of life and your other financial priorities such as vacations, home improvements and retirement plans.

By sharing important tips and specially designed college funding strategies, a NACFA Certified Advisor can help you reduce the cost of college and help you have the resources to pay the balance.

I guarantee you will discover how to beat the high cost of college!

I know this sounds too good to be true, but it really is possible! In fact, many families discover they can send their child to an expensive private university for less than the cost of a state college!

I guess you're wondering why I'm telling you all of this? The answer is quite simple. We have personally helped parents like you to send their children to expensive private and state universities that they never thought they could afford…

And There's A Good Chance I Can Do The Same For YOU!

So, I am offering you 1 FREE hour of my time (a value of $150) for a "College Readiness Review".

During Your FREE $150 Consultation, I Will Reveal These "9 New Secrets To Beating The High Cost Of College":

Secret #1.

Why Some Middle-Class and Upper-Middle Class Parents Pay Close To Nothing For Their Children's College Educations !

Most middle and upper-middle class parents automatically assume they won't be eligible for financial aid if they make over $60,000 per year, and they own a home.

In most cases, these parents are eligible for some forms of financial aid since the formulas also take into consideration the total number of family members, how many of these family members will be attending college at the same time, the cost of the colleges and universities being applied to, etc. Don't assume you won't be eligible. We’ve even discovered a way for higher income, higher tax bracket families earning well over $100,000 a year to pay for college ...on a tax favored basis

.

Secret #2.

Why High School "Financial Aid Nights" And High School Guidance Counselors Can Be Hazardous To Your Wealth!

Many parents unknowingly assume that all of their concerns will be answered at the high school "Financial Aid Night" or by their child's guidance counselor. Unfortunately, this rarely turns out to be the case.

Guidance counselors are too bogged down dealing with issues such as teenage pregnancy, drugs, helping students pick colleges, etc. to devote the adequate amount of time necessary to help each individual parent apply for financial aid. Not to mention with educational budget cuts, the large number of students our overworked guidance counselors have to service.

Financial Aid Nights primarily focus on how to fill out the forms. They do not explain how to legally and ethically increase your eligibility for financial aid by doing "income and asset" planning. They also do not help you pick schools based on each schools ability to give you a good financial aid package. And lastly, they will not show you how to negotiate to get the best possible financial aid package from each school.

All in all, go to your Financial Aid Night, but DON'T

expect it to solve all your problems.

Secret #3.

How To Send Your Child To An Expensive Private University For Less Than A State School! (This one really amazes my clients!)

Believe it or not, some private schools end up being cheaper than a state school or a local community college.

How can this be you ask?

Let me explain. . .

No matter what school your child applies to, you will have to pay your "Family Contribution", which is the minimum amount of money the government will expect your family to pay at any school.

So let's say your child applies to two schools - one private university and one state college. The private school costs $30,000 per year and the state school costs $13,000 per year.

Let's assume your family contribution is calculated to be $5,000 - which is the minimum the government expects you to pay towards either school.

But here's what happens. Because the private university is well-endowed and has a lot of money to give out, they end up offering you financial aid that will cover all expenses above $5,000 - so all you pay out of pocket to send your child to a $30,000 a year school is $5,000.

Unfortunately, the state school does NOT

have a lot of money to give out, and all they offer you is $2,000 in aid - so you end up paying $5,000 plus the $6,000 they left you short by for a total of $11,000.

It actually ends up cheaper to send your child to a private school.

Secret #4.

How To Lower Your "Out-of-Pocket" Costs, And Get The Maximum Amount Of Money From Each School ! (Just like a good C.P.A. can minimize your tax liability, I can show you how to set up your financial situation in the most favorable terms legally allowable!)

Certain assets are counted much more heavily in the financial aid formulas than others. Where you keep your money could mean the difference between getting $10,000 in financial aid or getting nothing. If you don't know how to legally and ethically position your money properly for purposes of financial aid, you could end up losing thousands in financial aid.

Secret #5.

How To Pick Colleges That Will Give You The Best Financial Aid Packages - More FREE Money, Less Loans! (Why waste your time applying to schools that will never give you the money you need?)

Some schools are well-endowed and have the ability to award a lot of money to students. Other schools have very little money to give away.

It's important for you to know this information before you ever apply to a school.

By knowing, in advance, which schools give the best financial aid packages, you can have your child pick schools that they have the best shot of getting money from.

This way, you don't waste time and money applying to and visiting schools you will never be able to afford.

Secret #6.

How To Fill Out The Complicated Financial Aid Forms Accurately and On-Time! (Failure to do so could cost you thousand of dollars in financial aid!)

Since financial aid is awarded on a first come, first served basis, it is imperative that you get your forms in accurately and on time, or you will miss out on thousands of dollars in financial aid that you would have been eligible for.

Simple mistakes like omitting a social security number, over reporting assets & income, and not registering a male student for the selective service can actually "bump" a form.

If this happens, you will have to reprocess your financial aid forms which could take another 2-3 weeks.

Secret #7.

How To Locate and Apply For Every "Need-Based" Scholarship, Grant, and Low-Interest Loan That Your Child May Be Eligible For!

Leave no stone unturned when searching for money for college. Be sure to apply for all "need-based" sources of funding through the Federal government, the state you live in, and the colleges and universities your child is applying to. Most of these financial aid programs can be applied for by simply filling out the Federal form (the FAFSA) and, in some cases, the Institutional Form (the CSS Financial Aid Profile).

Secret #8.

How To Pay For Your Child’s Education On A Tax Favored Basis! (I've used this technique to help