The College Planning Institute

Every parent wants their child to get the best education possible, to build a solid foundation for the future. However, decisions about where to send your child to school, be that a public or private institution, are rarely simple and often involve more considerations than just money. Private schools are an investment that not every family may have the liquid cash to afford. Here are some things to. take into consideration:
- Consider the Costs
- More Individualized Curriculum/Smaller Classes
- Know Your Child

Need help? Contact us today!

Dozens of colleges around the country weigh your home equity when figuring out, behind closed doors, what you’ll have to pay for your son or daughter to attend. Homes are many families’ largest asset and the college financial aid formulas essentially expect parents to tap some of that growing asset to pay for tuition. Even if you’re an older parent planning to use your home equity as part of your retirement strategy or a relatively middle-class family who lives in an area with a high cost of living, the results will be the same: having a lot of equity in your home will increase what many colleges expect your family to pay.

So what can you do? Contact one of our advisors today!

The moment your child is ready to go off to college is a big, exciting and also nerve-wracking time in a family’s life. While most families want their children to go to college, parents and kids may come to conflict over different aspects of the process. Here are some if the things you might need to agree on:

- Clarify Budget and Expectations Upfront
- Have Your Child Do a Self-Assessment
- Get Accurate Info

Still needs help? Contact us today!

While the Free Application for Federal Student Aid, might be a complicated form to fill out, it’s something all high school students need to do if they want a chance to qualify for federal Pell grants, state grants and most scholarships. Yes, it can be daunting filling out application forms such as the FAFSA. But for many students, it makes a big difference in the options that are available to them as they plot out their futures.

Need some help? Contact us today!

A recent Money article gave advice for families that are stuck in the middle, earning too much money to qualify for need-based aid but not enough to pay out-of-pocket. These families are encouraged to file a FAFSA even if they feel they will be denied need-based aid. The FAFSA is the only way to access low-cost federal student loans. In addition, to apply for many state and private scholarships that are not need-based, a FAFSA must be filed. A completed FAFSA is also helpful if a family’s situation changes in the midst of an academic year due to job loss, medical expenses, or other sudden hardship.

Need help with the FAFSA? Get in touch with us today!

Only about 35% of Americans have heard of 529 plans, according to the College Savings Plans Network. Of those, a mere one in four connect the plans with higher education savings. There are many, many more perks to the college savings programs than simple tax benefits. Here are just a few:

1. You can make qualified withdrawals from a 529 plan for registered apprenticeship programs.

2. Over 400 schools outside the United States and its territories are considered qualified higher education institutions, meaning you can make tax-free withdrawals from a 529 plan for qualifying expenses at those colleges.

3. Normally a non-qualified withdrawal from a 529 plan is subject to tax on earning plus a 10% penalty tax. However, if your beneficiary meets certain criteria it is possible to avoid that 10% penalty, changing the plan from tax-free to tax-deferred.

Want to learn more about planning with a 529? Contact us today!