Going to college is expensive! It is not just the tuition costs, but there are also things like room and board, books, transportation expenses, and other fees. How can your family plan ahead to send or more children through school? A college financial planner can help. Here are some of the ways a college financial planner will assist your family to cover the costs of continuing education.
- Assess your family’s current financial situation – This will help you to determine your expected family contribution (EFC). That is the amount that the government and colleges expect your family to pay based on household income.
- Help you to reduce your EFC, if possible – There are often things that you can do to reduce your EFC and increase the free money for college received by your children.
- Evaluate your out-of-pocket expenses for the education of each child in your household.
- Help you to review your family expenses as well as anticipated life expenses that do not relate to college.
- Review your retirement plan to ensure that you and your spouse have enough for yourselves after sending the kids off to college.
- Create a strategy to fund education for your children without defunding your retirement.
Get the Help You Need Planning Ahead Financially for Your Family
College Planning Source is here to help! It also starts with a complimentary college planning assessment. So give us a call today at 858.676.0700, or you can request your Zoom assessment by submitting the form on our website.
