Why do parents have so much difficulty with the financial aid system? It's simple. The formula targets the way they think. The way they save. The tax system they live with. The assumptions they make. The value they put on various assets. And you are as vulnerable as every other parent in the country.
Naturally, you opened a college savings account in your child's name.
You consider your retirement account the same as an investment.
You will use many of the same incorrect assumptions as other parents.
And, without any preparation (except fingers crossed), you hope that you will be given all the aid that you need.
Oh, there are other problems you’ll face, such as:
Do you believe financial people and guidance counselors know the financial aid formulas? They don’t.
Need to guess which information is mandatory or voluntary, which assets are discretionary or non-discretionary?
Will you overvalue or undervalue your house? Both can create difficulties.
Lose tens of thousands of dollars every year simply by not taking the financial aid system seriously?
Unfortunately, the financial aid system has a multitude of trip-wires. But there are also many helpful strategies for anticipating and circumventing those dangers. In other words, your approach to this counterintuitive system, which is a very hard task to do on your own, should be accompanied by this invaluable e-book, Maximize Your College Financial Aid.
In this easy-to-read e-book, Tom Brooks describes many of the strategies you can use today to get every dollar of financial aid your family needs. Learn how to make the college formulas reflect what you can actually afford to pay, and avoid the many costly mistakes parents often make. Over the past 30 years, tens of thousands of families have attended Tom's lectures across the country and have benefited tremendously from his guidance. Last year alone, attendees saved, on average, well over $100,000 per family. These same strategies are now available to you in this immediately downloadable e-book.
Many people think college financial aid is all loans. That may be because they didn’t know how to maximize their eligibility for it. In fact, financial aid includes scholarships, and you don’t pay that back. It includes grants, which are also “non-paybackable.” And work-study: That’s ten hours a week for tax-free spending money. Yes, there’s the loan, but if it’s subsidized, the interest does not begin accruing until six months after graduation from college or graduate school.
Perhaps you planned to tap the equity in your house again, if you can manage another mortgage. Or try to bring home more income by not contributing to your company’s retirement plan, missing the company match. Or you were going to start searching on-line for scarce scholarships, like millions of other parents and students.
Well, despite your income and despite your modest savings and home equity, have you ever considered that you could still be eligible for financial aid? In fact, most parents who experience these same worries are usually qualified for college aid, and plenty of it. They just don't know how to get it. But there are many ways. With this e-book, Maximize Your College Financial Aid, in one evening you will
Most importantly, with Maximize Your College Financial Aid you will learn how you can send not one, but all of your children, to the best colleges in the country. Now, wouldn’t that be great!
In the Appendix, you will receive these quick reference guides:
Tom explains how the financial aid formula evaluates parents’ assets and income, then student assets and income, the four major variables which have the greatest impact on your family's college costs. But there is much more to it than that. The formula is full of traps and often requires insights that are counterintuitive in order to answer the questions. Using common sense or logic or advice from friends will get you nowhere. But knowing the pitfalls where mistakes are always made gives you the opportunity to get the college formulas to reflect what you can actually afford to pay.
know them. And the e-book will be beside you when you are filling out the FAFSA and the CSS Profile as well.
Financial Aid Questions to Ask at Every School.
A Chart Comparing the Federal Methodology and the Institutional Methodology Formulas.
A Chart to Record School Application Requirements.
A College Costs and Financial Aid Awards Chart.
And, a Resource of Contacts for answering other questions about the college financial aid system.
Please check back - coming soon!
Many families do not apply for aid because they think they earn too much. The financial aid formula is not a static
calculation. Its goal is to convert all of your income and assets and that of your children into an available amount that can be used to pay for their education.
You may be surprised by what the formula considers "available" to pay a college bill--and equally surprised by what it does not count.
Over a family's education window, the cost can reach hundreds of thousands of dollars. The best time for parents to control that cost is now, while the student is still in high school, not after applying or entering college. Tom and his associates developed and have provided many strategies to successfully guide families through the college financial aid system. And with this e-book, you can learn many of these strategies in one evening. People use a GPS to navigate their cars. With Maximize Your College Financial Aid, you will have a GPS for financial aid.
This easy-to-read e-book will:
Prevent you from exposing more than you can afford to pay.
Save you tens of thousands in college costs for each child.
Help you clearly understand the college's position if you ever need to negotiate for more aid.
Enable you to educate all of your children in the best schools in the country--and afford it.
Give your kids the start in life you had hoped for. They did their part, now you can do yours.