College Funding "Solutions Driven"
Parents Achieve Financial Clarity™
What does this mean? Expertise with action provides valuable solutions.
For example, there are numerous sources of information on the subject of income taxes.
Why then are there so many accountants?
A simple answer, it takes time and expertise to implement the information into actionable solutions.
One might ask is it worth the discovery process, the time spent away from other things that need to get done, and the value of their time relative to "Did I Get It Right?".
How much did I leave on the table because I said "I can do it, I don't need any help". Or you are so busy you don't get around to it and the results are not as pleasant as they might be.
Your kid's teeth are coming in crooked, do you do the work or go to a trained professional?
Parents and students should be involved in the college planning process. But a "CCPS Guide" that brings relative solutions based upon the families individual circumstances can make the college bound journey more pleasant.
When the family has an opportunity to make the wisest choices financial clarity appears with a big sigh of relief.
Find Money For College
Students Choose Dream College™
Controversy, conflict, imagination, they all come into play when speaking Financial Aid and/or what is the best way to pay for college.
There is so much out in the "internet space", fee-based scholarship matching services, financial aid seminar companies...this is your imagination fooling you into a "energy drink" for college. Bad experience can and often times do happen. Not to say that you might find a great solution for your situation.
Many People Believe There Are Two Types Of Financial Aid
- Needs Based where family income / assets are below a certain level. You can find information and determine early estimate of eligibility here: FAFSA4caster
- Merit Aid where the student positions themselves "above the crowd" in three primary areas; good grades in challenging courses, good SAT/ACT test scores, and a solid resume of achievement.
"Third Type" - Certified College Planning Specialist ("CCPS")
A CCPS who can assimilate various college strategies into a comprehensive workable plan of action. In working together, the planner and the family can determine which sources of money would be the best fit.
Strategies are also available for upper income families who many times just assume they have just "pay the freight". The real question is what is the most efficient way?
And most important, a CCPS who has not only be trained in college strategy but also trained in identifying wealth transfers can provide additional solutions for all families of any income / asset level.
Improved cash flow through the elimination of wealth transfers can be applied to help pay for college and also towards retirement accumulation.
Such an approach can enable the student to choose their dream school without being deterred because of financial circumstances.
Unlock Financial Strategies
Reduce the Financial Impact of College
Here are a few planning tips that can help you find money when devising a plan of action to reduce the out-of-pocket cost of College.
Strategies From A Trained Certified College Planning Specialist
- Academic
- Asset
- Household
- Income
- Tax Scholarships
Academic Strategy
- Increase the student's SAT/ACT test scores through test prep courses
- Take as many honors or advanced courses as possible
- Achieve good grades that can result in grants and scholarships
Asset Strategy
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Pay down personal debt with an assessable asset such as savings
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Shift income generating assets to growth assets during college years
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Inquire whether target colleges assess annuities and cash value life insurance
Household Strategy
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Establish a small business for a non-working spouse for the possibility of establishing a Tuition Reimbursement Plan once the student reaches Age 21, or if a grandparent is self-employed there is no minimum age.
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Structure a divorce agreement to give the custodial parent more assets and less income
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Do EFC calculations and determine possible asset / liability restructuring
Income Strategy
- Shift income to the child using a "tax capacity" concept, all families can qualify
- Hire the child (remember household strategy # 1) and write off a portion or all of their auto expense, child must claim income but no tax will be due if properly structured and employing parent receives tax deduction
- Gift appreciable assets to the child or grandchild
Tax Scholarships Strategy
- Examine the American Opportunity Tax credit, if family income qualifies, if not there are alternative strategies allowing the student to use the credit
- Consider re-financing your home to increase your interest deduction and possibly use the equity to pay for college rather than income producing assets since the equity in a home has a zero rate of return
- Time the repayment of student loan interest to maximize deductions when possible
Process Problems into Solutions
Consult A NICCP Certified College Planning Specialist
Paying for college with proper guidance can save you thousands more than your investment. In fact, the return on investment can be outrageous.
The earlier you start, the more you can save.
Your college strategy to pay for higher education belongs to you, take action today.
In working together, our planning actionable steps will target these three core objectives;
Students Choose Dream College™
Parents Achieve Financial Clarity™
Families Experience College Success™
After our initial conversation, I will guarantee you a "certain money savings number".
If I don't save you the amount money I guarantee, you will be refunded
100% of any money you paid for my services upon your request.
Ask about "Magic Number Guarantee".