Although paying for a college education remains a financial challenge for many families, it can also yield the greatest rewards. While the earnings power of a college-educated person is generally greater than that of someone without a degree, spending four years at a private, four-year college can create a bill resembling a mortgage.
The federal government’s Free Application for Federal Student Aid (FAFSA) is the nationwide report card for noting your family finances and the blue print for helping to determine your Expected Family Contribution (EFC) – the amount colleges expect you to provide for your child’s higher education. While many colleges use their own formula for awarding financial aid, nearly all expect you to file via FAFSA.
Choosing an advisor who’s already done their homework can help you find the right college-funding formula. For the full article and to learn how you can move to the head of the college-funding class click here