Sending children to college is something parents both want and dread at the same time. Sure, your kids have a better chance of finding a career in the future, but the cost for higher education is something that can make you think about crippling debt. A typical college education is worth thousands and thousands of dollars and that is only for one child. Multiply that by the number of your children and you’ll find yourself in a pretty pickle. Thankfully, trusted advisors such as John McDonough of The Studemont Group have some college funding services can help your kids go to their dream schools without breaking the bank.
This doesn’t mean you have to live on canned food, but you should learn to manage money for college efficiently. Bankrate.com suggests buying old books, for instance; you may also check the Internet for free online copies. If you’ll be living outside of school, opt for the nearest area to reduce your transportation expenses. Tightening one’s belt is alright if it means having a more stable future ahead.
Scholarships and grants are help that you won’t need to repay. While they may have really high standards and you aren’t confident to be granted, apply anyway; you only have zero chance of getting financial assistance if you don’t apply in the first place.
This list of tips is not exhaustive. There are many more options that good college funding specialists—like John McDonough of The Studemont Group College Funding Solutions, LLC—can give you. Be sure to listen closely and keep your eyes open for opportunities.
To further aid you with such financial matters, you can employ the services of specialists such as John McDonough of The Studemont Group College Funding Solutions, LLC. These organizations are here to help you find the best solutions for college funding based on your unique financial situation. Such companies also offer cost-efficient plans for their clients such as suggestions to apply for college scholarships at the desired schools, as well as proper handling of one’s finances to ensure maximum usage and minimal loss.
When it comes to acquiring quality education, you should exhaust any and all resources to get the best deals available out there. Let the experts give you and your student the extra boost you need to get the college slot your child deserves.
The situation does present issues for both schools and the parents who want to enroll their children there. Consider that in some cases, students also take out loans from the school to finance their education–despite the overall national debt cracking the trillion-dollar barrier. When you need support to crunch the numbers for your children’s college tuition while they’re still in high school, expert college funding services like The Studemont Group College Funding Solutions, LLC are ready to help you.
Academic qualifications are often among the most important items school admissions officials look for in a potential enrollee. In the report, Weston said that some schools consider applicants with GPAs or test scores that are in the high quartiles.
A mismatched major and personality can have dire effects on students’ finances. College funding advisors found through statistics that the cost of dropping out, shifting majors, and not graduating on time is substantially high. Those aiming for a bachelor’s degree lose an average of $46,000 for each additional year it takes to finish their degree.
Part of the blame can be attributed to schools and the government. Invalid career tests are used, and students are given incorrect information about their personality using generalized test measures. Some schools even intentionally misdirect students to increase enrollment in a particular program.
Unlike parental assets, the child’s assets count for more in aid calculations, typically up to 20 percent. Therefore, one of the most practical solutions for college funding hitches whereby a college-bound child has several assets to his name is to transfer them to their parents. Transferable assets include noncustodial accounts (e.g. regular savings, certificates of deposit) and Series I and EE savings bonds. Conversely, custodial accounts and trust funds must remain in the child’s name.