Join Steve Stanganelli and the Georgetown (MA) PTA for a college financial planning workshop “College Planning: Paying for College without Going Broke” at the Georgetown Peabody Public Library (2 Maple Street, Georgetown, MA) from 7 PM to 8 PM on Monday, December 8, 2014.
One of the more overlooked areas of financial planning in general is the subject of college planning.
Parents need to understand that there is more to college funding than a 529 Plan. Saving FOR the cost of college is not the same as saving ON the cost of college.
There are two prices for college: One for the prepared ‘buyer’ of an education and another for the unprepared. The price you will pay will depend on how well you plan.
Many parents do not have a solid working knowledge of how financial aid is calculated or how college costs are met during the college years or how to balance paying for college while saving for other goals like retirement. This workshop will discuss the college financial aid and aid application process as well as strategies on how to pay for college costs for parents with college-bound children. Strategies to consider and pitfalls to avoid will be included in the discussion.
Brief Bullet Points of Presentation:
• Overview of College Cost Issues
• Understanding College Planning Options for the Three Categories of Families
• What You Need to Know About Financial Aid, Eligibility and Federal versus Institutional Methods
• Financial Aid Myths – Dangers to Your Financial Health
• Expected Family Contribution: Your Key to Aid & How to Improve Your Chances
• Tips for Reducing High College Costs Regardless of Income
• How Divorce Affects Aid Eligibility and College Planning
• Strategies Beyond Financial Aid: Dealing with High Income Families or Late-Starters
• Effective Strategies to Maximize Aid and Create ‘Tax Scholarships’
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