Posts Tagged Financial Aid
Big College Scholarship Bucks are Won in Summer
Posted by admin in College Scholarships on August 31, 2010
Driving to the beach. Visiting the park for an enjoyable picnic. Seeing a baseball game. Calling on the local fishing hole. These are great summertime activities. Other pursuits include painting, cutting the grass and washing
and waxing the car. We look forward to all of them with great anticipation. When the weather gets warm (no doubt about it), thoughts and actions turn to outdoor events.
One activity that gets forgotten by many college-bound students and their families is the inside expedition of hunting for college scholarships, searching for huge scholarship dollars, initiating the quest for money that will significantly reduce or eliminate college debt. This happens for four reasons. First, it is easy to forget because summer is now and scholarships are in the future, the distant future. Second, my child is not smart enough to win a scholarship. So, why bother thinking about it now or ever. A third possibility: our student has no desire to go
to college. Fourth, our family income is too high.
These are all relevant ideas. But, they are all bogus. Here’s why. Summer is the best time to begin scholarship activities because there is no rush to get the job done. One can take time to do everything leisurely and thoroughly. Rushing
creates anxiety and anxiety creates mistakes. The old maxim slow and sure wins the race also applies to going after scholarships.
Some students are slow in developing. The first two years produce mediocre outcomes, while the junior and senior years produce above average results. And, know this, scholarship committees often regard the last two years as more important
than the first two!
Got a seventeen year old that has no intention of getting a post-high school education? Attention, attention, attention: a high percentage of these change their minds. Have you made up your mind to use this summer in a profitable way, a way that could eliminate the need for future minimum wage summer jobs? There was a commercial on television a few years back. The slogan went like this: “You can pay me now, or you can pay me later. The choice is up to you.” By starting right now, this summer, you can cut your college educational bill by $10,000, $20,000 or even $50,000. Use your computer to investigate and sign up for college scholarship information.
Everything in life is a decision, make the right ones today for your college scholarship success.
Financial Aid For College – How To Get Financial Aid For Your Kids
Posted by admin in Financial Aid for College on August 17, 2010
Are your kids headed for college? Are you worried about how to pay for it? Read on for three key things you can do right now to help improve your chances of getting financial aid for college.
You should plan on paying as little as possible out of your own pocket for your children’s education. In fact, your kids should get financial aid or scholarships for college.
But you’re convinced that you make too much. Well, that’s what “they” want you to believe. As it turns out, there are a quite few things you can do to help your kids get financial aid for college after all.
Read on for three things you should start doing right now. They could save you thousands of dollars and mean the difference between a depleted retirement account and a nice big nest egg:
1) Educate yourself
Get the facts, not just the misinformation that the school guidance counselors give you, or the pamphlets from the college financial aid office. It’s not that anyone is trying to pull your leg. It’s just that their resources are very limited. The guidance counselors simply don’t know the alternative solutions. After all, they’re not trained as financial advisors.
It’s up to you to take responsibility for investigating ALL your options. Find out what you need to do to get financial aid and scholarship money.
2) Take action right now
Start taking action right away. It’s crucial to start planning as early as possible. And I’m not talking about savings plans here.
Becoming eligible for financial aid for college may require some careful planning and financial maneuvering — and that can take time. One of the key things you need to do is to turn assets that are counted towards eligibility for financial aid into assets that are not. And what assets might those be? Certain types of life insurance, for example.
Your kids also need time to add certain activities to their schedule, from social service to playing chess to sports to getting involved in leadership activities. You’ll be pleased to know that any of those could pay off in big scholarship money — particularly social service.
3) Get expert help
You already discovered that counting on financial aid officers to help you will only get you in trouble. But did you know that even your regular financial advisor isn’t a sure bet? He may just give you a savings plan that will force you to scrimp and save to pay for your child’s college costs yourself. He might even steer you toward the failed 529 plan. Just say no!
Here’s what to do instead: Find a wealth management advisor who has experience with helping wealthy families get college funding. You’ll need a specialist because most regular financial advisors simply don’t know about all the secrets that are involved in moving your assets out of categories that are counted and into categories that don’t count towards financial aid.
And if you want to find out more about getting financial aid for college, click here and sign up for my next FREE webinar on outside-of-the-box college funding strategies.