You may remember months ago you completed the Free Application for Financial Student Aid (FAFSA). The FAFSA form, sponsored by the U.S. State Department of Education provided your family with an index called the Expected Family Contribution (EFC). This amount told colleges how much you could afford to pay for the cost of attendance, including tuition, room, board, and fees. With this information, colleges formulated a financial aid package comprised of scholarships, grants, work-study, and loans. If the college does not provide your family with a competitive package, read this article to learn tips on negotiating a better financial aid package. Also, download a free sample template letter.
Getting accepted to college will be the first of many great accomplishments in your life. After crafting the perfect application – taking SAT exams, preparing for interviews, and writing essays that best captures you — the hard work paid off. But what comes next?
High college costs are commonly a pain point families are tormented by when planning their student’s future. Start a 529 Plan. A 529 Plan is an investment account that you can use to save for higher education expenses.