S3E8: How can I pay for College without going broke!

Residual Income - Wealth Strategies - Financial Freedom With Murray Miller

Planning and Paying for college can be a complex process, but there are steps you can take to make it more manageable:

• Begin planning and saving for college as early as possible
• Master the Free Application for Federal Student Aid (FAFSA) which determines your eligibility for federal and state financial aid programs, such as grants, loans, and work-study
• Research and apply for scholarships, which can provide additional funding for college
• Consider work-study programs
• Explore student loan options.

Home equity can be used through a home equity loan or a home equity line of credit (HELOC) to borrow money against the equity you have built up in your home. A Highly Specialized Cash Value Life Insurance policy can be structured to pay for college utilizing tax-favored money.

When it comes to choosing colleges that are most likely to provide you with the best financial package, there are a few things to consider:

• Use the Net Price Calculator on each college’s website or U.S. Department of Education’s College Scorecard.

Some general tips and insights on applying to and receiving the best offer from a college:

• Apply to a range of colleges, including some “safety schools” and some “reach schools”.
• Know the different types of financial aid
• Consider early action or early decision
• Be prepared to negotiate

Start Your Free Wealth Coaching: Text me at 508-905-5561 with a couple dates and times and let’s begin building a financial wall around your family.

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The post S3E8: How can I pay for College without going broke! first appeared on The Family Business.

The post S3E8: How can I pay for College without going broke! appeared first on The Family Business.