College Funding Solutions: Determining How FAFSA Calculates Your EFC

It pays to know how the system works, especially when it comes to college funding solutions. So, you’ve filled out your FAFSA and maybe you’re wondering how a financial aid administrator will determine your if you are legible for financial aid based on the Expected Family Contribution. Learning how would help you better understand your options for financial aid and this is where turning to a financial advisor like John McDonough of The Studemont Group comes in.
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Get the Best Financial Aid with College Funding Services and FAFSA

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.
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College Funding Advisors: Tips to Minimize Spending Money for College

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.
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College Financial Planning Experts: Test Scores Make It or Break It

Many disputes have arisen as to whether these standardized tests do accurately measure a student’s true capability, though. Some schools, such as the University of Arizona, have addressed this issue by making the standardized test optional. However, students eligible for merit-based aid must still submit their SAT scores in order to get into school. While ways to deal with the supposed accuracy of standardized test results are still being discussed, seniors gearing up for college in the near future would have no choice but to study well for the exam. Those who lag behind may not be able to get a scholarship and are less likely to be admitted to the school of their dreams. Regardless of how they perceive SAT/ACT, they must invest on review classes since their financial planning for college would never really land on stable ground unless they score well enough.
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Consulting College Funding Advisors and More Tips for College Planning

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.
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College Financial Advisors: A College Education is Never Out of Reach

In addition to the towering tuition fees looming over incoming students, the threat of massive debt after graduation is also a serious concern for families who want to send their children to college. $200,000 worth of debt or more in exchange for a diploma is now uncomfortably common among fresh graduates, and this is a very probable future for those who are planning to get tertiary education. Getting a free ride to college is next to impossible for many, even those who have superb scholastic records. However, there are other avenues to lighten the financial burden of college tuition and other fees. Companies such as The Studemont Group College Funding Solutions, LLC offer ways in which parents can maximize the various types of financial aid available to them and lower their out-of-pocket expenses with guidance from a college financial advisor.
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Free Money for College Education: Preparing for Potential Increases

While the 2015-2016 academic year is still some time away, parents of high school seniors have to get ready for tuition fee increases to help their children have some free money for college. Susannah Snider of U.S. News and World Report’s Paying for College section stated that many of the top-tier schools are already preparing proposals for increases. This development may be of grave concern to parents who’ve been saving for a long time to finance their children’s college education. In an age of correspondence courses and online diplomas, people want to accumulate as much money as they can to finance educational ventures. An important part of making this happen is structured guidance by professionals working with companies like The Studemont Group College Funding Solutions, LLC.
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College Financial Planning Considerations and Effects of Home Equity

Most state and private institutions do not consider your primary home’s equity as a factor in financial aid determinations because these are based on FAFSA calculations of your expected family contribution. However, some private colleges, especially the expensive Ivy League types, use an additional aid disclosure form, CSS/Financial Aid Profile. Such schools are quite interested in your home equity, so expect that it will be included in the numbers should you choose this school for your child. Comprehensive college financial planning should include research on different schools’ financial aid policies and how they treat home equity to help in evaluating which can offer your child the best options. Normally, schools that base their computations on profiles would assess equity at 5% for financial purposes. Assuming home equity of, say, $500,000 dollars is included, then that means $25,000 more for the Expected Family Contribution and less for the financial award.
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