College funding is no game! You can lose thousands of dollars in funding by one little mistake! Plus, ti's important to remember that for every $10,000 of financial aid you receive, that's $10,000 saved! However, what most parents don't realize is that you pay for college with dollars that have already been taxed. In other words, $10,000 of aid is equivalent to approximately $17,000 in earnings! Over the college years, that amount adds up to substantial savings of your hard-earned money.
Therefore, make sure your personal advisor has a lot of experience working with the financial aid system, and is willing to help you with the financial aspects of all 14 steps listed below.
1) Start planning for college costs early - junior year of high school!
2) Gain an understanding of how the college funding system works!
3) Do a pre-determination of how what your EFC (Expected Family Contribution) will be!
4) Isolate and address any unnecessary financial exposures in your financial profile.
5) Implement the strategies found in Randy Shepard's Ebook and/or seminar!
6) Do an analysis of the colleges your attending and KNOW their percentage of need met!
7) Correctly fill out all necessary forms and submit them ON-TIME!
8) Estimate your current tax situation BEFORE you fill out the CSS and FAFSA forms!
9) Do a preliminary FAFSA before your taxes are completed.
10) Complete your taxes early and finish the FAFSA!
11) Compare and evaluate financial aid offers from various colleges.
12) Attempt negotiating for a better award package!
13) Make sure all forms and tax information is submitted. They lose things often!
14) Make sure your bill is correct. They mess up often!
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