How to Control Your College Costs: The Path to College Affordability

Colleges are not the only entities that sell the same product to different people for different prices. Airlines, hotels, and cruise lines do it all the time. Families and Independent Educational Consultants can use this book as their travel agent and feel confident they uncovered the best deals.College affordability is possible when families learn to take control of the process. Knowledge is power. By learning how the formulas work, parents can use tools and strategies that will save them money. This book explains how families are assessed under the Federal Methodology (FAFSA) and the Institutional Methodology (CSS Profile.) The forms and formulas shed light on this opaque process. Families and College Advisors will select those colleges that fit the student's educational needs and the parents' wallet. In this book, parents compute their "Affordable Family Contribution," an amount based on the family's budget, available income, savings, and assets. Going to college is synonymous with taking out loans. Parents and students are expected to borrow, whether they're willing or not. When elite colleges break the $80,000 a year mark, families need to estimate the ROI and not borrow excessively. The book explains federal loans and how they differ from commercial loans.Families have every right to control how they expend their financial resources. Institutional interest is not the same as student interest. By examining their resources realistically rather than through wishful thinking, families can become savvy consumers. Parents and students will feel good when they know that they made a well-grounded financial investment using the tools, surveys, and spreadsheets in this book.