Options for Financing College

The rising costs of college tuition have outpaced inflation by a significant margin. For the average family, funding a college education will be one of the significant challenges they will face during their lifetime. Having a basic understanding of proper planning techniques, savings vehicles, financial aid as well as other funding methods will be critical in meeting this challenge without subjecting the family finances to unsustainable strain. This session will cover the most effective strategies for planning and funding the rising costs of a college education.

At the end of the workshop you will be able to:
• Estimate college expenses based on time horizon, tuition inflation and choice of school
• Define the rules and benefits associated with college savings vehicles such as 529
Plans, Coverdell accounts as well as EE Bonds
• Understand financial aid application and calculation basics (FAFSA)
• Learn to access other funding assistance through scholarships, grants and tax credits
• Recognize the pros and cons of taking on student loan debt
• Understand how to prioritize funding higher education in the context of long-term financial planning.