Your Title Text

Brandywine College Planning Blog

Blog 8/12/14 by Rick Fortin:
I am recently seeing ads by firms representing college financial planning and exclusively promoting 529 plans. While I like 529 plans, especially for early stage college planning, they will not do for those that have students that are entering their junior and senior year of high school - in most cases, it's simply too late.
A comprehensive, tailored plan for "late stage" college planning is what most parents need to lessen the burden of college tuition. Did you know that comparing a college's tuition to another is an important step? How about various scholarships and grants vs. student loans? Have you looked into properly filling out a FAFSA form? Do you know what is counted as income and what is not?
If you find these issues confusing or overwhelming, give me a call - I can help you tailor a plan and show you how save on tuition expenses as well as show you college tuition comparisons. You may be very surprised to hear that a more expensive school may turn out less than what you think. Reach for the stars and make your dreams come true!


Student loan interest on subsidized Stafford loans doubled yesterday to 6.8% and that's garnering a  lot of press.  That's what the rate used to be until it was temporarily halved, extended, extended again and now back to 6.8 again unless something is done by Congress retroactively.  This is similar to what happened to the payroll tax.
However this is not the big to do it's being made out to be.  From what I've seen the "average" student's monthly payment will increase by $9.00 per month.  Nothing earth shattering here.
No, the big driver regarding student debt , both parent and student,  are the exorbitant  costs they have to pay to attend a school for four , five , six , seven or eight years!  Yes, there are some schools that are advertising their 8 year graduation rates!  And some don't even graduate at all.  A recipe for ruin.  
That is why I recommend the following in order:
Career -  What does your child want to do with the 40 years after  they graduate?  What fits their strength's and , as importantly,  what doesn't?  Focus on the 40 not the ( hopefully ) 4. 
Major -     What majors(s) will provide them with the tools necessary to successfully thrive in their chosen career?
School -   Finally, what schools offer the chosen major in a quality educational environment.  Also, what is the cost?  What about grant history,  what about graduation rates.  If you have a school with a 75% four year graduation rate versus one with a 30% rate which one would you choose?  How's their job placement record.  What about alumni associations providing help with job placement?  Remember if your child doesn't get a job in the career they wanted you haven't reached the goal you set out for.   
Website Builder