The College Planning Blog

According to the today’s USA Today, college students
are racking up credit card debt to pay for
their education.

30% charge their tuition compared to 24% in 2004.
92% of undergrads charged textbooks, school
supplies and other educational expenses compared
to 85% in 2004.

Marie O’Malley, director of consumer research
for Sallie Mae, thinks families are underestimating
college costs and opting for more expensive
credit card debt in lieu of applying for cheaper
financial aid.

“Too many students are at risk of overpaying for
college by pulling out credit cards…instead of using
less-expensive financial aid…” said O’Malley.

Wow!  Does this sound familiar?

Brannon and I have been warning about this,
like a broken record, for years.

Why don’t parents apply for financial aid?  Put another
way, why do 53% of all eligible families not bother
to apply?

One reason is intimidation. You “need a PhD” to
figure out the FAFSA, according to Secretary of
Education Arne Duncan. The forms are annoying
and a pain the in the rump, with multiple land-mines
to stumble on and blow up all chances of aid.

Another reason is that parents put off their college
planning until it’s too late. The best time to start
the college planning process is the second half
of sophomore year, junior year at the latest.

What are the consequences to your children if
you don’t take this seriously?

One graduate who maxed out his credit cards
to pay for college fretted, “I wonder if I’ll ever be
able to get a home…with the debt I have now and
the marks against my credit.”

We’re running Four free college funding workshops
this month.  Response to my emails and our
ads has caused attendance to spike.

Register today at:

CLICK HERE TO REGISTER

Seating is limited.

Hope to see you at a workshop this month!

Jeremy

P.S.  Some of the topics to be covered include:

* How even millionaires can save 20% off the
cost of college;

* Think you make too much money to qualify
for financial aid?  You’re probably wrong, dead
wrong!

* Can you legally “position” yourself to receive more
financial aid?

P.P.S.  Please forward this to a friend who could use help.