Three "Off Season" Summer Strategies That Can Help You Pay For College

Well, the heat of summer has arrived in earnest, and I hope that you are enjoying some excellent weather as well as the opportunity for some well-deserved vacation time. Perhaps you are sending the children off to that terrific, long-awaited summer camp… or, closer to home, maybe even just relishing beautifully warm weekends filled with family fun, good food, and relaxation.

Let’s be honest, you will need to grab that relaxation while you can! No matter whether this coming Fall represents your teenager’s last year in high school, or whether he or she will begin that exciting college career, the upcoming year will be one of significant adjustments and startling financial realities for both you and your family.

The amount of paperwork involved if your child is about to become a high school senior is, well, simply mind-boggling. Like most families with college-bound children, you’ll be facing stacks of college forms and financial aid applications. In addition to this, it will be necessary to review your assets to ascertain the best strategy for your financial situation. Add to this the crucial task of assisting your student to the selection of a college that will offer the best educational experience possible, and I think you will agree that you have your work cut out for you!

On the other hand, if this summer represents the brief repose before college starts for your child, then not only are you facing some imposing tuition bills, you’re also going to have to complete all of the paperwork (yikes… all the same stuff you have already done this year!) in order to bring down your future Expected Family Contribution (EFC). This will assist you in keeping your financial outlay down for next year, as well. After all, the financial aid forms have to be submitted each and every year your child attends college!

However, like any other valuable plan that involves work, no-one will force your hand to make you complete all of these steps! Many people will ignore these steps and choose to focus in on the carefree days of summer in earnest. In the long run, though, choosing to do just that could make the Autumn considerably less carefree, when you discover that the available financial aid sources are dwindling… and the government and schools are of the opinion that you can afford a lot more money than you think you can.

You can either choose to be prepared, or put it off and pay the price in the future.

Should you make the wise decision to start now, (and I sincerely hope that you will), your family’s college and financial aid application process will be smoother and easier… and you will boost the golden opportunities to obtain all the college money available to your child.

For your consideration, in the next couple posts we will be pleased to suggest three excellent summertime strategies – things that you can do right now – in order to assist your child in earning an acceptance letter from a wonderful college… and a way to pay for it!

So be looking forward during the next couple weeks for the helpful summertime strategies.