Yes, you read that right. Just because your household income is over six figures doesn’t automatically exclude you from getting tuition assistance. However, it does make things a little tougher, so you need to start early and know the right places to look. Here are three tips for higher-income families who don’t want to take a big hit when it comes to paying for college for the kids.
- Apply early for financial aid – Merit-based financial aid doesn’t take income into account, so be sure to focus on scholarships. You can also apply for financial aid if you intend to go to a private university with a higher These universities realize that $100,000 a year in income is not going to be enough to send your kids to their school.
- Start an education savings account – It’s never too late to start this option, but it is best if your kids are young. Don’t wait until high school to start setting money aside.
- Get financial planning assistance – Don’t try to navigate the murky waters of the financial aid system alone. Tons of money set aside for this very reason goes unclaimed every year, so you don’t want to miss out just because you didn’t know the right place to look.
Professional Financial Planning Assistance for College Hopefuls
Whether you want to uphold the family tradition of sending the kids off to school or your kids are going to be the first, College Planning Source, located in southern California, can help you to find the right financial aid services to soften the monetary blow. To start planning today, call 858.676.0700, or you can contact us via submitting the form on our website.