Before the college search process begins, every family should go through a College Pre-Approval™ process just like buying home. This exercise will show you how many families pay for college and close the gap between what you have saved and the cost of education.
Time to get serious - this stage is often the most challenging for families to navigate without a skilled CERTIFIED FINANCIAL PLANNER™ but it is also one of the most important stages to prepare for. This is the stage where teenagers are asked to make one of the largest financial investments of their lives, with limited experience. It’s important to work with a college planning professional to navigate the hard decisions.
During Stage Two Melissa will help you to look at your family’s financial situation and create an executable plan.
• What resources has your family saved during Phase One and are there any other resources available to pay for college?
• What are the financial demands of your current lifestyle, your long-term goals, outstanding debts, and retirement plans?
• How is your family shopping for college? It’s important to balance your child’s professional goals with the overall cost of college and to evaluate the financial aid opportunities offered by each university – you may be surprised at the financial aid options available to your student!
• Consider getting pre-approved for college funding.