What I’ve been thinking about-
One of the biggest mistakes I see parents make is not actively trying to reduce the net cost of college because they have been diligent in saving and think they have enough set-aside. And chances are, they do. But, how could their student's life be impacted if they were to do a little planning and make some smart money moves during the college selection process? If, for example, they were able to tweak their AGI to increase the number of tax scholarships available to them by $10,000 over four years, or decrease the net cost of college by the same amount, the impact could be significant. That's $20,000 that can stay in savings and be used for their future grandkids' college. And, if this money grows at an average of 7% over 25 years, that's over $100,000 set aside for the next generation's college tuition.
Articles I’m reading-
Finally, students can comparison shop the cost of their college majors. The Department of Education expanded the College Scorecard to include data on the average level of debt for individual programs.
Have a great week!