Why is financial planning for college so difficult? Families must cope with conflicting truths:
1. If you aren’t eligible for financial aid, it’s desirable to have maximum assets and income.
2. If you are eligible for financial aid, it’s desirable to have minimum assets and income – at least from the standpoint of maximizing your aid package.
3. Your assets and income determine whether you are eligible for aid.
It’s no surprise that many families throw up their hands and hope for the best at college time. Understanding your situation, however, may allow you to structure your finances in a way to maximize aid or at least make paying for college easier. College Confidential can help you find your way through the financial aid maze. Check these articles in this series: