Besides learning about the Expected Family Contribution calculation, what strategies can I use to maximize my college funding?
- Being a student of note (academically, athletically, musically, whatever might earn you scholarships)
- Doing well on college entrance exams such as the ACT or SAT
- Studying hard in high school so you won’t just get into college, you’ll be prepared to stay in college
- Earning as many college credits in a low cost environment as is feasible (AP credits, CLEP testing, PSEO, community college, transferring)
- Choosing a field of study that is not financial suicide
- Choosing the right college with a reasonable cost of attendance that will also value you being their student
- Being situated in your own best financial position for calculation of your expected family contribution in year 1 and beyond
- Clustering children’s college attendances
- Maintaining good grades so you not only stay enrolled, you remain eligible for scholarships and any other aid you were receiving
- Graduating at least on time if not early
- Exiting school with student loan plan
- Having a post-graduation job lined up (this is easier if you took a co-op) so you can get started on paying those student loans from a position of strength
Also, don’t be afraid to consider college alternatives. Trade schools will pay you to learn while you work, have been in a (worsening) shortage for years, plus many of them also are resistant to off-shoring. Certificate programs or credentials are much cheaper and faster to earn than full degrees.
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