Exposing the $100,000 College Funding Mistake

04/25/2011 13:25:00

Exposing Your $100,000 College Funding Mistake Before Its Made

I just concluded a phone conversation with a hardworking mom who did a good job saving for college and her child received a sizeable scholarship. One the surface, it appears that they are well prepared and paying for college will not be an issue.

However, lurking in the background is a very serious problem. This issue is so critical that being unaware of its presence has caused catastrophic financial problems for millions of retirees. They, too, did a awesome job of saving for their children's college education but are now dependents of their children.

Their college funding plan has turned into a college funding nightmare as the children are now faced with the daunting task of not only trying to build a new life for their young families but are also confronted with the reality that mom and dad cannot take care of themselves without their financial assistance.

Over my 20+ years of experience, I have seen and heard hundreds of horror stories of how parents unknowingly transferred their financial security to the college's financial aid office to pay for their children's education because they did not know how to properly and efficiently prepare for both retirement and college without sacrificing one over the other.

Are you making the same mistakes? Is your college funding strategy setting you up for bankruptcy and poverty in retirement? Are you toiling over whether or not you going to be able to retire safely and fund college?

I have good news! You can beat the high cost of college! You can learn to use other people's money 1st. You can have your cake and eat more of it without the worry that most parents face.

Consider these few ideas:

- Learn what steps you should be following to minimize your college costs.

- Do not use scholarship searching as the primary means of funding education. Most people who search for scholarships are sorely disappointed.

- Never depend on one concept or strategy. Use a blended approach that maximizes every opportunity that is available to you.

For more exciting answers to your college funding questions, you are welcomed to attend our complimentary teleconference this coming Monday at 7:30pm. We cover relevant topics regarding the college funding experience from a nontraditional perspective. We address the issues that no one else is talking about.

Jeffrey Taylor is a Certified College Planning Specialist with over 20 years of experience as a financial professional. He shows parents how to fund their children's college education without raiding their retirment. Visit our site at www.tuitionreductionplan.com or call our office at 248-230-9668.

Searching for Scholarships is a Waste of TimeQ

04/22/2011 22:14:00

They Fooled Me! Searching for Scholarships is a Waste of Time!

As I was in a conference with a parent, she begin to explain to me how hard she and her daughter worked searching and applying for scholarships only to have nothing to show for it. After submitting hundreds of applications and spending several months going through a very tedious process they thought was the solution to their funding challenge, not one of the hundreds of applications submitted for funding were approved. She said, “They fooled me, the advice that I received from other parents, friends, and everyone else was wrong. We did all that work for nothing!”

As a Certified College Planning Specialist, I see 1st hand the heart break and frustration that befalls those that depend on a process that is doomed to fail them. Each new year brings a new group of eager and unknowing parents and students searching for the keys that unlock the doors of unlimited scholarships. They are lead to believe that searching for scholarships will reap huge rewards for those that are willing to pay the price of submitting and applying.

Unfortunately it’s a very common assumption and a very serious problem as students put their hope in a process that is greatly flawed and unpredictable. No doubt there are those small few students that apply for scholarships and actually receive one, but those are the very few who like winning the lottery, beat the huge odds that are stack against them.

Here are a few things to consider:

1. Most students that receive scholarships do not search for them. For example, athletes and honors students do not search for money. It comes to them. Would you like to know how you can duplicate that process?

2. Only 2% of all funding comes from private sources. So why spend an enormous amount of time searching in the smallest pool of available dollars.

3. In most cases, private scholarship providers do not provide up to date notification of whether or not the scholarship that they offered two years ago is still available.

4. Most private scholarships do not notify the applicant that their application has been received once a student sends it in. The student has no idea whether or not it was lost, accepted, rejected, etc.

Should students apply for scholarships? Absolutely! However, the rules have changed and putting a lot of time and energy into the unknown will end in disappointment. The best thing to do is to call me. Then we can discuss what options are available for that particular student instead of depending on hearsay and rumor. Funding a college education is easy if you know what you’re doing. What students did 20, 30 years ago no longer applies.

Attend our next Free Teleconference this Monday at 7:30pm. We will be discussing why going on a college tour can be a waste of money if your child does not come back with a check! RSVP at www.tuitionreductionplan.com or call us at 248-230-9668.

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Exposing the $100,000 College Funding Mistake

Searching for Scholarships is a Waste of TimeQ