NO. The penalties and tax consequences are high. Additionally, the annual contributions to your 401(k) during the time your child is a college student will decrease your opportunity to receive college grants. EPR will show you ways to save for retirement without decreasing your ability to receive free grant money from colleges.
EPR provides knowledge-based strategies to minimize the expense of a college education at no cost to you.
Yes, but only for the more prestigious state colleges, like University of Michigan and private colleges, like Harvard, Stanford, Johns Hopkins and others. For a list of these schools, go to: https://profileonline.collegeboard.org/prf/PXRemotePartInstitutionServlet/PXRemotePartInstitutionServlet.srv. EPR will show you how to structure your college strategy in order to work with the impact that home equity may have on [...]
The horror stories are real. Here are some facts. About 2,000,000 families are paying off college loans while receiving Social Security during retirement, and 300,000 are having their Social Security checks garnished to pay those loans. College loans are NOT forgiven, even if you declare bankruptcy. On the positive side, some employers will pay part [...]
Selecting a college is a strategic process. The advantage of applying to 6-10 colleges as opposed to 2-3 is that there is an increased probability that some of the college responses may reveal financial assistance previously unknown to you. Additionally, it places you in a better position to negotiate between colleges based on a wider [...]
Scholarships are usually based on a student’s academic, sports, and social achievement (grades, test scores, community service, talent, leadership, etc.), and may also be called Merit Awards. Grants are based on the financial need of a student. Both Scholarships and Grants are “free money”, that is, you do not pay it back after you spend [...]
One of the biggest penalties (and usually not discussed by people selling these plans) is that these plans may significantly increase a family’s Expected Family Contribution (EFC). The EFC is what the Federal government determines to be a family’s minimum responsibility to pay for college. In many cases the amount a family saves in taxes [...]
...that both parent’s and student’s savings accounts have threshold limits on FAFSA, and being above those thresholds will increase the amount you pay for your child’s education? EPR will provide those thresholds so that you can stay below them and increase the grant money you receive from colleges.
...that contributing to your 401(k) will increase what you pay for tuition? EPR will show you ways to save for retirement without decreasing your ability to receive free grant money from colleges.
...that the money you save in a 529 Plan will reduce your ability to receive free money (gifting) from colleges? EPR will show you ways to save without jeopardizing college gifting funds.