EARLIER IS BETTER THE NO. 1 RULE IN COLLEGE PLANNING
If your student starts their junior year this fall, it’s time to do some planning. Sure, college may seem like it’s a ways off yet, but most of your best opportunities to save money on college start this summer. We’ve compiled a list of the top three things you need to know when planning to pay for your student’s education. They all have one thing in common: If you wait for the summer of your student’s senior year, it may be too late.
which school they choose to attend. The sooner you know this number, the sooner you can start saving to meet this minimum threshold.
Waiting until your student’s senior year gives you little to no time to prepare for this financial burden. It’s important to remember that many schools end up asking for more than the base level expected contribution. When this is the case, hard choices might have to be made.
Know Where to Save
Narrow the Field
Where you save money for college matters. Assets accumulated in the “wrong” places can hurt your financial aid evaluation. Gifting, transferring, or repositioning these assets you intend to put toward your child’s education takes time and careful planning. If your child is in their senior year, it may already be too late.
While we encourage the students we work with to apply to a robust list of schools, we also urge them to build this list from intentional choices. Do some research on the schools your student is interested in, paying close attention to the percentage of need-based aid the institution typically awards, not just the sticker price. By narrowing the field, you’re cutting expenses on travel (to visit prospective schools) and application fees. Most importantly, you’re saving your student valuable time by ensuring they stay focused on putting forth their best applications to schools they can afford to attend.
Plan Around Your Expected Contribution
The Federal Government calculates your expected family contribution after you complete the FAFSA. This is the minimum amount of money Uncle Sam expects you to contribute to your student’s education, regardless of
BALSAMIC GLAZED PORK CHOPS
HAVE A LAUGH
Inspired by paleoleap.com
INGREDIENTS • 4 boneless pork chops • 1/4 cup balsamic vinegar • 3 tablespoons raw honey • 2 cloves garlic, minced
• 1 teaspoon crushed red pepper flakes • 1 teaspoon fresh thyme • Salt and freshly ground pepper, to taste
INSTRUCTIONS
1. Heat oven to 400 F. 2. Generously season pork chops with salt and pepper. 3. In a saucepan, combine balsamic vinegar, honey, garlic, red pepper flakes, and thyme. 4. Bring to a boil, reduce heat, and simmer gently for 5–6 minutes. 5. On high heat in an oven-safe saute pan or skillet, sear the pork chops for 1–2 minutes on each side. 6. Brush chops with half of glaze and transfer to oven. 7. Roast 6–8 minutes. 8. Remove from oven and brush with another coat of glaze. Let cool 5–10 minutes and serve.
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