The Crisis College Plan™
A systematic approach to designing a college plan for your unique needs
If
college is 1 – 3 years away for your child:
- Your time for new savings is rapidly diminishing
- You need to develop a budget and plan for paying for college
- College selection can become a key factor
- Actively monitor retirement resources to make sure they are working for you while you pay college bills
The Crisis Plan Diagnostics™
You will work with a College Money Professional to complete The Financial Aid Test™, the key diagnostic tool for determining your crisis planning steps. You will know, in
advance, whether need-based financial aid is in your child’s future so you can plan accordingly. Don’t
assume! The formulas are complex and you may find your test results surprising.
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- College selection is key!
- Look for colleges that meet 100% of need
- Explore colleges of interest regardless of cost
- Use your Expected Family Contribution to budget
- Complete financial aid paperwork accurately and on time
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- Setting a college budget is key!
- College selection should consider cost and potential for non-need based aid
- Cash flow planning will help you plan for the college years and the recovery years
- Use your Expected Family Contribution to budget
- Complete financial aid paperwork accurately and on time
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| Most families can do this on their own, but we are here to help. Contact us for our fee schedule. |
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Professional planning may be valuable. Contact us for our fee schedule. |
The Crisis College Plan™ in 4 Steps:
Step 1: The Crisis Plan Diagnostics™
The first step in any college plan is to do The Financial Aid Test™. This will tell you immediately whether need-based financial aid is going to be a part of your plan. Once you have the answer, you will fit into one of two planning categories. Your plan will depend on that category.
Step 2: The Crisis Plan Design™
Now that you know your planning category, you need to follow a series of steps that will take you through college selection, college budget, financial aid planning (need-based and non-need based) and cash flow planning.
Step 3: The Crisis Plan Implementation™
To be effective, a plan must be well-implemented. Often a professional advisor can help keep the family on track with timing. This is especially important with college issues where deadlines can be critical to the outcome of a plan.
Step 4: The Crisis Plan Monitor™
Once the student is in college, the plan does not end. Parents need to keep track of several issues;
- College planning for younger children in the family
- Potential changes in financial aid status that could occur during the college years
- Retirement planning issues. Because education debt can have an adverse impact on retirement, parents need to monitor their retirement plans to make sure they are not compromised and that they are performing well.
A college financial planning professional can help manage your plans.
College Money Can Help!
We use the proprietary tools that we have developed through 25 years of experience to help clients create each step of The crisis College Plan™
Contact College Money to receive a free crisis planning starter kit and learn how we can help you.
