The Process for applying for financial aid for your high school aged children begins on January 1st of their junior year and runs through December 31s of their senior year. It is a process that must be entered into every year that aid is desired. Fortunately A Better Financial Plan was able to get insight from Keith Calil who has assisted over 30,000 families in receiving financial aid.
Keith's 25 presentation is a 101 for any family that is considering entering into the financial aid process. In it he covers:
- Expected family contribution
- How need is determined
- The complexities of the free application for financial student aid
- Common mistakes to avoid
- The College Scholastic Service
If financial aid is something that you are considering then Keith's presentation is certainly worth your while. And oh by the way, your 401K and IRA absolutely will be factored into the calculation of need as assets. A Better Financial Plan has alternative savings methods that will allow you to gain the returns you seek and leave the investments literally invisible to the college financial aid process.