<p>Be aware that most FAFSA only schools provide minimal financial assistance (federal and state grants, possibly small institutional grants, merit scholarships). Even cutting your FAFSA EFC to around $20,000 will not change the package (you won’t get a cent). </p>
<p>Profile schools (private colleges that use both FAFSA and Profile) often have better endowments and can award better financial aid packages – however, the Profile looks at alot more financial information and moving/selling/investing may not have the benefit you think it may have. </p>
<p>Like rockvillemom said – start spending hours reading the financial aid part of the forum. Focus on the difference in FAFSA and Profile and what a merit scholarship is.</p>
<p>I suspect that you are not going to find a legal and ethical way to avoid paying full freight for college – generally if you have the income and assets to be considering it, the school will evaluate your financial situation and expect you to do so.</p>
<p>However – since your stated goal in lowering the EFC and getting some Financial aid is to make certain your student is invested in his/her education, I think you can get alot of advice in that area. </p>
<p>All students, regardless of EFC, are eligible to take out stafford loans. These loans are not subsidized (they start accruing interest immediately) but do not have to be paid back until 6 months after the student leaves school. The limits change, but right now are $5500 for freshmen and sophomores, $6500 for juniors and $7500 for seniors. The loans are in the student’s name and require no co-signer. You could insist that your student take out the maximum amount of these loans and pay them off for him/her when the student graduates. </p>
<p>Campus employment is almost always available at college. Many parents do not provide money for “incidentals” and “personal expenses”. The student can either get a job on campus or do without. This is a great method for teaching budgeting and money management. My son is very stingy with his own money – but spends any money I give him freely.</p>
<p>Summer employment – many parents do not provide money for books, transportation, a car and the insurance/fuel/maintenance needed for that. You can tell your student that those expenses are up to them – they can work during the summer to earn them, or do without. </p>
<p>Between student loans, term employment and summer earnings, your student is well invested in their education – which I think was your goal, correct?</p>
<p>You can always be flexible – if you student has good grades and is doing well and has an opportunity for an unpaid internship in their field after sophomore year, you could supplement the earnings they are giving up, etc. Whatever works for your family.</p>