What a CPA is told to tell clients for financial Aid

[JustAMomOf4]

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The student should consider colleges that meet 75 to 100 percent of the student�s financial need. Each year the average percentage of financial need met by each college is published.

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<p>This is very deceiving in colleges that award merit aid. Make sure you ask for examples of financial aid awards for students with incomes in your range.</p>

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I think the best advice, to piggyback onto Taxguy’s, is to spend like crazy all the years ones kids are growing up, encourage them not to have jobs or budget money, basically buy lots and have plenty of debt, and then there will be BIG financial aid rewards.

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<p>this is one of the biggest misconceptions out there - we never had a lot of assets anyway, but afte having at least one kid in college for the past 7 years and 4 more years to go - we are about out of assets. No hiding here.
By having a low EFC does not mean there will be BIG financial aid awards - hardly any schools meet 100% of need - you and your kids are ALWAYS better off if you have high income and high savings - even if it means you have to spend it.</p>