“Even though Financial Aid was originally intended for those who needed it most; it actually goes to those who know the most about the process. Financial Aid has become a free-for all that leaves most families baffled and disappointed.”
US NEWS and World Reports
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College planning is a comprehensive look at a family’s resources and how it affects their ability to pay for qualified education expenses. The family’s resources will dictate whether they will qualify for financial aid, tax incentives and what the best overall method of payment will be. We utilize these resources to best decide what the most beneficial strategies are in reducing a family’s educational expenses. The results are often dramatic! We save families thousands off their education costs annually. The planning encompasses:
- Calculate the Expected Family Contribution (EFC)
- Income & asset positioning to minimize Expected Family Contribution (EFC)
- Evaluate family’s current financial situation & cash flow
- Increase financial aid eligibility
- Maximize the benefits of educational tax incentives
- comparison of colleges & financial aid awards
- Comprehensive financial modeling for college
- Award letter review & true-cost analysis
- Loan & consolidation strategies to increase cash flow
- Determine the most cost-effective method for paying for college
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Student counseling is often overlooked in the process of college planning. Over the years My College Planning realized that many of the students didn’t properly prepare in the college selectivity process. Students were making their college choices based on emotional decisions rather than educational ones. Our student counseling helps students take a detailed look at their situation and possible career and college choices based on a comprehensive profiling program. We then work with the student to maximize the student’s success in getting into their college choices. Student counseling encompasses:
- Comprehensive career planning
- Personalized college selection
- Demonstrated interest & merit procedures
- Standardized test review
- Application and essay consulting
- Marketing of student athletes & musicians
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As federal and state education cuts continue to be record setting, the federal government and institutions are becoming increasingly strict on releasing their money. The federal and institutional forms are becoming more complicated and continue to assess more of the family’s resources (income and assets). My College Planning realizes that mistakes on financial aid forms can be costly and drastically reduce one’s overall award package. We have seen families denied aid based on unintentional errors and we have also appealed to the financial aid officers based on incorrectly filing. However many families aren’t even aware of their mistakes. The Department of Education has stated that 90% of the families that filed their FAFSA last year, filed incorrectly. Don’t let this happen to you. The forms processing encompasses:
- Aggregate asset & income information
- PIN application process
- Accurate School Codes
- Federal (FAFSA) and Institutional (CSS Profile) form Answer Keys *
- Review SAR (Student Aid Report)
* The FAFSA and CSS Profile forms are completed online by the parents. We provide you the answer keys to accurately complete these forms. There are fees charged by the College Board associated with processing the CSS Profile that are paid by the parents.
Appeal Services:
Appealing a financial aid award is the formalized process that a family should take if they were not awarded a sufficient financial package based on their specific financial situation. The financial forms can not take into account “special circumstances”. A “special circumstance” is a situation defined by the college that would cause additional financial stress on a family’s finances and should be taken into account when calculating their award package. Examples of special circumstances are: excessive medical costs, a disabled child, loss of a job, death of a parent and victims of a natural disaster to name a few. Financial aid departments are almost always not aware of a family’s special circumstance and therefore don’t base their award on your family’s complete situation. If you have a special circumstance or a situation that affects your finances please make us aware of it, as it can often lead to a significant increase in your financial aid package. The appeal service encompasses:
- Reviewing award letters & family situation to determine if appeal is beneficial
- Special circumstances documentation supporting the appeal
- Negotiate insufficient awards
- Research each school’s appeal process
- Drafting of written letters to financial aid officers & potentially other administration
- Several attempts may be necessary to increase award
- Review the revised award & ascertain if further work is required
For a more graphical representation of our services: Take a Look