Let's Talk About College Funding
College Funding is the money that pays for your student's college attendance. It covers tuition, books, room and board, lab fees, excursions and more.
Most families think it's their responsibility to pay for it all, especially if they are higher income earners. The colleges perpetuate this myth because it's in their interest to do so. Colleges are businesses, and their goal is to make money by charging as much as they think you will pay for your student to attend.
In today's job market, a college education is increasingly essential for most career paths.
Employers more often than not require college degrees as a prerequisite for employment. In 2017 less than 34% of jobs could be filled with a high school diploma, down from 75% in the 1970s2 and this number is continuing to drop. Even professions like firefighting now require a college degree.
The average college graduate will earn an average 75% wage premium over the average high school graduate and earn double the money over their lifetime.
College Is Expensive
Average annual college tuition fees in 2021 ranged from:
$10,000 - $20,000 per annum for community colleges
$20,000 - $60,000 per annum for state colleges ($20,000 - $40,000 if you live in the state)
$40,000 - $80,000 per annum for private colleges
$80,000+ for Tier one schools like Yale, Harvard, Tufts, etc
Some alarming stats:
- The average student takes 5.5 years to complete their undergraduate degree.
- Only 48% of students graduate/complete their degrees.
- Over 68% of parents say they are worried about paying for college.
So what's the answer?
How To Pay Less For College
There are 3 things that you can do to pay less for college:
- Start College Planning as soon as you can.
- Understand and Work the Process.
- Get Help.
By starting early and working with an American College Foundation (ACF) Advanced Certified College Planner you will win in the following ways:
- Your annual tuition fees will be lower as a result of working the EFC/FIA formulas.
- Your student will be coached to attract college funded discounts, awards & scholarships.
- You'll pay less for the tuition you do pay by using an invisible college savings account and taking advantage of tax-free compound growth.
- Your child will be accepted into more and better colleges providing them with better career and earning opportunities.
- Your student will be better prepared for college and make better college and course selections.
- Students who go through this program with us graduate on average a full year earlier saving a year of tuition and college expense.
- Our student graduation rate is 86% vs 48% of the general student population.
What would these benefits be worth to you?
The good news is that the American College Foundation (ACF) is a non-profit and the Advanced Certified College Planners who work with ACF are able to deliver their programs at much, much less than you'll pay elsewhere, plus no-one else can produce the results we do.
Funding Sources - What are the different sources for college funding - it's not what you think.
Financial Aid - What the colleges assess when it comes to income and financial assets, learn that some assets count more than others, and some don't count at all.
Merit Aid - Understand the largest source of funding for "attractive students". How your student can access more of this funding and have colleges competing for their attendance.
The Colleges Secret Funding Formula - How the colleges determine how much to offer/award your student and how understanding this can reduce your college costs by thousands and more.
Timing - The College planning timeline and when you should complete each step to receive as much award/scholarship funding as possible.
Free Webinar Session
Schedule a no-obligation, free webinar for your family (both parents and students are encouraged to attend) to learn how college funding works.
Don't leave money on the table just because you thought you earn too much.
Award Assessment - Your student was accepted and received a funding award, but how do you know if its good? Did you know you can appeal and ask for more?
2023 Changes - Did you know that the FAFSA EFC is being replaced by the Student Aid Index (SAI) and along with it the discount for having multiple students in college at the same time?
Learn about these and other changes starting for college applications from 2023 forward.
American College Funding Solutions
ACF Is the premier organization providing free college planning resources for parents.
Most all parents assume that because their son or daughter has been accepted for admission, the school will naturally ‘take care’ of the student and offer appropriate funding to make their attendance possible.
After all, the process is routinely portrayed to the family as free, easy, you can do it yourself, and the college will help out. Unfortunately, it’s just not that simple.
Actually, not even close.
ACF is the only non-college company that has access to all the data from all the colleges to know how much who pays and can advise you on what is fair for you, plus what your child can do to improve their chances of:
- Getting in; and
- Paying less.
Meet Your Certified College Planner
I was born in Perth, Western Australia. I achieved my Bachelor of Business with double majors, before going on to complete a Masters of Business Administration after time gaining experience in the workforce.
I understand the importance of a College Education. I wouldn’t be where I am today without one.
In the US my further study and credentials include:
- Advanced Certified College Planner
- Advanced Markets Certification
- Licensed Insurance Broker
- Series 65
- Health Insurance Licensed
- Annuities licensed
- Retirement Planning Certified
- Debt Free Life Certified