On December 12th, Road2College hosted a Webinar with Fred Amrein, a nationally recognized college funding expert. Fred presented an overview for approaching the process of understanding how to finance your child’s education.
He explained the federal methodology for how FAFSA calculates a family’s EFC (expected family contribution) and compared that to the factors used in the institutional method. The institutional method is used by colleges to determine merit and financial aid that colleges provide (in addition to federal aid), taking information from the CSS Profile form. One of Fred’s most valuable suggestion is to create a 4 yr plan forecasting all your families college costs, estimated aid, # of children in colleges, and financial needs external to paying for college. You’ll be surprised how helpful this can be and will give you a better overview of how to make changes to maximize the best use of exiting funds and potential aid. You can see more videos from Fred at http://collegeaffordability.com.