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Financial Planning / Paying For College


Subject:  Ready or not, the time is finally here! Date:  10/5/1999  2:16 PM
Author:  phoolphancy Number:  1344 of 8580

My oldest son started college this fall. We enlisted a financial advisor through my work place to help lead us through the FAFSA jungle and provide some direction. My son recieved some financial aid from the college ($17k tuition with a $4k grant and a $2.6kloan. I currently have about $13000.00 in saving bonds (about half of them are eligible for the education benefit program. My son has $5000.00 in his own checking account. I know these funds won't go far, but they are a help. My plan is to go after as much aid as possible after my son's mid term grades come in (hopefully they will be good. Transfer his money into my account to minimize any decrease in aid due to his job (too bad kids get penalized for working through college). I'm not sure how fast to burn or in what order to use the savings bonds,but I may as well use them as needed. I also expect my daughter to start college next year. I believe the expected family contribution will be about the same if both are in college at the same time. My question is: Am I doing the right thing in the right order?
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