| Most American families are offsetting the | | | | getting enough guidance on the college |
| high cost of college by applying for some | | | | funding process.Well-meaning guidance |
| degree of financial aid by submitting their | | | | counselors invite FAO's to speak at their |
| FAFSA (Free Application For Federal Student | | | | high schools, trusting them to put the best |
| Aid) on or after January 2nd. Unfortunately, | | | | interests of the students above the financial |
| this is not a simple process as the college | | | | interests of their college. By evening's end, |
| financial aid system is anything but | | | | parents are often left with a false sense of |
| user-friendly. There are an endless number of | | | | security that the college of their choice |
| pitfalls in the application process, and it | | | | will award their student its best possible |
| is far too easy for families to lose some or | | | | financial aid package. This is hardly ever |
| all of the aid they are eligible for.Many | | | | the case!Much like frugal employers whose |
| families fail to even attempt application | | | | goal is to hire the most talented applicants |
| because they don't know how to, or they | | | | for the least amount of pay, FAO's seek the |
| incorrectly assume they are not qualified, or | | | | most promising students for the least amount |
| simply because they are intimidated by the | | | | of financial aid. Relying on an FAO to cut |
| complicated and confusing process and all its | | | | your college costs is like expecting an IRS |
| paperwork. With far more qualified | | | | agent to help reduce income taxes! FAO's can |
| applicants than desks in all of America's | | | | be helpful, but their loyalties are with |
| colleges and universities, it is reasonable | | | | their schools - not their |
| to expect a system intentionally designed to | | | | applicants!Accountants may offer some |
| eliminate all but the most knowledgeable and | | | | assistance, but far too few have experience |
| persistent applicants.According to a | | | | with college funding. Although they are |
| disturbing statistic from the US Dept. of | | | | experts with income tax forms and tax |
| Education, over 90% of all financial aid | | | | strategies, college financial aid forms and |
| applications are rejected for errors and | | | | college funding strategies are a horse of a |
| inconsistencies! As financial aid is awarded | | | | different color. The good-intentioned |
| on a first-come, first-served basis, the loss | | | | application of accounting principles to |
| of time in the resubmission process results | | | | college funding can actually hinder a |
| in thousands of dollars of lost financial aid | | | | family's chances of getting all the financial |
| to eligible families who braved the college | | | | aid they are entitled to!There is an endless |
| funding process blindly and alone.This being | | | | amount of misinformation on the subject of |
| the case, what's a family to do with one or | | | | college funding, and a good deal of it is |
| more college-bound students facing as much as | | | | from so-called reliable sources. In fact, one |
| $160 to $300 thousand dollars to send their | | | | instruction on the current FAFSA, if |
| kids to a 4-year college? Many make the | | | | followed, will cost families thousands of the |
| mistake of relying solely on the advice of | | | | financial aid dollars they are eligible for! |
| guidance counselors, college financial aid | | | | (See our website for FAFSA ALERT!) So, "who |
| officers (FAO's), and even their accountants. | | | | you gonna call?"One of America's best kept |
| Sadly, these families are not getting all of | | | | college secrets is the existence of the |
| the financial information they need and are | | | | college funding professional! This small |
| in for a rude awakening!Nationally, guidance | | | | group of admissions and financial aid experts |
| departments are facing their worst crunch | | | | assist parents through the college funding |
| ever, and are overloaded with as many as 800 | | | | process and help families provide their |
| or more students for each counselor! Budget | | | | students with the best possible college |
| cuts have added to the problem causing | | | | education for the least possible cost. One |
| schools to increase the responsibilities of | | | | would naturally assume they are in great |
| guidance counselors in areas other than | | | | demand and buried with invitations to lecture |
| guidance, leaving them with even less time | | | | at America's high schools. Sadly, this is not |
| for their students - and there is no relief | | | | the case!It would surprise and outrage |
| in sight!Despite these obstacles and to their | | | | parents to learn that, on a national scale, |
| credit, guidance counselors still manage to | | | | most guidance departments refuse the services |
| effectively advise students in career | | | | offered by college funding professionals, |
| planning and college selection. However, | | | | often stating that bringing in "outsiders" is |
| when it comes to college funding, they come | | | | against school policy, even when such |
| up short in providing the necessary financial | | | | services are offered absolutely free! The |
| information that could save families | | | | distressing result is, every year, parents |
| thousands of dollars!Counselors have little | | | | enter the college funding arena without the |
| time and lack the expertise to show parents | | | | necessary ammunition to do battle with the |
| how to reduce their Expected Family | | | | system - and severely overpay for college!For |
| Contribution (EFC), the minimum the federal | | | | further information and guaranteed solutions |
| government determines that each family will | | | | to America's higher education crisis, please |
| pay for any college, based on the information | | | | visit: financial advisor & lecturer for |
| submitted on the FAFSA. Additionally, | | | | almost 3 decades, Reecy Aresty has helped |
| knowledge of specific legal financial aid | | | | thousands of families to protect their |
| strategies and their correct application | | | | assets, increase their wealth and reduce |
| would help families avoid or reduce an array | | | | their taxes. In the 1980's, he mastered the |
| of assessments that could cost them thousands | | | | complex world of college admissions and |
| of dollars for each year their students are | | | | financial aid. In 1986, a generous gift from |
| in college!For example, parents and most | | | | the Aresty family to the Wharton School at |
| guidance counselors are unaware that students | | | | the University of Pennsylvania established |
| have no asset protection allowance. | | | | the Aresty Institute of Executive Education. |
| Consequently, students with assets in their | | | | So began the Aresty family legacy; a |
| own name are assessed by the federal | | | | dedication to the pursuit of knowledge |
| government at 35% for each year they are in | | | | through higher education for all. In 1993, |
| college! Thus, a student with $1,000 will be | | | | Reecy founded College Assistance, Inc. |
| assessed $350 for each year the $1,000 | | | | Continuing the family tradition, he helps |
| remains in their name. After 4 years, they | | | | parents send their kids to the best schools |
| will have lost $1,400 in financial aid for | | | | for less than they ever dreamed possible! He |
| having only $1,000 worth of assets! This is | | | | has recently authored the groundbreaking new |
| tragic as it can be legally avoided - if you | | | | book, "Getting Into College And Paying For |
| know how.Periodically, guidance departments | | | | It." The first book of its kind also |
| present "in-house" Financial Aid Nights which | | | | available in Spanish, it is filled with trade |
| focus on filling out financial aid forms and | | | | secrets, insider information and legal money |
| understanding the basics of the process. | | | | saving strategies guaranteed to cut the |
| Nevertheless, year after year, 9 out of every | | | | rising costs of college! Reecy has become a |
| 10 families applying for financial aid | | | | major factor in obtaining affordable, quality |
| continue to be rejected for filling out their | | | | educations for America's students. |
| forms incorrectly. Clearly, parents are not | | | | |