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Successful Solutions, LLC 7851 University Avenue, Suite 103 La Mesa, CA 91941 (619) 460-9433

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Presentation on theme: "Successful Solutions, LLC 7851 University Avenue, Suite 103 La Mesa, CA 91941 (619) 460-9433"— Presentation transcript:

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2 Successful Solutions, LLC 7851 University Avenue, Suite 103 La Mesa, CA (619) Your Presenter: Christian K. Clark, RFC, LUTCF

3 Successful Solutions, LLC Affiliated with 123college.com, Inc., your source for college financial planning information, education and training. Since 1994, we have developed financial aid analysis software annually, to ensure accuracy and full compliance with the U.S. Department of Education’s complicated financial aid formulas.Affiliated with 123college.com, Inc., your source for college financial planning information, education and training. Since 1994, we have developed financial aid analysis software annually, to ensure accuracy and full compliance with the U.S. Department of Education’s complicated financial aid formulas.

4 It's Expensive No Matter Where Your Children Go! It’s not just Tuition - Books, It’s not just Tuition - Books, Room and Board, Living Expenses, etc. 4 years can easily cost 4 years can easily cost $60,000 to $200,000...or more! Multiply by the Number of Multiply by the Number ofKids! Keeps going up Every Year! Keeps going up Every Year! Average Cost of a Private College/University is Approximately $35,000 per Year. Average Cost of a Private College/University is Approximately $35,000 per Year. Average Cost of a Public College/University is Approximately $15,000 per Year. Average Cost of a Public College/University is Approximately $15,000 per Year. Costs have Historically Risen at Three Times the Rate of Inflation. Costs have Historically Risen at Three Times the Rate of Inflation. College Board

5 Actual College Costs Including Tuition, Fees and Room and Board only, for the school yr. University of San Diego $41, Stanford University $43, University of Southern California $44, San Diego State University $13, Cal Poly San Luis Obispo $12, University of Notre Dame $42, SCHOOL COST

6 Education Expense Estimate College Choice: (Notre Dame) Years to Attend st Year College Costs: $44, (Tuition Room & Board, Fees) (Tuition Room & Board, Fees) Wardrobe, Transportation, Books, Insurance, Medical, Personal, Etc. $ 5, st Year Total $49, st Year Total $49, Total Cost of 4 year Education $220, (add 7% annual cost increases) (add 7% annual cost increases) State Schools increased an average of 8% for and Private Schools 5.9%. Up 35% in the past 5 years, according to USA TODAY 10/24/2006

7 The Fact Vs. The Fiction: Who Is Eligible For Financial Aid? The Fiction The Fiction 1. My Income is too High. 2. My Child did not Win a National Merit Scholarship. 2. My Child did not Win a National Merit Scholarship. 3. If My Child does not Qualify for Need Based Aid, There’s no Hope. 3. If My Child does not Qualify for Need Based Aid, There’s no Hope. 4. I Own a Nice Home. 4. I Own a Nice Home. 5. School People can Help. 5. School People can Help. 6. It’s a Simple, Easy and Fair 6. It’s a Simple, Easy and Fair Process. Process. The Facts 1. Middle & Upper Middle Income Class Kids can Qualify. 2. Need Based Aid Based on Income, Assets, Number of Kids, etc. 3. There are Millions of Dollars of Aid for Kids with Academic, Artistic & Athletic Talent. 4. FAFSA form doesn’t ask for Home Equity, but the Profile form does. 5. Colleges are Businesses & are Concerned about their own Enrollment & Finances 6. Many Believe it’s not Simple, Easy or Fair. or Fair.

8 How Do They Determine If I'm Eligible? COA – EFC = Financial Need COA Stands for Cost of Attendance. COA Stands for Cost of Attendance. (Includes Tuition, Books, Room/Board, Incidentals & “Ask-identals”) EFC Stands for Estimated Family Contribution (Based on Parents’ and Student's Income, Assets, Ages, Number of People in School.). Financial Need is how much Aid your Family is Eligible to Receive. OUR GOAL: TO SHOW YOU HOW TO OBTAIN THE MAXIMUM AID PACKAGE ALLOWABLE

9 How To Get More Need-Based Aid For College! It is a Two Step Process. 1) Lower Your EFC We Can Help You Re-Arrange Your Affairs To Get More Money By Learning The Legally Established Rules! 2) Find the Schools Which Will Provide You with the Most FREE Money. We Will Conduct a Customized College Search. 123College’s Database is the Most Advanced and Comprehensive in the Industry.

10 Step 1: Example Of A Family That Took Control! Family Before: Adj. Gross Income: $75,000 Non-Qual. Investments*: $0 Bank/ Mutual Fund: $100,000 Custodial Account: $20,000 Number in Family: 4 Number in School: 1 EFC = $20,467 Family After: Adj. Gross Income: $75,000 Non-Qual Investments*: $70,400 Bank/Mutual Fund: $49,600 Custodial Account: $0 Number in Family: 4 Number in School: 1 EFC = $10,646 Family Qualifies for up to $9,821 more in Financial Aid per Year, or almost $40,000 over a 4 Year Span because They took the Time to Understand the Process, Learned what They had to do...and TOOK ACTION! *Non-Qualified Investments are not counted in the DOE formula for EFC calculation. See FAFSA

11 Emory University: Cost - $40,000 EFC - $5,000 Need - $35,000 School A: Meets 100% of need. Florida State University: Cost - $10,000 EFC - $5,000 Need - $5,000 School B: Meets only 60% of need = $3,000 ($2,000 short!) What You Actually Pay at Each School: School A: Total Cost - $40,000 School Provides $35,000 Cost to Parents = $5,000 School B: Total Cost - $10,000 School Provides $3,000 EFC - $5,000 + Unmet Need $2,000 = Cost to Parents = $7,000 Step 2: It’s All Packaging!

12 Types Of Aid GRANTS GRANTS SCHOLARSHIPS SCHOLARSHIPS Loans Loans Work/Study Work/Study Sources Of Aid ENDOWMENT FUNDS ENDOWMENT FUNDS Government Government Outside Sources Outside Sources

13 How Much Aid Is Available? College Board

14 60 to 80 Pages Loaded with Information about the Colleges and Universities of Your Choice and Also Ones We Feel Meet Your Student’s Criteria! Customized Student Profile Report Customized Student Profile Report A. Financial Needs Analysis:Survey Family Assets; Review Repositioning Strategies; Indicate the Expected Family Contribution (EFC) in Your Current Situation and Show You how low it could be if Your Assets are Moved into Investments not Counted in the Financial Aid Formula. B. College Aid and Enrollment Information: Everything a Family needs to Know about the Schools Their Student might want to Attend including: Admission Criteria, AP / CLEP Course Acceptance, Contact Information, and the Financial Aid that may be Offered to you from each Individual School.

15 How Do You Apply For Aid? 1. The FAFSA Form MUST be Filed to Receive Any 1. The FAFSA Form MUST be Filed to Receive Any Federal Aid, Even to Get Low Interest Gov’t Loans. Federal Aid, Even to Get Low Interest Gov’t Loans. 2. The CSS (College Scholarship Services) 2. The CSS (College Scholarship Services) Profile Form is Required by most Prestigious Programs. Profile Form is Required by most Prestigious Programs. 3. School’s May Have Their Own Institutional Forms. 3. School’s May Have Their Own Institutional Forms. 4. More Forms Required for Certain Families: 4. More Forms Required for Certain Families: Business/Farm Supplement. Business/Farm Supplement. Divorced/Separated Agreement. Divorced/Separated Agreement.

16 Ex: Page of an Answer Sheet Created in the Customized Student Profile Report FAFSA Filing Service: FAFSA Filing Service: We Will File Your FAFSA Form FREE for All of Your Students Undergraduate Years. This Ensures Prompt and Accurate Filing to get You the most Aid. The Early Bird Gets the Worm!

17 We Help You Negotiate For The Best Possible Package Some Schools Mis-Award. Some Schools Mis-Award. Some Schools Under-Award. Some Schools Under-Award. Some Schools Will Compete with Other Schools. Some Schools Will Compete with Other Schools. What We Do For You: The Three Step Process 1) We Figure out what Your EFC is for Each School and Determine how much Aid They Normally Provide Someone In Your Situation. 2) We Analyze Your Financial Aid Packages And Distinguish True Forms of Financial Aid from Creatively Named Bank Loans. FINANCIAL AID PACKAGES ARE UNREGULATED! 3) We Write Letters to the Schools Requesting the Additional Aid You are Entitled to, Down to the Penny. IF YOU DO NOT KNOW EXACTLY WHAT YOUR EXPECTED TO PAY, AND KNOW HOW TO READ THE AID PACKAGE (OFFER), HOW CAN YOU NEGOTIATE?

18 OR Choose Your Board Test Study Guide: Choose Your Board Test Study Guide: We Provide Your Student with Kaplan’s Premier Edition SAT OR ACT Book with Practice Test CD-Rom

19 Gives Your Student an Edge to Ensure He/She Graduates College in 4 Years or Less. Assists Your Student in Choosing a Major or Field of Study. Professional Resume Builder to Help Your Student get the best Job after College. Job Search and Salary Calculator College and Career Planning Assessment Tool

20 Our Promise To You! 1. Analyze your ability to qualify for college funding and to what extent by computing your Expected Family what extent by computing your Expected FamilyContribution. 2. Develop “college planning” concepts that may lower your out-of-pocket costs by increasing your eligibility for funding. 3. Assume annual responsibility for the completion of the complicated FAFSA form (and, for an additional fee plus charges assessed by CSS, we will complete the Institutional Profile form if required by any college being applied to, as well as the required Profile Registration) and, at no additional cost, complete such other forms as may be required by individual colleges. 4. Provide a “college search” that evaluates colleges you have specified and pinpoints others that offer the curriculum that fits your child’s career goal and a variety of other specified criteria, also identifying those schools that historically have offered a combination of high monetary awards and strong educational values. (continued)

21 Our Promise To You! (Continued) 5. Help you negotiate with colleges that offer you unexpectedly low funding. We obtain information from you to maximize the awards, evaluate the awards, and contact Financial Aid Officers on your behalf to improve those awards when desirable or necessary, in our judgment, while tracking progress. 6. Provide you with SAT/ACT practice study guide along with software produced by the Kaplan Learning Centers and guaranteed to improve test scores. 7. Review with you the “Student Aid Report” you’ll receive from the government for accuracy and help you make any necessary corrections of errors that might otherwise impede funding. 8. Help you complete all Stafford and Plus loan applications if these are awarded to you as part of the college funding package. 9. Provide you with a toll-free customer service number to call with any questions or any problems you may wish to discuss. 10. Provide access to a computer driven, comprehensive college and career planning system.

22 How Much Does All This Cost? Retail Price: $1495 *Seminar Special: $995 *In order to receive the Seminar Special pricing, we require that a family member fill out the seminar evaluation form in its entirety. Then, set up an appointment to meet with us in the next SEVEN days. The form must be turned into the seminar presenter or one of his/her associates before you leave tonight.

23 What's Next? 1. Please Complete the Seminar Evaluation Form. 2. Turn in the Seminar Evaluation Form and Set Up an Appointment Date Today. Time is Limited! We are Here to Help You !!!


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