I'm extremely irritated so I'll be quick with this post.
I see why so many parents never even bother
to apply for financial aid! 53% of all eligible families never even
bother to apply, according to the College Board.
Why? They're being told
that they make too much money by the so-called
experts - this is why I call 'em "schmexperts"!
Check out this clip. Some well-intentioned "friend"
of mine sent me a video from Kiplingers about
college financial aid.
This woman, Janet Bodnar, does a decent job
explaining why you may want to save in your
name, not your child's, but then she lets loose a
colossal, "gi-normous" 100% false statement:
If you make a lot of money, like more than a
hundred grand, you probably won't qualify for
aid!
Sweet mother of all things holy! How ridiculous is
she?
This video appeared in an article on MSN.com.
The article talks about how Harvard and Yale
are giving away money for parents making up
to 180K and 200K, respectively!!!
Hello?
This is what College Pete and I are talking about
when we tell you, don't listen to the
"schmexperts," listen to US. Our advice is
frequently 180 degrees opposite to your
typical trusted advisors, CPAs, guidance
counselors, BRACE Advisors, and now,
Kiplingers!
Our advice: EVERYONE should apply for
financial aid! Case in point - you can go to
Harvard (a $50,000 per year school,) for
$18,000!
OK, I'm done with my rant.
Later.
- Andy
P.S. If you want to watch this video, here's
the link to Weston's article:
http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/GraduateFromHarvardDebtFree.aspx
(You may have to cut/paste all of the code intoyour browser - sometimes these links don't work.)
P.P.S. I don't want you to think that I have anything against Liz Pulliam Weston. I happen to think she's a solid journalist and find her columns to be on point, without exception.
