Recent headlines related to the college admissions bribery scandal have certainly struck a nerve, particularly with parents who have worked hard over many years to plan and save for the next phase of their children’s education. Although some may not be shocked that something like this could happen, it’s still unnerving to see it unfold in the public eye. I would know. As a parent to two very different teenage twins on the verge of venturing off to college, I am often asked questions like, “How are you juggling all of this?” or “Did you save enough for both of them?” Or even “What are you doing to make sure your kids get into the colleges of their choice?”
My answer for most of these questions? With a little bit of stress and some professional advice.
That being said, I am fortunate enough to have the luxury in my profession to be surrounded by many incredible financial planners who have great tips for funding an education and I have no hesitation when it comes to gathering all of the information that I can. My own background also gives me a leg up, perhaps, on the latest information on tax breaks, saving options and more. For any parent facing the uphill climb of education funding, here are a few tips I’d like to share with you: