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College Financial Planning Night

Many Bay Area families are just now getting back on their feet after the dismal economy of the last few years. The loss of a job may have meant dipping into your children’s college savings account to pay the mortgage and meet other living expenses. And now your kids are nearing college age and you’re not sure how you’re going to pay for it. But even if you’ve been steadily employed, you may not have saved enough money for college. It’s time to stop procrastinating and start developing a strategy so your kids can go to college!

Join us for our Free College Financial Planning Night

What: Educational workshop focusing on sophomores, juniors and seniors

When: See Upcoming Dates Here 

Where: Directions Here

Contact: (925) 307-5454

Why you should attend: Since 1978, the cost of attending college in the US has increased 1,120 percent—this is rising significantly faster than inflation. Fortunately, there are resources that many people don’t know about, and Palma Financial Services wants to share some of the strategies that can help you pay for your son’s or daughter’s education.

What you’ll learn:

·   How to increase your college-related tax deductions and tax credits.

·   How to pick colleges that will give you the best financial aid packages.

·   That you can negotiate with your financial aid officer—yes, it’s competitive, but enrollments are down, and colleges are competing for students.

·   How to send your child to an expensive private university for less than a state school. Think about this: many students in the UC system can’t get into the sequential classes they need, so it takes them five or more years to graduate. Maybe a private school in four years is more cost-effective.

·   How to pay for college without relying on 529 plans. Dollars can be withdrawn from 529 Plans to cover “qualified education expenses.” This includes tuition, books, room and board, a laptop, lab fees, etc. While a 529 Plan is tax-deferred, there is a number of reasons why a 529 Plan is not the best choice for saving for your child’s education, including a 10% penalty upon withdrawal of your money. Investing in a 529 Plan may also reduce a student’s eligibility for other forms of financial aid. Read Miguel Palma’s blog about 529 Plans.

·   How to avoid the student loans that have graduates emerging from colleges with an average of more than $30K in debt.

·   Which assets are taken into consideration when the Department of Education calculates your Expected Family Contribution (EFC).

·   How to lower your out-of-pocket costs and get the maximum amount of money from each school.

Strategies for paying for college without putting a strain on your finances and retirement

We’ll also discuss the Free Application for Federal Student Aid (FASFA) form, which can be prepared annually by current and prospective college students (undergraduate and graduate) to determine their eligibility for student financial aid–including Pell Grants, student loans and work study programs.

A first-rate education and the American dream are still attainable!

Call today for a complimentary consultation: 925.307.5454, or sign up for Palma Financial Service’s next college-planning seminar. Due to the popularity of our free workshops, reservations are required.

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