Three Kinds of Families that Need Proper College Funding | Blog

Proper college funding is vital for all families desiring to have their children get a higher education.  The levels of need for this funding fall into three categories:

C1 Families With Total Financial Need

Families that are in this category are going to get some kind of aid, no matter which college their child has been admitted to.  However, its important that these families understand all the rules and paperwork involved in the aid application process.

Picking the correct school, both educationally and financially is vital.

The paperwork must be filled out 100% accurately.

Forms, applications and other paperwork must be filed on time.

The right college must be found, one that will provide the most funding, with a maximum of free money and a minimum of loans.

C2 Families With Partial Financial Need

The majority of the people we see fall into this category.  The amount of money these families will be able to obtain is dependent on many factors.

What school they pick

How their assets are positioned

How their income is positioned

How their child is positioned as a student

These families could get a lot of money to help them put their child through college or they could get next to nothing.  This is the situation for the majority of people.

C3 Families Who Make Too Much Money for Need Based Financial Aid

These families will never get need-based financial aid. However, they still must go through the application process to get ‘merit based money.

They need to be concerned with paying for college in the most cost and tax-efficient way

Educated and experienced financial planning advice becomes the key to funding higher education

Knowledge of colleges and their ‘merit based funding programs is a must.

In truth, there is an additional way to define the types of families that need help with funding and planning their childrens college education – those who either think they have all the information they need or dont know help is available and those who find and use a comprehensive college financial planning and funding advisor.

The families that pay the least out of pocket are the ones who have found a knowledgeable advisor to help them understand and take advantage of the funding process.

To quote Confucius, True wisdom is knowing what you don’t know.  And in this case knowing what you dont know, can lead you to seek guidance to get your child into the right college with the best funding.

Never assume you will not qualify for financial aid to help you see your children through college.  Also, never think your finances cannot be arranged to pay for a higher education for your kids.

Information, guidance and planning are all that you need to make the dream of an affordable college education for your children into a reality.


To learn more about funding your childs college education, call us or contact us online to get a free no-obligation consultation
or join us at our next College Funding Seminar.

Contact Palma Financial Service
Phone: (925) 307-5454
Fax: (925) 828-4991