Planning for college can be a pain. If you’re in a position where you need financial aid, either for yourself or a loved one, then you know how grueling it can be to deal with FAFSA (Free Application for Student Aid).
The FAFSA form is a doozy of a document. With over 130 questions, it can be overwhelming to deal with. Dependency status, assets, income, federal loans, where do you start?
But there are resources you can turn to for help, one of these is a financial advisor.
How Will a Financial Advisor Help with a FAFSA?
Financial advisors deal with all aspects of personal finance, and paying for college is one of the most common services people need help with.
Sure, you can go look for help on the internet, but you don’t get the full experience help you’d get when working with a financial advisor. While it is also free to fill out a FAFSA on your own, getting a little help from a seasoned professional will make sure you get into all the nooks and crannies of the FAFSA application.
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For example, if you aren’t very experienced working with loans, you could miss out on opportunities to save your money and pay for it through other means like scholarships.
High schools and colleges can sometimes offer some financial advice, but they can only do so high-level since they might not know every detail of your finances. Additionally, schools’ financial aid offices can be very backed up with appointments and/or only allow for quick consultations. Sitting down with a financial advisor will allow you to go into more depth and get much more personalized recommendations.
Planning for college will give your children the best chance at success in their educational endeavors. Getting ahead of schedule will make it possible for your child to worry less about the financial part of things so they can focus on their future and areas of study.
Planning on factors like the future cost of education, then identifying pathways that minimize parental costs is what you’ll get when working with a financial advisor. You’ll also get peace of mind when talking about the behemoth that is FAFSA.
Need help finding a financial advisor to help with FAFSA? Our financial advisors at Greater Midwest Financial Group are committed to helping you balance your present and future finances so you can live comfortably and confidently well into the future.
If you’re planning for college, don’t be afraid. There are many avenues you can take to save yourself money, time, and stress during your college planning process.
Greater Midwest Financial Group is a financial advisor firm serving St. Paul, Minneapolis and the wider Twin Cities area. We specialize in wealth management, retirement planning, asset management and other personal finance needs.
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