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To Save or Not to Save, That is the Question

October 26th, 2015

Will saving for college affect a family’s ability to receive financial aid for their child’s college education?

According to Ron Lieber, a writer for the New York Times, the greater benefit comes with saving.  Consciously diverting money away from college savings plans out of fear it will limit your ability to collect financial aid is not a sound investment strategy.   In this article, Lieber breaks down the process for applying and receiving financial assistance and explains how the government looks at household income/savings in relation to aid distribution.

Article Published October 23, 2015

Written by:  Ron Lieber

You should save money for college expenses if you possibly can. And if you’re worried about how that savings might hurt your child’s financial aid eligibility, then you’re thinking about it wrong.

That ought to go without saying, but there is a persistent and mostly mistaken belief that goes something like this: If we save, the colleges will just take it. And if we don’t, we will qualify for more help.

Read more at NY Times >>

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