As fall arrives and clients' children head back to school, the college application season is about to begin—a high-stress, high-stakes period. Education cost planning emerges as a crucial service during this time, as identified by a recent study from Dimensional Fund Advisors.
One crucial aspect of education cost planning involves effectively utilizing 529 plans and understanding the Free Application for Federal Student Aid (FAFSA) process. Kyle Deal, CFP®, Financial Life Advisor, underscores the importance of early FAFSA submission, even if clients are unsure of government aid eligibility. Early filing maximizes opportunities for scholarships and aid awards from educational institutions, easing the financial burden of college expenses.