College Funding Strategies |
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College Funding Strategies Proudly Serving Families in Northeast Wisconsin |
Business-owner whose child MAY QUALIFY for financial aid
Family Situation
Goals
Maximize financial aid eligibility, minimize taxes, and develop cash flow strategies to allow parents to pay for
100% of education at a public university.
Solutions
Results
Family Situation
- Annual Business Income of $57,000
- Assets = $83,000 home equity, $91,000 Retirement Accounts, $32,000 in savings/checking, Business
equity of $220,000 - Consumer debt of $8,000
- Student income of $9,500 and Savings Acct worth $4600
Goals
Maximize financial aid eligibility, minimize taxes, and develop cash flow strategies to allow parents to pay for
100% of education at a public university.
Solutions
- Specific assets were repositioned
- Tax strategies were utilized to lower business income and allow the student to maximize eligibility for
financial aid. - Retirement strategies were utilized to reduce taxable income.
Results
- An increase in financial aid eligibility at their public university was increased by $7,077 per year for a
total savings of $28,308. - A hands on student profile and assessment was completed to ensure the student was starting out with
the best possible chance of hitting their major and career choice. By utilizing these techniques we
believe we saved the family another year of college (5th year) and ultimately saved them an additional
$15,000.
| Case Studies - Category 1 |
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| Strategies You Can Apply Take advantage of the Employment Expense Allowance. However you can only do this if both parents have earned income. Consider hiring your non-working spouse in the family business. |