Virtually everyone in the USA knows how expensive the soaring college costs are and how much pressure they put on the average family.   The process of applying for financial aid is draining on the parents, the student and also takes an enormous amount of resources for the colleges and universities.

MC2 Wealth Management hosted this seminar to show parents a few of the tricks that can be used to obtain more financial aid.  They also demonstrated how applying to a more expensive university can sometimes result in a lower out-of-pocket payment for the parents.

One of the most interesting aspects of the presentation was that the manner of calculating the Expected Family Contribution (EFC) was susceptible to manipulation by the manner in which you hold your assets.  There are many ways to plan for college and the hosts were able to demonstrate how getting an early start on the planning process allows you to get the best financial aid resources.

Perhaps the most useful part of the presentation was the concept of negotiating with the college.  It seems that though the schools will give you a commitment for a certain amount of financial aid, that the student always has the possibility of requesting additional support.  Though the schools do not want it perceived that they negotiate”, what they really do is evaluate” the needs of the student and make an adjustment” if needed to get that child to attend the school.

The key takeaway is that early planning is the key.  Get the facts, start understanding the system early, and start preparing for the enormous expense that can result, especially with poor planning.

It is always interesting watching parents on a field trip. Presumably the reason that you accompany your child is that you would like to enjoy the opportunity to spend time together and experience that adventure together. I went with my son’s 4^th grade class to the Shedd Aquarium today and supervised him and three of his friends.

But yet, when I listened to some of the parents waiting to board the school buses and as they sit among the noisy 4^th graders, you would think that this experience is akin to a torture chamber. Seriously. You do not have to volunteer for this duty if you hate it that much.

So with that backdrop, here are some tips that you can follow next time you agree to chaperone a trip (and some for parents who do not accompany their child):

1. SMILE—this is supposed to be fun.  You are not an armed guard at a correctional facility.  Enjoy the time with your child and his/her friends (and if you cannot enjoy it, at least pretend for your child’s sake).
2. SPEND TIME TOGETHER—Far be it from me to tell anyone not to check email or look at their phone but some of the parents on the trip barely engaged with their own child, much less any of the other children in the group
3. BUT GIVE THEM THEIR SPACE—Some parents hovered over their children and forced” their children to sit with them on the bus instead of letting them hang out with their friends.
4. EXPLORE—Kids love looking around.  Field trips do NOT need a lot of rules.  Let the kids enjoy the experience and have some independence as they look around.  They do not need to have a leash around them.
5. RELAX—You need to let yourself enjoy it as well.  So yeah, it will be noisy.  But you should have known that.  They are 4^th graders.  On a school bus.  On the way to a field trip.  No school.  This is not a library.  As long as they are not hurting each other, let it go.
6. ENJOY—You took a day away from everything else you could have been doing at home or at work.  Take the time to enjoy it and learn something for yourself.  Get to know some of your children’s friends.  Get to know some of the other parents.  Get to know your child’s teacher.  You will learn more from that one day than hearing 50 stories from your child.
7. SMILE—Again!!!

If you don’t like these rules, do your child a favor and stay home!! J