Rather than the brighter financial future most parents anticipated, college has left many disenchanted with their student’s college experience, the value of their education, depleted retirement accounts, and generations buried in debt.
As the cost of higher education continues to rise, parents face the daunting task of navigating the ever-changing maze of critical college decisions. Students can no longer assume that simply getting accepted into the college of their choice guarantees a brighter financial future. Today’s new college realities require a more strategic and informed approach to decision-making.
Making smart, informed college decisions have become more difficult since the wealth of information is overwhelming, and often contradictory or misleading … and fail to provide essential questions every student and parent needs to ask to avoid the latest college-related problems.
LFE’s goals when creating its innovative new 3-Step Plan for College & Retirement – the first to utilize cutting-edge SCORM-LMS technology – and our engaging ‘Brighter U’ digital tools, were two-fold:
1) To provide the information that’s missing on college sites today to help students graduate quicker, borrow less,
identify the latest college alternatives, and be better prepared for the job market.
2) Deliver a proven ‘Roadmap’ to protect the financial resources of the parents and grandparents who support them.
The following illustrates just a few of the reasons this education is so needed today.
“91% of colleges mislead parents on costs, fees, and financial aid, depleting future savings by tens of thousands.”
– U.S. GAO
“75% of parents state the high cost of college impacts their ability to save for retirement.”
– Fidelity Study
“After spending thousands on college, 50% of the graduates from 30% of colleges earn less than high school grads.”
– Georgetown University Study
Parents and grandparents quickly learn costly mistakes to avoid, specific strategies to save thousands on college, how to effectively set limits and discuss expectations with students, and minimize the impact college will have on their long-term financial goals.
Upon completion of the College Tools, parents and grandparents will have specific financial decisions to discuss with an Advisor or Plan Provider. These experts can then offer tax and financial strategies, as well as alternatives to consider to protect their clients’ retirement assets.