NewFed’s Brian Damico Dive’s deep into Ryan Mcsheffrey of Mill City Financial Partners and Scott Murphy of Newfed Mortgage:

EFC or Expected Family Contribution calculated by:

Assessable assets

Income

Re-managing your assets can add to your financial aid benefits

How far in advance should be planning for your child’s college education?

Which methodology is the school using to calculate tuition?

Institutional – Most Privates Schools

Federal – Most Public schools

How can a home equity line of credit play into things?

5:1 arm

Home equity line

15-30 year mortgage

All of these reduce EFC

Merit based vs need based aid

Reach out to Ryan with any question 6173129820 [email protected] Mill City Financial Partners

 

 

 

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