December 26, 2023

Navigating College Costs as a Single Parent with Robert Farrington

33 minutes

Robert Farrington, founder of The College Investor, is a student loan and financial aid expert. He guides individuals in making wise college decisions and assists families in managing the challenges of student loan debt. In this episode of Financially Ever After Widowhood, Stacy interviews Robert about how single parents can best save for and pay for college without compromising their own financial security. They discuss 529 savings plans, different types of student loans, as well as strategies to lower college costs. He also shares why it's important for parents to prioritize their own retirement savings first before saving for college.

Take care of your own financial stability first before worrying about college savings - there are lots of ways to pay for college later.

529 plans allow tax-free savings and growth for education expenses. Most states offer tax deductions as well. Federal student loans typically have better terms and options than private loans.

Never borrow more than your expected first year salary after graduating.

Apply for scholarships and grants. Negotiate with the school's financial aid office.

Consider community college for the first 1-2 years then transfer to save money.

Take AP classes in high school to enter college with credits already completed.

Find colleges with good financial aid packages to lower the overall cost.

Have open conversations with your child early about money and college expectations.

Resources

Robert Farrington on the Web | The College Investor Website | Instagram | X | Email

Tuition Fit

Saving for College

FAFSA

Stacy Francis on LinkedIn | X(Twitter)

Email: [email protected]

FrancisFinancial.com

Reach out to receive a complimentary consultation! Contact Francis Financial at +212-374-9008 or visit Francis Financial today!

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By Stacy Francis

4.8

3939 ratings