You might think that filing a FAFSA is a waste of time because your family earns too much to qualify for financial aid. Think again. There are many tactics to save for college without being penalized.
For example, did you know that students' savings and assets are figured into the FAFSA financial aid equations at a higher rate then parents' savings and assets? 20% compared to only 5.6%. That's a big difference. In addition, things like your parents' retirement plans and homes don't count. The point? It is better for your parents to save money for you instead of saving money in your own name.
There are many other techniques you can use to optimize your savings for college. To learn more, check out the special report from WCCO news in the Twin Cities here.
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