You can counsel clients to teach their children fiscal responsibility and offer guidance early in the college-planning process, when there is time to implement strategies that have the potential for the biggest financial benefits.

Your clients do not have too much or earn too much to follow these strategies.

Most families do not realize how early they can—and should—take deliberate steps to position their students to combat skyrocketing college costs. The biggest, most expensive mistake families make is waiting.

These strategies go beyond 529s and other financial products. They offer the long-term benefit of empowering students with “skin in the game” and enhance admissions success. 

Students who use their own efforts to contribute to the cost of college, receive better internships, awards, self-esteem and jobs.

Plan Ahead To Pay Less

Share the following with college-bound families so they can combat skyrocketing college costs and empower their kids with “skin in the game.” These strategies are particularly well suited to families that don’t qualify for need-based aid.

Pursue Private Merit Scholarships ASAP!

Students can win private merit scholarships—money for college based on achievement—starting in middle school and continuing through graduate school.  

Choose Extra-Curricular Activities Wisely

Encourage students to engage in extracurricular activities revolving around their passions. Quality of involvement is more important than quantity.  

Suggest that families look for opportunities to demonstrate commitment, contribution and leadership. There are many private merit scholarships that reward these attributes.

Pinpoint The College Major

Changing college majors can be expensive. It may require another year of college (and college costs) or force the student to transfer colleges. Encourage students to gain hands-on experience through internships, for example, in areas of interest to secure as much “real life” exposure to career goals as possible.

Study Smart

Recommend that students take the most rigorous load that they can excel in. Support the idea of working with academic tutors as necessary.

Students who take Advanced Placement and online classes can sometimes receive college credit.