Parents who understand these rules get the maximum amount of financial aid they are entitled to under the law. Whether you know it or not, you've been contributing to financial aid funds for years. A piece of the federal taxes you pay each April goes straight to federal student aid programs. Part of the state taxes you pay goes directly to state schools and grant programs. And if you make alumni contributions, you're helping someone's son or daughter get a college education.
Many people think that tax loopholes and financial strategy are only for millionaires.
But financial aid strategy is for everyone. Whether you are just getting by or are reasonably well off, you still want to maximize your aid eligibility. Because we do not know the specifics of your financial situation, it is impossible for us to give anything but general advice. Nor can we cover every eventuality. We recommend that you consult with a competent professional about your specific situation before proceeding with a particular strategy.