Forbes recently collected a series of articles written by William Baldwin, former editor of the Forbes Magazine, into an extremely valuable “guide” to college finance, available free-of-charge on the Forbes website.
Subdivided into 21 separate chapters or articles, Paying For College tackles everything from grandparents and mortgages to 529 savings plans and in-state tuition. The advice is simple and direct with lots of concrete examples designed to illustrate strategies for preserving “wealth” in the face of escalating college costs.
“If you are the parent of a college-bound child—of any age—you should be thinking right now about how your family will finance the degree,” advises Baldwin, who writes about investment strategies. “The difference between doing it right and not doing it right could easily be worth between $10,000 and $200,000.”
It doesn’t matter whether you qualify for financial aid or don’t expect a dime from the federal government—this guide provides a quick survey of the “opportunities and pitfalls” that lie on the road to higher education.
It explains aid formulas, illustrates how relatively prosperous families can actually receive need-based aid, and offers tax strategies that apply to families regardless of income.
If you can’t afford or don’t really think you need the services of a financial planner, but want to make wise decisions about financing your child’s education, check out Paying For College: A 21-Step Guide to Preserving Wealth.