CHICAGO, IL – March 30, 2013 - Cliff Morgan, President of US College Planning, a college financial services firm, recently published an article on his website (http://www.USCollegePlanning.com) noting the dramatic increase in student loan debt. The article, titled “How to Pay Less for College: Don’t Mortgage Your Future through Student Loan Debt” offers advice to help students and their families pay less for college.

Cliff Morgan writes, “If it seems like student loans have been discussed in the media more and more lately, it’s not your imagination.”

US College Planning is an independent educational consulting firm that helps parents and students navigate the college process, learn how to pay for college and develop a college savings plan. The entire article can be found at http://www.uscollegeplanning.com/articles/how-to-pay-less-for-college-dont-mortgage-your-future-through-student-loan-debt.php

To learn more about US College Planning, please visit http://www.USCollegePlanning.com

About Cliff Morgan:

Cliff Morgan is a nationally sought after speaker and author.  He specializes in working with families during the college years.  His expertise has helped families across the United States save tens of thousands of dollars off the college bill while helping students enter the schools of their dreams.  Cliff is also a personal mentor to many financial planners around the US.

Mr. Morgan focuses on helping his clients save significant amounts off the college sticker price thus allowing families to maintain their current lifestyle and save for retirement at the same time.

He was born in Rhode Island and raised in the mountains of New Hampshire.  He attended the University of New Hampshire and graduated from Chicago’s Moody Bible Institute with a degree in Church Theology. Cliff has worked with Strategic Wealth Advisory Group and has been a as a trusted advisor for the past nine years. He is passionate about serving people by helping them and their families to build and achieve their short and long term financial goals. Cliff is married to his wife Amy and they have 2 children; William and Charlotte.  He is actively involved in his local church, plays soccer recreationally, participates in a bicycling club and is an avid skier. Cliff and his family reside in Chesterton, Indiana.

Cliff’s accomplishments include:

• Founder and Partner of US College Planning & Strategic Wealth Advisory Group
• Author of the bestselling book “WIN”
• Member of the American College Funding Association
• Working as a Wealth Strategist in the financial planning industry since 2003
• MDRT – The Premier Association of Financial Professionals
• 2010 Named to by Chicago Magazine Five Star award for wealth managers
• Member of the National Association of College Admission Counseling
• A nationally recognized speaker on wealth accumulation and preservation
• Named to America’s Premiere Experts as a wealth strategist
• Member of the National Institute of Certified College Planners
• Named to Chicago Magazine Five Star award for wealth managers for 2010 & 2011

These realities, and the recent media coverage, has caused many high school and college students to fear whether they are taking on too much debt. A recent LA Times article explains the findings of a recent survey conducted by the Princeton Review:

High school seniors are more worried about burdensome student-loan debt than about getting into the college of their dreams.[…]

Thirty-eight percent of students surveyed listed “level of debt incurred to pay for the degree” as their primary concern.

That edged out the top answer the previous three years, which was getting into their preferred school but not being able to afford it or get enough financial aid. This year, 33% listed that as their biggest worry.

The high percentage for the two answers, both financially related, demonstrate how significantly thinking has changed among the college-bound.

In 2009, the top concern was simply about getting accepted to a first-choice school.

That seems to be almost an afterthought today. Just 1 in 5 students — 22% — ranked that as their biggest fear.

While it is unfortunate that financial concerns have become a more pressing issue than even getting into a great school, the reality is that these students are wise to be concerned. It’s very easy for students to end up with a huge amount of student loan debt upon graduation—leading to monthly loan payments that are often more expensive than a car payment or even a mortgage! Worse, many students are currently struggling to find work in this still-weak economy, making repaying loans nearly impossible. Those that are able to find work still often find themselves living with their parents and foregoing purchases (such as a new car) in order to make their loan payments.

It’s a grim state of affairs. And many activists and politicians have begun looking for solutions. But amazingly, there’s another angle to this issue that is barely discussed in the media: what if college wasn’t so expensive?

At US College Planning, that’s our approach. We work to make college less expensive for students and families. We do this through little-known strategies that lead to higher scholarships, better financial aid packages, and ultimately less debt. The end result is that students are able to attend top-notch colleges and universities without mortgaging their future, or draining their parents’ retirement account.

If you’d like to learn more, we would love to help. Please contact us today!

CHICAGO, IL – March 24, 2013 - Cliff Morgan, President of US College Planning, a college financial services firm, recently published a blog on his website (http://www.USCollegePlanning.com) offering advice to high school students. The blog, titled “College Planning: Where to Begin” offers practical tips for students.

Cliff Morgan writes, “If you find yourself overwhelmed, it’s a good idea to simplify things. And one of the best ways to simplify is to just… make a list. Identify your priorities and get to work.”

US College Planning is an independent educational consulting firm that helps parents and students navigate the college process, learn how to pay for college and develop a college savings plan. The entire blog can be found at http://www.uscollegeplanning.com/blog/college-planning-where-to-begin.php

To learn more about US College Planning, please visit http://www.USCollegePlanning.com

About Cliff Morgan:

Cliff Morgan is a nationally sought after speaker and author.  He specializes in working with families during the college years.  His expertise has helped families across the United States save tens of thousands of dollars off the college bill while helping students enter the schools of their dreams.  Cliff is also a personal mentor to many financial planners around the US.

Mr. Morgan focuses on helping his clients save significant amounts off the college sticker price thus allowing families to maintain their current lifestyle and save for retirement at the same time.

He was born in Rhode Island and raised in the mountains of New Hampshire.  He attended the University of New Hampshire and graduated from Chicago’s Moody Bible Institute with a degree in Church Theology. Cliff has worked with Strategic Wealth Advisory Group and has been a as a trusted advisor for the past nine years. He is passionate about serving people by helping them and their families to build and achieve their short and long term financial goals. Cliff is married to his wife Amy and they have 2 children; William and Charlotte.  He is actively involved in his local church, plays soccer recreationally, participates in a bicycling club and is an avid skier. Cliff and his family reside in Chesterton, Indiana.

Cliff’s accomplishments include:

• Founder and Partner of US College Planning & Strategic Wealth Advisory Group
• Author of the bestselling book “WIN”
• Member of the American College Funding Association
• Working as a Wealth Strategist in the financial planning industry since 2003
• MDRT – The Premier Association of Financial Professionals
• 2010 Named to by Chicago Magazine Five Star award for wealth managers
• Member of the National Association of College Admission Counseling
• A nationally recognized speaker on wealth accumulation and preservation
• Named to America’s Premiere Experts as a wealth strategist
• Member of the National Institute of Certified College Planners
• Named to Chicago Magazine Five Star award for wealth managers for 2010 & 2011

If you find yourself overwhelmed, it’s a good idea to simplify things. And one of the best ways to simplify is to just… make a list. Identify your priorities and get to work. To that end, a recent article in South Florida’s Sun-Sentinel offers three helpful places to begin preparing for the college application process:

Begin the search. Students and their parents should compile a list of colleges in which they might be interested. The College Board’s BigFuture.org, which houses data on thousands of colleges as well as financial aid options and other important information, is a good place to start.

Decide when to take the SAT. There are three opportunities to take the SAT this spring: March 9, May 4 and June 1. Many students choose to take the SAT during their junior year, so they have the opportunity to get their applications in earlier as seniors. Students who think that the SAT and college applications are beyond their reach financially should talk to their guidance counselor about applying for an SAT Fee Waiver, which covers the cost of two SAT administrations, two SAT Subject Test administrations, extra score sends and college application fees at participating colleges.

Create a study plan. There is no shortcut to performing well on the SAT. Students who perform best on the exam are those who take rigorous courses and complete a core curriculum in school. But there is value in becoming familiar with question format and practicing. The College Board provides free and low-cost resources on the SAT website, including practice questions, detailed answer explanations, a full-length exam, SAT Online Course and the Official SAT Study Guide. Students will also find recommendations on test strategy, personalized study plans and tips for test day.

Of course, there’s much more to it than that—but these steps are a good starting point for a high school student. If you’d like to learn more, or if you’d like some help preparing your own plan for choosing (and paying for) your college, please get in touch with us today!

CHICAGO, IL – March 1, 2013 - Cliff Morgan, President of US College Planning, a college financial services firm, recently published an article on his website (http://www.USCollegePlanning.com) discussing student loan debt. The article, titled “Student Loan Debt Can be Suffocating: Is Relief on the Way?” notes that student loan debt is fast becoming a crisis.

Cliff Morgan writes, “Many students end up borrowing far more than they should. Worse, because of the down economy, millions of these students aren’t able to get a job, and therefore aren’t able to repay their debt.”

US College Planning is an independent educational consulting firm that helps parents and students navigate the college process, learn how to pay for college and develop a college savings plan. The entire article can be found at http://www.uscollegeplanning.com/articles/student-loan-debt-can-be-suffocating-is-relief-on-the-way.php.

To learn more about US College Planning, please visit http://www.USCollegePlanning.com

About Cliff Morgan:

Cliff Morgan is a nationally sought after speaker and author.  He specializes in working with families during the college years.  His expertise has helped families across the United States save tens of thousands of dollars off the college bill while helping students enter the schools of their dreams.  Cliff is also a personal mentor to many financial planners around the US.

Mr. Morgan focuses on helping his clients save significant amounts off the college sticker price thus allowing families to maintain their current lifestyle and save for retirement at the same time.

He was born in Rhode Island and raised in the mountains of New Hampshire.  He attended the University of New Hampshire and graduated from Chicago’s Moody Bible Institute with a degree in Church Theology. Cliff has worked with Strategic Wealth Advisory Group and has been a as a trusted advisor for the past nine years. He is passionate about serving people by helping them and their families to build and achieve their short and long term financial goals. Cliff is married to his wife Amy and they have 2 children; William and Charlotte.  He is actively involved in his local church, plays soccer recreationally, participates in a bicycling club and is an avid skier. Cliff and his family reside in Chesterton, Indiana.

Cliff’s accomplishments include:

• Founder and Partner of US College Planning & Strategic Wealth Advisory Group
• Author of the bestselling book “WIN”
• Member of the American College Funding Association
• Working as a Wealth Strategist in the financial planning industry since 2003
• MDRT – The Premier Association of Financial Professionals
• 2010 Named to by Chicago Magazine Five Star award for wealth managers
• Member of the National Association of College Admission Counseling
• A nationally recognized speaker on wealth accumulation and preservation
• Named to America’s Premiere Experts as a wealth strategist
• Member of the National Institute of Certified College Planners
• Named to Chicago Magazine Five Star award for wealth managers for 2010 & 2011

Now, in principle, student loans can be very helpful. They give students who may otherwise not be able to afford higher education an opportunity to do so. It’s an investment that student and their family makes, and they are able to repay that investment once the student achieves his or her degree and obtains a job.

Unfortunately, the process doesn’t work that well in practice. For one thing, many students end up borrowing far more than they should. Worse, because of the down economy, millions of these students aren’t able to get a job, and therefore aren’t able to repay their debt. Now, as the crisis continues to grow, government authorities are beginning to pay attention. Marketwatch reports:

The Consumer Financial Protection Bureau last week said it’s seeking proposals on ways to make debt repayments more manageable for borrowers of private student loans — especially those who encounter financial hardships. In a call with reporters on Thursday, Rohit Chopra, the CFPB’s student-loan ombudsman, said private student-loan borrowers face bigger challenges than those with federal loans because they typically don’t have flexible repayment options, such as “income-based repayment,” where borrowers make payments based on their income rather than the amount they owe, and “extended repayment,” which lowers the monthly payment by lengthening the loan’s duration.

Currently, repayment options for private-loan borrowers who fall into hardship vary by lender — though they tend to be fewer and more limited than what federal loans offer.

The bureau is also exploring other options, such as letting private loan borrowers refinance their loans. That would allow them to take advantage of low market rates, which in turn would reduce their monthly payment. Comments from lenders, colleges and the public are due by April 8, after which the bureau will announce recommendations for altering private loans.

The new initiative comes as more students take on this debt — and growing numbers of them fall behind on payments. Students who graduated with a Bachelor’s degree last spring left school with roughly $28,700 in student debt, up 31% from five years ago, according to FinAid.org, which tracks student-loan debt. Meanwhile, 11% of student loans were 90 days or more past due in the third quarter, up from 8.8% a year prior — and marking the highest level of student loan delinquencies since at least 2003, according to the Federal Reserve Bank of New York.

Obviously this is good news for those that have a high level of student loan debt.

But clearly, the best situation for students and families is to avoid going into debt in the first place. And that is where we can help. The truth is that thousands of students and their families are paying far more for college than they should. If you’d like to learn more, or if you’re ready to create a plan to pay less for college and avoid student loan debt, please get in touch with us today!

CHICAGO, IL – February 22, 2013, - Cliff Morgan, President of US College Planning, a college financial services firm, recently published a blog on his website (http://www.USCollegePlanning.com) discussing financial aid. The blog, titled “College Planning 101: Four Keys to a Stronger Financial Aid Appeals Letter” offers specific tips to help students and their family receive higher financial aid awards.

Cliff Morgan writes, “The truth is that, with the right strategy, you can often earn tens of thousands of dollars in additional financial aid beyond the original offer.”

US College Planning is an independent educational consulting firm that helps parents and students navigate the college process, learn how to pay for college and develop a college savings plan. The entire blog can be found at http://www.uscollegeplanning.com/blog/college-planning-101-four-keys-to-a-stronger-financial-aid-appeals-letter.php

To learn more about US College Planning, please visit http://www.USCollegePlanning.com

About Cliff Morgan:

Cliff Morgan is a nationally sought after speaker and author.  He specializes in working with families during the college years.  His expertise has helped families across the United States save tens of thousands of dollars off the college bill while helping students enter the schools of their dreams.  Cliff is also a personal mentor to many financial planners around the US.

Mr. Morgan focuses on helping his clients save significant amounts off the college sticker price thus allowing families to maintain their current lifestyle and save for retirement at the same time.

He was born in Rhode Island and raised in the mountains of New Hampshire.  He attended the University of New Hampshire and graduated from Chicago’s Moody Bible Institute with a degree in Church Theology. Cliff has worked with Strategic Wealth Advisory Group and has been a as a trusted advisor for the past nine years. He is passionate about serving people by helping them and their families to build and achieve their short and long term financial goals. Cliff is married to his wife Amy and they have 2 children; William and Charlotte.  He is actively involved in his local church, plays soccer recreationally, participates in a bicycling club and is an avid skier. Cliff and his family reside in Chesterton, Indiana.

Cliff’s accomplishments include:

• Founder and Partner of US College Planning & Strategic Wealth Advisory Group
• Author of the bestselling book “WIN”
• Member of the American College Funding Association
• Working as a Wealth Strategist in the financial planning industry since 2003
• MDRT – The Premier Association of Financial Professionals
• 2010 Named to by Chicago Magazine Five Star award for wealth managers
• Member of the National Association of College Admission Counseling
• A nationally recognized speaker on wealth accumulation and preservation
• Named to America’s Premiere Experts as a wealth strategist
• Member of the National Institute of Certified College Planners
• Named to Chicago Magazine Five Star award for wealth managers for 2010 & 2011

One of these key principles which many people don’t recognize is that the process of securing financial aid is a negotiation. Colleges don’t want you to know this, of course. They want you to think that whatever they offer you in their award letter is final—their best offer. The truth is that, with the right strategy, you can often earn tens of thousands of dollars in additional financial aid beyond the original offer.

Today, we’re going to take a few moments to discuss the process of appealing your financial aid award. It’s a process that can save you a significant amount of money, so pay attention! Below are four principles to keep in mind while writing your letter of appeal:

Start by following directions. College financial aid departments are like any other organization—they have a process and a procedure that must be followed. The school will provide instructions for appealing your award amount, so make sure you follow them closely. Otherwise your appeal may never be seriously considered.

Provide a “rationale” for increased aid. One of the best ways to receive additional aid is to demonstrate something that you’ve done to earn additional aid. For instance, if your grades have improved since your original application, or if you re-took the SAT and got a higher score, emphasize these details. If you can show that you’re now a better fit for the school, there’s a great chance you’ll receive a higher award amount.

Create competition. If you’re considering several different possible schools, let each of them know it. Tell them that the amount of aid you receive may be a determining factor. This bit of “encouragement” is often enough to prompt a better offer.

Stay engaged. Don’t mail the letter and then forget about it. Call after a few days to follow up. If you don’t get an answer, continue to stay on top of your aid counselor to ensure that your appeal isn’t overlooked.

The right financial aid appeals strategy can literally save you tens of thousands of dollars over the course of your college career. If you’d like to learn more, please get in touch with us today!

CHICAGO, IL – January 31, 2013 – Cliff Morgan, President of US College Planning, a college financial services firm, recently published an article on his website (http://www.USCollegePlanning.com) discussing paying for college. The article, titled “Paying for College: In Case You Haven’t Noticed, It’s Become a Crisis” offers practical tips to help students and their families save money.

Cliff Morgan writes, “The bad news is that college costs are skyrocketing. But the good news is that there is a lot a family or a student can do to keep their own costs down.”

US College Planning is an independent educational consulting firm that helps parents and students navigate the college process, learn how to pay for college and develop a college savings plan. The entire article can be found at http://www.uscollegeplanning.com/articles/paying-for-college-in-case-you-havent-noticed-its-become-a-crisis.php

To learn more about US College Planning, please visit http://www.USCollegePlanning.com

About Cliff Morgan:

Cliff Morgan is a nationally sought after speaker and author.  He specializes in working with families during the college years.  His expertise has helped families across the United States save tens of thousands of dollars off the college bill while helping students enter the schools of their dreams.  Cliff is also a personal mentor to many financial planners around the US.

Mr. Morgan focuses on helping his clients save significant amounts off the college sticker price thus allowing families to maintain their current lifestyle and save for retirement at the same time.

He was born in Rhode Island and raised in the mountains of New Hampshire.  He attended the University of New Hampshire and graduated from Chicago’s Moody Bible Institute with a degree in Church Theology. Cliff has worked with Strategic Wealth Advisory Group and has been a as a trusted advisor for the past nine years. He is passionate about serving people by helping them and their families to build and achieve their short and long term financial goals. Cliff is married to his wife Amy and they have 2 children; William and Charlotte.  He is actively involved in his local church, plays soccer recreationally, participates in a bicycling club and is an avid skier. Cliff and his family reside in Chesterton, Indiana.

Cliff’s accomplishments include:

• Founder and Partner of US College Planning & Strategic Wealth Advisory Group
• Author of the bestselling book “WIN”
• Member of the American College Funding Association
• Working as a Wealth Strategist in the financial planning industry since 2003
• MDRT – The Premier Association of Financial Professionals
• 2010 Named to by Chicago Magazine Five Star award for wealth managers
• Member of the National Association of College Admission Counseling
• A nationally recognized speaker on wealth accumulation and preservation
• Named to America’s Premiere Experts as a wealth strategist
• Member of the National Institute of Certified College Planners
• Named to Chicago Magazine Five Star award for wealth managers for 2010 & 2011

The good news is that the issue is beginning to receive significant attention from the media—highlighting the problem and hopefully prompting the powers-that-be to work out a solution.

This month, Forbes published an article addressing this problem. Below is an excerpt:

Is this system nuts, or what? College has gotten insanely expensive, and the tuition aid formulas have gotten insanely complicated. But if you don’t figure them out you will be crushed.

Poor, brilliant students get a free ride at Harvard or Princeton. Rich families don’t care about costs. Everyone else–and that would be about 90% of America–has a problem.

The fanciest colleges cost $55,000 a year. Suppose you have three youngsters who will be attending a decade from now. If prices climb as they have over the past decade, you’ll spend $990,000. This has to come out of your take-home pay. So go ask your boss for a $1.5 million bonus.

If that isn’t feasible, learn how to work the system. Below, we outline a dozen techniques that families use to make bachelor’s degrees and graduate degrees more affordable.

Some families find a way to get a price break that isn’t contingent on income. Some outsmart the aid formulas, which, like the tax code, are full of traps for the unwary and rich in opportunities for the well-informed. Did you know that if your child is applying to certain elite schools, including Dartmouth and Duke, you should use extra cash to pay down your mortgage?

The entire article is very helpful and worth reading. Below are three of the strategies they recommend:

Accelerated Learning

Stockpile Advanced Placement credits from high school, do some summer courses and keep a heavy course load at college: You may be able to graduate in three years. American University, Bates College and the University of Massachusetts at Amherst are among the schools where a fast-track degree is very doable.

Employer Aid

Adam Reynolds, a psychotherapist at Mount Sinai Hospital in New York City, got a master’s in social work two years ago at Hunter College. It was a four-way win for him: The city gave him a grant to cover the tuition, the aid was not taxable, he got time off for class work, and Mount Sinai was so impressed with the results that it promoted him into a supervisory position.

Bunching

All three aid formulas give a break to families with more than one child attending college at once. Suppose, for example, that you have income of $160,000 and assets of $900,000 and the formula dictates that you can afford to spend $80,000 a year on college. If you have one student in a $55,000 school you get nothing. If you have two you get $30,000.

In conclusion, the bad news is that college costs are skyrocketing. But the good news is that there is a lot a family or a student can do to keep their own costs down. If you’d like to learn more, or if you’re ready to create a plan to keep costs down for your student or for yourself, please get in touch with us today!