In this podcast episode, the hosts delve into the common pitfalls families encounter when planning for college and share effective strategies to manage college expenses. They emphasize the importance of starting the planning process early, ideally when kids are still young. The episode clarifies the differences between need-based and merit-based financial aid, discusses how to make the most of 529 plans, and explores various tax optimization techniques. Additionally, the conversation addresses student loans, highlighting the importance of responsible borrowing and considering alternatives like transferring from community colleges. With college costs varying widely, the episode underscores how careful planning and resource utilization can lead to significant savings.
