Cracking the Books for Financial Aid to College
As the price of a degree at a private college shoots toward the cost of a Lamborghini, parents and grandparents are looking for a leg up as well as to correct mistakes that could cost them dearly when applying for need-based financial aid.
Mistakes range from giving money directly to a minor to selling investments in the year that an aid application is made. College counselors, financial advisers and aid specialists say that beyond mending these missteps, there are many legitimate ways to increase the amount of aid. The advice, they say, is not intended to skirt the system or to support an extravagant lifestyle but to put students and their families on firmer financial footing as college costs skyrocket.
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