Parents should avoid spending a dime on college until students answer these 58 essential questions
NEW YORK, NY, September 22, 2021 /24-7PressRelease/ — Americans are struggling to save for retirement, but rising college costs have made this a monumental challenge for parents and grandparents of college-bound students. Too many pay for college by borrowing from their retirement accounts or taking out parent PLUS loans.
As millions of families prepare to complete FAFSA beginning October 1, they can now access LFE’s unique new College Planning Educational solution when working with advisors, CPAs, and College Planners, or as part of their Financial Wellness programs at work.
The LFE Institute, an unbiased Financial Wellness curriculum developer for nearly three decades, discovered that most college planning is designed to either help students select a school and aid in the admissions process, or to assist parents in paying for college. This myopic approach to college planning has left families with depleted savings and record debt levels.
Talking with hundreds of financial and academic advisors across the country, LFE identified crucial post-COVID questions millions of families either fail to know or ask before spending tens of thousands on college. They are blindly making critical, and too often emotional, college decisions that will affect their financial lives for decades.
LFE used this research to create the first 5-Step e-Learning Plan – the CAP System – that includes the College 58: 58 essential questions every college-bound family needs to answer before spending a dime on college.
Sallie Mae reports parents now owe $103 Billion in PLUS loans. Fidelity’s 2021 Study found their final PLUS loan balance was higher than expected, leaving many to sacrifice saving for the future as they battle to reduce this debt. LFE’s new College 58 questions were designed to prevent these problems.
“The pick-a-school sites and personalized college planning for the wealthy are plentiful, but there hasn’t been a holistic, inclusive educational plan for the masses until now,” states Alice Whinnery, Founder and CEO of the LFE Institute, “Too many are left behind to navigate today’s complex college landscape.”
The College 58 simplifies the College Planning process while educating families to make smarter, more informed college decisions, regardless of their income, gender, or ethnic background.
Students and parents quickly learn: The latest insider secrets, strategies to save thousands on college, techniques many colleges use to set students up to fail, traps to avoid, innovative new free or low-cost alternatives, simple steps to be better prepared for the job market of the future, and so much more.
“Those who want to save thousands and borrow less for college should answer these 58 questions before selecting a school, completing FAFSA, or co-signing their first loan,” said Whinnery. “Their financial future depends on it.”
About the LFE Institute
For nearly 30 years, the LFE Institute developed broad-based financial curriculum for employers, banks, credit unions, Federal and State agencies, advisory firms, and pension providers. Upon discovering the lack of inclusive College Planning education for the masses, the firm transitioned into focusing exclusively on developing the first scalable e-Learning System designed to help both students and parents navigate one of the biggest financial decisions many will ever make: College.
LFE is now launching these unique new tools in the Fall of 2021 through Financial Wellness providers, fintech firms, advisors, CPAs, insurance networks, financial services providers, and others who work with college-bound families throughout the U.S.
For the original version of this press release, please visit 24-7PressRelease.com here