Pay for College Without Sacrificing
Your Retirement
A Guide to Your Financial Future

by Timothy Higgins

For most families, paying for college is the second largest purchase they will ever make—only rivaled by buying a home. The costs, coming when most parents are mid-career, also have a major impact on retirement planning. This book looks at how to meet those costs within the context of an entire financial plan that considers your income level, age, investments, retirement accounts, business holdings, the student’s level of achievement, skills, and expectations. This book looks in detail at: financial aid and how to figure expected family contributions; academic, athletic and need-based scholarships; tax sheltered savings plans such as 529s; the use of business assets; loans; home equity; retirement savings; potential help from grandparents; and how to choose the best college for your money.

About the Author

Tim Higgins is a Certified Financial Planner® and Certified College Planning Specialist. He manages his own financial advisory practice and specializes in helping families better tackle the high cost of college through integrating financial aid planning with comprehensive financial planning. He lives and works in a suburb of Boston.

Reviews

 “… an invaluable resource for families faced with the daunting prospect of handling the college expenses of their children. Tim Higgins brings his financial planning expertise to the discussion of whether or not students are likely to qualify for federal or private assistance, and offers families excellent suggestions for creating a financial plan that will best serve their needs, including making sure they are left with enough in retirement. This is a great book—a must-read for families with college-bound children.”
— Sally Donahue, Director of Financial Aid and Senior Admissions Officer, Harvard College

 “Tim Higgins gets to first base with admission advice, second with how the aid system works, third with general financial advice, and finally to home plate with the most important message in the book—don't commit yourself to paying a college bill without considering its effect on your income during retirement.”
— Don Betterton, retired Director of Financial Aid at Princeton University

“As college costs continue to skyrocket, it is crucial that parents and grandparents become educated savers and consumers. Tim Higgins’ savings and cost-cutting options coupled with his ability to understand the total financial picture is extremely valuable.”
— Gregg Cohen, President, CampusBound.com

“In the 16 years I have been guiding students and parents through the college selection and admissions process, I have rarely come across a financial planner like Tim Higgins. His timely and topical book is filled with legitimate money-saving strategies and sound recommendations.”
— Eric Goodhart, Director, SmartCollegePlanning.org

“In the 16 years I have been guiding students and parents through the college selection and admissions process, I have rarely come across a financial planner like Tim Higgins. His timely and topical book is filled with legitimate money-saving strategies and sound recommendations.”
— Eric Goodhart, Director, SmartCollegePlanning.org

“Tim Higgins is unique in his field of college financial planning in that he truly understands the concerns families have about this huge investment, and he views the process holistically. Although college is a critical step for your child’s future, your own financial viability is also important. Tim demystifies the financial planning process and ensures that your whole family is served. This book is the roadmap to maximizing your financial potential.”
— Charlotte Klaar, Director, College Consulting Services

“Affording college has become increasingly more difficult especially for the middle class. The cost of attending college and how to finance that investment are becoming increasingly more important factors when choosing a school. Tim Higgins gives excellent advice for how to most efficiently pay for college.”
— Timothy B. Lee, Ed.M., Certified Educational Planner, AHP Educational Consulting, and President of the Independent Educational Consultants Association