Debt-Free U: How I Paid for an Outstanding College Education by Zac Bissonnette

By Zac Bissonnette

This publication can prevent greater than $100,000.

These days, most folks imagine you want to pay a boatload of cash for a caliber collage schooling. hence, scholars and their mom and dad are prepared to enter years of debt and in all likelihood sabotage their whole monetary futures simply to get a posh identify on their degree.

But Zac Bissonnette is strolling facts that this assumption isn't just fake, yet dangerous-a type con video game designed to tear you off and doom your pupil to a post-graduation lifetime of close to poverty . From his targeted double perspective-he's a private finance professional (at day-by-day Finance) AND a present senior on the college of Massachusetts-Zac found out find out how to get a superb schooling at a public collage, with out bankrupting his mom and dad or taking over mammoth loans.

Armed with his own wisdom, the most recent facts, and shrewdpermanent research, Zac takes at the sacred cows of the better schooling institution. He unearths why most of the traditional knowledge approximately making a choice on and financing collage is not just incorrect yet detrimental to you and your kid's monetary destiny. you will discover, for example, that:

* pupil loans usually are not an important evil. usual center category households can- and must-find how you can steer clear of them, even with no scholarships.

* university "rankings" are useless-designed to promote magazines and generate hype. If you belief one of many significant publications whilst determining a faculty, you face a capability bankruptcy.

* The elite graduate courses settle for a lot of people with non-elite bachelors levels. So do America's so much selective employers. The identify on a degree finally will not aid your baby have a extra profitable profession or make more money.

Zac can turn out each of these daring assertions - and extra. regardless of what your present monetary scenario, he has an easy message for mom and dad: "RELAX! Your child might be in a position to get a champagne schooling on a beer budget!"

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Additional info for Debt-Free U: How I Paid for an Outstanding College Education without Loans, Scholarships, or Mooching off My Parents  

Sample text

There are a few things to keep in mind about the FAFSA form, the first of which is that it’s arbitrary and out of touch with how much families can actually afford to contribute to college. Think about it: this formula that purports to show you how much you can responsibly spend is produced by the federal government, which has the largest debt in the history of the world. It’s like asking Cher how much plastic surgery you can have before it looks tacky. The FAFSA formula basically takes into account the parents’ income(s), savings and other assets (not including retirement assets or the primary residence), and age, along with the student’s income and assets, which are, in most cases, not particularly material.

But there was a silver lining: as part of my effort to promote the project, I’d started my own blog writing about stocks, business news, and investing. com, a financial news and opinion site. com, and I was hired to be the co-leader: planning features, finding story ideas, hiring writers, and, my favorite activity, writing. Somewhere in the middle of all that I started my college career at the University of Massachusetts, Amherst, where I was accepted into the honors college. It was during the process of applying to college and figuring out how to pay for it, which involved months of research and study, that I realized a lot of the conventional wisdom about college is just plain wrong.

A Walk Through the FAFSA Form Unless you are very, very early in the college financing exploration process, you have probably heard of the FAFSA form. FAFSA stands for Free Application for Federal Student Aid—but for our purposes let’s think of it as the Federal Assault on Families’ Savings Accounts. It’s a form provided by the federal government that asks for all kinds of information about your finances and those of your child; how much you, your spouse, and your child earn, and what kind of assets you have.

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