NewFed’s Brian Damico Dive’s deep into Ryan Mcsheffrey of Mill City Financial Partners and Scott Murphy of Newfed Mortgage:

• EFC or Expected Family Contribution calculated by:
  • Assessable assets
  • Income
• Re-managing your assets can add to your financial aid benefits
• How far in advance should be planning for your child’s college education?
• Which methodology is the school using to calculate tuition?
  • Institutional – Most Privates Schools
  • Federal – Most Public schools
• How can a home equity line of credit play into things?
  • 5:1 arm
  • Home equity line
  • 15-30 year mortgage
  • All of these reduce EFC
• Merit based vs need based aid
• Reach out to Ryan with any question 6173129820 [email protected] Mill City Financial Partners

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