Remember, you borrow for college because you can't borrow for retirement.
For some families, pre-funding their retirement using a private pension plan may help because it could increase their free scholarship money. So, two things happen when parents fund a private retirement plan: they decrease what they pay to colleges because they are now eligible for increased scholarship monies. This strategy is not for every family because not every college is generous with their free scholarship money. In addition, some colleges are more likely to meet a 100% of a family's eligibility if the student has high SAT scores and a high GPA. The second benefit is they have now pre-funded their retirement plans.
Contact me today for a free college planning consultation.