Post Title Image Illustrating Addressing FAFSA Challenges/Paying For College Through Structured Settlements

A college education has never been more expensive. There was hope that the introduction of a Free Application for Federal Student Aid (FAFSA) would be a quick and easy way to apply for college grant money online. Unfortunately, that hasn’t been the case. FAFSA has been plagued by problems. Here’s an article on the latest FAFSA issues with tips on how to successfully fill out an application.

A funding option that hasn’t changed: Use a portion of a settlement resulting from a personal injury to pay the costs of a college education.

How It Works. A portion of the settlement can be structured so it is distributed during the anticipated college years of a designated individual (i.e., the injured party, a minor). The funds compound tax-free within the structured annuity and are non-taxable once dispersed. The money can cover tuition, housing, living expenses and school supplies enabling the student to attend college without these costs being a roadblock to a higher education.

With the high cost of college tuition, taking advantage of all funding options makes sense. Contact me at 949-355-4726 with any questions about structured settlements and college expense strategies.

Pat Farber