under $70,000 — perfect for fee-based tax accountants and

fee-based

education consultants. "Tax accountants are more adapted to

standardized

form filing," Darvis explains. "Their bread and butter

business

is providing a commodity service. Their `perfect’ client is the W-2

wage-earning family with a standard IRS 1040 schedule. Accountants

can build their financial aid service and fees into their tax

business."

over $70,000 and assets over $200,000. This group, Darvis says, fits

the financial planning and investment services field best because

their livelihood depends on developing relationships with clients

who have assets. "The average financial aid client has few assets,

which is the reason they are desperately searching for financial aid.

When you deal with clients who do not qualify for financial aid, your

probability of success in the financial planning and investment

services

industry increases dramatically." He adds that if the client is

in the 50 percent tax bracket (federal, state, and Social Security),

every additional $1,000 in tax write-offs equates to a $500 increase

in cash flow for college, which is comparable to a $500 scholarship.

"Although there are limited financial aid opportunities for the

affluent family, there are many little-known tax strategies that we

have specifically designed for education, which can provide the

affluent

family with additional cash flow for college expenses," he says.

He says his seminar works to dispel many of the college financial

aid myths, such as: "I earn too much income to qualify,"

"I

can’t afford to send my child to an expensive private college,"

"Scholarships are only for the good students," and

"Financial

aid is only loans and work-study."

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Guidance Counselor’s Advice to Parents

For families not interested in the services of a finance

professional such as Rick Darvis, profiled in the story above, there

are other options. One is as easy as making a phone call to the

hometown

school district’s guidance department.

The West Windsor-Plainsboro School District, where 95 percent of the

graduating seniors go on to higher education, conducts a seminar

featuring

a financial expert every January. One of the tools offered to parents

is a financial aid handbook assembled by David Prutow, director

of guidance at WW-P High School North. The handbook details various

college financial aid options.

Prutow, 47, holds a bachelor’s in social studies education from the

University of Delaware and a master’s in counseling psychology from

Rider. Prutow funded his education through a combination of limited

financial aid, loans obtained by his parents, student loans, and

income

from a part-time job. "I was like most kids, who lean on their

parents and are naive about the process," he says. "But back

then, it was less complicated. The process now has just gone off the

charts."

"We need to be on the cutting edge with the type of knowledge

we provide," Prutow adds. "The college admissions game changes

every year and, you really have to keep your hands on the pulse of

things."

Prutow’s handbook begins with a list of tips for parents pursuing

funding and also explains financial aid eligibility and the types

of aid available, including grants, local awards, scholarships, loans,

and work study. Also outlined are the steps of the financial aid

process

and major financial aid programs. Tips offered by Prutow include:

Federal Student Aid (FAFSA) should be sent in as soon as possible

after Jan. 1 of the year the student is entering college.

when filling out your financial aid form.

high school senior does not have any savings in his or her name. The

formula that determines need expects a student to spend 35 percent

on a year at college, but takes only 12 percent of parent’s assets.

grandparents

should be paid in the student’s name directly to the college. This

avoids gift tax liability.

what your income is. You never know when your family’s financial

situation

might change (job loss, death in family). You must have a FAFSA on

file if you need to have aid eligibility reconsidered. Also, being

rejected for federal aid is sometimes a prerequisite for private

awards.

— at a minimum, an unsubsidized Stafford loan.

schools — many students do not pay full price.

when state and federal aid are considered. It may be an issue when

private institutional aid is sought.

to spend 5 percent of your savings on tuition, but the percentage

is larger for salaries. A rough estimate — expect to spend 10

to 20 percent of annual salary on tuition and fees.

aid officers can be appealed, especially if your financial need has

changed.

private institutions use a form called the CSS Financial Aid Profile.

File the "profile" form as soon as possible, even if only

one school requires it.

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he or she is a dependent. For government aid programs, only the

custodial parent must report income and assets. Some colleges will

insist that both divorced parents report their incomes.

be sure that he has registered for the Selective Service since he

will not be eligible for any federal aid programs if he has not done

so by the age of 18.