4. My student is only a high school sophomore. Is it better to wait until they’re a junior/senior to get started?
While it’s tempting to wait, the sooner you start to plan, the more choices you will have. Your financial history for financial aid purposes begins as early as the end of your child’s freshman year of high school. By starting your planning early, you may be able to position your assets such that your student will have more opportunities to qualify for maximum financial aid. You will also have more time to plan for the costs you’ll be expected to cover.