The Brown family's financial situation is precarious, with a low income and no savings, which affects their ability to finance college for Jason. They initially planned to apply to public universities but discovered insufficient financial aid for their needs. Premier College Funding recommended applying to private colleges, resulting in significant financial aid opportunities, potentially covering all four years without incurring debt.

1. Case Study #3
The Brown Family

2. Background Information
The Brown Family
 Mother: Elsa, age 45
 Student: Jason, age 18
 Siblings: None
 Family Income: $23,000
 Yearly Expenses: $20,000
 Family Non-Retirement Assets: $0
 Retirement Assets: $0
Current Situation
 Single divorced mother, has very low income.
 Very little savings and zero amount of liquid assets.
 Expected Family Contribution (EFC) is $0.
 The father, in this case, does not contribute financially.
 Family has no income or saving to finance college

3. Plan before Premier College
Funding consultation
Brown Family Plan
 They only considered applying to in state public universities because of
‘relative’ low cost of attendance.
 Private colleges cost three times more and factor the income and
savings from the other parent (father).
Issue
 Public colleges do not have the financial aid to help low income families
meet their Estimated Family Contribution. Only $10,000 in federal and
state aid is available.
 The mother will have to fund on average $25,000 per year for school.
Original Family Plan
 The mother is planning to fund the education through
borrowing, incurring debt load of more than $100,000 over
for years.

4. Premier College Funding
Recommended Action Plan
The Brown Family
 Recommended applying to private colleges and universities because
they will provide grants and scholarships to meet the family
contribution of $0.
– Applied to Boston College that meets 100% of family need, in this
case, $60,000. (21%, $12,000, of the 100% is loans/jobs, which will
have to be paid back. $48,000 per year will be scholarships/grants,
“free money.”
– Professional judgment for exemption status for the father’s
financial situation. We asked the college to not factor in his income
and savings due to non-participation.
 This qualified the Browns for a total of over $48,000 of gift financial aid
at Boston College per year verse $10,000 at a public university.
New Family Plan
 The mother is on track to have enough funding to cover all
4 years and can avoid going into serious debt.

5. Disclosure
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