The Student Debt Crisis

More than 45 million student loan borrowers owe on student loans, the total of which represents close to $1.6 trillion1 and grows by over $2500 per second.

In our financial planning practice, we have many times seen families put themselves in very precarious financial positions navigating the college maze. Students not understanding how their future earnings will be based on their planned career path and the cost of their college have a direct impact on success in the first few years after college. An entire generation of American’s have moved back home with Mom and Dad, delayed buying homes and having families due to the crushing toll that this debt is taking. Students are graduating with loan payments that exceed what many people pay in rent under a normal 10 year repayment plan, or to pay less monthly taking 25 years to pay their student loans off, effectively doubling or tripling the cost of their education after interest. We have seen parents borrowing from retirement plans, taking home equity loans, and delaying their own retirement to assist children in affording college.

This has become a hot topic in the media with many books, articles, interviews, and podcasts looking at this crisis from many different viewpoints. It has been a point of ongoing political debate and even a campaign focus of politicians in many areas and on both sides of the party aisle. Regardless of the arguments, the sharp rise in student debt, eclipsing all other consumer debt in this country other than mortgages is a problem1.

It is due to a confluence of factors the largest of is the lack of knowledge in how to navigate the complicated process of determining college affordability, and continuing rising cost of college education due to the continued cuts in state funding towards those costs and the increased demand in higher education. This is a complicated area of financial planning that most advisors do not help with and parents and students are forced to go it alone. Lack of a plan is often further complicated by the pressures on teens to go to the fun school that will provide them a great degree and a great college experience and often the affordability is looked at last. Not wanting to disappoint each other, parents and students often bite off more than they can chew and end up coming out of school with a large sum of debt to start life as adult.

The good news is that data points to the fact that investing in a college education is still a good returning investment as recent data from The Bureau of Labor Statistics shows that Americans with a bachelor’s degree have an average weekly income of over 66% higher than those of high school graduates.

So with the growing debt crisis at odds with the benefit in a college education, we are here to help change the way American’s shop for college, work to cut down the cost of college and end the student debt crisis one family at a time.

These are real issues we see every day. Planning changes that. We can help!

Do you want to make sure that you are not overpaying for your child’s college education? Would you like to minimize the impact of student loan debt on you and your child upon graduation? We help families develop sensible, individualized plans to help pay for college.” Tutschulte Financial Planning

Do you want to make sure that you are not overpaying for your child’s college education? Would you like to minimize the impact of student loan debt on you and your child upon graduation? We help families develop sensible, individualized plans to help pay for college.” Tutschulte Financial Planning

College Pre-ApprovalTM

Before you go shopping, determine your family’s college funding budget for all four years of college.

The College Pre-Approval™ 3-step process can help ensure students graduate with manageable student-loan debt without robbing retirement.

You will know exactly how you will pay for all 4 years of college down to the penny. Here’s an overview of the College Pre-Approval Process.

Demystify Financial Aid

Unless you have an understanding of how financial aid works, the sticker price of a college only gives you a partial idea of what to expect.

Be an informed consumer and learn how your family can cut the cost of college and get the most financial aid. Our 4-quadrant system helps families identify strategies to get the most free money.

Cut the Cost of College

Once you have your pre-approval amount and understand which quadrant you fall into for financial aid, now it is time to cut the cost of college. Leave no stones unturned and don’t pay more for college than you absolutely have to. We can help you:

  • Identify strategies to maximize aid eligibility
  • Explain key differences between the FAFSA & CSS Profile
  • Determine optimal asset, income, and tax strategies
  • Advise on distributions from investment accounts
  • Identify eligible tax credits and deductions
  • Coordinate contributions from other family members
  • Evaluate and select the proper loans
  • Determine how to cover shortfalls

Download Free Guidebook

Download A New Approach to Paying for College and see how you can cut the cost of college.

Download Free Guidebook

Download A New Approach to Paying for College and see how you can cut the cost of college.

Services & Pricing

What is it?
Who is it for?
How does it work?
What does it provide?
What does it cost?
College Pre-Approval™
What is it?
College affordability assessment & financial aid planning for one student.
Who is it for?
Optimal for high school students (sophomore or junior year) who have completed a standardized test score (ACT/SAT) and a list of up to 8 colleges of interest.
How does it work?
A 90-minute workshop (after some pre-work completed by prospective client)
What does it provide?
  • College Pre-ApprovalTM Budget
  • Expected Family Contribution (EFC)
  • Net cost projections (for each college, up to 8)
  • Need-based Aid enhancement ideas
  • Merit-based Aid enhancement ideas
  • Student loan projections (for each college, up to 8)
What does it cost?
$500
College Planning
What is it?
College affordability assessment & financial aid planning for one student. Ongoing college planning advice from initial workshop through school selection and completion of degree.
Who is it for?
Optimal for high school students (sophomore or junior year) who have completed a standardized test score (ACT/SAT) and a list of up to 8 colleges of interest. Beyond the initial engagement, someone who desires ongoing help throughout the school selection and financial aid award process.
How does it work?
  • A 90-minute workshop (after some pre-work completed by prospective client)
  • Progress meetings 2x per year until start of college, annually throughout completion of the degree.
What does it provide?
  • Everything that comes with the College Pre-ApprovalTM
  • College Funding GAP Analysis
  • College Savings plan strategies and advice
  • Initial Financial Aid guidance & renewals * (we do not help fill out FAFSA or any forms, just provide guidance)
  • Initial Student loan counseling upon completion of the degree.
What does it cost?
$1500
Let’s Talk

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About Us

Tutschulte Financial Planning offers a unique approach to investing for individuals committed to planning their financial future, families and small businesses. Since 2001 we have a proud history of providing personalized, independent financial advice and guidance to our clients.

We provide personalized strategies that take into account all aspects of your financial life and offer guidance, clarity of thought, and expertise to help you gain confidence in a more secure financial future.

In order to help you maximize your potential for success in all areas of your financial life, we take a comprehensive approach. We focus on trying to enhance the security of our clients’ accumulated wealth during their lifetime and beyond.

Discover our complete financial planning services

We help high school students in all St Louis Metro and surrounding school districts including Francis Howell, Rockwood, Fort Zumwalt, Parkway, Wentzville, Hazelwood, Mehlville, St. Charles, Kirkwood, Webster Groves, Lindbergh, Ladue, Clayton, and Pattonville, and many more.