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May 21, 2012
A popular book a few years ago advised middle class parents to forget about saving for college. The author argued that since the federal government deducts a percentage of savings from the amount of financial aid for which a child could qualify, they could lose money in the end.
The author failed, however, to predict the Great Recession. Parents looking at college bills today can't do a lot with the fact that their child qualifies for aid if the state and their colleges do not have enough money to help anyone but the neediest students.
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