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Minnesota Company Helps Families Cut College Costs

MINNEAPOLIS (WCCO) -- It's no secret the cost of college keeps rising. Tuition can leave students and families deep in debt.

The average cost? More than $9,000 for a public college, nearly $24,000 if you're out of state and a private four-year school runs roughly $32,000.

A Minnesota-based company works to lower those costs. College Inside Track says it can save families tens of thousands of dollars. WCCO found out how and if you really should pay for the help.

Maddie Wheaton is a freshman at the University of Minnesota. This time last year she was filling out college applications and making decisions that could affect her financially for years to come.

"I have four siblings so lots of kids going through college. I wanted to make sure I didn't come out of college with too much debt," Maddie Wheaton said.

Like many students Maddie is paying a portion of her tuition. Her mom and her dad will make up the rest.

"Was very concerned actually and it kind of kept me up at nights thinking about if I want all my kids to go to college how are we going to do this. How are we going to afford it," mom Cozy Whittman said.

Enter College Inside Track.

"Just like you would hire a realtor for a major purchase of a home you would hire us for the major purchase of college," CIT president Chris Wills said.

The company offers guidance when it comes to picking the right school. Maddie worked with them, and her younger sister Gillian is going through the process now with an adviser.

The financial component is a major selling point, says Wills.

"We help them save lots and lots of money on college. On average we help families save about $75,000 on the college purchase. There might be two equal schools that might be a good fit for the student academically and socially but one of them might literally be half the cost and a lot of families just don't know about those different schools," Wills said.

They attempt to match a student with a school that may be more generous with financial aid.
In Maddie's case a private school was willing to reduce the cost from $47,000 to $17,000 a year, although she declined.

Her adviser caught an error on her federal student aid form or FAFSA. It saved her nearly $12,000 this year at the U of M.

There's also a little known appeals process the Inside Track team knows how to navigate.

"Which is basically we negotiate with the college on behalf of the family to essentially get them a better deal," Wills said.

Wills admits students, or their parents, can do all of this on their own, but he argues his advisors are better versed in what colleges are looking for, and where they're willing to budge.

In the Twin Cities, U of M, University of St. Thomas and Macalester College told WCCO they do not negotiate and they don't "price match" other colleges. They do entertain the appeals process if a student's circumstance has changed after filling out a financial aid application.

"By a time a student is admitted to Macalester we know that we love them so at that point the conversation really becomes about understanding the family financial situation," Director of Financial Aid Brian Lindeman said.
Macalester offers financial assistance to students.

"Most financial aid offices have a way for a family to enter that dialogue and they don't necessarily need a paid coach to do that," Lindeman said.

A representative for St. Thomas told WCCO there's no reason for a family to hire an outside company. Each prospective student has a personal financial aid counselor assigned to them.

Still, Cozy Whittman said having someone who knows the ins and the outs up front helped.

"And the reality is the price tag that's out there and then the price tag you pay is so different," Whittman said.

Gillian Wheaton, who wants to be a dance major, hopes she finds similar success.

"It's definitely brought up a lot of opportunities and scholarships I didn't realize existed," Gillian Whittman said.

The U recognized many of Maddie's high school achievements. She received a grant, work study and scholarships. It was more expensive than some of her other options but she said the FAFSA savings made it manageable.

"I'm basically going to come out of college with little to no debt, and that's such a lift off my shoulders because I can focus on what I actually want to do," Maddie Wheaton said.

Packages for College Inside Track start at $3,675. The company promises to find free money at least equal to its price or it will refund the difference.

Here are links to help find a college search adviser, as well as free resources for families:

College Inside Track
Independent Educational Consultants Association -- Find a Consultant
The National Association for College Admission Counseling
Higher Education Consultants Association -- Find a Consultant
Free Application for Federal Student Aid (FAFSA)

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