Nationally, guidance departments are facing their worst crunch ever, and are overloaded with as many as 800 or more students for each counselor. Budget cuts add to the problem causing schools to increase their responsibilities to areas other than guidance, leaving them with even less time for their students and with no relief in sight.

Despite these obstacles and to their credit, counselors still manage to advise students in career planning and college selection. However, when it comes to financial aid, they don't have the specific knowledge to provide necessary financial information that could save families thousands. They neither have the time nor the expertise to help parents reduce their Expected Family Contribution (EFC), the minimum the federal government determines that each family will pay for college, or how to avoid an array of assessments from the schools and the federal government.

In the financial aid formulas, students have no asset protection allowance. Those with assets in their own name will be assessed 20% per year. In other words, a student with $1,000 will be assessed $200 for each year the $1,000 remains in their name. (Just imagine having $10,000 or more!) After 4 years, the student will have lost $800 in financial aid for having $1,000 worth of assets! This is tragic but it can legally be avoided.

Guidance departments present "in-house" Financial Aid Nights which focus on filling out financial aid forms and understanding the basics of financial aid. Nevertheless, year after year, 9 out of every 10 families continue to be initially rejected for incorrect forms. Clearly, parents are not getting enough guidance in financial aid.

Well-meaning counselors invite FAO's to speak at their schools, trusting them to put the best interests of the students above the financial interests of their colleges. By evening's end, parents are often left with a false sense of security that the college of their choice will award their student its best possible financial aid package. Rarely does this ever happen.

Much like frugal employers whose goal is to hire the most talented applicants for as little as possible, FAO's seek out the most promising students for the least amount of financial aid. Expecting an FAO to reduce college costs is as likely as an IRS agent suggesting tax loopholes. FAO's can be helpful, but their loyalties remain with their schools - not their applicants.

Accountants may offer some assistance, but far too few have any experience with financial aid. Although they are experts with tax forms and tax strategies, financial aid strategies are a horse of a different color. The application of accounting principles can actually hinder a family's chances of getting all the aid they are entitled to.

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Reecy Aresty, a financial advisor since 1977, is the author of Getting Into College And Paying For It, an indispensable parent/student manual, the only book of its kind available in Spanish. For the past 25 years he's helped thousands of families send their kids to the college of their choice for less than they ever dreamed possible. His book is guaranteed to give students that all-important edge in admissions, and for parents there are numerous legal strategies to drastically cut the cost of college. Go to www.paylessforcollege.com for a free report, The College Funding Timeline, and learn what parents, students, and the media are saying about Reecy and his book for all seasons.