Most families are unaware that proactive college-funding planning may dramatically lower their college expenses by tens of thousands of dollars. There are dozens of academic, financial, and tax strategies that can be utilized to accomplish this result.

A number of tax strategies can be used to create "tax scholarships," so the IRS can pay a big piece of your family's college expenses. ( A tax scholarship is any new found tax deduction that creates money you can use to reduce the cost of college. The higher your income tax bracket, the greater the benefit of any tax strategy because it is gross income you do not have to earn to fund college.)

Learn more from Fox Funding