Mistake #1: Parents don't plan far enough in advance for what events are to come.
The first thing to point out here is the fact that if you're like most parents, you didn't start early enough and haven't saved enough to pay for your child's college education. But that's water under the bridge. An even bigger mistake parents make is not utilizing “late-stage college funding planning” strategies to dramatically lower their college expenses.

Regardless of your family's income level, you need to determine the most efficient way to pay for college. Once your child is in high school, you need to familiarize yourself with the whole college funding process and develop a comprehensive, multiyear plan that will take into account college admission strategies, cash-flow strategies, financial aid strategies, and tax and other financial strategies.

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