Considering all the information available and all the online applications, planning for college still seems to be in the Stone Age.

Interestingly, the financial planning community typically overlooks the opportunities offered by helping parents of college bound children.

With real understanding of the complexities and contradictions of the college search process, an insightful financial professional can see that families typically struggle with college admissions and that many pay a heavy price because of common mistakes.

It is important to understand how the college search and admissions process can create problems, disappointment and financial issues for families.

As any experienced college counselor will affirm, there are many elements that create real confusion and errors in college search. This often involves the student’s wishes based on emotion and pride, the marketing efforts of colleges and outside influences such as boyfriends, girlfriends, teachers and coaches.

While this is happening, busy parents are trying to keep up with busy schedules and don’t have much involvement and are frequently not involved in the actual college search. That is, until it is time to find the money for college. And then those outside influences all disappear conveniently into the background.

Perhaps the most troubling element is that colleges today are determined to create brand names for themselves in order to attract more students. This is a standard business and marketing approach.

There seems to be a fixation on the so-called Top 50 or Top 100 colleges in America. This may give advantages to the schools but studies have shown that the college ranking has little or no impact on a person’s success after graduation.

And these negative elements are just the tip of the iceberg. Freshman drop out and transfer rates exceed 33%. The main reasons? Poor college selection and financial hardship.

If you believe this narrative to be over dramatic, understand that average graduation rates for four year degrees are actually close to six years. This means adding two extra years’ cost to a four year degree.

With the cost of college increasing each year, and money tightening, student debt is escalating, ranging from $27,000 to $37,000 (figures which exclude loans taken out by parents).

Many of the problems and challenges described can be avoided as long as some planning with clear thinking takes place early on in the college search process.

In today’s world, parents and students seem to be overburdened and short on time. Certainly from the parents’ perspective, lack of time makes college planning a remote issue. Until, that is, when the prospect of major college expense raises its head.

A local professional with strong ties to the community has the ability and the knowledge to communicate effectively with families and provide them with really useful guidance.

Such professionals begin with the demonstration of the financial burden a college education can bring along with casting a bright light on the common mistakes and misunderstandings regarding college search, they have the best opportunity to get families on the right track.

Learn more about howfinancial professionals are able to help families with college planning. Todd Mcgrath’s blog explains the challenges of college search and funding and how to address them..