Ed-Con Spotlight: Mike Lopata

Education planning is a key component of my business model while I approach solutions in a different manner than most consultants. While many education consultants go deep with their personal insight on different schools I’ll approach the college planning process from a numerical or quantitative standpoint with a financial aid focus. By taking a broad approach to financial aid I’ll consider merit and need based aid as one of the first steps while incorporating cash flow, taxes, liabilities, and career options into the comprehensive plan.

I feel the area of education is constantly changing and understand the importance of keeping up to date and sharing information. Through the use of Twitter and as a daily contributor to @CollegePlan101, I provide ongoing education with a focus in the area of college finances. Every day starts off by keeping high schools, colleges, and other educational services informed of the latest college related news.

As a first generation college graduate, I have learned a lot about the challenges of the college planning process along with career transition. It’s a difficult process that takes time and the right guidance. While maintaining a focus on college and career selection I approach college planning by providing the most efficient financial path. The objective is to provide financial aid and minimal student or parental loans. The process begins with identifying merit aid and need based scholarships and is then tailored to specific clientele. The strategies may involve the use of income shifting, income deferral, choice of the proper tax entity, liability restructuring, determining the right tax deduction, or tax credit. When looking at college planning as a piece of a comprehensive financial plan, many clients find that digging deep into their files uncovers other resources they can use to fund college or give them a piece of mind knowing their financial affairs are in order.

By working in the non-profit and for-profit sectors I have an understanding of a wide range of student and family profiles. I find satisfaction in helping out families in need to those with more complex business issues. Some of the more gratifying experiences include keeping students from being dropped from registration due to a lack of understanding of the financial aid system. Non-profit work includes the following organizations: Gwinnett County Library System, Atlanta Fulton County Library System, The Education Path, American Education Foundation (AMEDF), and Grady High School College and Career Connections (CCC). For-profit work through Lincoln Financial/Sagemark Consulting.