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Early Action Applications: gain admission to college early without financial aid pressures hared by college financial aid advisor Jodi Okun

Early Action: Gain Admission to College Early Without Financial Aid Pressure

Pay for College / By

As a high school senior, the college application process can feel like a marathon. Between preparing your essays, gathering letters of recommendation, and making sure you meet all the deadlines, it’s easy to get overwhelmed. One option that can ease some of that stress is applying through Early Action. If you’re looking to gain admission to your dream school without the added pressure of figuring out your financial aid package right away, Early Action might be the perfect choice for you. What Is Early Action? Early Action is an application process that allows students to apply earlier than the regular application deadline. Typically, the application deadline for Early Action is early to mid November and applicants usually receive their admission decision by mid-December. What sets Early Action apart from other options, like Early Decision or regular decision, is that it’s non-binding . This means that if you’re accepted through Early Action, you’re not required to attend that school. You still have until May 1st (National College Decision Day) to decide which school you’ll commit to, just like regular applicants. Key Benefits of Early Action #1: Peace of Mind with Early Acceptance  One of the biggest advantages of applying Early Action is knowing your college admission status sooner. Instead of waiting until March or April to hear back, you can receive your decision by December. This gives you plenty of time to plan your next steps. Getting into a school early can also help reduce anxiety during the second half of your senior year. You won’t be spending months stressing over whether or not you’ll be accepted—by the time the holidays roll around, you’ll have a clearer picture of your future. #2. More Time to Focus on Other Priorities  Once you’ve submitted your Early Action application, the majority of your application work is done. This allows you to focus on finishing up the rest of your senior year on a strong note—whether that’s excelling in your classes, preparing for final exams, or participating in extracurriculars. Without the looming worry of outstanding applications, you can enjoy your senior year and head into the second semester with a bit more peace of mind. #3.  No Binding Commitment  Unlike Early Decision, which is binding (meaning if you’re admitted, you must attend),  Early Action gives you flexibility . This means you can apply to multiple schools through Early Action. Once that’s done, compare your acceptance offers, and decide which school fits you best. All of that happens without feeling pressured to commit right away. You can still apply to other colleges during the regular decision period. You’re under no obligation to attend the school that accepts you Early Action. #4.  Admission Without Financial Aid Pressure  A major benefit of applying Early Action is that, unlike Early Decision, you don’t have to make any financial aid decisions before accepting an offer. This is especially helpful for students and families who want time to evaluate their financial aid packages from multiple schools before making a final decision. If you’re applying to schools that offer need-based financial aid, early action gives you time to weigh your options. You’ll be able to make a more informed decision about which school to attend. Plus you’ll be able to look at the academic fit and the financial package. #5.  Possibly Higher Admission Rates  In some cases, schools may have higher acceptance rates for Early Action applicants. While this varies by school, some institutions may view Early Action applicants as more serious about their institution because they’re applying early, and they may accept a higher percentage of those students. Applying Early Action could give you a slight edge in the admissions process, especially if you’re applying to highly selective schools. #6.  Earlier Access to Campus Resources  Getting admitted early also means you can jump on things like campus housing, class registration, and sometimes even scholarship opportunities. Many schools open up scholarship applications to Early Action admits ahead of time. You may have the chance to secure funding before regular applicants. Early Action is an excellent option for high school seniors who want to get ahead in the college application process without the financial aid pressure that comes with other options like Early Decision. It allows you to receive your acceptance earlier, which can relieve some of the stress associated with waiting for decisions, while still giving you the flexibility to evaluate your options carefully. If you’re ready to take control of your college admissions journey, consider applying Early Action to your top schools. You’ll not only be able to enjoy the holidays with one less thing on your plate but also have more time to focus on the rest of your senior year. Good luck, and happy applying! More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Jodi Okun shares what you need to know about understanding financial aid forms like the FAFSA and CsSS Profile to pay for college

FAFSA, CSS Profile, and More: Understanding Financial Aid Forms for High School and College Students

FAFSA, Pay for College / By

The world of financial aid for college can feel overwhelming. But with the right tools and knowledge, you can unlock the support needed to pay for school. The whole process becomes way easier once you understand what you’re reading and what you’re filling out! Two of the most important forms you’ll encounter are the  FAFSA (Free Application for Federal Student Aid)  and the  CSS Profile . These forms are essential for both high school students entering college and current college students seeking financial aid. They help determine how much money you can get to pay for school – so don’t slack on filling the FAFSA out (and the CSS Profile if your schools request it!). Here’s some things you need to know to help with your understanding of financial aid forms.  FAFSA Overview  The  FAFSA  is your gateway to federal financial aid, including grants, work-study programs, and loans. Nearly every college requires it, and it’s used to determine your family’s financial need. Now, you’ll get that information in the Student Aid Index. Important things to know about the FAFSA include that it opens up 1 October in most years. This year, limited testing will begin for the new forms so don’t be surprised if you can’t fill it out right away. The deadline varies by school usually, but it’s often in the spring. As a reminder, I encourage you to fill it out as quickly as possible because financial aid is first come, first serve!  CSS Profile Overview  The CSS Profile is a financial aid form used by some private and a few public colleges to determine eligibility for institutional aid. Unlike the FAFSA, it digs deeper into your family’s finances and may require more detailed information about assets and expenses. The CSS Profile is administered by the College Board and there are fees associated with filing. It will cost $25 for the first school,  $16 for each additional school (fee waivers available). This is not required for every school, but many private colleges will require it. Be sure to check your school’s financial aid requirements!  Other Financial Aid Forms  Some schools may also have their own financial aid forms. Make sure to consult each school’s website  for additional requirements. You don’t want to miss anything! Stay on top of any  state-specific forms  for aid, as these can offer additional funding opportunities. Filing financial aid forms can seem like a chore, but the potential payoff is worth the effort. By staying organized, paying attention to deadlines, and understanding what each form requires, you’ll increase your chances of securing financial aid to help cover your education costs. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College Financial Aid Glossary: common terms and meanings that students and parents should know shared by financial aid expert Jodi Okun

College Financial Aid Glossary: Common Terms and Their Meanings that Students and Parents Should Know

Pay for College / By

Navigating the financial aid process as a college student or first time college parent can feel mind-boggling, especially with the numerous terms and acronyms thrown around. Almost every financial aid application or letter will have at least one of these acronyms so it’s important to start recognizing them. I want you to feel confident and comfortable as you navigate all of the documents you’ll be handling over the next year! To help you understand the financial aid landscape and make informed decisions as a college-bound student (or with them as a parent), I’ve put together a glossary of the most common financial aid terms and their meanings. FAFSA (Free Application for Federal Student Aid)  The FAFSA is a form that students and their families fill out to determine their eligibility for financial aid, including federal grants, work-study programs, and loans. It is essential to fill out the FAFSA as early as possible to maximize your financial aid options! This typically opens in October.  Student Aid Index The Student Aid Index is replacing the Expected Family Contribution from prior years, which was the amount a family would have to pay out-of-pocket for college expenses. Now, the SAI will help colleges and universities determine how much funding a student can receive. You can read about how the SAI might impact your family here! Grants   Grants are a type of financial aid that are not repaid. They are based on financial need. The most common federal grant is the Pell Grant, which is available to undergraduate students who demonstrate significant financial need. The new SAI is making the Pell Grant more available to many students!  Scholarships Scholarships are funds awarded to students based on various criteria, including academic achievement, extracurricular involvement, or specific talents. Like grants, scholarships do not get repaid. Scholarships come from colleges, private organizations, or community groups. Check for these frequently – even after college acceptance – to help keep your costs low!  Loans Loans are borrowed funds that must be repaid with interest. There are several types of student loans, including federal loans (such as Direct Subsidized and Unsubsidized Loans) and private loans from banks or other financial institutions. Federal loans generally offer more favorable terms and repayment options than private loans. Read about the differences here!  Work-Study Programs  Work-study is a federal program that provides part-time jobs for students with financial need. The program allows them to earn money to help pay for their education expenses. These jobs are typically on-campus, but some may be with local nonprofits or community organizations. COA (Cost of Attendance)   The COA is the total estimated cost of attending a particular college or university for one academic year. It includes tuition and fees, room and board, books and supplies, transportation, and personal expenses. The COA is necessary to help determine a student’s financial need and aid eligibility. FAFSA Submission Summary The FAFSA Submission Summary is a summary of the information provided when you complete the FAFSA. Simple as that! It also indicates a student’s eligibility for federal student aid. Colleges use the this summary to prepare financial aid packages for students. Award Letters Award letters are documents from a college or university to a student that list the types and amounts of financial aid they are eligible to receive. This may include grants, scholarships, loans, and work-study opportunities. It is important to carefully review and compare award letters from different schools to understand the full cost of attendance and the amount of aid provided. When you compare letters, remember to pay special attention to what the numbers say!  Understanding these key financial aid terms can empower you to make informed decisions and effectively plan for your college expenses. Familiarize yourself with this glossary to ensure you’re able to navigate the financial aid process with confidence. Remember, every dollar saved or earned through financial aid can make a significant difference in making college more affordable for you and your family. Good luck!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

The ultimate college application timeline and tips for high school students shared by college financial aid advisor Jodi Okun

Stay Ahead: The Ultimate College Application Timeline and Tips for High School Students

Pay for College, Preparing for College / By

Applying to college is an exciting yet challenging journey. Staying organized is key to managing deadlines, essays, recommendation letters, and other essential components of your application. That’s why today I want to share my ultimate college application timeline – and some tips – to help you stay on track!  Create a Master Timeline If you’re not a  junior or senior in high school, you can still be thinking about college! These early years are important to help explore interests, build relationships with your teachers, coaches, and other mentors – and decide what your college journey might look like. There’s no real formal deadlines in these two years. Instead, use the time to start researching what you’re interested in and where you could study that topic.  Junior Year In the fall of your junior year, make your list of potential colleges. This should include your dream, reach, and fall back schools. I highly recommend making visits to the campuses so you really understand what it’s like to be a student there. Curious about what to do during campus visits? Read one of my blogs here!  In the spring of your junior year, register for any standardized tests required by your schools. This usually looks like the SAT or ACT. Make sure you study and prepare for the tests. While you can take them again, that costs time and money in the application process!  During the summer before senior year, you’ll finish your prep for the SAT and/or ACT. Begin looking at the applications for the colleges on your lists and if there’s any common prompts for the application essays, start writing. The earlier, the better! The summertime is also a great time to get volunteer or work experience in your expected field of study – or simply to get more time in the community. These hours look great on your applications!  Senior Year Once senior year arrives, the application season will kick into high gear. In the fall, narrow down your list of colleges – if you haven’t already. It’s also the time to retake the SAT or ACT if you weren’t happy with your scores. Applications will begin opening for financial aid and the colleges, so take the time to review them all with your family. Sit down with your parents or guardians and complete the FAFSA and, if necessary for your schools, the CSS Profile. Remember, financial aid is often first come, first serve so you need to complete your applications early and accurately. Find more tips on how to complete the FAFSA or CSS Profile on the blog!  As you’re completing those applications at home, you’ll want to reach out to your teachers, coaches, mentors, or other trusted adults to write your recommendation letters. Be sure to provide them with everything they need to complete your letters. I recommend having a copy of your resume so they can reference your additional experience or work! Make sure that they know how and where to send your letters. Application Deadlines There’s a lot of deadlines to keep track of during the application process! One of the most important is to have your FAFSA completed by October 15th. Although this year was a little different, the deadline is usually in October. Early decision deadlines for college applications are usually around November 1st, so if you’re hoping to know where you’re going early in the year, finish your application components by then. Regular applications are typically done by January 1st of each year! Finally, once the schools receive the applications and make their decisions, you have to give your acceptance (or lack of one) to the school by May 1st. Please make sure to submit your “no” to schools you do not choose to attend so the other students on their waitlist are able to get their letters!  As we found out this past year, deadlines can and will change. But, in a typical application cycle, you can expect to follow those deadline dates! I recommend putting them on a central calendar for you and your family to see, along with any other dates from the various application components.  College applications are one of the hardest, most stressful, and yet rewarding things you will do in your high school career. While it can be easy to become overwhelmed by all of the components and deadlines, try to maintain a balance between your work and experiencing your last year of high school! Lean on your loved ones, counselors, and teachers for support and guidance – they are here to help you! Most of all, stay positive and know that this is a very normal and routine process. Each step will bring you closer to your goal – and anything is possible!   Good luck!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial aid advisor Jodi Okun shares what you need to know before you borrow student loans for college

What You Need to Know Before You Borrow Student Loans

Pay for College, Student Loans / By

Borrowing student loans is a significant financial decision that can have long-lasting implications on your student’s future. While loans can help make higher education more accessible, it’s crucial to approach borrowing with careful consideration and awareness. Before you and your student sign on the dotted line, here are several essential things to know about student loans. Understand the Types of Loans Available Student loans come in two primary forms: federal loans and private loans. Federal loans, provided by the government, typically offer lower interest rates and more flexible repayment options than private loans. Private loans, offered by banks or other financial institutions, may have higher interest rates and less favorable terms. Know the Difference Between Subsidized and Unsubsidized Loans Federal student loans are further categorized as subsidized or unsubsidized. Subsidized loans are need-based, and the government pays the interest while in school and during certain deferment periods. Unsubsidized loans accrue interest from the time they’re disbursed, and you’re responsible for all interest payments. Familiarize Yourself with Loan Terms and Conditions: Before accepting any loan offer, carefully review the terms and conditions. Pay attention to the interest rate, repayment options, grace period, and any fees associated with the loan. Understanding these details will help you make informed decisions and avoid surprises down the road. Estimate Future Loan Payments Use loan calculators or online tools to estimate your student’s future loan payments based on the amount borrowed, interest rate, and repayment term. This exercise can give you a realistic picture of what your monthly payments will be after graduation and help you plan accordingly. With this knowledge, look at potential future paychecks and determine if that’s reasonable.  Explore Federal Loan Benefits Federal student loans offer various benefits that can ease the burden of repayment. These include income-driven repayment plans, loan forgiveness programs for eligible professions, deferment and forbearance options, and the possibility of loan consolidation. Understand how these benefits may apply to your situation. Consider Future Earning Potential Before taking on student loan debt, consider your student’s expected future earning potential in your chosen field of study. Will your projected income allow you to comfortably manage loan payments after graduation? Research salary data for your desired career path to gauge whether borrowing is a wise investment. Borrow Responsibly Only have your student borrow what they need to cover essential education expenses. Resist the temptation to borrow more than necessary, even if they’re offered additional loan funds. Remember that every dollar borrowed accrues interest, increasing the total amount you’ll need to repay over time. Explore Alternative Funding Sources  Exhaust all other financial aid options, such as scholarships, grants, work-study programs, and savings, before turning to student loans. Every dollar your student can secure through non-loan sources reduces their future debt burden. I recently shared 10 creative ways to fund college – check them out here!  Stay Informed and Communicate with The Loan Servicer Encourage your student to keep track of their loans, stay informed about changes in repayment terms or benefits, and communicate regularly with their loan servicer. If you or your student encounter financial difficulties, don’t hesitate to reach out and explore available options for managing your loans. Borrowing student loans is a major decision that requires careful consideration and planning. By understanding the types of loans available, familiarizing yourself with loan terms and conditions, estimating future loan payments, exploring federal loan benefits, considering your future earning potential, borrowing responsibly, exploring alternative funding sources, and staying informed, you can make informed decisions about financing higher education while minimizing the long-term impact of student loan debt. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Jodi Okun, college financial aid expert, breaks down what to consider when deciding on loans for college

Deciding on Financial Aid Offers: Do You Really Need All Those Loans?

Financial Aid, Pay for College / By

Receiving a financial aid offer can be both exciting and overwhelming for college-bound students and their families. While grants and scholarships provide much-needed assistance, loans often make up a significant portion of the aid package. However, before accepting those loans, it’s essential to carefully evaluate whether they are truly necessary. Let’s delve into the intricacies of financial aid offers and explore whether you really need all those loans. Understanding Financial Aid Packages: Financial aid packages typically consist of a combination of grants, scholarships, work-study opportunities, and loans. Grants and scholarships are considered “gift aid” because they do not need to be repaid, making them the most desirable forms of financial assistance. On the other hand, loans require repayment, often with interest, adding to the overall cost of education. Assessing Your Financial Need: Before accepting any loans, it’s crucial to assess your actual financial need. Start by calculating the total cost of attendance, including tuition, fees, room and board, books, and personal expenses. Then, subtract any grants, scholarships, and other sources of income to determine your remaining need. This exercise will help you understand how much you truly require in loans to cover your expenses. Exploring Alternative Funding Sources: Instead of immediately turning to loans to bridge the financial gap, consider exploring alternative funding sources. Look for additional scholarships, grants, and work-study opportunities that may be available through your college, community organizations, or private foundations. Every dollar you can secure through non-loan sources reduces your future debt burden. Evaluating Loan Options: If loans are necessary to finance your education, evaluate your loan options carefully. Federal student loans typically offer more favorable terms, such as fixed interest rates and flexible repayment options, compared to private loans. Additionally, federal loans may qualify for income-driven repayment plans and loan forgiveness programs, providing valuable assistance post-graduation. Borrowing Wisely: When borrowing student loans, it’s essential to borrow only what you need and not the maximum amount offered. Remember that every dollar borrowed accrues interest over time, increasing the total amount you’ll need to repay. Consider your future earning potential and how manageable your loan payments will be after graduation. Aim to keep your total student loan debt at a reasonable level relative to your expected income. Seeking Financial Counseling: If you’re uncertain about your financial aid package or how to proceed, consider seeking financial counseling (like what I do!). Spots for the 2025-2026 school year are open and are going quickly. If you want to chat about your personal situation and plans, schedule a 15 Minute Power Chat to learn more and see if you’re a good fit to work with me! While financial aid offers can provide much-needed assistance, it’s essential to critically evaluate whether you really need all those loans. Remember that minimizing student loan debt now can lead to greater financial freedom and security in the future. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial aid advisor Jodi Okun shares 10 creative ways to cover your students college costs - from scholarships to a side hustle

10 Creative Ways to Cover Your College Costs

Pay for College, Scholarships / By

Navigating the financial hurdles of college can be daunting, but there are numerous creative strategies to help ease the burden. From scholarships to unconventional gigs, there’s options available to resourceful students (and their families). I know that closing the gap between what aid is being offered and what your family can provide can feel tricky. So, here are ten creative ways to cover your students college costs: #1: Apply for Scholarships and Grants Start by researching scholarships and grants offered by various organizations, institutions, and even local businesses. There are scholarships for almost everything – from academic achievements to unique hobbies and backgrounds. Don’t underestimate the power of smaller, niche scholarships; they can quickly add up and significantly reduce your student’s expenses. The best part is that scholarships are free money and don’t have to be paid back!  #2: Freelance or Remote Work Encourage your student to leverage their skills by freelancing in their spare time. Whether it’s graphic design, writing, coding, or tutoring, there are platforms where they can offer services remotely. Websites like Upwork, Fiverr, and Tutor.com provide opportunities to earn extra income on your own schedule. This can even continue while at school, if it’s beneficial for your student.  #3: Participate in Research Studies Many universities conduct research studies and clinical trials and are often in need of participants. These studies can range from psychological experiments to medical trials. While compensation varies, it’s a unique way to earn money while contributing to scientific advancements. #4: Utilize Crowdfunding Platforms Websites like GoFundMe and Kickstarter aren’t just for entrepreneurs; they can also be used to raise funds for educational expenses. Create a compelling campaign outlining your educational goals, financial situation, and why you need support. Share it with friends, family, and your social network. Your family may even consider doing this in lieu of graduation gifts.  #5: Become a Resident Assistant (RA) Many colleges offer free or reduced housing for students who serve as resident assistants. In addition to saving on housing costs, RAs often receive stipends or tuition waivers. It’s a great way to build leadership skills, make connections, and offset living expenses. At some schools, these positions are only available for upperclassmen, so just check out the schools’ requirements and keep it as an idea after freshman year, if necessary.  #6: Rent Out Your Space If your family has an extra room or property near your college campus, consider renting it out to fellow students or through platforms like Airbnb during peak tourist seasons. This can provide a steady stream of income to help cover your own housing expenses. Renting is also a great option at home, if your student’s space is open!  #7: Explore Work-Study Programs  Work-study programs provide part-time employment opportunities for students with financial need. These jobs are often located on campus and can range from administrative roles to positions related to your field of study. Not only do they provide income, but they also offer valuable work experience. Schedules can often be crafted around their classwork, so it’s a great option if your student can handle it!  #8: Start a Side Business Tap into your student’s entrepreneurial spirit by letting them start a side business. From selling handmade crafts online, offering pet sitting services, or creating a niche blog with affiliate marketing, there are countless ways to generate income outside of traditional employment. #9: Take Advantage of Employee Benefits:  If your student is currently employed, check if their employer offers tuition reimbursement or educational assistance programs. Some companies provide financial assistance for employees pursuing higher education relevant to their job or career advancement. #10: Negotiate Financial Aid: Don’t hesitate to negotiate with colleges regarding financial aid packages. If your student received offers from multiple institutions, use them as leverage to request more favorable terms. Colleges want to attract talented students, and they may be willing to offer additional grants or scholarships to make their school more affordable for you. Read more of my tips on negotiating financial aid packages here!  While the cost of college can be overwhelming, there are numerous creative strategies to help finance your education. By combining some of these unique ideas, you can significantly reduce your out-of-pocket expenses. Remember to explore all options, stay proactive, and don’t be afraid to think outside the box when it comes to covering your college costs!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

4 tips for making good financial choices for college shared by financial aid expert Jodi Okun at College Financial Aid Advisors

4 Tips for Making Good Financial Choices for College: Navigating Financial Aid for Juniors and Seniors

Financial Aid, Pay for College / By

College choices are popping up like flowers this spring, and let’s face it, it can be a bit overwhelming… especially when it comes to picking the right financial aid options. But don’t stress! Here are four easy steps for high school juniors and seniors to help you breeze through these decisions and make a savvy choice! Although your decisions might look a little different, the same principles still apply to you both. Reflect The thinking and waiting process makes choosing a perfect college difficult. Certain important questions must be answered, such as: What college will students be happy at? What can parents afford? What financial aid path is best for families? These reflections will answer the majority of these questions and provide a starting point for conversations with your family.   Juniors:  High school juniors  should start to reflect on what they want from their college experience. Use this time to do their research on the different types of financial aid and varying scholarships available. It’s also a great time to talk with your family about budget and funds. Being informed enables students to grasp an understanding of the financial aid process as a whole and what plan will be most favorable for all parties in the long run.  Seniors:  This time of year is important for seniors to start picking what college is best for them not only with financial aid, but other attributes as well. As seniors start to approach the end of the year, college acceptances and financial aid offers/awards are rolling in. It is critical to address all aspects of each respective school with the whole family so that the final decision is clear with everyone in the family.  Refine  Spring is the time for students to refine their list of preferred colleges. Narrowing down a list of financial aid offers, identifying the path that will accomplish what students want is a significant step in the  timeline. Students need to remember to prioritize location, size of school, financial aid offer, specific major when narrowing down their choice. Look at all aspects of the schools!    Juniors:  It is never too early for high school juniors to start generating a list of colleges they are interested in and would like to investigate further. Aim for a list of five to ten colleges that they could see themselves at and do research on those specific schools.  Seniors: Students need to communicate with financial aid offices, school counselors and their families to determine what option and financial aid path is going to be the best option for everyone. Use this time to your advantage and thoroughly compare award letters and offers. Reducing the list of awards and deciding between two to three options will allow everyone to come to a consensus more effectively.  Register  Now is the time for high school students to start signing up for classes, clubs, tests, and other important preliminary college requirements. They also need to register and submit your financial aid form in the fall. Students and parents alike often forget that there are deadlines! High schoolers should stay in contact with their school counselor as well as the desired colleges’ financial aid office.  Juniors:  Although college seems to be far off, signing up and creating an account for Free Application for Federal Student Aid (FAFSA) will ultimately give students a headstart when filling out financial aid forms. Contact the financial aid offices of students’ potential colleges to discuss the baseline of what a student may be eligible for or any questions they have.  Seniors:  The time has come where incoming college students should be evaluating the financial aid offers from the colleges they were accepted to. Depending on the types of financial aid students end up opting for, they will  need to complete verification documents along the way.  Reorganize  The final step of making sure students receive the financial aid package that best accommodates their needs is to organize their plan. It is imperative to go over the financial aid requirements and what each award is offering in advance so you know what’s available for you. .  Juniors:  With upcoming deadlines, incoming seniors need to start planning and staying on track to prepare to complete all forms and applications. If students follow the three prior steps, they will not be overwhelmed with trying to rush and complete applications and make errors. Seniors:  Fall is still very far away, but graduating high school seniors need to stay organized with their financial aid timeline. Follow up with the financial aid office of their college if needed. Obviously this year has been a bit different than most. Next year college students with financial aid should be well prepared to fill out the form every upcoming year of attending college as well as fulfill the requirements of the financial aid award.  Don’t leave financial aid until the eleventh hour! The sooner you start, the more breathing room you’ll have to weigh your options. Keep in mind: today’s seeds grow tomorrow’s flowers!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Tips for deciphering college financial aid offers shared by financial aid expert Jodi Okun at College Financial Aid Advisors

Deciphering College Financial Aid Offers: Making the Right Choice for Your Wallet and Education

Financial Aid, Pay for College / By

This time of year is so exciting for high school seniors! Financial aid packages are arriving with acceptance letters – and these students get to start figuring out what their next four years are going to look like. Now that all the paperwork has arrived, you might be feeling the pressure of choosing a college. Unfortunately, time is ticking – even with extended deadlines at some schools due to the FAFSA updates. With most decision deadlines hitting by May 1st (or sometime soon after), it’s crunch time to make the decision of which school you’ll be attending. If you’re stuck between a few options, money might be the deciding factor. Check out these tips to figure out which financial aid package is the real winner!  Compare Figures Correctly:  When choosing an offer, don’t just pick the college which gave the most financial aid. Instead, get your calculator out and analyze how much it really costs to attend each school. Otherwise, you’re not really looking at the right numbers. Be sure you understand whether you will receive the full amount of your award for the entire four years you attend, too – as this could change costs during your time there. Reread your financial aid letters and determine how much of each package is in federal student loans. Don’t forget that you will eventually have to repay that money, so it doesn’t really lower your costs; it just defers a part of them.  Calculate a Bottom Line:  List out everything you will have to spend money on including tuition, room and board, fees, travel expenses, and cost of living at each college. Then subtract out the grants and scholarships from individual schools, along with any scholarships you won on your own, for a bottom line net cost figure. See if any schools are expecting you to participate in a work-study program that will provide money within their aid package. You’ll receive funds, but it could reduce the amount of time you have available for your studies – which may not be ideal for all students.  Remember: you will be expected to pay for anything that is not covered by financial aid or federal student loans.  Ask the Financial Aid Office (if appropriate!):  If the bottom line between two schools is still very close – but the one you’re leaning towards still costs more, consider reaching out to the financial aid office. Politely explain your situation, tell the school how much of a difference there is between your two top choices, and ask if there is anything else they can do to help you. If they can’t, you will have to decide if it is worth the extra expense to attend this college. With this year’s FAFSA issues, lead with kindness and patience throughout your interactions with the financial aid offices as they’re likely overwhelmed!  Consider Earnings Potential After College:  Taking out loans? If you have to take out federal or private student loans to attend a particular school, it may be worth the extra investment if you are able to graduate in four years and land a high-paying job. Check the schools’ websites to compare details about graduation rates, employment percentages, and starting salaries. You want to ensure that you’ll be able to pay back your loans when it’s time – and not buried under a pile of debt.  This is one of the hardest decisions you will have to make during the college application process. But, you’re almost to the finish line! Congratulations!!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Our favorite last minute money lessons for your college freshman before leaving for school shared by financial aid advisor Jodi Okun

Last Minute Money Talks Before Sending Your Student Off to College

Pay for College / By

As graduation gets closer, parents are wondering if they’ve done everything they can to prepare their children to be out in the world on their own, at college. I always encourage my CFAA Families to talk frankly about money, budgeting, and smart borrowing throughout the application process. But as the graduation date arrives quickly, I recommend talking about last minute money lessons to help with their future finances. It’s important to enjoy this joyous occasion and celebrate your student. But, setting a firm foundation for their money is equally important before dropping them off at their dorm.  Here’s a few final money lessons for your (almost) college freshman:  Always prepare for the rainy day:  In the last few years, many of us have learned that rainy days happen more than we’d ever hope or wish. Encourage your student to find a balance between using money and saving some for a future day when things might not be so easy. College students might feel like taking any cash graduation gifts or job signing bonuses and blowing it all on a fancy car or what they feel is a well-deserved trip after graduation. But strongly urge them to put some of this money away for future needs.  Carefully control credit:  Credit cards are a wonderful tool. But, if we aren’t careful, the balances can grow – and interest rates can always change. Paying off well-used credit cards can really hack away at your monthly budget. Educate your college student about credit, interest rates, and credit scores. Teach them not to borrow to finance a lifestyle that might actually be out of reach. It’s important to live within your means.  Know you’ll repay what you borrow:  As of now, student borrowers are going to owe the money they borrow. Although there’s always a chance of being forgiven (as we’ve seen in the last few years), there are no guarantees. If you have to borrow, borrow under the assumption that you will be expected to pay off those loans. Remind  your student to head to the financial aid office, look online, or contact lenders directly to find out exactly how much money was borrowed, when payments start, what the monthly payment amount will be, and if there are any income-based repayment plans. Make career, living and spending decisions based on the information that is available right now.  Build those budget skills:  College students often learn to live on the thinnest of budgets, and that is not a bad skill to take into life! The first few years after graduation are often ones of upheaval and financial uncertainty. Your student may live with you, move in with others, get married, change jobs, or decide to pursue further education. Someone who knows how to live within a budget will easily be able to adapt to all life’s financial challenges. Congratulations again, to the soon-to-be Class of 2024! You’ve worked so hard and with a smart money management, you’ll have even brighter futures!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

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