You are here:Home Blog
October 18, 2016

When Students & Parents Don’t Agree On College

In our years of helping thousands of students and parents we see it’s very common they don’t always agree on college should attend. Some reasons include the cost, location, the student has a friend(s) attending a specific college, academic reasons, the student wants to attend a prestigious school that may not be appropriate or benefit them etc.

One of my suggestions is that the parent(s) and the student take a “time out” and agree to discuss the topic again in the near future. But before doing so, I recommend both the parent(s) and the student take a piece of paper and draw a line down the middle and at the top on one side write Pros and on the other side Cons and list all that come to mind. In their next discussion it becomes more clear to both sides on how to make the best common sense decision.

If the disagreement is over the cost of a certain college, it is the parent’s responsibility to educate the student on the amount of debt he or she will graduate with. Also, the student should be responsible for some of the cost. I have found that the more the student is involved in paying for their education, the more serious they are to achieve the best in their education.

Filed Under: High School Planning Tagged With: , , ,
October 4, 2016

New FAFSA Changes 2017

New FAFSA Changes 2017 are effective as of Saturday, October 1st 2016 now allow families to file their 2017-18 FAFSA and the CSS Profile using their 2015 tax information. It is called prior-prior year (PPY). Many families are being encouraged to file their FAFSA and CSS Profile forms as soon as possible.

However, there can be a problem with this advice is the new timetable when people have changing income levels year to year. The financial aid amount will be based on their older financial data that does not reflect their current economic reality because of either job changes (i.e., losses) or a drastic drop in the value of assets. Financial aid decisions will be based on out of date bank and brokerage account balances, not to mention previous income levels.

Families do have options here. If you would like more information on this topic and or would like the appropriate advice for your family, please contact our office.

Filed Under: High School Planning
September 13, 2016

Should A Family Hire A College Admissions Consultant?

college admissions consultant
I highly recommend that most families retain a college admissions consultant when their child is looking to get into a top private college or ivy league institution. The college admissions consultant can be of benefit in many ways including test preparation and college selection, to essay and interview coaching and providing a strong application package. The cost can range from $1,000 to $10,000 depending on the level of services offered, needs of the student and the types of colleges they are pursuing. Ideally like good financial aid planning families should start the process in the Sophomore or Junior year in high school.

In addition most students will benefit from college admissions assistance even though they may not be a top student.

It’s important to differentiate that a college admissions consultant and financial aid consultants have different areas of expertise.  If you would like us to recommend a top college admission consultant for your son or daughter, please contact one of our staff.

Filed Under: High School Planning Tagged With: , , ,
September 1, 2016

New 2016 FAFSA Financial Aid Changes

Here are some new 2016 FAFSA financial aid changes you need to be aware of. Families can now file the FAFSA as early as October 1st 2016 for the 2017-18 academic year using the “prior-prior” tax information. So next year, students will file two FAFSAs using 2015 tax information. In addition, The College Board is also on board (pun intended) with the new date pertaining to the CSS Profile which is required at many private colleges. There are a couple of things to note here.

One is that the new change may not benefit some families and two, families need to know that different colleges will have different deadlines for both FAFSA and Profile.

In addition, families should never go by the Federal deadline for the FAFSA which is June 30 2017. If they do, they will miss out on the good aid.

If you would like more information and clarification on these changes, please contact our office.

Filed Under: FAFSA
July 23, 2016

Amazon Prime Student Loans. What You Need To Know.

Amazon is stepping into the student-loan marketplace with Wells Fargo to offer discounts to customers of the online retailer as Amazon Prime Student Loans.  A student-loan discount will be offered to Amazon Prime Student members. The online retailer has entered into a partnership with San Francisco lender Wells Fargo& Co. in which the bank’s student-lending arm will offer interest-rate discounts to select Amazon shoppers.

Before considering private loans for college, families should always utilize all  Subsidize Federal Loans (Stafford and Perkins) offered. With that said, if a family still needs additional educational loan assistance, they should shop around at various lending institutions large and small  for the best terms.  Over 70% of families borrow less when their financial aid forms are filled out correctly. Unfortunately the majority of families who do not retain professional guidance will make mistakes. Please contact our office to lower your out of pocket cost for your child’s education.

Amazon Tiptoes Into Banking Business Through Student Loans
News Source: Wall Street Journal

Filed Under: News Tagged With: , , , ,
June 9, 2016

FAFSA Changes 2017-18

Starting with the high school graduating class of June 2017, the timetable and tax year associated with the FAFSA changes 2017-18. The high school class of 2017 will be eligible to file the FAFSA starting on October 1st, 2016, three months earlier than in previous years. They will use 2015 Federal income tax returns (known as Prior-Prior Year (PPY)).

Take special note there is some uncertainty for the high school class of 2017. For example, the deadlines for institutional aid may change at some colleges. Also, students may initially receive estimated financial aid packages because college costs for the coming year may not be finalized and/or because state grant data may not be available. If this is the case, the families will subsequently receive confirmed financial aid packages. In addition, financial aid is based in part on the family’s income, and if that changes during that two-year period, the family could either lose money or have to file an appeal and go through a lengthy process to retain it. Instead of streamlining it, for a small portion of people, it adds an extra step if their circumstances change. Many things can happen in a year.

One thing that parents need to know is that they have the option to utilize their 2016 tax information to file FAFSA and the CSS Profile and they should if there is less income reported compared to 2015.

If you would like more information on FAFSA Changes 2017-18 and information on how to increase your financial aid options, please contact our office.

Filed Under: College Life Tagged With: , , , ,
May 4, 2016

What Is A College Gap Year?

mind the college gap year

Recently the term college gap year has been getting a lot of attention since President Obama’s Daughter’s Malia decided to utilize one with Harvard University. Many colleges are encouraging the delayed entry to give students the opportunity to build upon life and work experiences with a volunteer work program, part-time work, or travel and internships in foreign countries. Students have found that they entered college more mature and focused.

I personally agree have been a proponent for students taking off a year or two before entering college for many reasons. However, student’s need to know the do’s and the don’ts when pursuing a college gap year(s). For more information, please contact our office.

Filed Under: College Life Tagged With: , , , ,
May 3, 2016

High School Junior Students Need To Plan For College Now

Financial Aid Awards

Any high school student that is junior needs to start a plan now to reduce the cost of college.  Beginning this summer, here are five things you should be doing to get ready for college:

Research & Visit Schools

If you haven’t already begun visiting colleges, you should get started. The summer is a convenient time to explore colleges and universities. You should also visit school web sites, attend college fairs in their area and talk to their guidance counselors about potential schools.

Continue Taking Challenging Classes

The most important factors that colleges weigh most heavily when evaluating an applicant is your grade point average and the caliber of the courses that you take. Your GPA is a greater predictor of college success than standardized test scores.

The grades that you receive your junior year will often carry more weight than earlier ones. However, you should not take classes just to get a weighted grade or that would be too difficult. You are not going to impress anybody by getting a “C” in AP Calculus.

Know What College(s) You and Your Parents Can Afford

Sit down with your parents to discuss what is going to be expected from you and them in affording a particular school(s). Knowing ahead of time what your family can really afford will allow a more efficient college search.

Check Out Net Price Calculators

When researching schools, use a school’s net price calculator, which is located on the institution’s website keeping in mind the majority of calculators are not totally accurate. However, they will give you a sense of what to expect.

Take the SAT and or ACT

If your score for the ACT and or SAT are disappointing, consider looking at schools that are test optional. About a third of the nation’s 100 top liberal arts colleges are SAT and ACT optional.

Next Steps

If you would like more information on any aspect of your college pursuit, please contact our office. With our 26 years of experience, we are able to inform you on what you should expect from a particular 4 year state or private university in the United States.

Filed Under: High School Planning Tagged With: , ,
April 18, 2016

How To Avoid Financial Aid Awards That Shrink Every Year

Financial Aid Awards

Many parents approach me after their son or daughter has started their private or public school education and ask how to avoid financial aid awards that shrink every year. Assuming the decrease in aid was not do to financial reasons, here are some suggestions for parents and students to avoid the trap:

  • After receiving your financial aid offer for the first year and before you commit to the college, ask them what you can expect from them in the following years
  • Keep your grades up. If the student retains a high GPA, it will be less likely the school will play money games with your financial aid awards
  • Like the GPA, get involved with school activities and be an asset to the college
  • If the college is still playing the game, the student may want to consider one of the college’s rival schools. Many colleges don’t want to lose students to their competitors due to only issues to financial aid awards
  • The family may want to consider retaining a trained and proven financial aid expert. This person will be able to negotiate with the college to better their award

If you are like most parents you are well-intentioned in attempting to maximize the financial aid for your family without help. College Aid Consulting Services has over 26 years of experience working with federal institutions, colleges, universities and others that decide how much money you will receive. If you are reading this we hope you take advantage of our complimentary consultation and contact us today.

Filed Under: College Life Tagged With: , , , ,
April 1, 2016

When Financial Aid Offers Doesn’t Meet Expectations

College Financial Aid Offers

Since early March our students started to receive their initial financial aid offers from various colleges. Like previous years, many of the financial aid offers are not meeting the appropriate need for the student based on one of the three formulas that colleges utilize. We review all of our student’s awards and if we feel the college can do better, we will then initiate a proven approach of communication with the college(s) to increase the amount of gift-aid originally offered. Over the last two weeks our students have been receiving their amended awards that contain more financial aid.

Families who do not utilize professional guidance are more likely not receive a magnanimous award(s). If you would like our staff to review your award letters, please contact our office. The bottom line here is, the more families know about the true aspects of the financial aid process , the less money out of their pockets for a college education.

Contact Us For A Complimentary Consultation

Filed Under: News Tagged With: , , , ,
Google+