Category Archives: FAFSA

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Debt-Free College Training—Fast and Easy

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Watch just one of the short, succinct video trainings below, and you’ll be on the fast track to getting the kids you love through college debt-free. 

debt-free college

If you’ve got a bright, capable middle schooler or high schooler headed for college—you’re probably wondering, “How are we going to pay for that?”

You’re especially thinking this if your kid isn’t a likely candidate for scholarships, you haven’t saved for college, and you make too much money to get government financial aid. (Or you think you do.)

You absolutely don’t want mountains of student loan debt for the kids you love.

Is there hope for getting your kids through college debt-free?

Yes.

But you’ll need someone to guide you.

Your journey toward debt-free college starts right here, right now.

Watch just one of the short videos below, and you’ll get a jump-start on getting the kids you love through college debt-free, and into jobs they love afterward.

Watch, and then share with the friends who’ll be with you on this journey.

(These fun, informal videos were made in the studio where I record my podcasts, but they are not technically podcast episodes. You can find Episode 1 of my podcast here.)

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College Financing: Should Kids Just Do It Themselves?

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Some parents try to save a little time, energy, and money by putting their kids in charge of planning their own college financing. 

“She’s nearly an adult—let her figure it out herself and live with the consequences,” some parents think.

But—is it actually a good idea to put kids in charge of college financing?

The purpose is to make parents consider whether it's a good idea for kids to handle their own college financing.

The answer? An emphatic no.

Parents, please—don’t put kids in charge of college financing.

No matter how busy you are, and no matter how bright and capable your son or daughter seems to be—please take charge of the college financing task yourself.

Figuring out college financing is too complex a task for kids.

Parents, though—you can do it!

Especially with the clear, step-by-step help I provide below.

Your teen’s brain is not yet ready for the task of college financing.

Studies show that before the age of 24, the dorsolateral prefrontal cortex of the adolescent brain is not developed sufficiently to be able to succeed at large-scale tasks requiring high-level evaluation of risk and preparation for the future. 

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How Filling Out the FAFSA Protects Your Kid

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Filling out the FAFSA (Free Application for Federal Student Aid) sounds like the best deal in the world. 

Honestly.

You as a parent spend just a little bit of time entering information into a clear, safe online form, and a kid you love magically gets put in line for free money to help pay for college.

Magically—in just minutes—your kid’s in line for nine separate federal student aid programs, over 600 state aid programs, and most of the college-based (institutional) aid available in the United States.

So why do some parents balk at filling out the FAFSA?

The biggest reason I hear from parents who aren’t filling out the FAFSA is, “We’re not gonna get anything anyway…”

Really?

Are you 100% sure about that?

Quick, read this article I’ve written on 7 Reasons to Fill Out the FAFSA Even If You’re Rich.

After you do, consider this very important reason that even the wealthiest families should be filling out the FAFSA:

Filling out the FAFSA protects your kid in the event of unforeseen family setbacks.

filling out the FAFSA

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Should You Fill Out the FAFSA on Your Phone?

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Should you fill out the FAFSA on your phone?

On October 17th, 2018, I was invited to guest post on the blog of Certified Financial Planner™ Mike Branch of Focus Financial in Minneapolis. Mike has been an extraordinary mentor to me as I’ve plumbed the depths on how to get kids through college debt-free. You can find Mike at Focus Financial in Minneapolis, on the Approved Consultants tab on this website, or at one of the many FAFSA info sessions he presents in high school auditoriums each year. 

The guest post I wrote for Mike is below.

Are you parenting a student of any age who’ll be in college next fall? If so, one of your most important tasks this year will be to fill out the Free Application for Federal Student Aid (FAFSA) as soon after October 1st as possible. This applies to every student and every parent—no exceptions.

Are you convinced that for you, filling out the FAFSA will be a waste of time—because you make far too much money to qualify for any college aid? Check out this article on 7 Reasons to Fill Out FAFSA Even if You’re Rich.

And then get out your smartphone.

As of October 1st, 2018, you can fill out the FAFSA on your phone.

For years, students and parents filling out the FAFSA were required to complete the form using desktop computers. In 2018, though, a new, mobile-friendly version of FAFSA was released.

Here, 8 things you’ll need to know before you fill out the FAFSA on your phone.

1. It’s a little easier to avoid overwhelm when you fill out the FAFSA on your phone, because you see only one question per screen.

2. Families can start filling out the form on one device, and finish it on another.

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Manage All Your Kids’ College Planning—Mostly By Yourself

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If you’re concerned that you’re currently LATE to college planning, read this article now.

college planning

College planning can feel like being lost in a jungle. And sadly, your kid’s high school guidance counselor (nowadays more properly called a “school counselor,”) can’t help much with hacking through the underbrush. Oh, he or she would love to, but budget cuts have slashed the amount of time counselors get to spend with college bound students, in some cases down to just eight minutes per year.

And your child, smart as he is, isn’t in any position to handle the complexity of college planning either. The stakes are high, both financially and career wise, and his brain won’t be fully developed until age 24.

And the internet? You sure don’t want to depend on the internet for college planning advice.

Don’t rely on the internet for college planning advice.

It’ll take you years to sift through everything the internet has to say about college planning. The bits and pieces of info and conflicting messages you hear from online resources will drive you insane. Plus, a huge percentage of what’s currently on the internet regarding college planning is sorely out of date, since President Barack Obama drastically changed US college financing on September 13th, 2015, and most of the world has not yet caught up.

You need a resource that will give you fast, accurate, specific instructions that the internet can’t provide. (I’ll provide a resource for you, below.)

7 things to do when you feel lost in the jungle of college planning

1. Don’t put off college planning because you feel overwhelmed.

I understand that you feel overwhelmed by the college planning process. Every parent does. But if you wait until your kid’s sophomore or junior year of high school to get started on college planning, 75% of the strategies you could have used to get your kid through college debt-free will be gone. Starting early is the best strategy, even if you can’t save a penny.

(If you’re worried that you’re currently late to college planning, read this article now.)

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What Happens to Student Loan Debt After You Die?

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No parent wants to consider this — but what happens if one of your children runs up $80,000 in student loan debt, and then perishes in a car accident or dies of cancer? Will your grief be compounded by having to make years (decades!) of student loan payments, until the student loan obligation is paid in full? Every parent needs to be clear on the answer to this question: “What happens to student loan debt after you die?”

The answer is scary, but — there’s great hope for those who can plan ahead just a bit.

What happens to student loan debt after you die?

First, the good news, then the bad news.

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Can Parents Call the College Financial Aid Office?

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If you’re parenting a teen, there’s a good chance that sometime during the winter of your child’s senior year of high school, you’re going to be flipping through documents called “financial aid award letters.”

You’ll have a “financial aid award letter” from every college that’s accepted your child—as long as you’ve filled out the FAFSA financial aid form (which you should absolutely do, even if you’re rich).

When you’re sifting through three or four financial aid award letters, how do you compare them?

financial aid

This article is going to help you with that important task. As a starting point, let’s look very briefly at what financial aid award letters are, and what the problem tends to be with them.

Financial aid award letters tell you how much money you’ll be expected to pay for the education at each college. 

Sounds great, right? This is the point where you get to know the actual price tag for each school. This is where you find out which college is offering your daughter the best deal.

The problem is that financial aid award letters are notoriously difficult to interpret and compare. 

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7 Reasons to Fill Out FAFSA — Even If You’re Rich

FAFSA Is Live as of October 1st

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You’d love for your son to get loads of free money financial aid to help him pay for college, but you’re pretty sure he won’t qualify for much. Your family lives comfortably, after all. You aren’t poor.

You wonder if filling out financial aid forms is even worth your time.

Seven Reasons Filling Out the FAFSA Is Well Worth Your Time.

1. You can have a high income and still qualify for help.

You make over $200,000 per year and have significant assets? Your kid can still get free “gift aid” money to help pay for college. I’m talking about free money that need never be paid back.

Because this is true, plan to fill out the FAFSA form every October 1st that you’ll have a kid in college the following fall. Put this October date on your calendar now, so you can put your kid(s) first in line for all the financial aid money they have coming.

FAFSA

2. The FAFSA isn’t just about getting PELL grants. 

Filling out the FAFSA puts your child in line for nine separate federal student aid programs, over 600 state aid programs, and most of the college-based (institutional) aid available in the United States.

Every year, people who were sure they were too well-off to qualify for any kind of aid are stunned to see what kind of generous help they actually qualify for at some colleges.

3. The FAFSA considers many more factors than just your income.

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Want More College Money? Avoid These Costly FAFSA Mistakes

Fill Out FAFSA as Early as Possible For Best Results

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If you’ll have one or more kids in college next fall—please plan to get your family first in line for financial aid money by filling out the FAFSA financial aid form as close to this coming October 1st as you possibly can. You read that right—11 months in advance. Are you tempted to skip filling out FAFSA because you assume you make too much to qualify for aid for college? Quick—right now—read my article 7 Reasons to Fill Out FAFSA Even If You’re Rich. Then use the instructions below to get every penny of the college money your kids have coming.

Tell everyone you know—avoid these common FAFSA mistakes.

Today I’m featuring a list of 30+ mistakes that parents make when filling out the FAFSA form. These mistakes cost U.S. families millions in lost college financial aid money each year.

To make sure your kids get every penny they have coming to them, download and print my list of common FAFSA mistakes here: 30+ Common FAFSA Mistakes and How to Avoid Them. (This link won’t open on some phones. If that happens to you, please open it on your desktop computer.)

Share this post with everyone you know who cares about kids who’ll be in college next year, and then have the printout handy on your desk when you’re filling out your own FAFSA form.

FAFSA mistakes

You’ll get instant answers to questions such as: 

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Divorced? Perhaps Do This by Sept 30 and Save a Bundle on College

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Are you divorced from your child’s other parent?

If so, there are specialized strategies you can use to reduce your kids’ future college costs.divorced

Here’s just one.

1. Figure out which of your child’s parents has the lower household income.

Is it you, or is it your ex-spouse? (Be sure to include the income of any new spouses when you calculate this income amount.)

2. Ask yourself, “Could my daughter possibly go to live with her lower-income parent, starting on September 30th of her 11th grade year?”

Think, would it be safe and healthy for your daughter to sleep 183 nights (or more) at her lower-income parent’s house between September 30th of her 11th grade year and September 30th of her 12th grade year?

Could she keep up this living arrangement until she goes away to college?

There are dramatic financial aid benefits for divorced parents who do this.

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