Smart College Buyer
Strategic guidance to the college admissions and college financial aid process for students and families curious about funding higher education. By planning ahead, understanding what the admissions offices at your target universities are looking for, and familiarizing yourself with the financial aid process, you can streamline the college experience and avoid any last-minute surprises that could impact your ability to pay for college. No more wondering “How am I going to pay for college?” From scholarships to grants to loans, and the options at each school across the US, knowing your options and how to access them can help you focus on getting the best college education in your desired field rather than worrying about mounting college expenses. Jack Wang is your guide to financial aid strategies, selecting the best school for your interests, and creating an affordable plan for your family, maximizing the experience for all involved. Don’t get caught playing checkers while the universities are playing chess! Listen here every-other-week as we break down the essential steps and strategies around college financial aid and admissions.
Episodes
Planning for your child's college education can be a daunting task, but utilizing a 529 plan can make it a little easier. These tax-advantaged savings plans are specifically designed to help families save for future education expenses. One option within the 529 plan umbrella is the College Well Private College 529 Plan, which offers its own set of unique advantages.
529 Plans: A Potential Long-Term Solution for Educational Expense...How do factors like major, gender, and ethnicity influence whether your child receives financial aid?
Understanding the typical college business model is crucial. The college financial aid formula is a multifaceted and strategic system that determines how aid is distributed to students. It comprises loans, scholarships, and other forms of gift aid. Highly competitive schools prioritize need-based aid over merit scholarships.
"Th...
Financial education in youth sets the stage for a lifetime of financial responsibility.
Teaching teens to save for emergencies is vital for unexpected costs. Unfortunately, most teens don’t want to listen to their parents...that’s where a financial coach who specializes in budgeting for teens and young adults comes in.
Colleen Salchow of Salchow Coaching patiently works with teenagers to set aside money for unexpected expenses c...
Paying for college extends beyond the simple calculation of tuition and fees, encompassing a range of hidden expenses that many prospective students and their families often overlook. Jack Wang offers a nuanced perspective on this topic by highlighting the often-ignored costs such as taxes, interest, and opportunity costs, which can significantly inflate the overall financial burden of obtaining a college degree.
(00:23:56) "The ...
With the right strategies and early preparation, you can maximize your child’s chances of getting into your (or their) dream school and securing scholarships. Students should begin preparing for standardized tests like the SAT or ACT well in advance, paying special attention to their grades even as a Freshman in High School. This will allow you and your student to have time to review content, practice test-taking strategies, get tu...
Do your college funding goals entail covering private tuition or a portion of in-state tuition? The answer could be the key to your “best” saving strategy.
"You can save using almost anything. There is the easy option and then there is the right or best option for your family." - Jack Wang (00:19:53)
There are various opportunities for tax-sheltered college savings account like 529 plans and IRAs, plus unconventional options lik...
Did you know there are over 80 student loan forgiveness programs in the US?
While student loan forgiveness programs are great, it’s imperative to understand the eligibility requirements and have open discussions about the costs and value of higher education expenses. Federal and Private student loans should be treated differently, and all student loans should be treated differently than other consumer, car, or home debt.
Robert...
The topic of college affordability has become increasingly pressing as tuition costs continue to rise, leaving many families grappling with the challenge of financing higher education.
The best thing you can do for your college-bound teen is plan for college expenses using 3 critical financial figures:
- What colleges expect you to pay
- What you can realistically afford
- What you are willing to spend
"The reason thes...
Don’t JUST rely on your child’s high school counselor for advice on college admissions and financial aid.
Planning for college should begin early, ideally in the freshman year of high school, with a focus on understanding the financial aspects that influence financial aid eligibility. Junior year is a pivotal time for taking the PSAT and exploring college options, while senior year is dedicated to completing applications and fina...
Financial aid formulas can often feel like a daunting and mysterious process when applying for college. With terms like FAFSA, CSS, and need-based aid eligibility floating around, it's easy to feel overwhelmed. However, understanding how these formulas work is crucial for securing the financial assistance you need to pursue higher education.
Jack Wang advocates for early and strategic financial planning, emphasizing the importance...
With tuition costs skyrocketing and student debt becoming a major concern, it's more important than ever to have a game plan when it comes to funding your education.
Through firsthand experiences visiting colleges and engaging with admissions and financial aid officials, Jack Wang underscores the importance of being proactive and informed in securing financial assistance effectively.
As a student or parent, you may be feeling o...
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