Heading off to college is a milestone event for students and parents, but navigating the admissions process and financing a degree is not a simple undertaking. Post-secondary education is one of the largest investments people make in life, and today’s guest on Love, your Money® is here to explain how getting a little help through the process can lead to better outcomes.
Heidi King is part of the team at College Inside Track, an organization that helps families navigate the college process, find the right fit, and get the best price at the schools they’re considering.
Heidi is no stranger to the college process, as she recently went through it herself with her two sons. She is considered a national subject matter expert on college planning, and provides valuable advice to thousands of families.
In this conversation we talked about who should apply for FAFSA, myths or common mistakes that make college pricier, and some of the questions our clients at Hendershott Wealth Management® typically ask about college planning.
Whether you’re barely starting to think about college or you’re elbows deep in applications, we hope this episode sheds some light on the process–and maybe helps your kid secure a few more scholarships!
Here’s what you’ll learn in this week’s episode of Love, your Money:
- 02:41 First, notes from our Director of Financial Planning, Jen Rupp, on 529 accounts: The benefits of a 529, what the money can be used for, how we recommend funding a 529, options for how the money can be used if not for education, and age-based investment options within a 529
- 08:33 Who’s actually planning for college–parents or students?–and when to start thinking about the application process
- 10:08 The cost of going to college (including the most expensive universities out there), how much parents should consider saving, and the potential of flexibility in admission fees
- 12:53 How College Inside Track works with parents and students to consider academic, social, and financial fit–and improve outcomes in the admissions process
- 16:02 When the FAFSA becomes a consideration, who should fill it out (hint: pretty much everyone!), and how colleges use FAFSA data
- 20:48 Determining key criteria in targeting schools to apply to, why finding the right fit can prevent transfers, and the biggest predictors of students’ success in school and life (Spoiler: it’s not pedigree or the degree)
- 25:41 The single best source of scholarships, plus the myths and misunderstandings that cause families to leave money on the table
- 31:13 The challenges of the college application process once you’re past the football games and campus visits
Show Notes
To get access to the full show notes, including all the resources mentioned, visit: https://hendershottwealth.com/podcast/heidi-king
Follow Hilary on:
Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
Ruthie's Table 4
For more than 30 years The River Cafe in London, has been the home-from-home of artists, architects, designers, actors, collectors, writers, activists, and politicians. Michael Caine, Glenn Close, JJ Abrams, Steve McQueen, Victoria and David Beckham, and Lily Allen, are just some of the people who love to call The River Cafe home. On River Cafe Table 4, Rogers sits down with her customers—who have become friends—to talk about food memories. Table 4 explores how food impacts every aspect of our lives. “Foods is politics, food is cultural, food is how you express love, food is about your heritage, it defines who you and who you want to be,” says Rogers. Each week, Rogers invites her guest to reminisce about family suppers and first dates, what they cook, how they eat when performing, the restaurants they choose, and what food they seek when they need comfort. And to punctuate each episode of Table 4, guests such as Ralph Fiennes, Emily Blunt, and Alfonso Cuarón, read their favourite recipe from one of the best-selling River Cafe cookbooks. Table 4 itself, is situated near The River Cafe’s open kitchen, close to the bright pink wood-fired oven and next to the glossy yellow pass, where Ruthie oversees the restaurant. You are invited to take a seat at this intimate table and join the conversation. For more information, recipes, and ingredients, go to https://shoptherivercafe.co.uk/ Web: https://rivercafe.co.uk/ Instagram: www.instagram.com/therivercafelondon/ Facebook: https://en-gb.facebook.com/therivercafelondon/ For more podcasts from iHeartRadio, visit the iheartradio app, apple podcasts, or wherever you listen to your favorite shows. Learn more about your ad-choices at https://www.iheartpodcastnetwork.com
Dateline NBC
Current and classic episodes, featuring compelling true-crime mysteries, powerful documentaries and in-depth investigations. Follow now to get the latest episodes of Dateline NBC completely free, or subscribe to Dateline Premium for ad-free listening and exclusive bonus content: DatelinePremium.com