What Can We Learn From The FAFSA Ordeal?
College Counselors Jodi Foxx and Tom Stepkoski share their insights
On a recent episode, I discussed the Impact of FAFSA Delays on students, with College Counselors Jodi Foxx of Charlotte Christian School, NC and Tom Stepkoski of Westhill High School, CT.
One topic we discussed was the learnings from these delays and fiasco. Here is an edited version of that conversation:
1.Start College Financing Discussions Early
Tom S:
The biggest takeaway, and we say it every year, to our sophomores and juniors, please start having those college financing discussions with your family.
2.Discuss Scenarios
Tom S:
We know that in two years, your financial situation with your family may change.
But you really always need to keep that discussion ongoing with your family,
Even do some pretend scenarios.
And don't be afraid to go on to the college websites and use their calculators, because by law, they have to have the financial aid calculator there.
3.Using Net Price Calculators
Jodi F:
You know, one positive is that I have said the phrase “Net Price Calculator” so many more times this year than I usually do.
I point families to it fairly regularly, but it's just come up a whole lot more. And that I think, is a really good thing.
Because that is such a useful tool.
Every college has one on their website, and
It can give families a pretty accurate picture factoring in both Need-based aid and Merit aid to understand,
What is the net price of this place going to be?
That is such a good tool, and I love that it's gotten a little more attention.
Now, due to the FAFSA ordeal,
People have had to rely on the Net Price Calculator,
Whereas before, they were just kind of using it as a resource if they wanted to!
So, moving forward, hopefully we see more people aware of, and using Net Price Calculators in College Planning.
4.Know Your Number
Tom S:
Let’s say you have 5 school acceptances.
Use the Net Price Calculators on those College Websites, and
Talk to your family and
Find out Your Number.
That is, What you can pay, and therefore How much aid you need.
And have that discussion before you actually get that acceptance letter..
So, that's a learning that should happen regardless!
5.More Students Can Go To College
Jodi F:
Hopefully all of these changes to the FAFSA really do result in more students being able to afford college.
They're changing the Pell eligibility,
There's the potential for some real positive outcomes here,
The jury, though, is still out, on what this is going to do, to help middle-class families.
“We'll see! We'll see!”
What do you think about this article? Please give me feedback or leave a comment to let me how I am doing.
Thanks.
Finally, my heartfelt Thanks to all my Podcast guests who have been generous with their time and counsel on my Podcast.
Have a wonderful week!
Venkat