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College Financial Aid Advisors

College financial aid advisor Jodi Okun shares what you need to know before you borrow student loans for college

What You Need to Know Before You Borrow Student Loans

Pay for College, Student Loans / By

Borrowing student loans is a significant financial decision that can have long-lasting implications on your student’s future. While loans can help make higher education more accessible, it’s crucial to approach borrowing with careful consideration and awareness. Before you and your student sign on the dotted line, here are several essential things to know about student loans. Understand the Types of Loans Available Student loans come in two primary forms: federal loans and private loans. Federal loans, provided by the government, typically offer lower interest rates and more flexible repayment options than private loans. Private loans, offered by banks or other financial institutions, may have higher interest rates and less favorable terms. Know the Difference Between Subsidized and Unsubsidized Loans Federal student loans are further categorized as subsidized or unsubsidized. Subsidized loans are need-based, and the government pays the interest while in school and during certain deferment periods. Unsubsidized loans accrue interest from the time they’re disbursed, and you’re responsible for all interest payments. Familiarize Yourself with Loan Terms and Conditions: Before accepting any loan offer, carefully review the terms and conditions. Pay attention to the interest rate, repayment options, grace period, and any fees associated with the loan. Understanding these details will help you make informed decisions and avoid surprises down the road. Estimate Future Loan Payments Use loan calculators or online tools to estimate your student’s future loan payments based on the amount borrowed, interest rate, and repayment term. This exercise can give you a realistic picture of what your monthly payments will be after graduation and help you plan accordingly. With this knowledge, look at potential future paychecks and determine if that’s reasonable.  Explore Federal Loan Benefits Federal student loans offer various benefits that can ease the burden of repayment. These include income-driven repayment plans, loan forgiveness programs for eligible professions, deferment and forbearance options, and the possibility of loan consolidation. Understand how these benefits may apply to your situation. Consider Future Earning Potential Before taking on student loan debt, consider your student’s expected future earning potential in your chosen field of study. Will your projected income allow you to comfortably manage loan payments after graduation? Research salary data for your desired career path to gauge whether borrowing is a wise investment. Borrow Responsibly Only have your student borrow what they need to cover essential education expenses. Resist the temptation to borrow more than necessary, even if they’re offered additional loan funds. Remember that every dollar borrowed accrues interest, increasing the total amount you’ll need to repay over time. Explore Alternative Funding Sources  Exhaust all other financial aid options, such as scholarships, grants, work-study programs, and savings, before turning to student loans. Every dollar your student can secure through non-loan sources reduces their future debt burden. I recently shared 10 creative ways to fund college – check them out here!  Stay Informed and Communicate with The Loan Servicer Encourage your student to keep track of their loans, stay informed about changes in repayment terms or benefits, and communicate regularly with their loan servicer. If you or your student encounter financial difficulties, don’t hesitate to reach out and explore available options for managing your loans. Borrowing student loans is a major decision that requires careful consideration and planning. By understanding the types of loans available, familiarizing yourself with loan terms and conditions, estimating future loan payments, exploring federal loan benefits, considering your future earning potential, borrowing responsibly, exploring alternative funding sources, and staying informed, you can make informed decisions about financing higher education while minimizing the long-term impact of student loan debt. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Jodi Okun, college financial aid expert, breaks down what to consider when deciding on loans for college

Deciding on Financial Aid Offers: Do You Really Need All Those Loans?

Financial Aid, Pay for College / By

Receiving a financial aid offer can be both exciting and overwhelming for college-bound students and their families. While grants and scholarships provide much-needed assistance, loans often make up a significant portion of the aid package. However, before accepting those loans, it’s essential to carefully evaluate whether they are truly necessary. Let’s delve into the intricacies of financial aid offers and explore whether you really need all those loans. Understanding Financial Aid Packages: Financial aid packages typically consist of a combination of grants, scholarships, work-study opportunities, and loans. Grants and scholarships are considered “gift aid” because they do not need to be repaid, making them the most desirable forms of financial assistance. On the other hand, loans require repayment, often with interest, adding to the overall cost of education. Assessing Your Financial Need: Before accepting any loans, it’s crucial to assess your actual financial need. Start by calculating the total cost of attendance, including tuition, fees, room and board, books, and personal expenses. Then, subtract any grants, scholarships, and other sources of income to determine your remaining need. This exercise will help you understand how much you truly require in loans to cover your expenses. Exploring Alternative Funding Sources: Instead of immediately turning to loans to bridge the financial gap, consider exploring alternative funding sources. Look for additional scholarships, grants, and work-study opportunities that may be available through your college, community organizations, or private foundations. Every dollar you can secure through non-loan sources reduces your future debt burden. Evaluating Loan Options: If loans are necessary to finance your education, evaluate your loan options carefully. Federal student loans typically offer more favorable terms, such as fixed interest rates and flexible repayment options, compared to private loans. Additionally, federal loans may qualify for income-driven repayment plans and loan forgiveness programs, providing valuable assistance post-graduation. Borrowing Wisely: When borrowing student loans, it’s essential to borrow only what you need and not the maximum amount offered. Remember that every dollar borrowed accrues interest over time, increasing the total amount you’ll need to repay. Consider your future earning potential and how manageable your loan payments will be after graduation. Aim to keep your total student loan debt at a reasonable level relative to your expected income. Seeking Financial Counseling: If you’re uncertain about your financial aid package or how to proceed, consider seeking financial counseling (like what I do!). Spots for the 2025-2026 school year are open and are going quickly. If you want to chat about your personal situation and plans, schedule a 15 Minute Power Chat to learn more and see if you’re a good fit to work with me! While financial aid offers can provide much-needed assistance, it’s essential to critically evaluate whether you really need all those loans. Remember that minimizing student loan debt now can lead to greater financial freedom and security in the future. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial aid expert Jodi Okun shares must have conversations with your college student before their first tutition payment is due

Must Have Conversations with Your Student Before the First Tuition Payment

Preparing for College / By

Sending your child off to college is a significant milestone, both for you and your student. As the first tuition payment looms, it’s essential to have open and honest conversations about various aspects of college life. These discussions can help set expectations, clarify responsibilities, and ensure a smooth transition into this new phase of life. Here are some crucial conversations to have with your student before that first tuition payment is due: Financial Planning and Budgeting: Discuss the financial aspects of college, including tuition, fees, room and board, and personal expenses. Help your student understand the cost of attendance and the resources available for covering these expenses, such as scholarships, loans, and savings. Teach them basic budgeting skills and encourage responsible spending habits. Educational Goals and Expectations: Talk to your student about their academic interests, goals, and expectations for college. Discuss the importance of attending classes, seeking academic support when needed, and maintaining a healthy balance between academics and extracurricular activities. Encourage them to explore different majors and career paths while staying open to new opportunities. Time Management and Organization: College life can be busy and demanding, so it’s crucial to discuss the importance of time management and organization. Help your student create a schedule that includes time for studying, attending classes, socializing, and self-care. Emphasize the importance of staying organized with assignments, deadlines, and important dates. Health and Wellness: Prioritize discussions about physical and mental health before your student heads off to college. Talk about the importance of eating well, getting enough sleep, exercising regularly, and seeking support if they’re struggling with stress, anxiety, or other mental health issues. Familiarize them with the campus health services and resources available for support. Personal Safety and Responsibility: Address safety concerns and emphasize the importance of personal responsibility. Discuss topics such as alcohol and drug use, sexual health, consent, and campus safety protocols. Encourage your student to make smart decisions, look out for their peers, and seek help if they find themselves in risky situations. Communication and Support Systems: Maintain open lines of communication with your student and encourage them to reach out if they need guidance or support. Discuss how often you’ll check in and establish alternative communication methods, such as phone calls, texts, or video chats. Encourage your student to build a support network of friends, mentors, and campus resources. The more support your student feels they have, the better!  Career Planning and Internship Opportunities: Start conversations about post-college plans early on, including career goals and aspirations. Encourage your student to explore internship opportunities, networking events, and career development resources available through the college. Discuss the importance of gaining practical experience and building a professional network while in school. Before the first tuition payment is due, take the time to have meaningful conversations with your student about the various aspects of college life. By providing guidance, support, and encouragement, you can help your student navigate the transition to college with confidence and resilience. Congratulations on this exciting transition!!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial aid advisor Jodi Okun shares 10 creative ways to cover your students college costs - from scholarships to a side hustle

10 Creative Ways to Cover Your College Costs

Pay for College, Scholarships / By

Navigating the financial hurdles of college can be daunting, but there are numerous creative strategies to help ease the burden. From scholarships to unconventional gigs, there’s options available to resourceful students (and their families). I know that closing the gap between what aid is being offered and what your family can provide can feel tricky. So, here are ten creative ways to cover your students college costs: #1: Apply for Scholarships and Grants Start by researching scholarships and grants offered by various organizations, institutions, and even local businesses. There are scholarships for almost everything – from academic achievements to unique hobbies and backgrounds. Don’t underestimate the power of smaller, niche scholarships; they can quickly add up and significantly reduce your student’s expenses. The best part is that scholarships are free money and don’t have to be paid back!  #2: Freelance or Remote Work Encourage your student to leverage their skills by freelancing in their spare time. Whether it’s graphic design, writing, coding, or tutoring, there are platforms where they can offer services remotely. Websites like Upwork, Fiverr, and Tutor.com provide opportunities to earn extra income on your own schedule. This can even continue while at school, if it’s beneficial for your student.  #3: Participate in Research Studies Many universities conduct research studies and clinical trials and are often in need of participants. These studies can range from psychological experiments to medical trials. While compensation varies, it’s a unique way to earn money while contributing to scientific advancements. #4: Utilize Crowdfunding Platforms Websites like GoFundMe and Kickstarter aren’t just for entrepreneurs; they can also be used to raise funds for educational expenses. Create a compelling campaign outlining your educational goals, financial situation, and why you need support. Share it with friends, family, and your social network. Your family may even consider doing this in lieu of graduation gifts.  #5: Become a Resident Assistant (RA) Many colleges offer free or reduced housing for students who serve as resident assistants. In addition to saving on housing costs, RAs often receive stipends or tuition waivers. It’s a great way to build leadership skills, make connections, and offset living expenses. At some schools, these positions are only available for upperclassmen, so just check out the schools’ requirements and keep it as an idea after freshman year, if necessary.  #6: Rent Out Your Space If your family has an extra room or property near your college campus, consider renting it out to fellow students or through platforms like Airbnb during peak tourist seasons. This can provide a steady stream of income to help cover your own housing expenses. Renting is also a great option at home, if your student’s space is open!  #7: Explore Work-Study Programs  Work-study programs provide part-time employment opportunities for students with financial need. These jobs are often located on campus and can range from administrative roles to positions related to your field of study. Not only do they provide income, but they also offer valuable work experience. Schedules can often be crafted around their classwork, so it’s a great option if your student can handle it!  #8: Start a Side Business Tap into your student’s entrepreneurial spirit by letting them start a side business. From selling handmade crafts online, offering pet sitting services, or creating a niche blog with affiliate marketing, there are countless ways to generate income outside of traditional employment. #9: Take Advantage of Employee Benefits:  If your student is currently employed, check if their employer offers tuition reimbursement or educational assistance programs. Some companies provide financial assistance for employees pursuing higher education relevant to their job or career advancement. #10: Negotiate Financial Aid: Don’t hesitate to negotiate with colleges regarding financial aid packages. If your student received offers from multiple institutions, use them as leverage to request more favorable terms. Colleges want to attract talented students, and they may be willing to offer additional grants or scholarships to make their school more affordable for you. Read more of my tips on negotiating financial aid packages here!  While the cost of college can be overwhelming, there are numerous creative strategies to help finance your education. By combining some of these unique ideas, you can significantly reduce your out-of-pocket expenses. Remember to explore all options, stay proactive, and don’t be afraid to think outside the box when it comes to covering your college costs!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

10 Essential Tips for Enrolling in College so freshman year is stress-free, shared by college financial advisor Jodi Okun

10 Essential Tips for Enrolling in College For Your Student After Choosing Their Dream School

Preparing for College / By

Congratulations! Your student made the exciting decision to attend their dream college. As they embark on this thrilling journey, navigating the enrollment process smoothly is crucial to ensure a seamless transition into campus life. Taking care of enrollment allows their first few days at college to feel exciting and not bogged down with stress!  To help your student along the way, here are ten essential tips for enrolling in college at their dream school!  Review Admission Requirements: Take a thorough look at the admission requirements outlined by the college. Ensure that your student has met all criteria and completed any necessary documentation before proceeding with enrollment. Submit Required Documents Promptly: Whether it’s transcripts, test scores, or recommendation letters, make sure to submit all required documents promptly. Missing deadlines could delay the enrollment process. Understand Financial Aid Options: Familiarize yourself and your student with the financial aid options available at the college. Explore scholarships, grants, and student loans, and don’t hesitate to reach out to the financial aid office for guidance. Remember to review any payment requirements with your student so they know what they’re responsible for.  Complete the FAFSA: Complete the Free Application for Federal Student Aid (FAFSA) as soon as possible. The information provided in the FAFSA determines eligibility for various types of aid, so don’t delay. Explore Housing Options: Research the housing options available on campus and off-campus. Determine which option best suits your student’s experience, preferences and budget, and submit any required housing applications within the specified deadlines. Not all schools allow freshmen to live off-campus, so check requirements carefully.  Register for Orientation: Most colleges offer orientation programs for new students to acquaint them with campus life, academic programs, and support services. Your student should register for orientation sessions as soon as possible. It can be a great way to meet fellow students, too!  Meet with an Academic Advisor: Your student should schedule a meeting with an academic advisor to discuss their academic goals, course requirements, and potential major. They can help you plan your class schedule for your first semester and provide valuable guidance throughout the college journey. Attend Admitted Student Events: Take advantage of any admitted student events or receptions offered by the college. These events provide an opportunity to connect with current students, faculty, and fellow incoming freshmen, giving you a glimpse into campus life. There are often events for both families and students.  Stay Organized: Encourage your student to keep track of important dates, deadlines, and tasks related to enrollment using a planner or digital calendar. Staying organized will help ensure that they don’t overlook any critical steps in the enrollment process. Ask Questions: Don’t hesitate to ask questions if you’re unsure about any aspect of the enrollment process. Whether it’s regarding financial aid, housing, or academic requirements, college staff and advisors are there to assist you and your student every step of the way. Enrolling in college is an exciting milestone, and by following these essential tips, your student will be well-prepared to start their academic journey at your dream school. Your student should stay proactive, informed, and engaged throughout the enrollment process, and embrace the opportunities and experiences that await them in college. Congratulations again, and best of luck to your new college student on their college adventure! More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

Jodi Okun, college financial aid advisor, shares why the college portal check-in is your student's key to application success

The College Portal Check-In: Your Key to College Application Success

Financial Aid / By

In the fast-paced world of college life, staying on top of tasks and deadlines can sometimes feel like trying to catch a speeding train. However, one tool that can make this journey smoother is often right at your student’s fingertips: the college portal. Your student’s ability to regularly monitor their college portal is essential to their application process, especially when it comes to staying updated and informed about financial aid tasks and deadlines. In a year like this one, it has become an even more important task for students applying to college!  Financial Aid for College The college portal is like a digital command center, providing access to essential resources, announcements, and updates pertinent to your student’s academic journey. One area where its significance truly shines is in managing financial aid. For numerous students, financial aid is the bridge between aspiration and achievement. Whether it’s scholarships, grants, or loans, these resources often make higher education attainable. However, securing financial aid isn’t a one-time task; it requires ongoing attention and action. Your College Portugal’s Role in Financial Aid Management The college portal serves as the gateway to financial aid information. Here’s why regularly checking in is vital: Stay Informed: Financial aid deadlines, application statuses, and award notifications are frequently updated on the portal. By regularly checking in, your student will stay on top of any changes or requirements that come up. Proactive Planning: Knowing when deadlines are approaching allows your student to plan ahead. Whether it’s completing forms, submitting documents, or seeking additional assistance, staying proactive is key to avoiding last-minute stress. Tips for Regular College Portal Monitoring Now that we understand the importance of portal check-ins, I have a few quick tips to help stay on top of checking it regularly!  Set Reminders: Have your student schedule regular check-ins with the college portal. Whether it’s weekly or bi-weekly, consistency is key to staying informed. Create a Checklist: Compile a list of financial aid tasks and deadlines. Refer to it during  portal check-ins to ensure nothing slips through the cracks. Utilize Notifications: Many portals allow your student to set up email or text notifications for updates and reminders. Take advantage of this feature to stay effortlessly informed. I’m a huge fan of anything you can automate like that!  Engage with Advisors: If you or your student have questions or concerns about financial aid, don’t hesitate to reach out to their college’s financial aid office. They can provide guidance and support. If you’re still stuck with how to pay for college, I’m able to help! Schedule your FREE 15 minute call.  In the journey through college, knowledge is power, and your student’s college portal is the key to unlocking it. By embracing proactive strategies for portal monitoring, particularly concerning financial aid, you and your student are more empowered to navigate the complexities of higher education with confidence and clarity. So, remember to make the portal check-in a regular part of your student’s college routine—it could make all the difference in your success story. More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial aid expert Jodi Okun shares how to successfully file the FAFSA for college bound students

Navigating the FAFSA Maze: Your Essential Roadmap to Financial Aid Success

FAFSA, Financial Aid / By

As the gateway to federal financial aid for college, the Free Application for Federal Student Aid (FAFSA) is a crucial step for students and their families in securing funding for higher education. However, completing the FAFSA can often feel like navigating a maze, with complex forms and important deadlines to contend with. This year, in particular, has presented many students for families seeking aid for college. I hope that these steps help you feel more confident about completing your FAFSA (this year and future years!).  The FAFSA Basics: Before diving into the intricacies of the FAFSA, it’s essential to understand its purpose and importance. The FAFSA serves as the primary application for federal student aid programs, including grants, loans, and work-study opportunities. Additionally, many states and colleges use the FAFSA to determine eligibility for their own financial aid programs. The bottom line is that if you don’t file the FAFSA, you definitely won’t receive any aid for school. A common misconception is that based on a family’s life and finances, their student won’t receive aid. You honestly never know, so the best policy is to always file the FAFSA. The only sure fire way to not receive aid is to not complete the FAFSA.  How to Successfully File the FAFSA:  Gather Necessary Documents:  Before starting your FAFSA, gather important documents such as your Social Security number, tax returns, and records of untaxed income. Having these on hand will streamline the application process. The FAFSA now pulls income from your tax return, so make sure you’ve filed that before you complete the form, too.  Create an FSA ID:  Both students and parents need to create a Federal Student Aid (FSA) ID, which serves as your electronic signature for the FAFSA. This step is crucial for security and authentication purposes. If you’re a junior, now’s a great time to get your FSA ID setup so you’re ready come the fall!  Complete the FAFSA Form:  The FAFSA is available online and can be completed electronically or through a paper application. Provide accurate information about your family’s financial situation, including income, assets, and household size. If you’re struggling with the forms, consider asking a financial aid expert (like me!) or your high school counselor for help.  Review and Submit:  Take the time to review your FAFSA carefully before submitting it. Double-check for errors or missing information that could affect your eligibility for aid. Any wrong information will delay your application delivery to the schools on your list.  Follow Up:  After submitting your FAFSA, be sure to monitor your application status and respond promptly to any requests for additional information from colleges or financial aid offices. This helps ensure that your application is up-to-date and the schools can make informed decisions for your aid package.  Pitfalls to Avoid When Successfully Filing the FAFSA: Missing Deadlines:  FAFSA deadlines vary by state and college, so it’s crucial to know the specific deadlines for each institution you’re applying to. Missing deadlines could result in lost financial aid opportunities. The 2024-2025 application cycle has been absolutely wild – so don’t take this year as an example of what the cycle is like. Normally it’s much more straightforward with a simple and clean operating site.  Remember, aid is often given on a first come, first serve basis so it’s in your best interest to file as accurately as early as possible!  Providing Inaccurate Information:  Accuracy is key when completing the FAFSA. Failing to report income or assets accurately could result in penalties or loss of aid eligibility. This is important to everything from your name to your lists of schools. Any errors will cause delays in your application – and potentially a loss of aid options.  Ignoring Updates and Changes:  The FAFSA process is subject to updates and changes each year, so it’s essential to stay informed about any new requirements or regulations that may affect your application. Stay in touch with me here at CFAA to be kept up to date with any changes on the FAFSA!  Current Updates to the FAFSA This year, the Department of Education updated the FAFSA in hopes of creating a more streamlined application process. Unfortunately, this year’s cycle has been anything but simple. From issues with the site itself and now delayed financial aid deadlines, many students and families are feeling the pressure of finding money for college. These delays are impacting all students, as they feel more rushed to make decisions about what to do – but low-income and first-generation students may feel this rush more deeply.  Despite these difficulties, many positive changes have been made to the FAFSA for the 2024-2025 application cycle. One of them was the Federal Tax Information update. Using this tool, the form will pull information from your current tax return. This saves a lot of time and reduces mistakes from entering income. Super helpful! Additionally, the questions that were included on the form have been reduced – making the form shorter and easier to fill out.  Successfully completing the FAFSA can be a daunting task, but with careful planning and attention to detail, you can navigate the process successfully. By following the key steps outlined in this guide and avoiding common pitfalls, you’ll be well on your way to securing the financial aid you need to pursue your educational goals.  I hope these tips on how to successfully file the FAFSA make the entire process feel less daunting!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

College financial expert Jodi Okun shares lessons to help seniors embrace change after high school graduation as they begin college

Embracing Change: Navigating Graduation and New Beginnings as a New Grad

Preparing for College / By

Graduation marks the end of one chapter and the beginning of another. It’s an exciting time but also one filled with anticipation and perhaps a healthy dose of uncertainty. For high school seniors transitioning to college freshmen, this period of change can feel both exhilarating and overwhelming. So much is changing – from where you live to actually being in charge of (almost) all of your choices alone. But amidst the whirlwind of emotions, there lies a world of opportunities waiting to be embraced.  Reflections on Graduation High school graduation is a time for celebration, reflection, and looking ahead to the future. It’s a milestone that marks the culmination of years of hard work, dedication, and growth. 18 years of your life have gone by – filled with so many incredible memories and lots of hard work. Graduation is also the end mark of all of your college application woes and experiences!  As you bid farewell to familiar surroundings and embark on new adventures, take a moment to reflect on your journey and the lessons you’ve learned along the way. Embrace the memories, cherish the friendships, and acknowledge the challenges that have shaped you into the person you are today. It’s easy to wish for that last summer to fly by so you can move into your new dorm or home, but slow down and savor what’s left of this special time in your life.  Embracing New Beginnings: Seek Guidance:  Transitioning from high school to college can be daunting, especially when it comes to navigating the complexities of financial aid and budgets! Don’t hesitate to seek guidance from school counselors, financial aid advisors, and other trusted sources who can provide insight and support. Learning to navigate how to handle your own money is scary. I’ve shared some important money lessons on the blog before. Review them and remember that how you live now will set up much of how you operate after graduation.  Explore Financial Aid Options:  Take the time to research and explore the various financial aid options available to you, including scholarships, grants, loans, and work-study programs when paying for school. Each one has its own pros and cons. One of the most important aspects is being honest about how much money you will owe after graduation and whether or not you’ll be able to pay. Avoid setting yourself up for overwhelming debt following your college graduation.  Create a Budget:  Developing a budget is essential for managing your finances as you embark on this new chapter of your life. Take stock of your expenses, including tuition, fees, books, housing, and personal expenses, and create a realistic budget that aligns with your financial resources. Have your parents help you develop a system that will work. Include any money from jobs and aid that you’re responsible for. Learning to live within your means now is key to financial success as an adult!  Maximize Aid Opportunities:  Be proactive in seeking out opportunities to maximize your financial aid package. This may include applying for additional scholarships, completing the Free Application for Federal Student Aid (FAFSA) early, and exploring alternative funding sources. Scholarships are a great way to find extra money each year (that you never have to pay back!).  Stay Flexible and Open-Minded:  Embracing change means being willing to adapt to new circumstances and opportunities as they arise. Stay flexible and open-minded as you navigate the transition to college life, and be prepared to embrace new experiences, challenges, and opportunities for growth. This is such an exciting chapter of your life and one that you should enjoy whole-heartedly. Let yourself be led by curiosity and experience all that’s ahead.  By embracing change with an open heart and a willingness to explore new possibilities, you can navigate this transition with confidence and optimism. Plus,  with careful planning, strategic thinking, and a proactive approach to financial aid, you can set yourself up for success as you embark on the next chapter of your academic and personal journey. Here’s to embracing change, embracing opportunities, and embracing the adventure that lies ahead. Congratulations!!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

4 tips for making good financial choices for college shared by financial aid expert Jodi Okun at College Financial Aid Advisors

4 Tips for Making Good Financial Choices for College: Navigating Financial Aid for Juniors and Seniors

Financial Aid, Pay for College / By

College choices are popping up like flowers this spring, and let’s face it, it can be a bit overwhelming… especially when it comes to picking the right financial aid options. But don’t stress! Here are four easy steps for high school juniors and seniors to help you breeze through these decisions and make a savvy choice! Although your decisions might look a little different, the same principles still apply to you both. Reflect The thinking and waiting process makes choosing a perfect college difficult. Certain important questions must be answered, such as: What college will students be happy at? What can parents afford? What financial aid path is best for families? These reflections will answer the majority of these questions and provide a starting point for conversations with your family.   Juniors:  High school juniors  should start to reflect on what they want from their college experience. Use this time to do their research on the different types of financial aid and varying scholarships available. It’s also a great time to talk with your family about budget and funds. Being informed enables students to grasp an understanding of the financial aid process as a whole and what plan will be most favorable for all parties in the long run.  Seniors:  This time of year is important for seniors to start picking what college is best for them not only with financial aid, but other attributes as well. As seniors start to approach the end of the year, college acceptances and financial aid offers/awards are rolling in. It is critical to address all aspects of each respective school with the whole family so that the final decision is clear with everyone in the family.  Refine  Spring is the time for students to refine their list of preferred colleges. Narrowing down a list of financial aid offers, identifying the path that will accomplish what students want is a significant step in the  timeline. Students need to remember to prioritize location, size of school, financial aid offer, specific major when narrowing down their choice. Look at all aspects of the schools!    Juniors:  It is never too early for high school juniors to start generating a list of colleges they are interested in and would like to investigate further. Aim for a list of five to ten colleges that they could see themselves at and do research on those specific schools.  Seniors: Students need to communicate with financial aid offices, school counselors and their families to determine what option and financial aid path is going to be the best option for everyone. Use this time to your advantage and thoroughly compare award letters and offers. Reducing the list of awards and deciding between two to three options will allow everyone to come to a consensus more effectively.  Register  Now is the time for high school students to start signing up for classes, clubs, tests, and other important preliminary college requirements. They also need to register and submit your financial aid form in the fall. Students and parents alike often forget that there are deadlines! High schoolers should stay in contact with their school counselor as well as the desired colleges’ financial aid office.  Juniors:  Although college seems to be far off, signing up and creating an account for Free Application for Federal Student Aid (FAFSA) will ultimately give students a headstart when filling out financial aid forms. Contact the financial aid offices of students’ potential colleges to discuss the baseline of what a student may be eligible for or any questions they have.  Seniors:  The time has come where incoming college students should be evaluating the financial aid offers from the colleges they were accepted to. Depending on the types of financial aid students end up opting for, they will  need to complete verification documents along the way.  Reorganize  The final step of making sure students receive the financial aid package that best accommodates their needs is to organize their plan. It is imperative to go over the financial aid requirements and what each award is offering in advance so you know what’s available for you. .  Juniors:  With upcoming deadlines, incoming seniors need to start planning and staying on track to prepare to complete all forms and applications. If students follow the three prior steps, they will not be overwhelmed with trying to rush and complete applications and make errors. Seniors:  Fall is still very far away, but graduating high school seniors need to stay organized with their financial aid timeline. Follow up with the financial aid office of their college if needed. Obviously this year has been a bit different than most. Next year college students with financial aid should be well prepared to fill out the form every upcoming year of attending college as well as fulfill the requirements of the financial aid award.  Don’t leave financial aid until the eleventh hour! The sooner you start, the more breathing room you’ll have to weigh your options. Keep in mind: today’s seeds grow tomorrow’s flowers!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

3 must-ask questions for the financial aid director or office shared by financial aid expert Jodi Okun at College Financial Aid Advisors

3 Must-Ask Questions for the Financial Aid Director: Unlocking Financial Aid Wisdom

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Whether you’re a senior weighing your financial aid options or a junior gearing up for college visits this summer, remember: the financial aid office is your friend! I know that it can seem like a super overwhelming and scary place to visit, but they really are there to help you! The folks there, especially the director, know their stuff. When you chat with the financial aid office, asking the right questions is key. Here are three important questions to kickstart your conversation with the financial aid director and office:  How much does it really cost to attend this college?   It can be frustrating to try to come up with cost figures because students all have individual financial circumstances, but the financial aid director will probably have the best understanding of the closest dollar estimate for attending the school.  Start with a complete understanding of what it really costs to attend this college, not just tuition or room and board. You need to understand the typical costs for fees, books, living and travel expenses to have the full picture. Find out whether grants and scholarships are renewable, and what the anticipated increase is for next year’s tuition so you can plan ahead. From this amount you can subtract the amount of financial aid most students receive that does not have to be repaid, such as grants and scholarships.  What are my chances of realistically being able to repay my student loans?  You have to get a clear picture of whether this school is committed to helping you succeed. Find out how many students from the freshman class typically stay after the first semester, and ask how long it usually takes to graduate for your degree. Inquire about the percentage of graduating seniors who land jobs and what their average income is for various degrees.  This will help you determine whether you will actually be able to earn enough money to repay any student loans you might need. Otherwise, you could be looking at a future of debt piling up!  What else do you suggest for students in my particular situation?  Most financial aid directors have years of experience and they have worked with students in just about any financial situation imaginable. Explain the specifics of your financial background, let the director know if anything is anticipated to change within the next year, and ask about what other students have done to achieve success.  This can be helpful to gather a more personalized understanding of the finances of this decision.   The financial aid director can be a wonderful source of information but if you are still not sure how to proceed, you can always work with a professional college financial aid advisor to make sure you understand all the implications of the financial decisions you make. Your advisor can help you put together a list of intelligent questions and will also help you decipher the answers. If you need help coming up with questions for the financial aid director, contact us!  More about Jodi and College Financial Aid Advisors Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.

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