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College Financial Aid - What you don't know can cost you tens of thousands of dollars!

College Prep , Personal Finances , Popular

Dr. Kevin Bukatman 63 min
$20
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College Financial Aid - What you don't know can cost you tens of thousands of dollars!

If you have kids preparing for college, please watch this video. $20 of education can prevent tens of thousands of dollars in mistakes you'll never even know you made.

Dr. Kevin Bukatman helps the parents of high school students understand the challenges and opportunities in financial aid for college/university.  This hour-long video details specific "Do's" and "Do Not's" to help parents and students make educated decisions in school selection alongside finding and requesting different forms of financial aid.

As with all Epee courses, we provide actual experience to help you avoid making costly mistakes. This is one of the most costly. Because parents expect college to be exorbitantly expensive, they don't question it when their expectation is met.  Without understanding financial aid options, programs, and even the calculation methods, families will very likely take on tens of thousands of dollars of unnecessary debt while leaving tens of thousands of dollars in aid on the table.

Dr. Bukatman is also available for consultation upon request.

  • Objective
    • Understand what is and is not considered financial aid for college/university
    • Define Merit-Based vs Need-Based financial aid programs
      • Learn the important differences between Grants, Loans, Scholarships, and Work-Study programs
    • Identify how many years of expenses you’ll actually need to plan to cover (hint, it’s rarely 4)
    • Discuss the current state of university financials and endowments in spite of astronomically rising tuitions.
    • Discuss how university financials impact both need and merit based financial aid availability and university admissions rates.
    • Define and explain COA (Cost of Attendance): the breakout of all costs to attend different types colleges and universities.
    • Identify the “Public Ivys” – State schools that typically offer the best return on investment.
      • Discuss cost considerations for in-state vs out-of-state.
    • Discuss Federal Student Aid (FSA) ID and why ALL students and at least one parent should get one.
    • Define and understand EFC – Expected Family Contribution.
    • Understand how universities and the government define Financial Need.
    • Explain why the definition of Financial Need is critically important in evaluating how much different schools will ACTUALLY cost.
      • SUPER important.  You’re unlikely to realize you made a mistake and this single item can easily cost you $10k per year!!!
    • Explain the financial aid application process and schedule to follow.
    • Understanding the importance of the FAFSA (Free Application for Student Aid) and common mistakes to avoid.
    • Explain the CSS (College Scholastic Services) Profile used by 600+ schools to determine Need and non-governmental financial aid.
    • Discuss the important differences between the FAFSA and a CSS Profile.
    • Understand specific items that damage your Financial Need score if you’re not aware of it when filling out the paperwork.
    • Understand important differences between Grants and Loans as well as distinctions within either category.
    • Discuss the importance of minimizing debt and strategies to accomplish this.
    • Explain why paying in cash is actually a horrible idea even if you can do it.
    • Discuss “Parent Plus” loans and Private loans and explain some important differences.
    • Learn how to Maximize Student Aid Eligibility
    • Discuss the massive cost difference between public and private schools with respect to return-on-investment.
      • Engineering degrees at Cornell can cost $42,000 more PER YEAR than PennState.
      • Same degree, same starting salaries, $168,000 more debt!
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