video financial aid

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5 minute video on basic financial aid info

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College Planning Solutions-Illinois:

College Planning Solutions-Illinois The basics that parents need to know about college financial aid. A 5 minute video.

Steve Nosek College Planner:

Steve Nosek College Planner Started college planning in 2007 with College Planning Specialists Inc. 29 years in the financial service industry. Working exclusively with college bound students and their parents for the last 7 years. Has worked with over 100 student/families on admissions, student positioning and funding plans Planner and operator of College Planning Solutions-Illinois In the last 3 years over 70% of Steve’s students have been offered more financial aid than determined by the federal formula. Steve’s process positions the student for admission and maximum financial aid at the college of their choice.

College is Expensive No Matter Where Your Kids Go!:

College is Expensive No Matter Where Your Kids Go! 3 You need to know Cost Of Attendance : Not just tuition – includes books, room, and board, living expenses, etc. 4 years now easily costs $80,000 to $200,000… or more! Multiply by # kids attending for total costs! 40% increase over last 5 years .Costs keeps going up by 7–8% every year !! Average Cost Of Private $39,000 Versus State $25,000 Schools !

How Much Aid Is Available? There is over $156.1 Billion of Aid available, if you know where to get it!:

How Much Aid Is Available? There is over $156.1 Billion of Aid available, if you know where to get it! 4 Cost Chart – Billions of Dollars – (2010-2011 Academic Year) Two types of aid: 1. Free (scholarships & grants) and 2. Self Help (Loans and Work Study)

How Do You Apply For Aid?:

How Do You Apply For Aid? The FAFSA Free Application for Federal Student Aid (Financial Need) The CSS Profile College Scholarship Service Profile (Institutional Money from school’s endowments) 5 All schools ask for the FAFSA Only 10% of private schools need CSS Profiles Both forms need to match and be done yearly Not easy to understand or fill out and different completion dates!

What Do the Forms Do?:

What Do the Forms Do? They both determine the Students EFC! Expected Family Contribution This is the amount a student’s family is expected to pay on a yearly basis for college Based on parent’s and student’s income, assets, ages, and number of family members in college. You cannot apply for Federal Loans if you do not submit a FAFSA! If either is done wrong, it usually gets audited, adding more processing time… which often results in lost financial aid! 6

Sounds Simple – Complete Forms:

Sounds Simple – Complete Forms PROBLEM: Not all colleges offer 100% of financial aid as determined by the EFC Currently only 64 of the colleges in the country offer 100% of financial aid based on need. This count changes yearly (going down) Over the last 10 years the average percentage of need met by State schools is between 55 to 65%

That’s if your student has Need!:

That’s if your student has Need! What happens if you have saved for your students college education or you make over $100,000/year? Based on just 100K income per year without any family savings the EFC estimate would be $20,000+/yr. With savings it will be higher.

The key to college financial aid is to know how to access the available types of aid that your student qualifies for and how to get it.:

The key to college financial aid is to know how to access the available types of aid that your student qualifies for and how to get it. THE FIVE WAYS TO FUND COLLEGE Merit Aid – academic/athletic/activities/arts Opportunity Aid – the school filling their need Need Based Aid – all Federal Aid Entitlements – Government Programs (Vets) Your Own Money – Goal is to spend as little as possible! 9

Please join us on our next FREE online College Planning Workshop to learn more about doing this for your student.:

Please join us on our next FREE online College Planning Workshop to learn more about doing this for your student. Go to : “Join Our Next Workshop Page” and click on the REGISTER button to reserve your spot.

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