#103 Advice on the FAFSA Delay for College-Bound Families with Beth Walker
In this episode, Lisa and Beth discuss:
- The changes to federal financial aid are set to begin in 2024.
- Why parents should wait 10-15 days before applying with the new FAFSA application.
- How to take back your family’s financial power and not rely solely on the government formula for your student’s education budget.
- Strategies to handle the uncertainty of the college financial aid application process.
- Shifting the paradigm so your family doesn’t end up college-poor.
- If your student’s chosen college has a hard deadline for the FAFSA application, ask them if they have any grace periods on that deadline. Many deadlines can be more flexible than families realize.
- A known error in the formula in the 2024 federal financial aid application will result in many students and families receiving less aid this year than they will next year.
- Government aid is only one piece of the financial puzzle and should not be the main indicator of financial direction for your student’s college experience.
- Think about college like buying a house – your student will want to be clear on their must-haves and their nice-to-haves and understand the difference between those when making a decision.
“We can’t let the government formula dictate how we’re going to spend money…It’s only one piece of the puzzle, but it shouldn’t be driving the bus.” – Beth Walker
About Beth Walker:
Beth is the author of Never Pay Retail for College. She is a mom on a mission, protecting parents during their most emotionally and financially vulnerable phase of life. Beth is all about helping other moms and dads create better futures – for the students heading off to college and the parents they leave behind. Beth’s new book, Buy College Better (out in August 2023), will detail her formula for successfully “buying” college while saving tens of thousands of dollars on the overall cost of getting kids on their path to a better future.
Beth’s college FICO® score philosophy has helped parents maintain their current lifestyle and stay on track for retirement while sending their kids to schools that provide that “right fit” education. Beth is the founder of the Center for College Solutions, Senior Financial Specialist for Strategies for College, and a Wealth Advisor for Carson Wealth.
- #085 Upcoming Changes to Federal Financial Aid with Beth Walker
- FAFSA Application: https://studentaid.gov/
- College List Building Challenge: https://www.flourishcoachingco.com/list
Get Lisa’s Free on-demand video: How-to guide for your teen to choose the right major, college, & career…(without painting themselves into a corner, missing crucial deadlines, or risking choices you both regret).
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