featured image for podcast episodePreparing for the Cost of College | Brian Eufinger

Preparing for the Cost of College | Brian Eufinger
Episode 460

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Episode Guide

Episode Summary:

Preparation and knowledge are vital for minimizing college costs. Brian, co-founder of Edison Prep, emphasizes the importance of being proactive as early as eighth grade, focusing on GPA and preparing for the SAT and ACT. Transparency in merit aid has improved, with many colleges now providing grids that clearly outline the scores needed for financial aid. It's essential to understand the FAFSA and CSS Profile, as these financial aid forms play a critical role in funding education. The upcoming changes to the FAFSA aim to simplify the process, and understanding the intricacies, like the impact of multiple siblings in college, can significantly influence aid received. Creative strategies, like becoming a resident advisor or utilizing grandparent 529 plans, can also alleviate costs. By exploring all options and planning ahead, families can make educated decisions for their children's educational futures.

Episode Timestamps
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With Brian Feroldi

I teach investors how to analyze businesses so they can invest with confidence.

Brian Feroldi started investing in 2004. In the beginning, he had no idea what he was doing and got his teeth kicked in. His returns improved dramatically over time as his knowledge about the stock market grew. In 2015, Brian became a writer for the Motley Fool. He has since written more than 3,000 articles on stocks, investing, and personal finance. Brian lives in Rhode Island with his wife and three kids.

Where to Find Me

Brianferoldi.ck.page
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In this episode: financial aid, college planning, standardized tests, optional tests, meeting needs, and preparation.

This week we are re-joined by Brian Eufinger to discuss ways to best prepare your children for college admissions, navigating the new changes to FAFSA and the CSS profile, and how you can maximize prepping for your child’s higher education. While college prep can be stressful for students, from maintaining their GPA to taking multiple standardized tests, it can be just as stressful for parents to figure out financial aid and how to best set up their child for success before and after graduation. However, knowing the factors to consider early on and having the knowledge in advance can make this process far less daunting! While stressful as it may be, remember that there are many different resources available to you and your child that give you the knowledge that may alleviate the pressures that come with college prep and financial aid! 

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Brian Eufinger:

Timestamps:

  • 1:06 - Introduction
  • 4:53 - The Impact of Merit Aid
  • 11:49 - When, Where, and How to Think About Standardized Tests
  • 18:33 - The Intersection of The School, Price, Opportunity, and Comfort
  • 25:20 - Standardized Tests and The Reality of Preparation
  • 31:08 - Tests (Not) Optional
  • 37:32 - Governmental Forms and Financial Aid
  • 46:43 - The Variance of Need Meeting and Aid Changes
  • 51:13 - Preparation and Knowledge With College Planning
  • 55:23 - Non-Academic Path to Savings
  • 58:14 - Conclusion

Resources Mentioned In Today’s Episode:

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