As the calendar turns to fall, many seniors and their families focus on applications and how they are going to pay for college. The most popular NGPF podcast at this point is my conversation with Mark Kantrowitz, who knows more about financial aid than anyone on the planet.  I highly recommend listening to it.  In our conversation, we discuss a few of the changes noted in this CSM article about changes in college financing:

It’s college application season, and the reality of how much that degree will cost is hitting families across the country — even those who have been preparing for years. But changes to how families fill out the FAFSA, along with new ways to decide what colleges they can afford, might help make the process a little easier.

Whether you’re a student or a parent, make sure you understand these five important updates so you’re prepared to make the best financial decision for you when college acceptances come in.

The article highlights a few new resources that your students should be familiar with, including the College Scorecard and Pell Abacus. These resources help families project what their net price (or out-of-pocket costs) will be.

——————-

Check out the NGPF Lesson on Comparing Sticker Prices and Net Prices for College

About the Author

Tim Ranzetta

Tim's saving habits started at seven when a neighbor with a broken hip gave him a dog walking job. Her recovery, which took almost a year, resulted in Tim getting to know the bank tellers quite well (and accumulating a savings account balance of over $300!). His recent entrepreneurial adventures have included driving a shredding truck, analyzing executive compensation packages for Fortune 500 companies and helping families make better college financing decisions. After volunteering in 2010 to create and teach a personal finance program at Eastside College Prep in East Palo Alto, Tim saw firsthand the impact of an engaging and activity-based curriculum, which inspired him to start a new non-profit, Next Gen Personal Finance.

More posts by Tim