It was fun checking in with Justin Draeger, who leads the largest association supporting college financial aid officers. Justin last appeared on the podcast about three years which meant we had a lot of catching up to do. Listen to Justin describe what has changed as well as what hasn't in that interval. He discusses innovation in higher ed, the push for more transparency in award letters and the current regulatory environment in the highly regulated financial aid field. Enjoy!

Details:

• 0:00~1:10 Introduction
• 1:10~4:19 What is NASFAA?
• 4:19~9:49 Student loans - crisis or not?
• 9:49~11:24 Financial aid offices and financial education
• 11:24~11:51  A word from NGPF
• 11:51~16:49 Innovations in education
• 16:49~18:11 The transparency of financial aid offers
• 18:11~19:24 Net price calculators
• 19:24~21:05 Transparency of loans and debt
• 21:05~26:43 Changes in the regulatory environment
• 26:43~28:17 Government budget allocations to education
• 28:17~29:24 Conclusion

Resources Mentioned:

• NASFAA

Quotes:

• “The thing that every student have to think about is the net price of attending an institution… At the end of the day, you have to take your total cost and subtract out grants and scholarships and get your net price. This is the way you should be comparing schools.”
• “If you’re a junior in high school and you are thinking about which colleges you may be able to afford, the net price calculator is a great starting place.”

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.

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