Paying for college is daunting, and can be a frustrating experience if you don't know what you're doing. The government may decide that on paper, you can afford plenty... though that's rarely the case with ever-increasing education costs. If you're wondering how to find money for college, look no further.

https://www.youtube.com/watch?v=EwCdR7GK89M

Today, Seth Greene is joining us to pull back the curtain on financial aid applications, so that you can qualify for as much as possible. If you want to get a jump on college aid planning, and learn the secrets for success, tune into our conversation below!

Table of contentsFrom Broadway to College PlanningCollege Financial Aid LeveragingHow to Find Money for CollegeStudent PositioningThe Importance of Starting EarlyFilling Aid ApplicationsDates to Know for Financial Aid Your Child’s PathAbout Seth GreeneBook A Strategy Call

From Broadway to College Planning

Seth was on his way to college to become the next Broadway star when he got a frantic call from his father saying he had to come home. After some prodding, he discovered that the bill had made his father nervous. And this conversation continued each semester. 

By the time he graduated, he had the epiphany that he didn’t want to move to NYC only to struggle. Instead, he decided to help upcoming students save some of the heartbreak that he went through. 

As he entered this career, he realized that MOST parents and students aren’t prepared for the cost of college. They don’t realize the true expense; they don’t realize that the cost increases every year; and they rarely start soon enough. Seth’s role as a college financial aid planner isn’t to help parents save—it’s helping them work with what they have. 

College Financial Aid Leveraging

4:50 “College financial aid leveraging, according to Money Magazine, is the process by which the schools determine how little financial aid they can give a family and still get them to come.”

Colleges are a business, first and foremost. If it comes down to two students, and one needs $50,000 of aid to attend a $60,000 school, and the other only needs $5,000, which student will the school want more? 

5:45 “If your were an NFL team owner, negotiating with a quarterback, you would want to pay that quarterback as little as possible. But that quarterback has an agent.”

Students and families don’t have that agent advocating for them, so financial aid planners act as that negotiator for families. They help students get more government aid, so they'll need less aid from the school, as well as helping students find the best schools for their needs and desires.

How to Find Money for College

Typical strategies for affording school include using what savings you’ve accumulated, going to a cheaper school, skipping school altogether, and/or taking out loans. Of course, many of those options can set you back farther in the long run. A school with a lower tuition may not actually be cheaper, and getting stuck with loans can hold graduates back.

These strategies, while common, often don't meet the full cost requirements of college, or create more debt in the long run. The secret to paying for college isn't about "making it work," it's about finding deals and getting more aid.

Student Positioning

There are two types of aid that colleges will provide to students. The first is merit-based aid, which schools award based on athletic or academic performance. Then, there is need-based aid. Aid planners bridge the gaps between the two—while merits are often up to the student and what schools want, a financial aid planner can help parents fill out aid applications to qualify for more needs-based aid. They can help parents and students avoid common pitfalls of applications that cause students to qualify for less aid. 

Needs-based aid IS quantifiable and therefore is the most important part of aid qualification.