Busting Myths About How To Pay For College, Letters Of Continued Interest, and Negotiating a Financial Award Letter
Hello listeners! Listen to this week's Tests and the Rest and learn more about correcting myths about paying for college.
LAST WEEK
560. BUSTING MYTHS ABOUT HOW TO PAY FOR COLLEGE
Some rumors about the costs of college are true. For example, some colleges this year will establish record highs in tuition and fees. But does that mean you can trust everything you’ve heard? Amy and Mike invited educational consultant Ann Garcia to bust some pervasive myths about how to pay for college.
What are five myths that are busted in this episode?
Myth #1: We’re not poor and our student isn’t an athlete, so we’re stuck paying full price for college.
Myth #2: I have a 4.6 GPA so I will get merit scholarships wherever I apply.
Myth #3: My Student Aid Index/EFC is what it will cost me to go to college.
Myth #4: Full-pay students shouldn’t bother filing the FAFSA.
Myth #5: We shouldn’t save for college because we will get more financial aid if we don’t.
Have you listened to these gems from our archives?
310. LETTERS OF CONTINUED INTEREST
When Yogi Berra observed, “It ain’t over till it’s over,” he wasn’t talking about college admissions. He may as well have, though, as even an initial deferral or rejection need not spell the end of the application process. Amy and Mike invited educator Brooke Hanson to reveal the secrets of successful letters of continued interest.
What are five things you will learn in this episode?
What is a letter of continued interest or LOCI?
Who should consider sending a LOCI?
When is the right time to send one of these letters?
What should an effective LOCI include?
Which kinds of schools are most likely to respond positively to a LOCI?
308. NEGOTIATING A FINANCIAL AWARD LETTER
College represents one of those backwards pursuits where buyers sell themselves to vendors before they even know the price of enrollment. Is the admissions process really disengaged from economic reality, or do applicants have more agency than they realize? Amy and Mike invited college cost advocate Mark Salisbury to share the finer points of negotiating a financial award letter.
What are five things you will learn in this episode?
What does a financial award letter look like?
What are the different types of financial aid listed?
Is the amount of aid awarded in a letter final?
How and when should an applicant appeal to increase financial aid?
Is there a downside to appealing an award letter?