Wondering what is the #CollegeCash hashtag all about? Jodi Okun founded College Financial Aid Advisors (CFAA) to provide one on one service to parents going about the very complicated process of funding college for their children. Everyone wants the best education possible for their children but may not be able to finance it without assistance from a professional; this is where Jodi comes into the picture. Jodi has worked with prospective college students and parents from all over the country to help their dream of a higher education come true.
Jodi started the one hour, weekly chat to reach more people with her college Financial Aid assistance skills and provide a venue for parents to ask questions and learn the valuable tips and tricks necessary for success. Join Jodi each Thursday at 7 pm PST, 10 pm EST at #CollegeCash to navigate through the complex world of funding college!
This is the summary of the 2nd chat. Please keep in mind that this “conversation” took place live on Twitter so all questions and responses were in the 140 character limit.
Tonight’s seminar chat will include Financial Aid Timeline Tips, Question & answer forum.
I recommend families apply for Financial Aid, even if you don’t think you qualify. Some scholarships require Financial Aid application (FAFSA) be submitted in order to get scholarship. You need to apply for Financial Aid every year your student goes to college. It may be hard 2 imagine your child will be a college student soon. Financial Aid is the difference between college costs & what family can afford to pay.
Let’s begin talking about timelines:
Here are some Jodi Tips:
Timeline Tip #1 In September the Financial Aid process gears up.
Timeline Tip #2 Families need to ensure all Financial Aid deadlines are met.
Timeline Tip #3 Families need to identify grants, loans & scholarships available to students.
Timeline Tip #4 Families should complete the multitude of forms needed for the application process.
Timeline Tip #5 as students fill out college apps, parents need to begin the Financial Aid prep work.
From @DabneyPorte Seriously a big mistake. RT @AidScholarship: Never ASSUME you won't get any financial aid!
Now let's turn to some Conversations and Questions about College ….is everyone doing great ??
Paying for a college education is no small undertaking
From Stevecassady: For Sure! RT @JodiOkun: Paying for a college education is no small undertaking
Q1 There are many questions to consider about college
A1 What will it cost?
From @SteveCassady College Financing is key there! RT @BrandFlair: @DabneyPorte I had a joint Financial and Estate Planning practice.
A1 How much can you save?
A1 How much can you and your family afford to pay?
Q2 Not sure where to start?
A2 Find out what college will cost.
A2 The price tag depends on the college & when you plan to attend.
From @brandflair U of Texas in state is around 15k to 16k a year today. In 18 years at 7% inflation could be over 60k a year
From @stevecassady Many different types out there. RT @CollegeCash: RT @jodiokun: A1 What scholarships are available to you?
From @Raven_73 With grandson, I should have started earlier. Did not foresee raising him. Now he is class of 2013 and uh...what to do?
Q3 Are you saving enough for college?
From @dabneyporte @JodiOkun How much does the average family need to borrow per year/per child for – answer from Jodi to @DabneyPorte 25,000 for all 4 years
A3 The College Board Savings Calculator will show u how http://bit.ly/rfVfPk
A3 The cost calculator located on each college web site will help
A3 Estimate your share: Before you apply for aid
From @sharongreenthal Don't forget about things like travel expenses, housing, extra-curricular activities. It adds up. @JodiOkun can find you the $$$
A3 determine what u can afford to pay using family income/savings/financial holdings
From @Dabneyporte Just when I felt free to do what I want and free to spend...I must start thinking about . bye bye @JimmyChoo
From @stevecassady You're sharing great information. RT @JodiOkun: @SteveCassady this is so great
A3 The Expected Family Contribution (EFC) calculator on Finaid.org will help http://j.mp/nB3WVf
From @AidScholarship But don't be freaked out by the numbers! Financial Aid IS available! Scholarships are NOT just for low income students!
From @DormRoomDreamer I'm not sure if anyone knows about this from Florida--but Florida Prepaid is handy for kids who stay in Florida for college. With FL Prepaid you can prepay just about everything. AND inflation doesn't matter. Your price is set.
From @dabneporte @DormRoomDreamer Maryland has prepaid too...but seemed silly to me in preschool. Time flies.
Q5 Apply for aid and loans
A5 Know your Financial Aid and loan options
From @brandflair @DormRoomDreamer Prepaid worked well in Texas for the older kids who got it paid out. Think Social Security 4 young ones
A5 Both are a part of most students' complete aid package
From @CollgeCash have you heard of discounting..inside tip
From @brandflair +1000 This is big! "@JodiOkun A3 The Expected Family Contribution (EFC) calc. on Finaid.org will help http://t.co/euEkdFX"
A5 understand the differences in the Financial Aid and educational loans available to you. http://j.mp/qmtucc good info
Q6 Compare your aid awards
A6 Each college awards Financial Aid differently.
A6 One college may give more grant money, another more loans
From @brandflair @DormRoomDreamer @DabneyPorte State Govs managing a social security model prepaid college fund is not my pref for young kids.
From @paulbiedermann @JodiOkun True that private schools offer more aid potential since state schools r so cash-strapped/make them more affordable?
From @iamjosephgerman s it true that if you apply ED, you can decline the acceptance if you cannot afford it? Or are you required to still attend?
Jodi to @DabneyPorte each college has their own budget ..the fomula is the same but incentives for going out of state maybe
From @stevecassady Things like a college's endowment performance can influence what's available @DabneyPorte @SteveCassady @JodiOkun
From @pocsmom College costs vary <$5000-60,000 now. Most don't pay sticker price bec aid-need/ merit based from gov, college, pvt scholarship
Jodi: Many students depend on Financial Aid to provide the money cover tuition and textbooks.
From @pocsmom Not all aid is equal but Colleges and gov consider aid as free money grants, loans must pay back, and work-study jobs.
From @dabneyporte Work study helps and teaches responsibility and engages child in realizing the cost and accountability. U know I love that.
From @mimiBakeMN @SteveCassady Wow! Good ACT score allowed my girls to take college courses & get in2 college as sophomores.
Tip #2 Most college Financial Aid offices have their own requirements “how to apply”
From @brandflair I always felt it wise not to lock all college $ in a vehicle that would penalize you if your child did earn a scholarship
Tip #3 By following this process, it may be possible for student to secure Financial Aid
From Jodi: Have you seen my Twylah page…it is great information http://j.mp/n0gmPK
Jodi to @SteveCassady it is the small ones you need to look at they pay big money free money
Jodi to Students who receive Financial Aid from scholarship programs and grants this is free money
Students who are applying early action need to look for early Financial Aid dates
#1 POCSmom tip for applying for aid-make sure you DON'T miss deadlines. Some colleges give out their $ to the early birds 1st.
Jodi: Did you know each college has its own Financial Aid web page?
what can students do now to help with scholarship search??
Jodi: start a resume that will help zero in on special scholarships that highlight the student like band
Jodi: List all the schools you are applying to in order you wish to go for the FAFSA
From @Brandflair @JodiOkun You are invited to write a post on college planning for 12Most.com. Let me know if you would be interested. :-)
Make sure you file your taxes on time each year for Financial Aid no more extensions!
From @MimiBakerMNJail love this idea go to the school website and look for department scholarships
From @aidsscholarship @jodiokun Quick scholarship tip: List the MOST expensive schools you are interested in FIRST on scholarship apps
Jodi look at your income and estimate what you will bring in next year!
This chat landed the hostess in Twitter Jail and she wasn’t able to say good live but she appreciated all her chat participants!
From @aidscholarship Get used to having your taxes done EARLY when your student is in high school, be ready for filing the FAFSA ASAP after Jan 1st
From @lynngosselin She's the queen RT @JodiOkun: @farahbelliard I work with families in all states
Some stats from Hashtracking:
716 tweets generated 3,405,078 impressions, reaching an audience of 139,721 followers within the past 24 hours
Top Ten by Number of Impressions
Top Ten by Number of Tweets
Join @JodiOkun next Thursday at 7 pm PST/10 pm EST for another #CollegeCash chat!
Thanks to Peggy Fitzpatrick for writing this summary you can connect with her @PegFitzpatrick or check out her Twylah page at http://www.twylah.com/PegFitzpatrick