Saving on College: Mastering the College...

Welcome back to Don't Retire... Graduate!: the podcast that invites you to rethink what retirement really means.

In today's episode, we're taking a look at college admissions and financial aid with our special guest, Dr. Kuni Beasley. With over 40 years of experience in helping students and their families navigate the complexities of getting into college and securing financial aid, Dr. Beasley brings a wealth of knowledge and practical advice that could save you thousands of dollars while helping your children achieve their academic dreams.

In this episode, I sit down with Dr. Beasley to discuss his unique approach to navigating the often daunting landscape of college admissions and financial aid. We explore his strategies, which have helped countless families secure significant scholarships and grants, minimizing the out-of-pocket costs for higher education. Dr. Beasley shares insights into the different types of financial aid available, including merit-based, need-based, and entitlement aid, and explains the crucial steps families need to take as early as the 9th grade to maximize their opportunities. We also tackle the importance of standardized testing, building strong resumes, and understanding lesser-known ways to finance college education. Dr. Beasley emphasizes that no college is worth dipping into retirement funds and offers practical advice on maintaining financial health while supporting educational aspirations.

5 Key Takeaways:

1. Types of Financial Aid (MONEY Acronym): Dr. Beasley introduces the acronym MONEY to describe the five types of financial aid: Merit-based, Opportunity-based, Need-based, Entitlement, and Your Own Money. Understanding each type is crucial to navigating college costs effectively.
2. Early Planning is Essential: Starting from the 9th grade, families should begin planning and preparing for college applications and financial aid opportunities. Dr. Beasley stresses that delaying this process can result in missed financial opportunities, costing families dearly.
3. Maximize Standardized Testing: Despite the rise of test-optional policies, standardized test scores like the SAT and ACT remain critical for scholarship opportunities and college admissions. Dr. Beasley recommends taking tests early and often to achieve the best possible scores.
4. Build a Strong Resume: Students should engage in activities that enhance their resumes, such as earning the Presidential Volunteer Service Award and participating in programs like Boys State and Girls State. Such accolades can significantly impress admissions officers and improve scholarship chances.
5. Financial Aid Strategies: Correctly filling out the FAFSA is critical, as mistakes can cost families tens of thousands of dollars. Dr. Beasley also highlights strategies like leveraging ROTC scholarships and understanding institutional aid policies to reduce reliance on personal funds.

For those interested in diving deeper into Dr. Beasley's methods and potentially saving thousands on college costs, more information can be found at Beasley College Prep. Tune in next time for another inspiring episode of "Don't Retire... Graduate!"

If you enjoyed our show, please subscribe, leave a rating on your favorite podcast platform, and share it with your friends and family so they can join you on your journey to financial freedom. Feel free to send us a topic or idea you'd like to discuss in a future episode by posting it on our Facebook page or tweeting us at @BrotmanPlanning. Until next time, don't retire... graduate!

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