ATLANTA (CBS46) – Fall is upon us again and when high school students begin the process of applying for college and financial aid.
Getting into a good university is hard enough on its own, but finding ways to pay for it can be just as difficult for applicants and their families. Justin Duncombe, financial advisor and author of College Bound Strategies, says the first step is to apply for financial aid. He explains that many might not even apply for fear of earning too much money or not receiving any help.
“The main thing you want to remember in terms of where money comes from is: need-based, merit-based, and special abilities,” Duncombe said.
It explains how families should be careful with requests and understand what is required and what is not required.
“A lot of times they deposit their retirement accounts, the value of a house, rental property, something that isn’t supposed to matter,” Duncombe said. “And every time someone does that, it costs them tens of thousands of dollars in financial aid.”
Duncombe also suggests that students need to figure out what the total projected net cost of education will be, and most colleges have calculators for this on their website. He also tells high school students to choose a degree that, in turn, will be worth that cost.
“What is the potential for me to study these things in schools that will help me find a job that will allow me to pay for these things,” Duncombe said of this thought process.
Duncombe says he often educates low-income families on how they can afford similar costs at some private colleges such as community colleges. He adds that most of the time, low-income families can take advantage of a no-cost option at community colleges.
“For disadvantaged families it is already free and for private schools they provide so much help that it also makes private schools free but few school districts are making this information known,” Duncombe revealed. “So we have a GoFundMe that is raising money to donate my book to underprivileged families – that way they have a guide. “
Duncombe says his book, College-related strategies, is the guide for every student and family trying to get a higher education. The GoFundMe for College Bound Strategies was launched to help disadvantaged students get the information they need to decide, apply for, and afford graduate school by fundraising, buying, and donating the book to disadvantaged students in districts. schools in the country.
Dumcombe said College Bound Strategies GoFundMe will donate the following $ 250,000 (or more if raised over the next 6 weeks) to schools and districts in the Atlanta area. GoFundMe.com/CollegeBoundStrategies