Early Birds, Worms & FAFSA

Early Birds get the Worms. The old saying is still valid. IF you have a kid in college right now OR MIGHT have a kid in college next year, please clear your calendars in the next few days to fill out the Free Application for Federal Student Aid. And yes, it can make thousands of dollars difference in what your student might receive. How’s that?

The FAFSA is more than an application. It is a time-sensitive portal to money, and some of that money doesn’t have to be paid back. The doors opened for “getting in line” on October 1st, 2022 for the school year 2023-24. So, here’s a big clue. Do the work now. Why?

FAFSA Truth #1- Some of the money will run out by next spring, and you might miss out. While I hate the phrase FOMO (Fear of Missing Out) this is the one time you need to use it to your advantage. Don’t be last in line, when lots of the free money is gone and given to other Early Birds.

FAFSA Truth #2- If you are wealthy, or maybe just comfortable financially, the rumors mill tells you you won’t qualify for any grants or scholarships. That’s not the full picture. What IS true is some of the money is “granted out” to the Early Birds who applied in the fall, not next summer. And, that money ran out. Improve your odds by getting in line near the front. Like, right now.

FAFSA Truth #3- If you have multiple kids that may be in college simultaneously, FAFSA can REALLY help in that situation. The guidelines are very different for multiples and could help your wallet.

FAFSA Truth #4- You’ll be an expert in this process, as you need to do it Every. Year. Getting “lucky” may be a result of doing the work “early.”

I rarely endorse most college coaches/guides/counselors, since few are focused on debt-free. There is one exception; Jeannie Burlowski. Her book, Launch, is a detailed plan, almost from birth, of doing college debt free. You may want to buy it for Chapter 10, which is all things FAFSA.

In the years since I had to endure the FAFSA application, my state has made the Community College to University path much more affordable. 38 out of 58 community colleges offer $500 a semester tuition to every eligible student. A student who works part-time on the side, in jobs paying $20-22/hour can make a small car payment, put gas in, and commute to class. With discipline and focus, getting textbooks online cheap, and doing the work, a student with good grades WILL get accepted to one or more of our University System campuses as a Junior. If they save some of that earned money it can help them while away at University. No question, it will cut their student loans down significantly, even up to 50% savings.

No matter where you live, find the most affordable path to the right education future for your student. It will be one of the best gifts ever. And it starts with plowing through the FAFSA. Start with this video, Student Aid Video, from the student aid portal at the .gov website.

Remember- a worm is a steak dinner to a bird. For us, it could be thousands of dollars in college savings.

So, Go. Get. The. Worms!

Until Next Time,

All My Best,

Bonnie Burkett