the financial aid consultant
Financial Aid Consultant Support
by Howard Freedman
Copyright 2024 Financial Aid Consulting. All rights reserved. No portion of this article may be reproduced mechanically, electronically, by photocopying, or by any other means without expressed written permission of the author. Howard can be reached at finaidguy@gmail.com or 781-341-0234.
High school guidance counselors and college financial aid officers try their best to help students find the money for college. However, they can only do some things or offer time-consuming personalized services. Within the scope of their responsibilities, they are often told to utilize or recommend free services rather than refer parents to well-qualified and honest financial aid consultants. The difference can be compared to doing a more complex tax return on your own and hoping for the best rather than using a tax professional with a much better understanding of the tax laws and often overlooked tax benefits. The same holds. Find a seasoned financial aid professional to keep you on the right track.
America offers many higher learning institutions catering to students with different aptitudes, abilities, and interests. Yet, with all that is provided, the doors have been closed to many students who are willing to put in the work but are unable — or think they are unable — to afford a college education. In some cases, negative comments lead them to believe college is unavailable. In others, they are told the family cannot afford it. The truth, however, is that anybody can further their education, whether at a four-year university, a two-year community college, or a one-year trade school. They need the best help and direction.
Significant progress has been made just by simplifying the FAFSA, which calculates how much a family “should be” able to contribute toward the annual college costs. The FAFSA, however, is only a tiny piece of a process that bases its calculations on averages, not on real-world circumstances. Such things as consumer debt, health care costs, childcare, family abandonment, and parental incarceration are not factored into the formulas.
Adding to the problem, many high school guidance counselors face shrinking school budgets and more college-seeking students to support. Consequently, many students are left to navigate the financial aid process independently or get free advice not dedicated to each student. Only uninformed or mistrustful parents are often willing to share their personal information with the student or counselor. Students or parents also may be embarrassed by their financial situation, especially those collecting welfare. Language barriers, unresolved domestic problems, or even something as simple as the student not having a Social Security number.
To overcome these obstacles, overtaxed guidance counselors should be bold and turn to qualified outsiders, such as financial aid consultants, to fill the information gap. These outsiders may be more familiar with a specific culture or language or could provide additional mentoring and support for the student and their family. The goal is to give students the tools and information they need to further their education. Without that support, students may be accepted into a school they are ill-prepared to pay for, eventually leaving them with no degree and a hefty loan balance.
Guidance counselors can prevent such outcomes by steering students toward two-year colleges, which may be more affordable and better suited to the student’s academic needs. Counselors should also pay additional attention to their most at-risk students: those with a high financial need, non-English-speaking parents, or those requiring more time to mature as students. The job isn’t over once the student steps on a college campus. Counselors should follow up with their former students for at least a year and keep statistics about their dropout rates to identify any recurring problems.
The obligation to improve the financial aid process rests with more than high school guidance counselors. College financial aid offices are a critical Resource. Unfortunately, high turnover in these offices sometimes results in the office providing erroneous information that negatively impacts a student’s award of financial assistance. That is why high schools should remain more objective by inviting financial aid consultants to become an added resource to help families that need a much higher and more personalized level of service. Doing so need not be expensive but should provide value-added services and support, especially when costly and critical decisions must be made.
These are but a few of the many ways to meet the demands of needy students. George Washington Carver once said, “Education is the key to unlocking the golden door of freedom.