Think covering college costs with scholarships is impossible?

Regret waiting until senior year to think about paying for college?

Nia Grant is here to help you stop panicking about how to cover college costs, and, instead, start helping your teen find and apply for scholarships like it’s their full-time job. Nia was a senior in high school when she realized college tuition was her responsibility, so she buckled down, made mind maps, found local, regional, corporate, and private scholarship opportunities, spent all her spare time applying for them, and was awarded one million dollars in scholarship money.

Creating College Opportunities: How to Find and Win Scholarships

(00:07:52) "Look in your own closet. Look in your own house. Like, who are the brands that you support? Like a Coca Cola or Chick Fil A. Like, look them up. Because a lot of the ones that you patronize offer scholarships to help you out as well." - Nia Grant

Nia’s scholarship awards covered her college costs, living expenses, books, and much more, ensuring she graduated debt-free and well on her feet with a $100,000 net worth at age 21. During college, Nia launched her own small business, Nia Knows Finance, where she began helping other students (Gen Z) to make, manage, and multiply their money.

From Chemistry Major to College Cash Coach: Nia Grant’s Million Dollar Scholarship Story

(00:06:09) Generational College Expectations

(00:07:36) Exploring Scholarship Opportunities

(00:11:14) Finding Scholarships via social media

(00:14:27) Scholarship Criteria Beyond Grades

(00:16:59) Strategic Scholarship Application Tips

(00:21:01) Maximizing College: Beyond Classes

(00:24:41) Scholarship Application Motivational Strategies

Mastering the Scholarship Numbers Game for College Affordability

• It’s a Numbers Game: Nia applied for between 80–100 scholarships her senior year of high school—and won about 20. Persistence pays off: the more you apply, the better your odds, and sometimes that very next application could be the one.

• Think Beyond Grades: Not all scholarships are about perfect GPAs. Many awards focus on character, background, community involvement, or even creative prompts—so don’t count yourself out if your grades aren’t flawless.

• Leverage Your Network: Start your search with brands you already know and support, local organizations, your school’s financial aid office, and even your parents’ employers. And—pro tip—start EARLY and stay organized to avoid missing deadlines (like the $20k Nia missed for not submitting a headshot in time!).

Follow Nia Grant:

Website: https://niaknowsfinance.com/

Instagram: https://www.instagram.com/niaknowsfinance/

YouTube: https://www.youtube.com/@niaknowsfinance

TikTok: https://www.tiktok.com/@niaknowsfinance

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

Choosing where your kid will attend to college and deciding how to pay for it are two HUGE, potentially life-changing decisions, both for the child and the parents - particularly those from lower-income or first-generation backgrounds, making admissions and financial guidance in this area essential. You shouldn’t have to choose between funding college and having a secure retirement.

Don’t DIY the process simply because you don’t know where to turn for help or are afraid of how much that help may cost! This episode highlights several associations and resources to help ensure you find the right professional for your situation.

Just as not all school counselors or administrators are created equal, neither are financial planners or advisors. When facing cookie-cutter advice about affording college, that should be a red flag for you to pursue guidance from someone closer to your particular issue, situation, school of choice, or financial options.

Navigating College Admissions and Funding: Why Expert Guidance Matters

(00:01:41) Free FAFSA Filing Support Requirements

(00:06:30) Independent Educational Consultants’ Role

(00:11:13) The Limitations of Financial Aid Administrators at Colleges

(00:15:43) Certified College Funding Specialists in Finance

(00:22:20) Strategic College List Building by Financial Experts

(00:24:58) Navigating Student Loan Repayment and Forgiveness

Saving Your Future: Expert Strategies for College Funding and Selection

• Financial aid administrators can explain financial aid rules but cannot provide advice on admissions or other areas beyond their scope.

• Your typical financial advisor may not fully understand financial aid and college planning, providing generic advice like saving in 529 plans.

• Someone helping you with this process should understand student loan repayment options and the intersection of admissions and aid.

• Specialized designations like Certified College Funding Specialist (CCFS) are recommended for in-depth knowledge in college planning.

A great episode of the New Money New Problems podcast by fellow Financial Advisor, Brenton Harrison, that explains the value (savings) in paying for guidance with your money: When Paying a Financial Advisor $6,000 is a Bargain

Resources to Help Families with the College Admissions Process:

IECA - Independent Educational Consultants Association - https://www.iecaonline.com/

HECA - Higher Education Consultants Association - https://www.hecalive.org/

NACAC - National Association for College Admission Counseling - https://www.nacacnet.org/student/

ACCFS - Accredited Certified College Funding Specialists™ - https://www.hireaccfs.com/

NICCP – National Institute of Certified College Planners - https://account.niccp.com/find-a-ccps/

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

When you’re facing any large purchase, there are two major questions you must answer:

1. How do I lower the cost?

1. What’s the best way to pay for it?

While you’ve heard about student loans, 529 plans, and, potentially, other options to help you finance college costs, the best way for YOU to pay for college for your student is likely a unique combination of tools & tax strategies based on your personal situation. **This is why it’s so important to work 1:1 with a financial planner and tax advisor.

College Financing, Debt Freedom, and Wealth Building

529 plans offer flexibility but require consideration of tax implications. While these plans can be a great way to save for college expenses, it's important to understand how they can impact your taxes and overall financial situation. Making informed decisions now can lead to significant savings down the road.

Gifting and income shifting can save on taxes and shift income to family members. By strategically gifting assets or shifting income to family members in lower tax brackets, you can reduce your tax liability and potentially save a significant amount of money. It's all about understanding the rules and making the most of the opportunities available to you.

College Payment Hacks: Smart Ways to Pay for College

(00:03:13) College Tuition Payment Plans Overview

(00:05:58) Tax Benefits and Flexibility of 529 Plans

(00:09:16) Strategies for College Tuition Financing

(00:18:16) Income Shifting and Tax-Saving Strategies

(00:21:47) Funding College While Building Long-Term Wealth

Paying For College Without Taking on a Truckload of Debt

Jack Wang highlights the importance of exploring various financial strategies to fund college education, including payment plans, savings, 529 plans, and loans, to safeguard a family's financial well-being. He highlights colleges offering diverse payment plans and emphasizes advanced financial techniques, such as leveraging tax savings and allowing investments to grow, to minimize the long-term financial burden of college expenses.

This episode answers these questions:

• What are some advanced strategies for college financing?

• What are the various ways families can pay for college?

• How can gifting and income shifting strategies help save on taxes?

• What are the tax implications of 529 plans?

• How can college financing be turned into an opportunity for building long-term wealth?

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

Understanding how your credit score works and actively working to improve it can open up doors to better financial opportunities. One of the biggest mistakes college students make when it comes to credit is overspending and not keeping track of their expenses.

My guest today, Brittany Greene, focuses on providing financial education and resources to college students. Through her company, Crown Financial, she offers workshops, online courses, and personalized coaching to help students navigate the complexities of personal finance. From budgeting and credit score management to investing, Crown Financial equips students with the knowledge and tools they need to make informed financial decisions both during college and beyond.

Empowering College Students through Financial Education and Credit Score Building Techniques

(00:05:26) Empowering College Students through Credit Education

(00:05:26) Developing Growth Mindset for Financial Success

(00:06:12) Mindset Shift for Financial Success in Credit

(00:08:00) Credit Empowerment for College Students

(00:15:43) Financial Empowerment through Strategic Money Management

(00:18:33) Credit Score Fluctuations with Velocity Banking

The Impact of a Growth Mindset on Finances

Building a growth mindset is crucial in financial progress. It's all about having the belief that you can learn, grow, and improve your financial situation over time. By adopting a growth mindset, you are more likely to take risks, learn from failures, and persist in the face of challenges - all of which are essential for financial success.

(00:21:56) "The best investment that you can make is in yourself personally. Develop yourself so that you can recognize opportunities, so that you can take advantage and you don't fumble the bag on the opportunities that you have coming up." - Brittany Greene

Tips for Families Preparing to Send a Student to College:

• Develop a growth mindset to believe in your ability to progress financially.

• Start with building your mindset every day by listening to podcasts, using affirmations, and staying resilient.

• Utilize resources like StellarFi and Self to build credit by paying bills on time.

• Learn about your credit report using tools like Credit Karma and Experian.com.

• Recognize that the best investment you can make is in yourself personally, to recognize and seize opportunities.

• Encourage students to transition (and model the transition yourself!) from a fixed mindset to a growth mindset to pave the way for financial success.

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

Follow Brittany Greene:

LinkedIn: https://www.linkedin.com/in/brittanygreenecf/

Website: https://www.crownedfinancials.com/

Resources:

https://stellarfi.com/

https://www.self.inc/

It used to be that parents and students had the opportunity to finance higher education with almost no limit to the amount they could borrow.

The H.R.1 - One Big Beautiful Bill Act, changes that. It imposes new limits to parent financing and student loans. In particular, capped borrowing for graduate students at $50,000 per year for professional studies and $20,000 for other programs.

With Parent PLUS loans also facing new annual and total caps and credit underwriting criteria, it's even more important for families of high school students to understand these limits, considering they may only have a year or two to plan and establish the funds to cover college.

Private Student Loans: Pros and Cons for Borrowers

While you still have alternative financing options, such as private loans, there's much more of a “math game” to it, because debt-to-income ratios and credit scores become significantly more important.

Understanding New Federal Limits for Loans (for Students and Parents)

(00:01:08) Graduate Student Loans Borrowing Changes

(00:05:38) Parent PLUS Loan Borrowing Limits and Criteria

(00:08:49) Customizable Borrowing Options for Private Student Loans

(00:11:43) Financial Eligibility Based on Debt and Income

(00:17:22) Grad Plus Loan Elimination and Co-signing Risks

(00:21:09) "If you are looking at a school that's $90,000 a year, but you know, realistically, you're not going to get aid for whatever reason, but you don't have the savings to pay $9,000 a year. And now you might not have the ability to borrow $90,000 a year. That school can't be on the list. Right. There's, there's no way it's gonna happen." - Jack Wang

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

Student loan debt is a topic that affects millions of people across the country. It's a financial burden that many individuals face as they pursue higher education, and the impact can be long-lasting. Whether you're a recent graduate or have been out of school for years, understanding student loan debt is crucial to managing your finances effectively.

"It wasn't that simple of just drawing up different options for repayment terms." - Travis Hornsby

Understanding student loan repayment goes beyond just basic options and terms. It's a complex process that requires careful consideration and planning.

• Travis has seen student loan debt can up to $2 million for a couple in some cases, with an average of around $260,000 per person.
• Understanding available options for loan forgiveness and income-driven repayment plans is crucial in managing student loan debt effectively.
• Leveraging student loans strategically and reframing debt as an investment in education can help individuals navigate financial situations more effectively.
• Private student loans differ from federal student loans in terms of tax implications and dischargeability in bankruptcy.
• Strategies such as filing taxes separately and increasing retirement contributions can help reduce student loan payments and lower taxable income.
• Public Service Loan Forgiveness is a program that allows individuals working in public service to have their student loans forgiven after a certain period of payments.
• Viewing student loan debt as a strategic move for education and income potential can help individuals make informed decisions about financing their education.

00:05:58 Effective Management of Student Loan Debt

00:08:21 Extensive Student Loan Debt Variances

00:12:23 Non-dischargeable Private Student Loan Obligations

00:14:06 Tax Filing and Retirement for Debt Relief

00:17:56 Maximizing forgiveness and minimizing tax payments

00:24:26 Loan Forgiveness for Public Service Workers

Travis Hornsby, a renowned expert in student loan debt and founder of Student Loan Planner, approaches the topic with a unique perspective centered on strategic management and mindset shifts. He believes that student loan debt should be viewed as an investment in education rather than a burden, encouraging borrowers to leverage their debt wisely to enhance their career potential. Hornsby advocates for a thorough understanding of repayment options, including the nuances between federal and private loans, and promotes strategies like filing taxes separately and increasing retirement contributions to manage payments effectively.

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.

Choosing a college where your student will thrive is about much more than the school’s name, ranking, prestige, or reputation. Research from Purdue University and Gallup highlights that aspects like caring professors, supportive learning environments, and experiential learning opportunities hold more weight in determining a student's college experience.

(00:04:19) Impact of Supportive Learning Environments on College Choice

(00:09:24) Enhancing College Learning Through Real-World Experience

(00:11:09) Enhancing College Experience Through Student Engagement

(00:21:31) Student-Centered College Selection for Success

(00:22:44) Optimizing College Choices for Financial Stability

In making your dollars work best for your kid’s college, a HUGE factor is whether the school selected is a good fit – reducing class skipping, increasing involvement in extracurricular activities, and being more active on campus, simply because they enjoy the school environment.

The wrong school selection can waste money, not to mention creating a distasteful experience for the student and family. Jack Wang, an advocate for this holistic approach, emphasizes that finding a college environment where students can thrive academically, socially, and personally is key.

His perspective is shaped by the belief that true student engagement and workforce preparation come from hands-on experiences such as internships and extracurricular activities, which also aid in personal growth and network building.

• Factors like professors' care for students, creating a supportive learning environment, and experiential learning opportunities matter more than rankings or class size in selecting a college.

• Offering hands-on experiences like internships, co-ops, and undergraduate research helps students apply classroom learning in real-world settings and prepare for the workforce.

• Student participation in extracurricular activities helps build networks, fosters campus community involvement, and provides valuable growing up experiences.

• Understanding and prioritizing student preferences like school environment, social activities, and academic fit are crucial in selecting the right college for overall success and well-being.

• Choosing the right school where students can thrive academically and socially can impact the financial aspect of college by reducing costs and avoiding additional years of education.

Connect with host, Jack Wang: https://www.linkedin.com/in/thejackwang/

*be sure to send a connection request with a message saying Hello!

Navigate college funding with me at www.smartcollegebuyer.com

The content of this podcast is for educational and informational purposes only and should not be considered financial, tax, or legal advice. Nothing in this podcast is a recommendation or solicitation to buy or sell any financial product or service. Every family’s financial situation is unique, so always consult with your own financial or tax professional before making any decisions. While we do our best to provide accurate and up-to-date information, we can’t guarantee its completeness or accuracy. Past performance is not indicative of future results. Your mileage may vary. No warranties, express or implied. Batteries still not included.