How Families Can Talk About Paying for College

02/20/20 • 26 min

There’s almost too much information available about students finding a college with the right “fit” academically and socially, but what about the right financial fit? What’s the difference between a college’s “sticker price” and the actual cost of attendance? What kinds of financial assistance are available to students and their families, and from where? How much debt is okay? And when should families begin talking about paying for college?

In this frank and pragmatic conversation, Jayne Caflin Fonash, president of NACAC, Tracy Jackson, supervisor of school counseling services in the Loudoun County Public Schools in Ashburn, Virginia, and Megan Coval, vice president for policy and advocacy at the National Association of Student Financial Aid Administrators in Washington, D.C., reveal the essential steps to take and exactly what information is vital in the process. NACAC’s Mary Stegmeir moderates the conversation.

College Admissions Decoded is sponsored by NACAC's National College Fairs. Start your college search for free at a National College Fair, hosted annually in over 90 cities across the country and internationally. Learn more at nacacfairs.org.

Previous Episode

Demystifying the College Transfer Process: What Students and Families Need to Know

Experts say that as many as 40 percent of today’s students transfer to another institution at least once during their college careers. They choose to transfer in order to lower their college costs, find the right academic program, restart and return to college after a break, and a range of other reasons.

Despite transfer’s growing popularity, the process is sometimes difficult because of problems obtaining credit for previous coursework, a lack of adequate academic counseling, troubles obtaining financial aid, and more.

This episode offers tips to potential transfer students and explores ways to make the transfer process between community colleges and 4-year schools more seamless. The conversation examines new honors programs, scholarship opportunities, and pathways to prestigious baccalaureate institutions that are encouraging students and their families to consider the transfer option.

Next Episode

Understanding Financial Aid Award Letters

So you—or your child—got accepted to college. Congratulations! But now the financial aid award letter arrives. What does it mean? How much aid are you really receiving? What if it’s not enough? Will you have to pay it all back? This discussion aims to clear up some of the many mysteries about financial aid letters. In this episode NACAC’s Mary Stegmeir welcomes three experienced and knowledgeable guests to break down what the financial aid letters say and how to apply that information in real life. Tristen Black, associate director of admissions at the University of Oklahoma, Ja’Niah Downing, associate director of admission at Purdue University, and Rachel Fishman from New America in Washington, D.C.