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According to a new study: Low Income, Highly Academically Successful Students are ending up at the wrong college. The system & resources currently available to us, do NOT provide the information we need to select the right college. Wait a minute: This isn't a problem exclusive to low-income students. This is happening in every demographic across the board. The biggest problem facing college bound students is: They don't know what they don't know. The free resources available are not enough to choose the best college. Today's show will open your eyes and help you avoid the pitfalls that drain the financial resources of most families.
How much will I woe under the new 'Income-based repayment plan method? The number of companies servicing student loans owned by the federal government has skyrocketed the past few years. Changes are causing confusion on what borrowers are expected to pay and where to go for questions regarding their student loan payments. It's a real possibility that two students graduating from the same college, with identical income, will have different monthly loan payments. Listen to today's show and gain clarity how to proceed in the ever-changing world of student loans. Chip Wittrock www.CollegePrepMastery.com
Financial planners are paid to market products. They're not rewarded for how much financial aid you receive. For example, the 529 Savings plan is one of the worst ideas the average college family will ever implement. 529 Plans are tied to the stock market. How do you think that's worked out for most people over the past twenty years? And....The 529 plan counts as an asset against you when you list all of your assets on your FAFSA form. Even if you did have a tax benefit from the plan, you will end up giving it back. There's many others we will dive into on today's show. Be prepared to be shocked of what you will hear. Chip Wittrock www.CollegePrepMastery.com
We're in an economy where innovation is important. Whatever major a student chooses, they need to make sure that all of the courses develop of of their capacities. Having one knowledge specific to a certain field is not good enough. Begin with their passion and identify a career that resonates with the student. Students just get frustrated when they take classes that create homework. Nobody wins in that scenario. We want to create a culture where the student is happy and 'never works a day in their life....' Because they love what they do for a living. It's possible.
Colleges are now being held accountable - it's about time! You will begin to see a trend in the next 12-18 months of colleges making sure the student has a plan to finish their schooling on time. Why? Because they are now being held accountable and could lose their federal aid as a result. Very interesting.... We dive into the subject on today's show. Enjoy! Chip Wittrock www.CollegePrepMastery.com
Colleges are spending big bucks on lead generating companies to gather contact information college bound students. Why? We explain inside today's show. You will be as shocked as we were to find out just how much they are spending on leads and where the companies are steering the students. Chip Wittrock www.CollegePrepMastery.com
Although the cost of college tuition may be rising a but more slowly than before, it's still going up at an alarming rate. It takes the average college student 5.6 years to graduate. Can you imagine how much this will cost? That's why it's critical to have professional college planning assistance to ensure you're prepared. You need to be in and out, in four years or less. Enjoy The Show. Chip Wittrock www.CollegePrepMastery.com
Today we discuss 'The 90/10 Test' For-profit schools cannot receive more than 90% of their revenue from federal aid. College s that fail to comply with the rule for two consecutive years, will lose the opportunity to receive federal aid for the next two years. This is a big deal and we explain why. Enjoy the show. Chip Wittrock www.CollegePrepMastery.com
The demand on high school guidance counselors has never been greater. The attention paid to students is minimal, yet they are making one of the biggest decisions of their life. Fortunately, college planning resources are just a click away. Of course, we believe the BEST college planning resources are located at www.CollegePrepMastery.com Enjoy the show! Chip Wittrock Co-Founder, www.CollegePrepMastery.com
States are going to be giving colleges less money; Making it critical that parents and kids are well-prepared. Law makers will be crafting incentives to make sure students gain their degree on time. Some states will be appropriating monies based on the college's ability to graduate their students on time - Finally! Contact our college planning team today to make sure you 'Know before you go." Chip Wittrock, Co-Founder www.CollegePrepMastery.com
Today we drill down further into student loans, specifically the alarming rise of defaults on student loans. Wait until you hear some of these student loan horror stories - it's insanity. You must have a plan for college funding. The name of the game is: Get into college Get Out Get to work Don't hang around wallowing in debt like most students.
We begin our three part series, investigating Parent PLUS Loans. PLUS Loans are federal loans that graduate or professional degree students and parents of dependent undergraduate students can use to help pay education expenses. The U.S. Department of Education makes Direct PLUS Loans to eligible borrowers through schools participating in the Direct Loan Program. PLUS loans are easing to get but near impossible to get out from under. We pull back the curtain of PLUS loans in our three part series. Buyer Beware. Chip Wittrcok Co-Founder, www.CollegePrepMastery.com
Recently, one college dropped their annual tuition by a whopping $10,000. Awesome, right? Not so fast. There's way more to the story than meets the eye. When a college drops tuition by $10,000, you may not save much money at all. The shocking truth is revealed in today's show. Chip Wittrock www.CollegePrepMastery.com
Erinn Drysdale runs the website www.Granted4U.com Erinn searches for scholarships on behalf of college bound students. Granted4U.com helps the student build a winning portfolio based on what is required from entities granting that are granting scholarships. The student then send the information to Erinn, who then completes the application in their behalf. Erinn's company sends them a list each month of what's been done for them. Then the student receives the results. So what are the results? Erinn's success rate is approx 90%...Whoa! On average Erinn's company wins about $8,600 in scholarship money for the student. Listen closely to today's show, you'll be glad you did. Chip Wittrock www.CollegePrepMastery.com
College affordability has become a huge issue in this year's Presidential election. Both parties are talking about financial aid. We want to see you get in and out of your best choice for college..... for the least amount of money. Do you want a student loan? All you need to answer "Yes" to is this question: "Are you a full-time student?" How about this question: "Can you repay the loan?" Don't just borrow money to pay for college. It's the one creditor you can never shake lose from the rest of your life. Learn before you go. Chip Wittrock www.CollegePrepMastery.com
Most college students are focused on everything OTHER than their credit scores. As of 2010 credit card companies can no longer offer the 'ethical bribe' of enticing students to apply for credit. However, college students are still finding ways to open lines of credit. As with anything, the message is buyer beware. Credit can be used for good and bad. Knowing the difference is the key. Chip Wittrock, www.CollegePrepMastery.com
Today I interview a very special guest, Adam Carroll. Adam is founder of the National Financial Educators Program, author of 'Winning The Money Game', Creator of Scholarship Mastery and co-founder of Succeed Faster Seminars. Adam knows first-hand what it's like to be swallowed up by debt, specifically college debt. Adam has a great story and now teaches globally on how to take control of your personal finances. Get ready for a great show! Chip Wittrock Co-Founder www.CollegePrepMastery.com
Thinking of converting your IRA into a Roth IRA to help pay for college? There are many variables tied to this decision. Today's show explains the pros and cons. Timing and preparation are everything when going this route. Chip Wittrock Co-Founder www.CollegePrepMastery.com
- Enrollment is up - Tuition is up - Competition to get into college is up. We say: You couldn't choose a better time than right now to enroll in college! Enjoy today's show. Chip Wittrock Co-Founder www.CollegePrepMastery.com
The sooner a college student realizes they have to change majors, the better. Arizona State has a cutting edge system that tracks a student's progress as it relates to their major. If they stray of course, they receive an alert. Listen to today's show and discover how you can avoid speed bumps on your way to graduating in four years or less. Chip Wittrock www.collegeprepmastery.com
Learn the real story behind job placement numbers. Have you ever heard of the term 'under-employment?' This one placement statistic is hidden when most colleges report their job placement figures. Think of a college graduate working as a parking attendant. They have a job, right? True. But not the job they want. We pull back the curtain on these numbers and also give you advice on how to not end up as one of these statistics. Chip Wittrock www.CollegePrepMastery.com
Imagine getting a real feel for what your career will be like? We've never seen anyone come out of History 101 and say "I want to be a lawyer." Too many students fall into the 'debt without a degree'- or get their degree in longer than 4 years. Today's information is counter-intuitive but will open your eyes and have you thinking about the most effective way to take on the biggest decision facing high school graduates.
Traditionally the ACT has been a rival test to the SAT. Not so much anymore. More and more high school students are taking the ACT. Recent studies show that 26% of kids are 'ready to go to college.' What does this mean? Listen to today's show and find out. Remember: You need every edge to obtain more grant money & college funding. Higher ACT/SAT test scores are vital to your college success. Chip Wittrock www.CollegePrepMastery.com
Osman Rashid is the co-founder of Kno, Inc - an E-Text Book company which has primarily served the college market, now moving into the K-12 market. E text books are not only fascinating but also a very practical. Think about your child no longer having to carry around 30 lbs of books each day, which equates to over 9,000 lbs in one year. Also, the one-time investment is as low as $40-45. Osman generated this idea like most entrepreneurs, out of pure passion. While helping his child with homework, it occurred to him that we was doing homework the same way he did it four decades earlier. Today's interview is eye-opening to the new world of E learning. Enjoy. Download Your Free Report Here www.FiveCollegeMistakes.com
Chip sits down with Michael Dresser to warn parents on the biggest mistakes made in the college planning process. Download your free ebook www.FiveCollegeMistakes.com
Did you know: 75% of students who complete financial aid forms are only sending it to one school. If colleges know you are only applying to one school, why would they give you additional incentive to attend their institution? You're a shoe-in to go to their school Done deal. You should be applying to more than one college and we'll explain why in today's show. Chip Wittrock Co-Founder www.CollegePrepMastery.com
There assessed assets and non-assessed assets. A 529 Savings Plan is an assessed asset and will count against you when applying for financial aid. The more money in your 529 plan, the less financial aid you will receive. If you didn't know this, it's not your fault. Most Americans think 529 plans are a good idea. Listen to today's show and understand why you should be focusing on non-assessed assets as part of your college financial planning.
The recession has motivated many students to save money by limiting the amount of time they spend in college. However, you cannot do this if you’re not crystal clear on where you are going. Our saying has always been: “Know Before You Go” One idea we share in today’s podcast is to take advanced placement classes in high school which will carry into your first year of college. Listen to today’s show and see how you can accelerate your college career. Chip Wittrock www.CollegePrepMastery.com
This is time for the best of the best to show up for the college entrance exams. The ‘community’ is being stripped out of community college. Seats will be occupied by students who are the best prepared. Not every student does well on placement tests. More and more studies show that students who are not prepared for even a two year community college, will be redirected into the workforce. College administrators are concerned that funds designated for colleges will be cut if they cannot show high percentages of students graduating. Chip Wittrock www.CollegePrepMastery.com
I'm concerned and you should be too. The US Government is not looking out for you. You play the biggest role in the outcome of your financial future, specifically as it relates to college costs. It has never been more important to identify the best career path for you. Today's show will shock you but the good news is we have the solution to the problem.
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