How to Pay for College Tips from Gen Tanabe

The following information was shared with JCPS Counselors by author Gen Tanabe. Mr. Tanabe speaks across the country to parents and students about the college process. The information is meant to provide a starting point for parents/students as they begin looking at colleges and financial options. It is not a substitution for more thorough research on financial aid and college admissions. This is not a promotion for the SallieMae Foundation

Financial Aid Facts 97 billion in financial aid was awarded last year 850,000 students qualified for federal grants but received nothing because they did not apply

Bottom Line Every family should apply for financial aid regardless of income! Do not pay people to file for you—it’s free!!

How to Maximize Aid Don’t miss deadlines Money is handed out first come first serve at colleges Keep your child poor—money in child’s name assessed at a higher value than parent Complete FAFSA early—Jan 1, 2009 applications accepted

Make the Expense REAL You and your student should look together at the cost of a 4 year college education Trend data shows parents requiring student to hold some form of financial stake in cost of education i.e. paying for books, insurance, gas, meal plan

Sallie Mae Educational Investment Planner Estimate the total, multi-year education cost Understand Funding Options Estimate Repayment Costs-if loans are part of the plan

Scholarships Pick Up the Phone Community- Lions Club, Rotary, Knights of Columbus etc Unions Current Employer— UPS, YUM etc Newspaper College- financial aid advisor for complete list Church Local Businesses Professional Organizations

Motivate Students to Start Early Scholarship Club-Don’t Look Alone meet at a local coffee shop and bring 2 scholarships to join group Mommy/Daddy 401K- offer to match scholarship money earned by student Scholarships for Everyone— lefties, tall, psychics and more!

Visit the School Library Male High has 3 copies of Mr. Tanabe’s book “How to Pay for College-a practical guide for families” Check one out today!