{"id":44063,"date":"2024-10-31T17:14:01","date_gmt":"2024-10-31T21:14:01","guid":{"rendered":"https:\/\/www.mominthecity.com\/?p=44063"},"modified":"2024-10-31T17:17:28","modified_gmt":"2024-10-31T21:17:28","slug":"2025-college-financial-planning","status":"publish","type":"post","link":"https:\/\/mominthecity.com\/2025-college-financial-planning\/","title":{"rendered":"College Financial Planning Starts Now (Even Before FAFSA!)"},"content":{"rendered":"\n

While the FAFSA application<\/a> doesn\u2019t open until December, there\u2019s no time to waste when it comes to college financial planning. Here are some resources that helped me before and are helping me now!<\/p>\n\n\n

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\"2025-2026<\/figure>\n<\/div>\n\n\n

1. Get Your FSA ID Ready<\/strong><\/p>\n\n\n\n

This year, the FAFSA application opens on December 1st. You will need a FSA ID<\/a> to fill out the FAFSA and to review the federal student aid your family receives. You don\u2019t have to wait for December to apply for your FSA ID though. I suggest doing this now so you have one less thing to do in December when it\u2019s time to complete your FAFSA form. <\/p>\n\n\n\n

2. Unlock More Aid with the CSS Profile<\/strong><\/p>\n\n\n\n

If you are looking for financial aid beyond federal aid, fill out the CSS Profile<\/a>. It is used to award aid, scholarships and grants from participating colleges and universities. (Each year the CSS Profile unlocks access to more than $10 billion in nonfederal aid to thousands of students.) Your student can fill out their Fall 2025\/Spring 2026 profile now.<\/p>\n\n\n\n

3. Estimate College Costs with the Net Price Calculator<\/strong><\/p>\n\n\n\n

Knowing how much potential colleges cost is key. To help, every college is required to have a Net Price Calculator<\/a> on their website. This tool helps families estimate how much financial aid they might qualify for at a specific school. Be sure to use the Net Price Calculator to compare costs so your family can make informed decisions.

With both of our sons, we let them know that we had saved a certain amount for their college costs. If they want to go to a college that exceeds our college savings then we do a thing that I call \u201cmatching effort\u201d. Practically, that means that they would need to apply for scholarships or grants (or be willing to take out loans) to meet half of the remaining balance.<\/p>\n\n\n\n

My oldest son is school loan-adverse so he got a scholarship and went to a CUNY college with a specialized program in his field. He will graduate from college debt-free. We\u2019ll see what our youngest son decides\u2026<\/p>\n\n\n\n

NYC Bonus Tip! Don\u2019t Miss These Application Deadlines:<\/strong><\/p>\n\n\n\n

New York City residents, take advantage of these opportunities that I mentioned in my College Application Month post<\/a>:<\/p>\n\n\n\n