Financial Aid Changes for 2026: What Families Should Know

Webinar Transcription

2027-7-21-Financial Aid Changes for 2026: What Families Should Know

Anna: [00:00:00] Hello, everyone. Good evening, or afternoon, or morning! Whatever time it is from wherever in the world you’re joining us, we’re so happy you’re here for our webinar with our partner, Ascent, on, “Financial Aid Changes for 2026: What Families Should Know.” My name is Anna Vande Velde, and I’ll be your moderator today.

Anna: I’m a senior advisor at CollegeAdvisor, where for the past four years I’ve worked with students one-on-one in advising sessions, and I’ve been a co-captain of our essay review team. Some quick logistics to cover before we get

Anna: started. On the sidebar you can download the slides to follow along. This session is also being recorded and will be emailed to everyone who registered, uh, so you can look back to see, uh, to, to [00:01:00] re-listen. Without further delay, it’s my pleasure to introduce our presenter today, Allie Danziger. She’s going to share a bit about her background, go over our outline for today’s webinar, and then we’ll do a quick poll before getting into the rest of the presentation.

Anna: Ali, uh, welcome. Could you share a bit about-

Allie: Thank you. Thank you so much. I’m so excited to be here, and thank you to everyone who’s attended today to… Uh, we’ve got a lot to cover, so thank you for including me Y- you ready for me to just jump right on in? Okay, perfect. Sounds good. Um, well, I have to start off by saying one of my favorite parts of doing webinars like this one is just getting to connect directly with students and families like you all, and help support the questions that I know you’re navigating as you prepare for college.

Allie: What we know at Ascent from working with hundreds of thousands of families and students is that you aren’t here looking for complicated financial aid explanations. You just want to understand [00:02:00] your options and feel confident that you’re making good decisions, so that’s what today is really gonna be about.

Allie: No matter where you or your family are in your college journey, I really, really hope that you leave tonight with a better understanding of the changes that are happening, a better sense of what they mean for your family, and a few practical next steps that you can take. And if you feel overwhelmed by the process, you are not alone.

Allie: Thank you to everyone for being here. There’s so many who are here tonight, and the good news is that understanding a few key concept is going to really help you make this process feel a lot more manageable. You had asked me to answer why I joined Ascent as well, so I would love to take a second to address that, um, if you don’t mind, Anna, before we, we continue on the slides.

Allie: Um, so I actually created a student success company in 2020. After working with young professionals for 15 years, I saw a huge gap that students really were missing and didn’t understand when they [00:03:00] graduate college what they need to be successful in the workplace. So I created a software company that taught students and recent college grads everything they need to know, and all of those unwritten rules of the workplace.

Allie: Um, and I actually sold that company to Ascent in 2023. Today is my three-year anniversary of that, uh, of joining the company. Um, that wraparound support is so key to the success that we find, uh, with our borrowers at Ascent. We know that edu- that, uh, financing your education is just one step that people need in order to be successful, but really getting that job and having the support as they enter the workforce is key.

Allie: And so that company that I created in 2020 is now called Ascent Up and available to all of our borrowers. Uh, I’ll talk about it a little bit more in the presentation tonight, but, um, because Ascent was not just a lender, but really an innovative education company that saw so much [00:04:00] potential in its students and saw so much opportunity, that they wanted this as an additional benefit to borrowers, is why I joined and why I’m still here, and I love it every day.

Allie: So let me continue with what we will talk about tonight beyond just my journey. Um, and feel free to drop questions into the chat, and if we don’t address them here, we will be following up with a blog post to answer whatever questions we weren’t able to address tonight. But first, we’ll talk about what’s actually changed in the financial aid world.

Allie: There’s been a lot of information flying around, a lot of blog posts and social media posts, and I wanna help you understand what’s most relevant for your family. Then we’ll talk about what those changes could mean depending on where you are in your college journey, and we’ll spend quite a bit of time in the planning because ultimately, this isn’t just about understanding the new laws and rules, it’s about making smart decisions for you and your family.

Allie: And finally, I’ll share some resources that I’ve found incredibly helpful for families over the years who want to [00:05:00] keep learning and exploring their options. So throughout this webinar, I really want you to think about your own situation. There isn’t one right path. There isn’t one time that it’s important to get started.

Allie: Earlier is better, but if you’re here planning for the summer or fall, you’re okay, and we’ll just work through what works best for your family’s unique situation And so with that, Anna, if you could launch the poll. Before we dive in, I really just love to understand who is here tonight so that we can make sure that we’re addressing the conversation for you.

Allie: And, uh, at various points of the conversation, I’ll highlight where you might be and, and what you should be focused on

Anna: Yeah, so the poll is open. Please go ahead and submit your answers. Uh, oh, I’m seeing some come in now. Thank you. Um, I’ll give it another 10 seconds.

Allie: Perfect. It’s always so fun to see the [00:06:00] mix and people making decisions now and who are pl- others who are planning for far in advance.

Anna: Absolutely. So just so everyone knows, we have about 40% said they’re a parent or family member. Um, another 40% are applying for fall 2027, so rising seniors. Um, we have about 15% starting college in the fall. Congratulations! And then, um, the rest of the folks are either planning ahead or high school counselors.

Anna: We are so happy you are all here. Thank you for answering the poll. I’m gonna close it now and then officially hand it over to Allie for the, the core of the presentation.

Allie: Excellent. Thank you so much. And again, thank you all so much for being here. Um, so let’s dive in. What has actually changed? Over the past several months, as I’ve mentioned, there’s been so much news out there.

Allie: Some of it’s been helpful, and some of it has probably just made all of this so much more [00:07:00] confusing. But think of July 1st as kind of a dividing line. Students and families who are borrowing or receiving any financial aid after that date, so for the past 20 days, because we’re here on July 21st, um, may encounter a different set of rules than those who borrowed under previous policies.

Allie: And if you have a student in college and another one who’s starting now, those parents of you that are on the line, it’s possible that you’re even more confused because things are different for each of your kids. So there’s a lot of information to filter through, and it’s important to also recognize that not every change will impact every family.

Allie: So again, and I’ll say this 9,000 times tonight, but it’s important to think about your family’s unique situation. So as we go through the webinar, the lens I want you to use is don’t try to memorize every policy detail, but just keep focusing on what this means for you.

Allie: So to start with the first change, let’s talk about the Parent PLUS loans. [00:08:00] For years, Parent PLUS loans have given families tons of flexibility because eligible parents could often borrow up to the remaining cost of attendance. The re- these recent changes introduce new borrowing limits, which means that planning ahead is going to become even more important than it did before.

Allie: When you think about these caps, I want you to think about that not… that this is not a change that will affect every family the exact same way. For some families, these limits may never come into play. For others, those, those of you looking at higher cost schools or building a plan around a lot of borrowing, this is an important factor to consider.

Allie: This does not include your scholarships, your grants, your federal student loans, your family support, and other resources that may reduce or eliminate the impacts of these limits. So one question we’ve been hearing a lot is, “What if I have more than one child going to college?” And generally speaking, these limits are tied to the individual student, not the family’s children [00:09:00] collectively.

Allie: So the biggest takeaway really isn’t that the limit exists, it’s that you really have to just start thinking about funding earlier in the planning process than you maybe did before. So when you’re researching colleges, it’s really easy to focus on like, “Yay, where do I wanna go? What do I wanna study?

Allie: What’s the campus like? What, what’s the, um, books and everything going to be like?” But the important question also needs to be the affordability. And it’s not just one year, but it’s for the entire… thinking about funding for all four years. Um, so many people just get into the school, they think about how to pay for that first year.

Allie: But more than ever, you want to think about what is your path going to be to graduation, and what is the funding package that you’ve received and how will that help you get there? Remember, unfortunately, things don’t always go according to plan. So even though you’ve worked so hard to get to where you are today, make sure that you’re setting yourself up for a [00:10:00] long-term, successful future that supports your goals and also fits well within your financial plan

Allie: So next, let’s talk about Pell Grants. Pell Grants have also seen some changes. Um, Pell Grants are federal grants, which means they’re generally money that does not need to be repaid. That’s what makes them such an important part of many students’ financial aid packages. And when people hear that Fel- Pell Grant eligibility is changing, the first reaction might be like, “Oh, does this mean that I’m completely losing my financial aid?”

Allie: And the honest answer is maybe, maybe not, but it does depend on your family’s circumstances. So one term that you’re likely to hear more often is the student aid index, often called SAI. So think of the student aid index as the outcome of your FAFSA. We haven’t talked a lot about FAFSA yet, but FAFSA is the form that you [00:11:00] fill out so that the federal government can determine how much you’ll be eligible ful- eligible for in need-based financial aid, including the Pell Grants.

Allie: So generally speaking, you fill that out, you get something back, and a lower student aid index indicates a greater financial need, while a higher student aid index would indicate a lower financial need. Excuse me. So one thing that’s important to understand is that when you receive that, your student aid index is not your bill, and it’s not necessarily what your family’s expected to pay for college.

Allie: It’s just one of the many tools that will be used to determine your eligibility. Under the updated rules, some students who may have qualified previously for Pell Grants in the past may receive different results than they would have from the previous r- rules. So that means as of one of the parents who, on the call, who might have multiple children, um, that could mean different Pell Award amounts for one child and a different amount for another child, even if your [00:12:00] situation has not changed in the amount of time that you’ve been applying.

Allie: Another important change is that students whose grants and scholarships already cover your full cost of attendance may also see significant changes to your Pell eligibility. Now, if you’re starting to worry, I want you to put that… I want to just take a break and put this into perspective. Not every family, and I’ll keep saying this, is affected by these changes.

Allie: You may see no difference at all. It’s just important to take a look at what your, what you received, um, after you filled out the FAFSA, and then apply this understanding and these updated rules to make sure you really understand what your f- real and actual financial aid officer looks like. Financial aid offer looks like, not officer, excuse me.

Allie: Um, there’s also another side to the story that is not necessarily gaining as much attention that’s important to talk about, and that’s new students that may qualify. Pell Grant eligibility is also expanding to include certain workforce training programs and [00:13:00] certificate programs that historically were not eligible for, for Pell funding.

Allie: So these career-focused education programs prepare students for occupations like nursing and, or healthcare, inform technology, skill trades, manufacturing, and workforce-focused credentials. That’s super significant because not every student wants or needs to pursue a traditional four-year degree to build a successful career.

Allie: We at Ascend are seeing more and more students explore certificate programs, technical training, apprenticeship programs, and so many other pathways that can lead directly to employment opportunities. So what all of these changes really recognize is there’s just not one path after high school, and there, a- and as we know, and we’ve always known, but now there’s starting to be more recognition around is there isn’t just one definition of success.

Allie: I think what’s challenging in looking at this is that people are looking for the quick headlines that Pell Grants are going away or everyone is getting more aid. But really the story is that just the eligibility is changing. Some students might qualify for less [00:14:00] than they originally expected, and some students may qualify for nor- for more.

Allie: Um, so it’s important, as we keep saying, just to understand your situation, what change, what has changed for you, and how that plays into the overall funding mix

Allie: So what we’ve talked about so far is, um, getting aid and paying for college, but another key important part is what happens when it’s time to start repaying the loans. If you’ve been through the college process before or have older children, you may remember that federal loan repayment had a lot of different options.

Allie: For some borrowers, the variety of options could almost make it feel more difficult than deciding what type of lending to take out. But under the new rules, future borrowers, those who start borrowing after July 1st, so moving forward, you’ll see two primary repayment approaches instead of a long list of options like you see here on the left.

Allie: The first option is the more traditional repayment path. Think [00:15:00] of this as the more predictable path. You have a defined repayment structure and generally know what repayment is going to look like over time. Borrowers who value consistency and want a clear path to paying off their loans may naturally want to understand whether this approach fits their situation.

Allie: The second option is called a repayment assistance plan. This option works differently because payments are connected to your income. The idea is that if a borrower is early in their, early in their career or experiences change in income, payments would adjust accordingly. Those of you who place a high value on flexibility may spend more time looking at this type of approach.

Allie: There’s no better here. Um, it really depends on your plans, your career path, how you see the world, and the right path m- will depend on your own comfort level with repayment options. So for example, a student entering a field with a very predictable salary [00:16:00] trajectory may think about repayment differently than someone who’s entering a field where income would fluctuate more in the early years but have a higher, larger opportunity in the future.

Allie: So what I think is most important for families today is understanding that repayment isn’t something to only think about after graduation, but to start thinking about that now so that you can choose the right plan that works for you in the long term

Allie: So before we move on, I wanna pause on something that’s really important because it’s early to miss when people are talking about major policy changes, and not every student is starting from the same place. So as we’ve talked about, this only applies to new borrowers, but if you are already in college, already borrowing federal loans, or have a student who started school before these situations took place, your situation may look different.

Allie: One thing that can make financial aid conversations confusing is that two students can be sitting in the same classroom [00:17:00] next to each other operating under completely different rules depending on when they started borrowing. As an example, if you didn’t have to borrow for your first two years and you were able to cover that off of scholarships or savings, and now you’re maybe in your third year of school, you would fall under a different ruling than someone who is starting…

Allie: had started that borrowing, uh, two years ago when they were a fr- when you started your freshman year together. So if your student is already enrolled, already has federal loans, or is returning to school, just make sure that you think about your specific situation

Allie: So we’ve covered a lot of information, but at this point, there’s really only one question that matters. What does this mean for me? And the answer, again, depends a lot on where you are in the college journey. A student who’s starting college this fall, which we heard there’s some of you on here, congratulations, you’re making very different decisions than a student who’s entering 10th or 12th grade right now.

Allie: So we’ll- I’m gonna [00:18:00] spend a bit of time talking to each of you in d- each of these different scenarios so that you can think about which of these changes are most relevant to your situation right now. Some of you, it may be on understanding the, an aid package that you’ve received and making an enrollment decision that takes place in the coming weeks.

Allie: And for others, it may just be understanding how borrowing works in general. And for those families who are still a few years away from college, it may just be simply understanding about how today’s decisions in choosing the right school or taking certain tests can create better or more options for you in the future So we’ll start with those of you starting this fall.

Allie: Congratulations. This is a super exciting time, but it’s also when a lot of families start really seeing the numbers for the first time. So one thing I’ve learned from talking with families is that receiving a financial aid offers, offer doesn’t always answer the biggest question of what will we actually need to pay.

Allie: It can be really confusing, and we have tons of [00:19:00] resources on our website, other webinars that we’ve done that really break down what these letters mean and how to read it. It’s very easy to see a large aid amount and s- feel relieved. And trust me, of course, the aid matters. But the most important step is understanding what’s underneath that number.

Allie: It looks really small on my screen, so I don’t know if you guys can see this clearly or zoom in. But for example, some aid comes in the form of grants and scholarships that reduce the top line cost. Other aid comes in the form of loans that can help cover costs now, but may need to be repaid later. So if you’re preparing for fall enrollment, I just encourage you to spend some time understanding exactly how your aid package is structured.

Allie: Few questions. How much of our aid is grants and scholarships? How much is loans? What costs are covered? What costs are not? Is there a balance we still need to pay for? The… That’s really… I mean, that balance that you still need to pay for is where you have to [00:20:00] start thinking about scholarships, other grants, work study, and private loans.

Allie: In my experience, one of the most stressful situations for families is assuming that everything is covered and then being surprised when they receive this or not really understanding how to read this letter. So if you’re having questions, absolutely reach out to your school, reach out to your financial aid officers, and we’re also here and available to help as well

Allie: Um, yeah, I think we’ve covered everything there. Now, if your student is a rising high school senior, you’re entering a very important year as well. I think we had about 40% of you are there, and the good news is that you still have plenty of time to influence how everything unfolds. One thing I see a lot is that families are waiting until acceptance letters and financial aid officers arrive before they start thinking seriously about their affordability.

Allie: But by that point, you’re making real decisions, as you know. [00:21:00] But right now you can e- as you enter the fall, you’re still in this period of creating options. This is the stage where students are building college lists, narrowing programs, visiting campuses, working on applications, and hopefully, don’t forget, preparing for the FAFSA process.

Allie: And while it’s easy to focus on where the students want to go, I really encourage families to spend equal time thinking about how college will be funded. It can be a really awkward conversation to have in a family, especially if your family hasn’t historically talked about money. But a question that you need to be prepared to ask is, if this school says yes, are we ready to say yes back to them?

Allie: Because getting accepted and being able to confidently move towards financial ability to go to that school aren’t always the same thing. This is a great time to start understanding things like how financial aid works. Great job being here. What the FAFSA is used for, what scholarships may be available, what costs are covered by aid and what may not be.

Allie: It’s also a good time to have these family conversations, both e- as the [00:22:00] adults, and then between the adults and the kids. What is affordable? What borrowing would we feel comfortable with? Are there schools we’re really excited about but haven’t talked through financially yet? Again, I know these conversations are not fun, but they’re a lot easier to have now than they are after enrollment deposits are due, and you have to be having more difficult conversations as the excitement around senior year builds.

Allie: Another thing I encourage families to remember is that the best college is not always the one with the biggest name or the highest rankings. We have some really great tools on our website that talk about the ROI of various universities and majors that I encourage you to think about: What does the school actually mean for my long-term career plan?

Allie: And can I thrive here socially, academically, and financially? The families who tend to feel the most confident in the spring are not necessarily the families who have everything figured out today. You’re the families that are here asking questions early and giving yourself plenty of time to explore your [00:23:00] options.

Allie: So near the end of our time today, I will share a couple of more resources that you can dive into more as you’re in your planning.

Allie: And if you have younger students at home, everything we’ve talked about here is ap- applicable to you as well. You just have a little bit more time to prepare. And it’s not just about getting ahead of the stress. It’s about giving yourself more options when decision time arrives. One thing I always remind families is that college planning isn’t just about picking a school, it’s also about understanding what you’re working towards and how to get there.

Allie: So for younger students, one of the most valuable things you can do is start exploring career interests and academic programs. Not because you need to know exactly what you want to be doing when you’re a freshman in high school, but because understanding the different paths can help you make better informed decisions later.

Allie: It’s also really helpful to start looking at colleges through both that academic and financial len- lens from the beginning, so you don’t get to that point where you’re in your senior [00:24:00] year or, uh, you know, uh, trying to decide between schools and having to learn about financial decisions that you weren’t necessarily prepared for.

Allie: It’s equally important to start asking how much do schools like this cost, as well as what kinds of scholarships might be available at this school, to how do students usually pay for programs like these. Another great area to learn about early is simply how college financing works. Again, you’re here, so you’re doing great.

Allie: Understanding terms like FAFSA, scholarships, federal loans, aid packages before your senior year can make that whole process feel much less overwhelming later. And you might end up getting yourself into programs in high school or, um, m- things that will help you get scholarships in the future. I also encourage families at this stage to have conversations about expectations.

Allie: Not necessarily all the detailed numbers today, but questions like, what matters most in college? How far away would we want to go from home? How do we think about costs as part of the decisions? Again, the families who tend to feel most confident [00:25:00] aren’t necessarily the families who started planning the earliest.

Allie: It’s the families who gave themselves enough information to make thoughtful decisions when that planning moment really came, and that’s the goal here. We’re not trying to do perfect planning, not predicting exactly what college will cost in five years, ’cause who knows? But creating more choices and fewer surprises

Allie: So earlier we talked about understanding your financial aid package and figuring out what’s left after grants, scholarships, and federal aid are all applied. When families get to that point, it’s completely normal to feel a little nervous if there’s still a remaining balance. And I don’t know, maybe it’s a little larger than you expected.

Allie: Maybe you thought the financial aid would cover more, and maybe you’re just starting to get nervous. The important thing to know is that many families don’t pay for college using one single funding source. College funding is often about a puzzle of different pieces coming together to create a complete plan.

Allie: And like you see here on the right, that might [00:26:00] be scholarships and grants, there may be federal aid, there may be family contributions, savings accounts, income, lots of people are working during school, and a monthly payment plan throughout the s- through the school. And sometimes there are additional financing options that help you bridge the remaining gap.

Allie: Some pa- families are able to cover that remaining balance through savings and payment plans, and others look at additional financing options, like private student loans, to help cover costs that aren’t addressed through the scholarships, grants, federal aid, or family resources. The goal here is really understanding your options and building a plan that works for your family’s situation.

Allie: So here’s a really simple example. In this specific case, the student has already received scholarships, grants, and financial aid. I encourage you, if you already have your situation figured out, plug some of these numbers in for yourself so that you can understand what you’re, what this looks like for you.

Allie: But here, as you can [00:27:00] see, there’s still a remaining balance. And as we discussed, the goal isn’t necessarily to eliminate the gap using only one source, but build a realistic and sustainable plan for your family’s situation. There’s different ways to address the gap, as we’ve already talked about And when there is that gap, there’s- that’s also where Ascent funding can help.

Allie: Ascent, the company that I work for, provides private education loan options designed to help students and family cover the school-certified education costs while other funding sources don’t necessarily meet their needs. We offer options for both undergrad students and graduate students, and we have options for families that want the student to be the borrower with a cosigner on the loan to help.

Allie: Some prefer that the parent borrow and leave the student off the loan, and others might be graduate students financing their education completely. We’ll go into all of this in a second. Our goal is to provide options that allow families to choose the path that best aligns with their situation. [00:28:00] So as you’re evaluating financing options, I always encourage families to start with a simple question.

Allie: One, how much do we actually need to borrow? The best borrowing decisions typically start with understanding the gap, like we’ve talked s- talked about. First maximizing scholarships, grants, federal aid first, and then financing only what remains. Whether you’re looking at Ascent or any other financing option, it’s also important to understand eligibility re- requirements, repayment expectations, and the overall borrowing costs before making a decision.

Allie: I’m not gonna try to sell you guys on Ascent tonight, but look at the other benefits that are available with that loan provider as well. The goal is not simply about accessing financing, but building a plan in a way that’s informed, intentional, and aligned with your family’s financial situation

Allie: So as I mentioned, I would address, we get the questions of should the student borrow, should the parent borrow, or should we apply together? And [00:29:00] the truth is, as I’ve addressed on like almost every question, there is not one right answer. Different families choose different paths based on your individual goals, financial situation, credit history, and how you want to think about repayment in the future.

Allie: So first, I know there’s so many words on this slide, so I apologize. Feel free to take a screenshot, and again, we will send, um, the recording out afterwards, so you can address it later. But if we look at the left-hand side and think about the student borrower only. In this scenario, the student applies independently and is the sole borrower.

Allie: This is often most relevant for students who want to take responsibility for the financing themselves and who meet the eligibility requirements to qualify on their own. Because the student is applying independently, factors like credit history and financial profile become important considerations. As we go to the middle, you’ll see a student and cosigner path, and this is very common.

Allie: Um, this is often the path families explore when a student is still building credit or [00:30:00] financial history. The student remains the borrower, but a parent or guardian or another individual supports that application. For many first-time college borrowers, this is a familiar approach because students are often still in the process of building their own credit profile.

Allie: It is important to note that cosigning is a real commitment with credit impact to the cosigner, but it can help with approvals and better interest rates due to established credit history. One thing I’ll say at Ascend and many private lenders is there can be options to release the cosigner after a certain amount of payments so that the student is actually building that credit and building that credit history in, uh, while they’re on the loan.

Allie: And the third path is parent borrowing. In this case, the parent, guardian, or sponsor is the sole borrower and assumes responsibility for repaying the full loan amount. Some families prefer this structure because the parent wants to manage the financing directly rather than have the student take on that obligation.[00:31:00]

Allie: What I always encourage families to think about isn’t just who can borrow, it’s who wants to be responsible for repayment after the loan or during the loan, and how that decision fits into the family’s broader financial plan

Allie: If there are questions, I cannot see them. So Anna, we can address those at the end. Um, but feel free to keep adding questions if you have any And so, um, what I shared at the beginning of why I joined Ascent is really about what something that I’ve learned since the beginning of my career is that families, one, don’t wake up in the morning thinking, “I need to take out a student loan.”

Allie: They think about, “How do I get my student to graduate? How do I help them build a su- successful career? What am I missing that I need in order to build this life that I dream of, and how can I become financially independent?” And really, what aligned for me with this company is that’s the way that Ascent thinks about things, too.

Allie: [00:32:00] They’re not just thinking about, “Oh, I want to fund people’s education.” That’s only one piece of the journey. At Ascent, our mission has never been just about helping students pay for school, but it’s a- about helping students build a brighter future. That’s why when a student borrows with Ascent, they’re getting more than access to financing, and as you can see here, um, we help students before borrowing to make an informed decision while they’re in school with coaches to stay on track with their education and ensure that they graduate in a, on time, prepare for the workforce, so really building career readiness with coaching and access to interview prep, job search guidance, and resources w- that are aligned with their career goals.

Allie: And then building the financial confidence that they need post-graduation or during, um, during education as well to help them navigate repayment and build better confidence in managing their money[00:33:00]

Allie: So I know we’ve covered a lot tonight, and we’re not done just yet. We have a whole suite of resources that you can use. If you scan this QR code on the left, you’ll find planning tools like student loan and ROI calculators so that you can estimate costs, compare options, understand p- potential monthly payments, and th- think through the long-term impacts of your college decisions.

Allie: Also, I know that we have some, uh, financial aid officers from schools. We have a whole host of resources for you as well, both to use at your school and with the students that you serve. On the right, you’ll find a bunch of scholarship resources that can help you identify opportunities, help- to help you reduce what you and your family may need to borrow or pay, including our $10,000 scholarship that is available right now.

Allie: So I hope that all of this wasn’t too overwhelming and that these resources help turn today’s conversations into action, and thank you for being here. I encourage you to keep learning, keep asking questions, and [00:34:00] continue taking these next steps forward in your education

Allie: Looks like we don’t have any questions that are coming in live, but we did have some questions come in before, so I will take a few minutes to address those. And as anyone has any additional questions, please feel free to throw them into the chat. Um, we won’t have time to address all of the questions that were submitted in advance, but as we shared at the beginning, this has all been recorded.

Allie: We’ll send it out, and then we’ll also put a blog post on Ascents blog so that we can address any additional questions that we weren’t able to get to tonight. Um, okay, so some of the questions that popped in, um, a lot of questions about, like, how do these changes affect my child specifically? Uh, and I hope that we addressed a lot of those tonight because so much of my answers continue to be th- it depends on your individual family and your [00:35:00] students’ situations.

Allie: I know I keep repeating myself, but the changes to Pell and what’s happening and limits, while everything is changing, some students may see no impact at all, and some might be pretty significant. And so the most important thing to understand is your student’s individual aid package, and, uh, I do encourage you to look at that, what you’ve received.

Allie: Talk to your school’s financial aid officers and work through what works best for you. Hopefully, also some of these resources on how to understand what that gap is, how to fill the gap will also help to address that. Um, another question: I just lost my job. Will that affect my financial aid? Possibly. The FAFSA is often based on your prior year tax information, which may not reflect significant changes in your current financial situation.

Allie: So if you’ve experienced a major life event such as a job los-loss, I suggest you contact your school’s financial aid office. Um, i-if it’s one that you’re [00:36:00] not in yet, but a couple of schools that you’re considering, they’re here to talk to you, and there’s usually a process for reviewing special circumstances like what you might be going through, um, with documentation so that you can recalculate that SAI.

Allie: So the Student Aid Index. So I do encourage you, don’t feel discouraged. It may feel like a longer process, but by talking to the financial aid officers, they can help you with that. Um, what is the path to financial aid? The number one thing to do first is to complete the FAFSA. So get that started, get that completed as soon as possible.

Allie: It can take families a little bit of time because there are various documents that you have to get together. You may not have all of them ready, so complete the FAFSA. Second is review scholarships and grants. There are so many different opportunities online. Ascend, we currently have various scholarships that are giving away over $25,000 in giveaways, so scan those QR codes that I had on the previous screen.

Allie: I’m gonna go back to it if I [00:37:00] can. Um, but find the right scholarships for you. There’s tons of resources out there. Um, some of ours require no essay for the most part, and they can be filled out very quickly. Others, they might re- have essay requirements, and in those cases, find the ones that are right for you.

Allie: Every student has a unique skill set, something that sets them apart, something that got them in, got you into that college, so find the scholarships that fit for you. Um, as we’ve talked about tonight, review your financial aid eligibility and then evaluate whatever those remaining costs are and create a plan to cover them like we’ve talked about tonight Um My child is a US citizen living overseas.

Allie: Can they get aid for college in the US? Um, many US students attending eligible schools in the US may still complete the FAFSA and may still be considered for finan- federal student aid regardless of where you’re currently living. The most important step will be making sure the [00:38:00] student meets your eligibility requirements and completes the FAFSA during the appropriate application cycle.

Allie: Also, there are, uh, private student lenders that do help to support international students, um, so consider a private student loan if you cannot find the right federal ones as well. Um, we own a small business. How does that impa- impact financial aid? Business ownership can add a bit of a complexity to the financial aid process because different aid formulas may evaluate information differently.

Allie: Um, you’re going to have different forms, but I do of c- I’ve been a small business owner for m- many of my career, and I encourage small business owners to still complete the FAFSA just a little bit more carefully and review the, your institution’s specific requirements and the forms that you need to be filling out.

Allie: And if anything feels off or confusing, contact your financial aid office about how a business owner, um, may need to share information [00:39:00] differently. Um, let’s see. I think that is a lot of the questions, only because I don’t wanna keep repeating myself. Um, financial aid is so incredibly personal. Two students can look so similar on paper and just receive very different outcomes because of the school, financial s- family situation, your FAFSA information, and your enrollment plan.

Allie: So I just encourage families to focus on your individual aid package, and work directly with your financial aid office when you have questions about your specific situation. Um, with that, Anna, if there’s no other questions, uh, I think we’ve addressed everything.

Anna: Thank you. Allie, there is a question about your scholarship.

Allie: Yes.

Anna: Um, the form is asking for their college or potential, potential college- Wow … but the student is a sophomore. Oh. And they’re 15, so they’re not sure, you know, [00:40:00] what college. Um, any advice for them?

Allie: Yeah. Uh, anyone over 14 is eligible to fill out the scholarship form. Um, just where you want to go to college.

Allie: It doesn’t have to be, um, where you actually will be attending, but we would just love to know where your dreams are. But, um, it does not have to align with where you actually end up going to school.

Anna: Really helpful. Thank you. Of course. Um, thank you Allie so much for your time. Thank you everyone for joining.

Anna: Um, uh, any last words you wanna share with everyone, Allie?

Allie: I’ll just thank you so much for including me and Ascent on this. This is such a busy time for students as well as for schools. Um, thank you for taking the time tonight. Thank everyone who joined for, for taking the time. I know that this is such a stressful time for so many, and so I hope that this was able to provide a little bit of guidance, a little bit of stress relief, and just feeling like you [00:41:00] have a little bit more knowledge to make the right decisions for your family.

Anna: Love that note to end on. Thank you everyone for joining us. Reminder, this recording will be emailed to you so you can look back if you have any questions. Best of luck with your applications, and take good care.