FAFSA Expert Shares Money Saving Tips (Student Loans, Grants, And Scholarships)
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What's happening, guys? It's Shane here. Welcome back to the channel. And today I brought on a
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very special guest. We are going to be talking about financial aid and getting your education
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paid for. So I brought on the world's foremost expert in financial aid, the FAFSA guru
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Tina Seel. So thank you so much for coming on the channel, Tina. Thanks so much for having me, Shane. I'm super excited to talk with all of you today
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Yeah, Tina has a really massive following on Facebook and she's starting to get a pretty
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big following here on YouTube as well. So definitely check out her YouTube channel
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I'll link that in the description below. But yeah, Tina, I wanted to get you on the channel
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so we could pick your brain about financial aid stuff because as my followers know, I'm all about
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getting the most out of college with the least amount of time, effort and money
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So, you know, that's kind of what this channel started off with is kind of, you know, teaching
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people how to get the most out of college with the least amount of time, effort and money
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And you are probably the world's foremost expert on the money part of that. So one thing I wanted
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to start off right off the bat is some people might be thinking, oh, FAFSA, you know, I don't
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need to apply for that. I'm not going to take out any loans for college. That is one of the
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most common misconceptions about FAFSA. You want to apply for FAFSA if you're going to college in
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the United States, no matter what. It doesn't matter if you're not taking any loans out
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doesn't matter if you're low income or you're the highest income. You want to apply for FAFSA
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no matter what, because it's automatically going to apply for a bunch of scholarships
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and grants for you. And you're very likely going to land some of those just right off the bat
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at the schools that you apply to. So that's one thing I wanted to mention right off the bat. And
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did you want to add anything to that, by the way, Tina? Yeah, I just think it's so important. I mean
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for a couple of reasons other than institutional scholarships that are out there, you know
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I recommend that every single student appeal their financial aid offer. 80% of students who
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file a financial aid appeal will receive additional aid in the form of free money
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But in order to do that, you have to get a financial aid offer, which means you have to
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fill out a FAFSA form. And then something might happen during the year where a student decides
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they need to borrow a loan that they didn't plan on borrowing. So if that FAFSA is not on file
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they can't do that. So that I would just like to kind of add that. Got it. That is a great point
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And that is something I think I'll probably ask you about a little bit later on in more detail
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But right off the bat, like what are the different types of financial aid? So there's a lot of
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different types of financial aid out there. The first and the most common is federal and state
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financial aid that students are applying for when they fill out a FAFSA form. It comes in the form
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of grants, which are free based on income, federal work study, which allows students to get a job
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working on campus and earn a paycheck for the work that they do, and federal student loans
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low interest loans that don't have to be paid back until after graduation. And that students
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apply for by filling out the FAFSA form. There's also institutional scholarships, which are free
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and it really depends on the college in terms of how much institutional scholarship money they have
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to offer. Sometimes colleges will require what's called the CSS profile, which is a supplemental
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financial aid form that they use in order to determine how much of that scholarship money to
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award. And then another type of financial aid, which often gets overlooked, and I see a lot of
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students leaving the money on the table for are outside scholarships. There are literally thousands
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and thousands of scholarships out there that students can be applying for, which are separate
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than the FAFSA, but they don't take the time and effort to do that. So those are the three different
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types. There's also private education loans, which I typically try to tell students to stay away from
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unless it's absolutely necessary. So I'm not a big promoter of those
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How does somebody go about applying for financial aid, somebody who's like 1718
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or maybe they're watching this, they're the parents of somebody who has decided that they're
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going to go to college? How do they even go about applying for student aid
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So the first thing that they need to do is fill out what's called the Free Application for Federal
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Student Aid, the FAFSA form, which they can find at fafsa.gov. Every student that wants to access
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money to help them pay for college needs to fill this out every single year. And if the student's
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under 24 years old, so you know, I have a lot of students in high school, high school seniors that
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I'm working with, they're going to be dependent on their parents information. So the student and
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parent will need to fill out the FAFSA form. Once they hit 24, they're considered independent
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and they can actually fill out the FAFSA on their own with just their own information and their
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spouses if they're married. One little caveat to that if a student is under 24 years old
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and they have a child that they're supporting, or they're married, or they're a veteran of the
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armed forces, or they were homeless within the last year, or they were in foster care
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or emancipated, then they do not need parent information on the FAFSA form
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Got it. And is financial aid available for any career out there that anybody would want to get
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into? So not every career financial aid is offered at institutions that are eligible for Title IV
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funds. But there are a lot of like two year colleges out there that offer shorter term
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training programs like certificates and two year degrees, where students can actually access
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financial aid. And then in addition to the four year, the two and four year colleges, there's
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something known as proprietary schools, which tend to be shorter term training programs where
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students are earning like a certificate program. You know, things that come to mind are like medical
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coding and billing, things like that, even truck driving school, different computer certifications
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you know, cosmetology school where students can actually access financial aid to pay for the
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program. So provided the school is eligible for Title IV funds, then you can apply for financial
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aid. Got it. And what can students do if they apply for financial aid, and maybe they don't
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get enough scholarships, grants, and money? Is there, do they have any options at that point
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So there's two things, which I briefly mentioned a couple of moments ago. The first is they should
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be applying for outside scholarships every single year consistently throughout the year. There are
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scholarships out there that are available for students ages 13 and older. So high school
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freshmen, sophomores, and juniors can be doing this all through high school and then senior year
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That's the most important year. You want to, I recommend students apply for three to five
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scholarships each and every month if they're serious about, you know, really closing that
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financial aid gap. And then once they go off to college, they can continue actually applying for
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scholarships each year they're in school. So searching and applying for outside scholarships
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would be the first thing that they can do. The second I mentioned a few minutes ago is appealing
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their financial aid offers. As I said, 80% of students who file a financial aid appeal will
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receive additional aid in the form of free money. And there's a myth out there that in order to do
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this, students have to have special circumstances such as reduced income or something like that
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And that's not the case. I would say probably 75% of the families I help with that process
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don't have any special circumstances. They are just humbly asking the financial aid office for
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additional money because the college is out of reach financially. There's a strategic way to
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write a letter and some specific things that should be included in a financial aid appeal
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So those are the two things that I would recommend. Got it. Yeah. And just a second
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what you said there, I've worked with a bunch of different students who, you know, they go on these
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websites like fast web, for instance, and they apply for a bunch of these scholarships
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And like you said, I mean, it might be a thousand dollars here, $1,500 there
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but especially if you start applying early, if you're early on in high school
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there's a lot of scholarships that only freshmen in high school can apply for. And then a lot that
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sophomores can apply for. And I've seen a ton of different examples of people who do these
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you know, writing competitions, the scholarships that you apply for, et cetera. And they just get
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all of their college paid for like right off the bat. And one of the cool things, I don't know if
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this is technically what people are supposed to do, but sometimes they just straight up give you
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a check. Right. So if you want to go buy a new Mac book, you want to buy a new nice computer
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something like that. You can do that. I think that don't, maybe, you know what, maybe I shouldn't
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say, I don't know if you're technically supposed to do that. No, you're right. You're right. Yep. Absolutely. You know, for education related expenses, which can be a lot of things. So
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yeah. Some scholarship organizations will just send a check to the student. You're
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yep. 100% correct about that. I may or may not have bought a Mac book in 2011 when I got a
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scholarship possibly that lasted me almost 10 years. Yeah. Yeah. So that, that may or may not
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have happened. But what about for part-time students? Can part-time students still apply
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for financial aid? Yeah. So as long as you're pursuing six credits a semester, which is
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typically two classes, you can apply for financial aid that will help you pay for college. So a lot
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of non-traditional students will pursue, you know, school part-time maybe because they're
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raising families or they have full-time jobs, but yes, absolutely. Got it. And then what would
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you say, like, what are your favorite sources for applying for scholarships out there? Are there any
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particular ones that are kind of like the low hanging fruit? You know, you notice people get
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a lot of, a lot of value out of. Sure. Yeah. You know, the first thing I want to say with scholarship
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searching, I think one of the biggest mistakes students make is they go for the ones that
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they're trying to get the biggest bang for their buck. So they're applying for the 10,000, 20,000
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$30,000 scholarships that are going to have a lot of competition. The best scholarship students can
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be applying for tend to be around $3,000 or less because they're not as competitive. If students
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are applying for five, you know, they've received five $2,000 scholarships, that's $10,000. So some
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of the best resources that I see are scholarships.com. That's a great website that I really
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like. There is a search directory feature at the top of the page that students can use to actually
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search for scholarships by category. Another one that I like is called myscholly.com and it's
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M-Y-S-C-H-O-L-L-Y.com. That one does cost $7.99 a month to be a part of, but I highly recommend it
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I've seen a lot of students that are accessing some really great scholarship resources and having
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a lot of luck receiving them from that website. Then for if there's any high school seniors
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watching this, they want to check with their high school guidance office of their high school for
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local scholarships. There's a ton of local resources that students miss out on because
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they're not searching for them. And then lastly, your state's higher education agency. So every
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state has a department of education along with a state higher education agency of the state that
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you live in. So just google whatever state you live in. I'm in Maine, for example, Maine state
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higher education agency. Once you get to that website, type in scholarships and it will pull up
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a resource listing of scholarships for residents of that state. So those are probably the four best
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resources for scholarship searching. Got it. And you know, one thing I think that scares a lot of
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students off is the fact that, you know, a lot of these scholarships, you do have to write
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short essays for, you know, usually they're like a page, maybe two pages typically. And what I tell
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those people is typically it's going to be the same like five to ten prompts over and over again
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And once you've written an essay, you can maybe make a few little changes to it and then just
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submit it to the other scholarship or essay competition that you're applying for. So after
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you've done the hard work of writing those first five to ten, you know, one to two page essays
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it's pretty much smooth sailing from there. And yeah, I've seen people have tons of success with
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those like five hundred to three thousand dollar scholarships. I mean, it's just it's really easy
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to make money. I had one student add up the amount of time that he spent applying for the scholarships
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and then dividing like dividing the amount of money he made by that time. And he was making
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around the same amount as a doctor, essentially. You know, the other thing they can do is really
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chunk down their time. You know, I recommend an hour and a half each week on searching for scholarships. How many hours do we all spend on our phones? You know, take 30 minutes, you know
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three times a week and focus on applying for a scholarship. Absolutely. It's super easy to do
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It's basically free money for people because there's just not that many people doing it
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And the one website you mentioned with the paywall, I would say that's probably even a
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better opportunity because a lot of people are like, oh, I'm not going to pay for it. Well
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that's just a barrier to entry for you. Yeah. Yeah. You pay for it. It's going to make things
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even quite a bit easier for you, probably. Right. So what about somebody who has divorced or
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separated parents? I know that can be a little bit complicated. So what is your advice to people who
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are in that situation? This is where I probably see some of the most mistakes being made on the
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FAFSA. So if your parents are divorced or separated, only one parent needs to fill out the
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FAFSA form. And this would be the parent with whom the child resided with most within the last year
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If the child was 50-50 with both parents, then it would be the parent who provided more than half of
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the child's support. So a lot of times students think or parents think because they filed a joint
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tax return in the prior year, even though they're separated and not living in the same household
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that they have to fill out the FAFSA together. But that's not the case. Basically, what I would
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recommend is not using the IRS data retrieval tool because you don't want to pull in that joint tax
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return. You want to enter them in the information manually and just pull out your income to enter
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on the FAFSA form. And then the other thing I'd like to add, if that parent is remarried
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then they do have to put their current spouse's information on the FAFSA form, which stinks, I know
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when it's a step-parent, but it's just kind of the way that it goes. But yeah, only one parent needs
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to fill out the FAFSA form. It's not the case for any student that might be applying to colleges
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that require the CSS profile. Most colleges will require a custodial and a non-custodial profile
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form from both parents, even if they're divorced or separated. So something to kind of keep in mind
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Got it. And then what about if a student is maybe not financially connected to their parents
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like they're emancipated or they're just not financially connected? I guess that would be
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like independent. That's what they'd put on their FAFSA form. So what about those people
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Well, that can be a little bit tricky. If there's a situation where they are like legally emancipated
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then they can automatically be considered independent on the FAFSA and not provide
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parent information. Otherwise, if it's like in a strange situation or they're just not living
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at home and they're fully self-supporting, the only way around not reporting parents' information
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would be to contact the financial aid office directly and talk to them about their options
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Sometimes financial aid offices can do what's called professional judgment and push those
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students through as independent. But usually in order for that to happen, there has to be like
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an extreme situation going on in the home, such as documented abuse or estrangement for
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different reasons and things like that. It's not like a shoo-in. It can be a little bit more
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challenging to kind of be considered independent when you're dependent. Got it. And then I found you because I recommend the Career Explorer test to so many people. And
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then at the end of the test, you were actually on that page. And then I was looking through
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your content and you had a lot of awesome stories and stuff on your page of people that you've helped
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get college paid for. So that's really awesome that you're doing that, helping them navigate
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just this crazy financial aid system that we have in the U.S. with college. It definitely takes a
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lot of expertise because I know that stuff changes all the time, too. I have trouble staying on top
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of it. So if people want to find you, I know you also offer a free training as well. If people want
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to find you, I'm guessing I'll probably have a link, which I'll put down in the description as
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well as the pinned comment below. And we don't have the link set up right now, but we'll set
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up a link to where it goes to the free training. Is there any other places that they could find you
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Yes. So they can go to my website, thefafsaguru.com. All of my information about the programs and
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services that I provide are there. I also offer a free initial 10 minute consult call for anybody
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that I've never worked with before. And then YouTube is a great place to have a lot of videos
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there with free information. People can find me there. Got it. Awesome. Well, thank you so much
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for coming on again, Tina. I'm sure a lot of people will probably have questions and they
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can put them down in the comments below. I know if you have time, maybe if you read the comments
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you could go down there and answer them. If not, I'll try to get to them as well. But yeah
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if you have any questions, definitely leave them down below and we'll try to get to them
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And yeah, thanks so much for coming on. I really appreciate it. Thank you so much for having me, Shane. I appreciate it
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