The Burgeoning Financial Aid Gap
Parents, students, families suffered economically during the Covid-19 worldwide freak-out. Not only did they suffer from the downturn, so did colleges and universities.
Financial aid gaps that existed before the Pandemic of 2020 will be even greater now and for the foreseeable future.
Schools with small endowments, schools that offer lesser amounts of free money (scholarships, awards, and grants), schools overly dependent on foreign students who may not return, and schools heavily reliant on tuition to cover expenses, will find themselves in highly precarious financial situations.
Accordingly, the aid offered by these schools will be lower. Lower aid offers result in even higher need on the part of families and students.
The traditional options to cover the gap will be the same as they were before the pandemic. And those options typically will result in an even higher student debt load.
Let’s face facts – the traditional, conventional ways to pay for an education don’t serve the needs of the family and they haven’t for quite some time. Traditional and conventional just doesn’t work any longer.
The financial coaches at Vivensure deal in the non-traditional and unconventional. A college planning campaign designed and implemented with a Vivensure coach:
· helps the family find the best school at the lowest possible out-of-pocket expense;
· shows the family where to shelter their college savings so that it has no impact on financial aid;
· establishes the process for repaying student debt in the shortest possible time; and,
· much, much more…
We await your call…