Summary
In this conversation, Mike Hunsberger and Amy discuss college finances specifically for military families with expert Kate Horrell. They explore the intricacies of the GI Bill, the importance of financial fit in college planning, and the role of school certifying officials. The discussion also covers the Yellow Ribbon Program, maximizing financial aid, and the impact of student loans. Through case studies, they illustrate how strategic use of benefits can lead to significant savings, emphasizing the importance of engaging students in the financial planning process.
Chapters
00:00 Introduction to College Finances for Military Families
04:53 Understanding Financial Fit in College Planning
08:05 Navigating the GI Bill Process
10:41 The Role of School Certifying Officials
13:48 Exploring the Yellow Ribbon Program
25:59 Maximizing Financial Aid and Scholarships
31:03 Strategic Loan Management for College Funding
33:28 Understanding the Long-Term Impact of Student Loans
36:04 Evaluating Loan Affordability and Financial Planning
37:56 Leveraging the GI Bill for In-State Tuition Benefits
45:13 Case Study: Optimizing GI Bill Benefits for Twins
51:38 Engaging Students in Financial Planning for College
Takeaways
Understanding the GI Bill is crucial for military families.
Financial fit is essential in the college planning process.
The role of school certifying officials is often underutilized.
Yellow Ribbon Program can significantly reduce tuition costs.
Maximizing scholarships can alleviate financial burdens.
Student loans should be approached with caution and understanding.
Strategic use of GI Bill benefits can save families thousands.
In-state tuition benefits can be a game changer for military families.
Engaging students in the financial planning process is beneficial.
Planning ahead is key to successful college financing.
Kate's Book:
https://www.amazon.com/College-Finances-Military-Families-Confidently/dp/B0F9NDL54P
Kate's Website:
https://www.katehorrell.com/
Operation Retirement Readiness: www.operationretirementreadiness.com
Schedule a consultation with Mike: https://nextmissionfinancialplanning.com/contact/
Schedule a consultation with Amy: https://www.instarfp.com/contact
Disclaimer: This podcast represents the views of the hosts and any guests. It is for informational purposes only and should not be considered tax, financial, or legal advice. All information is regarded to be from reliable sources. The hosts are not responsible for any losses, damages, or liabilities that may arise from the use of this podcast. This podcast is not intended to replace professional, individualized advice.
