The Money Mindset Podcast

#75 Help Paying for College as a First Generation Student

August 8th, 2022

Want to learn the tools and information you need to be strategic with your money when it comes to college planning? In this episode, we really dive into the different types of grants and which situation they best suit. We also cover how the system works and the different options that are available to you.

Meet Michelle!

Michelle Onaka is a mom of two young children, part-time university academic counselor supporting first-generation college students, and founder of Intentional Money Life. She loves to learn, strategize, support others, get into the nitty gritty, systemize, and demystify things. In her business, she helps people build financial education, apply it to themselves, and intentionally create a life that they love. She does this through posting regular educational visuals and short videos on social media, as well as through offering online financial courses.

“If you couldn't make your student loans, making sure that you're aware there's forbearance, there's deferment, and then there are multiple different repayment plans. You can get on a different payment plan where you pay less.”
-Michelle Onaka

04:39 - Michelle's role and expertise
06:06 - Pell Grant
07:02 - How many people are getting the Pell Grant?
08:53 - Pell Grant and EFC calculations
09:30 - What is the threshold of the EFC to be Pell eligible?
11:23 - What does being considered independent mean for you?
14:40 - What do you need to do to be declared independent?
15:26 - To get any of these resources you do need to fill out the FASFA?
17:22 - What to do if you think you're eligible.
19:39 - What services do you offer? What does this program do?
25:23 - What to do if you aren't Pell eligible?
26:13 - Being strategic about your course selection and what will transfer.
35:17 - A few things to know about student loans.
37:25 - How can you figure out how much your student loan is before you graduate?

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