College Planning Strategies For Families

Oct 17, 2025

Jack Wang, a college planning and financial aid expert with 15 years of experience, shares crucial insights on the impending changes to college funding stemming from the new 'big, beautiful bill.' He reveals the impact of capping Parent PLUS loans, pushing families toward private loans. Jack emphasizes that financial aid isn't exclusive to low-income families, explaining how colleges strategically award aid to meet their enrollment goals. He offers invaluable tips on how to choose schools that align with financial and academic needs, urging families to begin planning early.

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ANECDOTE

How Jack Wang Entered College Planning

Jack Wang began college planning after his divorce forced him to figure out how to pay for his sons' education.
Personal need led him to learn financial aid deeply and build a career helping families.

ADVICE

Plan Early For New Loan Caps

Start planning college finances now because new loan limits take effect in 2026 and will change borrowing options.
Prepare for Parent PLUS and graduate loan caps by improving credit, income documentation, and exploring private loan alternatives.

INSIGHT

Colleges Use Enrollment Management

Colleges practice 'enrollment management' and give aid to students who fit their strategic priorities, not just the highest achievers.
Being accepted is not the same as being wanted; wanted students get the biggest scholarships.

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As a college planning expert, Jack Wang breaks down major changes coming to college financial aid under the new "big, beautiful bill." Jack explains how new borrowing limits for parents and graduate students could upend traditional funding strategies and push more families toward the private loan market. He shares insights on how colleges decide who gets aid—revealing the "moneyball" game of enrollment management—and why being wanted by a school matters more than just being accepted. Jack offers practical advice on how families can spend less on college by targeting schools that align with their financial and academic profiles.

We discuss...

Jack Wang explains how his personal experience navigating college costs during a divorce inspired him to become an expert in college financial aid planning.
He discusses the new "big, beautiful bill," which introduces sweeping changes to college funding and borrowing rules beginning in 2026.
Parent PLUS loans will soon be limited to $20,000 per year and $65,000 total, ending the previous system of virtually unlimited borrowing.
Many families focus on helping their child get accepted into college without understanding how they will actually afford it afterward.
Jack encourages families to prioritize schools that offer the most generous financial aid rather than chasing prestige or name recognition.
He clarifies that financial aid isn't just for low-income families—colleges often give significant aid to higher-income households if the student fits their goals.
Colleges operate like businesses using "enrollment management," a strategy to attract certain types of students who align with institutional priorities.
Jack explains that being wanted by a college often leads to larger scholarships than simply being accepted.
Signs a school may want your student include launching new majors, building new facilities, or heavily recruiting from your region.
Families should be cautious about applying to overcrowded majors like business, which typically receive less financial aid because demand is already high.
Understanding each college's scholarship policies and true costs upfront helps families make smarter, more affordable decisions.
Jack stresses that financial planning should begin as early as freshman year of high school, since aid decisions rely on sophomore-year tax data.
Visiting campuses and showing consistent interest can improve a student's appeal and increase their chances of receiving aid.
He concludes that families will either spend the time planning early or spend far more money later if they fail to prepare.

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Phil Weiss | Apprise Wealth Management
Douglas Heagren | Mergent College Advisors

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For more information, visit the show notes at https://moneytreepodcast.com/college-planning-strategies-756