Rays of Light in the Cloudiness of College Costs and Financial Aid (Part 2)
By Zander DiMare | Aslan Wealth Partners
Published in Longmeadow Neighbors | October 2025
With the new school year upon us, many families find their interest piqued when it comes to applying for college and figuring out the associated costs. Unfortunately, for many, gaining clarity on true college costs and financial aid can be obscure, if not elusive.
The good news is that resources are available to help cut through the confusion. The Hechinger Report, a national nonprofit newsroom dedicated to education, has created a series of tools to provide information that empowers individuals and families to help make better-informed decisions about continuing educational costs. This is part two of this series; please refer to the September issue of Longmeadow Neighbors for part 1.
Deciphering Financial Aid Offers: The Offer Letter Decoder
Once financial aid offers have been received, they can often be filled with confusing jargon and abbreviations. The Offer Letter Decoder is designed to clarify these letters.
This tool helps families:
Distinguish aid types: It clearly identifies what portion of the aid offered is a grant or scholarship (money that one doesn’t need to pay back) versus a student loan (debt that must be repaid).
Understand loan differences: The decoder can highlight the differences between subsidized and unsubsidized loans.
Identify work-study programs: It pinpoints work-study opportunities, which involve taking a job on campus to help cover costs.
The Offer Letter Decoder allows families to upload any offer letters that have been received for analysis. Its goal is to help ensure families understand exactly what they’re responsible for financially, enabling them to accurately compare the true costs of attending different institutions. A video to learn how to use it can be found here:
https://www.instagram.com/reel/C74I8Y2xMuX/
The Importance of College Viability
Here’s a less discussed but critical factor: college viability. From 2008 to 2023, 843 post-secondary institutions closed their doors. Therefore, it's vital to consider whether the chosen college will still be operating when the student graduates.
A college education isn't just about learning; it's also about the social network and the institution's reputation. Students at colleges that close often lose out on these benefits. While "teach-out" agreements exist, allowing students to transfer to other institutions, navigating these transitions can be a significant deterrent to finishing their degrees.
Understanding the College Journey: A Game of College
A Game of College (https://tuitiontracker.org/temp/game-of-college/) is an interactive website that illustrates the path students take from high school to college. Developed through a collaboration between The Hechinger Report and CalMatters, this game helps families understand the process of gaining college admission, completing a bachelor's degree, and minimizing student debt. Prospective candidates can immerse themselves in the experience by playing the role of a student, choosing from various income levels and demographics, and then strategically navigating their way through college with the goal of becoming as debt-free as possible.
Zander DiMare
Managing Partner Financial Planner
Aslan Wealth Partners
413-309-0916
zdimare@financialguide.com
Making an Informed Investment
A college education is one of the most significant investments of time and money one will make. Understanding the true costs and financial aid landscape is paramount. These tools from The Hechinger Report are designed to make crucial information accessible, helping families make better-informed decisions.
We, at Aslan Wealth Partners, wish you the best in your post-secondary education endeavors.
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