Episode 265: Navigating Trump's Proposed College Funding Changes With Ann Garcia, CFP®

Women's Money Wisdom

Are big changes coming to the way we pay for college?

In this episode, host Melissa Joy, CFP®, sits down with Ann Garcia, CFP®, and author of How to Pay for College, to discuss the shifting landscape of higher education. With potential policy changes on the horizon, including modifications to student loans, grants, and university funding, families need to be more strategic than ever in planning for college expenses.

Melissa and Ann explore the role of the Department of Education, the impact of proposed Parent PLUS loan eliminations, taxation of scholarships and endowments, and how federal research funding plays a pivotal role in the U.S. economy. Ann provides valuable insights on smart financial planning strategies for families navigating the cost of higher education and shares actionable steps for making informed decisions.

Key Takeaways:

✅ Potential Changes in Higher Education – How proposed federal policies may impact college affordability and financial aid.
✅ Understanding the Role of the Department of Education – What it funds, why it matters, and what could happen if it’s restructured or eliminated.
✅ The Risks of Taxing Scholarships & Endowments – Who could be most affected and why financial aid could become even more limited.
✅ Parent PLUS Loans on the Chopping Block? – The pros and cons of eliminating these loans and what it could mean for families.
✅ Why Research Universities Matter – How federally funded research drives economic growth and innovation, from medical breakthroughs to technological advancements.
✅ Financial Planning for College – Smart strategies for families, including using net price calculators, alternative education pathways, and financial aid negotiations.
✅ The Importance of Open Conversations About Money – How to discuss finances with your kids and prepare them for responsible decision-making.

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Chapters

1. Introduction to Higher Education Changes (00:00:00)

2. Department of Education's Role in Higher Ed (00:02:30)

3. College Data and Consumer Resources (00:06:30)

4. PLUS Loans and Scholarship Tax Proposals (00:10:15)

5. Research Universities as Economic Engines (00:18:25)

6. Making Smart College Decisions (00:25:15)