The $40,000 Question Every Parent Asks (And Usually Gets Wrong)
🎧 LISTEN TO THE EPISODE | 25 minutes | Air Date: Oct. 30, 2025
Prefer to read? Scroll down for key takeaways and resources.
One of the most common—and costly—questions I get from parents is:
"If we apply for financial aid, will it hurt my kid's chances of getting in?"
This fear leads families to make devastating mistakes—like skipping the FAFSA or checking "no" on financial aid even when they desperately need help. Just last week, a mom told me she almost made a decision that would have cost her family nearly $40,000 in lost aid.
If you've been losing sleep over this question, this episode will give you the clarity and peace of mind you've been looking for.
✅ Need-blind vs. need-aware admissions: what these terms actually mean (and why it's more nuanced than you think)
✅ Which schools consider financial need when making admission decisions (and which don't)
✅ Whether checking "yes" to financial aid on the Common App matters, and when it might actually help
✅ The 6 myths costing families thousands, including the one that cost a family $60K in grants they desperately needed
✅ Your action plan based on whether your student is a strong candidate, borderline applicant, or in between
✅ This week's Scholarship School Spotlight: University of Richmond — a need-blind school w/full-ride scholarships
[00:00] Intro: The $40,000 checkbox mistake
[02:30] Need-blind vs. need-aware: What these terms actually mean
[06:45] Which schools are need-blind and which are need-aware
[09:15] What happens behind the scenes in admissions decisions
[13:00] Does checking "yes" on the Common App matter?
[16:30] 6 myths that are costing families thousands
[19:45] Your action plan: What should YOUR family do?
[22:00] Scholarship School Spotlight: University of Richmond
[22:24] Recap and next steps
For 95% of families, the right move is to apply for financial aid at EVERY school.
The risk of NOT applying far outweighs the tiny risk of it affecting admission for borderline candidates.
Here's the reality: Getting accepted to a school you can't afford isn't a win. Don't let fear cost you tens of thousands of dollars in aid.
Get the exact questions to ask each school, a comprehensive list of need-blind vs. need-aware institutions, and a simple decision framework for your family.
Inside you'll get:
A highly selective private liberal arts university in Virginia that offers some of the most generous merit scholarships in the country—including full rides.
Richmond has automatic merit consideration built right into the admissions process. No separate scholarship applications for most awards—just submit your admission application on time, and you're in the running for serious money.
Full tuition + room + board + fees
This is one of the most generous merit scholarships you'll find at a top-tier liberal arts college. We're talking about a scholarship worth over $80,000 per year.
Learn more about Richmond's scholarships → https://financialaid.richmond.edu/types-of-aid/merit-based/scholarships.html
Get the Financial Aid Decision Guide with the exact questions to ask schools and your personalized action plan.
Download the free guide → https://getcollegefunded.com/finaidquestions
Don't miss Episode 4, where I break down financial aid award letters line by line and expose the red flags that mean you're getting ripped off.
Subscribe on Apple Podcasts → | Subscribe on Spotify →
Know another parent who's stressed about checking "yes" to financial aid? Text them this link or post it in your parent Facebook group. It could save them thousands.
Starting soon, I'm answering YOUR questions on air!
Have a question about:
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I read every single email and select questions for upcoming Q&A segments. Your question could help hundreds of other families facing the same situation!
Get College Funded is your weekly masterclass on making college affordable without destroying your retirement or going broke. Each episode, college admissions counselor Bethany Goldszer breaks down the strategies that have helped families access over $25 million in financial aid and scholarships. New episodes every Monday— subscribe so you never miss one!
Financial aid award letters are designed to be confusing. Some schools make their offers look more generous than they actually are. Others bury the bad news in fine print.
In Episode 4, I'm breaking down award letters line by line and showing you:
Don't accept any offers until you hear this episode.
Bethany Goldszer is a college admissions counselor and financial aid expert who has helped families access over $25 million in scholarships and financial aid. Frustrated by watching bright students give up on dream schools due to cost—and families go into crushing debt—Bethany made it her mission to demystify the financial aid system and help middle-class families make college genuinely affordable. Her expert insights have been featured in CNN, Wall Street Journal, ABC Tonight, HuffPost, USA Today, and Inside Higher Ed.
As an active member of NACAC (National Association for College Admission Counseling) and NYSACAC (New York State Association for College Admission Counseling), Bethany upholds the highest ethical standards in college counseling. Through her Get College Funded podcast and course, she's teaching families the strategies that have saved them tens of thousands of dollars.
Bethany's philosophy: College shouldn't cost your retirement or your peace of mind.
The information in this podcast is for educational purposes only and should not be considered financial or legal advice. Every family's financial situation is unique, and financial aid policies vary by institution. Always consult with a qualified financial professional before making financial decisions. The results discussed in this podcast are not guaranteed and will vary based on individual circumstances.
Know a parent who's losing sleep over the financial aid question?
Share this episode with them—it could save their family $30,000-$50,000 in lost aid.
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financial aid, college admissions, FAFSA, need-blind admissions, need-aware colleges, Common Application, college affordability, merit scholarships, University of Richmond, college costs, higher education, college planning, FAFSA tips, CSS Profile, middle class financial aid, college funding, how to pay for college, financial aid myths, college negotiation, scholarship strategies
What was your biggest takeaway from this episode? Are you going to apply for financial aid at all your schools? Drop a comment below or email me at getcollegefunded@gmail.com!
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