Top College Debt Free

Handout- How To Graduate From College Debt-Free
WELCOME
Families and Counselors!
Graduating Debt-FREE
From A TOP College
Is Possible For Anyone
From A TOP College
1
Tom Bottorf
Your College Success Coach
Co-Founder of GetCollegeFunding
& CollegeSuccessFormula
Dana Point Harbor, CA | Phoenix, AZ
E-mail: support@CollegeSuccessFormula.com
[NEW] Texting Hotline: 949-234-6495
Housekeeping
 Today’s Handout: http://csf-handout.link/top-college-debt-free
(If you’ve not printed it out already, please do so now…)
 You’ll receive the most benefit from this training by:
1. Following along with the handout
2. Filling in the blanks along the way
3. Reviewing throughout your College Planning journey
 Dedicated support email: support@CollegeSuccessFormula.com
 Dedicated line for texting questions: 949-234-6495
So Who Are We?

Tom & Lawrene Bottorf founded GetCollegeFunding.org in 2005
 Unhappy with the “College Funding” industry
 We committed to building a world-class College Planning Organization
Admissions, Financial Aid, Essays & Apps, Test Prep, Paying for College, etc
 Advisory Team of Admissions AND Financial Aid experts
 Reached 1000’s of families… Private Meetings, Seminars, and Webinars
 $3000 to $5000 Fees for private College Planning services
2
So Who Are We?

Tom & Lawrene Bottorf founded GetCollegeFunding.org in 2005
 Unhappy with the “College Funding” industry
 We committed to building a world-class College Planning Organization
Admissions, Financial Aid, Essays & Apps, Test Prep, Paying for College, etc
 Advisory Team of Admissions AND Financial Aid experts
 Reached 1000’s of families… Private Meetings, Seminars, and Webinars
 $3000 to $5000 Fees for private College Planning services
September 2015 we launched CollegeSuccessFormula.com
 The LEADING College Planning membership website for Moms and Dads
 Enables us to help MORE families than ever
 Goal: Make College Planning affordable to everyone… (with a huge ROI)
(<1% of the average out-of-pocket cost of college for an undergraduate degree)
 More on that later…
Dave Ramsey Anyone?

 Began working closely with Dave Ramsey’s organization in 2015
 CollegeSuccessFormula was the 1st company authorized to
integrate Dave’s online Financial Literacy for Teens course
called “Foundations in Personal Finance”
 More on how you can get access to this later…
Questions?
 Enter in the question box below the slides.
(Exit full-screen mode)
 Our staff will be monitoring your questions… and they’ll
answer as many as possible throughout the live broadcast
this morning.
 We’ll have Q&A at the end for those who can stay.
 If we don’t get to your question today… sorry! We’ll email
you an answer by Thursday night.
3
Who Is This Training For Tonight?

 Parents of high school students planning on attending college
(4-year or community)
 High school students (all grade-levels)
 Counselors (high school and private/independent)
This webinar is for any family who wants to learn our tried-and-proven
process of getting your kids in to a great college AND graduating…
Debt-FREE
What You’ll Get Out of Tonight’s Webinar

Here are just a few of the things we’ll cover this morning:
 The 7 STEPS to Graduate from a Top College Debt-FREE

 Who gets the BIG Scholarships… and HOW?
 Who gets the BIG Grants… and HOW?
 How picking the right colleges can get you the most free money
 The MOST important financial aid term you’ve GOT to understand
 Importance of the “Financial Aid Quadrant”
 Private colleges might be more affordable than public universities
 What to do AFTER this webinar in order to plan for College Success
Here’s What We’ve Learned Over The Past 12 Years
Most parents, teachers, and even counselors

have it all wrong!
4
Most parents, teachers, and even counselors

have it all wrong!
They spend way too much time focusing on
getting the kids IN to college.
Stats show that the majority of students are choosing

the “wrong” college.
Stats show that the majority of students are choosing

the “wrong” college.
Only half of them are graduating from the college
they entered as freshmen.
(Surprised?)
5

The focus needs to be on choosing the right college,
what they will do once they get there…

The focus needs to be on choosing the right college,
what they will do once they get there…
and MOST importantly…
what they’ll do when they get OUT.
Before we do our deep-dive…

Let’s define a couple of terms:
From A TOP College
6
“TOP College”
does NOT necessarily mean
Harvard, Princeton,
Stanford, USC, UCLA, etc.
“DEBT-FREE”
does NOT mean
FREE college/NO money
out-of-pocket
And finally, our MISSION?

Our mission:
It’s not just about getting them

INTO college...
It’s about gettin’ ‘em OUT …
7
Efficiently
(4 years)
Cost Effectively
(Debt-FREE)
8
and...
EMPLOYABLE
OK… Let’s Get Started!
From A TOP College
9
STEP #1.
(This one’s kind of embarrassing...)
STEP #1.
Assess How Much You Can Responsibly
Afford To Pay For College
Imagine for the moment...

that borrowing was NOT an option
and that you HAD to pay for college

out-of-pocket with…
cash
10
What You Would Do?

Start with the
TOTAL Cost-of-Attendance (COA)
Then subtract ALL available resources
 Earmarked college savings-to-date
 CONSERVATIVE estimate of future savings
 Help from Grandma/Grandpa, and...
ACCURATE forecast of any Financial Aid

(Grants & Scholarships) you might receive
So HOW do you ACCURATELY

forecast Financial Aid?
(Grants & Scholarships)
STEP #2.
Find Out What Grants Are Available
11
The BIGGEST source of confusion regarding

Financial Aid is the highly misunderstood term:
EFC
EFC: What It IS… and What It Is NOT

EFC IS:
 Expected Family Contribution
 The computation by which colleges & the gov’t
assess a student’s legitimate financial Need
 Inherently CONFUSING (misleading?) by its very name
EFC: What It IS… and What It Is NOT

EFC is NOT:
 A guarantee of what a family will pay for college ...
even though the name clearly implies otherwise
 Explained well at “Financial Aid Night”
12
So HOW Is EFC Used?
EFC Determines “Need”
Need-based Financial Aid is based

on a simple formula:
The Needs-Analysis Formula
COA (Cost of Attendance)

-EFC (Expected Family Contribution)
Financial Need
College Costs (COA)
 Average 4-Yr Public College: ~$23K

 CSU System (23 schools) $23K - $28K
 UC System (9 schools) $32K - $38K
 Private Schools $35K - $72K
 Highly-Selective Privates $68K - $80K
13
When COA > EFC, There Is Need

COA (Cost of Attendance) $65K

-EFC (Expected Family Contribution) $25K
Financial Need $40K
When COA < EFC, There Is No Need

COA (Cost of Attendance) $35K

-EFC (Expected Family Contribution) $70K
Financial Need $0
What IS “Financial Aid”?

 First of all, there are two completely DIFFERENT types of
Financial Aid
Need-based aid
Merit-based aid
 Many parents erroneously think of Financial Aid as being
limited to “free money”.
14
Need-Based Financial Aid

There are actually 3 types of Need-based Financial Aid
Grants (“FREE money”... also known as “Gift Aid”)
You DON’T pay it back! (the only TRUE need-based aid)
Work-Study (a job... they work for it)
Typically $1K to $3K
Loans (pay it back... with interest)
LOANS Are “Financial Aid”?
Are they EVER!

(that is, at least according to the
gov’t and the colleges…)
Colleges & the gov’t have successfully convinced

families that borrowing money for college is
necessary… and that loans are somehow “Financial Aid”.
15
Q. When should YOU learn

your Expected Family Contribution?
A. Before ANY Financial Aid Applications are submitted…

and ideally BEFORE the College List begins!
The best time is… N OW!
[This is one of THE most emphasized components

in our 12-STEP program.]
Did You Know?
The SOLE purpose of a

Financial Aid Form is to calculate your
EFC
16
STEP #3.
Understanding The Forms
Financial Aid Forms
Financial Aid Forms
2 Main Types of
Financial Aid Forms:
FAFSA &
CSS PROFILE
17
The FAFSA Form

Free
Application for
Federal
Student
Aid
The FAFSA Form

 Gov’t form, Federal Dept of Education
 Based on your EFC, you may qualify for:
Federal Aid
State Aid
Private College Aid
 Dept of Education provides the same EFC to all of
the colleges to which your student has applied...
and to you as well
The CSS PROFILE Form

 Like the FAFSA, it’s sole purpose is to calculate
your EFC
 Administered/controlled by the College Board
 This Financial Aid form is used by only about
250 colleges, most of them being private
 Required to qualify for ANY need-based Grants (free
money) from these colleges
18
The CSS PROFILE Form

 Often computes a very different EFC than from the FAFSA
 College Board provides your EFC to the colleges being
applied to... but NOT to you!
How Is The FAFSA EFC Calculated?
Parent Contribution Student Contribution

Due to Income Due to Income
(____) max) (50%)

Due to Assets Due to Assets
(5.6%) (20%)

(47% max) (50%)

(____) (20%)
19

(47% max) (____)

(5.6%) (20%)

(47% max) (50%)

(5.6%) (____)

(47% max) (50%)

(5.6%) (20%)
20
What’s YOUR EFC? (FAFSA)

TOTAL PARENT INCOME ~EXP FAMILY CONTRIBUTION
$50K $3,081
$100K $17,168
$150K $31,933
$250K $62,244
ASSUMPTIONS
4 in Household 1 Student in College
Student Income < $6000 Parent Assets < $50K
No Student Assets Older Parent is 50

$50K $3,081
$100K $17,168
$150K $31,933
$250K $62,244
ASSUMPTIONS

$50K $3,081
$100K $17,168
$150K $31,933
$250K $62,244
ASSUMPTIONS
21

$50K $3,081
$100K $17,168
$150K $31,933
$250K $62,244
ASSUMPTIONS
6-Figure Income Does NOT Mean…

NO FREE Money
Even if your income is well beyond $100K, you

may qualify for $10K-$30K of FREE money,
maybe more... from the “right” colleges!
Remember this nugget when you learn your EFC!
If Your EFC < $25K-ish

... then your child can likely attend any
number of PRIVATE colleges for less money
out-of-pocket than many PUBLIC colleges.
22
BUT What If Your EFC is just WAY

too High to Qualify for ANY of this
FREE money?
STEP #4.
Find Out What Scholarships Are Available
For Your Child
The Other Source of FREE Money:

College Scholarships
About half of all the free money is in College Scholarships
(aka, Merit-based Financial Aid)
Can be based on any number of parameters
Academics, Athletics, Artistic, Drama, Music
Offered to entice students to a given college
Much more prevalent at private colleges
23
Will YOUR Student Receive Scholarships?
In general... the top 25% of the applicant pool

receives the lion’s share of Scholarships directly from
the colleges.
A student can fall into the top 25% at one college and
the lower 25% at another
The College’s Admissions Office

Handles All (College) Scholarships
Word of Caution
There’s a LOT of Merit Scholarships available,
primarily from the private colleges
Sadly, many families miss out entirely on this type
of free money, because they apply to the “wrong”
schools
Beware of BNP (Brand-Name Paralysis)!
24
STEP #5.
Constructing A Re alistic College List
The Most Important College Planning Task

Constructing a realistic College List is THE single-most
important task and biggest challenge of all.
Herein lies the most room for potential Debt-Free College
failure down the road… when your child begins receiving
College Admission (and Financial Aid) offers.
This Is The Make-or-Break Step

 Unless money is no object and you can “write the check”
for any college your child chooses to attend…
This is THE most critical step in your College Planning.
 Once you’ve assessed your student’s Need-based AND Merit-
based Financial Aid eligibility, you must now find __ to __
colleges whose Financial Aid policies are in alignment with
your out-of-pocket ability to pay from STEP 1 (what you can
responsibly afford).
25
The College List

So what do we mean by “Realistic”?
Excellent-fit
(Academic/Social/Spiritual/Political/etc.)
Aligns with your out-of-pocket ability-to-pay
(not your ability-to-borrow)
Doesn’t put at risk mom and dad’s retirement
Doesn’t burden your child or you with loans
Warning For High Achievers

If you have a high achiever AND are counting on
scholarships, don’t make the common mistake that
every college offers scholarships.
The more “selective” a college, the less likely that
significant Scholarship money will be offered.
Ironically, the highest achievers tend to apply ____ to
those (very few) colleges that offer NO merit-based
scholarships.
A Few Statistics Worth Noting

 2/3 of students are requiring > 4 years to earn their
undergraduate degrees.
 About half the students have not graduated after 6 years.
(Average time to achieve degree ~ 6.2 years)
 Nearly 1/3 of freshmen don’t return to the same campus
as a sophomore.
 1/2 of students are graduating from a different college
than the one they entered as a freshmen.
26
So Why The Dismal Stats?

Granted... the lengthy graduation time is partially due to the
difficulty in getting classes, particularly in the public colleges, but...
The 2 biggest factors continue to be (by far):

 Financial Pressure
(Not understanding Financial Aid policies and true costs of college)
 Poor Fit
(Selecting the wrong colleges)
 Academic disqualification
 Cultural/Social/Political
The Conclusion?
Families are simply picking the “wrong” colleges during
the College List-B uilding process.
So How Do You Prevent YOUR Child

From Becoming Another STATISTIC?
27
STEP #6.
Get The Right Help That Best
Suits Your Family
The Biggest Obstacle

 The biggest obstacle to successful College Planning is “not
knowing what you don’t know”... until it’s too late.
 As you’ve seen, there are lots of “moving parts” to planning
for college, even without the debt-free component.
 ALL the steps converge to the biggest task of all:
Building the College List of 8 to 10 schools. Getting
this one wrong blows everything.
What Are Your Options?

Option 1. Give It Your Best Shot (DIY)
 Benefits
 Lowest up-front costs
 Can be effective when the student and (at least) one parent are highly
committed and have the necessary time to study and learn the Admissions,
Financial Aid, and College Selection processes
 Risks
 The “you-don’t-know-what-you-don’t-know” syndrome
 Potentially becoming another statistic
 Possible long-term financial consequences
28

Option 2. Hire a Private College Counselor
 Benefits
 A good counselor has a high probability of producing good results
 Reduces anxiety for parents and student
 Risks
 Expensive ($3000 to $5000+)
 Not all Private Counselors achieve the same results
 Must conform to Counselor’s schedule/availability

Option 3. Join Our Membership
 Benefits
 Low up-front costs
 Proven to be highly effective
 As with a private counselor, reduces anxiety
 Self-paced
 Available 24/7 since it’s online
 Always being updated
 “Human touch” provided through webinars and email/texting support
 Risks
 Only effective if you use it
STEP #7.
Evaluate The Awards & Make The Final
College Selection
29
Step 7 is the direct RESULT of following

the first 6 steps… (or not).
2 Possible Outcomes
 When the process has been followed:
 Multiple admission offers (5-8+) are often received.
 All of the colleges offering admission are excellent-fit schools.
 All of the colleges are affordable, requiring no borrowing.
 Student has the luxury of making the BEST choice, based on the “3 F’s”:
Fit, Faculty, and Financial Aid
 Results in HAPPY families
 When the process has NOT been followed:
 Multiple admissions offers may or may not be received.
 College “fit” is uncertain.
 High probability that debt will be incurred.
 Results in disappointed families
So… In Conclusion
 I want YOU to be a happy family in March of your child’s
senior year when all those Admissions and Financial Aid awards
are sent out.
Follow these 7 Steps… and you will be!
30
Before we get into our Q&A Session…

What are your NEXT STEPS?
I hope you’ll join
What IS CollegeSuccessFormula?
It is THE 1st and LEADING College Counseling

“How-To” Membership Website for moms and dads
with college-bound kids who want to do this
whole “College-Planning thing” right.
31
What IS CollegeSuccessFormula?
 Through 12 years of Private College Counseling, we’ve developed
a highly effective and repeatable 12-Step Formula parents can
follow that results in College Success for their kids.
 So how do we define “College Success”?
1. Admission to an Excellent-Fit College
2. Graduate with Marketable skills
3. Accrue NO Debt in the process
 Launched CollegeSuccessFormula nationally September 2015
 We’ve recently hit 22,000 members!
SO…
What are the
12 STEPS
in the Formula?
The 12 Steps in the Formula

1. Initial Assessm ent
2. Join Our Comm unity
3. Learn Your EF C
4. Your Teen & Mo ney
5. Careers & M ajors
6. Getting O rganized
7. T est Preparation
8. College Selectio n
9. Qualifying for Sc holarships
10. Pay ing for College
11. Applyin g to College
12. The Fin al College Choice
32
Included With Every Membership…

 Self-paced Video Courses on essential College Planning topics
 Extensive College Planning “Toolbox”
(nearly 100 tools/resources)
 Members-Only Broadcasts and Interviews with college experts
 Private Facebook Group Community for collaboration
 A brand new Video Course that will guide families through an
easier-than-ever, self-paced, Step-by-Step program resulting in…
COLLEGE SUCCESS
Newest BONUS Just Added:

#4. Foundations in Personal Finance
by Dave Ramsey
 Financial Literacy for Teens
 12-Chapter Course (online)
 Video-based curriculum
 Used in 1/3 of the high schools in America
 Valued at $149.99
One of our Core Philosophies
We reward those who take

ACTION
33
Virtual Counselor
 THE most sophisticated College List-Building
software on the planet
 Developed by some brilliant minds from
Princeton University
 Normal price: $597
Benefits of Virtual Counselor to YOU

 ASSESSES your child’s Likelihood of Admission
into their colleges of choice
 Helps FIND colleges that are highly likely to admit
your child
 Calculates eligible Financial Aid for the student
AND provides merit-based scholarship data…
on a college-by-college basis
For some perspective…

[Note: $497 is WAY less than
1% of the average out-of-pocket
total cost of college for an
undergraduate degree]
34
VALUE of Bundle For 1st 25 New Member Sign-Ups
CollegeSuccessFormula Membership (w/Lifetime Upgrade)
 $470/year (Annual PREMIUM-Pass)

 Average family needs for 3 years $1,410
Bonuses: $533
Virtual Counselor (1st 50) $597
Private Consultation (1st 25) $297
Total Value: $2,837
All this for a single-payment of $497
Payment Plan Now Available!
We now offer a 6-month Payment Plan if you prefer:

 $97 down (today) gets you started
 5 more monthly payments of $97
 Access FULL membership benefits immediately
No-risk, 30-Day
Money-back GUARANTEE
35
My PERSONAL Guarantee
If you’re not happy with your
PREMIUM-Pass membership…
 Just let me know within the next 30 days
 You’ll receive a FULL refund
THANKS So Much for

Attending This Training!
Tom Bottorf
Your College Success Coach
E-mail: support@CollegeSuccessFormula.com
Texting: 949-234-6495
36

Top College Debt Free

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Handout- How To Graduate From College Debt-Free

So Who Are We?

So Who Are We?

 More on that later…

Dave Ramsey Anyone?

Who Is This Training For Tonight?

What You’ll Get Out of Tonight’s Webinar

 The 7 STEPS to Graduate from a Top College Debt-FREE

Here’s What We’ve Learned Over The Past 12 Years

Most parents, teachers, and even counselors

Here’s What We’ve Learned Over The Past 12 Years

Most parents, teachers, and even counselors

Here’s What We’ve Learned Over The Past 12 Years

Stats show that the majority of students are choosing

Here’s What We’ve Learned Over The Past 12 Years

Stats show that the majority of students are choosing

Here’s What We’ve Learned Over The Past 12 Years

Here’s What We’ve Learned Over The Past 12 Years

Before we do our deep-dive…

And finally, our MISSION?

It’s not just about getting them

It’s about gettin’ ‘em OUT …

OK… Let’s Get Started!

Imagine for the moment...

and that you HAD to pay for college

What You Would Do?

ACCURATE forecast of any Financial Aid

So HOW do you ACCURATELY

The BIGGEST source of confusion regarding

EFC: What It IS… and What It Is NOT

EFC: What It IS… and What It Is NOT

So HOW Is EFC Used?

EFC Determines “Need”

Need-based Financial Aid is based

COA (Cost of Attendance)

College Costs (COA)

 Average 4-Yr Public College: ~$23K

When COA > EFC, There Is Need

Need-based Financial Aid is based

COA (Cost of Attendance) $65K

When COA < EFC, There Is No Need

Need-based Financial Aid is based

COA (Cost of Attendance) $35K

What IS “Financial Aid”?

Need-Based Financial Aid

LOANS Are “Financial Aid”?

Are they EVER!

Colleges & the gov’t have successfully convinced

Q. When should YOU learn

A. Before ANY Financial Aid Applications are submitted…

The best time is… N OW!

[This is one of THE most emphasized components

Did You Know?

The SOLE purpose of a

Financial Aid Forms

Financial Aid Forms

The FAFSA Form

The FAFSA Form

The CSS PROFILE Form

The CSS PROFILE Form

How Is The FAFSA EFC Calculated?

Parent Contribution Student Contribution

Parent Contribution Student Contribution