Category: Financial Aid Eligibility

  • How to Select a Financial Advisor

    How to Select a Financial Advisor

    Did you know that just about any advisor can call themselves a financial planner even though they derive all of their income from sales commissions?

    It’s frustrating when I hear stories about “financial planners” who take advantage of families seeking reasonable advice and guidance. With so much industry jargon out there, it can be tough for families to determine which financial planner is right for them—and which firms are just trying to sell them a non-ideal product to make a commission.

    When looking for a financial advisor and planner, here are a few steps I recommend to determine whether or not they’re the right fit and whether they’ll have your best interests at heart.

    Empowerment Over Fear

    Are you hesitating because you’ve heard scary stories about financial planners? I’ve heard them too. I recently had a client share a story about a visit to a different advisor who used high-pressure sales tactics of fear and stress. The client literally left the office and cried all the way home.

    Your advisor should help you feel empowered — not afraid.

    Do They Consider Your Needs?

    Maybe this sounds like you: You have hit a point in your life when things are coming together. You are seeing success in your career. Your family is growing. You have a 401k for your retirement and 529 plans for your children. All is good. Why would you need a financial advisor when everything seems fine?

    Or maybe you’ve lost a parent. Many of us have experienced this or are about to, and according to the latest research from Cerulli Associates, an epic $84.4 trillion (and by some estimates up to $124 trillion) will be passed down from baby boomers to Generation X and millennials through 2045. What happens to their money after they are gone? Are you afraid to make a misstep?

    Perhaps you worry about retirement. Yes, you have a 401k, but is it enough? Could you be doing more? And then there is paying for college — likely the largest purchase you make besides your home. How will you get that done? What’s the best way to set your children up for long-term success?

    Your advisor needs to not only consider your current financial status and investments, but also look ahead to your future goals, needs, and dreams. 

    How to Pick a Financial Advisor Who Puts Your Interests First

    You will want to answer these questions to start:

    • What type of advisor are they? What is their fee structure, and can it influence the recommendations they give to you?
    • Do they have credentials valued by the industry, holding them to the highest standards of ethics and competency?
    • Is their expert knowledge a fit for your unique needs (like college funding or tax planning)?

    The Three Types of Advisors

    The types of financial advisors break down into three categories:

    1. The Broker or “Registered Representative”: Employed by broker-dealer companies. They earn fees based on portfolio value but can also sell products like annuities and mutual funds to collect commissions. They are, primarily, salespeople.
    2. The “Fee-Based” Advisor: Often associated with large brokerage firms. They collect an annual fee or a percentage of assets, but they also can collect commissions on products they sell to you. They often serve two masters: you and their brokerage firm.
    3. The Fiduciary (Fee-Only): Merriam-Webster defines fiduciary as “involving a confidence or trust.” These advisors must make recommendations in your best interest by law. They cannot earn commissions. They are often Registered Investment Advisors (RIAs) focused on education and long-term success. (This is the type of advisor you’ll find at Capstone Wealth Partners.)

    Check Their Credentials

    In an industry full of “alphabet soup” (CFP®, CIMA, CPWA, CFA, ChFC, etc.), the CERTIFIED FINANCIAL PLANNER™ (CFP®) remains the gold standard for ethics and competency. But you should never take an advisor’s word for it. Verify them directly using the CFP Board’s Verification Tool.

    Find a Niche Expert

    Brokers are experts in products. Niche advisors are experts in people like you. While some focus on specific employee groups or doctors, at Capstone, our primary focus is on families with college-bound children.

    In today’s college planning landscape, you need an advisor who understands the nuances of the FAFSA Simplification Act and how it impacts your specific financial aid eligibility and tax strategy. A “generalist” might miss the thousands of dollars in savings that a college-planning specialist can uncover.

    Questions to Ask in Your First Meeting

    Here’s a quick rundown of the questions you should ask when you first meet a potential advisor and planner.

    • What is your planning process and how many meetings will we have?
    • Do you use technology (like client portals) to track progress?
    • Will you help me implement the plan, or just hand me a folder?
    • How do you stay updated on changing college-funding laws?

    As niche fiduciaries, Capstone takes great pride in our responsibility to deliver the best, individually tailored plans to families looking to save for college and beyond. If you’d like to find out if we’re the right fit for your family, please schedule some free time to meet with us and ask the questions above.

    Updated December 2025

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  • Will Financial Aid Cover Summer Classes? How To Know If Your Student Can Use Aid In Summer

    Will Financial Aid Cover Summer Classes? How To Know If Your Student Can Use Aid In Summer

    One of the most common questions we hear from parents and students at The College Planning Center is:
     “Will financial aid cover summer classes?”

    The honest answer is:
     👉 Yes, financial aid can cover summer classes—but not always.

    Whether financial aid for summer classes is available depends on:

    • How much aid the student has already used in fall and spring

       

    • How the college structures its academic year

       

    • Whether the summer classes count toward the degree

       

    • The student’s academic standing (especially SAP)

       

    In this guide, we’ll walk through when financial aid covers summer classes, common myths, real-life student stories, and the steps families should take before signing up.

    The #1 Misconception About Summer Financial Aid

    A huge source of confusion is this assumption:

    “FAFSA automatically gives us new aid for summer.”

    This leads to questions like:

    • Does financial aid cover summer classes the same way it does fall and spring?
    • Will my fall financial aid cover my summer classes if I already used it during the year?
    • Can you get financial aid for summer classes without submitting anything extra?

       

    Most families don’t realize:

    • Summer aid usually comes from the same academic year’s funds, not a brand-new pool.
    • Summer is often attached to the prior academic year, not treated as a fresh start.
    • Federal loans do not “refresh” for summer—annual limits still apply.
    • Colleges do not all treat summer the same. Each school sets its own policies.

       

    This is why families are often surprised when they ask, “Will my financial aid cover summer classes?” and the answer is “maybe—depending on what’s left.”

    Who We See Taking Summer Classes (and Why It Matters for Aid)

    At The College Planning Center, we most often advise:

    • Rising high school juniors and seniors taking dual-enrollment summer classes
    • College freshmen and sophomores who need to catch up, boost GPA, or stay on track
    • Students changing majors who must complete prerequisite courses quickly
    • Transfer students trying to finish missing credits before enrolling at a new school
    • Students targeting competitive programs (nursing, engineering, education, etc.)
    • Students trying to graduate early and reduce overall tuition and housing costs

    Our recommendations always depend on:

    • Academic readiness
    • Financial aid eligibility (including summer)
    • Long-term college goals

    When a family asks us, “Can you get financial aid for summer classes in this situation?”, we don’t just check one box—we look at the entire academic and financial picture.

    What Types of Financial Aid Can Cover Summer Classes?

    So, does financial aid cover summer classes at all? In many cases, yes—but with limits.

    Depending on the school and student, financial aid for summer classes may come from:

    1. Federal Aid (FAFSA-Based)

    • Pell Grants – If the student is Pell-eligible and hasn’t used their full annual amount, some may be available for summer.
    • Federal Direct Loans – If the student has not used their full annual loan limit in fall and spring, remaining eligibility may be applied to summer.

    This is often the real answer behind “Will my financial aid cover summer classes?”
     It depends on what’s left in the federal aid bucket.

    2. Institutional Aid

    Some colleges offer:

    • Summer scholarships or tuition discounts for students who stay on track in their major
    • Limited institutional grants for summer enrollment

    Policies vary widely, so you must ask each school directly.

    3. State Aid & Private Scholarships

    • State grants or scholarships sometimes apply to summer—but not always.
    • Private scholarships may or may not allow funds to be used in summer; this depends on the scholarship rules.

    4. Work-Study

    Some schools offer summer work-study positions, but slots are often limited and may require separate applications.

    Real-Life Example: When Summer Aid Was Approved

    Student A – Rising Sophomore at Clemson University

    Question they came in with:
     “Can you get financial aid for summer classes if you still have some loans left?”

    Situation:
     Student A had worked with The College Planning Center through high school. Strong merit scholarships (thanks to improved SAT scores and a standout application) reduced how much they needed to borrow.

    Summer Goal:
     Take two summer courses to stay ahead in their major.

    Why Summer Aid Was Approved:

    • They did not use their full federal loan eligibility in fall and spring.
    • The summer classes were degree-applicable, which is required for federal aid.
    • They were meeting SAP (Satisfactory Academic Progress) with strong grades.

    Outcome:

    The college approved:

    • A portion of their remaining federal loans for summer
    • A small amount of institutional scholarship aid tied to their major progress

    How CPC Helped:

    • Confirmed remaining loan eligibility
    • Verified that selected classes counted toward the degree
    • Compared the cost of taking those courses in summer vs. fall

    In this case, the answer to “Will financial aid cover summer classes?” was a clear yes—because funds and eligibility were still available.

    Real-Life Example: When Summer Aid Wasn’t Available

    Student B – First-Year at University of South Carolina

    Question their family asked:
     “Will my fall financial aid cover my summer classes if we already used everything we were offered?”

    Situation:
     Student B had some merit aid but needed maximum federal loans during the year to cover tuition and housing.

    Summer Goal:
     Take a required math class in summer to get back on track.

    Why Summer Aid Was Denied:

    • They had no remaining federal loan eligibility for that academic year.
    • Their merit scholarship applied to fall and spring only.
    • Their academic record triggered a SAP review, temporarily blocking federal aid eligibility.

    Outcome:

    • The financial aid office denied summer aid.
    • The student delayed the class until fall and focused on academic recovery.

    How CPC Helped:

    • Guided the family through a SAP appeal
    • Created a study and support plan
    • Restructured the fall course load to protect future aid

    Here, the honest answer to “Does financial aid cover summer classes?” was no—because the student had already used up the year’s resources and lost eligibility temporarily.

    Common Pitfalls That Block Financial Aid for Summer Classes

    We see the same problems over and over when families ask, “Why won’t my financial aid cover summer classes?”

    1. Using 100% of Loan Funds in Fall and Spring

    If a student maxes out their annual loan limit during the regular school year, there may be nothing left to apply toward summer.

    2. Dropping Below Half-Time Enrollment

    Many forms of aid require students to enroll at least half-time.
     If a student drops a class or withdraws, they can fall below half-time and lose summer aid they were counting on.

    3. SAP (Satisfactory Academic Progress) Problems

    Low GPA, too many withdrawals, or not completing enough credits can all cause SAP issues.
     If SAP isn’t met, even summer aid may be blocked.

    4. Assuming Scholarships Automatically Apply in Summer

    Most merit scholarships are fall/spring only, even if the letter doesn’t say “no summer” in big bold letters.

    5. Taking Classes That Don’t Count Toward the Degree

    Federal aid usually only covers degree-applicable courses.
     Random electives or “extra” classes may not qualify.

    6. Missing the Summer Aid Request Deadline

    Some colleges require:

    • A separate summer aid application, or
    • An earlier priority deadline

    Missing this can turn a possible yes into a no.

    When Are Summer Classes Financially Wise?

    • At The College Planning Center, we take a balanced, realistic approach. We don’t just ask, “Can you get financial aid for summer classes?” We ask:

      “Does it make academic and financial sense for your student?”

    Summer Classes Are Often Worth It When They:

    • Help a student graduate early, reducing an entire semester of tuition, housing, and fees
    • Protect or restore FAFSA eligibility by maintaining or improving SAP
    • Make a major change possible without delaying graduation
    • Improve GPA for selective programs

    Reduce fall/spring overload, decreasing burnout and grade risk

    Summer Classes May Not Be Wise When:

    • The student has no remaining aid and summer would mean high out-of-pocket costs
    • Tuition per credit is significantly higher in summer
    • The classes don’t count toward the degree

    The student is struggling academically and needs a break more than another course

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