Could applying for financial aid hurt your student's chances of getting into college? What can middle-income families do when they earn too much to qualify for significant need-based aid but still can't afford full tuition? And are you reporting your family's assets correctly on the FAFSA and CSS Profile?

In this episode of Ol' College Try, Peg Keough and Matt Carpenter are back together for another listener Q&A, answering some of the most common—and complicated—questions families face when navigating college admissions and financial aid.

From understanding need-blind versus need-aware admissions to finding merit scholarships, reporting business assets, and navigating financial aid forms during a divorce, Peg and Matt break down the strategies families should understand before submitting their financial information.

With November 1 and November 15 deadlines approaching, this episode is packed with practical insights to help families avoid costly mistakes and make more informed college planning decisions.

Tell us more about you! Fill out this survey!

In this episode, we cover:

🎓 Whether applying for financial aid can affect your student's chances of college admission

🏫 The difference between need-blind and need-aware admissions—and why some colleges consider a family's ability to pay

🏆 Why merit scholarships can be especially valuable for families who don't qualify for significant need-based aid

🌎 How to find out-of-state public universities that offer generous merit scholarships instead of assuming every out-of-state option is unaffordable

💼 How the FAFSA and CSS Profile treat family-owned businesses differently

📋 How to approach the CSS Profile question asking how much parents and relatives expect to contribute toward college costs

⚠️ Why overestimating your family's ability to pay can create problems during the financial aid process

💔 How separated parents who haven't finalized their divorce should approach reporting jointly owned assets

📈 A listener's question about whether potential capital gains taxes should factor into reporting the value of brokerage investments—and Peg and Matt's perspective on that strategy

⏰ Why families with high school seniors should pay close attention to approaching November financial aid and application deadlines

Key Takeaway: Getting the best financial deal on college starts with understanding your family's actual financial aid eligibility—not making assumptions about what you can or cannot afford.

For families who don't qualify for substantial need-based aid, merit scholarships and strategic college selection can make an enormous difference. And for business owners, separated parents, and families with investments, understanding how financial aid forms evaluate income and assets is especially important.

Peg and Matt also emphasize that the details matter. Whether you're comparing tuition versus total cost of attendance, estimating what your family can contribute, or determining which assets must be reported, inaccurate assumptions can affect your financial aid picture.

The goal is to complete your financial aid forms accurately, understand the rules that apply to your family, and build a college list that makes sense both academically and financially.

🎵 Song of the Week:Koisar by Kings of Leon

🎧 Listen to our full podcast playlist here:

https://hubs.li/Q03kvxZn0

📚 Resources & Links

🔢 Understand your college costs for FREE

→ Create your MyCAP Account: https://hubs.li/Q03PTJ_x0

📄 Download the Student Loan Fact Sheet

→ https://hubs.li/Q04cmnWD0

💰 Get 15% OFF sitewide with code COLLEGETRY15

→ https://shop.collegeaidpro.com/

📱 Follow College Aid Pro:

Facebook: https://www.facebook.com/CollegeAidPro

Instagram: https://www.instagram.com/collegeaidpro

TikTok: https://www.tiktok.com/@collegeaidpro

LinkedIn: https://www.linkedin.com/company/college-aid-pro

🌐 Learn more about College Aid Pro:

https://collegeaidpro.com