UNDERSTANDING HOW FINANCIAL AID REALLY WORKS
FROM BALTIMORE WASHINGTON FINANCIAL ADVISORS
with
Thad Ismart | CFP®, ChFEBC, CEPS
Senior Financial Planner
About This Episode
Financial aid is often misunderstood. Learn how the system really works and what families should consider when planning for college costs.
Full Description
Financial aid plays an important role in college planning, yet many families misunderstand how it works and what it can realistically provide. Assumptions about eligibility, timing, and availability often lead to confusion and missed opportunities. Understanding the basics early can make a meaningful difference in how families prepare for higher education expenses.
In this episode of Healthy, Wealthy & Wise, Thad Ismart, CFP®, ChFEBC, CEPS, breaks down the realities of financial aid and explains why expectations do not always match outcomes. He discusses how financial aid formulas evaluate income, assets, and household factors, and why aid packages can vary significantly from one school to another.
The conversation also addresses common misconceptions, such as the belief that only low-income families qualify for assistance or that financial aid will cover the majority of college costs. Thad explains how financial aid decisions are influenced by multiple variables and why planning ahead is essential for families across income levels.
Listeners will gain insight into how financial aid fits into a broader college funding strategy. While aid can help reduce costs, it should not be the sole plan. Thad emphasizes the importance of understanding deadlines, completing required forms accurately, and coordinating financial aid expectations with other savings and planning tools.
At BWFA, we help families navigate college planning with a clear, realistic approach. By understanding how financial aid truly works, families can make more informed decisions and avoid surprises along the way.
To learn more about how education planning fits into your overall financial picture, visit BWFA’s Financial Planning page and explore how thoughtful planning can help you move forward with confidence.
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