Today I'm joined by Jack Wang to talk college planning strategies. As a college planning expert Jack break down major changes coming to college financial aid under the new “big, beautiful bill.” Jack explains how new borrowing limits for parents and graduate students could upend traditional funding strategies and push more families toward the private loan market. He shares insights on how colleges decide who gets aid—revealing the “moneyball” game of enrollment management—and why being wanted by a school matters more than just being accepted. Jack offers practical advice on how families can spend less on college by targeting schools that align with their financial and academic profiles. Today we discuss...
- Jack Wang explains how his personal experience navigating college costs during a divorce inspired him to become an expert in college financial aid planning.
- He discusses the new “big, beautiful bill,” which introduces sweeping changes to college funding and borrowing rules beginning in 2026.
- Parent PLUS loans will soon be limited to $20,000 per year and $65,000 total, ending the previous system of virtually unlimited borrowing.
- Many families focus on helping their child get accepted into college without understanding how they will actually afford it afterward.
- Jack encourages families to prioritize schools that offer the most generous financial aid rather than chasing prestige or name recognition.
- He clarifies that financial aid isn’t just for low-income families—colleges often give significant aid to higher-income households if the student fits their goals.
- Colleges operate like businesses using “enrollment management,” a strategy to attract certain types of students who align with institutional priorities.
- Jack explains that being wanted by a college often leads to larger scholarships than simply being accepted.
- Signs a school may want your student include launching new majors, building new facilities, or heavily recruiting from your region.
- Families should be cautious about applying to overcrowded majors like business, which typically receive less financial aid because demand is already high.
- Understanding each college’s scholarship policies and true costs upfront helps families make smarter, more affordable decisions.
- Jack stresses that financial planning should begin as early as freshman year of high school, since aid decisions rely on sophomore-year tax data.
- Visiting campuses and showing consistent interest can improve a student’s appeal and increase their chances of receiving aid.
- He concludes that families will either spend the time planning early or spend far more money later if they fail to prepare.
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Today's Guest: Jack Wang
Jack Wang is an expert in helping families pay for plan for college. Much of his works is with middle school and high school age students to help them lower the cost of college without "breaking the bank". He's helped hundreds of families and students (including his own 2 children) understand financial aid, student loan options, and payment strategies in context of overall family finances.
Jack studied finance at the University of Texas at Austin and started in the banking industry where he spent 12 years as a commercial banker. He also was a corporate trainer for 10 years before starting his own firm.
He currently resides in Westford, MA. He and his wife each have two children, ranging from college graduates to high school. Jack currently serves as Treasurer of WestfordCAT Board of Directors and is a member of fundraising committee for Danny's Place Youth Services (Acton, MA). He's also served as an entrepreneurship mentor for the Difference-Maker program at UMass Lowell, and a mentor for EforAll (Lowell, MA).
Jack's Online Presence:
Today's Panelists
Phil Weiss | Apprise Wealth Management
Kirk Chisholm | Innovative Advisory Group