The Hidden Traps of College Admissions & Financial Aid: What Every Parent Should Know

Health & Wellness
Written By Jill Consor Beck

Once again, the ladies of Purse Strings come through. They help women like YOU find financial professionals who will help you design a life FULL of choices. This time, Barb + Maggie introduced me to Lora Georgieva, founder of Destination College. Lora and her team provide comprehensive admission and financial aid assistance for aspiring college students and their families.

We all know that the cost of college in the United States is exorbitant. It’s another financial stressor that tends to hit women while in the sandwich generation as they are saving for retirement plus dealing with much of the other hidden labor associated with running a household.

I wanted to bring Lora on to help demystify some of the processes and myths around college admissions and financial aid. We covered a lot of ground, so hopefully you’ll find it helpful whether you’re in the midst of the process now or will be sometime soon!

About Lora

Lora has a bachelor’s degree in accounting with a double major in actuarial science. Her experience allows her to help hundreds of students get the financial aid they need through a careful review of their academic achievements and financial resources. Lora’s unique skill set is an asset to all her clients.

Based in Chicago, Lora and her team work with families all across the US and worldwide to make college affordable by finding the best path to their dream college. Her team of tax, financial, and academic planning experts specialize in creating a customized guide, making sure the students are matched to the major and school of their interests, and the parents can comfortably afford it.

NOTE: None of this is meant to be financial advice and this show doesn’t constitute a client-service provider relationship.

Major Topics Covered

  • Understanding financial aid options is crucial for families.

  • Community colleges can significantly reduce college costs.

  • Be wary of programs that require payment to apply for loans or grants.

  • Private colleges often provide more scholarships than public ones.

  • Negotiating tuition offers can lead to better financial aid packages.

  • College rankings should not be the sole focus for students.

  • Standardized test scores still play a role in admissions.

  • Essays are critical, especially for test-optional applications.

  • Focusing on a specific area of interest in extracurriculars is beneficial.

  • Every college can be a good fit if it aligns with the student's goals.

Quick Takeaways

Lora: Navigating college admissions and financial aid isn’t just about picking the best school—it’s about finding the right fit academically and financially. Many families overlook scholarship opportunities, financial aid negotiation, and the impact of assets on aid eligibility. Understanding these factors early can prevent costly mistakes and open doors to more affordable college options.

Jill: For parents—especially those juggling careers, aging parents, and teenagers—the college admissions process can feel overwhelming. Breaking it down into manageable steps and knowing what to look out for, from predatory loan scams to unexpected financial aid opportunities, makes all the difference. The key is to stay informed, ask the right questions, and remember that rankings don’t always equal the best choice for your child.

“One more thing I would to add is that parents might not be aware is that they can negotiate the actual tuition.” — Lora Georgieva, Owner of Destination College

Resources Mentioned During the Show

Ways to Connect with Lora

Ways to Connect with Go Long

Go Long recommends listening to the entire podcast for context, but knows you are all busy people so below you will see timestamps. This episode is also available on YouTube.

Looking for an accountability partner who isn’t going to judge whatever the habit is that you are trying to change?

Timestamps

0:00: Intro and how Lora moved into her role into advising families on the college admissions and financial aid processes

2:37: What to do if you haven’t saved enough for college, red flags for predatory loan scams and the underrated place to check into student loan options

8:05: Do certain school profiles tend to give more financial aid than others? Lora shares a little known tip on financial aid!

12:18: When should someone engage with a counselor who specializes in college admissions and financial aid process?

14:30: Do the SATs still matter? Which topics should your child stay away from in writing their essays? What about extra-curricular activities?

22:44: Are politics coming into the admissions process with respect to abortion and antisemitism?

24:00: Making your kid stand out in a crowded field, not ruling out some summer programs based on your financial situation and balancing between the need of making money vs. participating in volunteer and leadership activities.

27:52: Characteristics of “must-admit” kids

33:09: Course selection during high school and how that impacts the application

37:00: Are there underrated and overrated schools? Does it matter once college is over? Discussion of trade schools and how Jill’s electrician spends 1/3 of the year golfing in Arizona.

42:00: How Lora works with families to narrow down the number of schools they apply to, and how does Early Decision impact financial aid

46:30: Wrap up

Jill Consor Beck https://golong.me
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