Navigating the cost of a college education in the U.S. can feel overwhelming, especially when many students turn to loans that can lead to long-term financial stress. To help ease this burden, Ben Kaplan, author of the widely acclaimed Scholars & Dollars book, has launched College Financial Prep Week, which takes place from January 26 to February 1 this year.
This weeklong initiative equips students with practical advice, insider tips, and a helpful checklist for getting their financial house in order before college begins. It’s the perfect opportunity to plan ahead and start the college journey with confidence—without the looming financial worries!
History of National College Financial Prep Week
Starting college is an exciting adventure but the financial challenges can quickly turn it into a balancing act of managing expenses and taking on debt. With the right planning and resources, however, you can manage these costs and set yourself up for a financially stress-free college experience!
Ben Kaplan, author of the widely acclaimed Scholars & Dollars, launched National College Financial Prep Week to offer students and parents the practical tools they need to get their finances in order before heading to college.
During National College Financial Prep Week, students are introduced to valuable insights and actionable steps to minimize the financial impact of higher education. Kaplan emphasizes the importance of securing scholarships and grants—funding sources that don’t require repayment—as a primary strategy. Kaplan’s Scholars & Dollars, a comprehensive guide designed to help students navigate the complexities of financing their college education, offers practical tips on how to secure these scholarships, grants, and other forms of financial aid, empowering students to reduce the burden of tuition fees.
As part of College Financial Prep Week, his initiative provides valuable resources, readiness tools, and creative strategies for students to save money, ensuring they are well-prepared for the financial aspects of higher education. This educational holiday encourages students to take proactive steps toward funding their college experience.
National College Financial Prep Week timeline
The HEA is established to provide federal funding that supports both individuals pursuing a postsecondary education and institutions of higher education.
The Pell Grant is established by the Department of Education and becomes a key source of financial aid for low-income students.
The FAFSA centralizes the application process, making it more accessible to millions of students, and becomes the primary tool for students to apply for federal financial aid.
The first beta version of Scholaroo launches with a focus on making college scholarship searches less time-consuming and burdensome.
Ben Kaplan authors Scholars & Dollars and it receives critical acclaim.
This weeklong initiative is designed to equip students and families with the tools they need to manage college finances effectively.
National College Financial Prep Week FAQs
What are the best strategies to avoid student loan debt?
One effective way to minimize debt is by securing scholarships and applying for grants. During College Financial Prep Week, you’ll learn how to avoid relying solely on loans and explore alternatives.
What types of scholarships are available for college students?
The great thing about scholarships is they come in many forms, including merit-based, need-based, athletic, and subject-specific awards. There are also scholarships for specific demographics, such as first-generation college students, underrepresented groups, or those pursuing certain career paths.
How do I find scholarships?
You can find scholarships through online databases, college websites, local organizations, and community groups. During National College Financial Prep Week, students will learn the most effective ways to search for the scholarships best suited to their specific needs.
4 Key Action Steps Students and Parents Should Take During the Week
Attend a college financial prep webinar at Scholaroo
Join one of the expert-led webinars provided by Scholaroo to gain valuable insights. These webinars cover key topics such as scholarships, loans, and budgeting, and provide actionable steps to help students make informed decisions about their financial future.
Complete the New Free Application for Federal Student Aid (FAFSA)
Completing and submitting the FAFSA form is free and easy, and it provides access to the largest source of college financial aid. By submitting the FAFSA early, students can maximize their chances of receiving grants, scholarships, and low-interest loans.
Get Scholars & Dollars
Do you want to learn how to win the best scholarships or supersize financial aid packages? Read Scholars & Dollars to discover how, and so much more.
Browse student discount sites to save on college-related expenses
Explore various student discount websites to find savings on textbooks, technology, transportation, and much more. These sites offer exclusive deals and promotions to students, which can greatly help to lower overall college-related expenses and ease the financial burden throughout the school year.
5 Biggest College Expenses To Consider
Tuition fees
Tuition is the largest and most obvious expense. It can vary significantly depending on the college, whether it's public or private, and if you're an in-state or out-of-state student.
Room and board
Housing and meals are a significant part of the college experience and can take up a large portion of your budget. Whether you're living on-campus or off-campus, costs for rent, utilities, and meal plans (or groceries if you're cooking) can add up quickly.
Textbooks and supplies
Textbooks, lab equipment, and other academic supplies can be unexpectedly expensive. New textbooks can cost hundreds of dollars each semester but buying used or digital versions, or renting textbooks, can help lower these costs.
Transportation
Depending on the distance from home and your mode of travel, transportation can be a significant expense. Whether you're paying for gas, parking permits, public transportation, or flights home, it’s important to budget for these recurring costs.
Personal expenses
Beyond academics, students should account for personal spending on things like clothing, toiletries, entertainment, and social activities. While these may seem less urgent, they can quickly accumulate throughout the semester and impact your overall budget.
Why National College Financial Prep Week is Important
Master your college budget
College is expensive but with the right tools, managing your finances can feel like a breeze. College Financial Prep Week helps you create a solid budget plan to ensure you're ready to handle tuition, living expenses, and everything else in between with confidence.
Learn how to secure scholarships and avoid debt pitfalls
Scholarships are a fantastic way to reduce the financial burden of college and learning how to apply for them can make a huge difference. By focusing on securing scholarships, you can minimize the need for loans and ensure you’re funding your education without the stress of future repayments.
Discover hidden savings opportunities
College-related expenses add up quickly but College Financial Prep Week is the perfect time to uncover discounts and savings. Whether it’s student discounts, budget-friendly shopping tips, or ways to cut costs, you’ll learn how to stretch your dollar further.
National College Financial Prep Week dates
| Year | Date | Day |
|---|---|---|
| 2025 | January 26 | Sunday |
| 2026 | January 25 | Sunday |
| 2027 | January 31 | Sunday |
| 2028 | January 30 | Sunday |
| 2029 | January 28 | Sunday |
