S3|E7: Higher Education & Financial Wellness

We ran into a few internet hiccups while recording this episode, so you may notice some brief delays and interruptions. Thanks for sticking with us — we appreciate your support, and we hope you enjoy this candid conversation!On this episode of the Life. Money. You.® Podcast, Dani sits down with Alejo and special guest Phil, Executive Director of the Higher Education Financial Wellness Alliance (HEFWA). Together, they dig into the real financial challenges students face while navigating college costs, financial aid, and the pressure to make the “right” decisions about their future.The conversation opens with a look at financial anxiety among students and how factors like rising living costs, job uncertainty, and day‑to‑day expenses impact mental health and academic performance. Phil shares what he sees on campus and how early support can help students stay grounded and engaged.From there, the group explores common financial barriers that prevent students from completing their degrees. They discuss underestimated expenses like housing, books, and transportation, as well as the added pressures faced by first‑generation and lower‑income students—along with practical ways families can better prepare. The episode breaks down FAFSA misconceptions and why so many students delay or avoid the process altogether. Phil highlights the forms of aid families often overlook, including grants, campus‑based funding, and community scholarships—plus the importance of treating scholarship applications like a part‑time job that truly pays off.Next, the group covers budgeting strategies that actually work for students, emphasizing small steps, visibility into spending, and the campus resources that often go unused—from financial counseling to textbook sharing programs. They also acknowledge that budgeting alone doesn’t fix systemic challenges many families face.In the final segment, the trio discusses long‑term opportunities, the ROI of a college degree, and why students feel anxious about the job market. Phil shares how he helps students balance short‑term cost with long‑term goals and why completing a degree remains one of the strongest investments in stability and opportunity. The episode closes with Phil’s biggest piece of advice: ask questions early, avoid assumptions about aid eligibility, and don’t be afraid of loans or learning.Join our podcast community: https://podcasts.apple.com/us/podcast/life-money-you-podcast/id1636521227Learn more about membership with BCU: https://www.bcu.org/member-resources/join/membership-eligibilityYour host: Dani Buschick, Program Manager & Certified Financial CoachLife. Money. You.® | Helping people discover financial freedom with one-on-one coaching and digital solutions. | Subscribe @ LifeMoneyYou.com Today