By Erik Garcia
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November 3, 2026
Are families leaving financial aid money on the table, or are we being sold the idea that there’s a secret way to make college more affordable? With tuition costs climbing and student loan rules changing, figuring out how to pay for college can leave even the most financially savvy parents feeling overwhelmed.
In this episode of Stuff About Money They Didn’t Teach You in School, Erik Garcia, CFP®, ChFC®, BFA™, welcomes back college planning expert John Hupalo, founder of Invite Education and My College Corner, for a candid conversation about the real cost of college. They discuss whether college is still worth the investment, major changes to Parent PLUS loans, the benefits of 529 plans, and why taking on student debt isn’t always a bad thing. Erik and John also explore the growing tension between funding a child’s education and saving for retirement, the importance of finding a school that’s a financial fit, and why honest conversations with your kids may be the most valuable part of the college planning process.
Episode Highlights:
- John shares how his career in student loan finance and his daughters’ college search led him to found Invite Education. (02:30)
- John explains why paid FAFSA courses rarely help, since the form pulls tax returns from two years earlier. (08:57)
- Grandparent-owned 529 plans no longer count on a student’s financial aid form, as John explains. (13:18)
- A simple rule of thumb: student loan debt at or below a graduate’s starting salary should be manageable. (18:54)
- Erik shares why giving kids their own money to manage at home builds spending habits before they leave. (24:24)
- John explains how Parent PLUS loans let families borrow up to the full cost of attendance with almost no credit testing. (31:38)
- John explains the new “ability to benefit” test, which requires programs to show their graduates out-earn those without the degree. (37:07)
- A lower-cost local nursing program can deliver a far better return than an expensive school that leads to the same job. (41:54)
- John shares why Invite Education sees AI as a tool that amplifies experience but cannot replace a human conversation. (46:24)
Key Quotes:
- “It’s all about choices. The choices that they’re going to make, the money they’re going to spend, where they’re going to spend it, how they’re going to spend it, what they have to save for.” – John Hupalo
- “People were worried about academic fit and social fit, and they weren’t thinking much about financial fit, right? And I think that’s the third leg of the stool.” – John Hupalo
- “The conversation is almost the most important part of the entire process, the sooner you start it, the better.” – Erik Garcia, CFP®, ChFC®, BFA™
Resources Mentioned:
Your First Step to Financial Security
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