What is Martha Savery’s perspective on college financial planning, financial aid and 529s?
This article features a transcript of a video interview with Martha Savery, Director of Public Affairs with Massachusetts Educational Financing Authority (MEFA) from Day 1 of the 529 Conference 2016. At the event, Martha taught the “Lifecycle of Planning, Saving & Paying for College” session at the ‘529 Essentials’ pre-conference seminar at the 529 Conference 2016. The session covered the importance of college financial planning, saving and 529s, and the impact of savings on financial aid and expected family contributions (EFC). Additionally, the session covered the Federal financial aid process, and provided an overview of the Free Application for Federal Student Aid (FAFSA). Lastly, the session provided a comprehensive approach to paying for college with several examples to teach the key points of the session. For over thirty years, Martha has distinguished herself as an expert in financing higher education helping countless students and families successfully navigate the complex and challenging journey to and through college. Martha has held numerous leadership positions across financial aid and admissions departments at leading public and private institutions in the Commonwealth of Massachusetts, including Harvard Graduate School of Education where she spent a number of years. In her role as the Director of Public Affairs at the Massachusetts Educational Financing Authority, Martha is responsible for the Authority’s external relations and outreach activities working with colleges, high schools, community based organizations and the Commonwealths College and Career Web Portal Your Plan for the Future. Martha is regularly quoted in the financial and education press and is a frequent presenter at state, regional and national conferences and seminars. You can watch the video on Youtube at https://youtu.be/tQ0ndiLgL-0, and learn more about Martha Savery and her organization at https://www.mefa.org/. Last but not least, thank you Martha for your time, insight and support for working with me on the interview, and we look forward to your presentation at the 529 Conference 2017 as well. Please read the question and answer to learn about her perspective on 529s and financial aid, and hope that the article provides you with an opportunity to learn more from your peers.
Question 1 (Paul Curley, Editor of the 529 Dash): Martha, can you please talk to me about the importance of college financial planning, financial aid and 529s?
Answer 1 (Martha Savery, Director of Public Affairs with Massachusetts Educational Financing Authority): That’s a great question, and I’m happy to share what I know. For families today, the cost of college continues to rise. And as they look at that long term, they have to be mindful about the fact that they are going to need that money to help offset those charges when it comes time for their college bill to be paid. Students today and in the future will not be getting 100% of their college costs covered by financial aid, and so families really need to have a good position to fall back on.
Editor’s Final Note: Thank you Martha Savery for your time and insight at the 529 Conference 2016, and we look forward to your presentation session titled, “Financial Aid: Lifecycle of Planning, Saving & Paying for College,” at the ‘529 Essentials’ pre-conference seminar at the 529 Conference 2017. Also, I would like to provide a special thank you to the readers for learning from your peers, for your support and your engagement. Learn more about the 529 Conference 2017 at www.529conference.com.