Oyin Adedoyin
speaker
1,572 appearances
36 recordings
1 series
first heard Mar 2023
last heard Feb 2025
Oyin Adedoyin’s voice in public audio — every appearance, attributed to the second.
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Appearances
WSJ Your Money Briefing · The ‘Sibling Discount’ for College Financial-Aid Is Ending · 25 Jul 2023
podcast
Roughly one-third of families have siblings that are in college at the same time.
So that's not to say that all of those families are going to be affected, but a great deal of those families will be.
Yeah, it's a big chunk.
Financial aid officers told me that this is going to be a completely new FAFSA that no one has ever seen before.
So this is a big change for them.
And they're scrambling right now trying to figure out just how much this is going to change for families.
But they anticipate there's going to be a lot of questions and they're going to get an influx of calls from families as well once this comes out who are confused about the new system.
This change takes effect with the new FAFSA, which comes out in December of this year and is applied to the 2024-2025 academic school year.
It basically allows them to create their own identities on these accounts that are usually attached to a parent's account.
And it gives them their own spending power.
They can maybe even trade stocks.
They can create savings accounts.
And many of these accounts are also linked to a debit card.
Amazon, Uber, Cash App, Venmo, even Fidelity Investments have launched specialized teen accounts in recent years for teenagers between the ages of 13 and 17.
It basically allows them to create their own identities on these accounts that are usually attached to a parent's account.
And it gives them their own spending power.
They can maybe even trade stocks.
They can create savings accounts.
And many of these accounts are also linked to a debit card.
I spoke with someone who has experience working with fintech companies, and he was telling me that banks and companies like Uber, Venmo, Cash App like to create a certain stickiness with their customers.
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