Category Archives: college planning

Paying for College: The Best Strategy

 

paying for college

Last night I spoke with a relative whose son just had a baby. The parents were already developing a strategy for paying for college. When she told me they were planning to enter their child in beauty pageants to foot the bill, I had to interject. I told her this was certainly going to cost the parents money and  the rewards would probably not be worth the effort. Then I told her the best strategy to pay for college: good grades.

According to an NACAC survey, colleges rank the grades in college prep courses, the strength of curriculum, and grades in all courses as the top factors in the admissions decision. But here’s the added bonus, those grades can also net a student huge rewards in financial aid. Many colleges will award automatic full-ride scholarships to students with high GPAs and class rank.

Instead of placing all your college money “eggs in one basket”, in addition to saving, use these three strategies to create a plan that will pay the college tuition bill:

Focus on academics

The tone is set freshman year. Make it a goal to choose the pre-college courses (AP and Honors) and get the best grades possible in these courses. If your student does poorly freshman year, it makes it difficult to catch up later. All throughout high school, your student should place high value on academic progress: commit to study, prepare for class and tests, seek help when needed, and put academics before any other activity.

Apply for outside scholarships

Start applying for scholarships as early as possible. Waiting until senior year is a poor decision. There are scholarships available for all ages. It should be your student’s “job” during high school to search and apply for scholarships. An hour a day can produce huge rewards and start racking up funds each year to make a huge dent in the tuition bill.

Chose the colleges with the best financial aid footprint

What does this mean? Look for colleges with a high percentage of financial aid. Every college reports the statistics related to their financial aid profile. These statistics can tell you how generous they are with their scholarships and grants and also the percentage of students who receive help with their tuition.

The best resource available for these statistics is College Navigator. You can enter the name of the college, or search using criteria such as location, size, and degree plans. Once you’ve pulled up the data, you can use it to compare colleges.

If you use these three “paying for college” strategies, no matter where you are in the process, your student should be able to graduate from college with little or no debt. Additionally, you should be able to pay for college without borrowing or dipping into your retirement (which I never recommend).

10 Things to Do After National College Decision Day

 

NATIONAL COLLEGE DECISION DAYIt’s that time of year again. May 1 is approaching and for parents of seniors it’s THE DAY that their student’s hard work is finally realized. National College Decision Day is the day your student has to decide which college they will attend. For some, it will be an easy decision. For others, like my daughter, it will be an excruciating one.

My daughter waited until the last minute—the very last minute—to decide. She was torn between two very similar colleges: one in her home state of Texas and one thousands of miles away in Massachusetts. Both offered the same financial aid, the same course curriculum, the same campus setting, and Greek life (#1 on her list). The final dealmaker was location. She had always wanted to attend college in Boston and that’s what tipped the scale.

Once your student has decided which offer of admission to accept, it’s time for celebration. It’s a time to look ahead, savor all the hard work, and prepare for the next few months. Here are ten things you should do after the decision is made:

  1. Prepare for buyer’s remorse

Even if your son or daughter is sure about their college choice, buyer’s remorse will set it at some point during the next few months. It’s that overwhelming feeling that perhaps they choose the wrong college or made the wrong decision. It’s that feeling that perhaps they don’t want to leave home after all because of a) their friends, b) their boyfriend or girlfriend, or c) they are terrified to be on their own. Don’t react, just listen. They have to work through their anxiety.

  1. Plan for orientation-both student and parents

It’s time to get the calendar out and look at student/parent orientation dates. This is one event neither you nor your student want to miss. Parents learn valuable information at orientation and students make much-needed connections with other students. Orientation will help your student ease into college life and help you cope as they make the move from home to independent living.

  1. Keep looking for scholarship money

You may have a financial aid package in line, but you should never stop looking and applying for scholarships. College is expensive and even those $500 awards will add up. All throughout college your student should continue applying for scholarships.

  1. Prepare for fall registration

It’s time to pour over the course catalog and academic requirements. Check out the college’s AP policies, which vary quite a bit from college to college. Your child still has time to sign up for May or June SAT II tests in preparation for fall registration. Official scores for these tests, however, will need to be sent to the college so they will have them on record when registering for classes.

  1. Expect your emotions to be all over the place

By the end of the summer, you may be counting the days until your teenager leaves for college. Typically they become moody, argumentative and begin exerting what they feel is logical independence. There will be times when you wish they were already gone, and times when you wish they would never leave. It’s a whirlwind of conflicted emotions and every parent experiences them. Just as your student is working through this life change, you are coming to grips with it as well.

  1. Book parents weekend now

This may sound like crazy advice, but if there’s one thing you do in this list—do this. Hotels fill up quickly for parents weekend, along with rental cars. Expect to pay higher than normal hotel prices because these dates happen every year and the hotels book quickly. If you are flying to the college or taking a train, book that part of the travel early as well.

  1. Look at the calendar and plan for holiday travel

If your student has to fly home or take a train, look at the academic calendar and book travel for them. Waiting until the last minute may leave your student stranded on campus or force you to pay high prices for a last minute ticket.

  1. Go shopping, but don’t overbuy

Scope out the area around the college for chains like Bed Bath and Beyond, Target or The Container Store. You can order online and arrange to pick up when you arrive at college. Wait until you know the layout of the room and your college student has had a conversation with their roommate. This will alleviate duplicate purchases and overbuying items that aren’t dorm essentials. Remember, these are “small” spaces. You and your student may be tempted to go crazy with the bling, but it’s better to wait until move in day for that.

  1. Schedule a family vacation

If possible, schedule a family vacation. It may be the only time you see your son or daughter before they leave for college. They will be bulking up on friend time, significant other time, and anything away from their parents and the family. It’s normal; they are preparing for separation.

  1. Have a serious money talk

Once the college decision is made, it’s time to reiterate what you expect them to contribute to their education financially and what you expect from them academically since you are also contributing a significant amount toward this education. Begin budgeting for expenses and discussing how they will pay for essentials during the year: either through a job or by you providing them with a monthly stipend.

 

My Son’s Path to College Graduation Took 9 Years After High School

 

This week, I will be sharing some personal stories and experiences of my own children’s path to college. I hope they help enlighten you and encourage you to help your college-bound teen.

college graduation

During his senior year of high school, my son applied to three schools: the Air Force Academy, West Point, and the Citadel. He knew he didn’t have the grades to get into these competitive colleges, but they were his dream schools. He didn’t apply anywhere else and when he was not offered admission, he decided to give up on college. He was defeated and felt he couldn’t possibly succeed. He also felt college was out of the question without scholarships and he did not bother to apply for any. Because of this, my son’s path to college graduation took nine years after high school.

Unfortunately, I was an uninformed parent. I did not know at the time there were many other options for him. He could have attended community college for a nominal cost. He could have applied rolling admission to colleges that were within our ability to pay. He could have chosen a military college and accepted an officer’s commission after graduation. But because he felt he had few options, he opted for the military, with the promise of attending college while serving.

Since he chose the Marines, he had little time to attend college. After serving his four years, he was honorably discharged and the day after leaving the Marine Corps, he began attending a state college on the G.I Bill. Unfortunately, he made a poor college choice. Based on his Marine buddies recommendations, he chose a “party” school. To make matters worse, the college was a commuter college—students went home on the weekends.

[ctt title=”Every student has a different path to college–be sensitive and be an encourager” tweet=”My son took 9 years after high school to graduate college–every student has a different path via @suzanneshaffer” coverup=”BO9db”]

After one semester, he withdrew with an absolutely disappointing 1.0 GPA. It was not that he was a poor student. He just wasn’t ready. After being told what to do for four years, he wasn’t disciplined enough to attend class, study, and participate in discussions. His plan—come home and find a full-time job. We agreed to give him six months.

After working at a minimum wage job for one year and living in a small studio apartment, it became clear to him that he needed a college education. Since his GPA would not allow him to re-enter college, he decided to attend community college, retake the same courses, bring up his GPA and transfer to a four-year college after he had met the basic requirements. Better yet, his G.I Bill and Pell Grant would cover all his tuition, making it possible to attend for two years without incurring any student loan debt.

After two years of community college, he transferred to a private college with a 4.0 GPA. Because of his excellent academic standing, he was able to secure scholarships for this college as well. After two more years, and nine years after high school, he graduated Magna Cum Laude with numerous academic merit awards. It was clear that he was capable of so much more than he thought he was in high school.

What made the difference? He was ready. After working for a year making minimum wage, he realized the importance of a college education. He made a plan and kept his eye on the prize. As he did in the Marines, he excelled in the execution of that plan and reaped the rewards of his academic commitment.

Is your teen a good student and is struggling with a college decision? Don’t be discouraged. He or she may not be ready. A gap year might be in order. Working at a trade or internship could help motivate them. For my son, the military was the best option. Whatever your teenager decides, the path he or she takes should be the path that best fits them. Forcing a student to attend college if he’s not ready will only lead to disaster: financial and personal failure.

If you think your unmotivated student has few education options after high school, think again. Community college is always an option, offering an opportunity to ease into college life. Trade schools offer a hands-on education and for some students, the best choice. There are colleges who accept applications year round, and even colleges that have a 100% acceptance rate. Just because your student does mediocre in high school, don’t assume college will be an academic repeat. If college is truly his goal, he will make it work; and he just might surprise you.

10 Criteria to Narrow Down Your College List

 

college list

There are over 4000 four-year colleges in the United States and another 1900 community colleges. Choosing a college can be overwhelming if you don’t narrow down the choices with this simple list of basic criteria. Once you’ve narrowed down the college list, you can get more selective and specific with your final choices.

Here is a list of 10 choice criteria to consider:

  • Your study preferences—Are they more comfortable in a structured class or do you excel doing independent study? Do you require academic challenge or prefer in-class time with little or no additional study?
  • Money—Your budget plays a huge factor in the decision process. If your budget is tight, will you consider student loans? And if so, will an expensive private university be worth the debt?
  • Size—Do you want small class size or does it matter? Does being part of a large student body appeal to you or would they prefer a small college atmosphere?
  • Location—Do you want to go away to college or stay close by so you can live at home? Are you looking for a cultural experience that a big city offers or a down home experience provided by a small town college?
  • Extracurriculars—Are you set on joining a sorority or a fraternity? Are these offered at the colleges you are considering? Are there other activities that you feel are crucial to having a positive college experience (i.e. working on a campus newspaper, participating in intramural sports, studying abroad)?
  • Academics—Is there a specific major you are interested in or will a liberal arts degree do? Not every university offers the same academic disciplines.
  • Career focus—Do you want to study the culinary arts or fashion design? Consider a school that offers these types of specialized degrees.
  • Sports—Does the school have a huge sports program or do sports play little impact in your decision?
  • Competitive vs Non-competitive—Do you have the resume that will ensure acceptance in a competitive college like Stanford or Penn State? Or do you have a strong academic showing that would send you to the top of the list at a non-competitive college and qualify you for a full scholarship?
  • Specialized programs—Do you want to work in the stock market? Does the school offer a trading room? What about internships, undergraduate research, service learning, and even specialized senior capstone projects (integrating and synthesizing what you have learned).

The college list should be loosely formed by the start of senior year. Juniors should be focusing on college visits and start working on their list. Seniors should review this list and once offers of admission arrive, use it to make the final choice.

3 New Years Resolutions You Should Keep

 

new years resolutions

 

I’m not, nor ever have been, a fan of New Years resolutions. I like the line from Hitchhikers Guide to the Galaxy, “I like the sound of deadlines as they go whooshing by.” That’s how I feel about resolutions. Not all resolutions are bad, however. Some (the ones that are logical and attainable) can and should be kept.

Here are three resolutions you should keep if you have a college-bound teen. They are simple goals and will help make the entire college prep process less stressful and overwhelming.

Stay organized

Resolve at the beginning of the new year to stay organized. The college prep process requires organization: test registration deadlines to meet, recommendation letters to pursue, college applications to complete, financial aid to apply for, scholarships to submit applications and the mounds of college information your student will receive during the process. Whew, that was a LONG list!

Without committing to stay organized, the process becomes stressful and overwhelming. Use separate email accounts, calendar programs, file folders, usb drives, and don’t forget to create a college landing zone for everything your student receives at school that is college related.

Work as a Team

It’s impossible to expect a teenager to handle this monumental task alone. I’m not suggesting you write the essay, fill out the applications, apply for the scholarships, or make the college choices. But I am encouraging you to help with the organization, remind about the deadlines, proofread the essays, help find the scholarships, and give advice when asked.

You should also make it perfectly clear that this is their decision, but they don’t have to make it alone. If you work as a team, not only will your teenager be less stressed, but you will feel like you’re part of the process and less likely to take over.

Focus on the big picture

In the end, it won’t matter much which college your student attends. Focus on the big picture. It won’t matter what their SAT scores were or if the college has a prestigious name. Concentrate on finding the perfect fit college (the one that socially, academically, and financially fits). Then your student will have the best four years of their lives, along with an education and tons of lifelong memories and friendships.

All the best to every parent who is navigating the college maze. May 2016 be a year of success, fulfillment and absolute joy for you and your college-bound teen.

College Planning for 2016

 

2016

With the Christmas season upon us and students out of school, it’s a good time to look at what lies ahead and make some plans to hit the ground running in January 2016.

First things first, take a look at scholarships with January deadlines. These should be at the top of your list to begin 2016. Make scholarship searching and applying a priority in 2016. Say you don’t need money for college? Everyone likes free money! The more scholarship money your student earns the less you will have to pay. Save for retirement. Take a cruise. Remodel your home. Wouldn’t you rather keep the money you saved and use it for other family expenses? It’s a no-brainer–every student should apply for scholarships.

For seniors, it’s FAFSA time. Yes. It’s the dreaded FAFSA (much like the dreaded IRS forms). Don’t procrastinate. With the FAFSA, the early bird gets the worm (or in college terms, gets the money). School award aid on a first-come, first-serve basis. Once it’s available on January 1, get that puppy done. Even if you don’t want federal aid, fill it out. Colleges use this form when awarding other types of financial aid like grants and scholarships.

For juniors, it’s SAT/ACT prep time. If you’re taking the test in 2016, you’re going to be staring the new SAT in the face: it’s going to be available in March 2016. Use the next couple of months to prepare for the test. There are free tools on line to help you study and consider hiring a tutor if you think it will help your student focus and prepare.

Don’t wait to register for these tests at the last minute. If you plan to take the tests in January, REGISTER NOW! And it it’s in the spring, register now to avoid late registration fees. For a comprehensive guide on these registration and test dates, click here.

For sophomores and juniors, it’s time to start thinking about college visits. Sophomores should plan preliminary college visits (visit some colleges to get a feel for college life and prepare a list of wants and needs). Juniors will be making visits to show the college they are interested. Sign up for the tour and schedule and interview. Colleges keep tract of these visits and it will give you an edge when your application is received.

With a new year, comes new challenges and college-related tasks. Planning in December can help you hit the ground running in January and move forward in 2016.

Don’t Let the Wrong Things Stand in the Way of Your Child’s College Dreams

 

college dreams

What are your student’s college dreams?

There are many reasons your child may not get into a specific college—but you should never be one of them.

Sometimes it simply comes down to other applicants being more qualified—whether that be through grades or extracurriculars, maturity level or how admissions officers feel a student will jibe with the university, its mission and the makeup of its incoming class.

But there are many external roadblocks we put on our children that can limit them. Here are three of the most common—and the most detrimental.

  1. Show me… money!

Of course, tuition is astronomically expensive, and no one wants to saddle their child with the huge debts that have been the bane of the current generation of post-grads. That being said, there are always scholarships and fellowships available to people with the right skill level.

If your student has a high level of achievement and is looking toward a trajectory that seems like it will break your bank, start your research on these opportunities early—at least a year in advance of application dates. Many scholarship applications are hard work and require essays, financial statements and recommendation letters.   

College counselors may be able to help outline solutions too, and there are also a great many free college fairs around the country. Check out the calendars for these, because they not only have people there as representatives of major universities, they also have resources to help your student find the financial aid that is necessary for him or her to achieve a college dream.

In the end, if you have to go with loans, don’t fret… it’s possible that all will be forgiven sometime soon!

  1. But where in the world is it?

Many students (and parents) get hung up on staying close to home, with friends, or in a warmer clime. Encourage your student to look deeper into the kind of education they will receive, rather than whether it gets too far below zero (at say the University of Minnesota). What you know (that they likely do not) is that four years is not a long time. Your child can always return to the bosom of the family, or back to sunny California, once they have a solid degree in hand. But who knows—maybe ice fishing will become a favorite new hobby.

  1. I don’t know where I want to go!

Another common roadblock to finding the right university is too many choices when it comes to the future. It’s important to sit down with your child and have a conversation about what they want in a school, even if they keep saying “I dunno.” Keep in mind there is no perfect place and there are many “right” schools to choose from. I know it seems like a massive decision, but it’s one you can get wrong and not suffer too much—a student can always transfer if things don’t work out.

Here are some areas to focus on to help your child whittle down their list of potential schools:

  • Size of school: Would they be excited about the opportunities of a large campus or prefer the individualized instruction of a smaller school?
  • Faculty: Look up the achievements of the professors in certain areas that might interest your son or daughter. Keep in mind elite professors may be on sabbaticals, but it demonstrates a level of commitment to a specific subject at a university. Research opportunities are another part of this. Is the University participating in cutting-edge research in an area that is exciting to your young student?
  • Extracurriculars: Actively investigate where extracurriculars that interest your child are strongest. This will be part of finding the right fit. See if clubs, athletics or performance groups have a high level of achievement.
  • Study Abroad Possibilities: Is this something your student wants to pursue? Make sure the options are available.
  • Post-Graduate Opportunities: It’s much easier to get into grad school at the university where you receive your bachelor’s. If your child is on a path that requires this kind of education, see if this added criteria helps make a choice of where to apply.

Ultimately, it’s imperative to give students the latitude to make their own decisions based entirely on their qualifications for college rather than on any other factor. Everything else can be figured out. Remember, where there’s a will, there’s a way.

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About the Author

Ryan Hickey is the Managing Editor of Petersons and EssayEdge and is an expert in many aspects of college, graduate, and professional admissions. A graduate of Yale University, Ryan has worked in various admissions capacities for nearly a decade, including writing test-prep material for the SAT, AP exams, and TOEFL, editing essays and personal statements, and consulting directly with applicants.

College Prep: A Podcast Interview with Prepped and Polished

 

 

college prep

A few weeks ago, Alexis Avila from Prepped and Polished interviewed me on his podcast about college prep. The jest of the interview: how did you get involved helping parents with college prep? Of course, this is my favorite topic.

Alexis and I talked about college prep and the obstacles I faced. We discussed what I learned along the way and the mistakes we made. You will learn about my “Ah ha” moments. And also how I started helping parents along with what parents need to know to be an effective college coach.

Take 15 minutes out of your day and listen to the interview. Have questions? Feel free to email me at suzannemshaffer@gmail.com.

Need MORE expert advice, check out my posts here:

50 College Info Websites

50 More College Info Websites

College Prep Resources

Here are the experts I recommended along with Alexis’ podcast links (apart from test prep recommending Prepped and Polished):

Financial Aid: Jodi Okun and my podcast with Jodi Okun

College Visits: Kelly Queijo and my podcast with Kelly Queijo

College Planning: Paul Hemphill

College Essays: College Essay Guy 

Check out the interview with interview notes and links:
The Prepped and Polished Podcast-Parents Countdown to College

10 Tips to Help Cut College Costs

 

cut college costs

During these tough economic times, everyone is finding ways to cut costs. Pinching pennies and forgoing that latte can add up, but what about paying less for those college expenses: tuition, room and board, books, and meals. Until our economy picks up and catches up with the rising cost of tuition, parents and students need to find creative ways to cut college costs. These ten tips might help you keep a little more money in your pocket and graduate with little or no debt.

1.Consider private college

Some people believe that if you forgo the high-priced private universities, you can save some bucks. But is that really the case? The simple truth is that many private colleges give great financial aid in the form of grants and scholarships. They can do this because of their generous alumni who reinvest in their alma maters. Many times, you could end up paying less at an expensive private university than you would at a local state college.

2. Choose EA or regular decision

If you apply early decision, letting colleges know that they are your first choice college, you lose your bargaining power. That bargaining power can mean huge dividends when it comes to financial aid. If your teen is accepted to several colleges and each offers them some grants and/or scholarships, you can use those offers to negotiate more aid with the college of your choice. Early decision robs you of that negotiation.

3. Take Dual Credit and/or AP Classes

If you take dual credit classes during high school, you can get college credit at the same time you receive high school credit. In many cases, you can get enough credit to enter college as a sophomore. Additionally, if you take AP classes, be sure to take the AP tests which many colleges count as credit if you test well. By choosing either option, you can save on the cost of tuition. For more information on how this works, you can order or download a free copy of the National Center for Education Statistics’ publication: Dual Credit and Exam Based Courses.

4. Work during college

Studies show that working during college helps you with time management and organization. If you work while you’re in college you can use that money for textbooks, living expenses, and even put some it toward tuition expense. It makes better sense to work than borrow and pile up your student loan debt.

5. Don’t buy new textbooks

With all the websites offering textbook options, think before you plunk down top dollar for those new textbooks. Consider buying used, renting, or even downloading e-textbooks. All these options will save you hundreds of dollars every semester. Barnes and Noble has made this easy by providing a link where you can search for new, used, rentals and e-textbooks all in one location.

6. Live at home or become an RA (Resident Assistant)

Room and board can be a huge portion of your college expense. One option is to live at home if the college is within driving distance. If you aren’t interested in living at home, here’s another option: apply to become an RA (Resident Assistant). Some colleges allow RA’s to live rent free (which means a huge cost saving on room and board). Others give substantial discounts.

7. Use your student ID card for discounts

That student ID is useful for more than just getting into your college dorm. Use it everywhere for substantial discounts at restaurants, on clothing, on books and even groceries. Ask local businesses if they honor the student ID if you don’t see a sign at the cash register or drive-thru.

8. Consider community college

Community college is considerably cheaper and can offer you an opportunity to get some of your core subjects out of the way. The difference between $3000 for a college credit at a university and $300 a credit at a community college can add up to substantial savings. Don’t forget to check with your college first and make sure they will accept credits from the community college.

9. Take a look at your meal plan

Most students don’t need the full meal plan (3 meals a day). If you knock your meal plan down to the minimal one meal a day you can save thousands of dollars per semester. Most college students roll out of bed in the morning, grab a red bull or coffee, snack during the day and often order out late at night. Why pay for three meals a day when you don’t eat them?

10.Graduate in three years

Imagine the money you can save if you graduate in three years instead of the 4-6 years required by most college students. How is that done? First, if you were wise and took those dual credit or AP classes it’s possible to chalk up 12-15 credit hours before you ever set foot on campus. For some excellent tips on why and how to graduate in three years, check out this amazing post by a guy who advises parents on how to pay less for college: How to Graduate in 3 Years! The economy has forced all of us to tighten those belts and eliminate wasteful spending. These 10 tips can potentially save you hundreds and even thousands of dollars on college costs.

3 College Connections You Need to Make

 

 

college connections

If you are considering college, or headed off to college in the fall, you should make friends with these people on campus: admissions counselors, financial aid officers, and current students. Why? Because these three groups of college connections can help you with all the aspects of navigating the college maze:

1. Admissions counselors

It’s not secret that making friends with the admissions department can go a long way in securing your eventual acceptance. Admission officers keep track of how often you visit their campus, contact them regarding information, and express an interest in their institution. If you application is marginal, contact with an admissions officer could give you that extra push needed for acceptance. Schedule an interview when you visit campus, secure a business
card with contact information, and follow up after the visit. Recognizing your name when those thousands of applications arrive can help get your application on the top of the pile.

2. Financial aid officers

These helpful people can provide you with the information you need to know about financing your college education. Ask them questions about the total cost of college. This not only includes tuition, room and board, but additional costs incurred to attend. Once you have applied, you might also need to clarify some financial information related to the FAFSA, write an appeal letter for additional aid, or contact them about your aid disbursements. Schedule an appointment when you visit campus, secure a business card, and file it for future reference when/if you need a contact in that office.

3. Current students

Students who are currently attending college (specifically the one you are interested in attending) can be a valuable resource for information. You can connect with them on your campus visit, follow them on Twitter, and find them on the college’s Facebook page. Do some navigating on the college website for bloggers and for individual sites that are set up through the college itself. Connecting with students will help you get a feel for the type of student who is attending, and can help you once you are accepted by answering questions related to moving in, getting settled, and making that transition on campus. Networking is just as important in college as it is in the job world. Making those essential connections will ease the college application process and simplify the transition to college once you are accepted.