The Decision - How to Select the Proper College

Can you see yourself here?

May 1st is around the corner and that means high school seniors must send their housing deposit to the college of their choice. If a student fails to inform a school by this date, colleges will no longer guarantee their admission. Here are a few tips for a high school senior to make a proper decision on which college to attend.

Social Fit

As an 18 year old high school senior, it is hard to imagine making a decision that will impact the next four years of their life. The first step to make sure the school is the proper social fit. Having hopefully already visited campus, this on-campus experience should have provided the student enough knowledge to make an informed decision. But can the family envision the student on campus, participating in the activities in the quad, eating in the dining halls or sleeping in the dorms rooms? If they can, this is a good sign. If they cannot, perhaps a last minute follow-up visit to the campus might be in order.

Financial Fit

By now, the soon to be college freshman has received a plethora of acceptance letters and financial aid awards. Reexamine each of the acceptance letters and financial aid awards and ask yourself, “Can I afford to send my son/daughter to this school?” If the answer is a clear cut yes, then compare each of the school’s finances together. Think about the programs they offer and your likes/dislikes about each school to make a proper decision. Select the school that you feel is the best fit for your family.

If there is some hesitation in affordability, here are some things to consider regarding the college:

• How many loans will the student have to take out?
• What will the final amount of loans be when the student graduates in four years?
• Can my son/daughter receive the same quality education at a school that is not their first choice, but offering more in terms of financial aid?
• Is the scholarship they are receiving a one year scholarship or renewable for four years?
• What are the qualifications to be renewed?

These are important questions to discuss as a family this weekend, remember May 1st is next week!

Eliminate Friends From Decision

You can meet new friends at school, 

such as the Colgate Raider!

Many high school seniors are afraid to leave their comfort zone. Many adults are like this too; it is only natural. Making their college decision based upon where their friends will be attending is not a recommended way to make a decision. With Facebook, Twitter, text messaging, Skype/Facetime and email (snail mail to teenagers) students will easily be able to keep in touch. This is a great time for students to learn to think for themselves, be an individual and make an adult decision. They should choose the college that best fits themselves academically, socially and financially; not those of their friends. Young adults are resilient, they will be able to find their routine by keeping in touch with their high school friends while also making a campus full of new ones.


Post a comment regarding your college acceptance experience! If you have questions regarding the college process, contact us.

4 Tips to Maximize Your College Visit

Spring break and summer travel plans are on the minds of many families. Why not add a college visit into your itinerary? College visits are an integral part of the college process. They allow families to learn more about a particular college while also showing 'demonstrated interest.' 

Contact the Admissions Office

Contact the admissions office a few weeks prior to your arrival. This will not only confirm the office is open that day, but it provides campus visit options to maximize your experience. Various options might include an interview with an admissions representative, sitting in on a class, talking to a specific academic department/program or having a personalized tour based upon your interests. Some schools will even provide a complimentary meal in the cafeteria and/or help to defray some of the travel expenses if they know you are coming.

Every attempt should be made to visit a school if they are within a few hours of your home. Schools expect you take that extra effort to visit their campus.

See The Negatives

This may be the most difficult aspect of the college search, especially if there is an infatuation with the school. When on campus, it is important to recognize the negatives regarding a potential school. Tour guide will always highlight the positive aspects of their campuses, but will they show you the negatives? It is better to recognize the things you may not enjoy about the campus while on a tour, rather than once your student is enrolled.

Ask Questions

Make sure to ask thought provoking questions that will elicit an honest response. Most people will speak freely about the school, campus and students. Admission's representatives understand that not everyone is the proper fit for their campus. The tour guide is a great source of knowledge. They can discuss why they choose that particular college, the type of students on campus, programs, extracurricular activities and even the things they would like to change about the school.

Write Down Information

Bring a notebook to write down information regarding your visit. After touring multiple schools, inevitably each campus will blend together. Your notes will help differentiate campuses when it comes time to apply or accept an offer of admission.  

Before going on any visit, generate a list of needs/wants in a school. Then compare this list with the information you had written down regarding what you learned. Make a list and keep a log of those aspects at each campus. Do not forget to snap photos on your cell phone or tablet!

Lastly, do not forget to have your student write 'thank you' notes to all the people they met.  

Tom Jaworski has toured nearly 150 college campuses. To learn if he has visited your school of interest, or anything else college, contact him. 

Making the Most of Your College Fair Visit

The first step of the college search is to navigate rows upon rows of colleges at a large fair.  Here, admissions representatives from across the country gather in one place to promote their schools. Time your time, speak to as many schools as possible and collect brochures.

Preparation Meets Opportunity

If you can receive an advanced list of attending colleges, game planning will be easier. Highlight the schools of interest, then conduct some research. Arrive early and be prepared to 'attack' these schools. The lines will progressively get longer as the night wears on, so speaking to the representatives in the beginning will maximize your time. 'Practice' with a non-target school to learn what admissions representatives are discussing, promoting and asking. This will provide an idea of the 'lingo,' ultimately preparing you for your target colleges.

Ask Questions

As suggested, conduct some research. Hopefully you have written down notes and highlighted areas to further discuss, such as "tell me more about your Co-Op Engineering program" or "what kind of research opportunities are there for freshmen?" Do not ask basic questions that can be found in brochures or online. You may only have a minute to talk because of the crowd, so make it worthwhile. Ask specific questions about programs, opportunities or curriculum and put these answers next to your researched notes. Do not be shy, this is your opportunity to find out if you are a fit for this college.

Demonstrated Interest

Most colleges log the amount of contact you will have with them. This exchange can be a request for information, college fair visit or a campus visits. Thus provide your information to colleges if they ask. Yes, you will receive stacks upon stacks of brochures and your email inbox will be cluttered. In the end, it may be worthwhile because colleges want to ensure they accept students who are generally interested in attending their school and not applying for the sake of applying. Colleges may not divulge this, but scholarships opportunities may be increased if the schools have known of your previous interest. Schools might boost your financial aid package to ensure you will accept their offer of admission. If colleges send an email, make sure to open it and occasionally click on a link, they are monitoring!

Follow Up

Going along with demonstrated interest, make sure to ask the admissions representative for a business card. In the next few days, send them an email thanking them for their time answering your questions, what you thought was interesting about their school and to keep you informed to upcoming campus or local events. Make  it short and sweet, but long and intelligent enough to make an impression.

One last bit of advice. If you cannot attend your local college fair, do not fret. You will most likely be welcome at other school's college fair.

If you would like to know more about visiting a college fair, contact us.

For a list of Chicagoland college fairs, click here.  

Decoding the Financial Aid Award Letter

As the deadline to submit the FAFSA to financial aid offices approaches, we wanted to discuss the financial aid you may receive. Listed below are four types of 'awards' typically found on a financial aid letter.

Scholarships

A scholarship is an award based upon student merit, meaning, students have accomplished something. This may include their high school academics, standardized test score (ACT/SAT) , or unique talent (athletic performance, performing or visual arts). Scholarships are awarded for various lengths, make sure to investigate their stipulations. Regardless the length, scholarships do not need to be repaid to the school.

Grants

These are similar to scholarships as they do not need to be repaid, but they are based upon 'financial need,' and the biggest reason to complete the FAFSA. These awards can be from the institution, federal or state government. There are 2 common federal grants:

• Pell Grant: Up to $5,775 (for 2015-16 school year) to students who demonstrate financial need. 
• Federal Supplemental Educational Opportunity Grant: In addition to the Pell Grant, this award is up to $4,000 for families that demonstrate exceptional financial need. 

Federal Work-Study

This program is designed for students to earn the awarded amount in an on-campus job. There are ample opportunities reserved for federal work-study students. Students cannot earn in excess of the amount offered on the award letter. Most common positions are working in the admissions office, school cafeteria or recreation center.

Loans

Many time, in the financial award letter, colleges will package in loans to help defray the remaining cost of attendance. The three types of main loans are:

• Direct Subsidized Loan: These are student loans awarded based upon financial need. They are given for a 10 year repayment period and accruing interest is paid by the Department of Education until 6 months after a student leaves school. The loan limit is $3,500 to $5,500, depending upon the year in school.
• Direct Unsubsidized Loan: These student loans are not based upon financial need. The borrower is responsible for all interest, which begins accruing immediately. The 10 year repayment period on this loan (including accrued interest) does not begin until a student leaves school. The amount awarded is up to $2000 a school year.  
• Direct PLUS Loan: This loan is for a student's parents or guardians. It is not based upon need and the borrower assumes all interest. The interest rate is slightly higher, but generally it will be lower than a private loan. The maximum amount borrowed is the cost of attendance, minus any financial aid received. 

Remember, when comparing financial aid award letters, do not compare the amount the school is awarding the student. Compare the financial commitment of the family between schools and the amount of loans the family will have to repay.

If you have questions regarding your family's financial aid award letter or how to prepare for the rising cost of college, contact us. 

America's College Promise

President Obama recently proposed two years of free community college tuition to all. This blog post will delve further into this proposal.

America's College Promise

America's College Promise proposes free tuition during the first two years of community college. Students would be eligible to receive up to $3800 a year for tuition and fees by maintaining  a minimum C+ average in high school, attending school at least part-time and making steady progress towards their degree.

At the State of the Union, President Obama stated "world-class education starts with
children, but that adults need training, too.... we also have to make sure that everybody has the opportunity to constantly train themselves for better jobs, better wages, better benefits."

Pros

President Obama wants to "make community college as universal as high school" This plan estimates help to over 9 million students, by granting two years of free college tuition at one of  1100 community colleges across the United States.

America's College Promise would boost college enrollment, especially among lower income students. In addition, with only one-third of all community college students obtaining a two year degree, this proposal incentivizes students to remain in college for at least two years.

This plan also addresses the student debt crisis by potentially eliminating the need for student loans for the first half of their college education. In addition, this proposal ensures community colleges offer credits that fully transfer to local public four-year universities. This, in itself, will ease the student debt crisis by guaranteeing courses that will transfer, allowing for graduation within four years.

Cons

The most obvious argument for dissenters of this proposal is the estimated cost of nearly $70 billion. The federal government would cover 75% of the costs, though not as a direct payment to students. This would be to states who agree to 'evidence-based institutional reform.' Each participating state would cover the remaining tuition costs.

Some critics argue this plan will benefit higher income families, rather than the intended lower income student population. For the neediest students, Pell grants (up to $5730 a year based upon annual income) already assists with tuition, transportation, and other associated costs of attendance. Thus, families who might already afford community college will now receive government assistance.

By proposing the idea of free community college, President Obama reminds us of his North Star 2020 campaign promise, "by 2020...the U.S. should be the best-educated country in the world" and create "a better-educated workforce...which is key to the nation’s ability to compete in the global economy."

Will America's College Promise pass in Congress? An argument can easily be made for either side. Continue to follow developments on our FaceBook page, or contact us for more information.

Common FAFSA Myths

Many colleges require families requesting financial aid to submit their FAFSA within the next few weeks. If you are unsure what FAFSA means, read a previous blog post. Now that you understand this financial aid form, let's discuss a few popular myths associated with the FAFSA.

MYTH #1: I need to file my taxes before submitting the FAFSA. 
•     False. A family can submit their FAFSA by providing a reasonable estimate of their 2014 income taxes. The United States Department of Education works with the Internal Revenue Service to help connect a family's FAFSA information with their tax return once submitted. The earlier the FAFSA is submitted, the sooner the financial aid packages will be sent by schools.

MYTH #2: Families that make too much money should not complete a FAFSA.
•     False. There is no income ceiling to prevent a family from qualifying for federal student aid. There are several factors that go into the financial aid report besides money. Information such as size of family and the number of children concurrently in college. According to Sallie Mae, the typical family earning more than $100,000 received $5,451 in grants and scholarships during the 2012 academic year. Also, the FAFSA is only for federal student aid. Colleges can and will give out their own aid, such as merit scholarships. Most schools will require a completed FAFSA in order to award this scholarship. The FAFSA is simply a starting point.

MYTH #3: Colleges only look at what is stated on the FAFSA, though my situation has changed.
•     False. The Estimated Family Contribution (EFC) is only a government recommendation. Parents are encouraged to contact the financial aid office at each college to appeal their financial aid package. This office can make adjustments if there have been changes to a family's income or assets. Examples of items that may not show up on the FAFSA; loss of a job, using savings to start a new business, medical bills and/or having another child.

MYTH #4: If both parents are divorced and remarried, all of the parents' information must be entered on the FAFSA.
•     False. The information that should be entered on the FAFSA is that of the parent the student has lived with more than 50% of the time within the last 12 months. In addition, if that parent is remarried, that step-parent's financial information MUST be included along with the student's tax information, if they filed an income tax. Unfortunately, the student cannot choose to enter the information of the parent/step-parent that makes the least amount of money to secure a lower EFC.

As you can see, all the myths were false. Do not believe everything you hear from people who have completed the FAFSA in the past. If you need correct answers to other college financial aid myths or perhaps have other college admission questions, Contact Us.

Make sure to visit our Facebook and Twitter pages for tips and advice.

2015-16 Free Application for Federal Student Aid (FAFSA)

January 1st was a very important date. Not only did it signal a new year, but it was the date the 2015-16 FAFSA was released. What is the FAFSA? It is the Free Application for Federal Student Aid. It is an annual form produced by the United States Department of Education used to determine a family's Expected Family Contribution (EFC) for college.

How Does It Work?

The FAFSA is a 103 question form used to determine a family's EFC for college. Financial information is imputed into a formula developed by the United States Department of Education to determine the EFC. The EFC is then forwarded to up to ten designated colleges to individually determine a student's financial aid package.

How Does a Family Complete the FAFSA?

The form can be accessed online beginning January 1st of each year and is submitted electronically. A family can opt to print a copy and send it via mail, but this will delay the process 2-4 weeks. The earlier the FAFSA is submitted, the quicker the information is received by each college. The longer a family waits to submit their FAFSA can lead to a college having less financial resources to award to a family.

What Information is Required?

To complete the FAFSA, families will use their completed 2014 IRS Form 1040 for both the parent(s) and the student. Many of the questions ask about specific 'lines' on the tax form, such as adjusted gross income and balance of cash (savings and checking account). Other questions request information regarding a family's net worth (trust funds, stocks, bonds, certificate of deposits, etc...) and the number of children that will be attending college concurrently.

Important Tips

Complete whichever IRS Form 1040 as soon as possible. A parent can estimate their earnings when entering data on the FAFSA. It is imperative to return when taxes are complete to adjust and provide accurate figures. The quicker taxes are filed, the sooner an actual EFC will be calculated. The student will then be closer to the front of the line to receive maximum financial aid award from each college. Make sure not to rush when you are Entering in data. There are an average of 10 errors estimated per form. Remember, the form is free. One should not pay to access a FAFSA website.

In addition, keep as many assets out of the student's name as possible. This may not be possible if you have a senior in high school. But if you have a junior or younger, make sure to read this crucial information! Student earnings are weighted more heavily than parental assets (nearly 20 cents to the dollar). Why is this? The logic is that a student has saved money for college. Though this might not be the case. Make sure to legally change the location of your high school student's assets by their 2nd semester of junior year or 1st semester of senior year (the FAFSA uses the previous year's tax returns remember, not the year they begin attending college). A FAFSA must be submitted each year a student is looking for financial aid; from the first year in college, until the last year of their doctoral program.

If you have any questions or comments about the FAFSA, send us a question via Facebook or contact us.