Top Ten Financial Aid Tips for Parents

Looking for financial aid to help foot the tuition bill? Follow these 10 tips to help you secure the funding help you need and remember - don’t wait until your child’s senior year to start thinking about financial aid. The sooner you start, the more money you may be able to find.

1. Get an early idea of your EFC
Estimate your Expected Family Contribution (EFC) during your child’s junior year. By getting an idea of what you might pay, you can find colleges within your price range and identify what you might need in scholarships and loans to manage your tuition costs.

2. Reduce your child’s savings
An entire 20 percent of your child’s assets are considered available for college, as opposed to just 5.6 percent of yours. Encourage your child to save, but keep college funds in a custodial account.

3. Learn a little about marketing
This is one of the most important aspects of competing for merit-based awards. Highlight your child’s accomplishments and an award committee will be that much more likely to consider giving a scholarship to your son or daughter.

4. Make financial aid a part of your campus visits
Ask to speak with someone in the financial aid office - it’s the best way to get your family on the radar for campus-based awards. Afterwards, take some notes! These contacts could come in handy later.

5. Do a bit of detective work
Determine if your child’s application for aid affects the probability of admittance. If so, find out how.

6. Make a decision on early decision
If your child is thinking of applying Early Decision or Early Action, determine how it will affect your chances for aid. Early Decision acceptance may prevent you from comparing awards, because your child will have to commit to the school before you see the aid offers from other applications. (This is not a factor if your child is accepted under an Early Action or Single-Choice Early Action application, as these are non-binding offers.)

7. Determine the effect of outside awards
If your child receives an outside scholarship, find out how it will affect your financial aid award. Some schools will lessen grant aid, and others will pare down on loans. The school’s policy will affect the amount you’ll have to borrow.

8. Pay attention to deadlines
The sooner your child files his or her college applications, the better your chances of receiving aid. To assist with financial aid forms, file your taxes as early in the year as possible. Keep in mind that if you are applying to schools that require the PROFILE financial aid application, it may have an earlier deadline than the FAFSA.

9. Complete the FAFSA
Fill out this form, even if you think you won’t qualify - very affluent families sometimes qualify for aid at certain high-tuition schools. This single application is your gateway to all federal loan, grant, and work-study awards that total in the billions of dollars.

10. Make your college aware of special circumstances
If you have lost your job since completing the FAFSA or PROFILE, inform schools about your situation. Most have standard policies that allow for the use of projected income, which could increase financial assistance.

- Peterson’s College Planner

10

03 2010

Test Scores Do Not Equal Merit

Over 815 four-year colleges and universities across the U.S., acting on the belief that “test scores do not equal merit,” do not use the SAT or ACT to make admissions decisions about a substantial number of their incoming freshmen classes. These institutions range widely in size and mission.

  • Schools that have made standardized tests optional for admissions are widely pleased with the results. Many report their applicant pools and enrolled classes have become more diverse without any loss in academic quality. “Test score optional” policies promote both equity and excellence.
  • Colleges and universities that have moved away from using standardized tests to make admissions decisions have done so for a variety of reasons, but all have concerns about the impact of overreliance on the tests. Some public universities have acted to deemphasize the SAT and ACT in the face of restrictions on affirmative action; a few are developing more flexible approaches to admissions in response to changes in the K-12 sector; many have found high school classroom performance to be a markedly superior way of forecasting academic success in college.
  • Lessons learned at the wide range of “test score-optional” schools can be applied to many other institutions. These lessons include:
    - Dropping tests leads to greater diversity because the focus on test scores deters otherwise qualified minority, low-income, first-generation, female and other students from applying
    - Deemphasizing tests attracts more students who are academically capable
    - High school performance — expressed either as grades or class rank — is the best available screening device for applicants
  • Institutions that still require ACT or SAT scores should review the experiences of schools that have deemphasized the tests or explicitly made them optional in the admissions process. Colleges and universities should examine their own experiences with tests and ask these questions:
    - Do the tests really have predictive validity at this institution?
    - Does that validity hold for all ethnic, age, and income groups as well as for both men and women?
    - Do the tests add anything significant to what admissions officers already know about applicants?
    - Are test score requirements deterring potential applicants who would make suitable students?

Taken from Fairtest.org – To view the list of schools that have deemphasized standardized test scores, CLICK HERE.

08

03 2010

Tuition Free Colleges

During difficult economic times, the cost of higher education leaves many students wondering if they can afford to go to college. For those who want to avoid being saddled with huge loans, the U.S. government offers one of the best deals around: Enroll at one of the five service academies tuition-free and receive free room and board. (And you thought the Grand Slam promotion at Denny’s was cool.) But if military service isn’t for you, here are eight other schools that offer tuition-free educations:  CLICK HERE for the rest of the story.

04

03 2010

Storytelling

Stories make you memorable.  Whether you are applying for a job and you have an interview, or you are writing an essay for college admissions, the stories that you tell will make you memorable.

Why do stories matter?  Stories engage the audience.  You get to invite the listener into your world for the briefest of moments.  For that moment, you get to share with the listener the basic of all needs; you engage the listeners to become part of your community.  Stories are enjoyable, fun, passionate, and they resonate with the audience.  Seriously, who doesn’t like a good story? Stories help to establish your identity and reveal your personality.  Stories will help you build confidence.  Stories establish trust with the listener.  Stories help you to stand out and to paint a vivid picture as to what you bring to the table.  Stories demonstrate your communication skills.

Learn the art of storytelling.  Use it to your advantage.  Make yourself noticeable and memorable.

02

03 2010

Role Models

Take a sheet of paper and turn it so that the long edge is horizontal.  Fold the sheet in half, crease it, and then fold it in half again.  You should have four columns of equal width.

At the top of the first column (starting at the left), write “Names of people I admire.”  Under that heading, make a list of people you admire.  These can be real people you know or have known, historical figures, or fictional characters from books, movies, or TV.

At the top of the second column, write “What I admire about them or their lives.”  Think about each person in the first column, and write down what it is that you admire about them.

At the top of the third column, write “Do I have this trait?”  Read over the traits you’ve written for each of the people you admire.  Ask yourself, “Do I have this trait?  Do I want to have this trait?”  Write your answers in the third column.

At the top of the last column, write “How can I develop this trait?”  Answer this question for each trait or attribute you’d like to develop or strengthen.

Reflecting on the traits you value – those that you admire most in people you consider to be your role models – can help you cultivate those traits in your own life.

01

03 2010

Factors in the Admission Decision

Factors in the Admission Decision
The factors that admission officers use to evaluate applications have remained largely consistent over the past 15 years.  Students’ academic achievements—which include grades, strength of curriculum and admission test scores—constitute the most important factors in the admission decision.

• Admission Offices Identify Grades, High School Curriculum and Test Scores as Top Factors: The top factors in the admission decision were (in order): grades in college preparatory courses, strength of curriculum, standardized admission test scores, and overall high school grade point average. Among the next most important factors were the
essay, teacher and counselor recommendations, class rank, and student’s demonstrated interest, which were all ranked similarly.
• Students’ Demonstrated Interest in Attending: For the past six years, NACAC’s (National Association of College Admisssions Counselors) Admission Trends Survey has documented colleges’ attention to applicants’ interest in attending their institutions as a factor in admission decisions. From 2003 to 2006, the percentage of colleges rating demonstrated interest as a considerably important factor increased from seven percent to 21 percent.  Since that time, the percentage has held steady at just over 20 percent.
• Student Background Information: Between 20 and 25 percent of colleges rated race/ethnicity, first-generation status and high school attended as at least moderately important as factors that influence how the main factors in admission decisions are evaluated.
• Why Colleges Revoke Admission Offers: During the Fall 2008 admission cycle, 21 percent of colleges reported that they had revoked an admission offer, compared to 35 percent in 2007.  The average number of offers that were revoked was ten. The most common reason that colleges indicated for rescinding admission offers was final grades (65 percent), followed by disciplinary issues (35 percent) and falsification of application information (29 percent).
• Verification of Applicant Information: It is rare for colleges to take extra steps to verify information that applicants provide on their applications or to search for information on applicants outside of the application. Only 15 colleges (five percent) responding to the Admission Trends Survey reported that they verify applicant essays. About eight percent of colleges reported that they review applicants’ social networking profiles.

24

02 2010

Wednesday, March 3rd – Dr. Bonnie Snyder

Dear Parents and Students,

Join us for a FREE seminar!

GETTINg REAL with life after high school

Sponsored by the Manheim Township Educational Foundation

Receive IMPORTANT information on:

  • Shocking college funding facts
  • College?  Technical school?  Licensing?  Careers?  Options for every student!
  • Qualifying for financial aid at all income levels

… And MORE!

Wednesday, March 3rd 2010 in Convocation Hall

6:30pm – Registration

7:00pm – Keynote Speaker

8:00pm – Q & A

PRE-REGISTRATION REQUIRED!

Click Here to Register Now and Reserve Your Spot!

Featuring Dr. Bonnie Snyder, Harvard graduate and Certified College Planning Specialist. Visit her website at www.collegestrategy.net to learn more about her work.

22

02 2010

Decisions

Decisions

Decisions

I found this picture today and I thought to myself, “How true.”  I think that it speaks to the gut feelings that we all have about the decisions that we have to make.  As you are comparing colleges or career paths and it seems that all things considered come out pretty even, maybe you should just flip a coin ; )

16

02 2010

College Guidance…Your perceptions, expectations, or questions?

In my best Linda Richmond (aka Mike Myers from SNL) impersonation, “Discuss”.

I want to know your thoughts.  When you think of college guidance what are your perceptions?  What are your expectations of college guidance or for the future of your children?  Do you have any questions that you have been waiting to ask?  I would like this post to be an open discussion.  Please feel free to post a comment so we can have an open dialogue.

08

02 2010

Seven Habits of Highly Effective Teens – Habit 2

Habit Two – Begin with the end in mind.

Imagine that, at the end of you life, you were able to listen in to what was being said at your funeral. What would you like to hear people say about you, as a mother or Father, a life partner, a colleague etc? Whatever it is you would like to hear, you are now in a position to start living the kind of life that will make it happen.

“Today, I will see the future.”

“What it lies in our power to do, it lies in our power not to do.” – Aristotle

05

02 2010