In the last post I discussed resources where information about financial aid could be found for free. The federal website, www.college.gov, cautions against scholarship search scams and other fee based services. There are, however, reputable companies that charge for these services. Many families find reassurance in hiring someone to do the "legwork" for them. Indeed, many families pay an accountant to help them file the FAFSA.
Recently, Prudential Financial sent emails to their customers advertising a service from StudentAid.com. They offer a personalized College Cost and Planning Report for a nominal fee ($89). The report assesses the family's ability to pay for up to 10 colleges of the student's choice. Most of the information included in the report, such as estimated federal and state aid amounts, college profiles, etc., can be found for free as readers of this blog well know.
In "5 Weird Ways to Pay for College", www.smartmoney.com, 3-22-11, Jilian Mincer writes that, "...many cash-strapped states are capping grants and raising eligibility for student aid - a trend expected to continue as they shift more of the costs of college to students and their families." According to the College Board, the average cost of a private college in 2010 was $37,000 a year which included room and board. I find it an astonishing coincidence that according to Mark Whitehouse in the Wall Street Journal weekend edition of May 7-8, 2011, "average starting salaries for four year college graduates are less than $37,00." (The exact same figure!) It doesn't seem likely that in this economic climate starting salaries will surpass college costs anytime soon.
Wednesday, January 18, 2012
Wednesday, January 4, 2012
Show Me the Money!
"If you don't know where you're going, you might end up some place else."
Lawrence Peter Berra (AKA - Yogi)
By now seniors should have some idea of what their plans are after high school. Optimally, applications should have been sent and efforts now should be focused on finding the money to fulfill your goals. You should have made alternate choices for reach and safety schools, not just academically, but also financially. The letter most anxiously awaited after the one from the admissions office is the one from the office of financial aid. We'll be discussing different sources of aid in the next few posts. FAFSA forms are currently available in high school guidance offices. All schools from whom you wish to receive aid will require this form to be filed before they will offer a financial aid package. The sooner you can send in a complete and accurate form the better, as schools award monies available as they receive requests from eligible accepted students.
There is an excellent resource to help you estimate your financial aid needs and determine your Expected Family Contribution (EFC). FinAid, the Smart Student Guide to Financial Aid, provides an explanation of the methodology colleges use to determine a student's financial aid and an EFC calculator. The website is: http://www.finaid.org/calculators/finaidestimate.phtml
On the www.college.gov site I first blogged about in 2010, there is a section titled, "How to Pay". There is also a portal to completing the FAFSA online. A simple and brief explanation of the financial aid process is provided as well. Links are available to federal and state scholarship searches. On the Federal Student Aid site there is also a "Student Aid on the Web's Financial Aid Wizard" which takes you through the process in "8 easy steps". "State Higher Education Agency Listings" on www.college.gov provides links to each state's Higher Education Agency sites. These agencies provide information on programs specific to each state. Under the "How to Pay" tab there is a "be money smart" heading. It includes tips on how to avoid fee based scholarship scams and where to find more FREE sources of financial aid assistance.
The financial aid process may seem daunting but all the information is within easy reach. With some effort and perseverance, you may be able to find the money you need so you won't "end up some place else".
Lawrence Peter Berra (AKA - Yogi)
By now seniors should have some idea of what their plans are after high school. Optimally, applications should have been sent and efforts now should be focused on finding the money to fulfill your goals. You should have made alternate choices for reach and safety schools, not just academically, but also financially. The letter most anxiously awaited after the one from the admissions office is the one from the office of financial aid. We'll be discussing different sources of aid in the next few posts. FAFSA forms are currently available in high school guidance offices. All schools from whom you wish to receive aid will require this form to be filed before they will offer a financial aid package. The sooner you can send in a complete and accurate form the better, as schools award monies available as they receive requests from eligible accepted students.
There is an excellent resource to help you estimate your financial aid needs and determine your Expected Family Contribution (EFC). FinAid, the Smart Student Guide to Financial Aid, provides an explanation of the methodology colleges use to determine a student's financial aid and an EFC calculator. The website is: http://www.finaid.org/calculators/finaidestimate.phtml
On the www.college.gov site I first blogged about in 2010, there is a section titled, "How to Pay". There is also a portal to completing the FAFSA online. A simple and brief explanation of the financial aid process is provided as well. Links are available to federal and state scholarship searches. On the Federal Student Aid site there is also a "Student Aid on the Web's Financial Aid Wizard" which takes you through the process in "8 easy steps". "State Higher Education Agency Listings" on www.college.gov provides links to each state's Higher Education Agency sites. These agencies provide information on programs specific to each state. Under the "How to Pay" tab there is a "be money smart" heading. It includes tips on how to avoid fee based scholarship scams and where to find more FREE sources of financial aid assistance.
The financial aid process may seem daunting but all the information is within easy reach. With some effort and perseverance, you may be able to find the money you need so you won't "end up some place else".
Wednesday, November 23, 2011
Earn While Your Learn
In the last post I discussed ways to find out more about preparing for a career through an apprenticeship program. What if your chosen field requires at least a four year degree and you need financial aid options? There are many sources that I will review in the first weeks of 2012. The option I would like to focus on in this post is Cooperative Education.
Cooperative Education, or Co-op, aims to integrate academic learning and practical work experience. In one Co-op model, the student alternates a semester of classes followed by a semester of paid employment. In a good Co-op program, a student not only earns money to pay for college costs, but gains invaluable work experience which can put them at the top of a prospective employer's list. Way back in the 90's I went to a conference where an executive from Prudential stated that his company considered participation in a Co-op program as a definite resume enhancer. Prudential actively sought employees from the pool of graduates who had that work experience as undergraduates.
The World Association of Cooperative Education has its headquarters at the University of Massachusetts at Lowell. Its membership includes national and international member institutions. Their website is www.waceinc.org. The National Commission of Cooperative Education (www.co-op.edu) and The Journal of Cooperative Education (www.ceiainc.org) are also good resources.
You can also go to an individual college/university website to find out about its program. Drexel University (www.drexel.edu), located in Philadelphia, Pennsylvania, is reputed to have an excellent co-op program and a link to it is prominent in a tab on their homepage. I wanted to highlight another institution which also has a good co-op program. Wentworth Institute of Technology in Boston is notable as a four year institution which awards degrees in many applied areas such as engineering and construction trades. It's worth investigating as well.
In the beginning of this post, I mentioned future discussions in 2012. What happened to the next five weeks of 2011? The Holidays! I hope you have happy ones and will resume blogging on Wednesday, January 4, 2012!
P.S. Speaking of the holidays, some gift ideas for the serious student on your list include books discussed in previous posts. A few are featured here:
Cooperative Education, or Co-op, aims to integrate academic learning and practical work experience. In one Co-op model, the student alternates a semester of classes followed by a semester of paid employment. In a good Co-op program, a student not only earns money to pay for college costs, but gains invaluable work experience which can put them at the top of a prospective employer's list. Way back in the 90's I went to a conference where an executive from Prudential stated that his company considered participation in a Co-op program as a definite resume enhancer. Prudential actively sought employees from the pool of graduates who had that work experience as undergraduates.
The World Association of Cooperative Education has its headquarters at the University of Massachusetts at Lowell. Its membership includes national and international member institutions. Their website is www.waceinc.org. The National Commission of Cooperative Education (www.co-op.edu) and The Journal of Cooperative Education (www.ceiainc.org) are also good resources.
You can also go to an individual college/university website to find out about its program. Drexel University (www.drexel.edu), located in Philadelphia, Pennsylvania, is reputed to have an excellent co-op program and a link to it is prominent in a tab on their homepage. I wanted to highlight another institution which also has a good co-op program. Wentworth Institute of Technology in Boston is notable as a four year institution which awards degrees in many applied areas such as engineering and construction trades. It's worth investigating as well.
In the beginning of this post, I mentioned future discussions in 2012. What happened to the next five weeks of 2011? The Holidays! I hope you have happy ones and will resume blogging on Wednesday, January 4, 2012!
P.S. Speaking of the holidays, some gift ideas for the serious student on your list include books discussed in previous posts. A few are featured here:
Wednesday, November 9, 2011
On the Job
This post was to be published on November 2. Due to our unexpected snowstorm and a 74 hour power outage!!!!, I had to postpone publication until this week. I apologize to those who may have signed on only to be disappointed. I will resume my bi-weekly schedule starting today. The next post will be on Wednesday, November 23.
In this very difficult economy (an understatement at best), many young people who have spent four or more years to earn a costly degree find themselves at a loss for a job. We hear that word so much, job market, job growth, etc. Unfortunately, we mostly hear about how many graduates don't have them!
In my post way back on September 8, 2010, I discussed what I call the "Scarecrow Syndrome" and the reasons why young people may decide to go to college. It's worth a read, if you haven't done so already. I know that there are many studies and even TV commercials that tout how much more money you can make with a college degree. (Although, in this bad economy, who knows if that "conventional wisdom" even holds true?) To what end, especially if you can't find a job and your heart, your passion, wasn't really in your studies to begin with.
A route to fulfilling and well paid employment seems, woefully, to have gone out of vogue - apprenticeships. We are not talking Dickensian England here! As Wikipedia defines them, apprenticeships are systems of "training a new generation of practitioners of a skill..Most of their training is done while working for an employer who helps the apprentices learn their trade in exchange for their continuing labour for an agreed period after they become skilled. Theoretical education may also be involved, informally via the workplace and/or by attending vocational schools while still being paid by the employer." (emphasis added)
The United States Department of Labor has an Office of Apprenticeship. Their site, www.doleta.gov/oa, gives information about registered apprenticeship programs in 1,000 career areas including chef, child care, dental assistant, electrician and many others. The site is certainly worth investigation, as is the idea of an apprenticeship for those interested in more applied training and careers.
In this very difficult economy (an understatement at best), many young people who have spent four or more years to earn a costly degree find themselves at a loss for a job. We hear that word so much, job market, job growth, etc. Unfortunately, we mostly hear about how many graduates don't have them!
In my post way back on September 8, 2010, I discussed what I call the "Scarecrow Syndrome" and the reasons why young people may decide to go to college. It's worth a read, if you haven't done so already. I know that there are many studies and even TV commercials that tout how much more money you can make with a college degree. (Although, in this bad economy, who knows if that "conventional wisdom" even holds true?) To what end, especially if you can't find a job and your heart, your passion, wasn't really in your studies to begin with.
A route to fulfilling and well paid employment seems, woefully, to have gone out of vogue - apprenticeships. We are not talking Dickensian England here! As Wikipedia defines them, apprenticeships are systems of "training a new generation of practitioners of a skill..Most of their training is done while working for an employer who helps the apprentices learn their trade in exchange for their continuing labour for an agreed period after they become skilled. Theoretical education may also be involved, informally via the workplace and/or by attending vocational schools while still being paid by the employer." (emphasis added)
The United States Department of Labor has an Office of Apprenticeship. Their site, www.doleta.gov/oa, gives information about registered apprenticeship programs in 1,000 career areas including chef, child care, dental assistant, electrician and many others. The site is certainly worth investigation, as is the idea of an apprenticeship for those interested in more applied training and careers.
Wednesday, October 19, 2011
Declaring a Major, Early Action and Early Decision
Before I get into discussing financial aid options, there are two areas that I feel I need to address in this post to help seniors finalize their applications. Yes, "finalize".
When asked on a college application or the Common Application for a chosen major, many students do not know what to answer. The question becomes will choosing "Undecided" as your answer hurt your chances of admission? Some competitive colleges, such as New York University, are reputed to give an edge to applicants who are passionate about their chosen field of study. Declaring "undecided" does not connote passion. However, many students do not actually declare a major until their third or fourth semester sophomore year. Unless your chosen field is highly specialized, waiting may not alter your post declaration study schedule too drastically. For an informative discussion of this topic by professional college counselors and college administration professionals, go to www.unigoexpertnetwork/question9
.
Seniors also are unsure as to whether to apply for Early Decision or Early Action. The College Board states, "Early decision and early action allow you to apply early (usually in November) and get an admission decision from the college well before the usual spring notification date. You know by December or January whether you've been accepted at your first choice college." According to the Princeton Review's, The Best 373 Colleges, "Many selective colleges commit more than half of their admission spots to early decision applicants." Remember, early Decision Does bind. If accepted to the college, you must withdraw your applications to all other colleges. As the Review notes, this may make negotiating a financial aid offer difficult - more on that in a later post. Early action does not bind the applicant and you will still be notified of your status in December or January. Further information can be found at www.collegeboard.org.
When asked on a college application or the Common Application for a chosen major, many students do not know what to answer. The question becomes will choosing "Undecided" as your answer hurt your chances of admission? Some competitive colleges, such as New York University, are reputed to give an edge to applicants who are passionate about their chosen field of study. Declaring "undecided" does not connote passion. However, many students do not actually declare a major until their third or fourth semester sophomore year. Unless your chosen field is highly specialized, waiting may not alter your post declaration study schedule too drastically. For an informative discussion of this topic by professional college counselors and college administration professionals, go to www.unigoexpertnetwork/question9
.
Seniors also are unsure as to whether to apply for Early Decision or Early Action. The College Board states, "Early decision and early action allow you to apply early (usually in November) and get an admission decision from the college well before the usual spring notification date. You know by December or January whether you've been accepted at your first choice college." According to the Princeton Review's, The Best 373 Colleges, "Many selective colleges commit more than half of their admission spots to early decision applicants." Remember, early Decision Does bind. If accepted to the college, you must withdraw your applications to all other colleges. As the Review notes, this may make negotiating a financial aid offer difficult - more on that in a later post. Early action does not bind the applicant and you will still be notified of your status in December or January. Further information can be found at www.collegeboard.org.
Wednesday, October 5, 2011
Up to Speed - Review of Posts from January-June 2011
This post will also include some of the websites and books referred to.
January 8, 2011
Discussion of how students should use their PSAT results and prepare for the SAT. Websites of interest - www.collegeboard.org, www.grockit.com. SAT study guides are available at www.amazon.com.
January 19, 2011
Discussion of how to use www.collegeboard.org
January 26, 2011
Discussion of whether to choose a two or four year program
February 2, 2011
Information on NJ Boys and Girls State Programs www.boysandgirlsstate.org
February 16, 2011
Discussion of features of www.unigo.com, specifically College Match
March 2, 2011
Choosing a College, continued. The book, The Best 373 Colleges,
is featured.
March 16, 2011
Discussion of "feeder schools", undergraduate schools from which many graduate programs accept students
March 30, 2011
Virtual campus tours, college rep visits and college fairs www.campustour.com
April 13, 2011
College admission and the Naviance guidance delivery system www.naviance.com
April 27, 2011
Suggestions for how to get the most out of a campus visit
College Visit Checklist available at www.unigo.com
May 11, 2011
Campus Safety www.neighborhoodscout.com
May 25, 2011
Intellectual freedom on campus www.theFIRE.org
Closing of the American Mind
June 8, 2011
What juniors should do during summer vacation to prepare for senior year. Good review for those who need to catch up!
June 22, 2011
Writing the college application essay www.commonap.org, www.englishclub.com
January 8, 2011
Discussion of how students should use their PSAT results and prepare for the SAT. Websites of interest - www.collegeboard.org, www.grockit.com. SAT study guides are available at www.amazon.com.
January 19, 2011
Discussion of how to use www.collegeboard.org
January 26, 2011
Discussion of whether to choose a two or four year program
February 2, 2011
Information on NJ Boys and Girls State Programs www.boysandgirlsstate.org
February 16, 2011
Discussion of features of www.unigo.com, specifically College Match
March 2, 2011
Choosing a College, continued. The book, The Best 373 Colleges,
is featured.
March 16, 2011
Discussion of "feeder schools", undergraduate schools from which many graduate programs accept students
March 30, 2011
Virtual campus tours, college rep visits and college fairs www.campustour.com
April 13, 2011
College admission and the Naviance guidance delivery system www.naviance.com
April 27, 2011
Suggestions for how to get the most out of a campus visit
College Visit Checklist available at www.unigo.com
May 11, 2011
Campus Safety www.neighborhoodscout.com
May 25, 2011
Intellectual freedom on campus www.theFIRE.org
Closing of the American Mind
June 8, 2011
What juniors should do during summer vacation to prepare for senior year. Good review for those who need to catch up!
June 22, 2011
Writing the college application essay www.commonap.org, www.englishclub.com
Wednesday, September 21, 2011
Welcome Back
It's already September! The school year never seems to pass as quickly as the months of July and August. For those students who are entering senior year, this may be the first school year where this is not the case. There's a lot to do and many decisions to be made. For those who have followed my blog this past year and have acted on the suggestions given, this year will be much less difficult. For those who have not, review the archives and try to get up to speed.
Seniors who are planning to go to college after graduation should be at the point of finishing up their applications. If you would like another shot at the SAT, be aware of the deadlines for registration which can be found at www.collegeboard.org. Juniors should be aware of their school's process to register for the Preliminary Scholastic Aptitude Test (PSAT) which will be given in October. More information about this test can be found at The College Board site as well.
In the 38 posts I've written since August 2010, I have detailed a process by which high school students can make some important decisions for plans after graduation. Therefore, I plan to spend subsequent posts reviewing special programs and sites in addition to refining the process as relevant topics come up.
For those who are new to this blog, I will outline the subjects of the posts since January 2011 on Wednesday, October 5. For descriptions of the websites and posts that preceded that, see the archives and the website review I posted on December 14, 2010.
Seniors: Don't get overwhelmed - JUST GET BUSY!
Seniors who are planning to go to college after graduation should be at the point of finishing up their applications. If you would like another shot at the SAT, be aware of the deadlines for registration which can be found at www.collegeboard.org. Juniors should be aware of their school's process to register for the Preliminary Scholastic Aptitude Test (PSAT) which will be given in October. More information about this test can be found at The College Board site as well.
In the 38 posts I've written since August 2010, I have detailed a process by which high school students can make some important decisions for plans after graduation. Therefore, I plan to spend subsequent posts reviewing special programs and sites in addition to refining the process as relevant topics come up.
For those who are new to this blog, I will outline the subjects of the posts since January 2011 on Wednesday, October 5. For descriptions of the websites and posts that preceded that, see the archives and the website review I posted on December 14, 2010.
Seniors: Don't get overwhelmed - JUST GET BUSY!
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