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Sun Jun 15, 2008
Application Essays - They take time and they take thought
Because so much of the colleges’ and universities’ non-need based scholarship and grant money is administered by the admissions offices, your first impressions, made with your application and accompanying essays, becomes critical, not only in getting “in” but also in “buying in” to merit-based assistance.
Write an essay about yourself? Sounds like a fairly easy task, even when they impose some restrictions. You can’t merely summarize your life. You must focus on a person or experience that profoundly effected you or speak to personality traits that portray who you are. Getting tougher?
Marketing yourself is so much a part of the process that it can’t be emphasized enough and the essay is your golden opportunity to shine.
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Fri Jun 06, 2008
Early Decision/Early Action
Early decision and early action plans allow you to apply early (deadlines are usually in November) and get an admissions decision from the college well in advance of the usual spring notification date. You’ll know by December or January whether you've been accepted at your first-choice college. It thought that students who apply under these plans have a better chance of acceptance than they would through the regular admissions process. These plans are also serve the universities, because they gather students who really want to go to their institution to commit early.
There are differences between early decision and early action. The specific rules will vary somewhat by college so make sure you check it out.
Early decision plans are binding. If accepted, you agree to attend that college and work with the financial aid package they offer. While you can apply to only one university for early decision, you may apply to other schools through the regular admissions process. If accepted under the early decision process you must withdraw all your other applications.
Early action plans work like early decision plans but are not binding. If accepted, you can choose to commit to the college or wait until the spring. You may also apply early action to other colleges. Normally you have until the late spring to make a decision.
A new option is being offered by some schools called single-choice early action. Students may not apply early (either early action or early decision) to any other school. You can still apply to other schools under regular admissions and are not required to give your final answer of acceptance until the regular decision deadline.
Do not apply under an early decision or early action plan if you plan to compare financial aid packages from several colleges later in the spring. You shouldn't apply early if it would be advantageous to have more of your senior year work to show a college. You do not have to apply early decision or early action; they are simply options you might want to consider.
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Fri Apr 18, 2008
Rising Senior?
According to the College Board:
A campus visit is your opportunity to get a firsthand view of a college. A college catalog, viewbook, or website can only show you so much. To really get a feel for the school, you need to walk around the quad, sit in on a class, and visit the dorms.
A visit also gives you the chance to talk to students, faculty, and financial aid and admissions folks. You can get answers to questions, such as:
„X What is the average class size, and the student to faculty ratio? Are most classes taught by professors or by teaching assistants?
„X What is the campus meal plan like? How is the food?
„X What is the make-up of the current freshman class? Is the campus fairly diverse?
„X What's the social scene like? What kinds of activities are planned by the college's Residential Affairs?
„X Is there ample space in dorms or does there seem to be a housing crunch?
„X How many students are commuters/residents?
„X Do I feel at home here? Is this what I pictured college to be?
Pick up any official school material you see, such as brochures and financial aid forms. Don't forget to get business cards, too, so you'll have a real, live contact if you have a question about admissions or financial aid.
Student-produced material will give you a sense of what campus life is really like. Look around for newspapers and activity calendars. Check out bulletin boards, too, to see what bands are coming to the campus, parties are advertised, internships are posted, and generally what the day-to-day energy of the place is.
Ultimately, it's your decision. Listen to your gut. Do you feel comfortable walking around campus? Do you click with the students and faculty? Spending time on a campus allows you to determine if a school is a good match.
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Thu Apr 03, 2008
Seniors - How are the Financial Aid Offerings Stacking Up?
Remember that this letter only constitutes an “offering”. The student does not have to accept it or can accept certain parts of the aid being offered.
Items to consider:
• Add up the loans offered--compare the total debt.
• Compare unmet need.
• Add up scholarships and grants—compare total gift aid.
• Is the total cost of education (tuition/fees, room/board, transportation/books and
misc. reflected on the award letter?
• Calculate the family’s cost after financial aid (without loans)--compare
• Consider travel costs.
• Determine treatment of scholarships and whether they can be renewed.
• Compare loan rates and terms.
• Check aid policies for upperclassmen.
And last, weigh economic benefit of the potential career vs. the need to incur debt.
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Mon Mar 03, 2008
Why You Should File a Free Application for Federal Student Aid (FAFSA) No Matter What.
It's not just based on income. There are several factors used to determine financial aid eligibility: household size, number of children going to college, and age of the older parent. Any one of these factors could increase a family's eligibility for aid.
You may qualify for more need-based assistance than you think. Some institutions are offering significantly more grant aid to students from families with higher incomes, even those above $100,000. Ask the college about its policies and the possibility of a family like yours receiving aid.
If you want access to federal student loans, you need to file the FAFSA. Any student can take out a low-interest federal student loan, regardless of the family's income level. But you must file the FAFSA to be eligible to borrow. Even if you're not sure you will borrow, filing the FAFSA gives you that option, and it's free to submit.
A family's financial situation may change from one school year to the next. Filing your aid applications establishes initial aid eligibility and provides a baseline for comparison in case family circumstances change.
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Wed Jan 09, 2008
January and Financial Aid for High School Seniors
Income and asset figures from your tax return are needed to complete the FAFSA, so it's a good idea for you and your parents to prepare returns as early as possible this year. However, it is not necessary to submit your tax return to the IRS before submitting the FAFSA.
If a college requires the CSS/Financial Aid PROFILE, start filling out the application as soon as possible to meet February priority deadlines. PROFILE filers who complete the application after January 5 can print out a FAFSA worksheet, which provides answers to most of the FAFSA questions.
If you are submitting FAFSA online you might find it helpful to complete the Pre-Application worksheet, available on FAFSA on the Web. This worksheet is designed to help a family organize its financial information for the online version of FAFSA and should NOT be submitted to federal processors.
Don't forget to complete the institutional financial aid application for each college.
If you're applying to one or more colleges or scholarship programs that participate in the IDOC service, you may be asked to send tax returns and other documents to the IDOC customer service address. IDOC:
Is free to students
Streamlines the financial aid application process
Reduces costs to families for copying and mailing required forms
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Thu Dec 06, 2007
Seniors - It's Already December!
Applications:
Most regular applications are due between January 1 and February 15. Keep copies of everything you send to colleges.
Have your high school send your transcript to colleges.
Contact colleges to make sure they've received all application materials.
Financial Aid:
Apply Early. Apply Right.
You and your family should save this year's pay stubs to estimate income on aid forms that you'll file early next year.
Submit your FAFSA as soon after January 1 as possible. Men 18 or older must register for the selective service to receive federal financial aid.
Many priority financial aid deadlines fall in February. To get the most attractive award package, apply by the priority date. Keep copies of everything you send.
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Mon Oct 22, 2007
Expected Family Contribution (EFC)
The EFC is a calculation based on yours and your student's income and assets. It represents your fair share of one year's cost of college (Tuition/Fees, Room/Board, Books, Misc). Comparing this figure to the cost, you can see if your student will be entitled to an need-based financial aid.
If you're on the fence, then you should look at how the EFC is calculated and determine if there is something to be done financially to improve (lower) your student's EFC. Because financial aid filing is accomplished in Jan or Feb of the senior year of high school, and uses prior year tax information, the student enters the base year for financial aid eligibility in Jan of the junior year of high school. It would be prudent then, to make any financial moves prior to that time.
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Tue Oct 09, 2007
A New Edition of our College Planning Book
The new book is called "The No-Nonsense Guide to College Planning." It will be available by order mid-November.
Extreme College Planning and Extreme College Planning II are out of circulation. We apologize for the delay in the publication of The No-Nonsense Guide to College Planning and any inconvenience this may cause. Please check the web site beginning November 15th for availablity.
We have a few copies of Extreme College Planning II available by contacting us directly.
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Fri Sep 28, 2007
College Students Get a Break
The College Cost Reduction and Access Act of 2007 increases funding for financial aid, offers tuition assistance for students who plan to teach and helps struggling graduates repay their student loans.
See: http://articles.moneycentral.msn.com/CollegeAndFamily/CutCollegeCosts/CollegeStudentsGetABreakOnCosts.aspx
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