Tag: Consultant

I am a bit of a romantic in that I like to think that there are perfect “ones” out there- the perfect match, the perfect house, the perfect outfit, the perfect shoes, and the perfect job.  This romanticism is not unique to me, there are several websites from Zillow.com to Match.com that promote and capitalize on this notion. 

As a parent and a college consultant, I realize that such romanticism can be limiting instead of liberating.  To have the passion for the pursuit of the “one” can instill commitment to the pursuit of that goal.  But it also puts undue and unproductive pressure on the person committed to that one and only choice.  And as adults, we do our children a disservice if we teach them that there is one certain and perfect path for them. 

Which is why this May 1^st, college-bound students who did not opt for Early Decision, should consider many choices before they put their deposits down on one college-the “one” college.  One of my student clients was torn between two excellent choices; one college is an elite private school that gave her a generous merit scholarship; the other is her state college that gave her in-state tuition, admission into their Honors Program, and merit money.  With her dreams of medical school in her future, she was debating whether to pursue her “dream” school or attend her local state university.  After campus visits, discussions with current students at both schools, and a realistic review of her family’s financials, she has opted to attend her state university. 

She has invested in a “right fit college.” Because of self-inventory, in-depth analysis of colleges, and a college list reflecting a wide variety of schools based on her interests, personality, exclusivity and the likelihood of merit awards, she has given herself realistic and wide-ranging options as her desires and demands evolve.  Her chosen program of study has inroads into medical school that will also help her reach her long-term goals. 

Does the wise and prudent choice negate the romanticism of selecting her future college?  Absolutely not. There is no such thing as a perfect college, there are only the best colleges based on your circumstances and ambitions.  A well-developed time line of college visits and a compilation of a college list containing reach, target, and safety schools will result in a decision on May 1 backed with confidence and discernment. 

However, unlike dissolving a relationship, leaving a job, or tossing out the shoes that no longer suit you, transferring to another college for sophomore year does not have to be a traumatic option.  With sound reasoning and a strong transfer application, systems are set for a student to find a better fit if a first choice turns disappointing over time.  One student consulted with me after realizing his small liberal arts school was not able to accommodate his newly discovered passion for engineering.  In his scenario, his freshman year grades and transfer application essays earned him admission to a larger midwestern university with a strong engineering program friendly to transfer students. 

When it comes to an expensive purchase like college tuition, most parents are!  After hosting informational meetings this month, a recurring theme of concern was the high cost of college attendance and the availability of scholarships to offset this cost.

Can you get a worthwhile education for half the cost?  Or in retail slogan terms, can you get brand names for less?  A recent report by Inside Higher Ed reveals that for the first time, discount rates for freshmen at private colleges top 50 percent.  You may be a parent who wonders, why pay full price when you don’t have to? How do I minimize costs and still maximize my child’s opportunities?

Create your list of generous colleges.  One way to capitalize on a college’s potential generosity is to research colleges where your standardized test scores and GPA rank in the top 25 percent of the most recent admitted freshman class. Some, not all colleges, will offer merit scholarships to these upper tier applicants in their letters of acceptance. Presidential scholarships at certain colleges award approximately $20k per year over four years. A tuition discount of $80k is worth pursuing. Most of these scholarships may be contingent upon maintaining a minimum GPA in a chosen major.

Another way to earn scholarship money is by earning admission into Honors programs. Some of these programs offer money in addition to perks such as advance course registration and selective dormitory housing. Some of these programs are more reputable than others. Examine the individual criteria and the specific advantages of enrolling in Honors at the schools on your list.

Eligibility for various scholarships varies by school. Some colleges guarantee scholarships if standardized scores meet a specific number, some require personal interviews and participation in weekend activities.  Several ask for specific supplemental essays. A thorough examination of individual websites of the colleges will offer a detailed explanation of requirements and deadlines for merit scholarships.

Many colleges do not award any merit scholarships. They only offer grants based on family need, and for schools that meet 100 percent need, they will satisfy the monetary gap between your EFC (Estimated Family Contribution) and the COA (Cost of Attendance).

If your family will not qualify for need-based aid and if merit money is a necessary factor for your student to attend college, it is critical that you share this information with your student.  Although it may be a disappointing reality, it is frustrating for students to be awarded admission into a dream college only to realize they cannot afford to attend. Keep in mind, however, that the majority of colleges do offer some version of aid.

To get some sense of your EFC, and thereby determine your eligibility for need-based aid, start experimenting with a net price calculator. Just type “net price calculator” along with a specific college name into your search engine, fill in your responses to questions concerning your earnings and net worth along with the student’s test scores and GPA.

Financial data combined with the student’s scores feeds the base level data for the calculator to generate your EFC.  This monetary figure is not a perfect predictor of your tuition demands but it offers families some sense of their future obligations before they file their FAFSA (Free Applications for Federal Student Aid).  Some private colleges require a CSS (College Scholarship Service) Profile in addition to the FAFSA to further investigate your qualifications for financial aid.