College Consulting blogs

College Scholarships & Financial Aid Explained

admin — Mon, 02 Sep 2013 00:27:53 +0000

The total yearly cost of a top public university costs roughly $33,000 and the total yearly cost of a top private university costs roughly $60,000. Before you reach for the aspirin or give up on higher learning, read on to find out how you can get scholarships and financial aid.

Where can I get money for college?

The University Itself: upon acceptance, you will receive aid based on a combination of need and merit. Yes, you apply for these automatically when you fill out an application for financial aid. Yes, every college sets their own budgets, and so every college will offer you a different package. No, you will not know what that package will be exactly until you get a big envelope saying that you're admitted. Yes, these will be the largest single source (and for many students the only source) of scholarship or financial aid that you will receive. We've seen students receive $30,000 a year to even $55,000 a year from a university financial aid package.
Outside Scholarships: you can win these scholarships based on merit. These scholarships are privately run by different organizations, churches, companies, high schools, community groups, cultural groups, etc. Yes, you have to apply individually for each scholarship through Fastweb.com or local means. Yes, these applications will include essays. Yes, most scholarships run from $1,000-$5,000, and very few will grant you $10,000 or more. Yes, these scholarships are often based on special interest activities or low income or ethnic background. Yes, these scholarships are very difficult to win because it is "free" money. Yes, you can use this money at whichever college you decide to attend. Yes, (and most surprising to students and parents of all) if you win an outside scholarship, the university will subtract this amount from the university scholarship that you would have received.

How can I maximize the money that I get for college?

As you can see, the largest source and most probable source of scholarship will come directly from the college that you are accepted to. Thus, with our students in dealing with finances, we spend the most time choosing the colleges correctly, and writing essays in the application that may lead us to winning a sizable award from the university itself.Outside merit scholarships are worth pursuing because they are extremely prestigious and highly valuable for a student's sense of independence, but these outside scholarships are often unpredictable, rare, and do not change your total financial cost of going to college.However, keep in mind that outside merit scholarships are the most valuable to students who do not qualify for any financial aid from the university itself, because in that case any amount of outside scholarship won will directly reduce the cost of a college education.

What does a University financial aid package include?

Not all money given in a financial aid package is equal. You will most likely receive a combination of these depending on how much you need and the maximum that you qualify for under each category:

Scholarships/Grants: the holy grail. "Free money" that you do not have to repay. If you are extremely lucky, your entire financial aid package would consist entirely of scholarships and grants. However, most of the time, your financial aid package will also include some of the others below.
Work Study: the next best thing. You will be guaranteed a job on campus paid indirectly by the federal government. If you are smart, you can use it for research or work experience in your future career, so that you are getting paid for what you would be doing as a student anyway.
Student Loans (subsidized): a low interest (2.5%-4%) loan directly to the student. Subsidized means the federal government will pay your interest while you are in college, meaning that payments start six months AFTER YOU LEAVE COLLEGE and that the amount you had initially borrowed did not increase. The best loan for college that you can hope for.
Student Loand (unsubsidized): a low interest (2.5%-4%) loan directly to the student. Unsubsidized means that interest accumulates while you are in college. Payments start six months AFTER YOU LEAVE COLLEGE, and the principal will have increased during the time that you were in school.
Parent Loans (unsubsidized): a regular loan (8% interest) given to parents. Repayment and interest begin IN THE FIRST YEAR OF COLLEGE. Avoid if possible, but for many families, it is the only way to afford the college that the student wants to attend.
Standard Bank Loans: if you still somehow come out short even with all of the options above, you can get an outside loan from a bank but at higher rates than above. I DO NOT RECOMMEND that you go this route, but for a few special cases, this may make sense.

Sample Financial Aid Breakdown

How do I know what financial aid package to accept?

At the end of the day, do treat the cost of college as a business decision. Is the financial package offered to you by the college worth it for you financially? In other words, education is an investment. Do you value a college education as a short-term or a long-term investment? In either case, is the total cost worth it for you in that time frame?

With our students, we choose colleges that will meet their financial concerns and can also do some projections about the kind of aid that they will receive. We help them fill out the FAFSA and the CSS financial aid applications to make sure they represent their financial situation in a way that clarifies to the college what their needs are. If they come early enough in the process, we can help plan out their finances to make sure they receive the most favorable financial aid conditions. When our students receive their acceptance letters and individual financial aid packages, we help them weigh the pros and cons of each "deal", to make sure that they and their parents are making the most educated decision within their needs and expectations.

College Admissions: How does Early Admission work?

admin — Tue, 27 Aug 2013 21:01:02 +0000

K evin submitted an early college application to Johns Hopkins University by November 1st, and was admitted a month and a half later on December 15th. He dropped his remaining college applications and knew where he was going to college and the total cost by January 1st. Sound like a sweet deal? It's called Early Admissions and it's an admissions option offered by many of the top colleges in the United States, an option that has been increasingly exercised by applicants to college. I strongly recommend that my prepared students take advantage of early admissions. How does early admission work and is it right for me? If you want a single simple piece of advice regarding the confusing early admission system, here it is: apply early to only one college that you love, if you are not concerned about financial aid. If you are of the curious nature and want to understand the system in-depth, then read on.

Why apply for Early Admission?

you know which college you want to attend without a doubt.
you want a better chance of gaining admission
you want to reduce the stress and uncertainty of college admissions
you want admissions to be done and over with in December instead of dragging out the process until April of the next year
you want to reduce the cost of the application process significantly because you will not have to pay for application fees, transcript fees, test-sending fees, CSS profile fees, and admissions weekends trips for other colleges. Let us also not underestimate the high cost of time and the savings you get there.

Why do universities offer Early Admission?

the college wants to "lock down" the cream of the crop students before other colleges do
the college wants to fill its freshman class as much as possible as to remove the uncertainty of how many students will comprise the freshman class, which allows the university to budget and plan smoothly
the college wants to reduce the stress of the admissions process, because it will have fewer regular decision students to enroll, reducing the time spent on "courting", waitlists, appeals, etc.
the college wants to spread out the work of admissions by beginning the work sooner

What types of Early Admission are offered?

Type	Good For Students Who...	Pros	Cons
Early Decision single-choice binding due: nov 1 results: dec 15 ~50% of top colleges	love a specific college have grades & tests ready don't need to see exact cost	higher accept-rate reduced app stress & cost	required to enroll uncertain financial aid only 1 app allowed
Early Action: Non-restrictive non-binding due: nov 1 results: dec 15 ~25% of top colleges	don't have a favorite college want to know sooner sooner	not required to enroll reduced app stress & cost multiple apps allowed	same accept-rate
Early Action: Restrictive single-choice non-binding due: nov 1 results: dec 15 only 4 of the top colleges	love a specific college are exceptionally strong need financial options open	not required to enroll reduced app stress & cost	tougher accept-rate only 1 app allowed
Early Decision II single-choice binding due: jan 1 results: feb 15 ~17% of top colleges	love a specific college won't be ready until January don't need to see exact cost	higher accept-rate	required to enroll uncertain financial aid no savings on stress/cost

Conclusions

1. Early Decision is the only way to increase your admissions chances, but of course it comes with downsides.

2. Early Action reduces some stress and cost, but it doesn't increase your admissions chances.

3. To see if it's worth it for you, click here to see acceptance rates for early vs regular admission for the top colleges.

What outcomes are possible in Early Admission?

1. Accepted: a yes. Congratulations!

2. Waitlisted: a maybe yes. If after regular admissions in April, many accepted students decline, you may be given a spot.

3. Deferred: a maybe yes, but most likely a no. The college will consider you again at regular decision in April, but keep in mind the majority of deferred applicants will eventually be denied.

4. Rejected: a flat no. Sorry, you cannot apply regular decision nor will you get a second chance. Rejection is painful but sometimes for the best.

Summary

1. Would I recommend applying for early admission? Yes, if the student loves a college and is academically and financially prepared.

2. Can you apply to multiple early admission programs? No, unless you apply to only Unrestricted Early Action colleges, but then this route removes any advantages you may have had in terms of winning acceptance.

3. Do I recommend Early II? Yes, for the same reasons as in Question #1 above.

4. Would I recommend doing an early program simply to "game" the admissions process? No. Early admissions works in the favor of those who are enthusiastic about a college and who are certain that they want to attend.

5. How do I approach Early Admissions with my students? For my students, if the academic and financial cards are properly aligned, I recommend Early I, followed by Early II, followed by Regular Decision, giving our students the advantage of three shots at college admissions.

What Services Can I Expect From A Private College Counselor?

admin — Mon, 05 Aug 2013 23:31:34 +0000

Are you looking for help with college admissions but have no idea where to start? The difficulty in looking for an independent college counselor lies primarily in the diverse range of services offered. Here is a list of the different types of admissions services available, and what to expect from each, ranging from limited to comprehensive service providers:

Institutional Counselors. Counselors employed by your high school or university usually help with the required recommendation forms and administrative procedures. They cannot help you with essays or applications simply because those duties are not in their job scope or commitment capabilities. You are looking for an independent college counselor in the first place because the help that you need exceed what is provided by your institutional counselor.

Essay Editors. Although at the lower end of the cost spectrum, essay editors can only help you with structure and grammar for personal statements. They are usually not expected to, or experienced with, helping you craft personal statement topics with college admissions in mind. They also are not expected to help or have experience with the other aspects of admissions that you may need in order to find an edge in admissions, such as applications, supplements, and financial aid.

Tutoring Centers. Some test-prep centers have now begun to lump into their services what they call "college consulting" services. However, most of the time, you will receive help from a tutor in an hourly format. The tutors will help you with applications and personal statements. Most of the time, however, the quality of service you receive depends completely on how lucky you get with the tutor that you have been assigned to. Some tutors may be experienced with the aspects of college admissions, but you will rarely find a systematic process or a clear strategy in helping a student increase the chances of admissions.

Independent College Counselors. An independent college counselor is a working professional, certified to have knowledge, experience, and the holistic approach necessary for the complete university admissions process. The two core services that you will receive from an independent college counselor involve college applications and personal statements. An independent college counselor will help you choose the right topics to make your personal statements a reflection of you and help you stand out in admissions. A college counselor will also usually help to present you, through your application, in the most distinctive way that highlights your best traits.

Application services and personal statement revisions are a given expectation, but what else does a truly good college counselor provide?

In our systematic approach to college admissions, we recognize that every family has different academic, personal, and financial needs and goals for the college admissions process. In addition to application management and personal statements, we create a personalized admissions strategy for each student, coming down to a proper major, selecting the right universities, and producing resumes to garner recommendations. We use temperament theory to figure out what areas a student may excel in and compare with his/her areas of interest. Unlike anywhere else, we use proprietary task tracking software to allow you to see where you stand in the process and remove the uncertainty of admissions.

An emerging area of college admissions counseling services involves the use of state of the art web-based technology to assist with various aspects of the process. Typically these are useful online tools for those who are highly self-motivated and organized, however we have yet to see a holistic solution that packages these various bits and pieces into a streamlined end-to-end offering... stay tuned, because here at College Consulting we plan to keep you posted on new developments in this area.

With our services, you can be certain that anything and everything you need to maximize your admissions--your goal and ours--will be taken care of, which is the most sensible approach for something as important as a one-shot chance at university admissions.

Tags: “college admissions”, “college counselor”, “admissions counseling”, “college applications”

Why Do I Need A College Counselor?

admin — Mon, 05 Aug 2013 23:14:23 +0000

I often hear people unfamiliar with my work ask, "If I can just submit these essays and applications myself, so why would I need help?" Of course, you always have the option of completing anything in life by yourself-- but when you want the best results, it’s best to consult an expert.

A high caliber independent college counselor is an admissions expert who is certified to help you gain admission into the colleges that fit your goals best. In addition to providing the core services of application management and assistance crafting the perfect personal statements, a skilled private college counselor goes beyond these core services to help you identify colleges, find your passion, win financial aid or scholarships, and much more.

Ask yourself this: Do you know admissions inside and out as an expert with years of experience? Do you know what specific universities look for in an applicant? Which majors increase the chances of rejection? Do you know what adcoms (admissions committees) look for in personal statements? Do you have the time to figure it all out and piece together a comprehensive strategy to achieve your personal goals, while maintaining the grades, the extracurricular activities, and your family’s collective sanity?

It’s no secret that college acceptance rates have been declining despite increases in the number of applicants, making it that much more challenging to secure your spot at the college of your choice. A trustworthy college counselor cannot guarantee you a freshman spot at Harvard, but he or she can certainly make sure that you maximize your chances.

Image Credit: Suproteem Sarkar/The SPOKE Stoganews.com

Another way to frame the question is, "Why would I hire a tax accountant?" The answer is the same: it reduces the stress of an important process, and you gain optimal results. Unlike yearly taxes, however, for most families the college admissions process is a one-shot deal. Getting it right the first time is something an expert who is up-to-date and experienced can provide. Most everyone knows at least 1 academically top-performing student who applied on his/or own and was somehow rejected from every Ivy League school. Usually the reason why is that, while academically talented, he or she underestimated and/or misunderstood the nuances of the admissions process.

A second point of confusion I often hear is, "Why would I need a private admissions counselor in addition to my high school or university counselor?" The truth is that independent college counselors exist because guidance counselors at both public and private schools are overwhelmed. According to the U.S. Department of Education, the ratio of students to counselors is 476:1, and the average high school student receives only 38 minutes of personal advising on college admission! In addition to high student load, institutional counselors have additional administrative responsibilities -- they simply do not have time for the ins-and-outs of competitive admissions. Does the counselor at your institution sit down have the time to meet and go over with you possible college majors, help you find universities that fit you, discuss finances, and help you write essays? The answer I've consistently heard is an overwhelming ‘No’, and it's not the institutional counselor's fault (in my experience, institutional counselors are tireless champions for students). Rather, our current institutions have simply not adapted to the increasing number of students pursuing higher education. Independent college counselors have stepped into the gap to provide the services that students need but have not been able to get at their schools.

College admissions are increasingly competitive, the cost of a college education is increasingly expensive, and many students do not understand how to translate education into careers that will bring them financial and personal fulfillment. Would you invest a fraction of the cost of a college education in order to get into a great university and find an educational path that makes sense for your future? If your answer is ‘Yes’, then like many of the families that I have helped succeed, you have come to understand why you need an independent college counselor.

Tags: “college admissions”, “college counselor”, “admissions counseling”, “college applications”

Applications Made Easy

admin — Thu, 27 Sep 2012 06:22:33 +0000

How can I manage all of my applications when universities require different application systems, different forms, and different deadlines? Now you can. Use the My Applications module to track your reaches, fits, and safeties all on one page. Strategize and plan like no other.

Data. Glorious Data.

admin — Thu, 27 Sep 2012 06:21:48 +0000

What kind of college do I want? Wouldn't it be easy to make decisions if I had all of the data available? Well now you do. Sort a comprehensive database of the national universities, liberal arts colleges, and technical/art schools--by rank, by scores, by tuition, and by student experiences.

Know Thy Progress

admin — Thu, 27 Sep 2012 06:21:01 +0000

How far along am I? There is nothing like the peace of mind that comes from knowledge of exactly where you are in the admissions process. With the easy-to-read My Progress module, you will see bars that represent your completion percentage and your remaining tasks, so that you can gauge your time appropriately.

The Big Picture: Who Am I?

admin — Thu, 27 Sep 2012 06:20:02 +0000

What makes me different? What are my values? What’s my niche? Find the answer to these questions when you use the My Profile module to integrate all of your academic, extracurricular, and personal characteristics in one place.

Access Your Files From Anywhere

admin — Thu, 27 Sep 2012 06:19:09 +0000

Need to print your essays, forms, resume, transcript, test scores but forgot them at home? No problem. With the My Files module, you will always be able to download and backup important documents.