Net Price Calculators - Another way to mislead parents?

Net price calculators are tools which are supposed to help parents and students determine how much a given school is likely to cost, after financial aid is factored in.  This is a terrific idea!  Many parents grasp the notion that their actual price will differ from the published, official price of the college their child attends.  Everyone hopes the price will be very small; their family will receive large scholarships and grants.  Obviously, this cannot always be the case.  A few students will pay very, very little.  A number will pay full price. Most will pay something in between.

However, a look at the net price calculator the Department of Education has online reveals some of the challenge parents face when trying to sort all of this out for themselves.

Dept of Education’s site - http://collegecost.ed.gov/catc/

College Affordability and Transparency Center!

            The fine print at the bottom of the page says:

Note: Average net price is generated by subtracting the average amount of federal, state/local government, or institutional grant or scholarship aid from the total cost of attendance.

 Total cost of attendance is the sum of published tuition and required fees (lower of in-district or in-state, where applicable), books and supplies, and the weighted average for room and board and other expenses.

Average net price is for full-time beginning undergraduate students who received grant or scholarship aid from federal, state or local governments, or the institution. 

Let's take a moment to understand what this means.The first paragraph is pretty straightforward.  The average net price is the cost of attendance less grant or scholarship aid.  That is as it should be.  Now, the next sentence defines the way cost of attendance is defined.  Note the parenthetical information - the figure used is IN STATE.  Therefore all the costs are skewed down significantly.  If that weren't enough, take a good look at the third sentence of their fine print.  First, they used data for Freshman, who typically receive the most aid, period.  Second, they only used the data for those Freshman who received grants or scholarships!  They EXCLUDED all those who PAID FULL PRICE!

Consequently, parents cannot trust the net prices listed on the website at all!  They are less than what most families will pay.

Please realise that this is critically important.  All schools were required to have a net price calculator on their website by October 2011.  If the Department of Education's data is this misleading for parents, how reliable are the numbers on the schools' own sites? 

When I work with my clients, I calculate the net price for each of the schools under consideration myself.  My clients have a realistic estimate of their costs.  Then they can judge the affordability of the schools their child is considering.  For more information, please visit my website: www.celticcollegeconsultants.com.  Schedule your initial consultation today and start working with a seasoned professional who has your best interests in mind! 

Student Debt Rising Fast

Two thirds of the 2010 college graduates had federal student loan debt.  The average debt was 5% more than the class of 2009, with an average over $25,000.   Those students will start to pay about $270 per month next month, after their six month grace period ends.  They will carry that debt burden for the next decade.

Is there a way to avoid debt?  How can you be part of the one third of graduates without any debt?  Proper college funding planning, starting as early as possible, can alleviate the need to take on loans.  Our clients have not needed to take loans.  Some have seen their net worth increase during their family's college years.  Creating a strategic plan and implementing it empowers multigenerational success.

One simple strategy used by past generations with great effect is often completely ignored by the current high school and college students.  They worked.  Some held two jobs while they were in school.  Some only one but two during the summers.  Students in some fields chose schools with internships and coop programs, building professional work in their chosen field right into their college experience.  Flipping burgers is not glamorous but it can be quite motivating when a student needs to finish a paper or requirement to graduate - since they don't want to flip burgers forever.  Additionally, college students have far more skills, and are able, even in this economy, to work in capacities with greater responsibility and higher pay.  Some high school and college students have successfully started their own businesses.  Structured properly, a small business can create a significant income with a small, regular investment of time.

To explore having a custom college funding plan created for your family, See the Proven Results page of my website.

Read more: http://www.insidehighered.com/quicktakes/2011/11/03/average-loan-burden-2010-graduates-rises-5#ixzz1ceAKtplC

Suicide at College and College Selection

Recently, the Boston Globe reported on yet another unfortunate death due to suicide at MIT.  These have been happening among both undergraduate and graduate students.  In 2010, Cornell experienced six in one school year.

What does that teach us?

First, there is no conclusive data which directs us to a problem to solve.  Is the problem the school atmosphere?  Or the students' own backgrounds and cultures?  Or personal problems?  At this point, there is no answer.

The national average is 7.5 -12 suicides per 100,000 15-24 year olds (Depending on what source you use for that statistic).  The rate in the past decade at MIT is 18.1.  But they are not alone.  The Daily Beast, in March 2011, posted a list of the top 50 most stressful US colleges.

As a student focused college planner, finding the right setting for each student to continue their education is paramount in my mind.  It must be considered - Just because a student qualifies for a top university does not mean that the best choice for that student would be one of those schools.  It may be, but, for some students, they might be better off being a big fish in a smaller, more gentle pond.

There are a few action steps parents can take, need to take, in order to appropriately prepare their high school student to go off to college.  First, teach and empower your student to be his or her own advocate, to ask for help when it is needed.  S/he must learn to recognise his or her need for assistance, the sources for that help, no matter what kind it is, and how to successfully ask for it.  Each of these is crucial.  S/he cannot get help with organising their papers until s/he recognises that there things are in disarray and it would be helpful to have them in better order.  The student identifies the situation, and identifies it as a problem, as something which, if changed, would be more beneficial to him.

If your child has special needs of any kind, facilitate letting the college know about it.  Do NOT live in denial.  The problem(s) won't just disappear.  College tends to make them worse, because students have to learn to be far more self-reliant than they were in high school.  So, if s/he is struggling with depression, is ADD, needs learning supports, what have you, identify the appropriate office(s) on campus and make sure they are notified of your child's needs.  Ideally, have your student contact them directly.  Classroom accommodations are a right for qualified students.  Ensure that your child is able to get his or her needs met.

Lastly, check with your insurance, or the campus insurance, regarding benefits for the services your child needs.  Knowing what is available will help your family get the needed help in the most efficient manner possible.

Partnering effectively with your college planner, parents can continue to facilitate their children's success.

PSAT mysteries

The PSAT was administered last week.  So, what does that mean?  For most, honestly, it merely functions as a wake up call.  College is coming.  In a year or so, you must take the SAT and/or ACT!  Start thinking.  For others, it is a serious attempt to qualify for a National Merit Scholarship.  For some, it is the first college related test which allows students to see where they rank nationally.  As a sophomore, it is a confirmation that they are on the right track.  Or a wake up call, when their scores fall short of their goals.  As a junior, it may be the ticket to a full National Merit Scholarship.  How will you sort it all out?

No matter where you are on the spectrum, having a guide on your team makes a tremendous difference.  No athlete doesn't have a coach.  Achieving your college dreams requires the same diligent preparation under expert guidance.  Call the office for a free initial consultation today.   We provide expert knowledge for the journey to college - dealing with student preparation, college selection, applications, financial aid, and alternative funding (NOT loans!)

Californians must try harder!

With the latest round of applications completed, the University of California undergraduate admissions results are not surprising.  In an era of budget shortfalls, the UC system strongly turned to out of state residents to help balance the books.

At the system's top 3 schools, the numbers tell the story.  At Berkeley, the Freshman class will include a whopping 29.8% non-Californians.  UCLA came in #2 with 18.3% with UCSD right on it's heals with 18.2% of the class coming from outside the Golden State.

From a financial point of view, this move makes perfect sense.  As UCSD Professor Wayne Cornelius put it, "We need every bit of funding we can get to maintain the quality of education for all of our students."  The Board of Regents meeting last March signaled that such a change was in the works.  With the incredibly deep budget cuts they faced, they were forced to compromise somewhere - on academic quality, access to local students, or affordability.  The numbers aren't out yet from the financial aid offices but there will certainly be a reduction in the percentage of need met and scholarship dollars given.  The money just isn't there.

What does this mean?  The answer to that question depends on where you live and which UC campus you are considering.  The top three schools will be harder than ever to gain acceptance.  Overall, the percentage of non-Californians in the freshman class shifted from 8 to 12.3% despite the regent's decision to cap it at 10%.  For UCSD, for example, the increase was from 9.2% to 18.2%.  Jumps like that leave far fewer seats for California residents.  At Berkeley, only 70% of the seats were available to Californians.  Competition for these schools was already fierce.  It just got even more so.  For those living outside California, it is an opportunity to attend one of these excellent schools - just be ready to pay handsomely for the privilege.

What does that mean for you?  Planning for college needs to start now.  Preparing a student to be a desirable candidate at the school of his or her dreams takes time and planning.  Starting Freshman year is best.  Additionally, savvy funding planning is a must.  Don't wait - call this summer, before others fill all our open spots in your graduating class!  Serving families all across the USA with personal attention since 2004.

kob@CelticCollegeConsultants.com (858)-705-0043

Tuitions Explode, but that's not all...

In the Department of Education's latest report, 22 Cal State University system campuses are leading the nation with tuition increases ranging from 35 to 47% from 07/08 to 09/10.  At the same time, the national average tuition was $6, 397.  All twenty-two CSU schools had tuitions below that.

This means that, as far as tuition goes, CSU schools are still a good deal, if you can get in.  Given the significant reduction in the number of students being accepted at each campus, admissions is much more challenging than before.

Looking at the bigger picture, we notice that many of these schools have fairly low 6 year graduation rates.  Most students at these schools do NOT graduate in four years.  When planning college funding as well as deciding which schools to target requires taking all these factors into consideration.  Cost, expected admissions, success climate on campus, length of time to graduate, and financial aid possibilities are but a few of the myriad factors a family needs to consider as they finalize their school selections and funding plans.

Doing something new is always a challenge, and we all tend to make mistakes the first time or two.  You know the story - build something, then figure out what to do with the "extra" pieces that were overlooked the first time.  Unfortunately, when it comes to preparing our children  and our finances for college, there is no second chance.  That's why having a seasoned, certified, professional college planner guiding you is invaluable.  You will save untold hours as well as significant dollars.

Like any excellent professional, I work with a limited number of clients in order to ensure the highest level of service possible. Call today, ask if there is room in my practice for your family, and arrange a free initial consultation to discuss your student's hopes and dreams and the necessary steps to achieve those dreams! 858-705-0043

Overkill or a Savvy Strategy?

The admissions offices are so happy.  This season was such a success for so many of them!  Record numbers of applicants came in.  My undergrad alma mater's president commented, with glee, that the number of applicants has doubled in the past 6 years.  That's Northwestern, with over 30,000 applications.  Penn says: more than 31,500 students applied for 2,400 spaces in the class resulting in an all-time low overall admit rate of 12 percent!  Harvard only accepted 6.2% of their 35,000 applicants.  Yale and Columbia accepted fewer than 6% of the RD applicants and only 7% of EA/ED!


Look at these application numbers:  In 2013, about 250,000 applications were received by MIT, the Ivies, and Stanford.  In 2015, it was 298,000!


Northwestern, Penn, Stanford, Princeton, Dartmouth, Cornell all report record numbers of applicants.  Together with the other Ivy League and Highly Selective Universities, admit rates plummeted.  Of the Ivies, only Cornell and Penn admitted more than 10% of the applicants.  The average number of applicants was 30,717.  There are only 24,149 seats all together!  With nearly 300,000 applicants!


It's not just the super elite schools, either.  Christendom, a tiny staunchly Catholic school reports its "best recruiting year ever" with a full class, and a waiting list.  The U of California schools also report record numbers of applicants.


So, what does it all mean?  Primarily it means that the schools very effectively preyed on people's fears of not getting in and students applied to many, many schools.  The norm used to be 6 schools - 4 good fits, a reach, and a safety school.  In the past two years, that has quickly shifted to 10 schools per student, with many of the bright kids applying to 15 or more.


Does the frenzy benefit anyone?  Well, yes.  The schools benefit.  They can all raise their tuition and fees.  The financial aid office, overall, can give out fewer dollars.  They have the same number of seats - with so many applicants, why should they accept those with great financial need?  There are very few need-blind schools (schools which do not consider financial need as part of their admissions process.)  Once again, our poorer students are going to bear the brunt of the negative consequences.


What do we do about it?  Well, let's take back our power.  Resist the fear of not getting in, choose schools prudently, and apply to 6-8.  Reduce the family's expense (there are application fees) and stress level.  Reduce the teacher and counselor recommenders' stress, too.  


Another factor to the numbers explosion may well be that 414 US colleges and universities can be applied to with a single application.  The Common Application is the way to apply to ALL of the Ivies, ALL of the top liberal arts colleges, and nearly all of the non-Ivy top schools.  Only Georgetown, UCLA, UNC Chapel Hill, USC, and MIT don't use it.  The Common App. makes applying to numerous elite schools very, very easy.


Perhaps our elite schools could be encouraged to differentiate themselves again.  Given that it's all a numbers game, chances are slim.  Let's walk through this.  Say one school goes back to a private application.  That means extra work for all the applicants also applying to other Ivy/elite schools.  Those schools using Naviance (many of the better high schools) directly interface with the Common App.


Until the powers that be shift their focus or find that the market is saturated, I doubt we will see reform.  This side of the universities is their business side, not their lofty intellectual side.  With business, it's all in the numbers.  What is best doesn't come into consideration very much.


So, in the meantime, I urge sanity.  Choose your schools carefully.  Don't go for a school because it is prestigious.  Apply because it would be a terrific place for you, in particular, to grow and develop as a person and as an educated person.

Geeks and Social Cliques

http://news.yahoo.com/s/yblog_thelookout/20110510/us_yblog_thelookout/why-geeks-make-better-adults-than-the-in-crowd
This article posits what many of us "geeks" discover later in life.  By being different and retaining our individuality, our creativity, our uniqueness, and not abandoning our self-respect in order to conform and be accepted, we are happier with ourselves.  Our lives are more fulfilling.  We have fun and find deeper pleasure.  We also, often, continue to walk at a bit of an angle to the mainstream.  Our interests and tastes are not terribly influenced by the media or the advertisements which saturate our society and strongly support conformity.  Some of us have gone so far as to unplug ourselves; we don't own or watch television.  We retain control of our access to media, picking and choosing from the offerings on the internet, at the library and the now disappearing book store, on hiking trails, etc.  Frankly, with a house full of children, I don't have time to waste watching television.  I am too busy working with my children, helping them learn their lessons for school, and for life - conflict resolution, taking up the responsibilities which accompany freedom/privileges, working together for the good of all by contributing to the effective running of the household, etc.

Daring to step aside from the crowd takes courage, and the conviction that our pursuits are worthy of our time and attention.  The most precious asset any of us has is time - we will never have it again nor can we "earn" more of it.  So, our choice of how to spend it is key.

It is important to support the creative and free thinking of our students, particularly our elite students.  Consequently, liberal arts educations are highly esteemed by me.  There are many colleges and universities which will give students a mainstream education.  However, our innovators are not likely to thrive there, no matter how recognisable the university's name.

It is absolutely critical that parents and students keep the college selection task at the forefront of their minds for the first three years of high school, and before that, if the child is gifted, intellectually, athletically, or artistically.  During these years, college exploration and evaluation must be an ongoing task.  What is the best setting to further the educational goals of this student?  Which environment will best facilitate optimal growth and development of our student/child's gifts?  What setting is best?  If, however, the family's goal is prestige, then their favored college selections will be skewed and a serious mismatch may well occur.  The film, "Dead Poet's Society" is a must-watch for high school parents.  It is absolutely critical that parents listen to their children and honor them.  Don't put Harvard hopes on a child who would be stifled at Harvard.  It is the solemn responsibility of parents to remember that this is about the child, not the bumper sticker.  It's not about bragging rights to the prestigious schools.  It's about the bragging rights that our child is blossoming and joyfully developing his or her talents in a healthy, supportive environment.

Don't get me wrong; there is a place for prestigious schools.   I went to two of them.  I have the diplomas on my wall.  But, those pieces of paper, valuable though they are, do not make me the woman I am today.  My choices do.  My ability to reason, evaluate, and carry out activities and bring ideas into fruition do. My morals, revealed in my daily living choices, reveal who I am.  I may have the best education from THE best schools but, if I use it for ill, I will wear an orange prison jumpsuit and share a cell with a high school drop out.

As parents, it is imperative that we support our children as they walk the halls of our schools.  That we support their uniqueness and giftedness, whether it is the "in" thing or not, whether they will apply to the Ivies, or the community colleges.  It is, after all, our job to help our children become the best, most productive adults possible.  They are the future leaders of our families, communities, companies, and nation.  They are not our trophies - "Harvard Mom" bumper stickers cannot be our goals if we are being true to ourselves and our children (unless, of course, our student is a Harvard-type student).

So, go do the "right" thing and encourage your child to be true to him or herself!  To be the best person he or she can be, every day.

Admissions, the numbers game

Northwestern, Penn, Harvard, etc.. All are reporting receiving record numbers of applications for undergraduate admission this season.  Their marketing teams should be having post "game" celebration parties.  They met their objectives very, very effectively.  Record number of applications for a fixed number of seats in the class means much lower acceptance rates. Obviously, this adds to the exclusivity feel of the university.  It also nudges up the SAT and ACT score averages.

However, does it improve the quality of the education received?  Or the caliber or quality of the entering class?  Inherently, admissions has no impact on instructional quality or programming.  Northwestern, for example, had the number 4 engineering school when I was a student there in the 1980s.  However, its focus is primarily research and faculty publications.  The caliber of classroom instruction was mediocre and occasionally, I'll be honest, poor.  For this, my parents and I paid a fortune and I earned an engineering degree from an esteemed university, but I did not gain an excellent education.  My experience is not unique and I don't mean to single out my undergraduate alma mater.  This scenario is played out repeatedly over the years on campuses across the US.

Students and their parents need to look past the numbers the marketing and admissions teams worked so hard to generate in order to make their school look more attractive.  Student/Faculty ratios can be misleading - be sure only undergraduate classes are included.  And find out how large the large classes are.  Sitting in a class of 400 is a completely different experience than studying that same material in a group of 35.  As is being taught by a TA (graduate student hired to be a professor's Teaching Assistant).  Sometimes it is better.  Sometimes not.  If they are all foreign born with heavy accents, your student will face quite a challenge to their education.

So, what's my point?  My point is to urge families to look carefully at the various colleges and universities they are considering for their child.  Don't get dazzled by the marketing, the pretty campus, and the stats.  Look for the things that really matter - the education the student receive, the lifestyle of that college community, and the personal and academic caliber of the student body, for example.  Explore the graduation rate, the retention rate, the typical number of years students take to graduate.  Speak with the placement office and alumni relations.  What sort of future could be the result of studying there?

More information will be posted this Spring and Summer regarding the stats from the top schools.  Check back often!

How do I determine that a School is the right one for me?

US News and World Report uses a number of criteria, criteria which may or may not be in line with what is most important to you and your student.  If a professor, for example, wins a very prestigious award, does that tell you how good he or she is in the classroom?  Is any real contact possible with such professors?  Or are their classes handled by TAs (grad students who are teaching interns)? 

It is imperative that students and their parents more thoroughly investigate schools they are considering applying to.  Is Harvard, for example, the best place for your student to study in his or her chosen field?  Maybe, maybe not.

Here are some things to explore regarding colleges and universities you are considering:

Have you been on campus?  Sat in on classes?  Spoken to other students in that major?  Professors?  Are there undergraduate research or internship opportunities available?  Are there 2 of them for 5000 students, or is there a realistic chance that this would be part of your experience at that university?  What is dorm life like?  Is it party, party, party?  Is it all study and no play?  Is there a balance?  Can you find a place to study when you might need one?  What sorts of activities are going on - everyone needs to socialise and take a break now and again.    Are the typical activities of interest to you?  Do they refresh you and ready you for another round with the books?
  What sorts of discussions happen in the classes? Is this school notoriously intolerant of real discussion of various viewpoints?  After all, isn't true intellectual exploration a key part of a college education?  What sort of discussions happen in the dining halls and the dorm lounges?  Are students bashing those with particular viewpoints, or are they regularly engaging in meaningful examination of the merits of various arguments and positions? 

  What sorts  of alumni associations are there?  Do graduates often get accepted at their desired graduate schools?  Is the placement office efficacious in helping graduates and older alumni find positions?

This is by no means an exhuastive list of questions.  It is a representative sample.  Create your own, customised list.  What are the most important facets of a college education and experience for you?  Make a list; from your list, draft your key questions.  These will guide your campus visits.

None of these questions is easy to answer.  You have to do some real research and spend time truly exploring your candidate universities.  Name brands only take you so far - then you need to seriously explore the opportunities offered and value given for the price at that program in that university in order to determine which should remain on your list of schools to apply to and which should not.

Don't Wait!

Every April I receive numerous calls and desperate emails from parents of seniors.  Only now, when they have the financial aid offers in their hands, do they realise that COLLEGE COSTS MONEY! 

Astounding!  With many, many schools in the $50,000 and up annual price range, how did these parents miss this little fact?

I am often asked when should we start planning for college.  You should start planning for college as soon as the baby is born, maybe even as soon as the pregnancy test shows you the telltale red line!  Families with young children often do not have much money.  They do, however, have a great deal of time.  Time is a beautiful thing to have when you are growing a pile of money!  I can help young families put together a savings plan which is very effective and takes into account the financial aid rules so they can maximise their access to that pool of funds as well.

Don't be one of those families who only call a college planner when it is too late.  Call today, when your child is young! 

www.celticcollegeconsultants.com - Providing Expert Knowledge for the Journey to College!

Choosing and Committing

The acceptance letters are rolling in or have already arrived.  Now what do you do?  Rejoice?  Panic?

Obviously, you must pick one, and only one school to attend.  Below I outline an objective way to make this decision.  Yes, my engineering training is showing.  However, using a method like this works well.  The student can do this on his or her own, and so can the parents.  Then they can come together and discuss their assessments.  It would be helpful, first, to discuss and agree upon which factors are important.  Cost? Weather? Prestige? Course of Study options? Location? Crime rate in the area? Graduation rate? etc.  Then each can evaluate the schools on their own.  However, this is the student's choice, not the parents'.  The parents, because they will be paying much of the bill, can eliminate schools on the cost basis.  After that, the choice really is the student's.  The parents need to be involved so the evaluative factors, the aspects of the schools which are considered are the important ones.  Because Joe's going there is NOT a consideration.  Because the cheerleaders there are gorgeous isn't one either.  And, unless you are a player, the fact that they have a terrific team really isn't that important (I know, that is unthinkable to some - )

You need to go back to basics.  If money is an issue, take a long, hard look at the financial aid award letters.  Take the data off the letters and into a spreadsheet - code the schools A, B, C, etc.  That will help you analyse the financial part of the picture without any emotional attachment to the various schools.  Eliminate those which are just not financially possible.  Then prioritise the others. Best deal, next best, etc. 

Now, take a look at the schools which were not eliminated.  Write down 5 terrific reasons to go there and 5 drawbacks.  You will notice categories of reasons - travel costs/location, majors offered/special programs, setting of the campus, class size, weather/location.  Rank the categories - So, if undergraduate research is important to you, rank it high.  Then rank the schools - school A is best , B next, C next.  Give them scores - 5 for best, 1 for worst.  Make a spreadsheet with the schools across the top and the decision factors (reasons to go/not go) along the left.  Rank the decision factors from most important to least important.  The least important gets a 1.  If there are 8 factors, for example, the most important gets an 8.  Put the numbers in the first column next to the decision factors.  Then rank each school for each factor.  If there are 8 schools, rank the worst at 1 and the best at 8.  Do this for every factor.  Now multiply each rank by the weight of that factor.

Example

Decision Factor	Factor Relevance	School A	School B	School C
Important factor	4	1	4	3
Less Imp. factor	3	2	2	2
Not Imp. factor	2	3	1	4
Trivial factor	1	4	3	1

Now, Multiply each rank by its factor relevance, then add each school's score.  This will give each school an objective score.

Decision Factor	Factor Relevance	School A	School B	School C
Important factor	4	4	16	12
Less Imp. factor	3	6	6	6
Not Imp. factor	2	6	2	8
Trivial factor	1	4	3	1

In this example, schools B and C tie with 27 points.  In such a case, you would need to re-evaluate the schools without School A, or add additional factors.  Or, let your emotions break the tie.

You may want to visit the school again, in order to re-assess your impression of the school. That is only one factor, however.

OK, a confession - I'm a pretty new blogger and can't figure out how to delete the table below. So, please ignore it!  Thanks!