No Cost College Prep Gifts for Teens & Adults Alike

 

by Katherine O'Brien ThD Candidate, Certified College Planning Specialist, Founder of Celtic College Consultants (KOB@CelticCollegeConsultants.com)

Improving our use of time, our memory, and our ability to learn new things, these appeal to everyone. These strategies might have odd names but they are easy to learn and will create cascading gifts in the lives of teens and adults alike. Both have been researched and shown to improve human abilities. The new field of neuroscience bears rich fruit yet again!

 

Chunking

 

Chunking is a tool useful both for time management and for organizing and recalling information. Basically, it involves chunking your day into periods of time and giving each of them a focus. Having a single focus for a given half hour, for example, makes it easier to complete the task assigned to that time. Chunking can also be used to organize information, in fact, many of us use some sort of chunking already. Learning more about it can increase our ability to retain new information.

More info and tips on chunking as information organization: https://www.talentcards.com/blog/chunking-memory/

and https://pubmed.ncbi.nlm.nih.gov/29698045/  

 

 

 

Info and tips on time chunking (also called batching):

https://sites.rhodes.edu/academic-and-learning-resources/news/productivity-time-chunking-method

 

Interleaving

 

Per the University of Arizona, "Interleaving is a process where students mix, or interleave, multiple subjects or topics while they study in order to improve their learning. Blocked practice, on the other hand, involves studying one topic very thoroughly before moving to another topic. Interleaving has been shown to be more effective than blocked practice for developing the skills of categorization and problem solving; interleaving also leads to better long-term retention and improved ability to transfer learned knowledge. This strategy forces the brain to continually retrieve because each practice attempt is different from the last, so rote responses pulled from short-term memory won’t work. Cognitive psychologists believe that interleaving improves the brain’s ability to differentiate, or discriminate, between concepts and strengthens memory associations. Because interleaving involves retrieval practice, it is more difficult than blocked practice. It is important to remember that effortful studying feels worse but produces better long-term results."

 

More info and tips on interleaving: https://academicaffairs.arizona.edu/l2l-strategy-interleaving

and https://www.coursera.org/articles/interleaving  

and https://www.scientificamerican.com/article/the-interleaving-effect-mixing-it-up-boosts-learning/

 

Here's to your success!

 

For more information on Katherine's College Success Program, with its three pillars: Premier Student Preparation, Savvy College Selection, and Abundant College Funding, please visit her website here: https://www.celticcollegeconsultants.com/college-prep-services Her 2024 students were offered, on average, over $300,000 each in scholarships.

 

 

Help Teens Be Holiday Blessings

by Katherine O'Brien, Certified College Planning Specialist, Founder Celtic College Consultants

The holidays are a special time of the year. Thanksgiving, St. Nicholas Day, the Feast of the Immaculate Conception, Our Lady of Guadalupe, Christmas, and New Years. These special days bring various groups of people together, friends, co-workers, and extended family members. In addition to all the merry making, good food, and fun activities, most teens are silently suffering from anxiety as they wonder how they fit in. Teens (and some adults) wonder:

 

What do people need that my talent can provide? What can I do to help? How do I fit in, now that I am no longer a child?

 

They wonder how their gifts and talents, personalities and interests can become something, become useful in a meaningful way. One of the basic human desires is to be seen and acknowledged. Another is to be useful, to do something meaningful and lasting with one’s life.

 

Here are a few examples of how teens I have worked with have been able to connect their gifts with the needs of those around them:

One of my students, a gifted musician, uses her music to give people a respite from their daily lives. Seeing how stressed people in her life are, she invites them to sit with her and let go of their phones and burdens for a while. She listens carefully to them, joining them in whatever is going on in their lives. Also sensitive to the needs of the elderly in her community, she occasionally plays piano and sings at a local nursing home in order to help meet the people's needs for connection. Playing songs from their past, her audience members connect through memories to people they have known over the course of their lives. Playing songs of the season, she helps them celebrate the blessings of today, and brings the community together, connecting them with shared song and music.

 

Another of my female students has the gift of emotional sensitivity. She uses this in her peer counseling roles, drawing students into small groups or one on one discussions. She helps by listening, and by teaching various coping strategies. Just the fact that they are noticed and reached out to has helped break through the isolation her fellow students have felt, thinking they were the only one who was grieving or sad or lonely or afraid when, in fact, many people feel those things. It is not uncommon, for example, for high school students to experience the loss of one or more of their grandparents. This loss is significant. Not only have they lost someone who likely provided them affirmation and encouragement, a tie to their past, to the heritage of their family, to the stories and customs and traditions of their family has been lost. Life is never again the same after the death, or the birth, of a human being. It takes time to adjust to that change in our family and community.

 

A young man I worked with recently, used his own need for physical exercise in order to keep his mental health healthy to motivate him. Rather than sit inside and get depressed, he tapped his organizational skills during the pandemic lockdown. With help from his dad and a few friends, he modified his family’s garage into an open air weightlifting gym with the help of a group of friends. This same group was then able to come together and lift and exercise, thus meeting their social, physical, and mental health needs. His ingenuity, creativity, and leadership skills served his community well. He also gave encouragement to his friends, thus boosting everyone's moral during those difficult and uncertain days. Each of those young people, with their lower personal stress level and calmer demeanor was able to help support his or her family through the difficulties everyone faced during the months of lockdown.

 

Another young man I had the pleasure of working with throughout his high school years was extremely introverted. Finding opportunities to exercise his gifts and talents in ways he was comfortable with was challenging. One day, when we were talking, I noticed that his whole demeanor underwent a subtle change. He had been talking about making a particular dish for a family gathering. This dish was special to his family, and he had been taught how to make it by his grandmother. He was now the custodian of that part of his family’s patrimony. His quiet work in the kitchen was celebrated by the family when they gathered around the table. With my encouragement, he sought out a younger cousin and began to teach her the recipe and techniques needed to make this special dish, thus ensuring that this part of their family’s heritage would not be lost, since more than one of the grandchildren could carry it forward.

 

Please join me in helping teens use their gifts to bless others

 

When you meet with teens at holiday gatherings this month, how can you help them begin to recognize their talents and find ways to use them to meet the needs of the people in their lives? Be creative. Invite them to make their own unique contribution to your family and community.

 

One of the things you can do is invite them to meet with me. For 20 years I have guided teens through the process of getting to know and appreciate their own giftedness, then explore possible roles to begin to use those gifts now. These conversations blossom into considerations of post high school possibilities including trade school, community college certificate programs, as well as various programs and majors at college.

 

Katherine can be contacted by emailing: KOB@CelticCollegeConsultants.com

Teens, Become Who You Are!

 by Katherine O'Brien, Foundress, Celtic College Consultants

The holidays are approaching! The dreaded, "So what are your plans for when you finish high school?" question will be heard by teens everywhere.

What do you want to do when you grow up?

How am I supposed to know?

For over 20 years, I've helped teens explore options, come to know themselves, set goals, and take steps toward accomplishing those goals. Sometimes, however, a teen genuinely doesn't know. Then, there's a shift...

Knowing one's skill set and interests is enough to get started. This year, for example, I am working with a gifted story teller/writer/strategist. That skill set can be used in a number of fields and endeavors. At this point in her life, she really has no idea what direction to focus her skills. In her case, then, her initial college goals are a program where she can hone her skills and continue to develop as a young woman in an environment that shares her values and offers her numerous and varied beneficial growth opportunities.

Late blooming is okay!!!

 Today is my 60th birthday. As I write this blog, I am ensconced in a study room at a university library. I will spend most of my day researching and writing my doctoral dissertation. In some very real ways, I am only now beginning to bloom as a person. The experiences I have had so far have, in a very real sense, been a practicum composed of periods of various on the job training of sorts. All those experiences are being drawn upon in my doctoral work and the ministry that is beginning to be formed based on my thesis.

Some would call me a late bloomer. Those familiar with the work I'm doing recognize that a long period of preparation is necessary to handle the topic I'm working in, both to provide necessary insights as well as to allow healing and maturity to inform those insights and the delivery of them in my talks and writing. There simply is no substitute, in some cases, for life experience.

BE WHO YOU ARE!

You were created on purpose, for a purpose. Be not afraid to be yourself, and bloom, just be you!!!

Katherine can be reached by email: KOB@CelticCollegeConsultants.com

What do College Prep, Taylor Swift, and Aristotle have in Common?

 by Katherine O'Brien, ThD Candidate & Certified College Planning Specialist

 

An Irish philosophy professor recently wrote an article comparing Taylor Swift and Aristotle. When I read it, I recognized the work that I do with teens, too. (Not that I am on par with Aristotle!)

 

Like Aristotle, Taylor Swift regularly deals with core identity questions. In her lyrics, she addresses various aspects of this. In Mirrorball, she reveals the idea that you can strategically shift your sense of self. In Happiness, she sings about the me of now not being the same as the me of the past, and that she has not yet met the me of the future. Repeatedly, she approaches various aspects of the questions we all, but especially during the teen years, wrestle with- Who am I? What sort of friend am I? What sort of artist am I?

 

Inviting young people to examine who their true selves are, develop the good habits they need to be excellent (Aristotle would call that virtuous), and encouraging them to live in accord with who they truly are, these are the core tasks of my work with college bound teens. As they learn to be themselves, they need time and encouragement to explore who they are. They need coaching to identify the skills, the habits they need to develop so they can become excellent at being who they are. In order to develop good habits, accountability and encouragement is needed. These are the key elements of my work, particularly during the 8^th, 9^th, and 10^th grade years. As Aristotle said, “Knowing yourself is the beginning of wisdom” and “We are what we repeatedly do.”

 

Selecting majors and colleges come after that work is done and is completely directed by that work. Skipping the foundational work done during the first two years of high school is like building a building directly on the ground. It has no foundation and will slide or sink or collapse when the rains and the winds come. Building a foundation is even more important in our children than in our houses.

 

If you have a college bound (or potentially college bound) 8th grader, or high school freshman or sophomore, it is time for us to meet. Every month that goes by, opportunities for growth, affirmation, direction, and healthy “coming into their own as a person” are missed. NOW is the time to start investing in the next phase your children’s futures. Email me today to schedule a consultation. I’m offering 40% off consultations this month, in honour of my birthday. (Discount offer ends 11/30/2024) KOB@CelticCollegeConsultants.com

 

To read Susan Andrews’ article: https://philosophynow.org/issues/164/Taylor_Swift_A_Philosopher_For_Our_Times

 

 

Catholic Light Shines in Higher Ed - Growth in Faithfully Catholic Colleges Despite overall National Declines

by Katherine O'Brien, Certified College Planning Specialist, Founder of Celtic College Consultants 

Despite nationwide college enrollment declines, enrollment growth at authentically Catholic colleges offers powerful signs of hope!

 

“College enrollment has been declining since 2010 by approximately 12%.[1] Enrollment at private four-year colleges decreased by 54% from 2010 to 2021.[2] Meanwhile, enrollment nationwide declined by 7% from 2019 to 2022.”[3] Additionally, more than 70 colleges have closed since 2020, while others have merged, and more face uncertain futures in light of their precarious financial situations.[4] Notably, this all comes BEFORE the expected drop off of college students, due to the drop in number of high school graduates (due to lower birth rates) which is expected in the next couple of years. Overall college enrollment is up this year, despite the significant shrinkage of the freshman class.[5]

 

In light of these bleak circumstances, the growth of 11 Catholic colleges with a “strong Catholic identity” and the opening of several more such colleges is truly remarkable!

 

From a recent Catholic News Agency article, we learn, “University of Mary in Bismarck, North Dakota, had its largest incoming class for its second year straight, the media relations specialist for “UMary,” Tom Ackerman, told CNA. This fall, enrollment increased from 3,805 students in 2023 to 3,861 students.”” UMary has 24-hour-a-day adoration at its Benet Chapel and offers eight different Catholic student groups, including the Knights of Columbus and FOCUS.

 

“Belmont Abbey College in Belmont, North Carolina, just outside Charlotte, announced its fourth-highest enrollment rates in the college’s history. The college had a 2% increase in enrollment since last year, with 1,687 students enrolled, including in-person and online undergraduate and graduate students.

 

“Belmont Abbey College as well as UMary both feature maternity programs for student mothers. Belmont’s maternity program for pregnant college students is known as MiraVia.[6] UMary’s St. Teresa of Calcutta Community for Mothers program made headlines last year after its first student mom graduated with her daughter.[7]

 

“Franciscan University of Steubenville in Ohio has hit its 10th consecutive year of record-breaking enrollment, John Romanowsky, director of marketing and media relations, told CNA. FUS welcomed its largest-ever incoming class of 812 students. The university has a total of 3,977 students enrolled in both its in-person and online programs.  FUS has continued its growth by launching a Washington, D.C., program this fall for students that prioritizes evangelization, formation, and bringing a Catholic perspective to the capital.[8]

 

“The Catholic University of America (CUA), America’s oldest Catholic research university, experienced slight growth in enrollment amid challenges, Vice President for University Communications Karna Lozoya told CNA. “Like many Catholic universities nationwide, this enrollment cycle presented challenges in first-time fall enrollment due to the well-documented FAFSA delays and the resultant cost uncertainty,” Lozoya said. “Despite these obstacles, we are pleased to report a slight increase in overall student enrollment.” Additionally, CUA has added an undergraduate business program in Tucson, working jointly with Pima Community College, in order to empower local students.[9]

 

“Ave Maria University in Florida also had record-high enrollment in fall 2024 while increasing its GPA standards for applicants. “Students want to come here,” Susan Gallagher, vice president of marketing and communications, said, “especially when they visit and see the Ave joy — joy in the truth.” Ave Maria also has the highest percentage of Catholic students in more than a decade, at 93%. 

 

“Another university that has seen increased enrollment is the University of Dallas, where freshman enrollment was up significantly over last year, with a class of nearly 400 — a 14% increase from last year, Clare Venegas, vice president of marketing and communications, told CNA. “Our strong Catholic identity coupled with the academic rigor of our curriculum are both key reasons students cite for choosing UDallas,” Venegas said.

 

“University of St. Thomas, Houston, another Catholic university in Texas, also welcomed a record-breaking undergraduate class this fall, with 683 freshmen and more than 200 new transfer students, according to Sara Nevares Johnson, dean of admissions.

 

“A liberal arts college in a small city of 10,000 has been growing for the past 20 years. Benedictine College in Atchison, Kansas, has seen “another year of record enrollment, with 2,213 full-time undergraduates,” Benedictine College’s Director of Marketing and Communications Stephen Johnson told CNA. “This is a continuing trend of positive enrollment growth over the past 20-plus years,” he added. Benedictine is seeing growing freshmen classes as well as “large increases” in transfer students, Johnson noted.

 

“The Thomas More College of Liberal Arts in New Hampshire, which keeps its student body intentionally small, hit its largest number of students this year: 98, the college president, William Edmund Fahey, told CNA. The college’s student body has more than doubled since 2009.Fahey said the college is “at the point at which we will need to run a building campaign so as to house the increase.”

 

“Another school that is intentionally small but growing is Christendom College in Front Royal, Virginia. Christendom reached its enrollment cap for the past four years, instituting a waiting list each year. “We had to institute a waiting list for the fourth year in a row this year, due to the continued high demand for a Christendom education,” Christendom Director of Communications Zachary Smith told CNA. “In fact, over the past 10 years, Christendom has grown by 40%, helping us to achieve our cap of 550 students. We keep the school intentionally small in order to keep class sizes smaller,” Smith explained. “This fosters more discussion in the classroom and better connections between students, their peers, and their professors.”

 

“Another intentionally small school, Thomas Aquinas College, has expanded to two campuses to grow. “TAC” keeps its student body intentionally small given its Socratic style classes and focuses on a tight-knit community. TAC has two campuses, one in California and one in New England. The two campuses combined hit record-high enrollment this fall at 566 students, Christopher Weinkopf, the college’s executive director for college relations, told CNA. The California campus was near capacity, at 372 students, and the New England campus has its largest student body yet, at 194 students, about a 13% increase since last year, according to Weinkopf.  

 

John Paul the Great Catholic University in California is another school that focuses closely on a small number of students, with 288 students enrolled this year. Known as “JPCatholic,” the university focuses on creative arts and business innovation. The school has seen growth in the past year, despite uncertainty. “The flawed new FAFSA rollout caused great uncertainty to college-bound students in 2024, and this impacted JPCatholic,” James Crowell, mission advancement officer at JPCatholic, told CNA. “Despite this, JPCatholic had a 1% increase in fall student enrollment over 2023. We are a niche school, so our focus is a small number of kids but the highest quality of education,” he added. JPCatholic has also recently added a fashion program and plans are underway to double the school’s academic space through its new creative arts academic complex.[10]

 

Additionally a number of new faithfully Catholic colleges have opened.

 

The Collegium Sanctorum Angelorum (College of the Holy Angels) in Maryland offers a classical liberal arts education that is “faithful to the intellectual, moral, spiritual, and liturgical traditions of the Roman Catholic Church, and a formation in Catholic living – ora et labora, both at affordable rates.”[11]

 

Catholic Polytechnic University in Los Angeles accepted its first class in fall 2024, initially offering an undergraduate degree in computer science. Many more STEM degree offerings are expected, as well as graduate studies in theology, as the college grows.

 

Pontifex University, a graduate school in theology, is run completely online and has been steadily growing. They currently have over one hundred students in their doctoral program in theology.

 

The Augustine Institute, the largest US graduate school in theology recently moved to Florissant, MO, a St. Louis suburb, and will be expanding its degree offerings soon.

 

The College of St. Joseph the Worker in Steubenville, OH offers training in the trades as well as a combined trades/ bachelor in Catholic studies program. Their students work as they study, thus graduating without crippling debt. They teach carpentry, HVAC, plumbing, and electrical trades. Their mission is to equip people for effective lay vocations, proclaiming the gospel to the world.

 

Another college in the Benedictine tradition (like U of Mary, Benedictine College, & Belmont Abbey College), Rosary College in Greenville, SC has also opened its doors to its first class of students. A two year liberal arts college, they offer an associates degree in Catholic studies in integrated humanities. They offer in person and online courses, along with dual enrollment courses for high school students. They have partnered with both Ave Maria University and Thomas More College to transfer up to 60 credits (two full years of college) toward a BA.

 

The San Damiano College for the Trades in Springfield, IL is in the formation stage and hopes to be able to start educating students in the next year or so. They plan to initially offer tracks in carpentry, church restoration, electrical, arborist, and roofing trades, with plumbing and HVAC, welding, and masonry to follow in subsequent years. They also plan to offer an associate’s degree in liberal arts.

 

 

Once again, the light of Christ shines forth brightly!

 

To explore getting college prep services from a faithful Catholic, email Katherine today: KOB@CelticCollegeConsultants.com and ask to schedule an initial consultation for your family.

---

[1] https://educationdata.org/college-enrollment-statistics

[2] https://www.collegetransitions.com/blog/college-enrollment-decline/#:~:text=US%20College%20Enrollment%20Decline%20%E2%80%93%20Enrollment%20Cliff%20(Continued)&text=Enrollment%20at%202%2Dyear%20public,54%25%20between%202010%2D2021.

[3] Kate Quiñones, “UPDATE: Colleges with strong Catholic identity see record enrollment in fall 2024”, October 11, 2024, Catholic News Agency website. https://www.catholicnewsagency.com/news/259765/colleges-with-strong-catholic-identity-see-record-enrollment-in-fall-2024 accessed 22 October 2024. https://educationdata.org/college-enrollment-statistics

[4] https://www.bestcolleges.com/research/closed-colleges-list-statistics-major-closures/

[5] https://www.chronicle.com/article/undergraduate-enrollment-is-up-this-fall-but-the-number-of-freshmen-fell-sharply

[6] https://www.catholicnewsagency.com/news/256565/with-every-woman-how-catholic-maternity-homes-are-serving-mothers

[7] https://www.umary.edu/admission-aid/scholarships/saint-teresa-calcutta-community-mothers

[8] https://www.catholicnewsagency.com/news/259207/franciscan-university-launches-new-hub-in-washington-dc-after-multimillion-dollar-gift

[9] https://tucson.catholic.edu/

[10] https://jpcatholic.edu/news_press/fashion-design-program-announced.php All the above are quotations from Quiñones’ article https://www.catholicnewsagency.com/news/259765/colleges-with-strong-catholic-identity-see-record-enrollment-in-fall-2024 22.10.24.

[11] https://www.the-collegium.org/about-us/

15 Huge Financial Aid & FAFSA Mistakes

by Katherine O'Brien (and Jeff Levy)

My colleague, Jeff Levy, shares some significant mistakes families make that can seriously affect their teen’s ability to maximize merit and financial aid.

 

Financial aid and FAFSA mistakes

1. Believing advice from people who aren’t qualified to give it.

I heard from a parent that an English teacher at his daughter’s school recommended “a little-known tip.” At their College Night, the teacher suggested that students select “not applying for financial aid” on their college application and wait until they’re admitted to submit the FAFSA.

This advice couldn’t be more incorrect, unethical, and potentially catastrophic to the family. If you expect to apply for financial aid, check “yes” on the college application and submit your forms well before the college deadlines.

[As a Certified College Planning Specialist, I have been trained in financial aid. I also regularly receive additional training.]

2. Deciding not to apply for financial aid because “we’ll never qualify.”

Most families have no idea whether they will qualify or not. Data consistently shows that many who are the most eligible for need-based aid never submit the FAFSA.

3. Not filing your income tax returns before applying for financial aid.

For current high school seniors enrolling in college in the fall of 2025, the FAFSA will not become available this year until December 1, 2024 because of widespread technical problems that began with last year’s release. Questions on the form will require accurate financial information from the 2023 tax year, and, in almost all cases, those tax returns will need to be provided. [They need to be submitted to the IRS AND processed before the FAFSA filing. During your FAFSA filing process, you will pull data both the parents' and the student's 2023 tax returns right into the FAFSA.]

4. Missing the college’s institutional deadline.

Some parents believe the best way to apply for financial aid is to wait until their student has been admitted. This is exactly what not to do. Be sure to submit your financial aid forms before each institution’s deadline. Keeping track of these can be annoying if your teen applies to many schools with Early Decision, Early Action, and Regular Decision deadlines. But it must be done. Going to each college’s website to gather and collate this information will take you or your child about 20 – 30 minutes.

5. Deciding not to apply for financial aid as a freshman and planning to ask for it later.

Many schools will give a full-pay applicant a bump in the admission process in exchange for the higher net revenue they bring to the institution. If such an applicant unexpectantly [sic] requests financial aid in later years, some schools will not consider that request for institutional aid; others might delay it by a full academic year. Do not make the mistake of “outsmarting” the admission office if there is even a [small] possibility you may require institutional aid in later years.

6. Not having a savings plan for college.

One of the most destructive myths about paying for college is that the financial aid formulas will wipe out your savings. People who advise this are either ill-informed or have a hidden agenda. In the needs calculation, the penalty for savings is five cents on the dollar! The best way to prepare for the cost of college is to save, and the best way to save is to use time to your advantage. Start early and save regularly, even a small amount each month.

7. Taking a work bonus in the FAFSA “base year.”

The most significant factor in determining what a family is expected to pay towards college is their Adjusted Gross Income on line 11 of Form 1040 of their federal tax returns.

Any income that can be postponed from the base year (2023 for students starting college in 2025, 2024 for students starting college in 2026, etc.) to the following year will decrease the applicant’s Student Aid Index (SAI) and increase their eligibility for financial aid.

8. Listing the 529 savings plan as a student asset instead of a parent asset.

Even though the student is the beneficiary of the 529 savings account and the parent the custodian, the Department of Education has stipulated that these savings plans should be listed as parent assets. This is an essential advantage because parent assets are “penalized” about one-quarter as much as student assets in the federal and institutional need methodologies.

9. Accumulating parent savings in a student-owned account.

While this can be a tax advantage, it is always a financial aid disadvantage. You must check with your tax advisor for the best approach. In the financial aid formulas, parent assets are penalized at about five cents on the dollar, while student assets are penalized about between 20 and 25 cents on the dollar. But check with your tax advisor about the best approach for you.

10. Allowing the grandparents to write the check directly to the college.

The FAFSA no longer asks the student if anyone other than their parents has given the student any money or paid any bills on the student’s behalf. So grandparent contributions to college costs is not a problem if the student plans to attend, or is already attending, an institution that only uses the FAFSA in the calculation of need-based aid.

However, any money paid on the student’s behalf from anyone other than parents is reportable on the CSS Profile, a second financial aid form used by about 170 undergraduate institutions. Such a payment or gift will be considered untaxed student income and could significantly reduce the student’s eligibility for need-based institutional aid.

11. When parents are separated or divorced, believing it’s the parent the student spends more time with who will complete the FAFSA.

Beginning with the 2024-2025 FAFSA [the FAFSA for the 24/25 school year], the divorced/separated biological parent who must complete the parent section of the FAFSA is the one who has provided more financial support to the student in the year to date.

12. Borrowing more than you can afford.

College is one of the most expensive purchases a family will make. Borrowing part of this cost to earn a college degree is not an unwise choice, just as borrowing part of the cost of a home can be an intelligent way to make home ownership possible. However, borrowing too much for college can be catastrophic.

Each family will need to decide for themselves how much debt is reasonable. A good rule of thumb is to keep total undergraduate loan debt below what the student expects to earn during their first year out of college. In other words, if students borrow the maximum lifetime limit of $31,000 in undergraduate federal student loans, they can successfully manage monthly repayments if their first job after college pays at least that amount annually before taxes.

13. Not taking advantage of low-interest federal student loans.

Federal student loans are generally packaged as part of the financial aid award. These are low-interest loans with many built-in repayment protections, usually far safer and less costly than private bank loans.

The federal cap on how much a student can borrow over four years of college is $27,000 (with annual caps from $5,500 to $7,500 per year) and the lifetime limit is $31,000. Repayments begin six months after graduation. I recommend taking advantage of this loan program if it helps your family meet the high cost of college.

14. “If she gets into _______, we’ll make it work!”

This thinking usually leads parents straight into the abyss of excessive borrowing. Parent loans (federal and private) have higher interest rates, fees, and stricter repayment terms than federal undergraduate student loans. Parents must think carefully about how many actual earning years they have left before going into substantial debt at an advanced age.

There are often less expensive options for college than high sticker price schools with little financial aid.

15. Not calling the financial aid office when you have a question.

These folks are not the IRS and not your enemy. They are usually happy to answer your questions and can be an excellent resource to help you navigate the complexities of the financial aid system. [Be careful. Sometimes a student worker is the one answering the phone. Be sure to speak with a trained financial aid officer when you call. Even so, remember that their primary job is to help the college meet its institutional financial goals.]

Financial and merit aid resources for students and parents

FAFSA (Free Application for Federal Student Aid)

CSSProfile

 

Link to original article:

https://grownandflown.com/fifteen-biggest-financial-aid-fafsa-mistakes/?