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kgrill

College Discounting Does Students a Disservice - 0 views

www.forbes.com/...ing-does-students-a-disservice

financial aid

shared by kgrill on 07 Aug 14 - No Cached
  • This significant amount of tuition discounting, the wide variation in the amount of aid granted and the uncertainty around the true price results in an imperfect market for higher education and does a disservice to students, their families and American higher education in general. Because buyers can’t know what they will actually pay until the acceptance letter arrives, many students don’t apply to schools that they should consider and others apply to schools that they can’t afford assuming that they will get all the aid they need only to find out that they can’t afford them once accepted. In this last year, 26% of students who were accepted at their first choice school didn’t attend it because they were not offered aid and 40% said not being able to afford their first choice school was a very important consideration in their not enrolling at that school.(The American Freshman National Norms: 2013)
  • First, it is often very hard to find a school’s net price calculator as many bury them deep in their websites. I suggest using the college’s search engine to find the net price calculator. Second, a quick look at some school’s calculators immediately turned up problems—many schools are not keeping their calculators current or not including all aid they award in their calculator.
  • In addition, it is a very labor-intensive process
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  • Why do most private colleges price and discount this way? Most colleges believe that the public relates the sticker price with the quality of the institution and that the higher the price the higher the perceived quality. Second, many colleges believe that students and their families like getting scholarships. Families resonate to scholarships and take it as an indication that the institution wants their child. Third, the larger the difference between the sticker price and the net price the more colleges can charge different net prices to different students; this gives the schools more opportunity to discriminate in their pricing in favor of students who are most desirable to the college. Fourth, many schools are unable to get the enrollment that they need to fill up their classrooms at their sticker price because students and their families are either unable or unwilling to pay the price and thus they must discount the price to get the enrollment that they need for financial equilibrium.
  • kgrill on 07 Aug 14
     
    Eighty nine percent of entering freshman receive some financial aid/tuition discount from their institution
kgrill

Expert Advice: 6 Mistakes to Avoid on Your College Application | NerdScholar - 0 views

www.nerdwallet.com/...akes-avoid-college-application

college application

shared by kgrill on 03 Aug 14 - No Cached
  • When you know what mistakes to avoid, applying to college can be a smooth process that allows students to showcase their accomplishments, personalities and experiences, and win that coveted spot in the freshman class.
  • “The essay is the best way to tell your story. This is where you can be the most memorable and it really is an opportunity to connect your unique attributes and experiences with the vibe of the college or university,”
  • always best for the student to be authentic
  • ...7 more annotations...
  • It is really important to know the school’s deadline and to have everything submitted at least 10 days in advance
  • Applicants should not wait until the last moment to begin the process and then expect every other step to become others’ emergency
  • The purpose of the supplement is to answer questions specifically about the school and what you see yourself adding to the community
  • students should take a personal inventory of the things that are most important to them, as this will help determine what schools will be a good fit
  • it should be the student who takes the initiative in building a relationship with each school
  • people will typically help where and when they can, as long as students take the initiative and ask
  • consider the optional items as a way to showcase your achievements, but generally it is not a good idea to provide materials beyond what the college describes in their ‘optional’ list
  • kgrill on 03 Aug 14
     
    When you know what mistakes to avoid, applying to college can be a smooth process that allows students to showcase their accomplishments, personalities and experiences, and win that coveted spot in the freshman class.
kgrill

5 Steps To Calculating Your College R.O.I. - 0 views

www.forbes.com/...calculating-your-college-r-o-i

college

shared by kgrill on 31 Aug 14 - No Cached
  • “Sticker price and net price can be—and often are—totally different,” says Mark Schneider, president of CollegeMeasures.org, an organization that helps prospective students evaluate schools based on different performance outcomes.
  • The net price is the school’s full cost of attendance—including tuition, room and board, books and other fees students are required to pay—minus any need-based grants or scholarships you could potentially receive.
  • “As long as student loan debt at graduation is less than your annual starting salary, you’ll be able to repay your student loans in 10 years or less,” Kantrowitz says. “But if debt exceeds annual income, you might struggle to make monthly loan payments, and you may need an alternate repayment plan, such as extended payment or income-based repayment.”
  • ...3 more annotations...
  • However, there is a catch: What you pay your freshman year isn’t necessarily what you’ll pay every year. “A school may be able to guarantee you a scholarship or give you a great deal in year one, but you don’t know what’s going to happen in year two or three,” Schneider explains.
  • 59% of undergraduates in a four-year program actually graduate within six years.
  • If you’re dead-set on an occupation that doesn’t pay very well, consider enrolling in a lower-cost college for a better ROI, suggests Kantrowitz.
  • kgrill on 31 Aug 14
     
    Net cost of attendance
kgrill

35 Best Bets for College Merit Aid - Do It Yourself College Rankings - 0 views

diycollegerankings.com/...8921

college merit aid

shared by kgrill on 04 Sep 14 - No Cached
  • 90% of freshman are getting institutional aid
  • merit money to students without need.
  • private schools since they’re more likely to provide non-need based institutional aid
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