Pay for "Play" -- Exposing Corruption in College Admission

It's been quite the week to work in college counseling.

I've been riveted to this unfolding story and have felt shocked -- not at the concept that the wealthy are purchasing their way into college, but that they are doing so on top of the conditions that already exist which make these places more accessible to them than to the traditional applicant. This week has shown that corruption and dishonestly can exist anywhere. I have what feels like an endless list of philosophical and pragmatic questions about how and why a family would go this route, but for now I'm going to comment on a few things that are on my mind right now.

•  At first glance, I wondered why these families would opt to do this when they could instead make connections with the Development Office and make legal donations to the college in exchange for a seat in the class. This kind of thing happens at every campus. But, the more I learned about this case the more it became clear that these people wanted to buy a seat, but they wanted to do it at a discount. The fees Singer charged are still significantly below the size of the donation that it takes to enter a school as a Development special interest. (For context, in the late 1990s, Jared Kusher's admission to Harvard came with a $2.5 million dollar donation.)
• To me, beyond the fraud and the ethics and the morality of what these people did, the issue really boils down to a problem of access and equity. In a universe where wealthy students already have systemic advantages like: going to the best schools, being able to afford tutors and test prep, having parents (and grandparents, and great grandparents . . . ) who attended college, and having the financial means to pay tuition at any college and graduate debt free. With all of this, these people still felt the need to rig the process. Simultaneously, we see Supreme Court cases (like Abigail Fisher in Texas and the current Harvard case) aimed at eroding Affirmative Action. Yet, there have been no such cases aimed at eroding legacy admission, athletic admission, and donor admission.
• I'm so sad that students exploited disability status as a vehicle to cheat. I knew, intellectually, that this happened but to see it in such stark detail and with such sinister intentions is upsetting. There are disabled students who are going to be hurt by this and I hope we can all be united partners in being their advocates.
• I am comforted that, at least so far, there appears to be no involvement within the Offices of Admissions. These bribes when to Athletic Departments and it seems that the admissions side was unaware of the hoax. While this absolutely brings up the flaws in the current system (where recruits are not vetted for athletic ability by anyone other than the coach), I would feel so much worse if I knew that my colleagues on the admission side were included in the indictments.

What next?

• I think this story lends itself to ideal dinner time conversation for families. It is a moment to talk about ethical behavior and a time to reinforce that the brand name of a school is not equivalent to automatic success. It is also an opportunity for parents and guardians to remind their students that their love is unconditional: being rejected from a top school would not change that bond and getting a low test score under honest conditions would not change that bond.
• As much as it doesn't always feel this way, admissions is a consumer product where the power is with the consumer. When you go visit a college, be open and bold about asking the Admission's Officer presenting at the info session about what percent of their admitted class is comprised of recruited athletes. (Note: ask this in the info session, not the tour. I wouldn't think many tour guides would know the accurate answer to this question. Frankly, some staff might not know, but don't let them wiggle out of the answer, let them go look it up after the session ends). This information is well known among college counselors, but I think students and parents would be shocked to learn how many slots are off the table before the application is even filed. (For reference, recruited athletes at Harvard have an 86% chance of admission. Unhooked applicants have a 6% chance). Let me also say that I'm not arguing that athletes are the villains here (the villains are the ones who fake it in exchange for money). The vast majority are being recruited for their talent and we've had recruited athletes from ElRo. They are absolutely bringing something of value to the campus. My issue is more around the idea that schools should be more open about this process so applicants can better understand the landscape. 
• Reflect on why certain schools appeal to you and think about if that appeal is connected to the 'elite' feeling of the place. If the place was exactly as it is today but ranked 120 instead of 20, would you still like it? Why or why not? Open your mind to the concept that the ability to go to any quality college, not just the top handful, is a phenomenal privilege. 

If you want to read more, I think the following two articles are a great place to start:

This article from Bloomberg

This article from Vanity Fair

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Thanks UT Dallas!

Thank you to the University of Texas at Dallas for hosting me on their campus last week in order to learn about the McDermott Scholars Program. Let’s get a few things out of the way first:

1)   I knew nothing about UT Dallas before this trip. I’ve only ever been to Texas once before and as Midwesterner turned New Yorker, it hasn’t been a school on my radar.

2)   McDermott Scholars isn’t your run of the mill merit scholarship for bright students. It is a full service, highly competitive, all inclusive scholarship that includes not only full tuition and room and board but also a stipend, round trip airfare home twice a year for students in the continental United States (1x a year for international), $12,000 toward a study abroad experience, and what amounts to year-round mentoring, enrichment, and cultural experiences both on campus and off.

3)   This school might be too smart for you. Yes, you read that right. If your vision of college is tailgating and creating a class schedule with nothing before noon and three-day weekends, you can save your energy on exploring UT Dallas. You will hate it. See Exhibit A below.

Ok, cool, you kept reading. You want to go to college to learn something and learn it deeply. So now, what is this school and where did it come from?

UT Dallas is a young school. That explains why you might notice the trees aren’t tall, and the library doesn’t have stained glass windows, and there aren’t 80 year olds meeting up for reunions. They don’t have a football team, so you haven’t see them on ESPN. In fact, they are much better known for their Chess Team.  Originally founded in the 1960s as a post-graduate think tank, UT Dallas only enrolled their first freshmen in 1990. Since that time though, they have grown and now they have an enrollment of over 25,000 students, about 65% of which are undergraduates. Admittedly, many students commute but residence life on campus is strong for those that live there and because the college itself is young and the on-campus housing is even younger, the facilities are bright and modern. (For context, there are about 5,000 students who reside on campus full time. Keep in mind though for people worried that is too small of a resident population, you are still talking about the equivalent of an entire small liberal arts college living in campus housing. Yes, it is a small portion compared to the entire student body, but no you won’t feel isolated or alone.).

One of the school’s original founders was Eugene McDermott, a brilliant and generous man who was one of the founders of Texas Instruments (TI). You likely know TI because they have a corner on the high school calculator market. I myself was a proud owner of a TI-82 back in my AP Calculus BC days.  After his death, his wife Margaret continued her commitment to UT Dallas and in 2001 endowed the McDermott Scholars program, my hosts for this trip. (At 106 years of age, she is, to this day, a passionate supporter of UT Dallas).

McDermott Scholars are the cream of the cream. To be eligible to apply, students must have at least a 1490 or 34 test score. Then the expectation is to have top grades, leadership, and character experiences to match. Sixty students are invited to the final round of the interview and ultimately about 24 are selected and attend UT Dallas. There are some strings attached, like being required to live on campus all four years and participate in sponsored trips (both with the group and independently to study abroad). Students in the program pursue research opportunities, internship opportunities, and many go on to apply for and win prestigious graduate fellowships and admission to law, medical, and business schools.

Even for applicants who might not be McDermott material, UT Dallas might still be a great option. Over 25% of undergrads receive some formof merit scholarship and all scholarship recipients are ALSO automatically ableto pay in-state tuition rates, even when they don’t live in Texas. That means that an ElRo student who is strong but might not be McDermott eligible could still attend UT Dallas for less than the price of a SUNY if you are from a family that doesn’t qualify for federal or state aid. (The lowest merit scholarship qualification starts at 1410 SAT/30 ACT –about half of ElRo’s class would potentially be in the running). Unlike a lot of other schools, UT Dallas is also a high quality school that still believes in admitting all qualified applicants. Translation – this is a Likely for many ElRo students who struggle to find places they can be surrounded by bright students AND be guaranteed admission. (I’m looking at you, Northeast colleges who drive application numbers and track demonstrated interest and ability to pay and drive ED apps and EA apps in order to find ways to deny capable students just to boost US News rankings). Don’t believe me? The average SAT is 1320 and the average ACT is 29, yet over 60% of applicants are admitted. Self-selecting pool of bright applicants seeking a highly intellectual environment equals unicorn status of the large school with academically strong student body. And oh, what’s that, you care about diversity? Like many colleges, they have room to improve with African American students*, but 70% of students identify as students of color and I saw real meaningful interactions on campus between people who didn’t look like one another. I’ve been to over 100 colleges and can confirm this is not the case everywhere.

*Note, they do have recently founded chapters of Historically Black Greek organizations, so baby steps are being taken.

If I had to try and categorize UT Dallas I would say it is a place that reminds me of a more selective RIT with students who have the personalities that would gel with kids who attend Beloit. That is to say: a mostly STEM oriented school where learning and relationships are paramount and who see college as a vehicle to a career and satisfying intellectual curiosity. They instituted an honor code a few years ago, so things like trust and honesty are pillars of the campus experience. Admittedly, most students here are from Texas. If that’s a deal breaker for you, c’est la vie. But lots of out of state public colleges (UVa, UNC, etc) have an overwhelming majority of in-state students and it doesn’t stop our students from applying. And before you paint Texas with a broad brush, know that UT Dallas is LGBTQ friendly with gender neutral housing and staff report that both ends of the political spectrum are represented on campus. It should also be noted that both International and Undocumented students are welcome on campus and both groups are eligible for merit aid.

I very much enjoyed learning about this hidden gem of a school and I can only hope that one of our ElRo students would be lucky enough to be named a McDermott Scholar. Many thanks to my hosts for a wonderful experience!

P.S. - Additional piece of trivia, prior to being assassinated JFK traveled to Dallas to give a speech at UT Dallas (though at that time they were not an Undergraduate college) about the US commitment to science and technology.

Boston NACAC - Day 3

I'm eager to return to ElRo simultaneously exhausted and professionally reinvigorated. It is never easy to be out of the office, particularly in September, but the opportunity to participate in this conference and connect with so many other passionate professions is truly a gift. Thank you to the PTA for their support!

Yesterday was the closing day of the conference and I attended three educational sessions.

My first session was called "College Applications-- The Importance of Managing the Helping Parent." The task of trying to encourage a healthy balance of parent involvement in the college application process is never easy. This session went over the profile of six common 'helping' parents and suggested ways to try and redirect toward healthier and more productive behavior patterns. Many of these scenes are all too common at our school and I hope we can continually strive to keep the focus on helping support our students and give them the chance to navigate this potentially stressful process with unconditional support.

The next session was "How America Pays for College" which is an annual look at trends in financial aid and family decisions around college funding. The presenters shared that while 85% of Americans view college as one of the most serious and important investments they can make, only about 20% have a conscious plan for how to pay for it. This disconnect results in the potential for a lot of family discord and challenge. To borrow from the world of financial investing, the panel encouraged us to suggest that the family take a portfolio approach to college applications -- making a list from all ends of the selectivity spectrum in order to diversity options. This not only will result in more acceptances, it also increases the odds that those acceptances will be affordable. One of the most useful facts I learned in this session is that the typical financial aid package provides about 35% of the cost of the school to be covered by grants and scholarships. This leaves the family with needing to come up with the rest of the cost 'pie' via parent contribution, student, contribution, and/or loans. So much of the financial piece has to do with application strategy. I strongly encourage all parents/guardians to have frank conversations with their children about the amount they can/cannot comfortably contribute toward college. Keeping this conversation behind the scenes is a huge mistake and rarely results in a happy home come spring.

My conference ended with a panel called "Holistic Admissions: Friend or Foe." Here they broke down the rather nefarious origins of holistic admissions and also debunked some myths around its current use.  The concept of holistic admission gives the illusion of it being personal and something that is in control of the applicant, but that is not really the case in reality. Admissions offices are skilled at sussing out the elements presented in the application, but they are doing so in the context of the rest of the incoming class. Thus the control is with them, in deciding on the balance of things like institutional priorities, regional balance, gender balance, the balance of leaders vs followers, etc. All the applicant can do is embrace the lack of control and have faith that their personal qualities, the very most holistic parts of their application, will be what leads them on a path to success. Panelist Andrew Flagel from Brandeis put it best when he said "when we reject you, it is rarely about you. It is likely about us."

On to Salt Lake City for 2018!

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Columbus NACAC Day 2!

Today started bright and early with my first in-person meeting of the Coalition Counselor Committee. I shouldn't really call it a meeting, since it was more of a breakfast meet and greet, but it was the start of my day all the same. It was nice to finally put a face to the names on the emails that have come through my inbox during the past year. If nothing else, there certainly seemed to be less anxious buzz about the Coalition compared to last year. At ElRo, I've encouraged only students applying to the University of Florida to use the app this go around, but time will tell how the platform performs during this its first cycle.

My first session of the morning was the overview of Naviance. While they spent a little too much time talking about Naviance for elementary school (yes, that is apparently a thing), it was exciting to get a sneak peek at what is in store for the site. There look to be some pretty overdue cosmetic changes, along with other nice improvements like embedding net price estimates based on income band and letting students know about college open houses and local fairs. They are also working on some pretty powerful data analysis that will allow counselors to predict the relative 'risk' of a student's list (and thus know which students to reach out to first when it comes to troubleshooting).

Next Thursday evening, September 29, I will be sharing with students and families information about the 2017-2018 FAFSA. As such, I wanted to make sure to attend the Department of Educations FAFSA session at NACAC this year. I left the session feeling like the Dept of Ed actually has a pretty decent handle on this rollout and I hope, hope, hope I'm right! We got some nice resources to be able to share with students and I also got the impression that the new FAFSA will be far less complicated than it has ever been in the past. The key for any senior reading this post right now is that you should go ahead and get your FSA ID if you haven't already. Your FSA ID (one parent from the FAFSA will need one too) is your electronic signature and you'll need the ID before you can fully submit the FAFSA. Imagine how crowded that site is going to be on October 1 when the FAFSA goes live? Can you picture it? Ok, now go get your FSA ID right now. Here is the site: www.fsaid.ed.gov

My final session of the day was about working with students with learning disabilities. As we have more and more diverse learners at ElRo, I want to do my best to be prepared to work with them and serve their needs. The session covered a lot of ground but I'll leave a few of the more useful tips here:

• Students who have been previously evaluated with a WISC probably should request a new evaluation once they are 18 because the C in WISC stand for 'children' that tool is not going to serve a student in adulthood. 
• There is a big difference between a "support program" and a "students with disabilities tutoring center". Most colleges offer the latter, often in the form of peer tutors, but the ideal setting for a student with a learning difference is to have a professional special education in a formal support program. About 75 programs have been identified by the presenter and he directed us to the NACAC textbook to see that list. (*I had no idea there was something called a NACAC textbook!)
• A great way to help students focus (especially if they have ADHD) is to have them stand in a 'power pose' for two minutes (recommended pose: hands in fists overhead). This helps release testosterone and combat cortisol - an ideal combination prior to giving a presentation or taking a test. 

The final portion of the day is the annual Counselor College Fair. This is about as overwhelming as you might imagine, with every college present and every high school counselor going from table to table picking up material. It is certainly a nice time to reconnect (and see who has moved schools!) but it is exhausting.

Tomorrow is the final day of the conference and I look forward to a few more sessions before leaving Ohio!

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We're here!

I've already sent out a message to all current seniors and their parents in advance of this 'decision season' but I also wanted to make a blog post as we approach the final moments of the waiting game that is the college application process. This time of year is special because for a large chunk of seniors, it is when they go from hoping they will be picked to being the person doing the picking. It is a quite rapid (and sometimes overwhelming) shift, so if it is the position you find yourself or your child in, don't worry, your feelings are natural.

I always start by drawing attention to this gifts and challenges post that I wrote way back when this blog was in its infancy. I point it out every year because I think the message still holds true. This process is long, and can be exhausting, and can be confusing - but in the end, you'll survive it and probably be better for it. Whether you got into your dream school or are faced with fewer choices than you wanted, I'm confident in your success because I believe in you not in the name of the college on your diploma four years from now. Tape that on a post-it on your bathroom mirror if you have to. Repeat it to yourself as a mantra. In the words of Frank Bruni, where you go is not who you'll be.

While not quite over yet, this has appeared to be a year with lots of waitlisting. Schools do this as a way to manage their enrollment and maximize their stats (to ultimately help an obscure magazine sell copies). If you find yourself in this position, remember that you could always only enroll in one place. Twenty years from now, be it if you were placed on one waitlist or eight waitlists, you'll remember the place you ended up enrolling, not the places you didn't. There is usually no way to predict waitlist movement. Every year is unpredictable - that is, after all, why waitlists exist in the first place. A school could unexpectedly over-enroll (and thus not need their waitlist). A school could see deposits with a great gender imbalance, requiring them to fill beds in a dorms in a certain pattern. Instead of pouring energy into knowing if/when you'll get off of a waitlist - put that energy into two tasks. 1) Contact the college where you are waitlisted and give them a brief but sincere summary of your continued interest and any accomplishments that have happened since you've applied. Only do this if you actually are interested in attending that school more than every other place you got in. This isn't a competition for trophy collecting. If you want to stay on a waitlist "just to see if you can get in", even when you know full well you are picking a different college, please seriously reconsider your motivations. You are being unfair to the college and unfair to the other people on the waitlist who would be serious contenders to enroll. 2) Get excited about the places where you were admitted. Somewhere out there wants you. I'm a firm believer that every college can be a place for growth, social happiness, and academic inspiration. Having a negative attitude from the start is a recipe for trouble. This fall I told you you needed to like your likelys. Now is the time to walk that walk.

Yesterday morning, we had an awesome PTA meeting speaker named Sean Grover. While much of his talk was only tangentially related to the college process, I think a few of the things he brought up do connect to this process. First and foremost, parents/guardians please remember that your children notice everything about the messages you explicitly and implicitly send. If you aren't on board with your senior's college options, it will be hard for them to get on board. The train is leaving the station and we need you on it. Repeat in your household how proud you are of your kids. Even if you've said it before, say it again. Use words. Use actions. Use hugs. Let them overhear you telling your friends. You are building memories every day together. Make this final stretch of the college process a time filled with praise and celebration. Your final visits to admitted student days will be over in a blink of an eye. If you catch yourself bickering or feeling tense as a family, press reset and reminder yourself that this is going to be a big transition and both adults and kids need to be there for one another.

In closing, I don't want to fail to mention another elephant in the room. Money. College is designed to be an investment. In fact, it is designed (in a lot of cases) to be a pretty serious investment. As in the cost of an apartment (ok, an apartment in an outer borough, but you get it) kind of serious investment. Would you buy an apartment without seeing it? Would you buy an apartment without comparing it to the other apartments you could be buying? Would you let a person who can't even legally buy alcohol be the sole decision maker in buying an apartment? I say this because every year I see families who make enrollment decisions with total disregard to family finances. They don't even sit down and calculate the net costs for all of their options-- opting instead to just enroll at the 'best' school or 'first choice' school they got into. This is nuts! You filled out the FAFSA. You did the paperwork and the applications. You owe it to yourself to at least make an informed decision about the exact billed costs at each place and the exact amount of discounts (meaning scholarships, grants, or other institutional aid that won't be paid back) that you are being offered. This doesn't mean you have to pick the least expensive school. But, it does mean that you should at least be making an informed decision. If you opt to take out loans in order to go to a more expensive options, at least understand the exact dollar amounts ahead of time. Sacrificing planning for retirement to pay for school is NOT a smart idea. Enrolling at a second or third choice school in exchange for preparing for the future is not cruel. In fact, it might be the most benevolent thing a parent can do for their child.

Congrats to the Class of 2016! We're here!

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Thanks SUNY Oswego!

This morning I attended a breakfast at the SUNY Welcome Center on 42nd Street hosted by SUNY Oswego. I haven't visited Oswego in person, so this was a nice opportunity to learn more about the campus and offerings in a local setting.

Located right on Lake Ontario, SUNY Oswego stands out from the other 63 SUNY schools in a few different ways. With 6,900 students, it is right in that middle range size wise that allows for some degree of anonymity without finding yourself in massive lecture courses (the average class size is in the low 20s). Maybe one of the best things about Oswego though are the facilities. Sometimes SUNY schools can be criticized, not for the quality of their programs, but for the quality of their physical plant. Because of the timing of SUNY's expansion, the architecture and spaces can sometimes feel dated. At Oswego, they have had the luxury of renovating essentially the entire campus so that things feel modern and up to date. To attend a campus for $21,192 per year (with room and board included in that price) and find all the facilities renovated, it is a pretty nice option in terms of bang for your buck.

Speaking of price, Oswego has a very transparent scholarship system that where many ElRo students would qualify for automatic merit scholarships. A 93+ GPA and 1190+ SAT (Reading/Math) will garner students $4,700 per year, renewable for four years. That $21,000 price then drops to only a little over $16,000 and that is without need based grants like TAP or Pell factored in (for those that qualify for need based aid). When we are talking about minimizing debt, these kind of things are not to be overlooked. Oswego also has a room and board price guarantee where rates are locked in based on the student's freshman year. So there will be no increases in housing costs over the course of the four years. These kind of meaningful commitments to affordability are why in-state schools should be on the radar.

Admitted students to Oswego are invited to attend bus trips leaving from New York City. For more information, go to oswego.edu/bustrip. Round trip tickets on the bus include dinner and cost $36 per person.

I'm excited to have SUNY Oswego participating in this year's College Night at Elro (Save the Date: April 21) so if you want to learn more, I encourage you to attend so you can meet their representative in person.

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NACAC San Diego Day 1

Today was the first official day of the conference. I had the chance to attend an event hosted by SMU, go to two educational sessions, and go to the NYSACAC membership meeting.

SMU, a medium sized university in Dallas, Texas, did an innovative thing by hosting a lecture with one of their faculty in the morning before the conference started. This was an awesome idea, both because it reminded me of why I loved college so much (I was a 'never skip a class' kind of person) and because it let us see one of their best assets in action. Admission stats can be viewed online, but hearing directly from a professor talking about the subject they are an expert in is at the core of the college experience. We heard from Jeffrey Engel, a History professor about the importance and usefulness of the liberal arts - in this case a specific analysis of how the events of 1989 were viewed differently by America, Western Europe, Russia, and China. These viewpoints then have an impact on foreign policy now and illustrate how the lessons learned in the past can be used to gain a deeper understanding of current conflicts. He spoke on how the study of history - a liberal arts subject - is essential to make economic and business decisions. I especially liked his commentary on how while majoring in business might get you your first job, majoring in the liberal arts is what will get you your first promotion. This is due to the ability to read critically, write well, link interdisciplinary ideas, and see things from a broader context. SMU has about 6,500 undergraduate students and 5,200 graduate students on a campus that looks like something more out of the southeast -- thing white columns, brick, sprawling quads, etc. There are five undergraduate schools: Humanities & Sciences, Business, Engineering, Arts, and Education & Human Development. Dallas offers one of the best placed in the country for job opportunities and the campus is the home to the Bush Presidential Library (the only campus to be able to say they have a Presidential Library on campus). I couldn't help but notice that SMU consistently brands itself as SMU. I'm not sure if it is intentional to avoid boxing themselves in as Southern and Methodist or if it is just habit to use the letters instead of the full name. I am curious though to know how a New York City student would fit in. It was encouraging to hear that on pretty much every metric, if Rice is the number one private college in Texas, SMU is right behind them at number two. Considering about 50% of students are admitted, like USD earlier this week, this is a nice target option for many ElRo students. Reliable academics without insane competition for admission.

The first session I attended was the one on the Common Application. I like trying to attend this one every year so that I can be in the know when students ask me questions. I think most counselors would agree that one of the most exciting changes for this year's site is the ability for students to preview the application, page by page, without going through the motions as if they are going to be pressing submit. This reduces stress and allows students to see how the page will look to the reader. It was also nice to hear about some new initiatives for providing help via both phone and online chat - though it wasn't clear if this was only for counselors or if was also for students. It was also revealed that later this year there will be a Common App App for iPhone that will allow students to track their deadlines and organize their 'to do' list. While it isn't an app that will allow for editing of the application (this makes sense) it will help students as a companion to the web based application site. The final piece of useful information that I gleaned from this session was a new turnkey site for counselors to get ready-made lessons to help support students in filling out the Common App. This site, called Common App Ready, is something we could maybe use in Advisory to help further give instruction to students about how to be more comfortable with the site.

The second session I attended was called 'Behind the Curtain of Financial Aid.' While I'm not sure it was a full peek behind the curtain (this, by design, is kind of hard to do in a panel setting because the inner-workings of aid are different at every single school), it did help me connect a few things that I think are helpful in navigating the financial aid website. The first thing that I hadn't fully connected before was the idea that two schools, both that say they meet 100% of demonstrated need, can offer the same family significantly different packages. This has to do with the fact that while the Federal EFC from the FAFSA is constant at both schools, the Institutional Methodology formula for institutional aid is different at every school. So even if both schools require the CSS profile, they may or may not weight certain factors in their algorithm and that can skew things for the student. So, it behooves the student to research ahead of time how every question on the CSS is, or isn't, used by the college if they are trying to create a list that will yield maximum aid. It was promising to hear about a website that the presenter found helpful in looking through the data surrounding aid and packaging - in fact, the session crashed the site with so many people logging on to check it out. The site is called Common Campus, but I was disappointed to see (once the site was up and running again) that it is a subscription service.

The day of sessions ended with the annual NYSACAC meeting - a gathering of NY professionals from both sides of the desk. It is always great to see so many familiar faces. This year, the NYSACAC conference is being held in Staten Island at Wagner College, which means I may have a chance to be able to participate. I can't wait!

Tomorrow is another long day - starting off with the Keynote address from Sal Khan of Khan Academy!

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FAFSA Info Night Summary

Thanks again to Anthony Becker for once again generously taking the time to present to our students and families about the FAFSA and financial aid application process. The Financial Aid application process can be tedious and confusing, but approaching it with a clear understanding of how the forms work is the best way to maximize your chance of getting aid. Remember, all the FAFSA does is calculate what the government thinks your family can afford to pay toward college each year. This calculation is done assuming that you are going to change your lifestyle in order to accommodate a $5,000-$60,000 purchase (depending on the cost of the college you are looking at). If you want to pay for college and not change a single thing about your lifestyle, be prepared for that to be very very difficult. Look back at your spending for the year. You might be able to identify some of that 'extra money' the government has determined that you have.

I couldn't possibly cover all of the issues that were brought up in a single blog post, but I do want to try and put some key themes below:

1) The FAFSA is required by all colleges if you are applying for financial aid. This is the government's form that determines the estimated family contribution. Colleges then use this EFC to decide how much and what type of financial aid they are able to give you. Only US Citizens and Permanent Residents can submit the FAFSA because it is a federal form. Sometimes international students are asked to fill it out and mail in a hard copy so the college can calculate an EFC, but international students will not be eligible for federal financial aid dollars. The FAFSA is mainly used to determine eligibility for federal and state aid (aka Pell grants, SEOG, Work Study, TAP, etc).

2) Some colleges ALSO require a CSS Profile. This online profile assesses assets in a different way, but is also intended to give colleges a full picture of the financial situation of the family. The CSS also includes a non-custodial parent portion if the parents are divorced. Most colleges that use the CSS are private colleges and it is mainly used to determine eligibility for discounts from the college (aka scholarships and school based grants).

3) Never use fafsa. com - ONLY use fafsa.gov  - you should never pay to submit a FAFSA - the first F in FAFSA is free. Do not get your identity stolen.

4) A lot of concern was expressed around 529s. Having a 529 is a great idea for families with high income and lots of assets. For these families that are not eligible for need based aid, a 529 is a fabulous idea to make dollars go the farthest when it comes to education. Unfortunately, for the majority of families though, having a 529 just means that you have an asset with huge red letters on it that says 'money for college.' The college is going to expect you to draw down that account first before they go into their own pocket to give additional financial aid. If you think about it, it makes sense because it is hard to tell a college that you can't pay the tuition when you have an account sitting there that can only be used for said tuition. In a perfect world, a crystal ball 18 years ago would have let people know how quickly tuition was going to increase, but it is what it is. If your child is young, you may still be able to unwind the 529 with the help of a professional to move that asset somewhere to protect it. If this isn't an option, don't be too upset though because many colleges still gap in their financial aid packages regardless of if a family has a high EFC or low EFC. In other words, don't spend too much time lamenting the fact that you tried to save for college. The grass on the other side is most definitely not greener.

5) You must submit your FAFSA in January of the student's senior year. If your child is not a senior, you cannot fill anything out now. You should fill out the FAFSA with estimates of things like income and taxes, then complete your taxes as quickly as you can (read: NOT in April, way before April), then log back in to the FAFSA and update your numbers with your final tax information. Do not wait to start the FAFSA until your taxes are done. Being last in line for financial aid is not a good place to be.

6) Just like all the different types of people out there in the world, there are also lots of different types of colleges, each with their own financial aid methodology. Some schools give no merit aid whatsoever but meet 100% of demonstrated need. Other schools gap some families tens of thousands of dollars, but award very generous merit scholarships to students with the top grades and test scores in their applicant pool. Others still don't give tons of aid, but have a lower total cost which makes them most affordable even though they have low discount rates. How can you sort through it all? Start by filling out the net price calculators on the college's individual financial aid websites. This will give you a preview of the type of aid you might be able to expect.

7) As I mentioned earlier, part of paying for college will probably mean changing your lifestyle. Every dollar that you can avoid taking in a loan is a dollar that your future self will thank you for. I know many people feel like they are already living paycheck to paycheck, but what sacrifices are you making to improve your financial situation during the years that there is a tuition bill? For example, at ElRo we are having a lunch crisis where so few students are eating in the school cafeteria that the city told us that we might no longer be able to staff the kitchen. Almost every ElRo student leaves school mid-day to buy lunch outside. At one of the cafes nearby (that I admittedly also go to) it is easy to ring up a bill of over $10 a day. Multiply that by 5. Now by 40. That is about $2,000 on lunch per year. Full price school lunch is $1.75. That comes out to about $350 per year. Yes, it is a sacrifice to not get the cafe lunch. But the colleges are expecting that you are making sacrifices in order to invest in education. (Other common sacrifices might include things like: taking public transit instead of cabs, eating dinner out less often, canceling cable, eliminating Starbucks, etc).

When looking into financial aid always read the directions clearly and always stick to advertised deadlines. It is a system that can be navigated, but it does take time an effort. We didn't talk about outside scholarships last night, but that is another thing that far too many students ignore. It is hard to tell a college that you are broke and then have a student who has applied to zero outside scholarships. It is true that scholarships usually can't pay for all of college, but it is often possible to piece together a few hundred or a few thousand dollars. 

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CT College Visits - Day 3 (Delayed!)

Sorry it has taken me a little longer than it should have to get day 3 of my CT trip posted, but the end of the school year is busy!

Our final school that we visited was Trinity College in Hartford. It had the most urban location of the five schools that we saw. Trinity has about 2,300 students and is conveniently located only about two hours from both Boston and NYC. Despite the name, Trinity is independent of religious affiliation so don't let that be a deal breaker if you were making assumptions. While they are need-aware in the admissions process, they do meet 100% of demonstrated need for admitted students. That means no gaps in financial aid packages for those that can't afford the full cost of tuition.

We didn't take an official tour, but my impressions of our walk around campus are that this is a great fit school for students looking for a traditional liberal arts school (chock full of historic buildings and a longstanding academic reputation -- Trinity was founded in 1823) that is not located in the middle of the "country." Considering I've had some students tell me that they think Westchester is upstate, I think Trinity is a great way to leave New York City without feeling isolated or overwhelmed by nature.

Josh is Famous!

Congrats to Josh, ElRo Senior, for being featured on Fox 5 talking about the new STEM scholarship. Some powers of fate must have been at work, because what are the chances that the person Fox found on the street outside ElRo would be a graduating senior, going to a SUNY, who is eligible for this scholarship? Our fingers are crossed for you too Josh!

ps - Anyone who attended College Night should also recognize Michael Turner from HESC!

Looks like we made it!

 In the coming week, the vast majority of college admission decisions for the Class of 2014 will finally be revealed. In fact, most schools released decisions by the end of last week (though you wouldn't know it from Naviance - I'm looking at you 50% of the class who has indicated the decisions are unknown!). So now the tables are turned and students who only weeks ago were crossing their fingers trying to look as admit-able as possible are now being courted by colleges who are now the ones with their fingers crossed.

Every year, I republish this piece about gifts and challenges. I'm not going to copy and paste it again, but I encourage everyone to click on the link to read it.

My biggest piece of advice for the month of April is to do a full comparison of ALL college admission decisions. Too often, I see students get into their 'top choice' and automatically decide to enroll. They do this without comparing the financial aid packages and this can be a mistake with pretty serious consequences. I can't take your top choice away from you. That comes from deep in your gut. But, is your top choice really $15,000 a year better than your other choices? Is it really $60,000 better (because that is 4 x $15,000 and also happens to be more than what your starting salary will probably be)? Taking out loans is serious business. Having parents considering liquidating their 401k or retirement funds is even more serious business (spoiler alert - this is a terrible idea - just ask the WSJ). It might take time to come to terms with enrolling at a school that wasn't your dream school. But, it might take longer to come to terms with the consequences of making this decision without considering all financial and emotional ramifications.

I also want to take a moment to recognize all the great news that students have been getting. It isn't all about paying for college or coping with disappointment. It is also about screaming from the rooftops when you get in and you are pumped about it. :)

The time to file the FAFSA is now

2014 is here and for seniors this means that you should be completing your FAFSA in order to be considered for Financial Aid. If you want to pay full sticker price for college, you can stop reading right now. If you don't, you need to use this month to be VERY thoughtful about meeting each and every deadline associated with financial aid at your colleges. Remember when I recommended applying to 10 schools or less? A reason why is that it is difficult to keep 12 or 15 or 18 financial aid policies straight. It is your responsibility to research and understand the financial aid requirements at the colleges where you applied. Don't be left in the future regretting that you didn't know the CSS was due or thinking the FAFSA deadline was the 15th when it was really the 1st.

Remember - NEVER pay a company hundreds or thousands of dollars to complete the FAFSA for you. And the real authentic FAFSA website ends in .gov not .com or .net. You should not use the FAFSA links that are ads at the top of your google search. Your personal financial information is required for this form, only complete it on a secure platform. This should go without saying, but I also do not recommend working on this via your phone, the small screen is not suited for this task.

The link below is posted on the government's website about common FAFSA mistakes - check it out and happy filing! They also mention that the IRS data retrieval tool will go live in early February. As a reminder, this is NOT the year to file an extension, get those 2013 tax returns completed as soon as you have all of the documents you need!

https://www.ed.gov/blog/2014/01/7-common-fafsa-mistakes/

FAFSA Information Night

The annual FAFSA information night with certified financial planner Anthony Becker will take place this Thursday, December 5, at 6:00 pm in the Michael Stolz Auditorium at Eleanor Roosevelt High School. Any senior (and their parent/guardian) who plans to submit a FAFSA in January to apply for financial aid for college should attend this meeting. It is also STRONGLY recommended that any junior family interested in financial aid attend so they can get a preview of the types of questions they will be asked a year from now when they apply for financial aid.

See you there!

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Nov 1 is knocking on our door!

 The first big wave of deadlines is upon us, as November 1 is next Friday! But now is not the time to stress - remember, every single part of this process has detailed instructions available so nothing should leave you guessing. Have questions about Financial Aid? That is what Financial Aid portions of college websites are for. Common App giving you trouble? Check the Known Issues page to learn if your problem is already in the queue to be fixed. Here are some tips for this final week of October - let Halloween be the scariest part of the season, not college apps!

1) I've already sent this out to every senior and senior parent/guardian, but I'll remind you again. If you are applying EA or ED somewhere, be sure to check their Financial Aid instructions (on their school specific website) to see if a CSS Profile is due. The CSS Profile (more info here) is a Financial Aid packaging tool used by some schools and it is often due in November if you are an EA/ED applicant. If you want to be considered for Financial Aid, get this completed on time! Not every school asks for the CSS profile, so you'll need to double check for yourself to see if it is needed. You now start to see why I don't recommend applying to more than 10 schools . . . .

2) Deadlines are guidelines for the latest something can be completed, but they shouldn't be a sign to you that you need to wait that long to get something done. Even if you are applying Regular Decision with a January deadline, you should absolutely be polishing your essay now. With that said, some schools are being flexible with their deadlines due to the Common App shenanigans. This is a happy benefit of the new launch, not something to rely on or use as a crutch.

3) If a student is applying Early Decision via the Common App, the parent/guardian must digitally 'sign' their ED agreement. The place to do this is sent to you via email, but unfortunately the Common App does not have the link the is embedded in the email identified as a hyperlink. Don't let this fool you, use your cursor to find the hidden link so you can complete the online signature. That will then allow me to complete the counselor portion on time.

4) Deadlines are for students at 99.9% of colleges. I cannot force your teachers to get their letters done earlier than they are due. Heck, I can't even force them to get their letters done when they are late! Don't let yourself get stressed about the parts of this process you can't control. Be happy with your essay. Triple check your Common App. Verify that you spelled things correctly and that you are working hard in your senior classes. Don't stress over the school documents. I get to do that ;) Just be sure your Naviance account is up to date and the correct rounds of admission are listed.

5) Many of you re-tested for the October SAT. You are getting your scores back this week. You should order your score reports immediately when they are available. It can take weeks for the score to get to the college, they are prepared for that, but you should not let any days go to waste. You can (and should) also go ahead and send your scores to any school where you know they eventually need to go, even if you haven't applied yet. Do not be tempted to rush your scores. This is a con by the Common App to squeeze even more money out of you. Just send them regular. Rushing them costs more and just means they will arrive on paper and sit in a mail room until a human opens them. Sending them regular, they will be transmitted electronically.

6) The Common App essay can be edited twice after it is submitted for future schools that you submit to, but I don't recommend that you submit a draft that you aren't happy with. I get the sense, based on the volume of questions, that some of you are planning to just get something down on paper for your EA schools and then keep revising your essay for the schools you are applying to Regular. Why are you doing this?? Use time management to plan ahead and get things ready for all schools. Yes, if you find an error and can correct it for subsequent applications, be my guest and fix it. But to send a "rougher draft" to some EA schools and a "final draft" to other RD schools is not encouraged. I get it, you can keep refining and refining for weeks, but write your essay, edit it, and call it a day. There are always supplemental essays to obsess over. . . . .

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NACAC Toronto - Day 3!

Today is the final day of the conference here in Toronto.

My first session of the day was about Naviance. It was designed to let colleges see what counselors see on their Naviance screens and to let counselors see what colleges see when they receive documents online. A Hobsons representative (aka the owners of Naviance) was also there to give some updates about things that would look different this year in terms of the site's functionality. One issue that was raised had to do with additional letters of recommendation. What was shared is that every individual college has their own policy on if these letters are downloaded. And, a strong word of warning was sent out that if students do have non-academic letters sent it should be done with the knowledge that it could potentially trigger the application to be marked as complete (say if the school requires to letters and the second letter to arrive is the non-academic one) potentially leading the college to get only one academic letter during the review process. This does reinforce my general hesitance to encourage students to submit extra letters - but it was interesting to see it from the college's portal side of things. This panel also included a glimpse into the online reading that goes on at Franklin & Marshall. F&M uses a company called Slate to do their reading (a company I had just met the day before at the exhibitor fair, who got rave reviews from my former colleagues at Fordham). Wow -- has this industry changed in only a few short years. When I was reading files 7 years ago on paper, I never would have imagined the industry could change this quickly. Counselors now have the flexibility to read files on an iPad. I used to bring bags of files back and forth on the D train. Amazing! The presenters did a nice job of keeping the audience engaged and it was hard not to grin when the Hobsons rep's intro music was the Imperial March, seriously. Of the things she mentioned, it is important for us to take note that online Early Decision agreements can now be completed without the parent portion being done. This is good news in that I won't have to wait in order to do my part. But this is bad news because if a parent forgets to submit this I won't get a bounce back error letting me know. The responsibility is going to on the student more than ever before to verify that all portions of an application are complete. You've been warned!

My second session of the day was probably the most anticipated educational session of the conference: The Common Application Redesigned: An Open Forum. People obviously remembered the session last year, and how crowded it was, because people lined up like they were waiting for the next iPhone -- scratch that - like they were waiting for a free giveaway of the next iPhone. I was very happy to get in and get a seat. I can't go through every topic that was discussed but I think the biggest takeway for current seniors is this: prepare to be frustrated. And I'm not even trying to by cynical there - I'm really saying that this application was totally revamped and since you are the first class using it there are going to glitches. Many many glitches. Just know that you are probably experiencing the same glitch that many other students are experiencing and you will need to have patience in getting things sorted out. The good news is that 24/7 support will be offered starting October 1 - but as was the case before this help is going to be via email, not phone. There is also a helpful 'Known Issues' page where the Common App is listing major bugs they have found and the status of the solution. One thing they mentioned in particular is an issue where a student has completed all required elements of a section but the green check mark isn't showing up. They said this can easily be resolved (it is a bug, not anything the student did wrong) but that the STUDENT -- not the counselor or parent-- must contact the Common App support for them to fix it manually. A second word of note is that the FERPA confusion we experienced has been happening on a very large scale, but that once a student does complete the FERPA waiver it cannot be changed. So select carefully. They said they give students multiple pop up messages if they do not waive the rights just because it is so rare and they want students to know that they are in the vast minority. When the Common App sends you a pop up - read it! Another hot button issue had to do with the fact that in its current state, in order to see a print preview of the final application's PDF a student must first click on a button called 'Submit.' This is confusing to students because 'submit' sounds very final, even though the next page will include information about getting a print preview copy. I got the impression that The Common App people were genuinely listening to this concern and I'm betting this button gets updated before the end of the cycle with something to indicate that there are additional pages beyond the submit button that will be prompted to proofread. The issue of outside recommenders was brought up in this session as well. Here the strong recommendation was for academic recommendations to come through the school counseling office and the outside recommenders to use the Common App recommendation forms and procedure. If you are a person that is going to require a third outside non academic letter, see me if you need help deciding how to go about this. I could go on and on with other updates but the final two things I'll mention are that 1) a general resume upload is no longer an option and 2) the personal statement can't be cut and pasted directly from word because the formatting will not translate. The resume issue is mostly driven by the fact that colleges felt students should be able to explain their resume via the existing Common App and that colleges who were interested in seeing a resume could allow for document uploads on their individual supplements. Those that don't allow a resume to be uploaded are sending the message that they don't want to see resumes. In terms of the personal statement, since it is not a good idea to type the entire thing into the box on the CA itself, the recommendation is to complete and edit the essay in word, copy and paste it into a non-word program like Notepad, then copy and paste from the notepad into the CA. Weak sauce, but it is what it is. The other major bombshell dropped at this conference is that the same delays student users are finding with the CA are also happening for the member colleges. Member colleges do not currently have access to student applications that have been submitted and they have been told not to expect access until mid-October at the earliest. This means that if you submit your application, give me a transcript request form, see in Naviance that I've submitted your initial materials, and then call the college to confirm you could very well be told that your application remains incomplete. This is not going to reason to panic this year. We are ALL going to need to be willing to wait as the CA works out these kinks. This could even potentially trickle down to mean delays in EA and ED notification and will most certainly mean longer hours of reading for admissions officers during the month of November. Time will tell.

My final session of the day was about institutional aid (aka merit aid) and the ethics and standards recommended by NACAC. Technically this session is designed for post-secondary members but I sometimes find it useful to cross over and attend these types of things to gain valuable insight as to how things run from the college side of things. It is always useful to view things from a different lens and this session shed some light on some interesting topics when it comes to awarding money. Seeing some highlights of the statement of principles of good practice was really fascinating. For example, I didn't know that it says in writing that best practice is for colleges to not offer financial incentives to ED students that are not also offered to RD students. (I'm curious in fact though if the reverse is also the standard - is it ethical to offer RD students aid that ED students are not offered?). There is also a provision that states that colleges should not offer merit aid incentives to students who are committed to attending other schools (in other words no poaching) - but this has interesting interpretations and applications when it comes to the waitlist. It got me thinking, is this part of the root of why coming off the waitlist almost always means being a full pay student? The other part, of course, being that you were a borderline candidate to start with and colleges hold the upper hand by admitting you at all. If there could be one takeaway from the panel though it would be this - a quote from a panelist from a large land grant public university - "merit aid is about the institution, not about the kid." I know it sounds harsh, but it is the cold and hard truth. With the exception of the truly elite merit scholarship (and honestly, even then it is still about furthering the institution by enrolling a top student, not rewarding student accomplishments), most free money given to students by colleges via financial aid packages is about enticing you to enroll, not about recognizing or honoring your achievements. It is called a scholarship but it is really a calculated risk by the college to try and discount the tuition enough so that you'll enroll. As she put it, most colleges do not have "rewarding the student for their accomplishments in high school" as part of their mission statement. Admission and financial aid is a complicated dance - this session brought up some interesting ideas and definitely got me thinking in new ways.

I've already rambled on here for awhile, so I think it is best to sign off. I look forward to my return back to school on Monday where I can continue to think about the things I've learned and can jump back in to working with the class of 2014. I'm always thankful for the opportunity to learn more about this industry and I'm more energized than ever to see how this year's application cycle goes.

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Best Website of All Time

Ok, the jury might be still out on the 'all time' award -- but boy is this website a useful tool. College Reality Check is a transparent way to look into college data and potentially help students and families guide their college search. A few caveats:

1) This data is based on AVERAGES - a net price you see listed should NOT be assumed to be the cost you'll be given. Remember, Financial Aid is based on a lot of factors, not just income. Your true price could be higher or lower than the amount listed on this site, but this site CAN be used to give you a general sense of if a school leans more toward the affordable or expensive side.

2) Use the graduation data as part of the picture, but not all of it. It is great for colleges to be held more accountable for the percent of students that actually attain a degree. However, I think most students would be shocked to see how common it is for students to not finish college. You'll see that the national average for college graduation is a mere 33.3%. Yes, there are some schools with graduation rates well above 90%, but the playing field isn't level - it is easy to have 90% graduation rate when you are an Ivy League school who starts with students that are already predisposed to being academically motivated AND where a strong endowment can make sure that students don't have to drop out for financial reasons. The converse of this means that the graduation rate at community colleges also has to be taken with a grain of salt -- only a small fraction of community college students earn an Associate's degree. Why might that be? Well, for starters, the mission of community colleges is to have much more open enrollment than a more selective 4 year school. That means that there is a trade off where these colleges take a hit on graduation rate in exchange for giving everyone a chance to succeed. Plus, many students use community colleges as a springboard for transferring to a 4 year school. Maybe the student only spends 2 semesters there then moves on to get a bachelor's degree? The community college doesn't get credit for graduating the student (because they didn't award them an Associate's Degree) but they did serve as a conduit for that person to eventually earn a degree somewhere else. When you add the transfer rate to the graduation rate many community colleges DO meet that 33% national average. For ElRo students, also consider that since you are coming from a rigorous high school you have a much higher chance of being part of that graduating cohort. Lastly, many community college students are enrolled without the intention of earning a degree (they may be adult students taking a few classes after retiring from a different career, they may be part time students taking classes for enrichment, etc).

3) Remember to look at all the data - not just one piece. One school might have a higher graduation rate, but if the cost is also higher that graduation rate might not apply to you if you have to end up dropping out because you can't afford it. Another school might be a few thousand dollars more expensive but the starting salary for graduates might be $20,000 more per year - potentially making it worth the investment.

4) One flaw I see on this site is it doesn't seem to take into account in-state vs out-of-state costs at public colleges. I wish they would show a breakdown of how residency impacts net price. Maybe for version 2.0  . . . .

Davidson Tour - Part II

Downtown Charlotte, outside the art museum!

I'm back in NYC now, but wanted to add some additional comments about the rest of my time in Davidson, North Carolina. As you read in my first post, a key theme at Davidson is trust. But that word goes beyond their honor code, it also relates to the Davidson Trust, a pledge made by the school to have need-blind admissions (even for the Waitlist) and meet 100% of demonstrated need for every student. That translates into a no loan policy (unless a family feels the need to take a loan to cover the estimated family contribution) and a major commitment to making Davidson affordable for every student that is deemed eligible to be admitted. In the realm of financial aid, Davidson is also part of a small group of highly selective schools that do still award merit scholarships to about 10% of the class.

(Intrigued by the idea of schools that have no loan policies? Read more about that here)

In addition to learning more about Financial Aid, we had the opportunity to hear from a panel of students, attend a class, and have a candid conversation about the admission process. Here are the main take aways:

--- Something is working because the students we heard from (both on the panel and throughout our time there) were off the charts impressive.

--- The file reading process is deeply methodical - with counselors having a shockingly small reading load (compared to the 1800 files I used to read per year when I worked in College Admission . . . ). What does that mean? It means that they take care to pick the students they think will truly be a good fit for Davidson.

--- They really want to hear from students when there are questions or issues with the application. Parents, I know we talk about letting the student be in the driver's seat, here is an example straight from the Dean of Admission of them saying they do not want to hear from you. The applicant is the one going to college, the applicant can pick up the phone and call with questions. Don't kill the messenger.

--- Davidson is a school where ED does fill a significant portion of their freshman class. You can read more about my thoughts on ED here, but before you get nervous or upset if you don't like the sound of their stats -- think about it for a minute. This is a small liberal arts school with the highest alumni giving rate in the country. Having an applicant say they will come if they are admitted is a meaningful declaration and, for a place with such a serious honor code, it isn't the right place for everyone. One can't be surprised if a lot of the applicants they end up admitting feel it is the best school in the country for them.

Long story short - if you are thinking about small liberal arts colleges, care deeply about academic integrity, and are willing to leave the Northeast, Davidson should be on your list of places to research and visit.

Happy New Year!

Source: lavieboston.files.wordpress.com via Jennifer on Pinterest

Happy New Year from the College Office!

Senior students and their families - don't forget, the FAFSA goes live tomorrow - gather your documents now and go to www.fafsa.gov tomorrow. Haste makes waste though - so don't rush through the form. Call the help line if you get to a question that you don't know how to answer. Use last year's taxes and the final paystub from 2012 to complete the form now. Then resubmit later in the year once your taxes are complete. 

Financial Aid Wrap Up

 

This week there were two Financial Aid related events taking place at ElRo. On Tuesday, I presented an assembly to the senior class (their last college assembly ever!) to explain the basics of the financial aid process. Then, last night, Anthony Becker returned to our school to explain to parents and guardians how to fill out the FAFSA form (completed in January of the student's senior year).

Here are some highlights from both presentations:

-- Financial Aid consideration is like a big conveyer belt - you want to get on as soon as you are able and you want to stay on by completing the forms correctly and on time. The early bird gets the $$$.

-- For any student looking to get any sort of financial aid (including both merit aid and need based aid) they will need to complete the FAFSA in January of their senior year. Then, some schools also require the CSS Profile in order for the school to get a more accurate glimpse of your family financial status. Neither form actually gives dollars - both are just a tool used by financial aid offices to determine your family's estimated family contribution (EFC). Then, each college can use their own algorithm to create a personalized financial aid package for you.

-- WAY too many people enter the college process expecting for aid to cover the entire cost of college. Don't hold your breath. Just like any other $20,000 to $200,000, purchase most families are going to HAVE to change their lifestyle in order to accommodate that type of spending in their budget. Loans are going to be a reality for most families. The key is making sure those loans are minimized as much as possible ($5,000 a year in loans? Pretty reasonable. $25,000 a year in loans? Avoid, start over, pick a different school, you will regret it.)

-- The FAFSA should be completed in January using income totals from the last pay stub of the year and estimates from the family taxes the year before. Don't wait to submit the FAFSA for the first time until your taxes are complete. Submit in January, then amend and resubmit later in the year when the taxes are prepared.

-- Different schools are going to offer different packages - and your EFC may or may not be a number you feel your family can actually afford. That is why having a wide range of schools on the list is essential so you can compare the costs and weigh the pros and cons before picking a school.

-- When in doubt, read the directions. ALWAYS double check your FAFSA answers and don't rush. The FAFSA can feel overwhelming, but most questions are pretty straightforward (ie - they tell you what line number to look at on your taxes). Don't let yourself feel pressured. Have all your paperwork in front of you and never guess on things like social security number or legal name - that will bump you off the conveyor belt - a big no-no. Questions? Use resources like the FAFSA help line or the college's financial aid website and office staff to understand the process and forms.

-- If the parents of the student are divorced, the household where the student lives the most is what goes on the FAFSA (including any step parents and their income if the parent is remarried). The CSS Profile goes one step further and asks for the non-custodial parent's household income information, so in that case both parents information will be required. Even if family relationships are strained, this is not the time to dig in your heels. Come together for the sake of the financial aid package and be cooperative and cordial. It will pay off - literally - in that it will keep the child's financial aid application 'on the conveyor belt.'

Anthony is a Certified Financial Planner.  While the FAFSA is free to file (always use www.fafsa.gov NEVER .com) some families benefit from working with a financial planner to adjust their assets in order to qualify for the most legal amount of aid. These appointments are best had BEFORE the child is a senior. But, sometimes adjustments can me made though even as late as December of the senior year - so if you think your family needs help and can afford to work with a professional (rates for the meeting run between $250 and $300 for a meeting) it is worth it to make an appointment. Anthony's number, should you want to schedule an appointment, is 914 722 1777 - or feel free to speak with your own financial planner. The families that usually benefit most are those in the middle income range, who make too much to qualify for much need based assistance but still have a household income that prevents them from paying for a private school tuition out of pocket. A financial planner probably won't make tuition free, but it might knock off a few thousand a year, which adds up over time.

The good news? Most families do NOT pay the sticker price for college and way more qualify for aid than think they will (including those with 6 figure incomes). Don't let a price tag be the factor that removes a school from your list. Having a wide variety of selectivity ranges and cost ranges as a part of the college list will be the best way to make sure that you have the most options to choose from.

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