Overcoming the First Obstacle to Attending College: Money

Whether you’ve saved for college or not, don’t let your financial limitations stop you from considering college; any college. There are many colleges and universities that offer different educational experiences and they charge different prices. The majority of college students get financial aid to help pay for college costs. Much of that aid is based on financial need rather than grades. But grades are a big consideration in the type and amount of the award. Being knowledgeable and proactive will help you overcome the obstacle of money for college.

Working with the Admissions Department to Budget for College

If costs are a great concern, you should inquire with the admissions department about “nontraditional”, “articulation”, “early college” programs and scholarships; all of which can reduce costs significantly.

If you’re a desirable student, due to your grades, “legacy” status or athletic record, you may have more options.

Every institution has “recruitment goals” and you might fit the profile of what it’s looking for this year; particular if you are a “first generation” or “diverse” (minority or international) student.

If you’re very clear about your major, and you have good grades, make sure you let the faculty of your future academic program know about your interest in the college. Talk with them by phone or meet with them in person, and send them an email. Then, send a copy to the admissions departments, who usually keep track of your level of “expressed interest”. This may have some influence on the admission or financial aid decisions.

Communicate with the Financial Aid Department to Maximize Your Award

Soon after the admission decision is made by the college, the financial aid award will be determined. The financial aid awards begin right after January 1, The college’s federal aid allocations start to get tapped then, so apply early for the best chance to maximize your award.

Some colleges offer a special rate if you commit early (called “Early Decision”) to attending. However, this may affect your ability to compare aid packages from several institutions.

The financial aid policy of the school could become a major factor in your final college choice. Some schools will not meet all of your eligibility for financial aid, leaving you with an unmet need and requiring you to tap more of your family’s resources. Ask the financial aid department for its average “merit-based” (scholarships) and “need-based” financial aid award statistics, or look them up online. Merit-based awards are usually determined by the Admissions department, so it’s important to keep talking with your contacts there, too.

What You Can Control: Planning Your College-Related Expenses

The first step in preparing for a financial aid discussion is to gather your personal expenses and transportation costs. The obvious yearly college expenses are tuition, books and travel or relocation costs. These costs are on the rise for families but the “net cost” of college is actually decreasing. Get a true cost for these by itemizing them.

Beware of hidden costs, such as computers, laundry, parking, gasoline or bus fares. Costs for cell phones, entertainment, groceries, toiletries, clothing and entertainment are often underestimated. Books and supplies for some college majors cost more than others. Other easily forgotten costs include:

• Loan fees
• Study abroad costs
• Dependent care expenses
• Disability-related expenses
• Cooperative education program costs

“Free Money” Sources for College

Many students attend college at no cost; with the help of grants. Grant aid is available from a variety of providers. It’s much better to look for all the grant aid available – and especially to ask about each college’s “institutional grant” practices. Possibilities for grants and federal loans should be exhausted before you borrow money to go to school.

As mentioned, scholarships can be found at each college, but you can search for local or “special interest” scholarships for specific student groups. These may be easier to get, and are not always driven by your grades.

If the college has decided that it wants you, and understands that the costs are out of reach for you, they may offer a “tuition discount”. This practice has become more popular among private schools, as well as public universities.

After you’ve put together these expenses and reported them to your colleges, let the financial aid officer know about any “special circumstances”, especially related to recent changes in family or health status, or job losses. Colleges sometimes offer more financial aid if your family is paying for private high school tuition, nursing-home bills, or the funeral of an immediate family member.

“Independent student” status usually allows for a more generous financial aid package, but it’s only possible if the student is 24 or older, married or a parent, a soldier on active duty, a veteran, or an orphan or ward of the court. However, a “dependency override” is possible if a student has been abandoned or abused by parents.

Middle income families can realize some tax benefits. If you’re not qualified for financial aid, you can still focus on maximizing the tax advantages of saving for college, such as saving in the child's name and gifting capital-gain assets.

If costs still seem insurmountable, you could consider working while going to college. But limit it to 15-20 hours a week, if you’re in college fulltime. Otherwise, research shows that it may take you longer, and cost you more, to complete your degree. Working ten hours or less, though, has been associated with better grades in many cases! You need to keep your academic performance up to maintain or increase your financial aid award.

By law, the college must take all of your resources into account when determining your financial aid awards, including grants/loans, work eligibility or need-based loans. In some rare cases, working can actually reduce your grants or scholarships in your financial aid package. So the best policy is for you to eliminate or reduce your work or loan commitments first, before negotiating your financial aid package.

If you wind up going into the workforce first, you can keep college on your radar screen. You may be able to earn college credit for your employment and life experience. Some schools administer their own tests and standards, while others allow you to take College-Level Examination Program (CLEP) tests for college credit.

Contact us for help with college and career planning, academic coaching, teacher training, and resources.

See the Forest AND Your "Decision Tree" for Your College and Career

One of the first big decisions you’re going to make on your own is what to do after high school. Like all major life decisions, your choices will have results: it will open the door to new opportunities. But it will also have “consequences”. How can you clearly see both the forest (the possibilities) and the trees (your choices)?

The expression “time is money” is never more true than when it comes to choices about college and work. You’ll have to walk away from other things that you might have enjoyed, and that might have been worthwhile. Going down the wrong path wastes your time, costs you money and shakes your confidence. If you’re not happy in college or work, you can always start over, but it gets increasingly expensive to do so.

The major opportunities and limits in your decision-making are easy to understand. Certain choices will be within your range of possibilities for what you’re willing to do, and what you can afford.

But what makes college and work decisions difficult are all the secondary, related questions about work and college: the tradeoffs that you have to make.

As you think about what exactly you can gain, and what exactly you will give up, to pursue your goal, you must be very specific, and the choices are less clear.

Have you answered all of these questions fully?

 Is it better to work first or go right to college? (How do you define “better”?)

 Should I get a two-year or four-year degree?

 Can I get a two-year degree first, get a better job, and then continue my studies later for a bachelor’s degree? Will a two-year degree get me anything?

 Should I live at home with my parents, get my own place or live on campus?

 (What does “should” mean to you?)

 Which of the colleges that I know about are the best ones? What other colleges should I consider? How can I know what college is best for me?

 (What does “best” mean to you?)

 Should I consider transferring from one college to another?

 How can I pick a major? How can I compare the major at one college and another?

 Can I handle the demands of my college studies at this school? Am I ready for college-level work? What if I do ok at first, and then it gets too tough when I’m a junior or senior? What kind of help can I get with my studies?

As you can see, these questions often lead to more questions. The answers turn out to be something like: “It depends”. And that can be frustrating and discouraging. Reflection can be lonely.

Whether you’re headed for a job or to college, an academic and career coach can help you take the fastest path toward work you love and the lifestyle you desire, to recognize your progress, stay encouraged. If you’re highly motivated, you can create a decision process for yourself, too. Either way, as you proceed through this exciting passage in life, remember:

1. Good answers to the right questions will come to you when you take the quality time needed to explore them fully, do some research, and then reflect.

2. Making effective decisions will build your confidence and motivation.

3. Research shows that confidence leads to success in school and work.

Finding your future happiness is worth the effort. YOU”RE worth the effort.

Good answers to the right questions are really what will get you to your life’s goals most quickly. Contact me for coaching help with answering the right questions.

College Major “Clusters”: A Straight-Away Path to Job Planning

According to some experts, high-demand jobs tend to come from a few “college major clusters”; only about 15% of all majors offered. While there are over 300 college majors to choose from, available within 3000 colleges, ultimately leading to over 30,000 job titles, it’s no wonder that so many college-bound students and parents are overwhelmed.

Money isn’t everything, but employability will probably rank high in your mind when you choose a major. Your major won’t get you a job outright, but having it on your resume with a favorable grade point average sends a signal to employers that you’ve got what it takes to do the job successfully.

Your choice of major, though, has some influence on your options in the job market. Down the road, when you choose a related career field in which to pursue a job, you’ll also consider the lifestyle, work conditions, salary, advancement opportunities, and even your own interests.

In the field of academic advising, “college major clusters” are broad categories of academic interest. Getting familiar with “college major clusters” will help you zero in on field of study and improve your chances off success in your academics AND your eventual career. Through surveys or reflection, you can find out what clusters you fit into.

If you’re undecided about your major, it’s a good idea to start by identifying around four clusters. According to Michael Voillt’s “Great Colleges for the Real World,” examples of college majors clusters with high-demand jobs are: “applied quantitative”, “analytical/computational” and “quantitative”.

College majors themselves are more specific so you’ll have to do some research. Look carefully at the coursework. Talk to the professors who teach the classes during your college visit or on the phone. Ask to see the textbook and syllabus. Consider carefully if you can, and want to, do what’s required to good grades in this major and graduate on time.

To get you started, here is a list of 100 descriptions of majors. Try to get down to five majors by a process of rank ordering your preferences. Friends or family could make suggestions based on the list that falls under each of the clusters you identified. Remember that quite a few majors will be compatible with your career interests. But some majors are lead to a very specific occupation (like pre-med or pre-law)..

Picking the major is just the first step. You still have to evaluate the jobs that are associated with it. Will you be successful? If the tasks of the job appeal to you, and the lifestyle fits your needs, again, your chances of success are greatest. But that’s another article!

Here is a neat site that shows the career options that connect with majors at University of Tennessee, including potential employers, specializations and strategies for your plan of study.

Bottom line: Careful planning and reflection when you choose a particular college’s program will pay off. Making the right choices will motivate you and your confidence will grow even more as you succeed in your coursework. And that confidence will lead to success in the workplace.

Contact me at http://www.whatsyourmajor.netfor personal coaching for academic and career success!