So, you’ve been accepted to several schools and you have a decision to make before May 1. What are you going to do?
1. Create a spreadsheet and write down all the pros and cons of the schools.
2. If cost is a factor, estimate how much it will cost over four years and if you have the money and/or are prepared to incur debt. No matter what, college is an investment in your future!
3. Visit the campuses. Many schools have admitted student receptions or open houses. Some may even have an overnight program to better acquaint you to the academic and campus culture.
4. Talk with current students, alumni, and faculty. Find out what’s going on with their campus by picking-up the student newspaper or reading it online.
5. Be patient and wait till you are ready to make a decision. This is an important decision, and needs to be carefully considered. Talk with people that know you the best – family, friends, and mentors.
Happy thinking!
Liam Dunfey
University Advisors
Monday, March 30, 2009
Monday, March 23, 2009
New Loan Policy from Sallie Mae
Last week, Sallie Mae announced that it’s changing its lending rules for its signature loan for the 2009-10 academic year. Here are the pros and cons:
I always like starting out with the cons and ending with the pros so the last thing the reader remembers is positive J
Cons
-Interest payments on the loan start while you’re in school.
-It just got harder for families to get a private loan and in the tough credit market, that’s not good news.
Pros
-Value of loan payment will be cut up to 40% over its life!
-Loan payments will be 5 to 15 years instead of 15 to 30.
Why did Sallie Mae make this change? It’s a cash flow issue – they get the money back faster and don’t have to wait till the student graduates.
A higher education is an investment and loans will continue to be a part of the process.
Liam Dunfey
University Advisors
I always like starting out with the cons and ending with the pros so the last thing the reader remembers is positive J
Cons
-Interest payments on the loan start while you’re in school.
-It just got harder for families to get a private loan and in the tough credit market, that’s not good news.
Pros
-Value of loan payment will be cut up to 40% over its life!
-Loan payments will be 5 to 15 years instead of 15 to 30.
Why did Sallie Mae make this change? It’s a cash flow issue – they get the money back faster and don’t have to wait till the student graduates.
A higher education is an investment and loans will continue to be a part of the process.
Liam Dunfey
University Advisors
Monday, March 16, 2009
Spring NACAC College Fairs
It’s mid-March and for juniors in metropolitan areas around the U.S., there’s a pretty good chance they’ll be a NACAC college fair in your region. NACAC fairs give students the opportunity to visit various college booths and learn more about higher education opportunities available. College representatives are friendly, informative, and can be an advocate for you in the admission process. You’ll notice some familiar college names, but many of the institutions represented will be out of your region, out of your state, and in some cases, international!
I’ve heard many students ask why going to college fairs is important since all the information is available online. Well, the information is online, but learning about other college possibilities, engaging people, and taking an active first step in the college search is productive. Parents should allow their son(s)/daughter(s) to drive the process when you arrive at the fair (after all, it’s the student that will be enrolling in college, not the parent!). Come prepared with some questions that may not be found online and with an adhesive address labels so you don’t have to fill out college inquiry cards repeatedly. Admission Officers will be impressed with good questions. You may even want to take their card for follow-up purposes down the road.
It’s also important to take notes about the specific schools so you remember what you heard and/or learned. The college search can sometimes be a maze and with thousands of schools out there, you want to have the information documented in a systematic way that works for you.
Good luck beginning your college search! You will not be disappointed by the NACAC Fair in your area.
Liam Dunfey
University Advisors
I’ve heard many students ask why going to college fairs is important since all the information is available online. Well, the information is online, but learning about other college possibilities, engaging people, and taking an active first step in the college search is productive. Parents should allow their son(s)/daughter(s) to drive the process when you arrive at the fair (after all, it’s the student that will be enrolling in college, not the parent!). Come prepared with some questions that may not be found online and with an adhesive address labels so you don’t have to fill out college inquiry cards repeatedly. Admission Officers will be impressed with good questions. You may even want to take their card for follow-up purposes down the road.
It’s also important to take notes about the specific schools so you remember what you heard and/or learned. The college search can sometimes be a maze and with thousands of schools out there, you want to have the information documented in a systematic way that works for you.
Good luck beginning your college search! You will not be disappointed by the NACAC Fair in your area.
Liam Dunfey
University Advisors
Monday, March 9, 2009
College Admission Status Letters in the Mail
March is typically the month where many students will be notified of their admission status. For some, the letters bring and for others, disappointment. Some will be on wait lists. If students have done their college homework and applied to six to eight schools that are their "first choice" schools, they won't be in despair if they're only accepted to one school.
Students might be in a situation where they're accepted to more than one "first choice" school. Over the next six to seven weeks, you'll have the time to think through the pros and cons of what those particular institutions can offer you. Perhaps you'd like to revisit the campus? Or spend some time in a class, or in a residence hall. Choosing a college is an important decision, and students need to take the time and make an informed decision. A good fit over brand name is always a wiser choice.
No matter if you are accepted, wait listed, or denied, stay positive this spring. You will have a choice.
Liam Dunfey
University Advisors
Students might be in a situation where they're accepted to more than one "first choice" school. Over the next six to seven weeks, you'll have the time to think through the pros and cons of what those particular institutions can offer you. Perhaps you'd like to revisit the campus? Or spend some time in a class, or in a residence hall. Choosing a college is an important decision, and students need to take the time and make an informed decision. A good fit over brand name is always a wiser choice.
No matter if you are accepted, wait listed, or denied, stay positive this spring. You will have a choice.
Liam Dunfey
University Advisors
Monday, March 2, 2009
Stimulating Accessibility to Higher Education
A higher education is a life-long investment. It's nice to know that the federal government feels the same way. If you watched Obama's speech to congress, he gave us sobering news about how less than 50% of students who enroll in college actually finish. The reasons are many - money, timing, family, fit, etc. By 2020, he wants an american workforce where at least 50% are college educated. Here's how his administration will help meet that goal.
The federal government will spend approximately $13 billion in stimulus funds on improving the accessibility of financial aid to college students around the country. It is predicted that the stimulus will offset about $2,500 in college costs on average for millions of lower class and middle class families. In addition, Pell Grant and College Work Study allocations are set to increase.
Pell Grant funding will increase its maximum award by $500 next school year, to $5,350. Additionally, taxpayers earning up to $80,000 for single filers or $160,000 for joint filers will be reimbursed for the first $2,000 of tuition and books. Unlike previous student financial policy, college students who file separately from their parents and who don’t make enough money to pay taxes will be eligible for a rebate. The bill will also allow families to spend money from over 500 college savings plans on computers.
What does all this really mean for families? This doesn't mean that tuition for higher education will stop or that it'll be easier to get into the more competitive schools. What it does mean is the federal government is doing what it can at this point to fund american's higher education aspirations. I'm still advising families to save for college, apply for outside scholarship money, and to look for the best possible loans.
Liam Dunfey
University Advisors
The federal government will spend approximately $13 billion in stimulus funds on improving the accessibility of financial aid to college students around the country. It is predicted that the stimulus will offset about $2,500 in college costs on average for millions of lower class and middle class families. In addition, Pell Grant and College Work Study allocations are set to increase.
Pell Grant funding will increase its maximum award by $500 next school year, to $5,350. Additionally, taxpayers earning up to $80,000 for single filers or $160,000 for joint filers will be reimbursed for the first $2,000 of tuition and books. Unlike previous student financial policy, college students who file separately from their parents and who don’t make enough money to pay taxes will be eligible for a rebate. The bill will also allow families to spend money from over 500 college savings plans on computers.
What does all this really mean for families? This doesn't mean that tuition for higher education will stop or that it'll be easier to get into the more competitive schools. What it does mean is the federal government is doing what it can at this point to fund american's higher education aspirations. I'm still advising families to save for college, apply for outside scholarship money, and to look for the best possible loans.
Liam Dunfey
University Advisors
Subscribe to:
Posts (Atom)