Countdown to College Doug Wiegand Rising Sun High School

Why go to College? Better Paying Jobs Access to Wider Range of Career Choices Exposure to variety of people and cultures “Supposed to make you worldly” Avoid becoming an Adult

College Facts College Graduates earn more Money Most students switch majors 25% do not return for their Sophomore year 50% of those who start college will not graduate Involvement increases graduation chances

College Drop-outs 50% are Drug and Alcohol Related Other Reasons; Relationships “I’m taking a year off” Financial Issues Depression Homesick

College Graduates 23% of US Population has a Bachelor’s Degree 20% have an Associates Degree 6% have a Master’s Degree 1% have a Doctorate 2% have a MBA, JD or MD Average starting salary Bachelor’s in 2012 will be $68,000

Top Ten College Myths 10. Grades are more important than challenging classes 9. SAT tests are more important than grades 8. I need to decide on my career prior to college 7. A difficult 9 th or 10 th grade year will doom you.

College Myths (continued) 6. I need to be in many activities to be considered 5. College is 4 years 4. My life is ruined if I don’t get into _____ college/university 3. Liberal Arts colleges lack Science and Engineering Programs The Federal Government gives the most Financial Aid

College Myths 1. “There is no way I can afford this”

Paying for College Cash Credit Cards Payment Plans Parents work at college that offers free tuition to dependents Utilize Financial Aid Options like 75% of College Students Nationwide

Financial Aid Merit-Based Scholarships (Public and Private) Institutional Aid (from the college) Grants (State Residents) Awards (Local Groups, Civic organizations etc.)

Financial Aid Need-Based Aid Cost of attendance – EFC = Financial Aid CA – EFC = FA Starts with The FAFSA

Examples of Financial Aid 4-year State University $17,000 cost (Tuition, Room, Board, Fees, Books, Supplies, “incidentals”) FAFSA says you have an EFC of $10,000 The remaining 7,000 is Financial Aid This is called a “Financial Aid Package” through the Institution

Another Example Community College $5,000 cost (Tuition, Fees, Books, Supplies) EFC is $10,000 You can still receive Merit-Based scholarships from the school or other sources

Last Example Harvard University $50,000/year EFC is $30,000 You qualify for $20,000 in Financial Aid Do the FAFSA no matter what you think your EFC might be

Federal Loans Perkins Loan $4,000 maximum per year 5% fixed rate

Federal Loans Stafford Loans (subsidized) Government pays the interest $ 3,500 Freshman Year $ 4,500 Sophomore Year $ 5,500 each for Junior/Senior Year $ 8,500 for Graduate School

Federal Loans Unsubsidized Stafford Loans 6.8% Fixed 3,500 Freshman 4,500 Sophomore 5,500 Junior and Senior 8,500 Graduate School

Key Points Most Federal Programs are need- based You EFC (Estimated Family Contribution) is the most important factor in receiving financial aid. Scholarships are mostly merit-based and competitive. Scholarship

College Admission Process Important Factors Transcript GPA/Class Rank Strong Senior Year SAT/ACT Scores Recommendations Extracurriculars

“What’s a parent to do?” Be Involved in the process Counselor/Student/Parent meetings Visit Colleges with your child Help organize the paperwork, but let your child do the majority “peeking over their shoulder”

College Shopping Take your own tour after the admissions office tour Acknowledge your reactions to a campus visit Process these reactions with your child Think of this process as the same as buying a house In reality, your child is moving there

Important Dates Early November- Early Decision/Action Deadlines November/December- Filling out Applications (mostly online) December- Last time to take the SAT’s for 4 year college purposes Financial Aid/FAFSA Workshop

Important Dates February- Mid-Year Transcripts sent to College Admission offices March- Student Aid Report (SAR) March/April- Acceptance Letters April- Decisions and Deposits May- Avoid Senioritis Graduate

Goodbye!