It’s coming down to the wire for making college decisions and you and your teen have to decide on a college by the May 1st deadline. For some families, it’s easy. For others, it’s emotional and gut wrenching. If your student got into their dream college and the money is there, congratulations. If your student was waitlisted, or there’s a financial issue, or they didn’t get an offer of admission to their first choice college it’s time to examine the deck. By doing this, you can help your teen make the best decision.

The wait list card

If your teen gets waitlisted, it’s time to fold. Even though some students do get off the waitlist, it’s too much of a gamble to take; especially if other colleges are offering admission. The risk you take is not worth the reward. Toss in the card and move on to the next hand.

The rejection card

Nobody likes this card. It’s a deal-breaker and you have no choice but to fold and move on. It’s disappointing but there is a better card in the deck.

The admission card

This is the payoff. With these cards you have a full house. Hold on to them and treat them as they are—winners. There are no losers with admission cards and even if they weren’t the cards you wanted they will reward you in the end. It’s from these cards that your teen will pick the college they attend. Evaluate their worth and look deeper into their face value. Your teen might discover a wild card in the bunch that trumps all the other cards in their hand.

The financial aid card

This is the high card, or the ace, because it improves your hand and increases your winnings. When colleges send this card to accepted students, the amount on the card is a direct indication of how much a college wants you to accept their offer of admission.

When your student mailed off their college applications, it was a gamble. They were all in and now it’s time to claim the winnings. The right college for the right price is a jackpot.