Building off of the fabulous and informative articles about the economics of choosing a college featured earlier this month (Payscale’s 2015 College Salary Report and Mom Approved Tips: How to Choose a College), I want to share with you a simple system to help you make this huge decision and an informed college choice.

1. Schedule Time in Your Calendar to Implement the System

The first step in any system is scheduling time to implement it. Set aside an hour this week to start working through the following steps. This can be done as a family or by the student. The key to not getting overwhelmed by the process is taking it one little step at a time. Break down each task into small, easy to accomplish tasks, and you’ll be done before you know it.

2. Start with a Large List and Narrow it Down

You are much better off with a long list than a short list of colleges. Remember when you are deciding which college to attend it will have been three-six months since you were applying. A lot can change in that amount of time, so you want to make sure you have enough options to make the best decision. I recommend students have a final list of 8-10 schools. If applying to that many schools is a financial burden for you and your family, remember you can always request application fee waivers. You can do this my writing the college directly or check out the College Board or NACAC for more information on the standard application fee waiver requests.

To get down to those 8-10 schools, start with a much larger list. Put any school on the list that even piques your interest. Spend time browsing the net and talking to friends, family, teachers, and counselors. Don’t limit yourself. Just write everything down right now. You want to make a large list and then focus on narrowing it down by asking yourself the following questions.

3. What do you want to do after you graduate?

Do you have a particular career or major in mind? Spend your time researching the best undergrad programs. See which schools your dream companies recruit from. Are there intern or co-op programs? You can use the Payscale Best Schools by Majors list shared last week to help you. You can also look at rankings for different majors.

Maybe you are unsure about what you want to do after you graduate. That’s OK! You just might want to steer clear of very specific programs. For example, if you’re on the fence about engineering, you don’t want to have a list of exclusively engineering schools.

Look at your list and cross off any schools that don’t offer the major(s) you’re interested in. Put the schools with the best programs at the top of the list. Be sure to take a look at the companies that recruit from and attend the career fairs of the colleges on your list. Not many students or their parents do this, but it is probably one of the biggest factors for how easy or difficult your future job search will be.

4. What are the economics of your choice?

I specifically don’t want you to think about what your “budget” is or how much the college costs. You need to look at the whole picture. What sort of financial aid and scholarship packages do the schools offer? What are your parents able and willing to contribute? Use Katie’s advice to broach the subject. What is your potential starting salary? What are your potential lifetime earnings? WRITE IT ALL DOWN. Use this wizard to figure out how much student loan debt is reasonable for you. Use the Payscale information to get median salaries for different careers.

For example, if your dream job is teaching middle school, your salary will likely be in the $30,000-$60,000 range during your lifetime. So you need to consider if spending $200,000 on your education will be too big of burden. If so, cross those hefty price tag schools off your list.

On the other hand, if your dream job is a petroleum engineer for a big oil company, I would consider spending more money on a school with a strong program that has relationships with all the big companies over a school that’s cheaper but doesn’t have any oil companies going to their career fairs. Put the schools with the applicable company connections at the top of your list.

5. Where do you want to live and study?

Location, location, location. It can be a big factor in your enjoyment of college, the expense, and the ease of your future job search. It’s definitely easier to get a job in the city or area where you go to school. If you know you want to work in a particular city or region, check out the schools there. You’ll be able to build your network while in school, making the job search process a breeze.

Maybe you know you want to go to school in the South, Midwest, or Coasts. Keep in mind there are additional expenses if you go to school far from home (flights home, storage between semesters, etc.). Cross off any schools on your list in regions or cities you know you don’t want to spend four years of your life. Move schools in your ideal regions/cities to the top of your list.

6. Will I like spending the next four years there?

Are you big city or small town? Do you need to be close to family or want to break out on your own? Is Greek life important? How did you feel when you visited the school?

Do you have any friends or family who went to a school and loved it? If they have similar likes and dislikes to you, their opinion is very valuable. Ask them why exactly they like the school. Are their reasons important to you?

I had a mother ask me this very question. Her daughter visited a school and wasn’t crazy about it. This year her friend is going there and loves it, which is making her reconsider the school. Typically we’re friends with people who are similar to us and have similar likes and dislikes. I think your friend’s experience is actually more pertinent than a visit, especially if it was a visit you took during the summer. It’s hard to get a feel for a school by going on a campus tour when most of the students are gone. Ask your friend why she loves it. Even better, visit your friend at school if you can. You might even be able to catch a class or two with her. Use this information to cross off the schools where you know you won’t enjoy your time. Make sure the top 10 schools on your list are places you’d like spending the next four years.

Action Steps:

1. Start your list today!
2. Research schools based on majors/careers.
3. Use this wizard  to figure out how much student loan debt is reasonable for you. Use Payscale  to get median salaries for different careers.
4. Talk to people! Your friends, family, and mentors can all help you to decide on your final list. Just remember to ask questions to find out why they like the schools they like.
5. Narrow down your list to the top 8-10 schools.
6. Comment or email me with any questions. If you are looking for resources to help you craft the best application to get you into those 8-10 schools, get my four-step Base Brainstorming Workbook and 7-page GPA Boot Camp for FREE!

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Today’s guest post is from Jessica Yeager, a grad of Harvard and MIT, and a tutor and college coach for high-achieving students and their parents at Impress the Ivies. You can get her Base Brainstorming Workbook & GPA Boot Camp for free.