Those two little words — “financial aid” — can be music to a parent’s ears. I know they were to me!
What I didn’t know as I began the college application process with my daughter was that there are a number of different types of aid available. Not only that, but the awards colleges offer when they offer admission can vary tremendously.
I was surprised to find that many private colleges can be generous with merit aid because they have institutional funds to distribute as well as federal dollars, while public universities with tight budgets may offer less aid. This can result in a private college with a higher “sticker price” costing less to attend than a public university.
Back to the example of my daughter, who applied to a mix of public and private universities. We knew we would need help financing her education, so when she applied to college she also applied for financial aid and we completed two online forms: the FAFSA (Free Application for Federal Student Aid) and the CSS/Financial Aid PROFILE (administered by the College Board and required by many private schools and some flagship state universities).
It’s a joyful day for your high school senior when an offer of college admission arrives, and the joy is magnified by a financial aid award.
Award letters arrive along with (or soon after) acceptance letters. I remember the first time I saw one, my daughter’s senior year. Quite honestly, it was Greek to me.
How were we supposed to compare the offers? The letters included the same basic categories — loans, work-study, grants and scholarships — but without understanding what each category meant it was hard to tell whether or not the college was meeting all of our financial need (Total Cost of Attendance minus our Expected Family Contribution, or EFC). Every college was different and every award letter was different!
For college-bound students, scholarships can fill in the gap between what you can afford and the cost of the school. Most students believe college scholarships are a pipe dream if they aren’t athletes or 4.0 students. But nothing could be further from the truth. There are thousands of scholarships available for the taking. You just need to find them.
There are six key places to look. But remember: Finding them is half the battle. You have to put in the effort to apply and be vigilant in paying attention to requirements and deadlines.
Any parent who is looking at college applications knows how important getting involved in extracurriculars can be. Your teen might not have the involvement in school activities that are going to impress the kinds of colleges they are looking for, but it’s not too late. However, there’s no denying that children who aren’t sporty can find it tougher to find the activities that they like. Here are some of the options you might want to nudge them towards instead.
You probably don’t need a survey to tell you what you already know: parents are more involved in the college process than ever before. They want to participate in the decision and communicate with the colleges. They want to help and guide their students in the decision-making process.
Insight #1-Parents want direct communication from colleges.
Parents want to be more involved. Parents are increasingly anxious and hands-on. Parents want communication from the college and want to participate in the college decision. They want to be involved at the same time as their students in the college search.
I read a post from a parent on one of the Facebook groups I follow. Her son was applying to 40 colleges and she asked how he was going to do it using the Common App since there is a maximum of 20 allowed in the application.
Parents chimed in with suggestions on how to supplement the Common App by applying via college websites and choosing alternate college applications. I read all the suggestions, which were logical and helpful. I kept wondering if anyone would respond by encouraging her to help her son narrow down his list.
Finally, someone spoke up with that suggestion. I’m hoping the mother took their advice because it was the most logical of all.
I will never forget the moment we received our Student Aid Report and I saw the EFC (Expected Family Contribution) on the right-hand corner. I was in shock as most parents are. How could the powers that be believe we could afford to pay that amount for college? It was a mystery to me how they came up with that number, as it is to most of you.
The EFC determines how much financial aid the colleges will award to your student. You can’t receive any federal or institutional aid without getting an EFC when you complete the FAFSA. We are stuck with it and will probably never truly understand how they use to determine how much money your family can afford to pay.
If you are going to need financial aid for college (and who doesn’t?), you will need to understand the EFC.
There’s a new documentary on PBS called “Try Harder!”. It chronicles the lives of some students at Lowell High School, a prestigious high school in California with predominantly Asian students. Their goal–get into the Ivies or the UC colleges. Why? Because according to them, anything else communicates failure.
I was struck by one young man who said, “If I don’t get into one of these schools, I won’t make a difference in the world or be successful.” How sad. What type of message are we conveying to our students? Try Harder.
The acceptance letters have arrived and your student is ready to make his final college decision and then move forward to graduation. Check the box–going to college! It’s a tremendous accomplishment for both students and their parents.
It’s not just your student who is graduating–you are too! You planned for years for your student to go to college and now he has been accepted. After years of planning it’s time to start a new chapter in your life as well.
First things first–do some celebrating. You’ve earned it. It was a difficult task to raise a successful high school graduate and soon-to-be college student. Allow yourself some time to bask in the accomplishment. This is also time to flood him with showers of praise and words of encouragement. He’s worked hard for this and he needs to hear that you are proud of him.
Once the celebration dust settles, to help you head into the next phase, we have some suggestions to assist with the transition.
For seniors who applied regular decision, March brings those long-awaited college decisions: deferred, accepted, rejected, and waitlisted. One knowledgeable college counselor once told me, “I don’t like to call these letters of acceptance. I use the term—offers of admission.” As a parent, I like that distinction. This alternative wording makes it easier to stomach those not-so-pleasant responses and help your college-bound teen work through the gamut of emotions that come when decisions arrive.
Your student may be the one receiving these communications from the colleges, but you feel every emotion they do from failure to excitement and everything in between. But unless you understand what each term means, it’s hard to know how to help your student (and yourself) with appropriate responses and proper action.
