college costs, financial aid, student loans

Taking on student loans the smart way

 

Student loansThe May 1st college deadline is quickly approaching and parents and students are making decisions about financial aid packages. Most likely, those packages will include some form of student loans–either Stafford or Perkins. Colleges also provide parents and students with private loan options to supplement the government aid when necessary.

No one wants to graduate from college loaded with debt, yet 60 percent of college students and their families borrow money each year to cover ever-rising tuition and fees, according to American Student Assistance. That’s because the average private college charges close to $40,000 a year for tuition, fees, room and board, while state universities average just over $17,000 a year. Out-of-state students at public four-year schools fall halfway between those costs, averaging just under $30,000 for the 2011-2012 school year, cited US News & World Report.

Financial aid — merit-based and need-based scholarships, grants, work-study programs and loans — has become a reality for the majority of college students.

A New Way of Life

The process of finding aid begins with completing the Free Application for Federal Student Aid (FAFSA) to determine expected family contribution (EFC) based on family income and expenses. There are 63 universities in the U.S. that claim to meet 100 percent of students’ financial need, as determined by the FAFSA. The cold hard truth is that the majority of students don’t attend these colleges and will need some form of financial aid.

Protect Yourself

While working through the process of acquiring funding for college, remain mindful of identity protection. Your soon-to-be college student can be especially vulnerable to identity theft because his or her personal data is easily accessible through grade postings, credit card applications and online transactions, according to the Dept. of Education.

Here are some ways to protect the identity of your student:

  • After completing the FAFSA, log off the page and close your browser.
  • Don’t use paid financial aid services that operate over the Internet or by telephone. The Department of Education offers its services for free and pages containing your private information are password-protected.
  • Do not reveal the FAFSA personal identification number (PIN) to anyone, even if that person is helping you fill out the form. The only time you should use your PIN is on secure websites.
  • Shred receipts and copies of documents with student identity information if they are no longer needed.
  • Review financial aid award documents and keep track of the amount of student aid applied for and awarded.
  • Make sure your student reports all lost or stolen identification (such as your student ID card) immediately.

Forgiveness

When your child graduates, the payoff amount on the loan may seem crushing. But your child has options: student loans, especially those connected to postgraduate professional education, sometimes can be paid off through public service. In 2007, Congress created the Public Service Loan Forgiveness Program to encourage individuals to work full-time in public service jobs. Borrowers who have made at least 120 payments on eligible federal student loans may qualify for forgiveness of the remaining balance while employed full-time by certain public service employers, according to StudentAid.gov.

If public service isn’t an option, loan repayments can be accomplished more easily by paying off private student loans before paying off federal loans.

Be Smart

Only borrow what you can afford to repay. There are numerous sites that provide student loan repayment calculators. Know your options before you borrow and educate yourself on student loan repayment. Research salaries for your career choice and always estimate using entry-level figures.

 

campus security, parenting

MIT got it right

 

If you’re a parent of a college-bound teen you’ve been watching the Boston Bombings and subsequent manhunt in “parental mode”. Quite simply, you are wondering in your student will be safe at college and what would happen if they are caught up in a similar situation at the college of their choice.

I can’t stress enough the importance of researching the college’s emergency procedures–before you sign on the dotted line accepting admission. The May 1 deadline is approaching so it bears repeating that colleges are responsible for your student’s safety and they should have policies in effect to protect your student while on campus.

MIT got it right last week during the acts that occurred on their campus related to the Boston terror suspect manhunt. They have an emergency website dedicated to notifying the student body of imminent danger.

MIT Alert Page

MIT shooting

On this page you can sign up for email alerts and, more importantly, text alerts. Students always have their cellphones with them and this function should be available to all students on all campuses.

When the shooting of the MIT police officer occurred, administration immediately sent out an alert to students to stay away from the area. They also notified students there would be more updates to follow.

These 48 hours of tension among the Boston community and their heavy college student population serve to impress upon parents and students the importance of their college’s emergency notification system.

Heed this warning if you’re concerned about the safety of your college student. Do the research and find out what type of emergency procedures and guidelines are in effect. It will provide you with peace of mind and help you sleep a little easier at night.

 

 

college guidance, parenting, Uncategorized

What to do when your college student’s grades drop

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college gradesWhen kids are in grade school, junior high, or even high school, parents have a great deal of influence when it comes to grades. For one thing, you have the ability to offer or deny rewards based on performance, including allowance, gifts, or even activities like slumber parties, trips, and so on. But you can also levy punishments for poor grades that include grounding kids, removing privileges, or taking away their toys (including video games and cell phones). And of course, they live in your home, so you can sit with them from the time they get out of class until they go to bed if that’s what it takes to ensure that they get their homework done. You can also call their teachers or even embarrass them by showing up for their classes to make sure that they’re paying attention instead of goofing off (chances are you’ll only have to use this tactic once in order to turn it into an effective threat). In short, you have many tricks up your sleeve to ensure that your kids work hard to get the good grades they’ll need for admission to their college of choice. But what can you do to keep them at peak performance once they fly the coop, head for campus and your college student’s grades drop?

Money talks

While you might not think that any of your old strategies will work once your kids head off to college, the truth is that you probably have a lot more sway than you imagine. This is particularly true if you happen to be paying for a significant portion of your students’ expenses. There’s nothing that says you have to put your kids through college, although of course, most parents want to ensure that their children have the best possible education and prospects for the future. The point is that college is a privilege, not a right, and it’s one that your students have to earn. So you should make the terms of your contributions conditional. Even though your kids might not be footing the tab for their time in school, they have to hold up their end of the bargain by receiving at least passing grades. Otherwise they’re throwing your money away.

Outline the rules and guidelines

What you need to do is enter into an agreement with the college-age kids in your household before they leave for school. If they want to have fun and waste time while they’re on campus, focusing on socializing rather than studying, make it clear that they can pay their own way. But if they’re willing to work hard for a degree and maintain a certain GPA, you should definitely do what you can to help them. Now, this is not to say that you shouldn’t give them a little leeway. One bad grade doesn’t necessarily mean they’re slacking – it could just be a particularly hard teacher or class.

Use tough love

However, should your students persistently suffer from poor grades, chances are good that they’re either clowning around when they should be studying or they’re simply not ready for the demands of a college schedule. In this case it might be time to cut them off financially or demand that they move home and attend a local college (where you can keep an eye on them) until they’re back on track with their grades. Further pursuit of education, such asHarvard Law or  a USF MPA online, means they need to make their studies the main focus of their time in school. And if they simply aren’t getting the grades needed to graduate, you might have to draw a line in the sand on your end so that they learn a valuable lesson about decisions and consequences now, instead of later in life when you’re not there to catch them and set them back on their feet. Learning this lesson before grad school or permanent employment is much easier while they have your support in college.

career colleges, college guidance, college majors, college planning, college transfer

Transferring colleges

 

transferring collegesIt can be very difficult for students to choose the school that is going to offer them the best chance for future happiness and career success. And even with the input of parents, counselors, and peers, students occasionally discover that they’ve made the wrong decision and ended up at a college that really can’t offer them the program or coursework they need to get where they want to go. Plenty of students also change their minds about what they want to do after they’ve had a chance to take a few classes and see what their dream job actually entails. Then there are issues like cost and location that may lead students to seek an education at another institution. And many students go from community college to a 4-year institution. There are any number of reasons why students might consider transferring colleges. Here are a few things to consider when helping them make the transition.

Search for acceptable alternatives

In truth, there is little difference between applying for college initially and transferring to a new school except that you’ll need to get more transcripts sent. So the first thing you and your student should do is start looking for acceptable alternatives. The nice thing is that you’ve been through the process once before so you should have a better idea of how to get started, such as by reading reviews and seeking out schools that offer the type of program your student is interested in. If the major study hasn’t changed, you may even be able to repurpose some research on schools that didn’t make the cut the first time around but came in as second- or third-place options. However, if your student is considering a new major, you’ll simply have to begin again with schools that meet the new criteria.

Determine if current credits will transfer

Of course, there may be a few snags to contend with. On the upside, your student has likely completed some credits, which means he/she should have an easier time gaining admittance to a new school. This is especially true of students entering a new institution as juniors with their general education units completed, not to mention those who have managed to earn a high GPA thus far. However, you could definitely face some problems when it comes to transferring those credits. Although most accredited institutions will accept college credit from other such schools, an apples-to-apple transfer is not always possible.

For example, students going from a semester to quarter system, or vice versa, can face problems based on the number of units granted per class. And certain courses may not have an equivalent at a new school, rendering them virtually useless. Plus, every school is bound to have different requirements concerning prerequisites for specific majors. So you should address this issue right off the bat in order to find a school that will offer your student the best opportunity to continue along an educational path rather than having to backpedal and make up units.

Take a look at financial aid

If your student is receiving financial aid via merit scholarships from their current college they will lose that money if they transfer. Transferring students rarely receive any type of merit aid. Do your research and determine whether or not the new college will provide merit aid to your student, even though they are transferring. This might be a strong case to reconsider staying at the current college and finding a way to make it work.

Whether your student is interested in Ivy League institutions like Duke or Brown, state schools like UCLA or the University of Cincinatti, or even technical colleges, transferring colleges can be a trial. But with proper planning and attention to detail you can help to ensure that your kids find that right schools for their wants and needs, even if they’re already on the collegiate path somewhere else.

parenting, Uncategorized

Creating a college care package

 

care packageIf you think sending your kids off to college is stressful, just think how your students must feel, alone and solely responsible for themselves for the first time in their lives. While they can always call you up for advice, and you’re no doubt helping immensely on the financial end, the truth is that they will have to make their own decisions, and live with the consequences (or hopefully, reap the rewards of their good choices). And if you’ve done a good job raising them they should be able to face their conundrums head on and do the right thing. But still, they will likely be pulled in many directions, what with a demanding schedule of classes and studying, peer pressure to socialize, and any number of other obligations to attend to, such as clubs, Greek life, internships, and for many, a job. This can raise the stress level of the average freshman sky high. So when you start to hear that tremor in the voice that tells you a breakdown is imminent, here are just a few things you may want to throw in a college care package and ship off immediately.

Send a little piece of home

In addition to the other stressors college freshman face, many are beset by homesickness. They might not admit it, considering how gung-ho they were to get out of the house in the first place, but they’ll be missing your cooking, their own bed, and of course, you. Anyone striking out on their own for the first time is bound to miss the comfort and familiarity of home. So the first thing you might want to include in your care package is something you’ll know your college freshman has been missing. Perhaps you could mix up a batch of cookies, brownies, or another favorite baked good. You can’t exactly send frozen lasagna by freight and expect it to keep, but with proper packing your baked goods will certainly hold up for the couple of days it will take them to get from point A to point B. As a bonus, this type of care package will make your student a hit with peers.

Add a personal item

Next you should think about adding a personal item that your student may have left behind, something comforting like favorite quilt that family members use when they’re ill, or an old sweatshirt that has smells like home thanks to recent laundering. When your student is feeling alone and the pressures associated with schooling are high, getting an item like this unexpectedly can provide a welcome dose of familiarity that brings with it a sense of comfort and calm. Just knowing that someone is thinking about you and that they know just what you need to feel better can have an incredibly therapeutic effect, so don’t hesitate to forward a care package that includes one or two personal items.

Surprise them with an unexpected gift

Of course, you could go the extra mile by including a few new items for the sake of diversion. For example, you might pick up a new DVD or video game release that you think your student will enjoy as a way for him/her to blow off some steam. Or if there’s a band you both enjoy, create an MP3 mix and send it on disc. You could even include an iTunes or Amazon gift card. You might also add bath products or pre-packaged snack foods (healthy options, of course), which college students are always in need of. And don’t forget a long letter telling your student about everything that’s happening at home.

Whether your freshman is at Columbia, Northwestern, Boston University or Marylhurst University, the stress is bound to be high. So take your time and put together a college care package that is sure to bring with it the comfort that only a parent can provide. It’s the best way to ensure a happy, healthy student.

college majors, college planning, parenting

To transfer or not to transfer-that is the question

 

transferring collegesParents often have to make tough decisions where their kids are concerned. And while you want the best for your child, and that desire influences your every choice, even you have to admit that you don’t always choose correctly – parents are just people trying to do the best they can! At some point you’re going to have to let your teen take the reins and make his own decisions, even if you think he’s making a huge mistake. But as a parent it’s still your job to help him in any way you can. While you might not exert the same influence over a teenager as you did over a toddler, your opinion still matters. So when it comes to ensuring that your child end up at the right institution of higher learning, the one that will help him to maximize his potential and prepare for a successful and fulfilling career, the onus is on you, to some degree, to make sure he has all the facts needed to make an informed decision about his future.

Even with all your input and exhaustive research, he could end up at the wrong college with the wrong major. Here are just a few things to consider when determining whether your kid is at the right college or if he’s in need of transfer to a more suitable school.

What are the reasons?

There are plenty of reasons why a college might not end up being the best choice for any given student, but when it comes to your child you want to be sure. After all, this can be a fairly costly mistake, what with the complications inherent in transferring to a new school. As a parent, your job in this situation is to determine whether your college student is truly miserable and misplaced at his current campus or if he is simply making a mountain out of a molehill when it comes to complaints about his current situation.

Have your student’s interests changed?

You and your student will no doubt put a lot of time, effort, and deliberation into selecting the appropriate college. But things don’t always turn out like you hope. Even with the help of a comprehensive ranking system, information from school advisors, and visits to college campuses, your student may eventually discover that the school he has settled on isn’t what he wants, for one reason or another. Perhaps he’s looking for practical studies and it turns out that the program for his major is largely theoretical, analytical, or historical in nature, just for example. He may decide partway through that he wants to change his major to something that his school of choice doesn’t specialize in or that it isn’t highly ranked in, at any rate (this is more common than you might imagine). So if it turns out that your student went for a major in contract law when what he really wanted was an urban planning career degree, discuss this change with him and determine the financial consequences of his change of interest and/or passion.

Is this a rash decision?

It could be that your student has selected a campus that is far away and the homesickness is too much for him to handle on top of all the other stresses of entering college. If your college student asks to transfer, tread lightly. It could be more than the wrong educational choice. It could be homesickness, not fitting in, or even the feeling that they are overwhelmed. Make sure it’s not a temporary response to stress. Encourage them to finish out the semester and then make a well-informed decision.

If he discovers that the courses offered aren’t going to help him to get the knowledge and skills needed for his career of choice, then perhaps you should consider supporting his move to another school that can meet his needs. A happy student is a successful student.

 

college guidance, college planning, essays

5 Topics to avoid in the college application essay

 

college application esayYou will no doubt play some role in helping your teens to select topics for their college application essays, and it’s never easy to determine what a selection committee will find compelling. There are fine lines that students must be careful not to cross. For example, they want to write an essay that is dramatic and engaging, but they don’t want to push it into the realm of the unbelievable. And they may want to discuss events in their lives that have helped to shape them into the young adults they are, but it can be difficult not only to choose such an event, but also to determine if it’s revealing enough, or for that matter, too much.

There’s a reason why schools require students to include essays, and it’s not just to see a sample of their writing ability. With thousands of applicants sporting similar qualifications and too few spots to accommodate them, something has to tip the scales, and it just might be the essay section. Picking the wrong one could mean getting a rejection letter. So here are just a few topics that students may want to steer clear of.

  1. Controversial subjects. It can be tempting to discuss attention-grabbing hot topics like gay marriage, abortion, war, drug use, and so on, but doing so can have consequences. If such topics have had a direct influence on your kids, helping to shape their lives and career goals in some way, then they might be relevant and compelling choices for an essay. But controversial topics are contentious for a reason. And while some on a review board may applaud such a choice of essay, others might not find it appropriate for students entering their institution, even if it catches their attention.
  2. Weaknesses. Overcoming one’s failings is noteworthy, to be sure, but that doesn’t necessarily mean it makes for a good essay topic. A “poor me” attitude will not appeal to those determining a student’s acceptance. If they have turned a weakness into a strength, or developed a strong sense of self and purpose through struggles, they could write about it. But they must find a way to make it sound positive and display some humility in the process.
  3. Depression and self-harm. Schools are extremely cognizant of the damage that can be done to their reputation by students that are unable to deal with the pressures and demands of college. So don’t let your kids supply them with any ammo that could make them think your students are unfit to study on their campus. Even an essay about overcoming such struggles could raise red flags.
  4. Short-term philanthropy. It’s great that the students in your household volunteered at a soup kitchen one Thanksgiving or went with the family to build a home for habitat for humanity, but if they’re going to do an essay about how they helped others and what it has done to change them on a personal level, they’re going to have to get a little more in-depth. A personal essay needs to be about the student, not a singular event. It needs to tell the application committee who they are and what they value. So if altruism is a cornerstone of their belief system and they’ve participated in ongoing efforts of some sort, then an essay on the topic may be appropriate. If not, it could come across as juvenile, immature, and unsympathetic.
  5. Generics. Whether your students are looking to attend a state college or NEC’s School of Graduate and Professional studies, they need to write an essay that conveys something unique about them. For this reason it’s best to stay away from topics that are too generic. What this means, in general, is that they need to write about something real and immediate. Any topic can be relevant if it tells readers something about the student. For example, two students could write about the death of a sibling, but one might merely relate events while the other discusses how the occurrence made him question his faith or retreat from his family and friends, only to realize how much he needed them. Admissions committees want to know something true about the character and core values of a student. So the topic is really of little consequence so long as the essay is honest, personal, and illuminating in some way.

The best tip: the college needs to know something about your student that isn’t included in the college application. Use this opportunity to shine.

 

college guidance, parenting

5 Tips for staying in touch with your college student

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helicopter parents
photo by Michael Elins, Newsweek

When your kids go off to college, mixed feelings of pride and anxiety are natural. You’re happy to see them come so far, but you’re nervous about how they’ll handle the new requirements of college life. Keeping track of their progress can help to ease your mind, but how can you do so without being too intrusive?

Following are five tips for staying in touch with your college student:

  1. Give Them Enough Space

    College students are taking their first steps toward independence and maturity when they leave home, and they need room to grow. Avoid being too overbearing with your students. While you’re rightfully concerned about them, they’ll benefit from the increased freedom of independent living by learning to face life head on. Have confidence in your kids and give them enough space so that they can develop into mature young adults.

  2. Don’t Be Afraid to Check In

    Even as your kids begin to grow up and live more independently, they are still your kids. Don’t be afraid to check in from time to time. If you haven’t heard from your young student all week, there’s nothing wrong with dropping a line to check in. Give your student a call, write an email, or even just send a friendly text. Many students experience feelings of homesickness when they start studying away from home, and it helps to let them know that you’re still around to talk.

  3. Start Using Video Chat

    When you can’t see your student face to face as often as you’d like, video chatting is a great way to get a little face time. Start using an online service like Skype, or make use of mobile phone video chatting capabilities. It’s much easier to see how your kids are doing when you can chat face to face, and this will help to keep your bonds strong even while you’re miles away from each other. Find a time that works for both of you, and chat with video to get as close as you can to a live conversation.

  4. Stay positive

    Keeping track of your student’s progress, as well as his or her challenges, is important. However, it’s also important not to ask the wrong questions when checking in. Avoid asking about things like homesickness or discussing the fact that you miss them so much you are miserable. Your kids will talk about these things if they want to, but many students are too busy to even think about homesickness until someone brings it up. Focus on the positive sides of college life when talking to your kids to help them stay positive.

  5. Make Occasional Campus Visits

    If you’re living in southern California while your student attends the University of New England, visiting campus on a regular basis probably won’t be feasible. Your student may also be happier with the time alone to focus on personal development. However, take the time and consideration to plan an occasional visit, especially on Parents Weekend. This will help you see how your student is living in college and help keep your relationship strong.

Be careful not to become one of those parents that hover over their student. Maintain boundaries but let your student know you are always there for them. Staying in touch with your student during college isn’t always easy, but remembering these simple tips will help you stay in touch and allow for open communication.

 

career colleges, college guidance, college majors, college planning

College degrees for music enthusiasts

 

music degrees

When it comes to a particular career path that tends to get quite a bit of media attention, it would have to be the field of music—not just when it comes to famous performing artists, but also producers, arrangers, composers and so many other professions that help to keep everything (pardon the pun) right on beat.

If you consider yourself to be a music enthusiast and you would like to know what kind of college degrees are available that specifically cater to your love for the craft, we have a list of a few for you below. Depending on the kind of music career that you desire, one of these college degrees for music enthusiasts should be able to assist you with getting closer to reaching your goal.

Bachelor of Music. A four-year degree that many people who want a music education will enroll in college to get is a Bachelor of Music. One thing that attracts individuals to this degree is that there are many majors available in this department from performance and theory to music history and technology.

Bachelor of Arts. Those who would like to have a four-year degree in liberal arts with a concentration in music, may decide to go with a Bachelor of Arts. This is one that combines a series of music classes with some liberal arts courses as well. If you choose this particular option, two popular majors that are offered are music administration and music business.

Bachelor of Fine Arts. A lot of people who perform in stage plays and even go on to win Tony Awards have this particular four-year degree. Although a Bachelor of Fine Arts is quite similar to a Bachelor of Arts, the main thing that makes it unique is that the focus tends to be on music theatre. So, if you’re interested in earning a degree in how to perform on stage strictly in a theatre environment, this would be the one for you.

Bachelor of Music Education. If a musician uses a press kit template to create their press packet and they decide to list their college education, there’s another kind of degree that you might see listed. If you are someone who has a deep interest in not just music performance but you also want to be equipped with the kind of information that you will need in order to someday teach it to elementary, high school or college students, then a Bachelor of Music Education would be an ideal fit for you. As a matter of fact, many schools who are looking for teachers will require this degree in their list of qualifications. By having one, you can perform and also have the option of teaching too.

Master of Music. After you have completed your undergraduate education, if you want to get a masters, many colleges have what is known as a master of music degree. The focus in this program is many including commercial music, composition, music education, church music, pedagogy and performance. Some even graduate from that and get their doctorate in music so that they can perform or teach music on a collegiate level.

As you can see, there are many avenues to pursue of your student is a music enthusiast. Investigate all paths and follow the one that best fits your talent and future interest.

 

 

college costs, college guidance, financial aid

Tax deductions for college students

 

college tax deductionsCollege students that don’t work probably don’t need to file taxes, especially since most student loans are considered to be non-taxable (provided they are used for qualified education expenses) rather than income. And yet, there are a few reasons why college students may want to file an income tax return, mainly as a way to see some money back thanks to deductions. Of course, students that have a job (part- or full-time) will certainly want to file. But either way it’s important that they know which deductions may be used without raising red flags. And as a parent you can not only help to ensure that your students receive all the money they’re due, but you may also want to look into deductions that you can take in relation to college expenses for your kids. Both students and parents can save when college is a household expense. And here are a few helpful tips to help parents determine tax deductions for college students.

The first deduction that students should know about is the American Opportunity Tax Credit. It is available only to students that have less than four years of school under their belt, that enroll in one or more semesters of school within a tax year, and that maintain half-time status or better in a degree or credential program. It is available to eligible students for each year that they meet the criteria of the credit, and students may claim up to the first $2,000 of applicable expenses (tuition, books, equipment, etc.), as well as 25% of additional expenses (up to a total claim of $2,500 for a tax year). Similar to this is the Lifetime Learning Tax Credit, which allows students to claim 20% of qualified college expenses, up to $10,000, leading to a credit of $2,000. However, these two credits may not be claimed in the same year, so any students eligible for the American Opportunity Tax Credit should use it since the deductible amount is higher.

Students that find they are not eligible for the credits listed above (due to the number of years in school, the amount of money they or their parents earn, or felony convictions, just for example) may instead choose to deduct any tuition and fees they pay out of pocket, up to $4,000. Since this tax break is slated for termination at the end of 2013, now is the time to use it. In addition, any students that have started to pay back their college loans may deduct up to $2,500 in interest payments. Again, these types of deductions cannot be combined with others of the same type, so students need to consider each carefully before deciding which will be most beneficial.

As for parents, they may also claim any of the deductions listed above provided they are making applicable payments on behalf of dependent students. This, of course, can get a little complicated when it comes to the interest payments on student loans. In general, parents should expect that they will not be able to claim this last one for loans that are in the student’s name, even if they’re paying off the debt. It’s no surprise that federal income tax forms are complicated, and any time finances are co-mingled, as with parents paying for student expenses, claiming deductions can be tricky. You need only call the IRS or contact your tax prep specialist to ensure that you and your student get all the deductions you’re due.

Helping parents navigate the college maze