The Significance of Grades! 

Dear Parent, 

Grades have been shown to be the single most important predictor of academic success in college.  The more A’s and B’s you have on your transcript the more positive attention admissions committees pay to your application.  It is never too early to stress to your student the importance of getting good grades! 

A few aberrant C’s will not automatically exclude your student from consideration, but he/she may have to explain the reasons behind the lower grades.  Many admission applications, in fact, ask students to explain any performance that is inconsistent with the larger academic record.  It is not uncommon for a strong student to experience a downturn in grades due to an illness, injury, family changes, school relocation and so on. (“I did not like the teacher” is not a good reason!) 

Having said that, colleges know that sometimes a particular subject seems to be unfathomable, or that a disconnect with the instructor’s style of teaching makes it difficult to learn the material.  Being honest and forthcoming in taking responsibility for any such inconsistency will only earn the respect of the admissions staff. 

Some applicants with mixed grades may still be accepted to selective colleges because of their considerable talent in other fields.  I refer here not only to athletes, but also to musicians, actors, dancers or student leaders.  Their record may likely show that they have dedicated hundreds of hours to their passion.  This is seen as a demonstration of their drive and discipline that will be applied to their academic studies in college, as well as to the overall college community.  However, as more and more students who “have it all” apply to the top colleges, the competition grows more intense.  Fewer allowances are made for candidates with unimpressive academic performances. 

Finally, this discussion of grades will not be meaningful without an evaluation of the intensity of courses a student takes.  Selective colleges will demand a challenging curriculum.  This is the best way for students to discover their true academic capabilities.  Check into the honors and advanced placement courses at your high school.  It is a very good indicator of not only your students’ academic potential, but their attitude toward their studies. 

Until next month…Best Wishes! 

Soaring College Costs!

Dear Parent, 

As you know, the costs for a college education are soaring!  There was a time, (when we were younger) when many people worked their way through college.  Putting forth the effort and commitment that it takes to accomplish this was a valuable experience, and the cost of college was much more manageable and affordable. Making work and school a viable option for those who needed it. 

College inflation has been higher than regular inflation for the last 20 years, and there's no indication that this trend will stop.  In 2003, the average in-state tuition at a state college for four years of college was $76,245. In 2014, this is projected to be $128,701. For Ivy League Schools, four years of tuition is projected to be $325,839. It would be impossible for a student to pay these costs with a part-time job. 

In fact, the income a student earns from any job can reduce financial aid. The financial aid system strongly believes that the student should accept some responsibility for his or her own education.  This is why any income that can be attributed to the student is calculated into their financial aid equation at nearly 50 cents on the dollar.  Therefore, the more money a student makes, the less financial aid they are eligible for!  

On top of this, working can add semesters to the college experience. There aren't many students who can work full time and go to school full time as well. This could lead to lower grades or lighter course loads.  Consequently college can take 5 or 6 years or more.  That means additional tuition expenses.  It can become quite overwhelming. 

Today the college game is not the same as it once was.  The rising costs have shocked some parents who have not been keeping up with inflated college costs.  As their child approaches the college years, and they see the current “price tag”, many are also overwhelmed.  And often wonder themselves how they can afford these exorbitant prices.  

It is our goal to help you through this process as much as we can.  We are here with any questions that you may have.  Don’t hesitate to call! 

Until next month…Best Wishes! 

Randy Stoltz, President

The College Search Begins!

Dear Parent, 

Many students begin to receive college information during the summer after their sophomore year of high school. When your child starts his or her college search, it might feel like someone has begun a letter writing campaign against your family. You will be inundated with brochures, letters, CDs, sometimes even DVD’s or video tapes, all about prospective colleges. 

There are more colleges in the United States than ever, and everyone is fighting for the same pool of talent. One student joked that she thought tuition was so high because colleges had to pay for their marketing materials somehow. This might not feel far from the truth once the brochures and packets start rolling in. 

The key to sorting through these materials is to think of it as something just a step higher than junk mail. Don’t feel obligated to look through every packet that comes your way. Sorting them into three piles might help: 

Priority: These are schools your child is interested in.

Maybe:  These might be worth looking into if you have the time.

Junk:     Recycle them and don’t look back. 

It’s important to remember that a marketing brochure might not be an honest representation of a college or university. If your child is interested in a school, he or she should request more detailed information.                      

Also, as targeted as some of these marketing campaigns may be, you won’t receive materials from everyone. Therefore, be sure to write any college of interest for more information. This can usually be done online at the college website. 

It’s never too early to start the search.  This way your student can be well advised of the admission requirements of a particular school. 

Until next month…enjoy your summer! 

Randy Stoltz, President

College Selection Tips! 

Dear Parent, 

Choosing a college isn't a light decision, for both students and parents. After all, it's not only an investment of money, but it's also an investment of four years of both you and your child's lives and will help shape the person they're going to become. 

It might be exciting but it is probably the biggest decision your student has had to make up to this point in their life? 

Here are a few things you can do to help pick the right college: 

Have your child make a list of things he/she wants in a college. When you go on the campus tour, make sure to ask all those questions. What is the student/teacher ratio? Do students go home on the weekends? How many students graduate in four years? What kinds of student activities does the college offer? Talk with alumni or current students, and go out of your way to talk to people who aren't associated with the admissions office since they're going to give you the cleaned up version of the school. While a school might say they have 90 clubs and organizations, only 40 of those might be active. Another way to see a clearer picture is to pick up a copy of the school's student newspaper. Don't be afraid to call and ask more questions. That's what their admissions counselors are there for. 

After you think you have all the information you need, go back to that original list and rate each selection factor for each school. This will give you an outline of what schools are compatible with the needs and desires of your student. 

These are just a few suggestions to help you in the college selection process. 

Until next month…Best Wishes! 

Randy Stoltz, President

Does Your Student Plan on Working?

 Dear Parent, 

During the sophomore year is typically when a student turns 16…or shortly thereafter.  As your student approaches “working age”, there is some important information that you need to be aware of.  

Families that will qualify for traditional, need-based financial aid should be careful about their student's income during those years.  Student income is assessed at 50% by the financial aid formulas.  Federal financial aid will protect the first $3,000 of income, but any amount over and above that will reduce financial aid by fifty cents on the dollar. 

Income from the year before application for financial aid is what counts.  For example, a student entering college in the fall of 2010 will have to supply income information from 2009.  The following year when the student applies for financial aid again, he/she will have to supply income information from 2010.  This process is repeated every year. 

On the asset side of the equation, money in an account in your student's name will reduce financial aid by thirty-five cents on the dollar.  Asset values are counted as of the day the financial aid forms are being completed. So what do you do if your student is industrious?  You can reduce the impact of a savings account by opening a joint checking account with your social security number as the first one.  Your student will have access to the funds, but since his/her social security number is not on the account, it will not be counted as his/her asset, it will be counted as yours.  Parent assets are not nearly as damaging to financial aid as student assets. 

To minimize the impact of your student's income on financial aid, try to have him/her avoid earning more than $3,000.  If your student will need more than that for spending money, consider loaning the funds and having him/her pay you back after college. 

The experience of working part-time during high school can be very valuable to a student.  But, it is important that you are aware of the impact of their income when it comes to the financial aid process. 

Until next month…Best Wishes! 

Randy Stoltz, President

Keep Your Student Informed On Your

College Funding Plans! 

Dear Parent,

 Last month, we discussed the soaring costs of a college education.  When most people talk about college planning and saving, they talk to the people with the money: the parents, grandparents, or whoever is funding the student's college education. But there's one person who is usually left out of the equation, and this is the person who usually bears some of the financial burden after graduation: the student. 

With the soaring costs of college, most students have to take out some portion of the expense in student loans.  It is important that the student is included in decisions and discussions early in the process.  Even though most prospective college students are young and might not comprehend the ins and outs of college loans, they should still be told the facts.  They are going to have to pay back these loans and it is something they will face when they get their diploma. This isn't a bad thing and shouldn't be done with the purpose of scaring the student, but to inform them.  If it is not talked over before the “big college decisions” start, it could lead to more confusion and questions like "why didn't you tell me sooner"?

Just like any other aspect of a parent/child relationship, communication is the key and could prevent confusion in the future.  As you determine your college funding plan, you will know if it may possible that your student will have to take out some student loans.  Begin to talk with them about it now so there are no “surprises”.  This way everyone is well informed as college decisions are being made. 

Until next month…Best Wishes! 

Randy Stoltz, President