Juniors, start setting up your calendar for the spring and do your best to stay organized – between the SAT and ACT, college visits, job shadows and AP exams – there’s a lot to do!
Better yet, find things that you believe in. Whether it’s through your high school or the local community – there are opportunities everywhere to start building your brand. Nothing you feel passionate about yet? Be willing to try something new.
Don’t let sticker price stop you from considering a school. Use a net price calculator to find the “real” cost. Especially with private colleges, the net price is considerably less than the sticker price.
Now that January has arrived, it’s time for high school seniors and their parents to fill out the FAFSA, or Free Application for Federal Student Aid. The FAFSA is the form you are required to fill out if you want colleges to consider you for financial aid.
While families have their own unique circumstances, here are some of the top questions I come across this time of year and my answers which will hopefully help you along the way as well.
1. We make too much money, we probably shouldn’t bother filling out the FAFSA, right?
Wrong. Regardless of how much (or how little) you make, you should always fill out the FAFSA. Even if your EFC is very high, there are still non-need based loans like the Direct Unsubsidized Loan or Parent PLUS Loan which can help you spread out the costs. But, to qualify you must fill out a FAFSA.
2. How do parents who have joint custody and are both remarried with new spouses file the FAFSA??
When students come from divorced families, financial aid eligibility is based on the income and assets of the custodial parent. This is the parent who the student lives with for the majority of the year, even if it’s six months and one day. Even if the non-custodial parent has a considerably higher salary than the custodial parent, this parent’s income and assets are not factored into the federal financial aid eligibility calculation.
3. We’re going to have two kids in college at the same time, how will this affect our financial aid eligibility?
How many kids you have in college at the same time has a very big impact on financial aid eligibility. Consider that your EFC is divided by the number of children enrolled in college. If you have one child in college and your EFC is $40,000, then that’s what colleges would expect you to pay. If you have two kids in at the same time, the EFC will be $20,000 each. This is why it’s also important to file a FAFSA each year. Even though you may not get a lot with one child in college, if you have a second one entering a year or two later, you may end up qualifying for something.
4. We won’t have our taxes done until late March, can we just apply for financial aid then?
You can, but you shouldn’t. Financial is aid is very much a first-come, first-serve process. Additionally, some states like Connecticut have February deadlines for state grants which you don’t want to miss. If you wait until after you file your taxes, colleges won’t have as much money to give out as they would have if you had applied in January. File your FAFSA now with estimated income and then use the federal data retrieval tool after you file your taxes to update your information.
5. My daughter’s grandfather has put away money in a 529 for her which we plan on using this year. Since it’s his money and not ours, do we have to report it on the FAFSA?
Yes, you have to report any distribution from a 529. The more important factor here is that the 529 is owned by a grandparent and, therefore, may reduce your aid eligibility considerably. Where a distribution from a 529 owned by either parent is considered a parental asset, a distribution from a 529 owned by someone who is not the parent is considered student income. When calculating aid eligibility, student income and assets are assessed at a much higher level than parental assets so even though the intention is a good one, the outcome may not be helpful.
If you want some help and guidance on your college application and financial aid process, check out what other families are saying about Dobler College Consulting and then contact me today to set up an appointment for a free consultation.
As I talk to students about the college application process, one of the concepts I try to get them to understand is how they can create opportunities to demonstrate their interest to colleges.
Demonstrated interest is a relatively new phenomenon in college admissions over the last several years. While some schools won’t care how many times a student has shown his or her interest, a lot of schools will.
These schools aren’t the ones you will find at the top of the U.S. News or Forbes rankings – but then again, you should already know what to think about these lists – because those schools don’t have to care. Being that highly ranked and being that selective in their application review means they don’t have to do anything and kids will still fall all over themselves to apply each year.
Other schools, however, are very interested in just how interested their applicants are in them and will often say so right on their websites. For one, they are trying to find students who are eager to attend rather than ones who are just eager to apply. A student who wants to attend is likely a student who will enroll and do well resulting in a student who graduates in four years. In the college world, this is called yield. And when an admissions staff can more accurately predict their yield, they can enroll a class that meets the institution’s goals. This is also why the elite schools who crowd the top of the rankings don’t have to put any value on demonstrated interest – their yield is already incredibly high.
So, just how do you demonstrate your interest?
1. Social Media.
Colleges are on social media just waiting for you. Go find them on Facebook, Twitter & YouTube. Like them, tweet them and follow them. Some colleges are tracking this information very closely.
2. Campus Tours
One of the best ways to get a feel for a college is to visit campus. But when a college asks you to RSVP and then to sign in when you get there, you can bet they’re tracking you. When you’re there, get business cards from everyone you meet and follow up with a thank you or a brief note saying what you enjoyed most about your visit.
3. Interview
One way to really make the most of your college visits is to schedule an interview ahead of time. It’s a great way for you to get your specific questions answered but it’s also a great way to make an impression with an admission counselor. Ideally, you want to interview with the counselor who will be reviewing your application. ALWAYS follow up with a thank you email.
4. Applying Early
You have choices in the way you apply to a college and applying early is one way to show a college how interested you are. By applying early, you show that you’ve done your homework and researched the college well before senior year arrived. You show that you’re a more serious applicant and, when combined with a visit, an interview and connections through social media, a college is more likely to feel that you are an applicant who wants to do more than just apply.
If you want some help and guidance on your college search and application process, contact me today to set up an appointment for a free consultation. Also be sure to snag your free copy of the Top Ten Tips For Navigating The College Admissions Journey.
