College Costs

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Need Blind Versus Need Aware and Why You Should Know the Difference

Muhlenberg College

Muhlenberg College

If you’re like most families, you’re concerned with how much four years of college is going to cost you. My boys are two and six years old, and I worry about it already. And while so much of the college search is focused on working through the differences between colleges to find that “right school”, all too often one major difference is overlooked.

That difference is whether a school is need blind or need aware.

Need blind schools don’t consider an applicant’s financial need when making admissions decisions, but many are not able to meet applicants’ full need with their financial aid packages without adding work study (which rarely helps a family pay for college) and unrealistic loan options. Highly selective colleges like Yale and Harvard belong to a very small group of schools who are completely need blind and who meet full need. Due to massive endowments, they have unlimited financial aid budgets. If a student is admitted to these colleges they will have 100% of their financial need met.

Need aware schools do consider finances in their admissions decisions, but this control can give colleges the ability to meet full need for all accepted applicants. They must manage an annual financial aid budget that has limitations but by paying honoring these limitations, the colleges are trying to make sure that the student can actually attend. While some students would say a need aware policy is unfair and that decisions should not be made due to financial constraints, the reality is that there is only so much money to go around.

Some schools are a combination of both and while neither approach is perfect, you absolutely need to understand how their application review operates. Earlier this month I was visiting colleges in eastern Pennsylvania and several of them indicated that they are need blind until they get to the last 15-20% of their decisions. At that point, an applicant who has a greater ability to pay would get the nod over a student who was going to need significant financial aid in order to attend.

So how can a family best assess its options? Ask the right questions, of course.

When you visit a college or talk to admission counselors at high school visits or college fairs, ask them if they are need blind or need aware. Let them explain how they review applications so that you can fully understand how your ability to pay may affect your college applications.  You may be disappointed by what you hear, especially if you feel your family’s financial situation may affect your chances at a need aware college, but without knowing how a college will treat you, you run the risk of greater disappointment when the financial aid award doesn’t come close to making the school affordable.

In the college search and application process, information is everything.

If you would like some assistance with your college search, contact me today for a free 60-minute consultation.

Here’s what other families like yours are saying about how Dobler College Consulting made a difference for them.

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Eric May 04, 2015 , , , , , , , , , , , , , No Comments
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The Benefits Of Applying To Liberal Arts Colleges

Ursinus College

Ursinus College

Whenever I start working with a new student, I have them complete an assessment for me. I designed the assessment based on a decade plus of working with students as both an admission counselor and an academic adviser and one section focuses on college attributes: size, location, cost, campus atmosphere, etc. As we break down their answers, the conversation inevitably arrives at the differences between research universities and liberal arts colleges. As I advise my students, here are some of the benefits of liberal arts colleges that any applicant should consider.

Smaller Classrooms

Since most liberal arts colleges enroll less than 3,000 students, the resulting class sizes are smaller than what you find at larger, public universities. Instead of passively sitting in a lecture hall with 300 students, you will find yourself in a class with 15-20 students. The classes are more active and revolve around discussion and debate. Professors will know your name and will be more vested in your learning and growth.

Focus On Teaching

Most liberal arts colleges have little to no graduate school population. The key here is that opportunities for research and special projects are therefore readily available for undergraduates. It also means that courses are taught by the professors, not graduate teaching assistants and that you have more access to them to talk about what you are learning and what you want out of your college experience.

Cost

A long standing myth is that liberal arts colleges, due to their published cost, are more expensive to attend than public universities. However, liberal arts colleges can cost the same as public colleges due to their ability to award significant merit-based or need-based scholarships. Couple this with the fact that liberal arts colleges do a much better job graduating their students in four years than public universities do, and you could realize significant cost savings.

Critical Thinking

As much as you may want to attend a public university for a specific pre-professional major (though many liberal arts colleges like Ursinus College do offer pre-professional majors), liberal arts colleges are focused on teaching students to think critically, to analyze problems and to develop solutions to those problems. Show me an employer who doesn’t value that in a candidate.

Networking & Relationships

Because the environment is smaller, the relationships which are formed with other students, professors and staff are often stronger, more intensive and long-lasting. Whether it’s being mentored by a professor or forging relationships with classmates that may provide long-term professional opportunities, liberal arts colleges help you develop what you know as much as they help you grow through who you know.

While a liberal arts college may not be for everyone, there are some key benefits to be had. At the end of the day, you have to spend the time to understand what it is you want out of your college experience so that you can make the best decisions for yourself.

If you would like some assistance with your college search, contact me today for a free 60-minute consultation.

Here’s what other families like yours are saying about how Dobler College Consulting made a difference for them.

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Eric Feb 09, 2015 , , , , , , , , No Comments
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Making The Most Of Your Scholarship Search

Making the most of your scholarship search

 

With the frenzy of college application deadlines finally starting to wind down, it’s time for high school seniors to turn their attention to private scholarships. While the majority of scholarship money will come directly from colleges in the form of merit scholarships, there is a lot to be said for spending some time searching for private scholarships.

And while you might be burnt out from your college application process, here are some ideas on how you can make the most of your scholarship search.

 

Searching for scholarships is like a part-time job. It’s not a one and done deal. The more you search and the more you apply, the more likely you are to win something.

Beware of scams. It should never cost you more than a postage stamp to apply for a scholarship. Also NEVER give out your social security number or bank information.

Start your search locally and be prepared to do the work that other students won’t. Check out scholarship opportunities through employers, your church, local organizations, your bank or credit union, the town library and, most importantly, your high school’s college counseling office.

Search smarter, not harder. To narrow down internet search results, trying searching more specifically such as “accounting scholarships 2014 2015.”

Your major matters. If you know what you want to major in, you should start looking for scholarships through professional organizations and associations affiliated with your field. For example, here’s a list of scholarships offered through the National Society of Professional Engineers (NSPE) for students majoring in engineering.

Make good use of social media. The ScholarshipExperts.com Pinterest board has over 1,300 scholarships!

Look for scholarships with essay requirements. Then, apply the same rules for college application essays: Grab the reader’s attention in the first two sentences and tell a story. If your essay bores you, it will most definitely bore the scholarship selection committee person who has to read it.

At the end of the day, scholarship searching is a time-consuming process. Pace yourself and stay positive.

If you would like some assistance with your college search, contact me today for a free 60-minute consultation.

Here’s what other families like yours are saying about how Dobler College Consulting made a difference for them.

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Eric Jan 13, 2015 , , , , , , , , No Comments
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The CSS/PROFILE: The “Other” Financial Aid Application

The CSS Profile The Other Financial Aid ApplicationThe CSS/PROFILE went live on October 1st officially kicking off the start to the financial aid season. Ironically enough, many families don’t even know the CSS/PROFILE exists.

It does and here’s what you need to know about it:

1. While every college requires a student to file a FAFSA to qualify to federal need-based aid, over 200 mostly private colleges require students to complete the CSS/PROFILE as well for consideration of scholarships.

2. Here in Connecticut that list includes: Connecticut College, Fairfield University, Quinnipiac University, Sacred Heart University, Trinity College, University of New Haven, Wesleyan University, and Yale University.

3. While the FAFSA is a free application, the CSS/Profile is not. The initial application is $25 and then each subsequent submission costs $16.

4. Unlike the FAFSA, a family’s home equity is taken into account as an available asset.

5. If a family owns a business, 100% of its equity will be assessed.

6. Assets held in the names of siblings will be considered parental assets and assessed as such increasing the parents’ EFC.

7. Only untaxed social security benefits for the student will be excluded whereas benefits for the parent will not be excluded.

8. Pre-tax contributions to flex-plans for healthcare and dependent care are assessed as untaxed income.

9. Schools have their own deadlines for when the CSS/PROFILE should be filed and these dates can range from as early as sometime in November for Early Decision or Early Action applicants to as late as February for students applying Regular Decision. When in doubt, families should always check the school’s website or call the financial aid office to verify deadlines.

As you can see, there’s a lot that goes into the CSS/PROFILE. It’s costly, it’s invasive and it’s just another hurdle standing in the way for many students and their parents.

If you would like some assistance filing the CSS/PROFILE as well as the FAFSA, contact me today. Like an accountant would with your taxes, I can help you gather the documents you need, assist you in the filing of both applications and then also help you with appeals should the need arise.

Here’s what other families like yours are saying about how Dobler College Consulting made a difference for them.

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Eric Oct 03, 2014 , , , , , , , , , , , , No Comments
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What’s The Difference Between Early Decision & Early Action?

college consultant Southington CT

As I work with students and their families on college lists, one question that always comes up is, “what’s the difference between Early Decision and Early Action?”

Typically it’s followed by some sort of statement that sounds like, “I hate to ask a dumb question like this but I really don’t know.”

It’s not a dumb question at all.

In fact, like many other questions that come up during the college search and application process, the only dumb question is the one you don’t ask.

So, let’s talk about the difference.

Early Decision, also known as ED, is binding while Early Action is not. This means that if you apply ED to a college and are admitted, you are now going to be enrolling at that college. You’ve just gotten married, in a sense.
In fact, when you apply ED to a college, and you can only apply to one school as an ED applicant, the student, parents and school counselor all sign an electronic agreement on the application stating that, if admitted, the student agrees to immediately withdraw all other pending applications. You don’t get to see who else wants to admit you and you definitely don’t get to wait around for financial aid awards so that you can compare offers.

So, the ED school says, “yes”, and the student is locked in. Their college application process is over. And, most likely, this is all happening in November or December of their senior year.

Early Action, on the other hand, is non-binding. Students can apply to as many Early Action schools as they like and, if admitted, are under no pressure to commit early. They can wait on their remaining decisions and review their financial aid awards before committing by May 1st. Like ED, students admitted through Early Action are still hearing back earlier in the process than students who apply through Regular Decision (typically January or early February) but the key difference is that their options have not been taken away.

Which brings me to the most important factor in deciding to apply ED or EA.

If a student knows, without a doubt, that the college fits them in every possible way, that it’s THE place they want to attend and that the cost is something the family can afford without regard to financial assistance, then applying ED can work out great. Some of the most selective colleges in the country are more generous with their decisions during the ED round of applications and, therefore, a student’s chances may improve. Note that I did not say, “will” improve. Students who are not strong applicants to begin with will not improve their chances just by applying ED.

But, if you are worried about cost, and you do want to have options, Early Action is very clearly the better way to go.

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 60-minute consultation. Not sure if a college consultant is for you? Here’s what other families like yours are saying about how Dobler College Consulting made a difference for them.

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Eric Jun 12, 2014 , , , , , , , , , , , No Comments