More money from your college

[daveshoe]

I was watching Nightline or somesuch show and the guest outlined how colleges decide how much scholarship money to award your son or daughter--how to maximize it.



1. Apply to six or more colleges--this sets up a bidding war for the student

2. Make sure that the ''first choice'' school is not listed as the first item on the Free Application For Federal Student Aid[FASFA] application[see #1]

3. Before applying to a college,find out what constitutes the average ACT score and make sure that the applicant is in the top 25 percentile of ACT applicants to that school. [Verify this info on the school's website,or simply call the school to find out]

4. Avoid ''early enrollment'' That is a tactic of colleges that often promise first pick of housing. There is little incentive to the school to make you a better deal;that is saved for later when they are trying to get all the rooms filled.

5. ACT scores will earn you scholarships,but plan for a personal interview to raise the award. Most institutions give you a grand as a minumum for going thru the process. Interview at a ''less desirable'' choice first to get a feel for the process.

How well does this stuff work? Figure on 30 percent higher award if you follow this advice. Just by dumb luck,and circumstance my daughter did all these things--she was top 30 out of 2200 in awards granted. Her ACT score was below average of the people who interviewed for the scholarships. I might also add--DO IT NOW!! As a parent you may need to really push for college visits. It is natural for your kid to avoid thinking about the future. You also should be getting all your tax records ready for a very early filing. Some schools start handing out money by 2/15,and you do not want to be left out... .

 

[TowPro]

I might also add--DO IT NOW!! As a parent you may need to really push for college visits. It is natural for your kid to avoid thinking about the future.....

Mine starts 9th great next year (that alone cost $5400 per year). When do I start this Collage crap?

 

[Digger-Bear]

First advise is to make sure the kids crack the books in high school so they will test out well.



I am constantly amazed on the number of students that show up for tours and won’t stop by our building to see the facilities where they plan to spend the next four years of their lives. I am also surprised they rarely ask about departmental scholarships we offer. These are above the university scholarships and not promoted by the main office very well.



Other ways to maximize your money is to take the most hours allotted. Often kids will sign up for the minimum hours to stay full time (read lazy) rather than the max of 18 hours.



They also don’t get advised by faculty in their area of study. Often university level advisors don’t understand the specific nuances of a program and get the freshmen into anything just to get them out the door. This can, due to prerequisites in the upper level classes, make a student lose as much as a year waiting for a class they should have been enrolled in from the get-go.



Finally is they should talk to the faculty – before and after enrolling in school. We may look old and grumpy at times but, to find a student that is actually interested in their classes and willing to learn excites us. In turn, there often is a lot they can do to ease a student through the system gracefully.

 

[daveshoe]

About Digger Bear

He knows his stuff. We were in the final offer stage in June '05 and one school started asking all kinds of financial questions that made it clear their offer would not stand. It is [now] clear that they were at full enrollment and wanted us gone to maximize their own institutional bottom line. Digger got our family through the problem off forum. Really nice of him to help.

Funny thing about this institution--A friend of mine knew some people in the finance dept. who had to take a dive for stuff the boss did. It finally caught up with the university as one higher up was indicted and the president resigned [retired]