December 2010 Counselor News
share this page- Now is the time to be hard at work completing applications for admission. The earlier you complete applications, the earlier you will have admission decisions and be able to make a firm college choice. In addition, many competitive scholarships have deadlines in January so getting applications completed before then will keep you on track for next steps. Ask a couple of people — teachers, parents or friends — to look over your applications, especially the essays.
- Respond immediately to any requests for additional information from colleges to which you’ve applied.
- Be thoughtful about where you put down a deposit. Tempting as it may be to make deposits at multiple schools, double and triple depositing is unfair to your peers if you “occupy” a spot you don’t intend to take — and it is difficult for colleges who are saving a spot for you. Aim to make a decision and stick with it.
- Focus on scholarships
- Many colleges offer a variety of scholarships and grants to help you with the cost of college. Some scholarships have separate application processes. Some are competitive while others are simply based on your credentials. Find out what’s available at the colleges to which you’ve applied and make a list of the deadlines.
- Seek outside scholarships that you can take with you anywhere; there’s no limit to how many you can receive. These scholarships are awarded for a variety of reasons including intended major, community service, faith-based activities, personal achievements and more.
- Sites like FASTWEB and Scholarships.com are good resources.
- Start a list of the qualities that are important to you in a potential college (academic programs, location, size, internship options, extracurricular opportunities, etc).
- Check out the Web sites of schools that rise to the top of your list. Request information from any or all of Minnesota’s Private Colleges.
- To get an estimate of an expected family contribution and eligibility for financial aid, students and parents may want to consider completing the FAFSA4caster. This tool has fewer questions than the actual FAFSA and doesn't require personal information.
- Students and parents may complete the Free Application for Federal Student Aid (FAFSA) as soon as January 1, but it's best to wait until federal taxes are completed.
- Students and parents should be prepared for the possibility of being selected for a federal process known as "verification." Verification requires the student and parent(s) to submit tax documents and other supporting information directly to financial aid offices, to verify the information shared on the FAFSA. It is critically important for this information to be submitted when requested. Questions about verification should be directed to the college’s financial aid office.
- The Federal Student Aid for Counselors website helps counselors answer common questions, plan financial aid events and more.
- Urge students to identify the financial aid go-to person at colleges of interest. This person can answer questions and help ensure that deadlines aren’t missed.
As you know, taking time to compare costs is worthy of students’ time. When it comes to college, the one with the lowest listed price may not be a bargain in the long haul. Our new handout, “How much does college cost?" outlines three steps for families:
Step 1 — Think about the amount you’ll actually pay (which usually isn’t the listed price).
Step 2 — Consider graduation rates. At Minnesota's Private Colleges, students are more likely to graduate in four years, avoiding financial outlays for a 5th or 6th year.
Step 3 — Weigh the value of the investment. A high-quality education pays many dividends, many of which don’t show up on paper.
A comparison of costs should include consideration of graduation rates and lost earnings when students take longer than four years to graduate.
- The four-year graduation rate at the nonprofit Minnesota Private College Council (MPCC) institutions is 64% — compared to the six-year graduation rate of 63% at the University of Minnesota and 48% at MnSCU four-year institutions.
- While Minnesota public institutions begin with twice as many incoming students each year, Minnesota's private colleges actually surpass them four years later in their number of college graduates.
- In fall 2010, enrollment at MPCC member institutions increased 1.1% from fall 2009. Also, the share of students of color in our undergraduate enrollment has risen quickly in recent years; 17.2% of this year's freshmen are students of color.
