It all starts with you. You need to know what makes you tick and examine the things that are important to you. You will then more easily be able to determine if you want to go to school and if so, what kind of school would meet your needs.
Before you start your search, take time to answer the following questions:
• Do I have an ultimate goal?
• Why do I want to go to college?
• What do I hope to achieve in college?
• What are my academic goals?
• What things do I want out of my college experience?
• Do I want to become involved in campus activities such as sports, student
government, music or theater?
• Do I want to be challenged academically?
• What do I want to study (what major am I considering)?
• What are my interests, attitudes, and abilities?
• What do I do well?
• What possible jobs or careers interest me?
• Do I want to enter the work force immediately after graduation?
• Is it important for me to have a good paying job when I graduate?
• Do I hope to attend graduate or professional school?
Now that you have answered questions about yourself, it should be easier for you to evaluate the kinds of schools available. There are many kinds of schools across our nation. They range from small community and technical colleges to private colleges and large universities. Each type of school has its own advantages.
The following in depth analysis will help you select or eliminate schools for further consideration based on the factors that are most important to you.
Majors/Areas of Study
Does this school offer courses/majors that interest me?
Will the program of study in my area of interest help me
achieve my personal goal?
How long does it take to earn a certificate or degree?
What percentage of the students graduate in four years?
What is the overall graduation rate?
Type
There are two basic types of post-secondary educational institutions. The first group includes community, technical, and junior colleges. These schools offer education or training programs that are no more than two years in length and lead to a license, a certificate, or associate’s degree. The second group consists of four-year colleges and universities that offer bachelor’s degrees and sometimes graduate and professional degrees. Schools from both groups are either public institutions that are tax-supported where students seldom pay more than 30 percent of the actual cost with the state paying the balance, or private institutions. Public institutions have two sets of fee structures: a lower fee for tax-paying state residents and higher fees for nonresidents. Private colleges are not tax supported and provide their own funding. They are generally more expensive but can usually allow more flexibility in customizing financial aid packages.
Size
Would I like to attend a small school?
Would I be happier at a large college or university with bigger classes?
Small - under 3,000 students
Medium - between 3,000 and 10,000 students
Large - between 10,000 and 20,000 students
Largest - over 20,000
In smaller schools:
Classes are often smaller and provide
students greater interaction between
students and teachers.
Students have more opportunity to contribute
to class discussion.
Professors may get to know you better. This is especially helpful when doing
research or asking for recommendations for jobs or graduate school.
Smaller schools tend to place greater emphasis on personal development.
Students have more opportunity to participate in extracurricular activities.
It is often easier to be a big fish in a small pond.
In larger schools:
There is a greater range and variety of courses offered.
It is easier to combine fields of study that include engineering.
There are more advanced facilities and resources available at large universities.
Nationally known and popular sports teams usually come from large universities.
Many students prefer the anonymity a large school offers.
Location
Is distance from home important?
Do I want to consider only schools located in a certain region, state, metropolitan area, or my hometown?
Do I want to get home frequently, or do I see this as an opportunity to experience another part of the
country?
Is climate important to me?
Campus setting—Urban or suburban?
Do I prefer an urban environment with easy access to museums, ethnic food, and major sports teams?
Am I looking for the quintessential college town experience complete with big time college football and
basketball?
Would I prefer being in a rural setting with access to skiing, hiking, and camping?
Is weather a major consideration?
Cost
Does this school offer a good education at a reasonable price?
How much is the total cost (tuition plus living expenses)?
What is the average rate of student indebtedness for each school?
Can my family help pay for college? How much?
How is financial aid awarded? Will I qualify?
Will I qualify for grants, merit scholarships,
work-study, low interest loans, etc?
Are there ways I can save money while in school?
Will I need to find a part-time job?
Can I realistically afford this school or is there a
more reasonable financial choice for me?
Academic atmosphere
Am I interested in business, engineering, or education?
Do I want a liberal arts education?
What level of academic competition do I want?
Do I want to be at the top, middle, or bottom of the class?
Is the teaching style traditional or innovative? How involved is technology in the
curriculum?
Is this school on semesters, quarters, or special calendar programs?
What are the core requirements for graduation? How many?
Are there academic programs such as accelerated programs or work-study
programs?
What is the average class size?
What is the average student to faculty ratio?
What is the total number of faculty?
How many of the faculty have advanced degrees?
Who teaches most of the undergraduate classes - full professors or teaching assistants?
How valuable is a degree from this school?
Where does U.S. News and World Report rank this school?
Social Atmosphere, Culture Composition, and Quality of Life
In what kind of social atmosphere would I be comfortable, safe, and productive?
Are residence facilities coed or single sex?
What are the housing options? Is housing guaranteed for all four years?
Are there substance free dorms? Quiet floors? Single rooms available?
What is the student body profile?
What is the gender balance? Do I prefer a single sex or coed campus?
Is there diversity?
Is there a specific religious or ethnic affiliation?
Are there fraternities and sororities? How important is Greek life on campus?
Is the school a “suitcase school”, or are students around on weekends?
Is the political atmosphere liberal or conservative?
Is the political point of view important to me?
Facilities
Does this school have adequate facilities?
(Libraries, dormitories, classrooms, laboratories, gym, sports equipment, pool)
Do dining facilities accommodate any special dietary
needs?
Athletics
Are there varsity sports for men and
women?
Do I want to play sports?
Am I a sports enthusiast?
Is it important to me for my school to
have a big name sports program?
Activities
What are the major school activities?
Are there extracurricular activities
that interest me such as dance, theater, concerts, bands, etc.?
Services/Security
What kind of campus services are important to me?
Are there adequate health and counseling services?
Is there any transportation service?
Are there specific religious or support group services available?
Are there safety and security measures in effect to protect the students?
What is the crime rate of the college and nearby town/city?
Job Placement/Graduate Study
What is the job placement rate for students who graduate?
What percentage of the students go on to graduate school?
You will undoubtedly want to discuss the factors of concern with your family and seek advice from friends. It will be especially helpful to try to talk to those who have attended some of the schools you are interested in, but it is also important to seek information directly from the schools. As you narrow your selection, it is time to write the schools to request school catalogs, information on the placement of graduates, and anything else you would like to know. You can also visit the many websites dedicated to college searches.
HOW MUCH DOES IT COST?
Cost is one of the most important factors to consider in making your college decision. The College Board reports that college tuition and fees for 2003-2004 have increased 6.0 percent at four-year private institutions, and 14.1 percent at four-year public institutions compared to 2002-2003 costs. The increase is 13.8 percent for two-year public institutions. Nevertheless, a college education is still within the grasp of all Americans. Students and their families should consider the cost of an education as an investment in the future. It will provide personal and financial dividends for a lifetime. Consider that the gap in lifetime earning potential between a high school and college graduate is over $1,000,000! It is clear that short term sacrifices are more than repaid in personal and financial dividends for a lifetime.
The following charts show the national average annual costs for public and private colleges in the United States.
Source: Trends in College Pricing 2003. Copyright © 2003 by College Board. Reproduced with permission. All rights reserved. www.collegeboard.com.
College Expenses Worksheet
You can estimate the recurring college expenses by reading the information published in each school’s financial aid bulletin, by talking to current and former students, and by recording your current monthly expenses that will occur while you are in school.
Use the following worksheet to estimate your monthly and yearly expenses:
EXPENSE PER MONTH PER YEAR
School related expenses:
Tuition $ . $
Books $ . $
Fees $ . $
Living expenses:
Housing $ . $
Food $ . $
Utilities $ . $
Transportation $ . $
Clothing $ . $
Personal needs $ . $
Laundry and dry cleaning $ . $
Phone/Cell phone $ . $
Miscellaneous:
Medical insurance $ . $
Car insurance $ . $
Car maintenance $ . $
Car or other loan payment $ . $
Credit card payment $ . $
Entertainment/Recreation $ . $
Other:
_______________ $ . $
_______________ $ . $
NOTE: One of the biggest mistakes students make is underestimating the amount needed for expenses such as clothing, transportation, medical bills/insurance, and entertainment/recreation.
Family Expenses Worksheet
Parents who want to help pay for their child’s education can use the following worksheet to help determine how much they will be able to contribute. Students who are married and/or have a family, should also use this worksheet.
EXPENSE PER MONTH PER YEAR
Rent/mortgage $ . $
Heat $ . $
Water $ . $
Sewer/garbage $ . $
Electric $ . $
Telephone $ . $
Mobile phone service $ . $
Internet service $ . $
Cable TV $ . $
Food $ . $
Clothing $ . $
Child care $ . $
Car loan $ . $
Car maintenance $ . $
Gasoline $ . $
Life insurance $ . $
Medical/Dental insurance $ . $
Other medical $ . $
Prescriptions $ . $
Vision care $ . $
Tuition $ . $
Entertainment $ . $
Physical fitness $ . $
Newspaper delivery $ . $
Subscriptions $ . $
Savings $ . $
Investments $ . $
Charitable contributions $ . $
Credit cards $ . $
Other $ . $
Estimating Your College Budget
Many things can affect the amount of money you will need to cover your expenses while you are in college. For example, costs will vary considerably if you have in-state vs. out-of-state status and if you live at home, on-campus, or off-campus. The best way to plan for those expenses is to take time to develop a budget, calculate your assets, and determine how much money you will need. In the two previous sections, we have outlined typical recurring expenses. Now you need to determine your assets. Consider the following:
ASSETS AMOUNT
Personal savings $
Student’s earnings $
Scholarships, grants $
Aid from parents and/or other relatives $
Veterans benefits $
Stocks, bonds $
Other resources $
Total $
How much of this amount can you afford to spend in covering your expenses on a monthly basis?
The next step is to figure out your estimated budget:
• Add your monthly income and/or assets available
• Subtract estimated monthly expenses
(from college and family expenses worksheets)
• Calculate remaining funds available or amount of deficit
If you determine there is a deficit, that amount is the amount you will have
to acquire through part-time employment, student loans, scholarships, etc.
Reducing Your College Tuition and Other Costs
With a little research and prior planning, you can identify many ways to cut costs while you are in school.
Consider living at home
Consider living at home and attending a community college for the first two years and then transferring to a four-year institution. Low tuition cost, open admissions, convenient locations, and a wide range of courses make community colleges readily accessible to everyone. If you attend a four-year school that is within commuting distance, consider living at home to save money.
Compare housing options
If you plan to live away from home, compare the cost of living in a dorm with that of sharing an apartment. The apartment cost will often be less than the dorm. See if private cooperative housing is available. Co-ops require you to do a certain amount of work—washing dishes, cooking, cleaning, etc., but the cost can be half as much as living in campus dorms.
If you live on campus, take advantage of special payment plans for room and board. Although many schools require room and board to be paid prior to each semester, most of those schools now offer deferred payment plans that will allow you to pay on a monthly basis.
Employment
The majority of students work part-time while they are in college. The average student can work up to 20 hours per week without negatively affecting his or her schoolwork. If you can find a job that pays more than minimum wage, you can expect to earn around $200 a month. Some students earn extra money by working in sales, waiting tables, life guarding, bartending, painting, substitute teaching, or tutoring. There is the possibility of finding a job on campus, such as working in the student union, bookstore, gym, cafeteria or library. There are also federal and state work-study programs in colleges across the nation. Students in these programs work about 10 hours a week and earn between $6 and $7 an hour.
Summer opportunities
Make the most of summer opportunities to work and save money for the next year’s expenses or to take transferable summer courses at a community college for a fraction of the cost of tuition at your college/university. If you are interested in this last option, be sure to check with your school to verify that the credits will transfer.
Buy used textbooks
Textbooks are one of the major expenses you will face at college. You can save up to 50 percent on books if you buy them used. The key is to start early. As soon as you register for your classes, make a list of the books you will need. Write down the title, author, edition, year of publication and cost if new. Start your search by asking friends or other students who took the same classes. If they sell their book to you for half-price, that is more than they would get by selling it back to the bookstore and less than you would pay if you bought the used book at the college/university bookstore. If you cannot find used books from friends, your next best buy would be at the college/university bookstore or on the Internet from a number of online bookstores that stock used textbooks. If you choose to buy online, ask if they will take the book back if it is in poor condition, if they guarantee a delivery date, and if they will buy the book back at the end of the semester and at what percent of your original cost.
Leave your car at home if you can
Many colleges do not allow you to have a car at school during your freshman year. Before you decide to take a car to school, when authorized, decide if the cost of parking, maintenance, and insurance make having a car at school cost effective.
Try not to eat out very often
Try not to eat out, or at least limit the number of times you eat out each month. If you live in the dorm, consider the campus meal plans available. If you live in an apartment, you will save money if you shop for groceries and make your own meals.
Check out free entertainment and recreation on campus
Limit what you spend on entertainment and recreation. Campuses offer many free forms of entertainment such as sporting events, movies, plays, concerts, and promotional fairs. For recreation, take advantage of the school gym for activities like basketball, racquetball, lifting weights, and aerobic conditioning.
Save money on phone calls
You can save a considerable amount of money by making long distance calls during off-hours, using prepaid calling cards, or investing in a cell phone with a long distance plan included.
Managing Your Money and Using Credit Wisely
The key to successful financial management depends upon realistically understanding and meeting your financial obligations. If you form good money management skills now, they will benefit you the rest of your life. There are tools to help you. Sticking to the budget you have just laid out is the first tool. You can use your budget to track your actual expenses. It can be a real eye-opener, revealing things about your spending habits, impulsive purchases, and unexpected needs that were not readily apparent.
The second money management tool is using credit wisely. In an article entitled “Using Credit Wisely” The USAA Education Foundation points out:
“When used properly, credit can be a helpful financial tool...
On the other hand, using credit for vacations, dining out, holiday gifts, clothing or impulse spending can lead to trouble if you can’t pay the bills within a reasonable amount of time. With credit, it’s easy to lose track of how much you are spending because you don’t immediately feel the impact. When you begin carrying balances, you pay interest rates that typically range from 14 percent to 22 percent—charges that quickly add up.
To avoid these charges, try to pay in cash as often as possible...
If you like to use charge cards for the convenience of record keeping, track your spending. One way to do this is to keep your charge receipts together in an envelope with a running total of your purchases on the outside. If the total exceeds an amount you feel is appropriate, then it’s time to curtail your spending. There’s an added benefit to this system: when your statement arrives, you can check its accuracy using the receipts you have saved.
Aside from credit card spending, another common use of credit is automobile purchases. Financing a vehicle is a perfectly acceptable use of credit, but the shorter the payback period, the better.
As vehicles have become more expensive, the typical length of car loans has been extended from two or three years to four or five.
The longer the payback period, the greater your finance charges. As a rule, credit terms should provide for loan repayment before the item you are purchasing is likely to need replacing.”
Reprinted with permission from Managing Credit And Debt, a publication of The USAA Educational Foundation, a nonprofit organization, copyright 2002. For more information on this topic, visit www.usaaedfoundation.org or order this printed booklet by calling toll-free 1-877-570-7743.
Debt Danger-Signal Quiz
Warning signs of over indebtedness come long before the collection notices from creditors. The quiz that follows will help you assess how dangerously you are living when it comes to credit:
1. Are you borrowing to pay for items you used to pay for with cash?
2. Is an increasing percentage of your income going to pay debts?
3. Are you paying bills with money earmarked for something else?
4. Are you tapping your savings to pay current bills?
5. Is your emergency fund of 3-6 months living expenses inadequate or
non-existent?
6. Can you make only the minimum payments on your revolving charge
accounts?
7. Are you extending repayment schedules—paying in 60 or 90 days bills
you once paid in 30?
8. Are you near or at the limit on your lines of credit?
9. Do you take out a new loan before the old one is eliminated or take out a
new one to pay off an existing loan?
10. Are you unsure about how much you owe?
11. Are you chronically late in paying your bills?
12. Are you threatened with repossession of your car, cancellation of your credit
cards or other legal action?
If you answered yes to any of questions 1 through 5, you should reduce your credit use and be careful of other signs of overspending.
If you answered yes to any of questions 6 through 10, it could mean you are heading into trouble and should discontinue credit use. Consider seeking help in developing a budget and debt repayment plan.
If you answered yes to questions 11 or 12, you are in serious trouble and should seek credit counseling help immediately.
Reprinted with permission from Managing Credit And Debt, a publication of The USAA Educational Foundation, a nonprofit organization, copyright 2002. For more information on this topic, visit www.usaaedfoundation.org or order this printed booklet by calling toll-free 1-877-570-7743.
CRITERIA SCHOOLS USE FOR ADMISSION
It will be to your advantage to familiarize yourself with college admissions criteria early in high school so you can make yourself a desirable candidate. Keep in mind that admission standards are not barriers but guidelines to show how you compare with others. When you have a clear understanding of the minimum requirements to apply, you can improve your chances for admission by exceeding those requirements. Although colleges and universities consider many factors, your high school record is the most important. That includes not only the courses you take but also the grades you make. Some schools place more importance on standardized test scores than others. Since most schools now publish general information about their freshman classes, you can look up average test scores for schools that interest you and see how your scores compare.
Schools look for qualities and or accomplishments that make you unique. You need to show the original aspects of your personality, what you are involved in, your unique talents, places you have been and things you have seen. Colleges look for well-rounded students who have demonstrated achievement in different areas.
The Well-Rounded Student
Admissions committees like to see that you not only have done well in your schoolwork but also that you have been involved in outside activities such as sports, student government, academic clubs, school paper, band, chorus, etc. They will pay special attention to any specific talents or accomplishments you may have. For example, if you have spent a long time working on your goal as an artist, musician, gymnast, dancer, or athlete, it demonstrates the kind of sustained commitment, energy, and focus that colleges are looking for. In this case, you should highlight the depth of experience in one specific area rather than limited experiences in many areas.
It is important to mention jobs you have held or volunteer work you have done. It will make a strong impression on admissions personnel if you can show how you have grown and benefited from all you have experienced. It is the combination of your record and all of your unique experiences that will play a significant role in the admissions process.
The most common factors considered for admission to college are outlined below.