sharing ideas for staying out of life's ruts...

Tuesday, August 10, 2010

Your finances: Instead of going in debt for college

(written by a student who did college debt free in only 3 years)
Ahoy, Senior Sailor! Your final voyage is about to set off! School has started. Prom, senior skip day, senior picnic, and graduation are right around the corner, so you should just kick back and enjoy the cruise, right? WRONG! Senior year is THE critical year for college preparation. Properly navigating this year can determine whether you’re attending your dream school, drowning in student loans, or working on the Jolly Rodger because you didn’t consider college until it was too late. Here are 10 things to do to prepare for college and catch that elusive big fish- scholarships.

1. Make a CollegeBoard.com Account & check it weekly
If you do nothing else your senior year, DO THIS! This website was created by the same company that creates the SAT. It’s full of all sorts of data on colleges, scholarships, test prep, and even has a customizable financial planner. This is the single most valuable tool in your college preparation arsenal, use it! (No they didn’t pay me to say this.)college board
2. Take the SAT or ACT again.
Many guidance counselors stress the importance of taking these tests during your junior year but forget to mention that taking it senior year may be a great investment too. Colleges accept these scores for scholarship consideration until spring of senior year; One hundred more points on the SAT may translate to $5,000 of scholarship money. Sign up for a test-prep class first thing senior year and take both tests at least twice. It’s definitely worth every penny! (Note- Because I was on a tight budget, I asked my teachers to tutor me after school instead of enrolling in a formal test-prep class. Most were more than willing.)

3. Sign up for Scholarship Websites
There are several websites that compile private scholarship information and put it in one place. These websites often allow you to enter your information and experiences and bring up a relevant list of scholarships for which you qualify. I suggest searching by dollar amount and applying to the biggest ones first, then begin working by deadline due. Use a planner to write down scholarship deadlines and try to apply for at least one every week. Some scholarships only require that you submit your name in a random drawing. Some are given to every individual who qualifies and applies. (Note- Be very wary of any “scholarship” that requires you to pay to apply. Do not apply unless you can verify their legitimacy.) Scholarships.com Fastweb.com

4. Research Schools
Use the collegeboard.com and .edu websites to look up school statistics, and then compare them with sites that rank schools. What is the cost of attendance (COA)? What is the average/minimum test score required to attend? How big is the school? How good is their intramural/ varsity sports program? What % of student who apply get accepted? How many people commute/live in dorms/do Greek life? Start creating an idea of what you’re looking for in a university and compare that with how the school is ranked (your intended major or overall if you’re unsure). I knew I wanted the best ranked business school for my COA, but some of my peers were more concerned with the amenities of the school. By researching, you can develop a picture of what a school can do for you! http://colleges.usnews.rankingsandreviews.com/best-colleges/

5. Use College Visit Days
Looking at colleges on paper (or a computer screen) is one thing. Visiting a school and getting a feel for how the campus functions is totally different. After researching, I picked 5 colleges to visit and took notes of how I felt after each one. I was surprised to see that some front runners going into the search were not the schools I could see myself being happy at. Call ahead to schedule the campus visit and talk to the students in the admissions office. I was able to cross one school off my list after I talked to 3 very unhelpful students who gave poor impressions of their university. Take a close relative or friend who knows you well to the visit, but don’t let them bias your decision. The next 4 years of your life (or 20% of your life so far) will be spent here and only you can decide on the best fit.

6. Write 2 super amazing entrance essays
Have the very best English teacher at your school review two admission essays that are applicable when applying to almost every school. Start with a grabbing introduction that tells a story about who you are, and end with a revelation that displays change and development. Make sure to have references to the things you have accomplished while in High School as it really makes your resume come alive. Don’t be afraid to get creative. Schools eat up uniqueness! Here are some examples of what your essays should look like: http://www.college-admission-essay.com/essays.html

7. Apply to at least 3 schools & their scholarships
I applied to every college that sent me a brochure waiving the application fee, for a total of around 20 colleges. By applying to so many schools I was able to “haggle” with scholarships. After receiving an offer, I’d call a comparable school and inform them of my offer at a competing school. Often they’d say they could match it or do better. If time is a constraint, be sure to apply to one relatively sure-bet, one that will offer you a large scholarship (often beneath your capability), and one “reach” where your test scores are at the lower end of what they normally accept. You’ll often be surprised to find that your great essay pushed you into a school you didn’t think you could get into. Note- Make sure that when you’re submitting your application, you’re also applying for scholarships & student housing- some schools make you complete two or even three separate applications. Don’t be afraid to call if you’re unsure.

8. Sign-up for AP classes and take the tests
My friends said I was nuts my senior year. I signed up for SIX AP CLASSES. They poked fun of me for doing homework senior year, or for spending time applying for scholarships instead of going to the Bowl-A-Rama. Because I took so many AP classes, I was able to graduate a full year early from college. This saved me over $45,000 and allowed my scholarships to be applied to student loans from the prior three years. Although I never bowled a 200, taking AP classes my senior year made me a rare occurrence- a debt free college graduate. (Note- If your AP score is on the borderline for what your college accepts, call and ask if you can get the credit anyway, or take the school’s placement exam. If the course isn’t fundamental to your major, you may find some unexpected leniency. I got 10 hours of Spanish credit this way.)

9. Ask Questions
Applying for college & scholarships is an aggressive process. You may find that building a repertoire with a few key people may go a long way. I made an appointment with my guidance counselor about once every quarter senior year to talk about the next steps in the college-bound process. He really helped me stay on track and also got me in touch with alumni of the schools I was interested in- one whom is even helping to “subsidize” my education. I also called my colleges of interest and asked to speak with students. I even went for a 3-day trip and stayed with a student majoring in my intended field. I went to class with her and spent the weekend living in a dorm. This really eased my anxiety about college. You'll find that asking questions gives you an advantage over students who just send off the paperwork and wait.

10. Have it all done & finished with by spring break
At this point colleges have had their applications open for awhile, and at some schools the deadline has passed and you’ve received an offer. You should be pretty set on where you want to go at this point, or at least have it narrowed down to two options and be waiting to hear back on final offers. The major senior year festivities are right around the corner and it’s finally time to enjoy this once-in-a-lifetime experience.



Applying to college may seem like a HUGE undertaking, but really it’s a great way to prepare for actually being in college. I found that working diligently senior year made the gap between high school and college narrow significantly. You’ll probably even find that with good time management skills, following the ten steps above don’t actually take time away from friends and family. I still had a solid social life senior year & really enjoyed myself.



Bon Voyage, Sailor. It’s your turn to brave the murky waters of your pre-college year. Good luck!
Written by Kathryn.

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