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How to Make a College List

By katie cantrell posted May 3, 2012

Finding the perfect school can be a daunting task. One of the most important steps to take is making a list of the schools that you want to apply to. Once you have a framework, it will be easier to narrow down your choices. Follow these steps to learn how to make a realistic list of colleges for yourself:

1. Make a Preliminary List
Write down all of the schools you might be interested in. This can be a long list of varied colleges; we’ll help you narrow it down in the following steps. Some preliminary factors to consider are location, small school vs. big school, and special programs, if you already know your intended major.

2. Compare Scores
Compare your GPA and SAT/ACT scores to the average scores of incoming freshmen at each university on your preliminary list. Every school lists that information on the “admissions” portion of the school website. For each school, note whether you fall on the low, middle, or high end of average scores. If your scores are well below the bottom 25% or well above the top 75%, consider eliminating the school from your list. Don’t waste time and money by applying to a school that you will not get into, or applying to a school that will be too easy for you.

3. Note Acceptance Rates
Look at the acceptance rates, also listed on each college’s website. Next to each potential school, note whether the acceptance rate is low (under 35%) medium (35-65%) or high (65-100%).

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Finding the Right Credit Cards for College Students

By katie cantrell posted April 25, 2012

Shortly after acceptance letters from universities arrive in your mailbox, credit card offers will start rolling in. Getting a credit card* can be a strategic move to establish good credit, which ensures lower interest rates on loans when you want to buy a car or house. However, there are so many different credit cards to choose from that picking the right card can seem overwhelming. Here are the most important factors to consider:

1. APR - APR stands for Annual Percentage Rate, and represents the amount of interest you will be charged per month on your account’s remaining balance. The average APR is 14.9%, but may be higher for first-time credit card holders. If you have a $100 balance with a 14.9% APR, you will owe the bank $14.90 in interest on top of the $100 you already owe. APR is the easiest way to rack up debt, so be sure to compare rates to find the lowest APR.

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2. Limit - Another factor to consider is the credit limit, the maximum amount of money that you can charge to your credit card. Limits for first-time credit card holders are usually fairly low, $300-$500. It’s best to start with a low credit limit to resist the temptation of spending thousands of dollars you don’t actually have, and to develop discipline.

3. Fees - Many banks will add in small monthly or annual fees for a variety of services and conditions. Be sure to ask your bank about regular fees, and also fees associated with late payments or overages. Check out your local credit union; they often have better deals and fewer fees. In a 2007 Consumer Reports survey of credit card reviews, credit unions ranked highest, and large banks ranked lowest.

4. Rewards - Many credit cards offer rewards in return for money charged to the card. Some credit cards reward a certain number of points per dollar spent, which can then be redeemed for cash back or gift certificates. Credit cards associated with certain airlines or stores offer rewards in the form of free airline tickets or store purchases. If you’re strategic in your spending habits, you can actually make money off of your credit card. However, be weary; stores offer rewards to lure people into spending money that they won’t pay off in time, resulting in huge interest debt. Read more »

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A few tips on winning college scholarships for high school seniors

By guest author posted March 28, 2012

Many times I meet high school seniors that ask me for my best strategies for winning college scholarships for high school seniors. My story is one of success but only because I knew exactly what I needed to do to get money for college. It’s not as hard as some people describe it and hopefully these few strategies that I give will bring some light to this whole issue. By the way, I’ve won thousands and thousands of dollars including one seven day trip to Washington D.C. I only say that so that you understand that I speak from personal experience.

The first strategy that you need to implement is what I call “order of importance.” That simply means that you make a list of scholarships starting with those that are most winnable to least winnable. This is where you have to think through your skills and abilities and the specifics of your scholarships. I ordered mine with that criterion in mind as well as how many competitors I would most likely have. If it was a local scholarship, I knew that I would most likely win but if it was a state wide competition for a scholarship then I would try to produce a higher quality application. Yes it may sound simple but you would be surprised that this is the reason that most students don’t have a chance at any scholarship.

College scholarships for high school seniors are usually more competitive in general because of the demand for them so it’s important to take all of this into consideration so that you continue to stay ahead of the pack.

Another secret that will get you a win is to get high quality scholarship recommendation letters. The reason for this is that judges usually get a sneak peek into your life when they read it. This, for many scholarship committees, is the deciding factors between two candidates. The only way to really improve the quality of the letters is to be genuine about what you do especially when it comes to community service. Whether you know it or not, the leaders in your community have an eye on you and if they see your commitment and dedication to your studies and the community, they are more likely to write a profound and meaningful letter. Once you’ve done these few things I mentioned, you will be well on your way to winning college scholarships for high school seniors.

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Money Saving Tips for College Students

By guest author posted November 25, 2011

Campus Activities: Campus activities like movie nights or math club usually mean free food. Take advantage of these opportunities to be involved. You may just make a new friend or two as well.

Buying Smart: Consider buying store brand items instead of name brand and think about buying in bulk at stores like BJ’s, Costco, and Sam’s Club. Also, look for some second hand stores and don’t feel awkward shopping there, you are not alone! You may be shocked by what they have and how much things cost. For example – one of our students last year found a Coach purse for $40!

Get a Job: You may have been given the opportunity for work-study but even if you weren’t, you can still look for a part-time job on campus or close to campus. Working while in college is highly recommended. Not only is it a great resume builder and networking opportunity, but you can meet friends and make some money so you won’t be hassling mom or dad. Some on-campus and work-study jobs may even let you do your homework or get studying done when you have down time.

Bank Accounts: There are a lot of different accounts out there and many banks have student checking accounts where there aren’t any fees or charges to keep a minimum balance. We suggest that you find a bank that has a local branch for both you and your parents. Your parents and you should each have a debit card and access to on-line management. Setting up joint accounts with your parent(s) as the primary account holder will help them easily deposit money as necessary. Link your checking and savings accounts to help with overdraft protection and to help you save money. Have your paychecks and all other funds directly-deposited into your savings, then transfer spending money to your checking account and try to spend only what you have in checking. This will help you save money now to fund future large purchases such as books, a computer, or maybe even a trip for Spring Break.

Credit Cards: Be aware of credit card hooks such as free prizes, a percent off today’s purchase for opening account, no interest for a certain number of months, etc. A free T-shirt may sound great now, but not so much when compared to the amount of potential credit card debt you may incur and a mark on your credit report. You can also look into Credit Unions or AAA, but if you do decide to have a credit card, we suggest having only one if possible. Be sure to minimize your credit card debt even after graduation; don’t forget about your student loans you will have to pay off. Also, typically if you are under 21, you will need to show that you are able to make payments (meaning you have some sort of income) or you will need a cosigner in order to open a credit card account. If you are under age 21 and have a card with a cosigner but want an increase in the credit limit, your cosigner must agree in writing to the increase.

Being money conscious from the start can seriously help you throughout college and you’ll be very thankful once you graduate.

Any additional tips to share? Leave your comments.

About Smart Track™ Toolkit: The toolkit is a web based service that assists families with everything from admissions and test prep, to student athletics and financial aid. Our intuitive software and on-demand workshops are key components to making sure students find their top choice colleges, and families can afford to send them there.

About the author: Laura Guarino is the Student Services Coordinator with College Planning Strategies, LLC. Laura has a degree in Human Development from Boston College and is currently pursuing a Master’s degree in School Guidance Counseling. She is also enrolled in a certificate program in College Admissions Counseling. Laura is at the forefront of the college admissions process for the families of CPS and The Smart Track™ Toolkit.

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Why the PSAT Matters

By jill muttera posted October 3, 2011

The standardized test that everyone seems to talk about when it comes to college admissions is the SAT. It is common to take the SAT at the end of junior year or the beginning of senior year. Therefore, many students decide to do their SAT test prep during their junior years, or perhaps over the summer before their senior years. However, if you want to get into your dream college, ace the SAT, and maybe even win a scholarship, you might want to rethink that timeline and be sure not to overlook another important standardized test: the PSAT.

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Why does the PSAT matter? The PSAT (or Preliminary SAT) is typically taken during the fall of junior year. One obvious reason to take the test is that it is great practice for the SAT. It is made by the same company that creates the SAT, the College Board, and tests the same three subjects as the SAT: reading, math, and writing. The types of questions and the directions are the same or similar to the SAT. Besides the content itself, it is also helpful to experience sitting down for a two to three hour test with minimal breaks before the real thing. When you receive your PSAT scores, you will also get an estimate of how you might do on each section on the SAT. This is an invaluable tool for helping you decide where to focus your studies.

The other benefit of taking the PSAT is the opportunity to participate in the NMSC, or National Merit Scholarship Corporation, scholarship program. If you score above a certain percentile on the test, you could become a National Merit Scholar. Different schools offer different amounts of scholarship money to high-scoring students. There are different levels that can be reached in this competition: Commended, Semifinalist, Finalist, and National Merit Scholar. Even if you don’t advance very far in the competition, you may be offered outside scholarships for receiving this distinction.

What does this mean for your SAT prep plan? For me, it meant doing my SAT review and practice early, the summer before the fall of my junior year when I knew I would take the PSAT, so that I would perform my best on it. I decided to take my SAT around the same time since all of the preparation would be fresh in my mind. If you decide to go this “early” route and are not happy with your SAT score, you still have lots of time to study more and take it again, and you’ll know that you prepared as well as you could for the PSAT. The PSAT is a a valuable practice tool that many people don’t realize can result in interest and scholarships from colleges. So don’t wait around until just before your senior year to study for the SAT and PSAT. Get started early so you can make most of all the advantages the PSAT has to offer!

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A Beginner’s Guide to Financial Aid Part II

By guest author posted September 13, 2011

In the last blog entry, we covered some of the basics of the college financial aid system and how it is used to determine how much money you could receive. In case you have forgotten, the key formula is “COA – EFC = NEED”. COA in this case stands for “Cost Of Attendance” and is pretty straightforward (just add up the cost of everything for one year of college). What I would like to focus on in this entry is the EFC, which stands for “Expected Family Contribution”.

The first thing to do is clearly define what your EFC is. Most colleges and universities will define your EFC as “the minimum amount your family can afford to pay for one student for one year of college”. It is important to identify key components of this definition. “Minimum” implies that your EFC is a starting point and you may actually have to pay more than your EFC (depending on the college your student chooses.) Also notice the “one year of college” part. This is because you should file for financial aid every single year, which means that your EFC will likely be different every single year. The reason financial aid is filed for every year is because situations change. Jobs are gained or lost, benefits will start or stop. Even the number of students in your family attending college at the same time could change, and all of these things impact your EFC.

Now in terms of actually calculating your EFC, college and universities will use one or two methodologies (read: formulas.) The first is the Federal Methodology (FM). This is derived with a formula the Federal Government came up with and is calculated when you submit the FAFSA. Every college in the country that awards federal financial aid requires the submission of a FAFSA, which means that all of these colleges will see your FM EFC. Some colleges will go a step further and they will use their own formula to calculate your EFC. This is known as using an Institutional Methodology (IM). This can get complicated because different institutions can use different IM formulas. However the basic IM formula was created by CollegeBoard and is calculated when you submit your CSS/Profile.

Now that you know there are two different EFCs, it’s probably best to figure out what’s included in these formulas. Simply put, the FM and IM formulas use the following: parent income, parent assets, student income, and student assets. There is a handful of other information that could be used (ages of parents, ages of younger siblings, certain monthly expenses) but income/assets of parents/students are the big players.

Keep in mind that since we’re dealing with two different formulas, income/assets could be assessed differently. One example is your primary residence. Any equity in the primary home is considered an asset in the IM formula, but primary home equity is not part of the FM formula. If you happen to have more than one property though, equity in the additional properties is considered an asset in both the FM and IM formulas.

Things get more complicated when you delve into the nitty-gritty of each formula. If you’re concerned about your EFC and how you’re going to be able to afford to send your students to college, it is usually best to consult with a professional college advisor. Much like a CPA helps you with your taxes; College Advisors (the ones worth their salt) are well versed in EFC formulas and the many different avenues for paying college bills.

Once you finish your applications and the college gets your EFC, its time to create your financial aid award. In the next series entry we’ll discuss Awards and Appeals, something you may need to utilize depending on your EFC, your award, and any extenuating circumstances you think may be affecting your ability to pay for college.

About the author: Justin Munio is a Business Development Manager and Financial Aid Consultant with College Planning Strategies, LLC. With a degree in mathematics from SUNY Geneseo and 4 years working in the CPS Financial Aid Department, Justin is at the forefront of the financial aid process for the families of CPS and the Toolkit.

About Smart Track™ Toolkit: The toolkit is a web based service that assists families with everything from admissions and test prep, to student athletics and financial aid. Our intuitive software and on-demand workshops are key components to making sure students find their top choice colleges, and families can afford to send them there.

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Unigo Expert Network: Experts Answering Your Questions

By guest author posted July 22, 2011

The Unigo Expert Network is a group of top education experts from across the US answering questions submitted by students and parents about college admissions and succeeding after high school.

See answers from the Director of Admissions at St. Michael’s College, and have your questions answered at www.unigo.com/expertnetwork.

“In all of your years working with students, what were some of the most unexpected successes you witnessed – I could use a little pick me up?”—Jamie S., Rutland, VT.

A: An A+ inspiring story

Recently, I came across a transfer student who was addicted to drugs and alcohol and was arrested several times in high school. At one point he even lived on the streets. At the time of our working relationship, he had been sober 18 months, was living a healthy lifestyle and earning straight A’s at his community college. He had submitted to Mount Rainier, ran marathons, and worked as a personal trainer. He also served as a mentor to others in the recovery process. He applied to three colleges last fall, and was admitted to all of them. He was frank about his background to the admissions counselors and was admitted to his first choice.

- Kiersten Murphy–Director – Murphy College Consultants

A: Somebody has to get in; why not you?

Lisa had a 4.3 GPA, a near-perfect SAT math score, and impressive extracurricular activities, but she was convinced she’d end up studying astrophysics at a large state university. Her dream school, she confided, was Harvard. “But I’ll never get in,” she lamented. “They take 7% of applicants.” “That means somebody gets in,” I said. “Why not you?” She applied to Harvard and several other colleges that were far less selective. That spring, against the odds, she became one of the Harvard 7%. It just goes to show: You’ll never know unless you apply. Breathe deeply and go for it!

- Lora Lewis—Founder, Educational Consultant – Lora Lewis Consulting

A: Sometimes good things do happen, but we all don’t win the lottery

This year I had a student denied at his dream school in California. He wrote to ask me if he had a chance if he appealed the decision. I was a bit skeptical. He told me his chances were slim, but the school did have a policy of accepting appeals and that the student needed to be clear in why they were asking. He wrote a very clear statement make very specific points. In late May he was admitted. While it is rare in this time of competitive admissions to “come out of the hole of denial” this student took the risk, accepted that his chances were slim, and took on the responsibility of writing a strong appeal.

- Hamilton Gregg—Educational Consultant – Private Practice

Don’t miss answers by the Associate Dean of Undergraduate Studies at Seton Hall, and more – at www.unigo.com/expertnetwork. To send your question to our experts, visit www.unigo.com/expertquestions

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A Beginner’s Guide to Financial Aid Part I

By guest author posted July 20, 2011

As most parents and students are aware, if you need money to go to college then you deal with the financial aid department. These are the people that are in charge of awarding grants, scholarships, student loans, and work-study packages. Figuring out how the college determines who gets money and who doesn’t can often times seem tricky, so let’s try to look at this process in as simple a format as possible.

Now, the concept is that financial aid goes to those families who need it the most. To determine this, colleges use two factors: Cost of Attendance (COA) and Estimated Family Contribution (EFC). Then, the financial aid department uses a simple formula: COA – EFC = NEED.

Your COA is pretty straightforward. It is the cost of tuition, room & board, books, fees, transportation, and an allowance for miscellaneous fees. The COA at a college can change every year, so financial aid is recalculated every year. Remember to include all of the items I just mentioned in your budget, since that is exactly what the college is doing when figuring out your financial aid. If you forget to factor in the cost of textbooks, you may not have enough money when you head off to college in the fall.

Your EFC is a bit more complicated because the college is trying to determine how much money they think your family can afford to spend on college. Unfortunately, your EFC is never going to be as low as you would prefer (unless of course it’s $0), but it is important to know what factors impact your EFC. There are many different things that go into the calculation of your EFC, but four of the biggest influences are Parent Income, Parent Assets, Student Income, and Student Assets. We will cover all of these in more detail in future blogs, so stay tuned as we continue the posts. Other factors that can influence your EFC include the number of family members in your household, the number of students in college at the same time, the ages of each family member, and even what state you live in. If this seems complicated, plenty of other families are thinking the same thing. Much like how a CPA can help you with your taxes, a good college advisor should be able to help you understand your EFC.

The last step in the process is to determine your NEED. This is high much financial aid you may be eligible for. Let’s say for example that your college has a COA of $50,000 and your EFC is $20,000. This means your NEED is $30,000 ($50K-$20K=$30K). Now, does this mean that you’re going to get a $30,000 scholarship? Not usually. Most colleges will award you some combination of grants/scholarships (free money) and work-study/student loans (self help). Keep in mind that money you receive based on this formula is called “Need-Based Aid”. Scholarships that you get for having a really high GPA or good SAT scores are called “Merit-Based” and are awarded based on separate criteria. Even if your EFC is higher than a college’s COA, you could still receive “Merit-Based” aid (so study hard!)

Next time we’ll talk about your EFC in more detail and explore the fact that there are 2 possible EFC formulas a college could use, each with a different set of questions.

About the author: Justin Munio is a Business Development Manager and Financial Aid Consultant with College Planning Strategies, LLC. With a degree in mathematics from SUNY Geneseo and over 3 years working in the CPS Financial Aid Department, Justin is at the forefront of the financial aid process for the families of CPS and the Toolkit.

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Unigo’s Expert Network – Experts answering your questions

By guest author posted July 1, 2011

The Unigo Expert Network is a group of top education experts from across the US answering questions submitted by students and parents about college admissions and succeeding after high school.

“What are some of the most unexpected costs for incoming freshman?”—Peter T., Covington, KY.

A: Shopping for college doesn’t have to break the bank!

When outfitting your new dorm room, try searching online and at discount stores. You can find the same fun, functional items for less money than at more expensive specialty stores. If you’re in the market for a new computer, be sure to check manufacturers’ websites as many offer college student discounts. Compare prices with your college bookstore – they often have very reasonable rates on computers, printers, and cables. And if you’re attending school in a colder climate than the one in which you currently live, consider shopping for outerwear in your new location, to get a better selection at competitive prices.

- Laura Favaro–Independent College Admissions Counselor – Favaro College Counseling

A: Buy before college to save them money once they get there!

It is important for you to identify what you like to do. If a club does not already exist, then form one. An extracurricular activity does not only revolve around your school, but look within your community, family, religious institution as well as your future interests. For example, shadowing a veterinarian for an extended period of time and volunteering at the local animal shelter demonstrates your passion, dedication, and future career goals.

- David Miller—Director of College Counseling – Stevenson School

A: Hurray! It’s time to go shopping!

In preparing for your first semester in college make lists of personal things you’ll definitely need and go to the nearest off-price, buy in bulk superstore to purchase them. Take the time to browse. You’ll surely find other things to add to the list. By doing so you’ll save yourself time and money since shops near your college may be more costly and not as convenient to get to. Also, check with your roommate before choosing electronic equipment that you both might be able to share. Last suggestion: Don’t forget the screwdriver, hooks and hammer to help you get your dorm room in shape

- Elinor Adler—Founder – Elinor Adler College Counseling

Don’t miss answers by the Assistant Vice President of Undergraduate Admissions at Ohio State University, and more – at www.unigo.com/expertnetwork. To send your question to our experts, visit www.unigo.com/expertquestions

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Unigo’s Expert Network – Experts answering your questions

By guest author posted June 9, 2011

The Unigo Expert Network is a group of top education experts from across the US answering questions submitted by students and parents about college admissions and succeeding after high school.

“I know that college visits are a great idea but my family doesn’t have the time or money to visit some of the schools I’m really interested in. What else can I do?”– Jennifer R., Tampa Bay, FL.

A: Begin by visiting colleges closer to home
Start by visiting a few colleges close to home—one in the city, one in a smaller town, a large campus, and a smaller campus. These preliminary college visits will help you discover the type of campus culture that will best suit you. Many students don’t have the opportunity to visit all the colleges that interest them. Fortunately, virtual tours are available on a number of websites including most college sites. Many colleges will have a student call, Skype, or email you if you’re interested in learning more about campus life. It’s a great idea to visit a college before you commit to attending, if at all possible.
- Robin Groelle– Founder – CollegeCounselling.com

A: Gather information on colleges if you can’t visit
College officers understand that not everyone can visit colleges. Between plane fare, rental cars and hotel stays, it can get costly. Students can visit colleges in their area to get an idea of college life and what they would like. Many college representatives travel and provide needed information during college nights. Attend college fairs to meet college reps and get questions answered. Do research on the internet as most colleges have thorough websites with information. Speak to other students and know that social media is active at colleges with online chats, interviews and webinars. Lots of information will make your eventual decision that much easier.
- Jeannie Borin— Founder & President – College Connections

A: Short of visiting a campus you can investigate and demonstrate interest
With the cost of gas, it’s no wonder families are begging off tours. Yet, admissions deans are increasingly adamant that if you’re within reasonable distance, you must visit or risk being rejected for lack of “demonstrated interest.” So what can you do? Visit virtually. And don’t limit these visits to large umbrella websites with ads. Take advantage of online resources but also be aware of places to show interest: get on mailing lists, “Like” Facebook pages and comment sometimes, attend college fairs and regional or school-based events, or follow admissions blogs. Be a wise consumer and understand that colleges tightly control their images.
- Nancy Griesemer— Founder – College Explorations LLC

Don’t miss answers by the Dean of Admissions at University of Pennsylvania, Wesleyan University, and more – at www.unigo.com/expertnetwork. To send your question to our experts, visit www.unigo.com/expertquestions