What parents need to know about college admissions, financial aid, scholarships. What colleges and universities look for helps students prepare appropriately so they Get Noticed, Get Admitted and Get Funded for their college education without student loans.
1. It’s Never Too Early to
Prepare for College
Tameka Williamson
College Consultant
Amazon Best-Selling Author
My Own College Coach
www.myowncollegecoach.com
www.tamekawilliamson.com
3. College Planning 101
Today’s Parent……
• Wait until their child is a HS
Junior/Senior to discuss college
• Have zero or less than 5% of their income
in savings
• Has more consumer debt than ever
• Can’t afford one semester/yr of tuition
• Thought they still had time to prepare
• May have to sacrifice their home or
retirement to pay for college
4. College Planning 101
Inflation-Adjusted Published Tuition and Fees Relative to 1983-84,
1983-84 to 2013-14 (1983-84 = 100)
SOURCE: The College Board, Trends in College Pricing 2013, Figure 5
.
5. College Planning 101
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Average Public University Costs: ~ $20K
Average Private University Costs: ~ $40K
Average Elite Private University Costs: ~ $55K
5 years can cost $100K - $280K (x’s # of kids)
COA: Tuition, books, room and board, living
expenses, etc.
• Cost increase 7-8% annually
7. Why College
• 66% of the 21st Century Jobs will
require some type of education
beyond H.S.
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Types of Colleges/Universities
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Private/Public
For Profit/Non-Profit
Level of schools:
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4 Year College/University
Community College
Trade/Technical School
Online Schools
9. How to Get There….
1. Graduate from H.S. or get GED
2. Pass ACT/SAT
3. Get Admitted to a
College/University
4. Complete FAFSA
5. Pay for College/University
6. Graduate from College
10. How To Get There
1.
2.
3.
4.
Start early
Plan & Prepare for it
Develop a team
Hire a professional college
consultant
5. Network
6. Right positioning
13. What Colleges Look For
College Acceptance Rates
In 2013, college acceptance rates dropped as low as 5.69% for the first time ever. Some of the most selective schools were Harvard University
(5.79%) in Cambridge, MA, Stanford University (5.69%) in Palo Alto, CA, Yale University (6.72%) in New Haven, CT, and Columbia University
(6.89%) in New York, NY.
University of Georgia: 53%
Georgia Institute of Technology: 39.37% overall; 53% early; 18% regular decision
Vanderbilt University: 11.97% overall; 21.6% early decision; 10.84% regular decision
School
Amherst College
Babson College
Boston College
Brown University
Columbia University
Cooper Union
Cornell University
Dartmouth College
Duke University
2013
13.67%
28.18%
32%
9.2%
6.89%
7.27%
15.2%
10%
11.6%
2012
11.92%
29.0%
28.82%
9.60%
7.42%
6.33%
16.19%
9.43%
11.87%
2011
12.76%
33.19%
27.88%
8.70%
6.93%
7.22%
17.95%
9.73%
12.59%
15. How to Pay for College
Types of Aid
• FREE Money
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Scholarships – merit and need
Grants
Work Study
Endowment Funds
Savings/Investments
Loans
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Student Loans
Parent Loans
Private Loans
House Line of Equity
16. How to Pay for College
Financial Aid Myths and Realities
• Make too much money - Myth
• My child is not Valedictorian - Myth
• We own a home - Both
• Aid is only for a special group - Myth
• It’s an easy process – Your Choice
• School officials can help - Partially
17. How to Pay for College
Undergraduate Student Aid by Source and Type (in Billions), 2012-13
SOURCE: The College Board, Trends in Student Aid 2013, Figure 2A.
18. How to Pay for College
Graduate Student Aid by Source and Type (in Billions), 2012-13
SOURCE: The College Board, Trends in Student Aid 2013, Figure 2B.
19. How to Pay for College
Percentage of Undergraduate Students Borrowing Federal Subsidized
and Unsubsidized Loans, 2002-03, 2007-08, and 2012-13
SOURCE: The College Board, Trends in Student Aid 2013, Figure 9A