STUDENT-CENTERED SOLUTIONS FOR COLLEGE PLANNING

It’s time to fill out applications and a big concern for many families this fall is, “Should we check ‘yes’ or ‘no’ to the question about financial aid on the admission application?”

While it’s understandable that students would want to avail themselves of as much financial assistance as possible, uncertainty over whether the family’s ability to pay will have an impact on the admission decision has folks on edge. There are three issues worth noting in addressing the concern.

One, the “ability to pay” is increasingly a factor in the admission process, especially for students on the competitive margin. There was a lot of discussion at the end of the admission process last spring about “full-pay” students with modest credentials getting the nod over students with somewhat stronger credentials but demonstrated financial need. With that in mind, you need to go into the admission process with your eyes wide open and make sure you are focusing on schools that value you-they’ll admit you and give you what you need.

The second matter is more practical. It has to do with how colleges use the information they glean about your financial need from the admission application. Checking “no” that you don’t need financial assistance means that a hurdle goes down—the question of your financial need has been answered. If you check “yes,”colleges still don’t have enough information to be able to discriminate in the admission process. You see, approximately one-third of the students who indicate that they will be applying for financial aid either never apply—they know they don’t need it, or they do apply and demonstrate that they don’t need it!

Colleges that discriminate based on “ability to pay” in the admission process will wait until they have seen the academic credentials and the financial aid data for most if not all of the potentially admitted students before making their final decisions.

Checking “yes” does, however, allow the admission officers to be on the alert for your financial aid application materials. That can be important if you encounter delays or problems with the processing of the latter.

Finally, you need to know that the financial aid question on the admission application is intended to reflect your intent to apply for need-based assistance from the institution itself. Period. Your eligibility for merit scholarships awarded by the college does not require you to check “yes” unless you are specifically instructed to do so on the application.

The bottom line, then, is that you should check “yes” if you know you want to be considered for need-based financial aid. That checkmark should not compromise your application for admission.

With the first round of Early Decision deadlines looming, there is a lot of talk among students about finding an “ED school.” Getting into a “reach school” any “reach school” has become the priority and the assumption is that the best chance of getting in is to apply ED.

By the numbers, this assessment is on the mark. ED does provide a statistical advantage for applicants at most schools. However, the rush to ED often means that good judgment is set aside in favor of the potential to score a big prize. You might get in but, after the euphoria wears off, the chances are good you’ll have second thoughts about the commitment you just made.

This came home to me when, as my son was preparing to apply to schools, the Early Decision question was raised in a slightly different context. It was clear that one school had emerged as his first choice. While his credentials for that school were good, they were not great. His best chance of getting in would be as an Early Decision candidate. When I asked whether he was considering an ED application to that school, his response surprised me.

“While I really like that school in November, I can’t be sure I’ll feel the same way about it in April,” he said. He chose not to apply ED.

While he didn’t get into that school, I was proud of the wisdom he displayed in making the decision. Had he said “yes” to ED, there is a very good chance he would have been admitted to the school that had been his first choice at the time. Today, however, he is certain he ended up at the school that was the best fit for him.

My advice: don’t game the ED option. Don’t put yourself in the position of seeing momentary elation give way to regret over a misplaced commitment.

The application process isn’t about winning a “prize.” Instead, focus on establishing a short list of schools that are good fits. Think about it. The best schools for you are those that value you for your accomplishments and for your potential to achieve in college. If one of them emerges as a strong, unequivocal first choice, then-and only then-consider applying ED.

Important Note: If you know that you will require need-based financial aid in order to enroll at a college, DO NOT apply ED without getting an early estimate of your expected financial aid and an example of the need-based financial aid you would receive if admitted from the college itself. If the college cannot or will not offer such information, then you should not apply ED.

October is a time of reckoning for students as they prepare college applications. The senior year of high school is in full swing with new academic challenges and a sense of nostalgia as students wistfully embrace events and relationships for the “last time” in their high school experience. And, for many, the college application represents another layer of activity on top of an already busy schedule.

The excitement and allure of going to college begins to wane as the process of applying becomes an onerous imposition. With pending deadlines and mounting requirements, there simply isn’t enough time in the day to get it all done! As a result, there is a tendency to choose the course of least resistance-to do what is “good enough.”

I would like to offer a word to the wise if you find yourself in this situation. Stay focused. Now is the time to do your best work even though doing so may mean making compromises in your social life. You can’t “will” great grades. Essays don’t become excellent overnight. College applications don’t materialize out of thin air.

Keep in mind the competition for admission. Popular forecasts to the contrary, the competition will continue to increase as a higher proportion of the college age population applies to college this year-and next, and the year after that. As a result, colleges will continue to be inundated by applications from more qualified candidates than they can admit. And the more selective institutions will be forced to make fine distinctions between deserving candidates.

In particular, they will watch to see how you handle the pressure. Will you wilt under the weight of the added expectations? Will you find the easiest path to the finish line? Or will you step up to the challenge?

Colleges that can be picky are watching. They want to see what you do when you don’t think you have to do anything. They want to see how you approach your classroom assignments. When a “B” seems good enough, will you continue to push for the “A?”

And they will be able to gauge your investment in your application immediately. Have you been thoughtful about conveying key messages? How have you told your story? What does your essay say about you? I can tell you from experience that applications and, in particular, essays that are pulled together at the last minute have that “good enough” look about them.

During our most recent Web-Side Chat webcast on October 3, we had some interesting discussions about the implications of doing what is “good enough” in preparing college applications. The sequel to that webcast, “The Biggest Mistakes Made in Applying to College,” will take place on Tuesday, October 13 at 7:00 PM ET. In order to participate click here to sign-up. In addition to gaining access to the upcoming Web-Side Chat webcast, you will also be able to view past webcasts in the BCF archives.

As a high school senior and an applicant to college, you are still in a position to control the manner in which your application is presented. Do your best, then, to resist the temptation to put things off or go into cruise control. Now is the time to accelerate! You must make that commitment, though. As one young woman observed after hearing this message at a recent program, “If nothing else, I have learned that good enough is never enough if I want to reach my goals.”