STUDENT-CENTERED SOLUTIONS FOR COLLEGE PLANNING

With the May 1 Candidates’ Reply Date looming, the final choice of a college remains elusive for many high school seniors. For some, choosing a college involves reconciling practical matters such as cost and distance. Others, however, will go “down to the wire” trying to figure out which of their available options is the “best.”

If you are familiar with my student-centered orientation to college planning, you know what is coming next. The definition of “best” should reflect less the name, reputation and ranking of an institution and more the qualities of an educational experience that fit you best.

The story of the “coffee or the cup” can be instructive in this regard. As with so many parables, the author of this one is unknown—at least to me. And, while its message may speak to each us, I am struck by its relevance to young people as they contemplate their educational futures. You may have come across this story before but I hope you will read it again within the context of the choice of a college.

“A group of alumni, highly established in their careers, got together to visit their old university professor. Conversation soon turned into complaints about stress in work and life. Offering his guests coffee, the professor went to the kitchen and returned with a large pot of coffee and an assortment of cups—porcelain, plastic, glass, crystal, some plain looking, some expensive, some exquisite—telling them to help themselves to the coffee.

What all of you really wanted was coffee, not the cup, but you consciously went for the best cups… And then you began eyeing each other’s cups. Now consider this: ‘Life’ is the coffee. The jobs, money and position in society are the cups. They are just tools to hold and contain ‘Life,’ and the type of cup we have does not define, nor change the quality of life we live. Sometimes, by concentrating only on the cup, we fail to enjoy the coffee. The happiest people don’t have the best of everything. They just make the best of everything.”

Wherever you are in your journey toward college, be sure to keep the “coffee” in mind as you think about what is best for you. After all, you are consuming the experience, not the place. If you become too focused on the “cup” you will lose sight of the factors that define the quality of your life. Be true to yourself. As you work on your own “brew,” focus on your priorities—the factors that have guided you through your college search—and concentrate on identifying the best fit. Choose well and make the best of your experience. Enjoy the coffee!

For families of students recently admitted to college, the coming weeks are critical to the final choice of a college. With a May 1 enrollment deadline looming, important decisions must be made. After months, if not years, of researching options and “shopping” for the best “fit,” it is time to determine which opportunity represents the best investment. It is also a time when the cost of attending comes more sharply into focus. You might consider the following as you engage in a cost/benefit analysis of your college options.

1. Why are you going to college? The answer may seem like a forgone conclusion at this point but articulating it again can add clarity at a time when other factors may be clouding your vision. What do you expect to get out of your college experience? Specifically, what are the three things you want to accomplish by the time you graduate from college four years from now? Use these priorities to guide you further in choosing among the colleges that accepted you. Which of them provides the best opportunity to achieve your goals?

2. Take a look at the cost/value proposition. Start by looking at the price tags. What is the comprehensive cost of attendance at each school? If you expect to be a full-time, residential student, this number will include room, board, and related fees—on top of tuition. Be sure to calculate the total for the year if that hasn’t already been done for you.

The total cost, less any scholarship or grant money you have been awarded, represents the adjusted cost that you will need to meet from your own resources (savings, loans, work study). Is the cost of attending a given institution justified by the value that is attached to achieving your educational goals? The question to ask is: “Will my experience as a student and the likely outcomes (earning potential) merit this level of financial exposure to my family?”

I recently heard from a family inquiring about the relative benefits of attending two colleges where the differential in the projected debt burden was $60,000 ($100,000 versus $40,000) over four years. My response: “Is the value of the projected education that much different to warrant the added debt?”

Please note that student debt is a choice you make—it’s not an obligation. I agree with the premise that reasonable student borrowing ($25,000-$30,000 over four years) is a healthy way of promoting accountability and responsibility on the part of the young person.

3. Be discriminating in your evaluation of financial aid award letters. Some colleges may present seemingly generous “packages” that are much less robust when you subtract the amount of self-help (loans, work study) you will need to assume. It is important that you compare the actual EFC (Expected Family Contribution) for each institution.

Ideally, each college would arrive at the same EFC and respond to you with the same financial aid. That is not likely to be the case, though, because schools work with different formulas for need analysis and pricing scenarios. For example, you may receive substantial assistance at a high-priced private college but not be eligible for much assistance at a lower priced state-supported university. Or two private institutions that appear similar might provide financial aid awards that are very different in terms of the amount your family is expected to contribute as well as the composition (scholarship, loan) of the awards themselves. Remember, each institution will direct its resources toward the students it values most.

4. If you are confused by the contents of your financial aid letter or you see dramatic discrepancies between awards received from different schools, now is the time to seek clarification. While financial aid officers are not inclined to negotiate financial aid awards, they are usually willing to hear appeals based on new information. A few will even offer to match the offer of a competitor. There are no guarantees associated with the appeal process, but you have nothing to lose by asking.

Note to Parents: Most successful appeals are driven by data, not emotions. If you initiate an appeal, remember that you are seeking clarity and fair treatment. You cannot, however, expect or even insist that your student is entitled to anything more or less.

5. Look at each college option within the context of what you are getting in exchange for your investment of time and money. Be careful not to confuse the prestige or ranking of an institution with the strength of the academic opportunity you are seeking. Your success in life beyond college will hinge much more on how you take advantage of your undergraduate experience than on the name of the institution you choose to attend.

Again, stick to your priorities. If you have been diligent about searching out a learning environment that fits you well—a program that meets your needs, style of instruction that is consistent with the way you like to learn and a degree of rigor that is commensurate with your ability and preparation—you will find the best educational investment values for you.

Additional tips for assessing value among your college options:

• If you have been offered a merit scholarship, make sure you are clear about the criteria for renewing it after your first year.
• Find out how each institution will apply the credit associated with any community-based scholarships you might receive to your cost of attendance. Some colleges will reduce the amount of scholarship they are offering; others will reduce the amount of self-help (loan, work-study) in your financial aid award.
• Ask for a review of your potential college credits (AP, IB, courses taken on college campuses) as collectively they have the potential to reduce graduation requirements and, as a result, your out-of-pocket expenses.
• Determine the likelihood that you will be able to complete your degree requirements in four years. Ask to see data on graduation rates and post-graduate placements.

Early April can be the best of times—and the worst of times—if you are a college applicant. Those who are fortunate to have received good news from colleges are understandably elated. For them, the process of making the final choice begins now.

Earlier this week, I received an email from the mother of a young woman whom I had met earlier in the year. Her daughter, Ali, had done well (admitted to six of seven schools and placed on one Wait List) with her applications and her mom was understandably excited. Now, she wanted to know how to help Ali sort through her options.

Ali had already ruled out one college and, upon visiting two others, had decided against them as well. She is keen on two schools, one mid-sized and the other small, and is dallying with the idea of an honors program at a state university. In her heart (according to her mom), though, it seems she really wants a smaller school. Ali is planning to visit the small school even though it is the only one that has yet to offer her financial aid. Her mother also wants to know how to approach the Wait List situation. I offered the following feedback to Ali’s mom and pass it along here in the event you are grappling with similar issues.

1. Ali needs to revisit her educational priorities. At this point in the process, it’s easy to become distracted by the commotion surrounding “who’s getting in and where.” She needs to focus on three basic questions: “Why do I want to go to college?” “In what type of academic environment do I function most comfortably?” “What are the three things I want to make sure I accomplish by the time I graduate?” If she is true to herself, the answers to these questions will guide her to a final choice with which she will be most comfortable.

2. Visiting the campuses of her top choices is a must as Ali is preparing to “buy.” She should spend twenty-four hours (not on a weekend!) on each campus of interest and immerse herself in the “neighborhoods” of the campus in which she is likely to spend much of her time once enrolled. She needs to talk with students and professors (outside of the panel discussions at open house programs that are scripted for her benefit) about their experiences. In which environment can she see herself functioning most comfortably?

3. She needs to figure out where the Wait List school fits in the picture. If it is a clear first choice, then she should remain active on the Wait List. Wait Lists are likely to move this year so Ali needs to provide new information (scores, grades, awards) and demonstrate her commitment to enroll if accepted. A campus visit can be an important expression of that interest. I do not, however, recommend remaining active just to see if she can get in—this is not a time for “fishing expeditions.” Her actions should be purposeful and reflect conviction.

4. Finally, Ali needs to make sure she clearly understands the financial aid awards she receives. Award letters, at their best, can be very confusing. At this stage of the game, it is vital that she compares “apples with apples.” Moreover, her parents need to be frank with her about the impact of cost/financial aid from their vantage point. While they might have personal preferences, are there any deal-breakers financially? It’s better for her to know of any such limitations as soon as possible.

The next month promises to be highly energized as college-bound students zero in on their final college choices. Getting it “right” is critical as the Best College Fit™ (BCF) program continues to cover the admission process through the final decision-making process. The March 24 BCF Web-Side Chat webcast, “Strategies for Evaluating Enrollment Options,” featured a discussion that covered the above topics and much more including tips for navigating the Wait List. A recording of that webcast is available in the BCF archives.

On April 7, the Web-Side Chat webcast, “Evaluating Financial Aid Options,” will compare actual financial aid awards and provide advice with regard to next steps in making the final choice of a college. In addition, the “College Talk” email forum provides on-going conversational opportunity throughout the month. To join the conversation, you must first subscribe to Best College Fit™ . The 30-day subscription rate is $19.95.