Lesson 2: Selecting a College
While most of this guide is based on sending your child “away” to school, the general concepts remain the same for commuter schools and community, or 2 year colleges, or technical programs. College is still a new and often mind-boggling experience for the entire family.
Reality Check: Finances & Entrance Requirements
Family Finances
Time for a realistic family evaluation. If the school your child is aspiring to costs $50,000 a year and the family income is less than that for a family of 4, it is probably not going to happen. Although most schools give some type of financial aid to most students, it is rare to get a full scholarship to any school. There are exceptions: outstanding athletes, the class valedictorian. In general, your family will have to contribute substantially to the cost of a college education. It may be via loans, for both the parents and student, but you will undertake partial financing of your child’s higher education.
Tuition and room and board are just part of the costs of a college education. There are books, lab fees, and travel to and from home, supplies, recreation and so on. These undeclared expenses can add anywhere from $500 to several thousand dollars to your annual cost. Don’t let the cost dissuade your child from applying if the school is a good fit in every other way. The worst that can happen is your child turns down the acceptance if there is not enough financial aid.
Most schools offer some type of financial aid. Don’t be daunted by the price tag attached to a specific school. Many of the more expensive schools have greater financial aid resources than the smaller schools. If the annual fees for a particular school come to about $30,000 and they offer 60% of the incoming freshman $10,000 that might actually work out better than a school with an annual cost of $22,000 and a general offer of $1,000 to 80% of the new students. There are many options besides the aid offered by each college alone. Some grants/scholarships are NOT based on need, but rather on academic ability, athletic prowess, nationality, religion, and so on. If you are diligent in your search and your child is committed to the process, you can provide a substantial amount of the costs with some hard work.
Entrance Requirements
This is one of the most important aspects. It’s great if you like the location, cost and distance, but those factors won’t help if your child won’t be offered a spot. When looking at each school, pay close attention to the grade point average, class ranking and (if applicable) SAT scores. There is usually some leeway on what is posted. If the school expects your child to be in the top 15% and s/he is ranked in the 30th percentile, you are probably wasting money on an application. Conversely, if the average SAT scores are 1100 and your child received a score of 1000, admission may be possible.
Other nebulous considerations may sway the school’s decision. Some schools favor in-state students; others look for geographic and/or ethnic and/or cultural diversity. Some want a balance of males/females. Others want financially solvent students as well as those who are underprivileged and need substantial financial aid. The bottom line is: be realistic. If your child is close to meeting the requirements listed, it doesn’t hurt to apply. Make sure you research thoroughly, however. If the school requires 4 years of math and 4 years of science and your child has 1 year of math only, s/he may get accepted, but will probably be required to take remedial courses, which you will pay for and may or may not count towards the number of credits required for a degree or certification.
