1




College Prep Kit
          Published by:

          Pam Zielinski

     Financially Speaking, LLC
     REVISED NOVEM...
2




SENDING YOUR CHILD OFF TO COLLEGE IS LIKE
SENDING HIM OFF TO HIS FIRST DAY OF SCHOOL!

 BY PREPARING HIM/HER AHEAD O...
3

    RECOMMENDED EARLY READING FOR INFANTS AND
                   TODDLERS

WELCOME LITTLE BABY
AUTHOR: ALIKI
DESCRIPTIO...
4




  RECOMMENDED BOOKS AS YOUR CHILD GROWS

BARK GEORGE
AUTHOR: J. FEIFFER
AGES 2-7
DESC: A dog says meow instead of ba...
5


                        RECOMMENDED READING
                        CONTINUED……


AMBER BROWN IN NOT A CRAYON
AUTHOR: ...
6


         SAVING FOR SECONDARY EDUCATION

TYPES OF COLLEGE SAVINGS PLANS:

UTMA ACCOUNTS: UNIFORM TRANSFER TO MINORS AC...
7

Plan Basics
EdVest is an innovative qualified tuition program that helps families across the country invest for one of ...
8




                     TYPES OF FINANCIAL AID

ELIGIBILITY IN WISCONSIN:
TO BE ELIGIBLE FOR STATE FINANCIAL AID IN
WIS...
9


                             GRANTS

    GRANTS ARE “GIFT” AID AND THEY DO NOT HAVE TO BE
    REPAID. ELIGIBILITY FOR ...
10


             SCHOLARSHIPS
SCHOLARSHIPS ARE ALSO “GIFT” AID AND DO NOT
 HAVE TO BE REPAID. UNLIKE GRANTS, THEY ARE
USU...
11


               STUDENT LOANS

SOMETIMES, EVEN WITH COMMITTED SAVING FOR
OUR CHILDREN’S EDUCATION, THERE MAY BE A
NEED...
12




         GOVERNMENT SPONSORED STUDENT LOANS

LOANS FOR THE UNDERGRADUATE

STAFFORD LOAN: These loans are backed by ...
13


  PRIVATE LOANS FOR THE UNDERGRADUATE AND
                  GRADUATE

Some of the larger financial institutions, offe...
14




HOW DO WE START PLANNING FOR OUR
  CHILD’S SECONDARY EDUCATION?
15


     SOME REFERENCE MATERIALS TO GET YOU
                  STARTED

NO CHILD LEFT BEHIND REFERENCE:
www.nochildleftbe...
16


                 COLLEGE PLANNING CHECKLIST
DURING JUNIOR YEAR                                 WWW.OFFTOCOLLEGE.COM/P...
17




COLLEGE SEARCH-UNDERSTANDING TYPES OF SCHOOLS

COLLEGES: Generally smaller in size. They offer 4 year
degree progra...
18

HOW SHOULD I BEGIN MY COLLEGE SEARCH?

There are 3 categories of schools you should list:

   2-3 SCHOOLS THAT YOU CO...
19

               COLLEGE APPLICATION CHECKLIST
                  Record College Admission Tasks

LIST 3 SCHOOLS YOU CAN ...
20


    COLLEGE ENTRANCE REQUIREMENTS
              WORKSHEET

School   MIN.   MIN. MIN. OTHER FILING   #OF     #OF    SP...
21


                              FAST FACTS
1. What are the trends in the cost of college education?
For the 2007-08 aca...
22


                    FAST FACTS, CONTINUED

6. Which colleges have the highest enrollment?
The University of Wisconsin...
23


         SOME HELPFUL WEBSITES FOR YOU
www.offtocollege.com

www.saystudent.com

www.financiallyspeaking.vpweb.com

w...
24



     BEST WISHES FOR YOUR FUTURE!




THIS PAMPHLET WAS PUBLISHED BY
PAM ZIELINSKI
FINANCIALLY SPEAKING, LLC
(NOT FO...
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College Prep Kit

  1. 1. 1 College Prep Kit Published by: Pam Zielinski Financially Speaking, LLC REVISED NOVEMBER 2009
  2. 2. 2 SENDING YOUR CHILD OFF TO COLLEGE IS LIKE SENDING HIM OFF TO HIS FIRST DAY OF SCHOOL! BY PREPARING HIM/HER AHEAD OF TIME IS VERY IMPORTANT SO THAT THEIR COLLEGE YEARS ARE BOTH REWARDING AND ENJOYABLE FOR THE ENTIRE FAMILY. LEARNING BEGINS AT A YOUNG AGE TO PREPARE YOUR CHILD FOR THEIR COLLEGE YEARS. SEE SOME INFORMATIONAL BOOKS ON THE FOLLOWING PAGE THAT WILL START PREPARING YOUR CHILD FOR THEIR EDUCATION.
  3. 3. 3 RECOMMENDED EARLY READING FOR INFANTS AND TODDLERS WELCOME LITTLE BABY AUTHOR: ALIKI DESCRIPTION: The first few days of a baby’s life BABY TALK AUTHOR: PENNY GENTIEU DESC: Large, adorable photos of expressive baby faces and body languages to which babies will immediately respond. WELCOMING BABIES AUTHOR: MARGY KNIGHT DESC: Families around the world welcome babies into their new lives. I KISSED THE BABY! AUTHOR: MARY MURPHY DESC: All the animals make a fuss over the brand new duckling. GOODNIGHT MOON AUTHOR: MARGARET WISE BROWN DESC: Perfect book for bedtime as a little bunny says goodnight to everything in his room. JAMBERRY AUTHOR: BRUCE DEGEN DESC: A boy and a bear romp through a yummy, rhyming world of berries. PEEK A BOO MORNING AUTHOR: RACHEL ISADORA DESC: A toddler has a good time playing peek a boo. I WENT WALKING AUTHOR: SUE WILLIAMS DESC: A young boy goes for a walk and keeps your guessing about everything he sees.
  4. 4. 4 RECOMMENDED BOOKS AS YOUR CHILD GROWS BARK GEORGE AUTHOR: J. FEIFFER AGES 2-7 DESC: A dog says meow instead of barking GEORGE AND MARTHA AUTHOR: J. MARSHALL AGES 4-8 DESC: 5 stories about George and Martha, 2 hippos, who are the best of friends MADELINE AUTHOR: L. BEMELMANS AGES 4-7 DESC: 1 of 12 girls who live with Miss Clavell, a loving, caring woman. MRS. PIGGLE-WIGGLE AUTHOR: BETTY MACDONALD AGES 4-10 DESC: Mrs. Piggle-Wiggle lives in an upside down house and smells like cookies.
  5. 5. 5 RECOMMENDED READING CONTINUED…… AMBER BROWN IN NOT A CRAYON AUTHOR: DANZIGER/ROSS AGES 7-9 BUFFALO BILL AND THE PONY EXPRESS AUTHOR: COERR/BOLOGNESE AGES 7-10 ENCYCLOPEDIA BROWN-BOY DETECTIVE AUTHO: DONALD SOBOL AGES 8-11 BABE THE GALLANT PIG AUTHOR: D. KING-SMITH AGES 9-12 FRINDLE AUTHOR: A. CLEMENTS AGES 9-12 A LONG WAY FROM CHICAGO AUTHOR: R. PECK AGES 9-12 A SINGLE SHARD AUTHOR: L. PARK AGES 10-14 THE OUTSIDERS AUTHOR: S. HINTON AGES 12 + AMONG THE HIDDEN AUTHOR: M.HADDIX AGES 10-14 THE HOUSE OF THE SCORPION (AGES 13-16) AUTHOR: N. FARMER
  6. 6. 6 SAVING FOR SECONDARY EDUCATION TYPES OF COLLEGE SAVINGS PLANS: UTMA ACCOUNTS: UNIFORM TRANSFER TO MINORS ACT ACCOUNTS UTMAS CAN BE SET UP WITH FINANCIAL INSTITUTIONS AND BROKERAGE FIRMS. YOU CAN BEGIN SAVING WHEN YOUR CHILD IS BORN AND HAS A SO- CIAL SECURITY NUMBER. A PARENT OR GUARDIAN IS LISTED AS THE CUS- TODIAN ON THE ACCOUNT UNTIL THE CHILD REACHES THE AGE OF MA- JORITY (18 IN WISCONSIN) ONCE THE CHILD TURNS 18, THE MONEY IS THEIRS TO USE AS THEY WISH. EVEN IF YOU ARE STILL LISTED AS A CUSTODIAN, THE CHILD CAN WITHDRAW ANY AMOUNT THEY WISH WITH PROOF OF IDENTIFICATION, ONCE THEY TURN 18. REGULAR SAVINGS OR MONEY MARKET ACCOUNTS: THESE ACCOUNTS ARE ALSO SET UP WITH A FINANCIAL INSTITUTION OR BROKERAGE FIRM. YOU CAN PUT RESTRICTIONS ON THESE SOMETIMES SO THAT A WITHDRAWAL FROM THE ACCOUNT REQUIRES A PARENT’S SIGNATURE OR 2 SIGNATURES FOR APPROVAL OF THE WITHDRAWAL. EVEN IF THE CHILD TURNS AGE 18 AND YOU ARE STILL LISTED AS THE APPROVER, THE FINANCIAL INSTITUTION MUST ABIDE BY THE WITHDRAWAL REQUIREMENT THAT WAS SET UP FOR THE ACCOUNT. EDVEST (WISCONSIN’S 529 PLAN): SEE THE FOLLOWING PAGE REGARDING EDVEST
  7. 7. 7 Plan Basics EdVest is an innovative qualified tuition program that helps families across the country invest for one of their most im- portant financial goals – their children's education. EdVest is administered by the Wisconsin Office of the State Treasurer and is managed by Wells Fargo Funds Management, LLC. With EdVest, you can open an account on behalf of a designated beneficiary. Your contributions are placed in a trust fund established by the State of Wisconsin and are directed into special investment portfolios designed and managed specifically for the program. Earnings in your account will grow federal and state tax-free in Wisconsin, as well as po- tentially tax-free in other states, until the time your beneficiary is ready to go to college. The funds are then available to be used to pay for qualified higher education expenses at any eligible school – including two and four-year colleges, technical, vocational, and graduate schools. EdVest was designed with families like yours in mind. The features of the EdVest college savings program make it easy to invest now and use later. Tax Benefits  Earnings in your EdVest account grow federal and potentially state tax-free. State income taxes may still apply for non-Wisconsin residents.  Qualified withdrawals from a 529 plan are federal and potentially state tax-free.  Wisconsin residents owe no state income tax on qualified withdrawals.  Contributions of up to $3,000 per dependent, grandchild, great-grandchild, niece, or nephew, per tax year are deductible from Wisconsin taxable income.  Contributions up to $65,000 may be excluded from federal gift tax pro rata over a five-year period.1  Completed gifts are considered removed from your estate for tax purposes, while as the account owner, you still retain control of the account. Flexible Contribution Options  Start building your account with an automatic investment plan or payroll direct deposit of just $15 a month.  A low initial contribution of only $250 is required to open an account, and it's waived with an automatic investment plan.  Contribute up to $330,000 for a single beneficiary.  Convenient methods of contributing – check, electronic funds transfer, Federal Wire, automatic invest- ment, and payroll deduction. Professional Money Management  The Wisconsin College Savings Program Board and the Wisconsin State Treasurer oversee the program. Wells Fargo Funds Management provides administration for the program.  Investment options include underlying investments managed by Wells Fargo Funds Management, LLC, Legg Mason Capital Management, Inc., Robert W. Baird & Co. Incorporated, and The Vanguard Group. Few Restrictions  Use the money at thousands of eligible schools in the U.S. (and even some abroad) – including graduate school.  Use the money in your account for a wide range of educational expenses including tuition, fees, books, even room and board expenses. A program of regular investment cannot assure a profit or protect against a loss in a declining market. 1 If a donor contributes more than $13,000 in one year, and elects to apply the gift tax exclusion ratably over five years, but dies before the close of the five-year period, the portion allocable to calendar years beginning after the date of death is included in the decedent’s estate.
  8. 8. 8 TYPES OF FINANCIAL AID ELIGIBILITY IN WISCONSIN: TO BE ELIGIBLE FOR STATE FINANCIAL AID IN WISCONSIN, A STUDENT MUST:  Be a resident of the state of Wisconsin  Have a high school diploma, GED, or equivalent  Be enrolled in an undergraduate degree or certificate program  Be attending a non-profit college or university based in Wisconsin The free application for Federal Student Aid (FAFSA) form must be filled out and submitted online at http://wwww.fafsa.ed.gov Paper copies are available at the college and university financial aid offices and at the high school guidance offices. YOU ARE NOT ALLOWED TO RECEIVE FINANCIAL AID IF…..  YOU ARE REQUIRED TO REGISTER WITH THE SELECTIVE SERVICES AND YOU ARE NOT REGISTERED.  YOU ARE LISTED ON THE STATE WORKPLACE DEVELOPMENT’S LIST OF CHILD SUPPORT LIEN DOCKET, UNLESS YOU HAVE AN APPROVED PAYMENT PLAN. (STUDENTS ON THE LIEN DOCKET MAY STILL RECEIVE AES AND STATE LOANS)
  9. 9. 9 GRANTS GRANTS ARE “GIFT” AID AND THEY DO NOT HAVE TO BE REPAID. ELIGIBILITY FOR GRANTS IS PRIMARILY BASED ON FINANCIAL AID AND EACH GRANT PROGRAM HAS SPECIFIC ELIGIBILITY REQUIREMENTS. SOME WISCONSIN GRANTS AVAILABLE ARE: WISCONSIN HIGHER EDUCATION GRANT-CAN RECEIVE NOT LESS THAN $250 AND NOT MORE THAN $3000 WISCONSIN TUITION GRANT-CANNOT RECEIVE LESS THAN $250.00. TALENT INCENTIVE PROGRAM GRANT- (TIP) $600-1800 FOR INITIAL GRANT AND $250 MINIMUM CONTINUING GRANT INDIAN STUDENT ASSISTANCE GRANT-MUST BE AT LEAST 25% NATIVE AMERICAN TO RECEIVE THIS GRANT. AWARDS ARE $250-$2500.00. MINORITY UNDERGRADUATE ASSISTANCE GRANT-AWARDS OF $250-$2500.00 HEARING AND VISUALLY HANDICAPPED STUDENT GRANT- AWARDS ARE $2500-$1800.00.  SEE MORE ABOUT THESE GRANTS AT www.http://heab.state.wi.us/programs.html
  10. 10. 10 SCHOLARSHIPS SCHOLARSHIPS ARE ALSO “GIFT” AID AND DO NOT HAVE TO BE REPAID. UNLIKE GRANTS, THEY ARE USUALLY BASED ON MERIT OR ACHIEVEMENT AND NOT FINANCIAL NEED. TOO MANY SCHOLRSHIPS GO UN-APPLIED FOR, SO WATCH FOR ALL OPPORTUNITIES THE WISCONSIN ACADEMIC EXCELLENCE SCHOLARSHIP IS AWARDED TO THE HIGH SCHOOL SENIORS IN EACH PUBLIC AND PRIVATE HIGH SCHOOL WITH THE HIGHEST GPA. AWARD IS UP TO $2250.00 FOR FULL TIME TUITION. THERE ARE MANY MORE SCHOLARSHIP OPPORTUNITES AVAILABLE THROUGH THE UNIVERSITY FINANCIAL AID OFFICES AND HIGH SCHOOL GUIDANCE OFFICES. CHECK OUT ALL OPPORTUNTIES. THIS IS FREE MONEY! IF YOUR CHILD HAS AN ABOVE AVERAGE GPA, MAKE SURE THEY ARE APPLYING FOR SCHOLARSHIPS, AS THIS CAN GREATLY REDUCE THE AMOUNT YOU PAY OR YOU OR YOUR CHILD BORROWS ON STUDENT LOANS. SOME SCHOLARSHIPS ARE RENEWABLE FOR FOLLOWING YEARS ALSO.
  11. 11. 11 STUDENT LOANS SOMETIMES, EVEN WITH COMMITTED SAVING FOR OUR CHILDREN’S EDUCATION, THERE MAY BE A NEED FOR STUDENT LOANS. MOST STUDENT LOANS ARE AT AN ATTRACTIVE RATE, THOUGH, USUALLY A VARIABLE RATE THAT CAN CHANGE AT LEAST ANNUALLY. THERE ARE SEVERAL GOVERNMENT STUDENT LOANS, HOWEVER, IT IS HARDER THESE DAYS TO QUALIFY FOR THESE LOANS IF THE PARENTS/CHILD ARE MAKING GOOD INCOMES AND THERE ARE ABOVE AVERAGE SAVINGS AND CHECKING ACCOUNT BALANCES. HOWEVER, FINANCIAL INSTITUTIONS SOMETIMES HAVE THEIR OWN “PRIVATE” OR COLLEGIATE LOAN PROGRAMS THAT STUDENTS CAN QUALIFY FOR, IF THEY DO NOT QUALIFY FOR THE STANDARD STAFFORD OR PLUS LOANS THROUGH THE GOVERNMENT. TYPICALLY, MOST STUDENT LOANS WILL HAVE A DEFERMENT PERIOD FOR PAYMENTS WHILE THE STUDENT IS IN SCHOOL, ON AT LEAST A HALF TIME BASIS. ALSO, MOST OF THEM DO NOT REQUIRE THE STUDENT TO START REPAYMENT UNTIL 6 MONTHS AFTER COLLEGE OR SECONDARY SCHOOL GRADUATION. THERE ARE SOME EXCEPTIONS TO THESE RULES, HOWEVER. SEE NEXT SECTION.
  12. 12. 12 GOVERNMENT SPONSORED STUDENT LOANS LOANS FOR THE UNDERGRADUATE STAFFORD LOAN: These loans are backed by the US Government, but offered through private lenders, like your community bank. These are the best place to start because they have a low, fixed interest rate. You must complete the FAFSA form prior to applying. You can borrow up to $5500 your first year. You do not have to repay the loan until 6 months after you leave school or drop below 1/2 time status. The school gets the money twice/ year and will distribute any excess funds directly to you. FEDERAL PLUS LOANS: These loans are made to the parents of dependent children. Parents can apply up to the amount of total education expenses, minus any other financial aid received. Parents can defer payments while the student is in school. These loans have a fixed rate and may be tax deductible. HOME EQUITY LINES/LOANS: These loans are typically made to parents who have sufficient equity in their home. In most cases the interest is tax deductible. Talk to your banker for rates and terms.
  13. 13. 13 PRIVATE LOANS FOR THE UNDERGRADUATE AND GRADUATE Some of the larger financial institutions, offer their own Collegiate or educational loans. These are good to check into when you do not qualify for the Stafford loans. Many of them have similar rates to the government programs. Two institutions that Financially Speaking is familiar with are Wells Fargo and Chase. Both of these reputable institutions offer these types of private loan programs. Some of them have loan amounts of up to $25,000 per year for educational expenses. Please check out their websites for more information on these loan programs. www.wellsfargo.com www.chase.com COSIGNERS: YOUR STUDENT MAY NEED A COSIGNER IF THEY DO NOT HAVE ANY OR HAVE LIMITED CREDIT ESTABLISHED. BE PREPARED TO COSIGN OR IF YOU HAVE TARNISHED CREDIT, CHECK INTO ANOTHER POSSIBLE ALTERNATIVE FOR A CO-SIGNER FOR YOUR CHILD’S LOAN(S).
  14. 14. 14 HOW DO WE START PLANNING FOR OUR CHILD’S SECONDARY EDUCATION?
  15. 15. 15 SOME REFERENCE MATERIALS TO GET YOU STARTED NO CHILD LEFT BEHIND REFERENCE: www.nochildleftbegind.gov PREPARING MY CHILD FOR SCHOOL www.ed.gov/topics HOW TO SUPPORT YOUR GIFTED CHILD: Www.ed.gov/parents/need/gifted/edpicks.jhtml?src=In FIND THE PUBLIC/PRIVATE SCHOOLS IN YOUR AREA http://nces.ed.gov/ccd/schoolsearch FIND STATE CHARTER SCHOOLS www.uscharterschools.org FIND THE BEST SCHOOLS IN YOUR AREA www.schoolmatch.com THE SCHOOL REPORT www.homefair.com ABOUT HOME SCHOOLING www.home-ed-magazine.com www.home-school.com BOOKS/MATERIALS/SUPPLIES www.nBuy.com
  16. 16. 16 COLLEGE PLANNING CHECKLIST DURING JUNIOR YEAR WWW.OFFTOCOLLEGE.COM/PREP WHY GO TO COLLEGE? JR. YEAR FALL SEMESTER MAKE A PERSONAL JR. YEAR FALL SEMESTER ASSESSMENT DECIDE ON KIND OF MAJOR JR. YEAR FALL SEMESTER MEET WITH H.S. JR. YEAR FALL SEMESTER COUNSELOR REVIEW FOR ADMISSION JR. WINTER SEMESTER TESTS COLLEGE SEARCH JR. SPRING SEMESTER VISIT COLLEGE CAMPUS JR. SPRING SEMESTER COLLECT COLLEGE JUNIOR-SENIOR YEAR INFORMATION PREPARE COLLEGE SEPTEMBER-OCTOBER APPLICATIONS WRITE YOUR ESSAYS SEPTEMBER-OCTOBER GET LETTERS OF SEPTEMBER-OCTOBER RECOMMENDATIONS SUBMIT COLLEGE NOVEMBER-JANUARY APPLICATIONS UNDERSTAND COLLEGE NOVEMBER COSTS REVIEW FINANCIAL AID NOVEMBER-JANUARY OPTIONS FOLLOW THE MONEY PATH NOVEMBER-JANUARY SUBMIT FAFSA AND JANUARY PROFILE APPLY FOR FINANCIAL AID MAY-SEPTEMBER DEVELOP GOOD COLLEGE ON-GOING SKILLS FIND A SUMMER JOB MARCH-MAY GET MOVING TO COLLEGE MARCH-SEPTEMBER CHECKLIST
  17. 17. 17 COLLEGE SEARCH-UNDERSTANDING TYPES OF SCHOOLS COLLEGES: Generally smaller in size. They offer 4 year degree programs (BA and BS) and many 2 year Associate degrees. UNIVERSITIES: Larger institutions with specialized degrees in busi- ness, engineering, pre-med, etc. They offer 2 year, 4 year and many graduate and professional degrees. COMMUNITY/JUNIOR COLLEGES: A small college offering 2 year Associate degrees. Many students attend local com- munity colleges with the intent to transfer to a larger institution to further their education. ONLINE SCHOOLS: Programs and degrees that can be taken online. The advantage of these programs is that you can take classes from inside your home. These programs are great for part time stu- dents and continuing education. VOCATIONAL/CAREER SCHOOLS: Specialized schools of train- ing for specialized trade jobs such as mechanics, computer Technicians, medical assistants, etc. Programs may vary requiring only a few weeks to complete while others may require a year or more. Upon completion, graduates will receive a license, certificate or an Associate Degree.
  18. 18. 18 HOW SHOULD I BEGIN MY COLLEGE SEARCH? There are 3 categories of schools you should list:  2-3 SCHOOLS THAT YOU COULD DEFINITELY GET IN  4-5 SCHOOLS THAT YOU COULD PROBABLY GET IN  7-8 SCHOOLS THAT YOU WOULD LIKE TO GET IN YOU SHOULD BUDGET ON HOW MUCH YOU CAN AFFORD FOR APPLICATION SUBMISSION. IF THE APPLICATION SUBMISSION COSTS FOR 16 OR MORE SCHOOLS MAY BE TOO MUCH, NARROW YOUR SEARCH TO 3-3-3.
  19. 19. 19 COLLEGE APPLICATION CHECKLIST Record College Admission Tasks LIST 3 SCHOOLS YOU CAN DEFINITELY GET IN 1. ___________________________________________ 2. ____________________________________________ 3. ____________________________________________ LIST 3 SCHOOLS THAT YOU WOULD PROBABLY GET IN 1. ____________________________________________ 2. ____________________________________________ 3. ____________________________________________ LIST 3-6 SCHOOLS YOU WOULD LIKE TO GET IN 1. _____________________________________________ 2. _____________________________________________ 3. _____________________________________________ 4. _____________________________________________ 5. _____________________________________________ 6. _____________________________________________ CHECK EACH TASK AS COMPLETED BY SCHOOL APPLICATION MATERIALS RECEIVED __ __ __ __ __ __ __ __ __ __ __ __ __ __ CAMPUS REVIEW/VISIT COMPLETED __ __ __ __ __ __ __ __ __ __ __ __ __ __ COST COMPARISON OF SCHOOLS __ __ __ __ __ __ __ __ __ __ __ __ __ __ ENTRANCE REQUIRE.REVIEWED __ __ __ __ __ __ __ __ __ __ __ __ __ __ WRITE REQUIRED ESSAYS __ __ __ __ __ __ __ __ __ __ __ __ __ __ REQUEST TEACHER/COUNSOLOR RECOMMENDATIONS __ __ __ __ __ __ __ __ SEND TRANSCRIPTS AND 1ST SEMESTER GRADES __ __ __ __ __ __ __ __ __ __ SUBMIT FINANCIAL AID FORMS __ __ __ __ __ __ __ __ __ __ __ __ __ __ SUBMIT SCHOLARSHIP FORMS __ __ __ __ __ __ __ __ __ __ __ __ __ __ ARRANGE HOUSING __ __ __ __ __ __ __ __ __ __ __ __ __ __ OTHER __ __ __ __ __ __ __ __ __ __ __ __ __ __ OTHER __ __ __ __ __ __ __ __ __ __ __ __ __ __
  20. 20. 20 COLLEGE ENTRANCE REQUIREMENTS WORKSHEET School MIN. MIN. MIN. OTHER FILING #OF #OF SPECIAL GPA SAT ACT DEAD. ESSAYS RECOMM. REQUIREMENTS
  21. 21. 21 FAST FACTS 1. What are the trends in the cost of college education? For the 2007-08 academic year, annual prices for undergraduate tuition, room and board were estimated to be $11,578 at public institutions and $29, 915 at private institutions. Between 1997-98 and 2007-08, prices for undergraduate tuition, room and board at public institutions rose by 30%, after adjusting for inflation. 2. What is Title IX? Title IX of the Education Amendments of 1972 prohibits discrimination based on sex in education programs and activities that receive federal financial assistance. 3. Do you have any information of the race/ethnicity of college and university faculty and staff? In fall of 2007, minorities made up 17% of US faculty. 7% were black, 6% were Asian/Pacific Islander, 4% were Hispanic and 1% were American Indian/Alaska Native. About 4/5 of the faculty were White, with 43% being white males and 36% being white females. 4. What are the most popular majors for students? Of the 1,524,000 bachelor’s degrees conferred in 2006-07, the largest numbers of degrees were conferred in the fields of business (328,000), social sciences and history (164,000), education (106,000), and health sciences (102,000). 5. What is the average income for high school and college graduates? Measured in constant 2006 dollars, median earnings for young adults ages 25- 34 who worked full time throughout a full year increased as education level increased. A female in year 2006 at all education levels earned a median in- come of $31,800, with a high school diploma or GED, females earned an aver- age of $24,000 and with a bachelor’s degree or higher, females earned an aver- age of $41,000. Males in 2006 at all education levels earned an average of $37,000 , with a high school diploma or GED-$30,000 and with a bachelors degree or higher-$50,000.
  22. 22. 22 FAST FACTS, CONTINUED 6. Which colleges have the highest enrollment? The University of Wisconsin, Madison, ranks 16 in the top 20 for an enrollment of 41,028 in 2006. The largest college by enrollment is the University of Phoenix, Online Campus with total enrollment of 165,373. The 2nd largest college by enrollment in 2006 was Ohio State University, with 51,818. 7. Do you have any statistics on financial aid for post secondary undergraduates? 66% of all undergraduates received some type of financial aid in 2007-08. For those who received any aid, the total average amount received was $9,100. 52% received grants averaging $4,900 and 38% took out an average of $7,100 in student loans. 7% received aid through work-study jobs that averaged $2,400 in wages. 2% received an average of $5,400 in veteran’s benefits and $ % had parents who took out an average of $10,800 in Parent PLUS loans. 47% of all undergraduates received federal student aid in 2007-08 for an av- erage amount of $6,600. 16% received an average of $2,500 in state funded grants and 20% received an average of $5,000 in grants funded by the post- secondary institution they attended. In 2007-08, Federal Pell Grants were awarded to 27% of all undergraduates at an average of $2,600 and 34% of all undergraduates gook out Federal Stafford loans averaging a total of $5,000. Subsidized Stafford loans were received by 30% of undergraduates and aver- ages $3,400, while 22% received an average of $3,200 in unsubsidized Stafford loans. 8. How long does it take students at colleges and universities to finish their degrees? On average, 1st time recipients of bachelors degrees in 1999-2000 who had not stopped out of college for 6 months ore more took about 55 months from first enrollment to degree completion. Graduates who had attended multiple institutions took longer.
  23. 23. 23 SOME HELPFUL WEBSITES FOR YOU www.offtocollege.com www.saystudent.com www.financiallyspeaking.vpweb.com www.ed.gov/topics www.annualcreditreport.com BUDGETING AND CREDIT HELP Make sure you prepare a college budget and act responsibly with your credit, now that you are an adult. Here are a few tips about your finances.  Remember to subtract all debit and ATM withdrawals from your checkbook register immediately.  Remember to balance your checking and savings accounts. If you regularly bounce checks, your bank could close your account and it is reported to a credit reporting agency. You may not be able to open another account for several years.  Pay your credit card bills off totally each month. Do not spend more each month than you can afford to pay back. Once you get into too much credit card debt, it is hard to recover.  Contact Financially Speaking, LLC for a financial consultation about budgeting and credit 3-6 months prior to leaving for college.  Have fun in college, but act responsibly with your financial life and your personal life. Remember, you and/or your parents are paying for a quality education.
  24. 24. 24 BEST WISHES FOR YOUR FUTURE! THIS PAMPHLET WAS PUBLISHED BY PAM ZIELINSKI FINANCIALLY SPEAKING, LLC (NOT FOR SALE OR REPRODUCTION)

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