Franklin  Workshop  Presentation 2010   2011  S S E
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  • 7 DESCRIBE THE IMPORTANCE OF GOOD STUDY SKILLS NO MATTER WHERE A STUDENT GOES TO COLLEGE (AND HOW CRITICAL STUDY SKILLS ARE TO MAXIMIZING ONE’S EDUCATION) DESCRIBE THE IMPORTANCE OF STARTING THIS PROCESS AS EARLY AS POSSIBLE AND HOW CC SHIFTED ITS STARTING POINT WITH CLIENTS FROM END OF JUN. YEAR TO END OF SOPH. YEAR/BEG. OF JUN. YEAR TO ALLOW FOR AS MUCH TIME AS POSSIBLE TO RESEARCH AND VISIT SCHOOLS AND DO THE WORK OF STRATEGICALLY COMPLETING APPLICATIONS BEFORE FALL OF SENIOR YEAR
  • We are the medium or the “connecter” with College Coaches to High School students.

Franklin Workshop Presentation 2010 2011 S S E Presentation Transcript

  • 1.
  • 2.
  • 3.
    • The common theme that all parents share is to send their son or daughter to the best college that they can afford, in order to give their child an advantage in life without jeopardizing their own retirement.
    • Our goal today is to educate you on the rules of the game and how to win.
    “ We believe, that is, you and I, that education is not an expense. We believe it is an investment." - Lyndon B. Johnson
  • 4.
    • College Statistics
    • Preparing for College
      • SAT/ACT
      • College Search Process
    • Expected Family Contribution ( EFC)
    • Understanding Financial Aid Forms
    • College Costs
    • Financial Aid
    • Awards, Appeals and Negotiating
    • How the Economy has Effected College Planning
    • How to Maximize Your Financial Aid Award
    • Q & A
  • 5. Source U.S. Census Bureau
  • 6.
    • Nationwide there are 4,216
    • accredited colleges.
      • Four year colleges: 2,533
        • Public 639
        • Private 1,894
      • Two year colleges: 1,683
        • Public 1,061
        • Private 622
    • Source: National Center for Education Statistics
  • 7. Performance in High School Matters
    • Students who get A’s in high School graduate college at an 80% rate
    • Students who get B’s in high School graduate college at about a 50% rate
    • Students who get C’s in high schools graduate college at about a 35% rate
    • Students who get D’s in high School graduate college at about a 10% rate
    Only 1 out of 2 who start college actually earns a degree
  • 8.
      • Four years 36.1%
        • Public 29.0%
        • Private 50.3%
        • For Profit 25.7%
      • Five years 52.6%
        • Public 49.1%
        • Private 60.8%
        • For Profit 30.0%
      • Six years 57.5%
        • Public 54.8%
        • Private 64.5%
        • For Profit 32.6%
      • Source: National Center for Education Statistics
  • 9. Is your student ready?
    • Discussed college with parents and understands cost limitations
    • Is prepared to apply to 6-10 competing schools grouped in like categories
      • Reach Schools
      • Match Schools
      • Safety Schools
    • Built a resume of achievements
    • Has outlined essays
    • Is prepared to apply
    • Strong thoughts about a career
    • Taken the right courses
      • AP courses are rated higher by colleges
    • Good grades
    • Community service
    • Participated in extracurricular activities
    • Became a leader
    • Has a part-time job and saved some money for college
    • Has good ACT/SAT scores on standardized tests
  • 10.
    • ACT
    • Test is 4 hours long
      • English: 45 minutes
      • Math: 60 minutes
      • Reading: 35 minutes
      • Science: 35 minutes
    • Optional Writing section
    • Scored on a range of 1 – 36
    • Highest Possible score is 36
    • For additional information go to www.act.org
    • SAT
    • Test is 3 hours and 45 minutes
    • 3 sections
      • Mathematics
      • Critical reading
      • Writing
    • Each section scored on a scale of 200 – 800
    • Highest possible score is 2400
    • For additional information go to the College Board www.collegeboard.com
  • 11.
  • 12.
    • Public or Private
    • Campus Location
      • Suburban
      • Urban
      • Rural
    • Entrance criteria
    • Type of school
      • Large university, liberal arts, single- gender, military, etc.
    • Majors offered
    • Enrollment
    • Cost
  • 13.
  • 14.
  • 15.
  • 16. MYTHS
  • 17.
  • 18.
  • 19.
    • The Federal Formula (FAFSA)
    • Used as the exclusive needs analysis at:
    • 89% of all 2533 colleges
    • 99.7% of Public College ( 637 of 639)
    • 86% of Private Colleges (1628 of 1894)
    • The Institutional Formula (CSS Profile)
    • 11% of colleges (268 of 2533) require it
    • Local examples….Boston College, Boston University, Brandeis University, Bentley, College of the Holy Cross, Brown University
    • Highly Selective
  • 20.
    • EFC as determined by FAFSA
      • Parent contribution from income 22%-47%
      • Parent contribution from assets 2.6%- 5.6%
      • Student contribution from income 50%
      • Student contribution from assets 20%
    • Other variables
      • # of household members
      • # of family members currently attending college
  • 21.
  • 22. According to collegeboard.com, the cost per year for a 2010 freshmen at Bentley University is $49,753 per year or $199,012 for four years. According Edmunds.com, the base price for a 2010 Bentley Continental GT is $182,800 .
  • 23. National Average Annual College Costs Public University $18,326 Private University $37,390 Many Private Universities $45,000+ Annual Cost Increase 6% per year Massachusetts has highest costs in the country! (source College Board)
  • 24.
    • Direct costs:
      • Tuition and fees
      • Room and board
    • Indirect costs:
      • Books
      • Living expenses
      • Transportation
  • 25.
  • 26. Source: College Board : “Trends in Higher Education”
  • 27.
  • 28.
  • 29.
    • The FAFSA form is used to collect the family’s financial information (www.fafsa.ed.gov)
    • The U.S. Government’s Dept. of Education determines a family’s EFC
    • Used by all accredited Public & Private Colleges and Universities
    • It is required in order to qualify for Federal and State financial aid, grants and loans
    • Available in English or Spanish
    • Should be filed as soon as possible after January 1 st
    • Use estimate income tax if necessary
  • 30.
  • 31.
    • Clarifying the facts for students of
    • divorced or separated parents:
    • Question:
      • Who’s information goes on the FAFSA and CSS Profile?
    • Answer:
      • FAFSA : Whichever parent the student lived with more of the time ). If that parent is re-married, then stepparent information must also be included
      • CSS Profile and Noncustodial Profile :
        • The Custodial parent (include stepparent information if re-married) must complete the Profile
        • The Noncustodial Profile must be completed by the noncustodial parent (include stepparent information if re-married), if form is required by the school
    • *The base year is the tax year before you enter college
  • 32.
  • 33.
    • CSS Profile is used to collect the financial data (www.collegeboard.com)
    • Used by 268 colleges to distribute institutional funds
    • In addition to the FAFSA
    • More assets are assessable
    • Primary residence home equity is considered
    • Second home is considered (also included on FAFSA)
    • Younger siblings assets
    • Small business value
    • These assessment often result in an EFC which is “much higher” than the FASFAA calculation
    • Asks for additional information
  • 34.
    • Percentage Of Need Met
      • Some schools meet 100% of need
      • Others only meet 30-50% of need
    • Percentage Of Gift Aid
      • Some schools meet most need in FREE money, while others give mostly loans
    • You should know what each school offers BEFORE APPLYING
  • 35.
    • A common mistake most parents make is allowing the “sticker price” to influence their decision by simply avoiding those schools that carry a high price tag.
    • Don’t let this happen to you!
    • The following slide is an example that illustrates the actual cost of attending a private “more expensive school” vs. attending a public “less expensive
  • 36. Amherst College : Total EFC =$10,000 Total Gift = $35,554 Total Self = $6,274 Out of pocket = $16,274 UMASS - Boston: EFC = $10,000 + Unmet Need = $4,034 Total EFC = $14,034 Total Gift = $2,723 Total Self = $3,328 Out of pocket = $17,362 UMASS - Boston: Cost - $20,085 EFC - $10,000 Need - $ 10,085 UMASS – Boston: Meets 60% need Gift aid - 45% Self help - 55% The “inexpensive” state school actually costs $1,088 more to attend .
  • 37.
    • Appealing
    • The first award may or may not be the best offer
    • Follow each school’s appeal procedure
    • Base appeal on situations related to
    • “ mis-awards” or “special circumstances”
    • Special Circumstances
    • Loss of employment or dramatic reduction in parent’s or student’s income/assets
    • Reduction in child support or social security benefits
    • Financial responsibility for elderly parents
    • Unusual medical/dental expenses not covered by insurance
  • 38.
  • 39.
  • 40.
  • 41.
  • 42.
  • 43.
  • 44. $ $ $ $ $ $ $ $ $ $ $
    • It is a financially sound strategy to make use of rules that allow you to get more money!
    • It's no different than using legal tax "loopholes" to save money!
    • You may get thousands more just by knowing the rules that they don't want you to discover !
    Knowing more, gets you more!!
  • 45.
  • 46. Asking colleges to help you with financial aid is like asking the IRS to help you with tax planning strategies!
  • 47.
    • High School Guidance Department
    • College Financial Aid Office
    • Your accountant
    • Do it yourself
    • College Consultant
    • Guidance Counselors & Financial Aid Officers are there to help however…
    • Guidance Counselor to Student ratio 1 to 600
    • College Financial Aid Officer to Student ratio 1 to 4,342 Independent Research 04 08
  • 48.
    • Planet Tuition
    • www.fastweb.com
    • www.collegeboard.com
    • www.brokescholar.com
    • www.collegeanswer.com
    • www.student scholarshipsearch .com/ ebook
  • 49.
    • There is much false, misleading and plain incorrect information about college funding out there!
    • There are literally billions of dollars available through various government and private grant, scholarship, loan, and work study programs!
    • The FAFSA forms almost contain errors when families complete them on their own, creating costly delays and/or loss of money you would have been eligible for if the forms were filled out correctly!
    • All public schools use only the FAFSA. Private schools can require additional (and confusing) forms that require additional financial information!
    • Financial Aid is given out on a first come first served basis. Once their allotment of aid is gone, it is gone! Forms should be filed as soon as possible after January 1 st of the senior year.
    • Some schools historically provide more aid than others!
    • Just like buying a car…you usually have to haggle effectively to get the best deal! (“Sticker price” means nothing!)
  • 50.
  • 51.
    • Analysis of family’s financial profile
    • Determine EFC for FAFSA and CSS Profile forms
    • Identify exposures in financial profile affecting FAFSA and CSS Profile
    • Asset reallocation recommendations
    • Assist in college list process based on historical Financial Aid awarding policies
    • Determine Cost of Attendance (COA) based on school selection and your EFC
    • Estimate current year’s taxes prior to completing FAFSA and CSS Profile forms
    • Provide answer keys for both the FAFSA and CSS Profile forms
    • Compare and evaluate Financial Aid Award Letters
    • Prepare Appeal/Negation Letters if necessary
    • Cash flow analysis and planning
    • Student and parent Loan recommendations
    • Payment Plan recommendations
    • Loan repayment strategies
    • Assistance with college major selection
    • Assistance with identifying family expectations
    • Online SAT/ACT preparation
    • Create a month by month college plan
    • Assistance with narrowing geographic region
    • Assistance with creating school list
    • College visitation plan
    • Management of the college application process
    • Identifying early decision/early action options
    • College Interview Questions and strategies provided
    • Essay theme development
    • Essay edits
    • Managing the college correspondence
    • Understanding and managing the waitlist process
    • College selection process
    • Managing the college deposit process
    • Analysis of student record: transcript, class rank, strength of schedule
    • PSAT / SAT/ACT Analysis
    • Standardized testing recommendations
  • 52. Connecting College Coaches & Directors to College-Bound Student-Athletes & Performing Art Students
    • Website profile/resume on All-American’s national college coach/directors search
    • Unlimited self-editing/updating of your website profile: (The capability of uploading your high school transcript, additional letters of recommendation and media clippings)
    • Preference College Promotions
    • Up to a 10 Minute Website Profile Video:
  • 53. Evaluation Form PLEASE Fill Out! Do You Want To Schedule An Appointment? Check “ YES” Box Do Not Want An Appointment Leave Blank GOOD LUCK! Take Action! Your Childs future starts now!
  • 54.
  • 55.
  • 56. Regional Offices California: Palm Springs Florida: Tampa Massachusetts: Franklin, Pittsfield, Worcester Ohio: Cleveland Pennsylvania: Lancaster