This document discusses the financial benefits of obtaining a bachelor's degree compared to an associate's degree or high school diploma. It notes that over a lifetime, individuals with a bachelor's earn between $1-3 million more. However, graduation rates are low, especially for community colleges in Chicago which average only 10%. The document encourages parents to consider graduation rates and costs when choosing a college for their child to maximize the likelihood they earn a degree. It emphasizes the importance of parental support for student success.

1. College
Parent Q and A

2.  Individuals with a bachelors degree earn an
average of $15,000 A YEAR MORE than those
with an associates degree and $22,000 A YEAR
MORE than those with only a high school
diploma.
 Over a lifetime, that’s between $1,000,000.00
and $3,000,000.00 MORE with a college degree
than without one!!!!
 Over half a MILLION $$$ more with a bachelors
degree than with an associates degree.

4.  Chicago community colleges have some of the
lowest graduation rates in all of the nation.
 The AVERAGE graduation rate for a community
college in Chicago is about 10%!!!! That means
90% of the students who attend there will not
earn their degree!

5.  Wouldn’t you love to be able to give your child
$500,00
$1,000,000
$2,000,000
$3,000,000 ?????

6.  By making sure they earn a bachelors
degree (not just enroll in college)

7.  Discuss with your child the schools he/she has been
accepted to.
 Ask your child if they know the graduation rates for
each school and how much they will need to pay “out
of pocket” (after all financial aid) to attend.
 Consider what will give your child the greatest chance
at earning a bachelors degree and encourage them to
pursue that option, even if it a challenge.
 Set your expectations high and make sure your child
knows them. Your child may be an adult, but you will
always be their parent and they look to you for
guidance (even if they pretend they don’t).

8.  U of I (Urbana/ Champagne)- 83%
 DePaul University- 63%
 Illinois State University- 70%
 Western Illinois University- 59%
 Eastern Illinois University- 58%
 UIC (Univ. Of Ill Chicago)- 54%
 Northern Illinois University- 50%
 SIU Carbondale- 44%
 SIU Edwardsville – 46%
 Concordia- 48%
 Indiana State university- 41%
 Northeastern- 20%

9.  Schools outside of the Chicago area tend to
have higher graduation rates than those in/
near Chicago.
 Let’s Compare!

10. ◦ Univ of Illinois Urbana - 83% (2 hrs away)
◦ DePaul University- 63% (Chicago)

11.  Illinois State University- 69% (2 ½ hrs away)
 Eastern Illinois University- 58% (3 hrs away)
 Western Illinois University- 59% (4 hrs away)
 UIC (Univ. Of Ill Chicago)- 54% (Chicago)
 Northern Illinois University- 50% (45 min)

12.  SIU Carbondale- 44% (6hrs away)
 SIU Edwardsville – 46% (4hrs away)
 Concordia- 48% (1 hr away)
 Indiana State university- 41% (5hrs away)
 Northeastern- 20% (Chicago)

13.  When you study in the city you have many
more distractions to contend with.
◦ Old friends NOT going to college. (Everyone else
moved away!)
◦ Work obligations.
◦ Family obligations.
◦ Lack of private study space/ time.
◦ An entire city to enjoy and explore as an adult.

14.  By living in a “college town”, where everyone
and all activities are college focused, college
will be literally all around your child.
 They will be eating, sleeping and living
college, without the distractions of the
outside world.

15.  It is important to know that college is an
investment in your child’s future, but it is not
only for the rich.
 Even if you can’t help financially, your child
CAN go to a 4yr college, and you can help
support them in other important ways.
 Even if your child receives NO federal aid,
because they are undocumented, there are
affordable choices in Chicago.

16.  Grants: Free money
Most students will receive between $5,000 and
$12,000 a year in federal/state grants. These
grants are called Pel, Map and FSEOG. These are
based on your financial need.
Scholarships:
Most schools (private and public) offer some type
of free money based on financial need and merit.
Student Loans:
Student loans are an investment in your child’s
career, but they are only worth it IF YOUR CHILD
GRADUATES! This is why parent support is so
important.

17.  Yes!!! But more importantly they are an
investment in your child’s career.
 Much like buying a home or starting a business, a
student loan allows your child the opportunity to
gain something much more valuable than what
they invested.
 The key is, only take out what you need and
select a school where you will have the BEST
chance of completing the degree.
 For some students this may mean taking out a
little bit more in a loan to go to a school with a
higher graduation rate.

18.  If you buy a new car you will probably spend
somewhere between $20,000 and $35,000.
 That car will never make you money, or
increase your salary.
 It will cost you monthly in car payments, gas,
insurance and maintenance.
 These monthly expenses could easily cost
you $500 a month and yet people buy cars
without hesitation.
 Why do we think spending money on a car is
ok, but spending money on college is not?

19.  If there was a magic piggy bank that would
turn $22,000 into a $1,000,000 would you
use it??
 + =
Absolutely!

20.  But there is an opportunity to turn a small
investment into a lifelong increase in income,
by earning your bachelors degree.

21.  It makes sense to try and save money where
possible, but it is important that we choose
the school that will best support your child’s
success.
 What sounds like a good idea may not always
be.

22.  Three factors to consider:
◦ Graduation Rate
◦ Cost
◦ Reputation
Every student is unique and these categories may not
be equal for every family. You and your child must
decide which factors are matter most to you.

23.  Graduation rate: How much is it worth to go
to a school with a better chance of success?
 Cost: There is a point where a school is no
longer worth what it costs.
 Reputation: The school your child will
graduate from will be on their resume’ for the
rest of their life. This will distinguish them
from their competition and either help them
or hold them back.

24.  Let’s compare
 U of I (Urbana) UIC (Chicago)
 Graduation Rate 83% 54%
 Prestige Very Prestigious Great School
 Loans $5,500 $5,500
 Out of pocket $2,000 $0
 In this situation, the student must decide if $2,000
per year is worth the future career opportunities that
might come from attending such a prestigious and
well-known school; even if it meant moving away and
working over the summer to earn the $2,000.

26.  Ms. Clark is here to help you! Please feel free
to talk to me individually about your child’s
options.
 You can always come in and see Ms. Clark
Monday-Friday before school, after school
and during fourth period.

27.  May 1st is the official college decision deadline.
 Why May 1st? -It is important to allow enough time
for your child to complete the necessary paperwork
to properly enroll in college and handle all financial
aid issues.
 Also, there are several ways we celebrate the
transition from high school to college and we want
everyone to be able to participate.
 Most importantly, we want your child to know they
have a path to college before they leave. This is
important to their self-esteem and their
commitment to their education.
With your support and guidance, in four years your child
will be earning their COLLEGE degree!
Congratulations!