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College Planning News
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Information for the College Bound
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July 2008
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Greetings!
With one-third of the summer behind us, we hope you are enjoying the three R's: resting (good for the body), reading (good for the mind) and reflecting (good for college planning). This time without the pressures of school can be the perfect opportunity to contemplate significant topics for application essays and appropriate environments for college. Families can use this time for relaxed assessments of colleges to set the stage for the beginning of the application season.
Seats are still available for our free Seminar on College Planning next Tuesday, July 8, at our Austin offices. Call Miriam Willis at 512-306-8567 to reserve a place. Please pass this on to a friend!
Best wishes for a cooler summer, Hank Ewert and Eric Heineman College Planning Consultants
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College Board Changes Test Reporting
Recently the College Board approved an important change to
the current SAT score-reporting policy. Starting next year, students with have the
freedom to send their scores by individual sitting (test date), choosing the date that they feel
best represents their ability to colleges and universities, at no additional
cost.
Historically, when a student arranged a SAT report, colleges received all results from a
student's test-taking record. While most schools would
state that their evaluations would be based on only the best results from the testing record, students often feared that colleges would frown on
their lesser scores, or judge the number of times in they had taken the SAT.
The College Board explains that the change is intended "to reduce
student stress and improve the test-day experience." Interestingly, this policy
mirrors the policy of the American College Testing program
( ACT).
How does this change affect students? Seniors graduating in
2009 should not be affected, as their scores will be completed before that
time. Juniors and younger students can plan on using this policy to confidently
apply to schools presenting only their highest results. This new policy will, however,
require that students pay close attention to the scores received by
each school, as it is will be possible to have different score data in place at each school. |
Financial Aid 101: The Basics
Given the escalating cost of higher education, who is interested
in help defraying the cost? Everyone, of course.
Financial aid professionals will separate opportunities between those that are need-based, for those who demonstate they can not afford the cost without assistance, and merit-based, generally used to attract a student's talents or profile to enhance the profile of the school.
So while individual colleges exercise
professional judgment on both a family's expected contribution, as well as the
components of a student's aid package, the basic types of college financial aid available can be broken down broadly
into the following categories:
Financial Aid based on Demonstrated Need
Grants: Free money that is based on a family's demonstrated
need and does not need to be paid back. Some grants are federally or state funded;
most come from a school. To apply for these grants, families must demonstrate
financial need through the Free Application for Federal Student Aid (FAFSA);
some schools - mostly selective, private colleges - also utilize the College
Board's PROFILE application as well.
Student Loans: Money that is borrowed and must be paid back
with interest, but repayment is often deferred until graduation. A number of
student loan types exist, including those administered by the federal
government like the Subsidized Stafford Loan and Unsubsidized Stafford Loan, federal Perkins Loans and PLUS loans, as well as private student loans, which
are available through banks.
Another option: The federal Work-Study program, where students work in
exchange for funds to pay for college, is popular on many campuses, but can
realistically only cover a small portion of a student's actual need.
Financial Aid based on an Individual Student's Merits
Merit Scholarships: Free money that does not need to be paid
back, usually awarded to students with achievements in academics, athletics or
other school activities. Merit scholarships can come from many sources, such as
the governments, churches, professional or recreational organizations, as well
as the college itself.
Another Option: A number of other options exist to help pay
for college, including the U.S.
military's ROTC program, where students receive money for college in exchange
for military service; many schools will have one or more chapters for the Army, Navy or Air Force ROTCs.
With so many people desiring financial aid, and so few of
them knowing much about it, it is crucial that families learn as much as they
can about financing higher education before applying to schools.
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Trivia Corner
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Which Texas university is the most represented alma mater (college or university) of our most recent legislature of Texas state senators and representatives? And a bonus for knowing which school is second!
A prize is offered to the first person who responds to Hank.
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Last month's trivia question asked at which American college Sir Winston Churchill introduced the term "The Iron Curtain" to the world. The then-former British Prime minister invoked the term in a speech in 1946 at Westminster College in Fulton, Missouri.
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