Life After High School

As you get closer to graduating from high school, you’ve got many important decisions to make about your future. One of the most important decisions you’ll be faced with is which college or career school to attend and how you’ll pay for it. Knowing your personal needs will make choosing the right school easier. After all, the college you choose may determine the jobs available to you, who your friends will be, and even where you’ll live and work.

What information should you know before choosing a college?

Some questions you should ask when considering a college or career are:

  • Does the college offer the courses and type of program you want?
  • Do you meet the admissions requirements?
  • Is the college accredited?
  • Does the college offer a quality education?
  • Have many of the college’s graduates been successful and had successful careers?
  • Is state or federal student aid available to you at the college?
  • Does the college offer the services you need and activities you are interested in?
  • What measures are taken to ensure the safety of the students?
  • What is the college’s reputation?
  • Does the college have good job placement rates?

Start searching for the right college by requesting course catalogs or reviewing the college’s website. Most of this information is covered either online or in the catalog. Also, the reference section of your local library has many books that provide information about colleges and career schools. You can also find this information by searching different web engines, visiting the campuses and attending college fairs. Also, be sure to ask teachers, friends and family members about the school. Maybe one of them graduated from the college and can offer personal insight!

Finally, ask each college you contact for a copy of their campus security report. This report provides information on the campus (and local) crime statistics and security policies.

Your fact-finding mission

Getting the information you need to make an informed decision about a college may seem like the easiest thing in the world, but it’s not. There are numerous websites, catalogs, and colleges offering what seems like a limitless stream of advice. Your job is to separate the good information from the bad. Once you decide what you want and set your priorities, it’s time to research each college you are considering. On the following pages, you’ll find several avenues to help you with your search.

Course catalogs

Some students try to compare colleges on the basis of course catalogs; however, this can be an unreliable predictor of course quality. Some colleges have student organizations that put out “rankings” of the professors and classes based on the opinions of students from previous semesters, so try to get your hands on a copy of this booklet.

College fairs

Many admission officers travel around the country and spend quite a bit of time talking with students. Colleges use fairs to promote themselves and attract new applicants, so they’re great places to pick up informational booklets and ask questions. For information and dates about college fairs, or upcoming visits from college admission counselors, contact your high school counselor or scholarship coordinator for details.

College visits

The best way to determine if a school’s right for you is to visit the campus. Try and visit each college you are interested in attending and, if this isn’t possible, visit the top schools that you’re accepted to before you decide. You can take a first-hand look at life on campus – and even spend the night in a dorm.

While you’re visiting, be sure to pick up the college newspaper to see athletic events, information about student organizations, activities offered, etc. The more you do and ask on your visit, the more of an accurate impression you’ll get. We suggest you contact the undergraduate admissions office for more details.

Books and college guides

Picking a college is one of the biggest decisions of your life so don’t trust one source of information. Visit your local bookstore (or library) and look for college guides and books.

The Internet

There are literally thousands of resources available to you via the Internet that’ll help you find the college that’s best for you. Many sites have college search engines that will compile a list of colleges based on your interests.

Coming up with the CASH

Regardless of which college or career you choose, you’ll probably need help paying for your tuition, fees, books, and living expenses. One of the scary parts of going to college is trying to find the financial resources that will help you get the education you want.

College is an investment in your future – but it doesn’t come cheap. Whether you choose a community, private, or public college, you and your family can finance the education you deserve. However, you will need to understand the costs associated with college and financial aid options. Creating a plan to pay for college takes effort so you’ll need some help and guidance.

Because financial aid is limited, it’s important to start EARLY and investigate all of your options. You can begin with these simple steps:

  1. Talk to your family about financing your education.
  2. Learn where your money goes by breaking down college expenses. There are many books available at your local bookstores that provide recent trends regarding college tuition and financial aid.
  3. Understand the financial aid process by being prepared.
  4. Don’t limit your options by ruling out high-cost colleges. The financial aid system works proportionally, making up the difference of what you can afford to pay and what college costs.
  5. Create a financial plan to pay for college by learning how much you and your family will be expected to pay toward your education.
  6. Apply early for financial aid by completing your application accurately and on time - financial aid is limited so the earlier you apply the better.
  7. Research loans and scholarships by talking to your guidance counselor or admissions officer at the college(s) in which you are interested.

Other resources

As you create a financial plan to pay for college, you should know there are many resources available to you. You’ll need to research thoroughly what’s available to you. Below, you’ll find several possible avenues to begin your search.

College Work-Study Program

Work-study is a good way for you to reduce your debt. While work-study wages are minimum wage, they don’t count as income for the next year’s aid package.

Grants and scholarships from clubs/organizations

Clubs, alumni groups, and civic organizations provide funds for college students. These awards are usually small, but every little bit counts! Many companies – maybe even the one your parents work at – provide money for college.

Federal Government

The U.S. Department of Education offers many financial aid programs; however, you must be eligible to receive this aid by meeting some or all of the following requirements:

  • have a demonstrated financial need;
  • possess a high school diploma, a GED, or demonstrate the ability to benefit from the program or training offered;
  • be enrolled in an eligible program at least half-time;
  • be a U.S. citizen;
  • make satisfactory academic progress;
  • sign a statement of education purpose/certification on refunds and default;
  • sign an Anti-Drug Act Certification; and/or
  • sign a statement of updated information and registration status.

Federal Pell Grant

This is a federally funded program, which provides non-repayable grants to students based on financial need and the total cost of attending a particular school. Eligibility for the academic year is based on the formula established by the Federal Government. Pell Grants may be paid directly to you, your school or a combination of both. The amount of the award will depend not only on your EFC (Expected Family Contribution), but also on the cost of attending, whether you are a full or part-time student, and if you attend for a full academic year. You may not receive Pell Grant funds from more than one school at a time.

Federal Plus Loan

The Federal Plus Loan program enables parents with good credit histories to borrow money to pay the educational expenses of dependent undergraduate students. Parents may borrow amounts not to exceed the difference between the cost of college minus any other financial aid the student receives. The interest rate is variable, but it will not exceed 99% and is adjusted each year on July 1.

Federal Supplement Educational Opportunity Grant (FSEOG)

FSEOG is a program for undergraduates with exceptional financial need. Priority is given to Pell Grant recipients and the grant does not have to be paid back. You may qualify based upon when you apply, level of need, the funding level of the school you’re attending, and the policies of the financial aid office where you attend school.

For additional information on Federal Financial Aid Programs, call 1-800-433-3243 (hearing impaired TTY: 1-800-730-8913) or visit http://federalstudentaid.ed.gov.

The Military

The Reserve Officer Training Corps (ROTC) has branches at many colleges. To qualify for an ROTC scholarship, you must apply to the program in your senior year of high school, have good grades, meet SAT criteria, and pass a physical exam. Competition for these scholarships is very intense; but if you are selected, you will receive a full or partial scholarship plus a monthly allowance. The catch, of course, is that you must go on active duty following graduation.

Loans

The fact is, banks loan money – it’s their job! If you have to go this route, check to see if a local bank offers a rate reduction to students who attend a school in the state where the bank is located. Also, check with the financial aid offices at your prospective college to find out whether any of these programs are available at a local bank in their area.

AmeriCorps

The AmeriCorps program provides educational awards in return for work in your community. After successfully completing a term of service, AmeriCorps members who are enrolled in the National Service Trust are eligible to receive an education award. The education award can be used to pay education costs at qualified institutions of higher education or training, or to repay qualified student loans. A member has up to seven years after his or her term of service has ended to claim the award.

Every AmeriCorps member receives a wealth of benefits – the most obvious is the satisfaction of getting things done for and with people who need your help. With AmeriCorps, your impact on the community you serve will be immeasurable. As an AmeriCorps member, you are eligible for a variety of benefits that make the dedication of a year of your life worthwhile in every way:

  • Education Award: AmeriCorps members who complete their service are eligible for an education award of $4,725 for full-time members; part-time members are eligible for a portion of that amount.
  • Living Allowance: All full-time AmeriCorps members receive a modest living allowance, which may adequately cover expenses if you live at the level of the people with which you are working. Members will also receive limited health benefits, may qualify for child care assistance, and may get relocation expenses covered (depending on your specific program).

For more information on the AmeriCorps program, you may call 1-202-606-5000 or 1-202-606-3472 (hearing impaired TTY) or visit their web site at http://www.americorps.org.

Education Tuition tax credits

There are several tax benefits for parents who are sending or planning to send their children to college and are available as a result of the balanced budget signed into law in August of 1997. These tax cuts give working Americans the financial means to send their children to college. When fully phased in, it is estimated that 5.8 million students are expected to benefit under the HOPE Scholarship tax credit. (This is for general information only. Please consult your tax advisor or detailed information pertaining to tuition tax credits).

HOPE Scholarship

The HOPE Scholarship is a tax credit of up to $1,500 per eligible student that may help make the first two years of college or vocational school available. Students will receive 100% tax credit on the first $1,000 of tuition and required fees and a 50% credit on the second $1,000 (for a maximum of $1,500). This credit is available for tuition and requires fees less grants, scholarships, and other tax-free educational assistance and will be available for payments made after December 31, 1997 for college enrollment after that date. A high school senior entering his/her freshman year of college may be eligible for as much as a $1,500 HOPE tax credit.

This credit is phased out for joint filers who have between $83,000 and $103,000 of adjusted gross income, and for single filers who have between $40,000 and $50,000 of adjusted gross income. The credit can be claimed for students who are in their first two years of college or vocational school, and who are enrolled on a half-time basis in a degree or certificate program for any portion of the year. The taxpayer can claim a credit for his own tuition expense or for the expenses of his/her spouse or dependent children.

Colleges

A college that really wants you may give you a full or partial scholarship or grant. Some colleges will give scholarships and grants based on need alone, while others assign aid based on merit or athletic ability. It’s best to consult the financial aid office at the respective college for more information.

Let me in!

Now that you know what to look for when choosing a college, and how you can finance your education, consider the factors colleges weigh as they decide whether to choose you as a member of their freshmen class.