Strategies for Financing Your Child’s College Education

Parents hoping for any kind of need-based financial aid need to file a FAFSA (Free Application for Federal Student Aid).  The FAFSA goes live on October 1st of each year and is filed during a child’s senior year.  The FAFSA uses tax information from two years prior. FAFSA information is shared with each college to which your child applies. When filing the FAFSA be sure to check “yes” to work study, so if the perfect opportunity presents itself, like doing research for a favorite professor, your child will be eligible to do so. (Some 300 colleges also require the CSS Profile, which is a much more intrusive financial aid form.)

Have your child apply to colleges one tier below where they can likely get accepted.  For example, NYU has a fabulous business school, STERN, but it is expensive ($75,000 +).  If your business-oriented child applies to a college one tier below NYU, he/she may get a good-sized scholarship along with a fabulous education, particularly if you identify a school that specializes in your child’s specific area of interest.  St. John’s University in NY has a fabulous program in Actuarial Science and Risk Management.  St. Joseph’s University in Philadelphia is known for its business program in food services. Penn State excels at Supply Chain Management. 

Have your child visit the high school guidance office which has applications for all local scholarships.

Parents and students should touch base with all organizations with which they are affiliated (religious organizations, Boy Scouts, Girl Scouts, 4H, and so on) to inquire about scholarships.

10 Tips for Impressive College Applications: Part 2

Part 1 of this column listed five of ten tips for filing impressive college applications. Students were urged to: clearly express to each college why it’s a great fit, earn a top GPA (while taking an impressive course load) and post impressive SAT scores, write a resume to include on college apps, develop a “passion project,” and engage in volunteer work.  Additional tips include:

6) Write an impressive essay.  Most students start out with the Common Application, which is accepted by more than 900 colleges. It requires one essay between 250-650 words in length.  The goal of an effective college essay is to show insight into one’s admirable character, a sense of direction for the future, and a thirst for knowledge and opportunities in the next stage of life.

7) Recognize that “optional” really isn’t optional. If colleges ask for something – even if they say it’s optional – do it, and do it to the best of your ability.  This comes up frequently in the form of supplemental essay questions.  Realize that other applicants – your competitors – will be doing everything requested by the colleges, and you don’t want to be at a disadvantage. 

10 Tips for Impressive College Applications: Part 1

1) Know why you are applying to each specific college, and clearly express those reasons. Does the college have a great program for your intended major? Does it offer impressive internships, or have a high acceptance rate to med school? Does it host a study abroad program in a particular country that would benefit your academic interests?  Let each college know the specifics as to why it’s a great fit, as colleges strongly favor applicants whom they believe will attend their school, if accepted.

2) Cover the basics – which means earning a great GPA while taking a competitive course load and posting impressive SAT scores.  Many high schools in New Jersey offer twenty or more AP courses, and colleges consider how competitive a course load you took based on the options you were provided.  As for SAT scores, the “average” SAT score at several New Jersey high schools, including Montgomery, Princeton and West Windsor-Plainsboro North and South, all topped 1,300.  So the bar is set high for students who want to stand out among their peers.

Match Your Passions with College Program

College-bound students often choose their college major based on fields that are popular at the time and offer promise of a rewarding career. These days, business and STEM-related fields seem to top the list. But students should also consider the activities that bring them joy, as the pastimes that they engage in for recreation and relaxation can often lead to rewarding careers.  

Students who love drawing – and are talented in the field – have several options for turning this passion into a profession.  If they also are attracted to the sciences, a career as a Medical Illustrator may be enticing.  A bachelor’s degree in this field is offered at Rowan University (NJ), Arcadia University (PA), Rochester Institute of Technology (NY) and Cleveland Institute of Art (OH).  Other illustration options include a Bachelor of Fine Arts in Cartooning from The School of Visual Arts, and fashion-related programs at the Fashion Institute of Technology, both located in Manhattan.  The renown Rhode Island School of Design offers courses in Editorial Illustration, Journalistic Illustration, and Sci-Fi & Fantasy Illustration.