Colleges That Meet Full Need – No Loans Required!

There are opportunities for students to graduate from college debt free, but they require some advanced research and a basic understanding of some financial aid terms. A small number of U.S. colleges have eliminated federal loans from financial aid packages, replacing them with scholarships and grants (which do not get paid back) and, sometimes, work study. But the details on eligibility vary greatly among colleges, so students need to look at the fine print. 

Over the past twenty years, tuition and fees have increased dramatically at almost all colleges and universities, as indicated by statistics from U.S. News & World Report. Tuition and fees at private national universities have reportedly jumped 132%, those at out-of-state public national universities increased 127%, and those at in-state public national universities rose 158%. 

To attract top students concerned about the financial costs of their college education, some schools are offering a “no-loans” financial aid package to all applicants regardless of financial need. But there are sometimes stipulations. Some colleges require a minimum contribution from students (expected to come from summer earnings or other sources); some have a no-loans policy only to students from certain demographics or with certain qualifications.

The Most Regretted College Majors

Some 44% of U.S. adults regret their choice of college major, according to a survey by Dreambound.com. If they could do it all over again, 13% reportedly would major in Computer Science while 8% would choose Business.

“STEM majors are most likely to be satisfied with their major,” reported Dreambound, “likely because of the higher salaries and job opportunities. It’s also no surprise that Computer Science is so popular given how the field has exploded in recent years.” 

Education majors, however, were found to be among the most dissatisfied, with 53% wishing they had studied something else.  Unhappiness among teachers peaked during COVID.

Almost half of humanities and arts majors regret their choice, and enrollment in those disciplines is shrinking rapidly, according to a report in The Washington Post.

These 5 Strategies Can Reduce College Costs

College debt is a hot topic, and for good reason. As of 2023, more than half of all students left college in debt. For New Jersey students, the average debt was $35,202. These students joined the ranks of 44 million borrowers who collectively owe $1.75 trillion in education debt, according to statistics by Forbes. A few strategies can help students avoid drowning in college debt:  

1) Students should consider the cost of attending academically comparable colleges.  While The College of New Jersey (TCNJ), Villanova, Drexel, and St. Joseph’s are all highly regarded schools in relatively close geographic proximity to each other, the cost of attending each may vary dramatically. New Jersey students get “in-state” tuition at TCNJ, which is currently $17,980. Tuition (not including room and board) is $64,906 at Villanova, $60,663 at Drexel, and $51,340 at St. Joseph’s. Of course, students may receive “merit scholarships” that vary greatly.  

2) Students should avoid starting college “undecided” because, once they have chosen a major, they may find that many of their previous courses do not fulfill requirements of their field. Thus, they need to take additional courses, often delaying graduation and adding to their college cost. Also, undecided students miss out on the opportunity to apply for scholarships offered to students in particular fields. For example, hundreds of scholarships are available to students seeking an education in STEM fields. 

3) Students should seek part-time jobs with companies that offer tuition reimbursement. Chipotle and McDonald’s offer up to $5,250 a year to eligible part-time workers. Starbucks will cover the full tuition for employees enrolled in Arizona State University’s online program. Other companies that offer some type of tuition reimbursement include Amazon, Apple, Best Buy, Papa John’s, Pizza Hut, Taco Bell, UPS, and Walmart.

College Admissions Advantage by Early Decision

When students apply to colleges, early in their senior year of high school, they can benefit greatly by filing their applications prior to November 1^st.  That’s the typical cutoff to meet “early action” and “early decision” deadlines.  Students can apply “early action” to as many colleges as they like. The benefits are that they will hear back sooner than their peers who file regular applications while they are under no obligation to enroll. Often, the acceptance rate is higher for early action applicants. 

But the real advantage comes to students who apply “early decision” to any of a host of competitive colleges and universities. Early decision is binding, meaning students are expected to enroll if accepted, unless their financial need is not met. So, students should only choose this option when they are competitive applicants, certain of their first-choice college, and not too concerned about finances.  Many colleges strongly favor early decision candidates because it boosts their school’s “yield” – the percent of accepted students who enroll.

The End of an Era: No More Sharpened #2 Pencils

                       

The end of an era was marked by the December 2^nd SAT when students arrived, for the last time, with sharpened #2 pencils. For nearly 100 years, since June 23^rd, 1926, college bound students engaged in the time-honored ritual of taking the lengthy, paper and pencil exam that would impact their college prospects. 

While the SAT still exists, and is just as important as ever in gaining admission to many competitive colleges, it’s now a digital exam. The PSAT and SAT exams have embraced technology and are now adaptive, computer-based tests.  Students start out by working on a Reading/Writing module consisting of 27 short passages (typically one paragraph long), each followed by one question.  The questions test a student’s abilities in reading comprehension and grammar/punctuation skills.  Based on a student’s success on the first module, the second module consists of either easier or more difficult questions, which will ultimately impact one’s score.

After a short break, students then move onto their first Math module, covering a range of topics with the most difficult being in the area of Algebra II/Trigonometry.  There is no pre-calculus or calculus covered on the SAT, so students should not wait until they are in advanced Math classes to start taking the exam.  Here too, based on a student’s success on the first module, the second module consists of either easier or more difficult questions. Students are provided with an online calculator as well as a countdown clock, letting them know, as they progress through the test, exactly how much time they have left.  Students are allowed to bring their own calculator to use in place of the online one, and they are provided with scrap paper.