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Category Archives for Middle – High School

Last-minute Tips for Paying for College – a Critique and Alternative

Are these “TIPS from the Pros” all they have to offer?

The root cause of the struggles of funding college is exemplified In the article “Last-minute tips for paying for college” by Jessica Dickler. Her article is based on tips from two financial advisors – Richard Polimeni from Merrill Lynch and Liz Miller of Summit Place Financial Advisors, along with Joe DePaulo of College Ave Student Loans and Eric Greenberg of Greenberg Educational Group. From these so-called “Pros” she put together five tips on how to put together a successful college funding strategy – even at the 11th hour.  One would think that these “tips” are provided as “it’s not too late to come up with a few last-minute strategies to ease the burden of the sky-high cost of college.”  Let’s look briefly at each one and provide a bit of context respectively. (Click to view the article.)

1) Fill out a FAFSA – “Cobbling together”

Her point of filling out the FAFSA as a gateway to aid and scholarships for the next semester is absolutely true. Federal student loan funding will be available next semester for your student. There is the interesting phrase “you can cobble together a bunch of these”; this seems to indicate that there is no need to have an over-arching college funding strategy. This “cobbling together” often leads parents and students signing their name on any accessible funding source without understanding the consequences.  In my experience, “cobbling together” is not a valid way towards creating a successful college funding strategy.

2) Take out a Loan – Really?

The first rule of thumb, which seems to be missed in this article, is that loans MUST be paid back. The second rule is that is missed: you sign it, it is yours.  The thought process to Continue reading

Parents as Teachers

Parents: A Key Player in the College Decision

In every family there comes a time when the child needs to decide which college (post-high school path) to attend. This “college decision” does not take place in a vacuum.  The place where this decision is most often made is “around the kitchen table”. At that time, there are no school counselors available. There are no “college-coaches” around. The recruiters from the colleges are absent as well. This decision is made by the student and their parents. It will be based primarily on two factors Their College Acceptance Letters along with the available financial means.

Many Parents experience their Children’s College Failure

The quality of the college decision varies from household to household. The current statistics show that the quality is not too good. Roughly 40% of students starting at a four-year college will leave that college without a degree within their first six year. At two years colleges, about two-thirds do not earn an associate’s degree or a certificate within the first three years of studies.  I often think parents feel these statistics are “far away” – they happenContinue reading

3 Costly Myths about Planning for College

Don’t Assume College will work out

College is expensive. Most families just don’t realize how expensive it can become. Making college affordable for each of your children begins with avoiding misconceptions. Part of the problem is that many parents believe the following three college preparation myths.

Myth 1: Planning for college “next year” is soon enough

“My child is only in 7th grade; we can start thinking about college preparation in a couple of years.” The first myth is the belief that the college decision will work out just as well when we start “next year” as opposed to starting today.

Time is a very valuable asset in the college preparation process. Many of the individual processes required for a quality college decision – such as career selection – take both and time guidance to maturate. Continue reading

Planning for College

Questions about Planning for College

Planning for our children’s post-high school education is both an exciting and daunting task. As parents, we understand the magnitude of the approaching college decision. Valid questions fill our minds and hearts such as: Will our child pick a good school? Will we be able to afford it? Will our child graduate? Will our child be admitted? Will our child be happy with the chosen major? These are just a few of the concerns we have regarding our child’s college decision.
To have the best results, we as parents must master the two major components of preparing for college.

Planning for College Correctly

Guide your Children towards College Success

The imperative of our time with regards to preparing for college is this: Parents! Guide your children towards college success! Do not leave it up to the Middle and High Schools or so so-called college advisor or coach. Understand this: as parents, you are in the best position to assist your childrenContinue reading

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