Some College Don't Require SAT Scores ..... But!!!!

Although some colleges don't require an SAT score for acceptance don't get too comfortable and think that those scores are not important.  There  appears to be a growing practice by some universities of purchasing lists of students names that have done well on their SAT to focus their marketing activities.  See the link below for some additional insight to the topic.

"Colleges from Bowdoin in Maine to Pitzer in California dropped the SAT entrance exam as a requirement, saying it favors the affluent, penalizes minorities, and doesn't predict academic success. What they don't advertise is that they find future students by buying names of those who do well on the test."

To see this recommendation, click on the link below or cut and paste it into a Web browser:
http://www.boston.com/news/nation/articles/2011/07/20/colleges_drop_sat_but_still_buy_names_of_high_scoring_students/?s_campaign=8315

Cracking the College Wait List

Being Wait Listed is not the end of the world, although it may feel that way it is not!  Many students come off the wait list and go to the college of their choice.  Sometimes a Community College is the answer for a year and re-apply.  There are also ways to improve your chance of getting off the wait list.  Click on this link to see some strategies:     5 Keys to Cracking the College Wait List (TIME.com) 
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Key Essentials Yield Success!
Need-Based Admission - although most colleges won't admit it, institutions may take the family's income and assets into consideration when determining the student's enrollment eligibility. Income and assets most often do not come into consideration at the beginning of the colleges' selection process. If a college's financial aid resources are practically depleted and a questionable student has a financial need, they are often overlooked for a student with lesser financial need and more ability to pay.

Hot Tip ...

To help avoid a need-based admission situation, it is essential to be first in line for both admission as well as funding. 

To better a more informed Parent Call 310-377-0668 to set up an appointment for a Free-Private College Planning Presentation.

Students Who Work During College

A study commissioned by the United States Department of Labor unveiled some startling information.


Part-time campus jobs not only help students make money — they can also help raise grade-point averages. The study, based on hundreds of undergraduates between 1996 and 2004, found that the average GPA of freshmen at four-year universities who worked between one and twenty hours a week was 3.13 versus only 3.04 for kids with no work.

Here are 7 compelling reasons for students to work during college…

Get better grades. The number one thing that the US Department of Labor Study concluded was that college students who work one to twenty hours get better grades. Plus, they have a better chance of graduating.

Help pay for tuition. It is no secret; college costs have skyrocketed over the years. So any additional income students can earn can go right towards tuition, room and board, and any other college expenses that come up.

Gain budgeting skills. Students who work to pay for part of college tuition and fund their entertainment are less likely to overspend on entertainment (versus those who have a parent’s credit card at their disposal.)

Gain time management skills. Part-time jobs force students to budget how they spend their day. Part work, part class time, part study time, and some time for social activities. This is the way the real world works, after all. So, learning to juggle many different activities in one day in college gives your Student a heads up on the rest who don’t gain this experience.

Connect with professors. This could help explain the higher average grades to those students who work part-time… since a lot of on-campus jobs involve working with staff at the university.
Avoid the wrong major or career. Changing careers later in life or even late in college can be a very costly event. By having a part-time job, your student can learn what they do or don’t like… potentially avoiding a costly mistake down the road.

Improve resume. Probably the number one reason to get a college degree is to improve the chances of getting a job after graduation. Working during college is a resume builder — especially if you can get experience in a related field.

But there’s also a dark-side to having your kids work. This same exact study showed that while a little work was good for students, too much work caused a decrease in grades.

Freshmen who worked more than 20 hours a week had GPAs of only 2.95.

Plus, your student’s income is factored heavily into the financial aid formulas. So, an increase in student income could reduce your financial aid package. As with everything in life there must be a balance.


The earlier you start on the College Planning Process the greater the chance of success. Please remember that the environment is very competitive. Many students will be working towards their goal of getting into the best college possible at the lowest possible cost. Our "College Graduate Program" will give you and your family the edge that most students don't have. We have helped over 20,000 students!




Please let me know if you have any questions.


If you have not been through my one hour free consultation and would like to meet, please let me know. If you have been through the free consult and would like to get started, please call or e-mail as well.


Thanks,





Ron Rotenberg
310 - 377-0668 (Office)
(310)377-1831 (FAX)
E-Mail : ron@collegefinancialfunding.com
Website for College Funding Solutions www.collegefinancialfunding.com

25500 Hawthorne Blvd. Suite 2350 Torrance, CA 90505

Recent Changes in Student Loans

When the Health Care Reform bill was passed last year, few people noticed the government changed the way student loans work. Let’s take a look.

Pros
The government has cut out subsidies to private banks making Stafford loans – instead giving out the loans itself. This change saves the government all of that subsidy money, while increasing revenue through receiving interest payments itself. The Obama administration calculated savings at $60 billion over 10 years.

That also means that there should be more money available to give out as grants. The Pell grants are now going to be linked to inflation – so, in a decade’s time, they should be almost 10% larger than they are now.
Loans are also being locked in at lower guaranteed rates – no more than 6.8% going forward. For graduate students, the rate is capped at 7.9% – compared with the 8.5% or even higher at some private banks offered under the previous system.

The government is going to be more flexible when being repaid – no payment plan will exceed 10% of a graduate’s income. In addition, the government is more lenient in accepting applications. The entire system has been simplified. Rather than shop various banks for the best Stafford loan, you simply go to the government, and pay whatever interest rate you qualify for (the needier the student, the lower the interest rate).

Cons

While some banks would aim to get every possible penny, others offered discounts to students. A savvy shopper could sometimes find a great deal. The new program is one-size-fits-all, so there aren’t any deals or discounts available.

The program itself is slightly riskier as well. It used to be that banks and the government would share the risk – true, the government guaranteed 97% of the value of a loan, but the bank still had a share. Now, the government bears full responsibility. That, coupled with more lax standards for loans and lower interest rates for bigger risks, could potentially lead to problems in any sort of financial crisis.

In addition, should a different administration decide to change the rules, there won’t be many alternatives. Again – you can no longer shop banks. You’ve got the one stop – the government.

In all, the majority of students won’t notice a big difference. Hopefully more money will go to students, and less to middle men. At least that’s what they’re saying will happen…

Paying for College

Now this is a hot topic.

Seniors are waiting for their thick or thin envelope in the mail from the college's where they have applied. At this point the parents and students should have a plan on how to pay for college. Some parents started planning many years ago.

There are multiple strategies that can be used, depending on your view point of your student getting financial aid. Financial aid falls into 2 categories - Need Based and Merit Based (aka - Grants and Scholarships). The remainder of funding is filled by Loans, Work Study and EFC (Expected Family Contribution). I am constantly telling my clients that there are many strategies behind getting Financial Aid and the sooner we work on plan the more likely you are to receive aid. In many cases significant Financial Aid can be a reality, if you plan. 

Just completing the Financial Aid Forms (FAFSA and CSS/Profile) without a strategy or plan is like allowing the IRS to complete your taxes. Not a good plan! 

Let's work on a plan.

If you have not been through the one hour free consultation and would like to meet please let me know. If you have been through the free consult and would like to get started please call or e-mail as well.

Click below to view an article from Smart Money of the topic.

5 Weird Ways to Pay for College (Smart Money)

Have you ever wondered what really happens during the college admissions process?

Well you are not alone. Although the process does vary in style and detail given to each student, the bottom line is a decision is being made about your students future.

See how a group of admissions deans weed out applicants and decide which students will attend a top liberal arts college in Iowa and get advice from college admissions expert Jacques Steinberg.

http://www.msnbc.msn.com/id/21134540/vp/41619750#41619750

Don't despair their decision doesn't mean that your student is not a good student or you did a bad job at parenting - it just means that at this time your student is not a fit for their university.

Be an informed parent! Get involved as early as possible in the process. An informed parent usually results in a lower cost for the education.

Hot Tip of the Week

Key Essentials Yield Success!

When compiling a list of schools you are considering, do not eliminate a school because you think it may be too expensive. Private institutions have endowment funds, which are used to attract students they would most like to enroll.

Colleges first distribute the government's money (grants, work-study, and loans) as mandated, and then offer their own funds to the most attractive candidates.

Hot Tip ...

When you start your college search, explore all of your options, regardless of cost.

When all said and done you should apply to at least 6 schools!!!!!

Is College Worth the Time & Money?

The majority of studies that have been done clearly show that going to college will improve your financial situation as well as you social situation. Click here and check out the link to a College Board Report, go to page 9 and see the numbers .

Year after year the studies are done and the results, for the most part, unchanged. In a time of high unemployment having a degree will give you an edge up as well. In fact, most employers today are looking at educational background as a key element in the hiring process.

So, it is most definitely worth the energy and cost to get a College Education!

So you have the time but the big question is do you (or should I say your parents) have the money to attend college?

Answer - there are many options Grants (Free Money) as being the best option but in most cases there will be Loans, Work Study Program and your parents EFC (Expected Family Contribution).

The big question is will you get into the best college at the lowest possible cost?

The guidelines that your High School College Counselor are great but may fall short of accomplishing the task at hand .... feel free to give me a call and we can set up a free 1 hour consultation so that I can show you how to get the edge with our "College Graduate Program".

Once again, is it "Worth the Time and Money" for the visit with me? First the visit is FREE and is only an hour. If at the end of the hour you still feel that you would like to go at this complicated process on your own, I will wish you Good Luck. If you see the value (I am confident that you will) then the real focused fun starts on getting you into the best college at the lowest possible cost.