Is College Worth It?

Not too long ago, the Pew Research Center found that a majority of Americans (57 percent) believe the higher education system in the United States “fails to provide students with good value for the money they and their families spend."

It's making quite the stir, even reaching all the way to pundits and panelists on NPR and CNN.  For the first time people are publicly asking a question I once believed unthinkable: Is college worth the cost? Of course, I want to weigh in. And what I really want to say is an emphatic YES!  But I can't, because it's not always...

If you finance your entire education investment with debt, you are not going to get the best return on that investment.  For the first time ever last year, student debt topped consumer credit card debt, and just last month The New York Times reported that college debt may hit a trillion dollars this year. Not good. Not good at all. I abhor the slippery slope that excessive debt creates for our children and I've been warning my clients of a looming student loan bubble that could make the mortgage meltdown seem quaint.

So rather than ask whether college is worth the cost, I offer this instead:  Make College Worth The Cost!

With proper admissions and financial planning at the outset, you can help your children get into great schools that won't require mortgaging their future or sacrificing yours. Pew wasn't the only report on college that came out recently. In a new study from the National Association of College and University Business Officers (the guys that actually set and then discount college prices), it was revealed that nearly 88 percent of first-time, full-time undergraduates received institutional grants (free money) in the form of 'discounts' in 2010.  That's a jump of about 5 percentage points from 2007 and 10 percentage points from 2001.  Of note as well: only about 71 percent of that 'aid' was given to students who demonstrated financial need, which means 29 percent of that money was awarded on non-need criteria to students who demonstrated value to the institution. I'm not talking about a little bit either. Most of our graduating seniors whom we helped demonstrate need, value, and desire, received significant offers ($14K - $40K+) from great schools such as Boston College, BU, Bentley, Babson, and Providence College.

This is important for a few reasons.

1. The right college at the right price is definitely worth the investment. Last year, when national unemployment was around 11%, it was only 4.5% (full employment) for college graduates 25 and over!  And in the aggregate, college graduates still out-earn non-graduates by about $1.2 million over the course of a lifetime.

2. College is within your reach, but to find and get into the right college at the right price, you have to plan early and have a family-centric, integrated admissions strategy. Consider: how much financial need you'll be able to demonstrate; which colleges are likely to meet that need; where your student might have leverage (value); and how to demonstrate that value to the 'recruiters' of those schools!

3. College is not 13th grade!  Too many students enter college without a plan, without a vision for their academic or professional future. The investment is more worthwhile if students bring a sense of commitment to the campus. The 4 year vacation (or 5+ years) with football and basketball season tickets is the wrong formula for a positive college ROI.  That's why this is a 'family' process; it's not just about the student and not just about the money.

There are some great resources and tools out there including a new college ROI calculator at www.payscale.com, but the best place to start is to determine where your student might want to go and compare that list with schools they are likely to get into. Then, determine how much those colleges 'cost' versus how much you're actually going to have to pay to go there! Those may be two different numbers, so make sure to research resources such as the Smart Track™ Toolkit to help you plan for all scenarios. If you happen to be in the Boston area, check out our upcoming public workshops on www.OurCollegePlan.com, where we discuss this information and more.

~ Murray Miller, President & CEO

5 Things I Wish I’d Known About JOBS When I Started College

At Grockit, we’re all about education and getting you ready to move on to the next stage in your life.  But we’re not just teachers; we’re all former and/or current students, too, and we’ve got more than just test preparation tips to share with you!

Part-time employment and college go together like cheese and crackers; they’re a natural complement.  And as a student, I was no stranger to part-time work-- in fact, I usually had multiple jobs at the same time, doing everything from making balloon bouquets to offering tech support in campus computer labs.  Read on to learn a few tips about employment that I picked up through trial and error!

            1.         Money matters, but you’re in school, so your studies should be your first priority.  Try to find a job that understands the unique scheduling needs of a student.  You want to work somewhere that will allow you some flexibility during exams and other busy times.  These jobs may pay a little less, but they’re worth it in the long run.

            2.         Another perk to look for in student employment is downtime.  Many jobs, particularly on campus, will have time for you to study.  Some that I found were night receptionist in my dorm, computer lab monitor, and parking garage attendant; these jobs let you double-dip by making money AND getting some of your homework out of the way, leaving more time for extracurricular fun!

            3.         Don’t forget about internships-- sometimes working for free is a great investment.  The most interesting jobs often don’t pay anything at all, but they can lead to amazing paid opportunities or to valuable additions to your professional network.

            4.         A part-time job can be a great chance to explore something outside your usual academic sphere.  If you’ve always wanted to know more about urban planning but you don’t have room for it in your course schedule, check to see if there’s an opening in the departmental library, or a professor looking for some research help.

            5.         If you can get a work-study award, it’s an enormous help in finding student employment. In the U.S., work-study programs provide government funds to pay part of your wages for eligible jobs, and that makes you a very affordable employee—take this advantage if it’s offered to you!

Have you had to learn any lessons about college jobs the hard way?  Share them in the comments!

About Grockit: Grockit is a fun and engaging learning community that encourages students to learn from group study, game play, expert tutorials and solo study. Students that prepare with Grockit have proven to achieve higher scores on college admissions tests.

About the author: Andrea Alexander is a current graduate student in the School of Information at the University of Michigan. She's been teaching test prep for about eight years and have picked up lots of helpful knowledge along the way. She specializes in the verbal aspects of test prep, since her education and career experience as an attorney, freelance writer, and editor have given her the background for that.

Surviving the Transition from High School to College: Strategies for Success

At College Planning Strategies, LLC we understand how different high school and college really are, but many students don’t realize this until a few weeks into their freshman year.  The following are a few Strategies for Success that we share with our seniors.

1.      Make your courses count: In college there will be a lot of pre-requisite courses and many requirements to fill. If you can take one class that will count for multiple requirements, that’s the way to go. For example, an African American Literature class may count for both an English requirement and a Global Education requirement. 

2.      Declare your major by junior year:  As an underclassman, you will spend most of your time on general ed. requirements.  This is a good way for you to experience other classes and hone in on a particular major. If you are still undecided, visit the career services department.  They will help you explore career paths and your options.

3.      Contact professors to be admitted:  If you’re registering for a course and suddenly realize it’s full, you may need to contact the professor. Usually professors have the authority to add you into a class even if it’s full. You can do this by sending an e-mail or visiting the professor during office hours.

4.      Start studying early:  If you know a particular class or professor is going to be difficult, start studying early! This way, you’ll avoid some stress down the road as well as some potential all-nighters.

5.      Mix easy and hard courses:  Try to be cognizant about scheduling a balance of easy and hard courses each semester.  It might be tempting to fill your schedule with four or five really easy courses, but next semester is likely to be an absolute nightmare.

6.      Think about academic strengths and weaknesses:  By now I would hope that you know a little bit about yourself and how you learn. You should know what you’re good at and what your weaknesses are, so try to choose courses based on these strengths and weaknesses.  If you are not strong in writing, don’t take a course where you are only evaluated based only on 3 papers you write during the semester.

7.      Stay on top of the registration process:  The registration process at some schools can be a nightmare, so plan for this in advance. You need to make sure that you stay on top of all deadlines and have back-up classes in case the ones you are trying to get into are full.  Make sure that there are no time conflicts, and make sure to see which courses are only offered in the fall or only in the spring.

8.      Check in with your advisor each semester:  I can’t stress this enough.  Your advisor is there to help you stay on track, graduate on time, and answer your questions. They are a very valuable resource for you, so make sure that you check in at least once a semester.

9.      Find a study-buddy: You’ll want to find at least one classmate who you can trade contact info with.  This way if case you miss a class, you will have someone you can contact to find out what happened. Doing homework with someone else can also be a great motivator for getting your work completed, especially if the homework is particularly difficult.

I hope that these tips will help you recent high school graduates in making a plan to stay on track in college.  For current college students or college grads, what worked well for you?  If you have any additional tips for incoming freshman, share them in the comments!

About Smart Track™ Toolkit: The toolkit is a web based service that assists families with everything from admissions and test prep, to student athletics and financial aid. Our intuitive software and on-demand workshops are key components to making sure students find their top choice colleges, and families can afford to send them there.

About the author: Laura Guarino is the Student Services Coordinator with College Planning Strategies, LLC. Laura has a degree in Human Development from Boston College and is currently pursuing a Master’s degree in School Guidance Counseling.  She is also enrolled in a certificate program in College Admissions Counseling.  Laura is at the forefront of the college admissions process for the families of CPS and The Smart Track™ Toolkit.

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5 Things I Wish I’d Known About PICKING COURSES When I Started College

At Grockit, we’re all about education and getting you ready to move on to the next stage in your life.  But we’re not just teachers; we’re all former and/or current students, too, and we’ve got more than just test preparation tips to share with you!

By the end of my freshman year in college, I had already changed my major twice, and as a result, I picked up a lot of random knowledge about different kinds of classes across several disciplines.  Read on to learn the easy way from a few lessons I got the hard way!

1. Two words: PASS/FAIL.  Don’t overuse this option—it looks lazy on your transcript if you’ve taken tons of pass/fail courses—but if it’s available to you, take advantage of it when its appropriate.  Talk to your advisor if you’re not sure how it works.  There’s no better way for a liberal arts scholar to explore astrophysics, or for an engineering student to learn about Chaucer, than by doing it pass/fail.  Once the grade pressure is off, the learning pleasure can really kick in, and you might discover a new academic passion!
2. Start with your foundation courses, then move on to the specialized ones later.  You might change your mind a few times about what you want to major in, and if you’ve taken a bunch of English courses before deciding that you REALLY want to be a math major, you might not be able to use all of those credits.  Try to get your general ed requirements out of the way at the beginning; those credits will usually be good no matter what major you end up pursuing.
3. Often, credits will transfer from another institution but the grade won’t—make the most of this!  If you’re worried about what getting a C in that dreaded foundation course will do to your GPA, try taking it during the summer at a community college and transferring the credit to your university later.  Of course, see an advisor to make sure that the credit will transfer and will fulfill your requirement, but with a little planning you can save some yourself both money and stress this way; this is a particularly popular option for math-haters who have to take a basic course in the subject to graduate.
4. The rule of thumb is that each credit hour of class will translate to about 3 hours of homework.  You should be prepared to spend 9 hours each week prepping for a 3 credit class, so don’t overload yourself by taking more credits than you can handle the out-of-class responsibilities for.
5. Learn a little about the professor before signing up for the class, if you can.  Do some research online or ask upperclassmen.  A great professor can make a boring subject captivating; this also goes the other way.  Don’t pick a course just for the topic—try to learn from professors who interest you, too.

What kinds of things have you learned about picking courses, and what do you wish you knew?  Share it in the comments!

About Grockit: Grockit is a fun and engaging learning community that encourages students to learn from group study, game play, expert tutorials and solo study. Students that prepare with Grockit have proven to achieve higher scores on college admissions tests. 

About the author: Andrea Alexander is a current graduate student in the School of Information at the University of Michigan. She's been teaching test prep for about eight years and have picked up lots of helpful knowledge along the way. She specializes in the verbal aspects of test prep, since her education and career experience as an attorney, freelance writer, and editor have given her the background for that.