1. education
2. graduate school
3. college

HOW TO SEND
YOUR CHILD
(or Grandkids)
To College
Without Going Broke
www.InvestinyourDebt.com
Created by: Invest In Your Debt, Inc.
1
HOW TO SEND YOUR CHILD (or Grandkids) TO
COLLEGE WITHOUT GOING BROKE
First Edition
Copyright 2007 All Rights Reserved
First Printing 2007
No part of this book may be reproduced or used in any form or by any means
–graphic, electronic or mechanical, recording or photocopying, or
information storage or retrieval system –without written permission from
the publisher.
It is recommended that the reader rely on his or her own judgment and
experience as he or she utilizes any of the ideas, techniques, or suggestions
contained in this book.
This book is designed to provide accurate and authoritative information in
regard to the subject matter covered. It is sold with the understanding that
the publisher and author are not engaged in rendering legal or accounting
services or advice. If legal, accounting or other expert assistance is required,
the services of a competent professional should be sought.
Published by IYD, Inc.
[email protected]
888-913-8786
Created by: Invest In Your Debt, Inc.
2
HOW TO SEND YOUR CHILD (or Grandkid) TO
COLLEGE WITHOUT GOING BROKE
Table of Contents……………………………………………………….…………….
3
WhatCol
l
e
ge
sDon’
tTell You!....................................................................................4
Career Search Navigator……………………………………………….…………….7
ACT/SAT Test Prep Navigator…………………………………………………….
.
17
College Selection Navigator…………………………………………………………24
College Visitation Navigator…………………………………………………….….
.
28
Admissions Navigator………………………………………………………….…….
36
Scholarship Search Navigator……………………………………………….………45
The EFC Navigator…………………………………………………………….…….
51
Financial Aid Form Navigator……………………………………………….…….
.
56
The Appeals Navigator……………………………………………………….…….
.
64
Appe
ndi
xA…Col
l
e
geCal
e
ndar
…………………………………………….…….
.
77
Appe
ndi
xB…Col
l
e
geTe
r
mi
nol
ogy………………………………………….…….
82
Created by: Invest In Your Debt, Inc.
3
Wha
tCol
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sDon’
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lYou!
College Terminology You May Never Hear
These are words and phrases that college officials use when they talk to each other, or to
officials from other colleges. They try their best not to use these terms around the family,
but you need to be aware of this college terminology.
Admit-Deny
This describes the process of setting priorities on students who have been accepted to a
college. Assume a college is attempting to admit 500 freshmen. Each year, about onethird of the freshmen students a college accepts, eventually enroll. So each year it must
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st
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500t
ha
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vebe
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n
accepted, it uses financial aid packages to try to entice the 500 it wants most.
The most attractive students get the most generous money offers. The bottom one-third
includes some students who cannot afford that particular college without financial aid.
They have been admitted, yet denied admission because they were not offered enough
money to be able to enroll.
Application Score
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record of how the thousands of applications they receive each year compare to each
other. Each college has its own scoring system. Some use a numbered scale, say 1-6.
Others use letter grades, such as A-E. The important thing to remember is that colleges
do keep score. Each component of an application gets its own rating. Then the scores
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applications go to the admissions committee for a decision.
Bidding War
A bidding war is similar to trying to get the best deal when you buy a new car. Your best
financial award offer is presented to another college to see if it can do better. Financial
aid office
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good students are in such high demand, this strategy often works.
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4
Building a Class
Building a class is a term used for maintaining diversity in the student body. The
diversity can take many forms –racial, ethnic, geographic, and economic –depending on
ac
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-balance policy that
states that neither sex can be more than 52 percent of the student body.
As the final decisions are made, these policies and priorities come into play. The
freshman class is built to reflect them. Decisions sometimes are made, reversed, and then
reversed again to build the proper class.
Buying Freshmen
Similar to the admit-deny policy, a college often gives its best financial aid package to
t
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comes as an accusation from officials of other colleges that a particular competitor is
buying freshmen.
Financial Aid Leveraging
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applicants. The goal is to maximize the financial aid dollar and admit larger numbers of
students with the same dollars.
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academic merit and financial need. For each group, the school determines, by policy,
how much total aid is available to award. So, a student with above average academic
ability and medium need might receive $5000 in gift-aid and $3,000 in loans. On the
other hand, a student with simply average academics, but low need would receive $6,000
in gift-aid. The university goal is to increase the number of low-need students, and
spread wider the available financial aid dollars.
As a result, a student with lower academics can receive more gift-aid than other
applicants who have higher academic ratings.
Flag
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.
Children of alumni get flags. Students with special talents get flags. Under-represented
minorities get flags. A flagged application is removed from the common pool and
considered separately.
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5
Gender Balance
Many colleges try to achieve a balance between male and female students.The
ydon’
t
want a majority of either males or females. Some admission offices work under rules that
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om t
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of the student body.
Legacy Rating
Chi
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.The
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admission office because of their parents. The size of the advantage usually is
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.Applicants with the highest
legacy ratings often are admitted without regard to the rest of their application.
Need-Based (Need-Blind) Admissions
The use of money as a factor in admissions is referred to as need-based admission, needblind admission, or more accurately, need-based denial admissions.
Many colleges say they do it. Colleges attempt to maximize the return on their
e
ndowme
ntf
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financial need do not make it.
Preferential Packaging
Preferential packaging is a more polite term for buying freshmen. The students who are
most attractive to a college get the best financial aid package, or more grants and free
money and less loans and work-study. Preferential Packaging could also take the form of
a large discount off the sticker price, or giving mor
ea
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d.
In a survey by the National Association of College Admission Counselors, 54 percent of
the colleges that responded say they use preferential packaging.
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6
Career Search Navigator
The Purpose
Choosing a career path is one of the most important decisions that students face today.
Lack of planning forces many students into a 5 or 6 year college degree. Many students
receive degrees in declining-growth fields or fields with a surplus of applicants, and cannot
find employment after graduation. A wise choice in career can lead to rewarding
occupational experiences, opportunity for personal growth and the security of adequate
income. It will also allow the family to maximize the educational investment in the student.
What You Will Do In this Section
1. Conduct your own Personalized Career Assessment to analyze potential career paths and
match those career paths with possible fields of study in college
2. Re
vi
e
w“
TheTop100Ca
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r
sf
ort
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3. Re
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.
4. Gather specific information from additional outside sources for further research into potential
career path.
5. Conduct interviews with professionals in your prospective field(s) of interest to pinpoint the
positive and negative aspects of your potential career path.
6. Prioritize your career sections.
What You Can Expect to Accomplish!
Successful completion of 1 through 6 will allow you to:
Conduct a successful professional career analysis.
Narrow your college selection to relevant schools.
Maximize your likelihood of career satisfaction once a school is selected.
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7
1 Planning Your Career or Field of Interest
Prior to entering college, every student should complete a personal career interest
inventory assessment and conduct a thorough research into possible fields of interest. As
with most endeavors in life, success comes to those who work hard and are persistent.
The following are suggested sources for career interest inventory tests:
Suggested Sources of Career Interest Inventory Tests
1. Your High School Guidance Counselor
2. The Holland Self-Directed Career Search www.self-directed-search.com
However, the suggested fields of interest obtained from these tests are just focal points.
Do not consider these areas of interest to be complete, or restrict you from further
research into the career list provided. As time goes on, you may also wish to expand to
narrow your list. Your first year in college will expose you to many new ideas that may
not be presently apparent.
While you may have already considered a few of the suggested occupations, others may
be entirely new to you. A little hard work and persistence in researching your options
will open new horizons.
Here are some suggestions to help you along the way:
Step 1 –Call a professional in each of the fields you find of interest and request an
interview. Explain that you are very interested in this particular field and before you
de
c
i
det
oma
kea“
l
e
a
poff
a
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t
h”i
nt
ot
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ory
ouwoul
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a
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of this field. Use the questions in Section 5 of the following pages for this exercise.
Most professionals will consider the above request as a smart move on your part and
welcome your assertiveness. This is an extremely important step in your decision making
effort. Fifty-three percent of the people in the U.S. are not happy with in their present
oc
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l
ywi
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lnotr
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c
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i
ve
!
Step 2 –You can go online and do a search on Dictionary of Occupation Titles (DOT).
This publication describes thousands of career fields along with the attributes considered
as essential for job performance.
Research the various occupations under the listings. This will provide you with a basic
idea of t
hej
ob“
s
pe
c
i
f
i
c
a
t
i
ons
”
.Whi
l
ea
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lt
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a
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,or
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i
ona
nd
time, the results will move you in a more solid and focused direction toward your desired
career path.
Created by: Invest In Your Debt, Inc.
8
2 “TheTop100Careersf
ort
heNe
xtDe
c
ade
”
01 Web Site Manager
02. Actuary
03. Comp. Sys. Analysist
04. Software Engineer
05. Mathematician
06. Computer Programmer
07. Accountant
08. Industrial Engineer
09. Hospital Admin.
10. Web Developer
11. Paralegal Assistant
12. Parole Officer
13. Meteorologist
14. Technical Writer
15. Medical Secretary
16. Medical Technologist
17. Financial Planner
18. Medical Lab Tech.
19. Astronomer
20. Historian
21. Postal Inspector
22. Dental Hygienist
23. Biologist
24. Insurance Underwriter
25. Sociologist
26. Urban/Regional Planner
27. Physiologist
28. Bank Officer
29. Broadcast Tech
30. Agency Director
31. Dental Lab Tech
32. Statistician
33. Motion Pic. Editor
34. Audiologist
35.
36.
37.
38.
39.
40.
41.
42.
43.
44.
45.
46.
47.
48.
49.
50.
51.
52.
53.
54.
55.
56.
57.
58.
59.
60.
61.
62.
63.
64.
65.
66.
67.
68.
Industrial Engineer
69. Tax examiner/collector
Nuclear Engineer
70. Civil Engineer
Vocational Counselor 71. Mkt. Research Analysist
Computer Svs. Tech.
72. Personnel Recruiter
Optometrist
73. Newscaster
Medical Records Tech. 74. Military Officer
Dietitian
75. Advertising Acct. Exec.
Physicist
76. Optician
Political Scientist
77. Architectural Drafter
Federal Judge
78. Musical Instru. Repairer
Mechanical Engineer
79. Engineering Technician
Speech Pathologist
80. Flight Attendant
Pharmacist
81. Computer Consultant
Occupational Therapist 82. G.P. Physician
Publication Editor
83. Jeweler
Economist
84. School Principal
Protestant Minister
85. Agricultural Scientist
Aerospace Engineer
86. Dentist
Philosopher
87. Cashier
Electrical Engineer
88. Symphony Conductor
Purchasing Agent
89. Computer Operator
Chiropractor
90. Public Relations Exec.
Geologist
91. Zoologist
Psychologist
92. Bookbinder
Podiatrist
93. Archeologist
Attorney
94. Stenographer
Electrical Tech.
95. Sr. Corp. Exec.
Oceanographer
96. Antique Dealer
Tele/Radio News writer 97. Military/Warrant Officer
Chemist
98. Respiratory Therapist
Physical Therapist
99. Typist/Wood Processor
Petroleum Engineer
100. Airplane Pilot
Executive Search Consult
Anthropologist
**Ranking based on outlook, environment, stress, security, physical demands and
income.
Source: Kranz, Les, The Jobs Related Almanac
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9
3 “TheTopCol
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geMaj
or
sf
ort
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xtDe
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ade
”
1) Business Administration and Management. Saving up your allowance instead of
blowing it each week. Starting your own lawn-mowing business when you were still in
grade school. They always said you had a mind for business, and now you're ready to
prove it. Business majors often find success in the field of their choice, working their way
up the ladder to become managers, executives, and vice presidents in their companies.
This major offers focused training in accounting, finance, marketing, economics, human
resources, and decision making. You'll learn to budget, organize, plan, hire, direct,
control, and manage an organization. And you'll find even more chances for career
growth if you go on to earn your MBA.
2) Psychology. Psychology is the study of the way humans and animals interact and
respond to their environment; in essence, it's the study of behavior and the thoughts
behind it. Cool thing about this major: analyzing your friends and family. Not so cool
thing: you almost have to go to grad school to do anything at all related to this line of
work. Which is perfectly fine, if you understand and commit to that path from the get-go.
Just don't expect that four years of college will get you a private practice where people lie
on a couch and tell you their troubles for $95/hour. You'll need an extra five to seven
years of schooling and a Ph.D. or Psy.D. before that will happen.
3) Elementary Education. From tracing a little hand on colored paper to making a
Thanksgiving turkey to taking a field trip to the local science center with your fourthgraders to learn about static electricity, you are excited about working in a grade school
and shaping young minds before they develop the attitude. In the early grades, you are
responsible for giving instruction in all the basic subjects (reading, writing, 'rithmetic—
plus science, social studies, and the basics of health and physical education), as well as
overseeing the general development of each of your charges. Some college programs
offer (or require) an area of specialization, such as early childhood, language arts, or
mathematics. When your academic work is complete, you move into the classroom for
the trial-by-fire known as student teaching. This practicum lasts from one semester to a
full academic year. When you successfully complete the elementary education program,
you'll have to take any certification examinations required by the state in which you want
to work. Then, it's into the classroom to mold the minds of our youth.
4) Biology. Biology majors focus on the living world—that's everything from single-cell
bacteria to whales. You may take classes in which you learn about calculus,
microbiology, cell biology, genetics, evolution, physics, and organic chemistry. In
addition to being a stepping stone for med school, biology major can lead to a job in a
growing field such as genetics, biotechnology, or medical research. Veterinarians,
optometrists, ecologists, biochemists, and environmentalists all may have majored in
biology.
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10
5) Nursing. Everyone knows it takes a special kind of compassionate individual to
become a nurse, a profession that often includes playing the roles of comforter, educator,
mediator, listener, problem-solver and therapist. Generally, nurses help people meet basic
health needs, adapt to physical changes, recover from illness, and die with dignity. They
are employed in clinics, hospitals, schools, corporations, the military, and in private
practice. We need nurses now more than ever, and job prospects in this field are bright. If
you major in nursing, you'll take traditional science and liberal arts courses as a first-year
student and probably begin clinical rotations at hospitals and other health care facilities
during the second semester of your sophomore year. While in school, you'll receive lots
of practical, hands-on training. All would-be nurses are required by law to take and pass
the National Council Licensure Examination for Registered Nurses (NCLEX-RN) after
graduating from an accredited nursing program before they can be considered
"registered."
6) Education. "Summers off" is hopefully not the main reason you'd like to become a
teacher. Many teachers actually spend their summers at a second, seasonal job (like at a
children's camp) to supplement their income, volunteering or doing some form of
community service work, or working hard on next year's lessons plans. That said, lots of
teachers wouldn't dream of doing anything else. Although much of your coursework will
be general education material, most states require you to choose a specific grade level
you'd like to teach. Choices usually include some variation of early childhood education
(preschool), primary education (kindergarten through eighth grade, see #3 above), and
secondary education (ninth through twelfth grade). Some education majors choose to
specialize in special education. Your student teaching experience, in which you spend a
semester or more in gaining practical experience in a classroom, will be in the field of
your choice. Education majors may also go on to become guidance counselors, school
administrators, and the like.
7) English. You'll find English majors in countless types of jobs. Many of them are
communications-based careers as you'd expect—author, reporter, journalist, editor, radio
broadcaster, advertising and public relations executives—but plenty of them aren't that
obvious. English majors also become teachers, lawyers (after law school, of course), film
directors, politicians, actors, you name it. English majors become well-rounded, wellread individuals who have studied life in words across the globe. Be prepared to read,
think, write, discuss, and then read a whole lot more.
8) Communications. A graduation speech, an infomercial, a protest in the park: any of
these are great material for a communications major who needs to write a paper. In this
program, students learn how certain messages influence individual and group behavior,
as well as how our reactions reflect the underlying values of society. You'll spend a
significant amount of time studying different kinds of speaking and writing and the
strategies people use to make their points and drive them home. You'll take a look at
verbal and nonverbal messages, audience reaction, and the varied effects of different
communication environments. Communication theory will play a part too, as you delve
into monumental speeches, revolutionary political campaigns, radical social movements,
and the trends in news reporting. With your degree, you may choose to pursue a career in
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11
business, public relations, advertising, human resources, government, education, media,
or social services.
9) Computer Science. Your friends are always coming to you for help when they
experience computer problems, and you know it's high time you got paid for your efforts.
Solution: obtain a degree in computer science. In this program, you'll focus on how
computer technology can be applied to any number of fields. Included will be classes on
how to develop business applications and perform system analysis and the process of
developing software (from designing to programming to testing). Programs may also
include instruction in robotics, natural language recognition programs, artificial
intelligence, programming languages, and numerical analysis. The knowledge you gain
from a Computer Science major is absolutely applicable to the real world, and to real jobs
within it.
10) Political Science. This major breaks down everything from political parties to voting
behavior to public policy to revolutions all across the world. It's a pretty broad subject
involving heavy doses of reading, writing, and statistical analysis. Many schools will
want you to choose a concentration. Post-graduation options include: politics (running as
a candidate or running a candidate's campaign), journalist, diplomat, lobbyist, and, of
course, law school.
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12
4 Conducting Further Research Into Career Paths
The difficulty in choosing a career is that it often requires making a considerable
commitment in time and expense in educating and training yourself to prepare for that
career, prior to working in the field. Millions of people have paid for four or more years
of college, only to find that the field they trained for does not provide them with mental,
physical or monetary benefit. However, having made the investment in time and money,
they feel obligated to continue.
Some students decide to change their major or career interest after one or two years and
since many of their college credits cannot be applied to their new major, they must spend
five or six years in additional time and money to achieve a four-year degree.
Gi
ve
nt
oda
y
’
shi
g
hc
ol
l
e
g
ec
os
te
nvi
r
onme
nt
,y
ouc
a
nnotha
vetoo much information, or
spend too much time researching, to properly plan and prepare for their career field. In
addition to the information you receive with the Career Search Navigator report, you
should also gather additional information through independent research and sources.
You should consider discussing your prospective interests with a counselor from your
high school guidance department. You should also read business publications or trade
and professional journals associated with your career to learn about the latest news and
trends within the field or industry. Look for indications as to whether the field is
expanding or experiencing a decline.
Other resources to consider for further research into your Career/Major Interest(s) are:
College to Career on the web www.collegetocareer.net
Need a Lift? Published and produced by the American Legion, you can also view it on
the American Legion website by doing a search on “
need a lift”
.
Occupational Outlook Handbook, U.S. Department of Labor: U.S. Govt. Printing
Office or on the web www.bls.gov/oco/
Make copies of the following page so that you can take it to each interview.
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13
5. Questions to Ask Someone with Experience in Your Chosen
Career or Field of Interest
An excellent way to learn more about an occupation is to talk with various people in that
particular field. You can secure interviews with experienced people by calling them,
introducing yourself, then explaining that you wish to seek a first hand opinion as to the
benefits of their job or profession. Here is a list of suggested questions to ask these
professions:
Mr/Ms:__________________________________Telephone No:__________________
Occupation:___________________________ Company:_________________________
How long have you been in this field?
Why did you decide to work in this field?
How did you get your first job in this field?
How has this field changed since your first job?
Do you know what the future outlook is for this field?
How competitive is this field?
*continued on next page*
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14
What do you like about your occupation?
What do you dislike about your occupation?
What are your primary duties during a typical day?
What kinds of education or training are required in this occupation?
What are the entry-level salary and benefits in this occupation?
What are the expected salary and benefits in this occupation after ten years?
What are the chances of advancement in this occupation?
What additional training or education is needed for advancement?
Where else can I look for information pertaining to this career?
Additional Question:
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15
6 Ranking Your Career/College Major Interests
List as Many as three career paths or objectives that you wish to pursue. Rank them in
order beginning with your top choice. Use the results to determine your Career/College
Major Interest when completing the College Selection Navigator.
1.___________________________________
2.___________________________________
3.___________________________________
List the factors that interest you in each of your career choices.
1.__________________________________
_________________________________
__________________________________
2.__________________________________
_________________________________
_________________________________
3.__________________________________
_________________________________
_________________________________
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16
ACT/SAT Test Prep Navigator
The Purpose
“
St
a
nda
r
di
z
e
dTe
s
t
s
”a
r
et
hemos
ti
mpor
t
a
nt(
a
ndf
e
a
r
e
d)t
e
s
t
st
ha
tac
ol
l
e
ge
-bound
student faces because they figure so heavily in the acceptance to the college of their
choice. Whether these tests demonstrate true aptitude for college success is the subject of
much debate. However, many students who have achieved high scores have had the
privilege of advanced tutoring from the services of a costly, private test preparation firm.
This section will acquaint you with the college standardized tests, inform you of biases
that are inherent in the ACT and SAT, and provide you with the means to complete your
own comprehensive analysis of the infamous SAT test.
What You Will Do In this Section!
1. Re
vi
e
wt
hef
ourba
s
i
c“
St
a
nda
r
di
z
e
dTe
s
t
s
”a
ndt
he
i
rr
e
qui
r
e
me
nt
st
ounde
r
s
t
a
nd
the application and importance of each for college admissions.
2. Review the charts in this SAT analysis to understand the various performance
gaps from past SAT examinations, and the importance of proper test preparation.
3. Review the six essential steps used for proper ACT/SAT test preparation.
What You Can Expect to Accomplish!
Successful completion of 1 through 3 will allow you to:
♦Dr
a
ma
t
i
c
a
l
l
yi
mpr
ovey
ourACT/
SATt
e
s
ts
c
or
e
s
.
♦I
nc
r
e
a
s
eoppor
t
uni
t
yt
obea
dmi
t
t
e
dt
oy
ourc
ol
l
e
g
eofc
hoi
c
e
Created by: Invest In Your Debt, Inc.
17
1 What are standardized Tests and Their Requirements
Students preparing to go to college should be aware that most schools have an
entrance requirement of one (or more) standardized test(s) in order to qualify for
admissions. Each college has its own specific policy as to which test(s) are required.
The major tests are:
Preliminary Scholastic Aptitude Test (PSAT)
ThePSATme
a
s
ur
e
sde
ve
l
ope
dma
t
he
ma
t
i
c
a
la
ndve
r
ba
lr
e
a
s
oni
nga
bi
l
i
t
i
e
s
important for academic performance in college.
I
ta
s
s
e
s
s
e
st
hea
bi
l
i
t
yt
or
e
a
s
o
nwi
t
hf
a
c
t
sa
ndc
onc
e
pt
s
,r
a
t
he
rt
ha
nt
hea
bi
l
i
t
yt
o
recall and recite them.
I
ta
l
l
owss
ophomor
e
s and juniors to practice for the SAT test, while simultaneously
competing for the National Merit Scholarships.
American College Test (ACT)
TheACTi
saf
our
-part, two hour and forty minute test measuring skills in English,
Math, Natural Sciences and Social Studies, and a twenty-five minute Profile Section
indicating grades, background and achievements.
TheACTs
houl
dbet
a
ke
na
tt
hee
ndoft
hes
t
ude
nt
’
sj
uni
ory
e
a
ra
nd/
ore
a
r
l
yi
nt
he
senior year in order to meet the deadlines of many college scholarship programs.
Scholastic Aptitude Test (SAT I)
TheSATi
sat
hr
e
e
-part, three hour test measuring the ability to communicate and
reason with words and abstract concepts in Math, Verbal and Standard Written
English.
TheSATs
houl
dbet
a
ke
na
tt
hee
ndoft
hes
t
ude
nt
’
sj
uni
ory
e
a
ra
nd/
ore
a
r
l
yi
nt
he
senior year to maximize the possible score and be considered for admissions at many
competitive colleges.
TheSATi
st
hemos
twi
de
l
yt
a
ke
nc
ol
l
e
ges
t
a
nda
r
di
z
e
dt
e
s
t
.
TheSATi
st
hee
a
s
i
e
s
toft
het
wo aptitude tests (SAT/ACT) to prepare an advanced
game plan to achieve the highest possible score.
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18
Scholastic Aptitude (Subject) Tests (SATII)
TheSATI
It
e
s
t
sa
r
eoneho
u
re
xa
mi
na
t
i
ons
,t
a
ke
ni
nt
hes
e
ni
ory
e
a
r
,whi
c
h
measure achievement in specific subject areas that are required by certain competitive
colleges.
REMEMBER: Check with your Guidance Department for registration dates
and deadlines.
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19
2 The Six Essential Steps to Maximize Your Scores
The SAT is the easiest of the two aptitude tests (ACT/SAT) to prepare for in advance.
However, there are six essential steps that a student can take to properly prepare for both
the ACT and SAT tests. Following these simple steps is the easiest way to guarantee the
highest possible score.
1. Get a real ACT/SAT test from your guidance office and become familiar with the
procedures.
►howi
tl
ooks
/
wha
ti
tc
ons
i
s
t
sof
►assure that there are no surprises
2. Take the practice ACT/SAT test using official timing procedure to achieve an
accurate result.
►bes
ur
et
oobtain a real test
►bes
ur
et
ous
eof
f
i
c
i
a
lt
i
mel
i
mi
t
s
.
3. Diagnose your weakest skills.
►pi
npoi
ntpr
obl
e
ma
r
e
a
s
►a
na
l
y
z
ewe
a
ke
s
ta
r
e
a
so
fknowl
e
dg
e
4. Review your weak math skills.
►c
ompl
e
t
ea
ddi
t
i
ona
lpr
obl
e
msin your weak math areas
5. Review your weak verbal skills.
►c
ompl
e
t
ea
ddi
t
i
ona
lpr
obl
e
msi
ny
ourwe
a
kve
r
ba
la
r
e
a
s
6. Rework the wrong answers on your original sample test.
►r
e
c
og
ni
z
et
heor
i
g
i
na
le
r
r
or
sa
ndunde
r
s
t
a
ndwhyt
he
ywe
r
ema
de
►r
e
me
dyt
hee
r
r
or
swi
t
hi
mpr
ove
ds
ki
l
l
s
Following these practice steps, prepare to take both the ACT and SAT tests twice; once,
as a high school junior, and once as a senior. This will ensure you the highest possible
score.
SPECIAL NOTE: Regardless of the number of times you take the SAT test, the
highest scores of each section (Math/Verbal) are used to achieve a combined total score.
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20
What Does the SAT Measure?
The SAT is an aptitude test. Like all aptitude test, it must choose a medium in which to
measure intellectual ability. The SAT has chosen Math and English.
OK, the SAT is an aptitude test. The question is-does it measure aptitude for college?
TheSAT’
sa
bi
l
i
t
yt
opr
e
di
c
tpe
r
f
or
ma
nc
ei
nc
ol
l
e
g
ei
sonl
yal
i
t
t
l
ebe
t
t
e
rt
ha
nc
ha
nc
e
.
No test can measure all aspects of intelligence. Thus any admission test, no matter how
well written, is inherently inadequate. Nevertheless, some form of admission testing is
necessary. It would be unfair to base acceptance to college solely on grades; they can be
misleading. For instance, would it be fair to admit a student with an A average earned in
e
a
s
yc
l
a
s
s
e
sove
ras
t
ude
ntwi
t
haBa
ve
r
a
gee
a
r
ne
di
ndi
f
f
i
c
ul
tc
l
a
s
s
e
s
?As
c
hool
’
s
reputation is too broad a measure to use an admission criteria; many students seek out
easy classes and generous instructors, in hopes of inflating their GPA. Furthermore, a
system that would monitor the academic standards of every class would be cost
prohibitive and stifling. So until a better system is proposed, the admission test is here to
stay.
Format of the SAT
The SAT is a three-hour test. Only two hours and thirty minutes of the test count toward
your score-the experimental section is not scored. There are seven sections in the test.
Section
1
Verbal
2
Verbal
3
Verbal
4
Math
5
Math
6
Math
7
Experimental
Question Type
10 Sentence Completions
13 Analogies
12 Reading Comprehension
9 Sentence Completions
6 Analogies
15 Reading Comprehension
13 Reading Comprehension
Time
30 Minutes
25 Multiple-choice
30 Minutes
15 Quantitative Comparisons
10 Grid-ins
10 Multiple-choice
30 Minutes
Verbal or Math
30 Minutes
30 Minutes
15 Minutes
15 Minutes
The order of the format is not fixed: the sections can occur in any order.
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21
The experimental section, which is not scored, can be a verbal section, a math section,
oral
og
i
cs
e
c
t
i
on.Youwon’
tknowwhi
c
hs
e
c
t
i
oni
se
xpe
r
i
me
nt
a
l
.Youwi
l
lknow
which type of section it is, though, since there will be an extra one of that type.
Scoring the SAT
The two parts of the test are scored independently. You will receive a verbal score
and a math score. Each score ranges from 200 to 800. The average verbal score is
500, and the average math score is 500. Thus, the total average is 1000.
In addition to the scaled score, you will be assigned a percentile ranking, which gives
the percentage of students with scores below yours. For instance, if you correctly
answer 48 of the 60 math questions, then you will score better than 90% of the other
test takers.
The“2outof5”Rul
e
It is significantly harder to create a good but incorrect answer-choice than it is to
produce the correct answer. For this reason usually only two attractive answerchoices are offered. One correct; the other either intentionally misleading or only
partially correct. The other three answer-choices are usually fluff. This makes
educated guessing on the SAT immensely effective. If you can dismiss the three fluff
choices, your probability of answering the question successfully will increase from
20% to 50%.
Questions and Answers
When is the SAT given?
The test is administered seven times a year –in October, November, December,
January, March, May and June –on Saturday mornings. Special arrangements for
schedule changes are available.
I
fIdi
dn’
tmai
li
nar
e
gi
s
t
r
at
i
onf
or
m,mayIs
t
i
l
lt
akethe test?
On the day of the test, walk-in registration is available, but you must call ETS in
advance. You will be accommodated only if space is available –it usually is.
How important is the SAT and how is it used?
It is crucial! Although colleges may consider other factors, the majority of admission
decisions are based on only two criteria: your SAT score and your GPA.
How many times should I take the SAT?
Most people are better off preparing thoroughly for the test, taking it one time and
getting their top score. You can take the test as often as you like, but some schools
will average your scores. You should call the schools to which you are applying to
find out their policy. Then plan your strategy accordingly.
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22
Can I cancel my score?
Yes. To do so, you must notify ETS within 5 days after taking the test.
Where can I get the registration forms?
Most high schools have the forms. You can also go to the ETS website at
www.ets.org for more information.
Where can I find out more information about the SAT test?
You can go online to www.testprepcenter.com and purchase an SAT Online Course
for $69.95.
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23
College Selection Navigator
The Purpose
Choos
i
ngt
he“
r
i
g
ht
”c
ol
l
e
get
ha
tf
i
t
st
hes
t
ude
nt
’
spe
r
s
ona
l
i
t
yi
sthe most important
decision in the college process. This is to assure the ease of transition and a high
probability that the student will graduate with a degree and a job in four years. Many
important factors abut a school are often overlooked in the decision making process.
This section is designed to help you analyze the factors to determine the ideal six to
eight colleges to apply for admission.
What You Will Do In This Section!
1. Review the Selecting the St
ude
nt
’
sI
de
a
lCol
l
e
geI
ns
t
r
uc
t
i
ons
.
2. Analyze and grade the 20 MAJOR FACTORS in College Selection based upon
your College Major Interest (from Section 6 of the Career Search Navigator).
►Locat
i
on
►Si
z
e
►At
hl
et
i
cPr
ogr
am
►Tal
entPr
ogr
ams
►Speci
alPr
ogr
ams
►Co-op Programs
►JobPlacement
►Rel
i
gi
on
►At
t
r
i
t
i
on
►St
udent
/
Facul
t
y
Ratio
►Facul
t
ywi
t
hPhD'
s
►CampusSet
t
i
ng
►CampusSaf
et
y
►Al
cohol
/
Dr
ugPol
i
cy
►St
udentBody
Reputation
►Di
v
er
si
t
y
►Gr
eekSy
st
em
►Housi
ng
►Food
►Weat
her
What You Can Expect To Accomplish!
Successful completion of Section 1 through Section 2 will allow you:
♦Toha
v
ea
nobj
e
c
t
i
veba
s
i
st
oa
na
l
y
z
ea
ndg
r
a
dee
i
g
ht(
8)c
ol
l
e
g
ec
hoi
c
e
si
ni
t
i
a
l
l
y
selected by the student on the basis of the 20 MAJOR FACTORS
♦Toha
v
ea
nobj
e
c
t
i
veba
s
i
st
oa
nalyze and grade any additional college choices on the
basis of the 20 MAJOR FACTORS.
♦Tog
r
a
dee
a
c
hoft
hec
ol
l
e
ge
st
ha
ty
oua
na
l
y
z
et
ode
t
e
r
mi
net
hebe
s
tpot
e
nt
i
a
lf
i
tf
ort
he
student
Created by: Invest In Your Debt, Inc.
24
1 Sel
e
c
t
i
ngt
heSt
ude
nt
’
sI
de
alCol
l
e
ge
Successful selection of an ideal college for the student can be achieved through
proper research. This research should be centered around a group of twenty MAJOR
factors to determine which of those factors are most important to the student and
family. Use Section 2 to analyze and grade up to twenty five colleges to help
determine which schools the student will send admissions applications.
Thene
c
e
s
s
a
r
yi
nf
or
ma
t
i
ont
oc
ompl
e
t
eSe
c
t
i
on2c
a
nbef
oundi
ne
a
c
hc
ol
l
e
g
e
’
sown
information literature, or in the following books at most libraries or bookstores:
♦Pe
t
e
r
s
on’
sGuide to Four-Year Colleges
♦Ba
r
r
on’
sProfiles of American Colleges
♦Pr
i
nc
e
t
onRe
vi
e
w’
sThe Best 309 Colleges
♦St
e
ve
nAnt
onof
f
’
sThe College Finder/475 Ways
♦Edwa
r
dFi
s
ke
’
sThe Selective Guide to Colleges
♦Love
j
oy
’
s The College Guide
However, your final college choice should ultimately be based on the strategic
information you gather during your college visits. Use the question and answer
analysis (provided in Sections 2 through 5 of the College Visitation Navigator) from
e
a
c
hc
ol
l
e
g
evi
s
i
tt
ode
t
e
r
mi
newhi
c
hc
ol
l
e
g
e
sbe
s
tf
i
tt
hes
t
ude
nt
’
spe
r
s
ona
l
i
t
y
pr
of
i
l
e
,me
e
tt
hepa
r
e
nt
s
’pe
r
s
ona
lpr
i
or
i
t
i
e
sa
ndof
f
e
rt
hef
a
mi
l
yag
oode
duc
a
t
i
ona
l
value.
Use the following step-by-step process to rank up to twenty five (25) college choices.
Step 1. List the career path(s) or area(s) of interest that you wish to pursue. Use the
Career Search Navigator as an aid to locate possible strengths.
1._______________________________
2._______________________________
3._______________________________
Step 2. Use Section 2 to score the twenty MAJOR college selection factors for each
college you choose. This can help you determine your final college choice. Be sure
each college has the career path(s) or area(s) of interest (Step 1) the student wishes to
pursue.
Step 3. Rank your top eight (8) college choices.
1
2
3
4
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5
6
7
8
25
2 Major Selection Factors
1. Location –Is the Location of this college satisfactory to your needs?
2. Size –Is the size of this college satisfactory to your needs?
♦s
ma
l
l–less than 3,000 students
♦me
di
um–between 3,000 and 10,000
♦me
d/
l
a
r
g
e–between 10,000 and 20,000 ♦l
a
r
g
e–greater than 20,000 students
3. Athletic Program –Doe
st
h
i
sc
o
l
l
e
g
eha
v
eas
po
r
t
spr
o
g
r
a
mt
ha
tme
e
t
st
h
es
t
ude
n
t
’
s
needs (as an athlete or a spectator
4. Talent Program –Doe
st
hi
sc
ol
l
e
g
eha
v
eat
a
l
e
ntpr
og
r
a
mt
ha
tme
e
t
st
hes
t
ud
e
nt
’
sne
e
ds
(theater, newspaper, debate team)?
5. Special Programs –Does this college have special programs or facilities that the student
needs or must have (learning disabilities, special medical facilities, etc.)?
6. Co-op Programs –Does this college have an academic co-op (study/work) program in the
s
t
ude
nt
’
sma
j
ort
ha
tc
a
nr
e
d
uc
ey
ourc
o
l
l
e
g
ec
os
t
sa
ndhe
l
pt
hes
t
u
de
n
ta
c
h
i
e
v
e
employment after graduation?
7. Job Placement –Does this college have a Placement Office that places a high number of
students in jobs prior to graduation?
8. Religion –Does this college have a religious program that fits your needs?
9. Attrition –Does this college have a high number of freshmen that graduate within five
years.
10. Student/Faculty Ratio –Does this college have a low student to faculty ratio to guarantee
a more interactive classroom participation and personal faculty attention for the student?
11. Faculty With PhDs –Does this college have a high number of faculty with PhDs?
12. Campus Setting –Is this college located in a desirable area or neighborhood?
13. Safety –Doe
st
h
i
sc
ol
l
e
g
e
’
sc
a
mpusha
v
ea
de
qu
a
t
es
e
c
ur
i
t
ya
ndag
oods
a
f
e
t
yr
e
p
ut
a
t
i
on
?
14. Alcohol/Drug Policy –Does this col
l
e
g
e
’
sa
l
c
ohol
/
d
r
u
gpol
i
c
yf
i
ty
ourr
e
qui
r
e
me
nt
?
15. Student Body Reputation –Doe
st
h
i
sc
ol
l
e
g
e
’
ss
t
ude
n
tbodyr
e
put
a
t
i
onf
i
tt
h
es
t
ud
e
nt
’
s
personality?
16. Diversity –Doe
st
hes
t
ude
n
tmi
xa
tt
hi
sc
o
l
l
e
g
ef
i
tt
h
es
t
ude
n
t
’
spe
r
s
on
a
l
i
t
y
?
17. Greek System –Does the role that fraternities and sororities play in this college fit the
s
t
ude
nt
’
sn
e
e
ds
?
18. Housing –I
st
hi
sc
ol
l
e
g
e
’
shous
i
n
g(
a
ndhou
s
i
n
gpo
l
i
c
y
)s
a
t
i
s
f
a
c
t
or
yt
oy
ourn
e
e
d
s
?
Created by: Invest In Your Debt, Inc.
26
19. Food –Is the on-campus food at this college satisfactory to your needs?
20. Weather –I
st
hi
sc
ol
l
e
g
el
o
c
a
t
e
di
nac
l
i
ma
t
et
ha
t
’
ss
a
t
i
s
f
a
c
t
o
r
yt
oy
ourne
e
ds
?
Created by: Invest In Your Debt, Inc.
27
College Visitation Navitator
The Purpose
Thema
i
nf
unc
t
i
onoft
hec
a
mpusvi
s
i
ti
st
oi
ns
ur
et
ha
tt
hec
ol
l
e
g
e
’
s“
pe
r
s
ona
l
i
t
y
”f
i
t
s
the personality of the student. Once you have identified the colleges of interest, a
di
r
e
c
tc
a
mpusvi
s
i
twi
l
lof
f
e
rac
l
e
a
r
e
runde
r
s
t
a
ndi
ngofe
a
c
hc
ol
l
e
g
e
’
spr
ogr
a
ms
,
policies and social setting. Only during this visit can the student experience the
environment in which he or she will live and work during the subsequent four critical
years.
What You will Do In This Section
1. Make visitation arrangements with the colleges that you have selected using the
College Selection Navigator. Scheduling is recommended on a weekday, during
the school term.
2. While on compass, you should ask strategic questions, including those from the
following questionnaires:
1. Admissions Office
2. Financial Aid Office
3. Career Placement Office
4. Faculty
5. Athletic Department
6. Students
3. Based upon your evaluation of the responses, use Section 7 to rank your colleges.
What You Can Expect To Accompolish!
♦Youwi
l
lha
veac
l
e
a
runde
r
s
t
a
ndi
ngoft
heda
y
-to-day operation of each college
♦Youwi
l
lha
vea
nobj
e
c
t
i
veme
t
hodt
oc
ompa
r
et
hes
t
r
e
ng
t
hsofe
a
c
hs
c
hool
.
♦Youwi
l
lbea
bl
et
ode
t
e
r
mi
newhi
c
hc
ol
l
e
gebe
s
tf
i
t
st
hes
t
ude
ntba
s
e
dont
he
education value, employment opportunity and affordability to the family.
Please make sure to make copies of the next 6 pages prior to each college
visit!!!!!
Created by: Invest In Your Debt, Inc.
28
1 Questions to be Asked: Admission Office
College:_______________________________________________
Mr/Ms/Dr:______________________________________________
Telephone No. (______)_______-_________
Date ____________________
1. What are the criteria used for admissions at your college?
Answer:______________________________________________________________
2. How do you rank these criteria?
Answer:______________________________________________________________
3. How important is the ACT/SAT test in the admissions process?
Answer:______________________________________________________________
4. Wha
ti
st
hec
ol
l
e
g
e
’
sa
dmi
ssions deadline?
Answer:______________________________________________________________
5. What is the student to faculty ratio at the college?
Answer:______________________________________________________________
6. What percentage of faculty members have doctorate degrees?
Answer:______________________________________________________________
7. What is the average enrollment of the freshman class?
Answer:______________________________________________________________
8. What percentage of freshmen class will graduate?
Answer:______________________________________________________________
9. What percentage of graduates will continue on to graduate school?
Answer:______________________________________________________________
10. My Overall impression?
Created by: Invest In Your Debt, Inc.
29
2 Questions to be Asked: Financial Aid Office
College:_______________________________________________
Mr/Ms/Dr:______________________________________________
Telephone No. (______)_______-_________
Date ____________________
1. What is the total cost of college or financial aid budgeted cost?
Answer:______________________________________________________________
2. What forms are used by the college to determine financial aid eligibility?
Answer:______________________________________________________________
3. What is the col
l
e
g
e
’
sf
i
n
a
nc
i
a
la
i
dde
a
dl
i
ne
?
Answer:______________________________________________________________
4. How does the college financially reward a good student?
Answer:______________________________________________________________
5. What percentage of my financial NEED will be met by the college?
Answer:______________________________________________________________
6. What percentage of this NEED met will be in the form of Gift Aid? In the form
of Loans? In the form of Work/Study?
Answer:______________________________________________________________
7. What other non-need or merit grants and scholarships are available?
Answer:______________________________________________________________
8. If any private outside scholarships are awarded, will the school use these to
replace their own monies?
Answer:______________________________________________________________
9. What is the average debt incurred by each Student upon graduation?
Answer:______________________________________________________________
10. My Overall impression?
Created by: Invest In Your Debt, Inc.
30
3 Questions to be Asked: Career Placement Office
College:_______________________________________________
Mr/Ms/Dr:______________________________________________
Telephone No. (______)_______-_________
1.
Date ____________________
How many full-time staff members work in the placement office?
Answer:______________________________________________________________
2. What job placement services are provided by the placement office?
Answer:______________________________________________________________
3. How long do job placement services remain in effect after graduation?
Answer:______________________________________________________________
4. What percentage of graduates will be employed prior to graduation?
Answer:______________________________________________________________
5. What are the most popular majors of graduates receiving employment?
Answer:______________________________________________________________
6. Which companies and organizations recruit your graduates?
Answer:______________________________________________________________
7. What are the credentials of those graduates receiving employment?
Answer:______________________________________________________________
8. What is the starting salary of graduates in my field or major?
Answer:______________________________________________________________
9. What is the future employment outlook of my field or major?
Answer:______________________________________________________________
10. My Overall impression?
Created by: Invest In Your Debt, Inc.
31
4 Questions to be Asked: Faculty or Department Head
College:_______________________________________________
Mr/Ms/Dr:______________________________________________
Telephone No. (______)_______-_________
Date ____________________
1. Wha
ti
suni
quea
boutt
hi
sde
pa
r
t
me
nt
’
spr
ogr
a
m?
Answer:______________________________________________________________
2. What is the likelihood of graduating from this program in four years?
Answer:______________________________________________________________
3. What department facilities and special technology are available?
Answer:______________________________________________________________
4. How does the faculty advising system work?
Answer:______________________________________________________________
5. How accessible are the professors in this department?
Answer:______________________________________________________________
6. How many full professors are on the department staff?
Answer:______________________________________________________________
7. What percentage of full professors teach introductory classes?
Answer:______________________________________________________________
8. What is the average size of the classes or lectures?
Answer:______________________________________________________________
9. Can I sit in on a class?
Answer:______________________________________________________________
10. My Overall impression?
Created by: Invest In Your Debt, Inc.
32
5 Questions to be Asked: Athletic Department/Coach
College:_______________________________________________
Mr/Ms/Dr:______________________________________________
Telephone No. (______)_______-_________
Date ____________________
1. Where would you rank (SPORT) at your college? In your league?
Answer:______________________________________________________________
2. What sports or activities share the same facilities with (SPORT)?
Answer:______________________________________________________________
3. Does the college plan any additions or changes to the facilities?
Answer:______________________________________________________________
4. Does (SPORT) have an off-season schedule?
Answer:______________________________________________________________
5. Wha
tl
oc
a
t
i
onsa
r
eont
h
et
e
a
m’
supc
omi
ngt
r
a
ve
ls
c
he
dul
e
s
?
Answer:______________________________________________________________
6. What is the break-down of the staff, coaches and their specialties?
Answer:______________________________________________________________
7. What allowances are made for class and exam preparation?
Answer:______________________________________________________________
8. What are my earliest opportunities at playing my position?
Answer:______________________________________________________________
9. Does the team have a set of rules or policies for the athletes?
Answer:______________________________________________________________
10. My Overall impression?
Created by: Invest In Your Debt, Inc.
33
6 Questions to be Asked: Students
College:_______________________________________________
Date ____________________
1. What are three things you most like about the university?
1)______________________________________
2)______________________________________
3)______________________________________
2. What are three things you most dislike about the university?
1)______________________________________
2)______________________________________
3)______________________________________
3. How difficult is it to get assigned to classes?
Answer:______________________________________________________________
_____________________________________________________________________
4. What are the classes like?
Answer:______________________________________________________________
_____________________________________________________________________
5. What are the professors like?
Answer:______________________________________________________________
_____________________________________________________________________
6. What is campus life in general like?
Answer:______________________________________________________________
_____________________________________________________________________
7. What are the dorms like?
Answer:______________________________________________________________
_____________________________________________________________________
Created by: Invest In Your Debt, Inc.
34
7 Ranking the College Choices After the Visit
Ra
nky
ourc
ol
l
e
g
ec
hoi
c
e
sba
s
e
dont
hes
t
r
a
t
e
g
i
ci
nf
or
ma
t
i
ony
ou’
veg
a
t
he
r
e
ddur
i
ng
your college visits. Use the question and answer analysis from each college visit to
de
t
e
r
mi
newhi
c
hc
ol
l
e
g
e
sbe
s
tf
i
tt
hes
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ude
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ona
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i
t
ypr
of
i
l
e
,me
e
tt
hepa
r
e
nt
s
’
personal priorities and offer the family a good education value.
1.__________________________
2.__________________________
3.__________________________
4.__________________________
5.__________________________
6.__________________________
7.__________________________
8.__________________________
Created by: Invest In Your Debt, Inc.
35
Admissions Navigator
The Purpose
If you plan to attend college, facing the enormous processc
a
l
l
e
d“
a
dmi
s
s
i
ons
”i
s
i
ne
vi
t
a
bl
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.Buta
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y
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pt
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obes
uc
ha
painful event. Except for the Ivys and a handful of very selective schools, colleges
today admit a much higher ratio of applicants. Even the most prestigious colleges are
spending huge sums to market themselves to prospective students. Yes, the student
can be very selective about the college they wish to attend. Use the following
sections as a guide to the ultimate goal of being accepted to the college of your
choice.
What You Will Do In This Section!
1. Review the Top Ten Factors Considered in Admissions and your contractual
obligations involved with each type of admissions plan.
2. Us
et
hi
ss
e
c
t
i
ont
oke
e
pt
r
a
c
kofy
oura
dmi
s
s
i
on’
sde
a
dl
i
ne
sa
ndr
e
view the
strategies that can help improve your chance of acceptance.
3. Us
et
hi
sc
he
c
kl
i
s
tt
oma
ket
hea
dmi
s
s
i
on’
sa
ppl
i
c
a
t
i
onpr
oc
e
s
swor
kf
ory
our
benefit.
4. Showcase your abilities and talents by using this example to prepare your own
personal Resume of Outstanding Achievement.
5. Use this checklist as a guideline for writing a successful admissions essay.
6. Us
et
hi
sc
he
c
kl
i
s
tt
oe
ns
ur
eas
uc
c
e
s
s
f
ula
dmi
s
s
i
on’
si
nt
e
r
vi
e
w.
What You Can Expect To Accomplish!
Successful completion of 1 through 6 will allow you to:
♦Ac
c
ur
a
t
e
l
yc
ompl
e
t
et
hea
dmi
s
s
i
onsa
ppl
i
c
a
t
i
onsa
nd meet the deadlines.
♦Dr
a
ma
t
i
c
a
l
l
yi
nc
r
e
a
s
ey
ourc
ha
nc
eofas
uc
c
e
s
s
f
ula
dmi
s
s
i
onsc
a
mpa
i
g
n.
Created by: Invest In Your Debt, Inc.
36
1 College Admissions 101
Top Ten Factors Considered in Admissions
1
2
3
4
5
6
7
8
9
10
Academic Merit (grades)
Class Rank
ACT/SAT Prep Scores
Special Abilities (athletic, talent, etc.)
Essay
Interview
Extracurricular Activities
Recommendations (teachers, alumni, etc.)
State Resident
Diversification of Student (minority, alumni, geographic location, etc.)
Admission Plans
Early Entrance –A student can be accepted, admitted and enrolled prior to high
school graduation. Many colleges use this guarantee to attract better students.
Early Decision –A student can apply to a college by an early deadline to guarantee
their admission, but is obligated to attend that college under a binding contract.
Early Action –A student can apply to a college by an early deadline to guarantee
their admission, without obligating themselves to attend that college.
Regular Admission –A student applies for admission under normal deadlines.
Rolling Admissions –A student can apply for admission at various times during the
year and is under no deadlines.
Deferred Admissions –A student with financial, personal or work-related concerns
can defer or postpone their enrollment for up to one year.
Created by: Invest In Your Debt, Inc.
37
2 Admission Deadlines & Strategies
List the Admissions deadlines of up to eight college choices.
Deadline
Date
College
1
2
3
4
5
6
7
8
*Specific form requi
r
e
me
nt
sa
ndde
a
dl
i
ne
sc
a
nbef
oundi
ne
a
c
hoft
hec
ol
l
e
ge
’
s
admissions applications, marketing brochures or by placing a phone call directly to
the college. Popular guidebooks are often one to two years out of date.
Admission Strategies
Be sure that each college the student applies to:
Ha
sar
e
put
a
t
i
onf
orqua
l
i
t
ye
duc
a
t
i
on.
Fi
t
st
hes
t
ude
nt
’
spe
r
s
ona
l
i
t
ya
ndne
e
ds
.
I
sma
t
c
he
dwi
t
hac
omp
e
t
i
t
orc
ol
l
e
geofe
qua
lqua
l
i
t
y
.
Wi
l
lme
e
tt
hehi
g
hpe
r
c
e
nt
a
g
eofy
ourf
i
na
nc
i
a
lNEED
Wi
l
lme
e
ty
ourNEED with a high percentage of Gift-Aid.
Created by: Invest In Your Debt, Inc.
38
3 Admissions Application Checklist
Us
et
hef
ol
l
owi
ngc
he
c
kl
i
s
ta
sag
ui
de
l
i
net
oc
ompl
e
t
i
ngas
uc
c
e
s
s
f
ula
dmi
s
s
i
on’
s
application and campaign.
 Wr
i
t
eorphonedi
r
e
c
t
l
yt
ot
hec
ol
l
e
get
or
e
que
s
tup-to-date applications.
 St
a
r
te
a
r
l
y–don’
twa
i
tunt
i
lt
hel
a
s
tmi
nut
e
 Ge
tor
g
a
ni
z
e
d–use a separate file folder for each college application.
 Bes
ur
et
or
e
a
dt
hea
ppl
i
c
a
t
i
ont
hor
oug
hl
ya
nda
ns
we
re
a
c
hque
s
t
i
on,a
sa
s
ke
d.
 Ty
peorpr
i
nte
a
c
ha
ppl
i
c
a
t
i
o
n (preferably in black ink). No longhand.
 Pr
oof
r
e
a
de
a
c
ha
ppl
i
c
a
t
i
on.Spe
l
l
i
nga
ndg
r
a
mma
t
i
c
a
le
r
r
or
sa
r
euna
c
c
e
pt
a
bl
e
.
 Bes
ur
et
oi
nc
l
udeONLYt
h
os
ee
xt
r
a
c
ur
r
i
c
ul
a
ra
c
t
i
vi
t
i
e
st
ha
ta
r
ei
mpr
e
s
s
i
vet
ot
he
college. They should demonstrate qualities of leadership, duration and activities that
reinforce your academic and career goals mentioned in your application.
 Ma
kec
opi
e
sofe
a
c
hc
ompl
e
t
e
da
ppl
i
c
a
t
i
on.
 Re
que
s
tf
ort
e
a
c
he
rr
e
c
omme
nda
t
i
onse
a
r
l
y(
3we
e
kpr
e
f
e
r
e
nc
e
)
.
 Choos
et
e
a
c
he
r
st
ha
tbest know you.
 Pr
ovi
dede
a
dl
i
ne
sa
ndpr
ope
rf
or
ms
,i
nc
l
udi
ngas
e
l
f
-addressed stamped envelope.
 Se
nde
a
c
ht
e
a
c
he
rat
ha
nk-you note, and keep each informed of the results.
 Bes
ur
et
oma
kea
r
r
a
ng
e
me
nt
swi
t
hy
ourg
ui
da
nc
ede
pa
r
t
me
ntt
oi
nc
l
udey
our high
school transcript and distribute the applications to the colleges.
Created by: Invest In Your Debt, Inc.
39
4 Resume of Outstanding Achievement
I.
What is a Resume of Outstanding Achievement?
Each year thousands of students fill out admissions applications in an attempt to gain
entrance into the college of their choice. Many attempt to enter prestigious colleges
with the understanding that, even though their high school record is impeccable, there
are thousands of other students as good, or better, competing for the same privilege.
A Res
umeofOut
s
t
a
ndi
ngAc
h
i
e
ve
me
nthi
g
hl
i
g
ht
st
hes
t
ude
nt
’
sba
c
kg
r
ounda
nd
abilities.
II.
Why should I do a Resume of Outstanding Achievement?
Admissions Officers review thousands of applications. Being accepted to a particular
school may be important to you, but to Admissions Officers it is a tedious, at best,
yearly task. Therefore, you should put yourself in their shoes and help them make
their job easier. A two (2) page Resume of Outstanding Achievement accomplishes
this goal with style. It allows for a quick review of your background to showcase
your abilities and talents. Best of all, it saves the admissions review committee time.
Showing consideration for their time may give you the edge you need to gain
acceptance.
III.
What should a good Resume of Outstanding Achievement contain?
Similar to a job resume, the Resume of Outstanding Achievement should quickly
explain the student:
♦I
sawe
l
lr
ounde
di
ndi
vi
dua
l
♦Ha
sl
e
a
de
r
s
hi
pc
a
pa
bi
l
i
t
i
e
s
♦I
sor
g
a
ni
z
e
d
♦I
sc
onf
i
de
nta
ndma
t
ur
e
♦Has the capability of assuming additional responsibilities
♦Has a game plan and is motivated to achieve a goal
♦Has the qualities the school is looking for
♦DESERVESACCEPTANCE!
Following the guideline on the next two (2) pages to develop your own personal
Resume of Outstanding Achievement.
NOTICE: Be sure to include your resume with each application that you
submit!
Created by: Invest In Your Debt, Inc.
40
James A Smith
Address: 4560 Main Street
Anytown, OH 40600
Phone: (614)791-0000
Educational/Career Goals:
Mye
duc
a
t
i
ona
lg
oa
li
st
oobt
a
i
naBa
c
he
l
or
’
sDe
gr
e
ei
nCommuni
c
a
t
i
onsf
r
om
the University of USA. My career goal is to be a writer.
Academic History:
School: Anytown High School, Anytown, Ohio –Graduate 2006
Class Rank:
15th of 389 students
GPA:
3.45
Curriculum:
College Preparation
Advanced Placement –English
Advanced Placement –History
Three Honors Classes
Achievements/Honors:
National Honor Roll
Kiwanas Top 10 Honoree
National Merit Semifinalist
Outstanding Senior Award
Who’
sWhoofAme
r
i
c
a
nSt
ude
nt
s
Gemini Technology Award
Scores:
ACT Composite
Percentile
26
89
SAT
600
600
Math
Verbal
Personal Interests:
Reading/Writing/Music/Travel
Created by: Invest In Your Debt, Inc.
41
Extracurricular Activities:
Editor-In-Chief –Anytown High School Newspaper
Anytown All-City Choir
Drama Club
International Thespian Society
Key Club
Spanish Club
Student Council
Football –3 years
Track –2 years (Captain)
Community Service:
Habitat for Humanity Volunteer –Anytown, Ohio
Faith Mission Soup Kitchen Volunteer –Anytown, Ohio
Inter City Camp Counselor –Union Wesleyan Church, Anytown, Ohio
Bible School Counselor –Union Wesleyan Church, Anytown, Ohio
Red Cross –Blood Donor
I CAN Building Program Voluntter –New Iberia, Louisiana
Employment:
Self-Employed Author: The Creativesmith Inc.
The Soup Kitchen, Adam Publishing Company, Inc. 2005
Any
t
ownMc
Dona
l
d’
s
, Anytown, Ohio –3 years
References:
Martin Holland, English Teacher & School Newspaper Advisor
9335 Hoover Road, Anytown High School, Anytown, Ohio
J
i
m Le
s
t
e
r
,Owne
r&Pr
e
s
i
de
ntofAny
t
ownMc
Dona
l
d’
s
16 Main Street, Anytown, Ohio
Reverend Jerry Lyman, Union Wesleyan Church
397 Darby Stream Road, Anytown, Ohio
Created by: Invest In Your Debt, Inc.
42
5 Essay Checklist
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Created by: Invest In Your Debt, Inc.
43
6 Interview Checklist
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parents.
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wer the following questions: Describe your ideal college?, Which
other colleges are you considering?, or Which college is your top choice?
 Se
ndat
ha
nk-you note to each interviewer within 3 days after the interview.
Created by: Invest In Your Debt, Inc.
44
Scholarship Search Navigator
The Purpose
“
The
r
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a
r
s
hi
pa
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ges
c
hol
a
r
s
hi
psa
ndg
r
a
nt
sare
controlled by the colleges themselves, and only 1% of them are available through outside
sources. The following sections will help you to identify the deceptive scholarship
searches offers, conduct your own LOCAL scholarship search and introduce a low cost
computerized search used by colleges and libraries around the country.
What You Will Do In This Section!
1. Learn how to identify the common traits of deceptive, computerized scholarship
search offers and how some can prey off desperate parents by using misleading
wording in their sales pitch.
2. Conduct your own scholarship search from local organizations such as the
Chamber of Commerce, Rotary, churches, etc. These local private scholarships
and grants are more accessible to you and your student.
3. Review this low cost, nationwide scholarship search from a credible company
us
e
dbyc
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pe
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i
c
to your student, you may wish to use this low cost service.
What You Can Expect to Accomplish!
Successful completion of 1 through 3 will allow you to:
♦Avoi
dl
oos
i
ngmone
yt
oe
xpe
ns
i
ve
,non-productive scholarship searches.
♦Conduc
taqui
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♦Conduc
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hi
ps
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a
r
c
h.
Created by: Invest In Your Debt, Inc.
45
1 “BuyerBeware”t
heComputerized Search
“
Al
lt
ha
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l
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t
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e
r
si
snotg
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”Thi
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s
.Le
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sl
ooka
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c
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s
:
FACT 1: Nearly all financial aid is government or college controlled
The Sources of Financial Aid
50
40
30
20
10
0
Federal
Loans
Federal
Grant
Colleges
Stat
e
Employers
VA
Program
s
Private
Funds
FACT 2: Scholarship search firms deal with private sector aid –no more than 1% of the
potential financial aid funding
FACT 3: The cost for most searches is high:
FACT 4: With your effort, you can obtain information about private sector scholarships
from a school or public library, or a local college.
FACT 5: Scholarship search firms will only provide the addresses for sources. YOU
must still do all the leg work, including applications and compliance with the terms and
conditions of the scholarship.
FACT 6: There is legitimate financial aid data base information available.
Created by: Invest In Your Debt, Inc.
46
1a Recognizing the Deceptive Scholarship Search
Factors that are typical of deceptive scholarship search offers:
 Cos
tr
a
nge
 Your
e
c
e
i
vepa
geafter page of out-of-date lists of private scholarships and grants.
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tdonotf
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ours
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ude
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.
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om t
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our
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.NO
credible foundation will notify the numerous rejections.
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r
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lr
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a
r
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These should not be used they only want your money.
Created by: Invest In Your Debt, Inc.
47
2 How to Conduct Your Own Local Scholarship Search
Sc
hol
a
r
s
hi
psa
ndg
r
a
nt
sf
r
oml
oc
a
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ni
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i
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l
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of
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ty
ours
t
ude
nt
’
s
profile and your odds of success will increase dramatically by applying for these private
s
e
c
t
ormoni
e
s
.He
r
e
’
swhe
r
ey
ouc
a
nbe
g
i
nt
ol
ook:
1. High School Guidance Department
2. Pa
r
e
nt
/
Te
a
c
he
r
’
sAs
s
oc
i
a
t
i
on
3. Chamber of Commerce
4. Local Libraries
5. Local Community/Technical College
6. Yellow Pages (under Foundations)
7. Churches
8. Clubs
9. Unions
10. Trade Associations
11. Fraternal organizations
12. American Legion Post
13. Businesses (Human Relations Dept.)
14. Local Pageants
Once you locate possible monies, use the chart on the next page to record the information
about those that best fit the profile of your student. Then complete your applications
around the various deadlines.
Created by: Invest In Your Debt, Inc.
48
Local Scholarships and Grants
Name of
Foundation
Address
Created by: Invest In Your Debt, Inc.
Contact
49
Phone #
Deadline
Amount
Requirements
3 A National Database of Scholarships & Grants
Even though the private sector produces only 1% of the available college financial aid,
many families still wish to pursue every possible source of monies to reduce their college
costs. What are the common traits of a respectable computerized scholarship search?
1. Low cost –Your local library may have a FREE scholarship database. If the cost
ofac
us
t
omi
z
e
dda
t
a
ba
s
es
e
a
r
c
hi
sa
bove$29.
00,i
t
’
spr
oba
bl
ywor
t
ht
het
i
mea
nd
effort to complete your own database search.
2. No guarantee –In this highly competitive field of private sector scholarships and
grants, there is never a guarantee you will actually win monies. Therefore, a
credible company will never offer a guarantee. What you see is what you get!
The only guarantee is that you will save time using their predetermined, verified
database.
3. Annually verified list of sources –Every foundation or company that offers a
scholarship or grant or endowment usually operates their program under a nonprofit status (IRC 501c3) and must register each year with the Internal Revenue
Service. A credible search company will verify the continuing status of each
source, every year.
4. Credible –If the database used by the search company is also sold to libraries
and colleges, you are most likely tapping into a credible resource.
If you b
e
l
i
e
vet
ha
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t
i
mei
smone
y
”a
ndwi
s
ht
os
a
vehour
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e
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e
a
r
c
hc
onduc
t
i
nga
scholarship search specific to your student, you way wish to use the following low cost,
nationwide scholarship search:
♦TheSc
hol
a
r
s
hi
pRe
s
our
c
eNe
t
wor
k.Youc
a
ndoaf
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r
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www.srnexpress.com
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ua
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e
e
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i
onofSt
ude
ntFi
na
nc
i
a
lAi
d
Administrators.
Created by: Invest In Your Debt, Inc.
50
The EFC Navigator
The Purpose
The Expected Family Contribution (EFC) is quite possibly the most important single
numbe
rt
oac
ol
l
e
g
ebounds
t
ude
n
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ot
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RS
tax code and is calculated from a formula based on the student’
sa
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s
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a
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t
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.I
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’
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l
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t
yt
oqua
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for financial assistance. The EFC Navigator is dedicated to helping you get the correct
amount of financial aid.
What You Will Do In This Section!
1. Discover:
♦Thet
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or
ya
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e
a
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i
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nc
i
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EFC)i
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the Expected Family Contribution
2. Discover:
♦Howy
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nc
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s
e
t
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e
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e
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mul
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,whi
c
hc
a
n
improve the accuracy of your financial aid applications.
What You Can Expect To Accomplish!
♦Ana
wa
r
e
ne
s
soft
hei
mpor
t
a
nc
eoft
heExpe
c
t
e
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mi
l
yCont
r
i
but
i
on.
♦Mi
nimize your Expected Family Contribution and increase your financial aid
eligibility.
Created by: Invest In Your Debt, Inc.
51
1 The Current College Financial Aid System
The college financial aid system is often misunderstood. In your endeavor to
qualify for financial aid, please remember three main points:
1. The Federal government sets rules for how financial aid is intended to
be given;
2. The colleges have nearly unlimited authority to decide who gets that
aid and in what amounts.
3. The colleges can override the rules using their professional judgment.
In theory, students with the greatest financial need should realize the largest financial aid
benefit. In actuality, many colleges use financial aid to attract students who best fit the
c
ol
l
e
ge
’
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l
sa
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i
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l
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phically.
Since state universities are substantially subsidized by their state government, private
colleges are constantly competing against these lower costs. However, private colleges
are not regulated by a state government. Therefore, they have the freedom to offer
lucrative financial aid packages to students they wish to attract. To meet this
competition, every private college in the United States can give a special grant (usually
na
me
da
f
t
e
rt
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i
ri
ns
t
i
t
ut
i
on)t
o“
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i
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tt
ot
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ompe
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i
tive level of state
universities.
Don’
tbef
ool
e
dbyThree Misconceptions most parents fall into:
1. Financial aid is only for the poor.
2. I earn too much money to qualify for financial aid.
3. Private colleges are too expensive.
These misconceptions could cause you to overlook the financial aid system as a way to
pay for college. Families should make every attempt to understand exactly how the
financial aid system works.
Created by: Invest In Your Debt, Inc.
52
1a The Expected Family Contribution
The Expected Family Contribution or EFC is the amount of money the student and
pa
r
e
nt
sa
r
ee
xpe
c
t
e
dt
opa
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:
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t
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t
me
nt
s
,a
ndi
nwha
tf
or
m.
How much financial aid the student is eligible to receive is based on a simple formula:
Total Cost of College
- Expected Family Contribution
= Financial Aid Eligibility
Fr
om t
hi
sf
or
mul
a
,i
ti
se
a
s
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r
e
a
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decreased. Unfortunately, the methods of evaluating how the income and assets of the
student and family are counted are quite complex.
Nota
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ls
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nt
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se
nt
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eFi
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a
lAi
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i
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i
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y
.Wi
t
hi
na
de
qua
t
e
planning, a family could end up paying their Expected Family Contribution PLUS a
significant portion of the unmet Financial Aid Eligibility.
Developing a solid college plan to minimize your Expected Family Contribution, while
choosing a college that will assess the lowest premium, is the least expensive method to
fund a college education
Created by: Invest In Your Debt, Inc.
53
2 Understanding the EFC Formula
Similar to the IRS Tax Code, the Financial Aid System is also governed by a set of rules
and regulations. The financial aid rules and regulations are called the Federal
Methodology which are used to establish the Expected Family Contribution or EFC
Formula. It is important to understand the components of the EFC formula in order to
accurately complete your financial aid applications. Your knowledge of:
1. How income and assets are assessed, and
2. The proper classification and ownership of income and assets
can assure your family the maximum financial aid eligibility.
The following is a chart which lists the assessment of income and assets under the
Expected Family Contribution or EFC formula. To insure the accuracy of your financial
aid applications, you may want to consult your accountant, financial planner or college
counselor experienced in educational planning and the EFC formula. Please complete the
financial questionnaire on 2a prior to this consultation.
Parents
Income
-
Parents
Assets
-
Living Allowance
Income Tax
Social Security Tax
22%
x to =
47%
Asset Protection
Allowance
X 5.6%
Parents
Contribution
from Income
Parents
Contribution
from Assets
+
$2,200
Student
Student
Income
-
Income Tax
Social Security Tax
Student
Assets
-
Nothing
X 50%
=
X 20%
=
=
Created by: Invest In Your Debt, Inc.
54
Contribution
From Income
Student
Contribution
from Assets
EXPECTED
FAMILY
CONTRIBUTION
2a The EFC Questionnaire
Please complete the following questionnaire prior to consulting with your accountant,
financial planner or college counselor. Be sure your financial consultant is experienced
in educational planning and the EFC formula.
Name:____________________________________________________
City/State/Zip:______________________________________________
Phone (Res.):_______________________________________________
Number of Family Members:__________________________________
Number in College:__________________________________________
Pa
r
e
nt
’
sAdj
us
t
e
dGr
os
sI
nc
ome
:
*_______________________________
Pa
r
e
nt
’
sRe
t
i
r
e
me
ntCont
r
i
but
i
ons
:
*_____________________________
Pa
r
e
nt
’
sNon-Taxable Income and Benefits;* _____________________
Pa
r
e
nt
’
sNet Investment:** ____________________________________
St
ude
nt
’
sAdj
us
t
me
ntGr
os
sI
nc
ome
:
______________________________
St
ude
nt
’
sTot
a
lI
nve
s
t
me
nt
s
:
_____________________________________
____________________________________________________________
St
ude
nt
’
sGr
a
dePoi
ntAve
r
a
g
e
:
___________________________________
St
ude
nt
’
sCl
a
s
sRa
nk:
__
________
_
________________________________
St
ude
nt
’
sACTSc
or
e
:
__________
_
________________________________
St
ude
nt
’
sSATSc
or
e
:
___________________________________________
_____________________________________________________________
*See, IRS Form 1040
**Total Investments include bank accounts, stocks, bonds, mutual funds, business
assets, etc, minus debts against these specific investments.
Created by: Invest In Your Debt, Inc.
55
Financial Aid Form Navigator
The Purpose
Financial aid application forms and paperwork are bureaucratic and extremely
confusing for most families. Although necessary to receive financial assistance,
completing these forms is at the top of the li
s
t
sof“
Thi
ng
sTha
tParents Would Rather
NotDo.
”TheFi
na
nc
i
a
lAi
dFor
m Na
vi
ga
t
or is dedicated to helping families better
organize the financial aid application process, accurately complete the application
f
or
msa
ndme
e
tt
her
e
que
s
t
e
dd
e
a
dl
i
ne
s
.Thi
sc
a
ni
mpr
ovet
hef
a
mi
l
y
’
sa
bi
l
i
t
yt
o
receive financial assistance, thereby reducing their total college expenses.
What You Will Do In This Section!
1. The financial aid system can be extremely complex for the first-time applicant.
Review this section to understand how the cost of a private college can be less
expensive than a public university.
2. Review this section to help you understand the purpose of each major form, which
questions are most important to your family and how to answer them. Use the
checklist as you complete each application and form to dramatically improve your
accuracy, and maximize your ability to receive financial assistance.
3. Complete this checklist to insure that you have the proper records to file your
financial aid application forms, while also improving your accuracy and speed.
4. Use this checklist to ensure that you complete only the required applications and
paperwork, and meet all the necessary deadlines to avoid possible
disqualification.
What You Can Expect to Accomplish!
Successful completion of this section will allow you to:
♦Ac
c
ur
a
t
e
l
yc
ompl
e
t
et
hef
inancial aid application and meet the deadlines.
♦Take advantage of the benefits of understanding the financial aid system.
Created by: Invest In Your Debt, Inc.
56
1 Financial Aid 101 –Public vs. Private Colleges
The LOWER your Expected Family Contribution the HIGHER your NEED.
Private Colleges will fill a HIGHER percentage of your NEED with GIFTS you
DON’
Tpay back.
THEREFORE: Private College can actually COST LESS
than State Public Schools
2 Financial Aid 201 –Maki
ngDi
f
f
i
c
ul
tFor
ms
…Si
mpl
e
Filling out financial aid applications can cause the same anxiety as completing your
IRS tax forms, or visiting the dentist. This section will help you to better understand
the basis of each form, the reason each form is used and the importance of answering
all questions correctly.
WARNING: Prior to sending any of the following forms to a processor or to the
college directly, be sure to make note of the following important information.
1. Make copies of ALL applications for your records. This will ensure that all
forms are completed correctly and contain exactly the same answers.
2. List several colleges on your application. This can give you the bargaining
power needed if a favorite college comes up short in its financial aware
package.
3. You may use ESTIMATED financial data on your application. Many
financial aid deadlines come due prior to the completion of your IRS 1040 tax
forms.
*****
Created by: Invest In Your Debt, Inc.
57
FAFSA
Free Application for Federal Student Aid
What is it? –A four/five page multi question financial aid application
processed by the Federal Government and required (mandatory) by MOST
colleges prior to awarding Federal, State, College and other monies to students in
the form of financial aid.
What does it do? –The Free Application for Federal Student Aid calculates
the Expected Family Contribution (EFC) based upon a formula (Federal
Me
t
hodol
ogy
)t
ha
tus
e
st
hepa
r
e
nt
s
’a
nds
t
ude
nt
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nc
omea
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e
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e
xc
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udi
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hehous
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ndf
a
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ode
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net
hef
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mi
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sa
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yt
opa
yf
orc
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ge
.
PROFILE
Financial Aid Profile
What is it? - A six/seven-page, multi question financial aid application, processed by
College Scholarship Service (CSS), for those colleges (mostly private) that require
additional information, over-and-above the data provided by the FAFSA, prior to
awarding their (college) own grants and scholarships. This application has three (3)
sections.
1. The Registration –A one page form that registers basic information with each
of your chosen colleges that require the PROFILE form.
2. The Application –A four-page form that provides standard financial
information requested by each college that requires the PROFILE form.
3. Section Q –A one/two-page form that provides special financial information
requested by one, or more, of the colleges that require the PROFILE form.
What does it do? - The Financial Aid PROFILE calculates the Institutional EFC
based upon a formula (Institutional Methodology) used to take a more detailed look at the
pa
r
e
nt
s
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nds
t
ude
nt
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si
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ea
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mi
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yf
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m)
.
Created by: Invest In Your Debt, Inc.
58
Other Forms
Institutional Financial Aid Form
What is it? –A one to fourteen-page (depending on the particular college) financial
aid application processed by those colleges (mostly private) that require additional
information, over-and-above the data provided by the FAFSA, prior to awarding their
(college) own grants and scholarships. This application is used instead of the
PROFILE.
What does it do? –The institutional Financial Aid Form calculates the
Institutional EFC based upon a formula (Institutional Methodology) used to take a
mor
ede
t
a
i
l
e
dl
ooka
tt
hepa
r
e
nt
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ude
nt
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si
nc
omea
nda
s
s
e
t
s(
i
nc
l
udi
ngt
he
house and family farm).
1. Which questions are most important to you? Each college has its
own unique Institutional questionnaire, but many questions on these
Institutional forms are merely duplications of the information you will provide
on the FAFSA and/or PROFILE, although they may be worded differently.
Business/Farm Supplement
What is it? –A two-page form processed by those colleges (mostly private) that
require additional information about business or farm income and assets, prior to
awarding their (college) own grants and scholarships.
What does it do? –The Business/Farm Supplement provides a much more
de
t
a
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d(
i
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mi
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ooka
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nd/
ors
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ude
nt
’
sbus
i
ne
s
sorf
a
r
mi
nc
omea
nd
assets.
What questions are most important? –The total of all business
income/assets must match the answers you provided on the FAFSA, PROFILE and
any Institutional form.
Divorce/Separated Supplement
What is it? –A two-page form processed by those colleges (mostly private) that
require additional information about the NON-CUSTODIAL parent and remarried
s
pous
e
’
s(
i
fa
ppl
i
c
a
bl
e
)i
nc
omea
nda
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t
s
,pr
i
ort
oa
wa
r
di
ngt
he
i
r(
c
ol
l
e
g
e
)own
grants and scholarships. The FAFSA and PROFILE applications only request
i
nf
or
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i
ona
boutt
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us
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odi
a
lpa
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e
nt
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e
t
s
.
Created by: Invest In Your Debt, Inc.
59
What does it do? –The Divorce/Separated Supplement provides information
about the NON-CUSTODI
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nta
ndr
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ma
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ds
pous
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ome
and assets, which is not required on the FAFSA, PROFILE or Institutional form.
Which questions are most important? –Since this information is not
r
e
q
u
i
r
e
dont
heFAFSA,PROFI
LEorI
ns
t
i
t
ut
i
ona
lf
or
m,ac
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e
ge
’
sr
e
que
s
tf
ort
hi
s
form usually means they intend to ask the NON-CUSTODIAL family to contribute to
t
hes
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ude
nt
’
se
duc
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tpr
i
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hi
sf
or
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obe
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a
s
tf
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vey
e
a
r
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ort
ot
hes
t
ude
nt
’
s
financial aid application.
SAR
Student Aid Report
What is it? –A six-page form processed by the Federal government that verifies
the information you recorded on the FAFSA. A paper SAR is sent directly to the
family by the Federal government, and electronically sent to each college that you
listed on the FAFSA.
What does it do? –The Student Aid Report serves two (2) important functions:
1. The SAR displays the data you recorded on the FAFSA and allows
you to correct any errors to the information you provided. The
updated data is then sent back to the Federal processor and a new
paper SAR is sent directly to the family, and electronically sent to each
college that you listed on the FAFSA. Additional colleges can be
added to the SAR at this time!
2. The SAR displays the Expected Family Contribution (EFC) number
ba
s
e
dupont
hepa
r
e
nt
s
’a
nds
t
ude
nt
’
sda
t
apr
ovi
de
dont
heFAFSA.
The EFC is located in the upper right hand corner under the date of the
application, as a five digit number without the dollar sign (i.e. EFC:
07852).
What questions are most important? –All questions must be reviewed to assure
that the SAR represents your most accurate data available to you at the time. Also, an
asterisk located next to the EFC number (EFC: 07852*) indicates that your application
has been selected for Verification.
Created by: Invest In Your Debt, Inc.
60
Verification Report
What is it? –A two page Federal government form that is sent to you by each college,
s
i
g
ni
f
y
i
ngt
ha
ty
ou’
vebe
e
ns
e
l
e
c
t
e
df
orve
r
i
f
i
c
a
t
i
on.
What does it do? –The Verification Report requires you to verify the data you
provided on the FAFSA as accurate and up-to-date information.
Which questions are most important? –Be sure to make copies of ALL
financial aid applications for your records. This will ensure that you will be able to
complete the Verification Report accurately.
Created by: Invest In Your Debt, Inc.
61
3 Checklist of Records Needed for Form Preparation
The following is a list of the documents you will need to gather prior to completing the
various financial aid form applications. Since many college deadlines are prior to
February 15th, the assumption is made that your current tax forms are NOT complete and
you will be using estimated data.
 Ac
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pyofy
ourpr
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 Al
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unemployment, lottery, etc)
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 Br
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Created by: Invest In Your Debt, Inc.
62
4 Financial Aid Form Deadline Schedule
COLLEGE
FAFSA
PROFILE
OTHER
IRS
Forms
1
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
2
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
3
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
4
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
5
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
6
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
7
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
8
Is this a required form
What is form due
date?
Y/N
Y/N
Y/N
Y/N
/ /
/ /
/ /
/ /
Spe
c
i
f
i
cf
or
mr
e
qui
r
e
me
nt
sa
ndde
a
dl
i
ne
sc
a
nbef
oundi
ne
a
c
hoft
hec
ol
l
e
g
e
’
s
admissions applications and brochures, or by placing a phone call directly to the college.
Popular guidebooks are often one to two years out of date.
Created by: Invest In Your Debt, Inc.
63
The Appeals Navigator
The Purpose
I
t
’
saFACT!Col
l
e
gec
os
t
sc
a
nbea
ppe
a
l
e
d.Toda
y
,c
ol
l
e
g
e
sa
r
ei
nhe
a
vyc
ompe
t
i
t
i
on
with each other. Although colleges are hesitant to admit it, an outstanding award from
one school will give you the opportunity to appeal for a better award from the other
schools. Use the following sections to navigate the award process and terminology, to
properly position the student to market his/her best attributes to the colleges, and to guide
you through the appeals procedure.
What You Will Do In this Section!
1. Learn how to appeal for an improved financial aid award package using the
s
t
ude
nt
’
suni
quea
bi
l
i
t
i
e
s
,t
hec
ol
l
e
g
e
’
sownpe
r
s
ona
li
nt
e
r
e
s
t
sort
hef
a
mi
l
y
’
s
special circumstances. Review this section to better understand how this process
wor
ksa
ndma
kenot
eoft
hos
ec
a
t
e
g
or
i
e
st
ha
tbe
s
tf
i
ty
ours
t
ude
nt
’
sorf
a
mi
l
y
’
s
profile.
2. Review these checklists of possible appeals strategies and mark those that you can
best use to help lower your cost of college.
3. Learn the components oft
hea
wa
r
dl
e
t
t
e
r
,wha
ty
ou’
r
ebe
i
ngof
f
e
r
e
da
ndwhe
t
he
r
the award is actually beneficial to your pocketbook, or needs to be appealed.
4. Use the included spreadsheet to determine your least, out-of-pocket expense and
whi
c
hc
ol
l
e
g
e
sme
e
ty
our“
TRUE”c
os
tobjective, while providing the student
wi
t
ht
he“
be
s
te
duc
a
t
i
ona
lva
l
ue
”
.
5. Once you decide your award letter needs to be improved you may wish to appeal
your case to the college. Use these letters as a guideline.
What You Can Expect to Accomplish!
Successful completion of this section will allow you to:
♦Appe
a
lf
ora
ni
mpr
ove
df
i
na
nc
i
a
la
i
da
wa
r
dpa
c
ka
ge
.
♦Ac
hi
e
vet
he“
be
s
te
duc
a
t
i
ona
lva
l
ue
”f
ory
ourdol
l
a
r
.
Created by: Invest In Your Debt, Inc.
64
1 A Quick Lesson in Appealing the Cost of College
Since the baby-boome
r
sl
e
f
tt
h
e“
Ha
l
l
sofHi
g
he
rEduc
a
t
i
on”
,ma
nys
c
hool
swe
r
el
e
f
t
with empty seats to fill to meet their operating budget. Most of these schools are
private colleges, looking to compete for the better students with the lower cost public
universities. The following gives you a quick lesson in the appeals process.
Section (2) will explain the strategies of appealing the cost of college.
APPEAL THE COST OF COLLEGE
STUDENTS SPECIAL ABILITIES
GRADES
Valedictorian
Salutatorian
National Merit
SPORTS
NCAA I
NCAA II
NAIA
TALENT
Music
Theater
Speech
COLLEGE’
SPERSONALI
NTEREST
PUBLIC VS PRIVATE
MATCHING THE AWARD
EMPTY SEATS
FAMI
LY’
SSPECI
ALCI
RCUMSTANCES
INDEPENDENT STUDENT
EXTRAORDINARY INCOME
EXTRAORDINARY EXPENSE
Created by: Invest In Your Debt, Inc.
65
2 Strategies Used to Appeal the Cost of College
The following is a list of possible strategies that can be used to appeal your financial
aid award package, and the method to implement them for your benefit. Make note
of those that directly affect your family, as they can reduce your cost of college.
St
ude
nt
’
sSpe
c
i
alAbi
l
i
t
i
e
s
Category: Grades & Talent
Appeals Hints:
1. Continuous improvement in your grades and test scores can score big points with
the colleges. Even if your grades are average, a great senior year comeback can
increase your probability of receiving grants and scholarships.
2. Many colleges accept credit for CLEP or Advanced Placement (AP) courses and
“
Pos
t
s
e
c
onda
r
yOpt
i
on”pr
ogr
a
ms(
c
ol
l
e
gec
l
a
s
s
e
st
a
ke
nwhi
l
ei
nhi
g
hs
c
hool
)
.
Don’
tove
r
l
ookt
he
s
eopt
i
onsf
orr
e
duc
i
ngt
hec
os
tofc
ol
l
e
g
e
.Thes
t
ude
nt
’
s
extracurricular activities and social life may suffer, but the monetary benefits can
be great
3. Be sure you understand the qualifications of the academic or talent grants and
scholarships available at each college. Many have simple prerequisites and
some can even be increased, if you ask.
4. Ac
c
e
pt
a
nc
et
oac
ol
l
e
g
e
’
sHonor
spr
og
r
a
mc
a
nr
e
duc
ey
ourt
ui
t
i
onc
os
tbya
s
much as 50%, and can be a plus on your job resume.
Category: Sports
Appeals Hints:
1. Send a resume of sports achievement to numerous small colleges. Many NCAA
II and NAIA colleges offer sizable grants for athletic ability. If your chances of
becoming a PRO are slim, a sports-paid education may be your best bet.
2. NCAA Division III schools cannot offer athletic grants for students. But the
coaches have more leeway to convince the Financial Aid Officer that your
s
t
ude
nt
’a
t
hl
e
t
eis a solid candidate for additional need-ba
s
e
dmoni
e
s
.Don’
tbe
afraid to ask the coach for help.
Created by: Invest In Your Debt, Inc.
66
Category: Public vs. Private
Appeals Hints:
1. Al
t
houg
hma
nyf
a
mi
l
i
e
sdon’
tbe
l
i
e
vei
t
,apr
i
va
t
ec
ol
l
e
gee
duc
a
t
i
onma
ynotbe
beyond their reach. Private colleges find it difficult to compete with public
universities. To attract good students, the Privates have been known to give
sizable tuition discounts. A trip to the Financial Aid Officer can result in
a
ddi
t
i
ona
lmoni
e
s
.J
us
ta
s
k.“
Howdoy
our
e
wa
r
dag
oods
t
ude
nt
?
”
2. When applying to a private college, be sure to also apply to other colleges that are
competitive in the same area or location, athletic conference or intellectual fields.
Apply to several colleges and increase your opportunity.
Category: Matching the Award
Appeals Hints:
1. Making application to 6-8 colleges allows you to compare awards, and request a
college with a lesser award to match the highest award. A trip to the Financial
Ai
dOf
f
i
c
e
rc
a
nr
e
s
ul
ti
ng
r
e
a
t
e
rr
e
wa
r
ds
,wi
t
h“
pr
oofi
nha
nd.
”
Category: Empty Seats
Appeals Hints:
1. Many private colleges today are victims to lower attendance, mainly due to cost.
Empty seats do not pay their operating budget. Find the quality schools that have
declining enrollments, and ask for additional monies.
Category: Wealthy Alumnus or Contributor
Appeals Hint:
1. Upper-middle class or wealthy families often assume they must pay FULL price
f
orc
ol
l
e
g
e
.Howe
ve
r
,t
he
r
ea
r
ema
nyuna
dve
r
t
i
s
e
da
l
umnior“
s
pe
c
i
a
l
”g
r
a
nt
sa
t
t
hec
ol
l
e
g
e
’
sdi
s
pos
a
lt
oa
t
t
r
a
c
tf
ut
ur
ebe
ne
f
a
c
t
or
s
.At
r
i
pt
ot
heFi
na
nc
i
a
lAi
d
Officer to inquire about these available monies can often provide positive results,
if it wi
l
lg
ua
r
a
nt
e
ey
ourc
hi
l
d’
sf
ut
ur
ea
t
t
e
nda
nc
e
.
Created by: Invest In Your Debt, Inc.
67
Category: Legacy
Appeals Hint:
1. Some colleges c
a
t
e
rt
ot
he
i
ra
l
umnia
ndof
f
e
r“
s
pe
c
i
a
l
”g
r
a
nt
sf
ora2nd 3rd or even
hi
g
he
rge
ne
r
a
t
i
ona
l
umni
.I
fy
ourc
hi
l
dde
c
i
de
st
oa
t
t
e
ndy
oura
l
mama
t
e
r
,don’
t
forget to review these potential grants. Actually, some colleges offer monies for
“
f
i
r
s
tge
ne
r
a
t
i
ons
t
ude
nt
s
.
”I
fy
ourc
hi
l
di
st
hef
i
r
s
ti
ny
ourf
a
mi
l
yt
oa
t
t
e
nd
college, this may be an opportunity to reduce your college cost.
Category: Independent Student
Appeals Hint:
1. Fe
ws
t
ude
nt
sc
a
nc
l
a
i
mi
nde
pe
nde
nts
t
a
t
usa
nde
xc
l
udet
hepa
r
e
nt
s
’i
nc
omea
nd
assets from the Expected Family Contribution (EFC) formula. However, a
Financial Aid Officer (FAO) has the professional discretion to override the
system and declareas
t
ude
nta
s“
I
nde
pe
nde
nt
”
,i
ft
hef
a
mi
l
yha
sahi
s
t
or
yof
social impropriety. This will require proof from the student in the form of a letter
from a psychologist, minister or other professional.
Category: Extraordinary Income
Appeals Hint:
1. The FAO has the professional discretion to exclude one-time income sources (taxonly entries, bonuses, etc.) and treat them as assets only, thereby reducing the
EFC. Document your situation and make an appeal.
Category: Extraordinary Expenses
Appeals Hint:
1. The FAO has the professional discretion to include unusual expenses (high school
tuition, medical, dental, etc.) and reduce your income, thereby reducing the EFC.
Document your situation and make an appeal
Category: Unemployed Parent
Appeals Hint:
1. The financial aid formula uses the base year for income and is often deceiving. If
apa
r
e
nti
sune
mpl
oy
e
ddu
r
i
ngt
hes
t
ude
nt
’
sa
c
a
de
mi
cy
e
a
r
,doc
ume
ntt
he
situation and make an appeal. Mid-year changes to an award are commonplace to
many FAOs.
Created by: Invest In Your Debt, Inc.
68
Category: Student Disability
Appeals Hint:
1. There are many special facilities and grants for students with physical or learning
disabilities. Be sure to check with the FAO at each college.
Category: Parent Attending College
Appeals Hint:
1. The Expected Family Contribution can be reduced almost in half, if one parent
advanced his/her own degree (or certification) by attending college at the same
time as the student. This will give a private college the ability to compete with
a
nys
t
a
t
euni
ve
r
s
i
t
yf
ort
hes
t
ude
nt
’
st
a
l
e
nts, by meeting this additional NEED
with grants. The minimum requirement for the parent is six (6) credit hours for at
least one term, each year.
Category: Unusual Family Circumstance
Appeals Hint:
1. Some families may experience a unique circumstance tha
tdi
s
r
upt
st
hes
t
ude
nt
’
s
progress (divorce/separation, etc.) This factor can often be used to offset poor
grades or test scores. Provide solid documentation.
Created by: Invest In Your Debt, Inc.
69
3 Understanding Your Award Letters
Prior to accepting a Financial Aid Package, there are basic Award Letter
terminologies in which you must be familiar. Understanding these awards and
how they affect your family will allow you to be more effective in appealing for
increased monies.
Types of Gift-Aid
 Fe
de
r
a
lPe
l
lGr
a
nt–grants used to assist low income families
Fe
de
r
a
lSEOG–The supplemental Educational Opportunity Grant is used to
provide additional aid to low income families that receive the Pell Grant
 St
a
t
eSuppor
t
e
dGr
a
nt–Check with the Board of Regents in your State for
these grant qualifications
 Na
t
i
ona
lMe
r
i
tSc
hol
a
r
s
hi
p–Award for a high score on the PSAT
achievement test.
 Di
r
e
c
tCol
l
e
g
eSc
hol
a
r
s
h
i
p–Various awards given to outstanding scholars,
s
uc
ha
st
he
:De
a
n’
s
,Honor
’
s
,Pr
e
s
i
de
nt
’
s
,Founde
r
’
s
,Tr
us
t
e
e
’
s
,Fa
c
ul
t
y
,
Valedictorian, Salutatorian, Meritous, Distinguished or Academic Scholarship;
and scholarships named after a Benefactor or Endowed Program.
 Di
r
e
c
tCol
l
e
g
eGr
a
nt–Various grant-in-aid monies, used to recruit students
with sports, talent or leadership abilities.
 Tui
t
i
onDi
s
c
ount–Need-based grants (named after the college) used to attract
the better students.
Types of Self-Help
 Fe
de
r
a
lPe
r
ki
nsLoa
n–A 5% interest need-based student loan in which the
interest is subsidized (paid for) by the Federal government until six months after
graduation or dropping to less than half time.
 Fe
de
r
a
lSubs
i
di
z
e
dSt
a
f
f
or
dLoa
n–A low interest need-based student loan in
which the interest is subsidized (paid for) by the Federal government until six
months after graduation or dropping to less than half time.
 Fe
de
r
a
lUns
ubs
i
di
z
e
dSt
a
f
f
or
dLoa
n–This student loan is not subsidized by
the Federal government. The interest must be repaid immediately, or can be
deferred (but will accrue) until graduation or dropping to less than half time, when
repayment must begin.
Created by: Invest In Your Debt, Inc.
70
 PLUSLoa
n–Thi
spa
r
e
nt
s
’l
oa
ni
snotas
ubs
i
di
z
e
dl
oa
n.I
tmus
tber
e
pa
i
d
immediately or can be deferred (but will accrue) until graduation, then full
payments must begin.
 Fe
de
r
a
lWor
k-Study –On-campus jobs that the college makes available to
eligible students, but only on a first-come, first served basis. Apply as directed on
your campus.
On the next page, Section 3a demonstrates a breakdown of the various types of
aid and how they may appear on your Award Letter. This will give you a
guideline to analyze your own personal Financial Aid Package to make a
determination as to which awards are reasonable, and which may need to be
appealed.
Created by: Invest In Your Debt, Inc.
71
UNIVERSITY
OF USA
3a
John Doe
121 N. Main Street
Plentywood, MT
59254
Date: April 17, 2007
ID#: 301-44-0000
Expenses:
Tuition & Fees
Room & Board
$14,200
$4,300
Books & Supplies
Travel
Other
Total Expenses
$600
$1,400
$1,100
$21,600
Expected Family Contribution:
Parents Contribution
$1,500
Student Contribution
$320
Family
Contribution
$1,820
The University of USA is pleased to offer you the following financial assistance for the
2007/08 academic
year.
Awards &
Resources
Federal Pell Grant
Federal SEOG
Deans Scholarship
U of USA Grant
State Choice Grant
Federal Work Study
Federal Stafford
Loan
Federal Perkins
Loan
PLUS Loan
(Optional)
Total Awards
Total
Fall
Spring
$520
$1,000
$2,000
$10,135
$500
$1,500
$260
$500
$1,000
$5,067
$250
$750
$260
$500
$1,000
$5,068
$250
$750
$2,625
$1,313
$1,312
$1,500
$750
$750
$1,820
$21,600
$910
$10,800
$910
$10,800
A PLUS loan (Parent's Loan for Undergraduate Students) is not Need-based financial aid and
can be received by any family up to the Total Cost of College, minus any other aid received
Created by: Invest In Your Debt, Inc.
72
University of USA Award Letter Analysis
Needs
Analysis
Total Cost
$21,600
EFC
Need
Need-Based Aid
% Need Met
% Gift-Aid
% Self-Help
True Cost
$1,820
$19,780
$19,780
100%
72%
28%
$7,445
Created by: Invest In Your Debt, Inc.
Student Award
Gifts
$14,155
Need-Based
Loans
$4,125
Work/Study
$1,500
Total Need-Based
Financial Award
$19,780
PLUS Loan
Total Award
73
$1,820
$21,600
4 Comparing Your Award Letters
The following schedule will help you determine the TRUE cost of each college
and which college award will provide the least out-of-pocket expense to your
family. Record the total amount of each category (grants, loans, work study) for
every award letter and compare the results for each college.
College
Example from 3a
on previous page
A
B
C
D-1
E-2
Total
Cost of
Total
Grants/
Scholarshi
p
Total
Work
Total
"TRUE"
F-3
Family
Out-of
Pocket
Study
Loans
Cost
Expense
College
$21,600
$14,155
$1,500
$4,125
$7,445
$1,825
1
$
$
$
$
$
$
2
$
$
$
$
$
$
3
$
$
$
$
$
$
4
$
$
$
$
$
$
5
$
$
$
$
$
$
6
$
$
$
$
$
$
7
$
$
$
$
$
$
8
$
$
$
$
$
$
1
2
3
Do NOT include PLUS or Unsubsidized Stafford loans in this total.
2“
TRUECOST”(
E)=A-B
Family Out-of-Pocket Expense (F) –A-(B/C/D)
Created by: Invest In Your Debt, Inc.
74
5 Appealing Your Award Letters –Sample Letter
Ms. Karen Smith
Chief Financial Aid Officer
Name of College
1000 Main Street
City, State, Zip Code
RE: Financial Award Letter for Heath Jones, 300-44-1919
5/16/2007
Dear Ms. Smith,
Ourf
a
mi
l
ywoul
dl
i
ket
ot
ha
nky
ouf
orHe
a
t
h’
sr
e
c
e
ntf
i
na
nc
i
a
la
i
da
wa
r
dl
e
t
t
e
r
;
however, we are very concerned with the results. Our family contribution has
dropped from $20,365 in 2006/2007 to $6,987 in 2007/2008, yet your award package
l
e
f
tuswi
t
ha
ddi
t
i
ona
lne
e
dofove
r$8,
500.Ther
e
duc
t
i
oni
nt
hi
sy
e
a
r
’
sEFCi
sduet
o
a reduction in assets plus the fact that we will be sending two students to college
during the 2007/2008 year. Still, the amount of the current award is essentially the
same as the one in 2005/2006.
Every college publication on the market suggests that (Name of College) meets about
95% ofi
t
ss
t
ude
nt
’
sne
e
da
ndweha
ves
e
e
n(
Na
meofCol
l
e
ge
)Awa
r
dLe
t
t
e
r
ss
e
ntt
o
high school seniors in our area that substantiate this number. I would think that
(Name of College) would choose to reward a present student (with a 3.4 average in
2006) with an award package equal to, or better than an incoming freshman.
It will be financially difficult for us to continue to send Heath to (Name of College)
without a major increase in the amount of aid awarded to date.
We would appreciate your review of our circumstances and a response to our present
award package as soon as possible, so that we may begin to make alternative
arrangements, if necessary.
Sincerely,
Gina Jones, for Heath Jones
Created by: Invest In Your Debt, Inc.
75
5a Appealing Your Award Letters –Sample Letter
Ms. Linda Anderson
Director of Financial Aid
Name of College
5000 Main Street
City, State Zip Code
RE: Financial Award Package for Heather Smith, SS# 100-44-1919
5/28/2006
Dear Mrs. Anderson,
Enc
l
os
e
di
sourSt
ude
ntAi
dRe
por
ta
ndac
opyof(
Anot
he
rCol
l
e
g
e
’
s
)Awa
r
dLe
t
t
e
r
pe
ro
urr
e
c
e
ntt
e
l
e
phonec
onve
r
s
a
t
i
on.Wedi
s
c
us
s
e
dourf
a
mi
l
y
’
spr
e
s
e
ntfinancial
situation and how it would be financially very difficult for Heather to attend (Name of
College) unless there is a major reconsideration for financial assistance. You stated
that you would do everything possible to provide additional assistance for Heather
and suggested that we send you the above stated information.
As you know, Heather is a very talented young lady and desperately wants to attend
y
ou
rs
c
hool
;howe
ve
r
,a
st
hee
nc
l
os
e
d(
Anot
he
rCol
l
e
g
e
’
s
)Awa
r
ds
hows
,ot
he
r
schools have committed s
ubs
t
a
nt
i
a
l
l
ymor
emone
yf
orHe
a
t
he
r
’
se
duc
a
t
i
on.
Both my wife and I recently obtained new jobs in 2006, and are trying to catch up
with the debt we incurred while unemployed over the past year. This has forced us to
take a serious look at the (Another Col
l
e
g
e
’
s
)Awa
r
da
sa
ne
c
onomi
c
a
l
l
yvi
a
bl
e
alternative to (Name of College).
However; Heather would dearly love to attend (Name of College). If there is any way
y
ouc
a
nme
e
t(
Anot
he
r
’
sCol
l
e
g
e
’
s
)a
wa
r
d,He
a
t
he
rwi
l
lc
ommi
tt
oa
t
t
e
ndi
n
gy
our
school for the 2006/2007 season.
Please contact me as soon as possible so that we can make the appropriate
a
r
r
a
nge
me
nt
sf
orHe
a
t
he
r
’
sf
u
t
u
r
e
.
Sincerely,
Paul Smith, for Heather Smith
Created by: Invest In Your Debt, Inc.
76
6 Final tips About Appealing the Cost of College
Regardless of the strategies t
ha
ta
r
euni
quet
oy
ourf
a
mi
l
y
’
spr
of
i
l
e
,t
he
r
ea
r
es
e
ve
n
(7) universal steps that you need to take in order to maximize your appeals success.
 Pos
i
t
i
ont
hes
t
ude
nti
nt
het
op25% oft
hei
nc
omi
ngf
r
e
s
hme
nc
l
a
s
s
.
 Ma
t
c
ht
hes
t
r
ongpoi
nt
soft
hes
t
udent to each college.
 Bes
ur
ey
ourExpe
c
t
e
dFa
mi
l
yCont
r
i
but
i
oni
sa
sl
owa
spos
s
i
bl
e
.
 Appl
yf
orf
i
na
nc
i
a
la
i
da
se
a
r
l
ya
nda
sa
c
c
ur
a
t
e
l
ya
spos
s
i
bl
ea
f
t
e
rJ
a
nua
r
y1st.
 Appl
yt
oa
tl
e
a
s
t6c
ol
l
e
g
e
st
oi
nc
r
e
a
s
ey
ourf
i
na
nc
i
a
la
i
doppor
t
uni
t
y
.
 Appl
yt
oc
ol
l
e
ge
st
ha
tf
i
l
lt
hehi
g
he
s
tpe
r
c
e
nt
a
geofNEED.
 Don’
tbea
f
r
a
i
dt
ovi
s
i
tt
heFi
na
nc
i
a
lAi
dOf
f
i
c
e
rore
ve
nt
heAdmi
s
s
i
ons
Of
f
i
c
e
rt
opol
i
t
e
l
ya
s
kf
ormor
egr
a
ntors
c
hol
a
r
s
hi
pmone
y
.I
fy
oudon’
tt
r
y
,y
ou
won’
ts
uc
c
e
e
d.
Following these simple routines will guarantee your child the very best educational
opportunity, for the least possible cost.
The Best of Luck!!
Created by: Invest In Your Debt, Inc.
77
Appendix A
Calendar of Events
Freshman/Sophomore Year Calendar
Check off each box as you complete each suggestion.
Freshman Plan

Develop a recommended class schedule of college preparatory courses according
to your planned college major. Contact your guidance counselor for assistance

Establish strong study habits and commit to a consistent study routine.

Work on effective time management techniques.

Become involved in a community service project.

Work to enhance your vocabulary skills and your writing abilities.

Learn to use the library effectively, including computer research.

Investigate possible extracurricular activities for your Resume of Achievement.

Begin to think about your sophomore class schedule.
Sophomore Plan

Continue to keep your grades up.

Continue to be involved in a community service project.

Sign up for extracurricular activities –aim for leadership roles.

Consider the teachers from whom you will request recommendations.

Take the PSAT for the first time.

Plan your junior class schedule.
Created by: Invest In Your Debt, Inc.
78

Begin to look for a summer job to help pay for college.

Improve your reading skills over the summer –include newspapers and
magazines.
Junior Year Calendar
September thru December

Review your cumulative grade point average.

Take the PSAT for the second time.

Continue to be involved in a community service project.

Attend a local College Fair.

Review the Career Search Navigator.

Discuss possible career interests with parents.

Pre-register for the ACT/SAT Achievement Tests.

Review the ACT/SAT Test Prep Navigator.

Take the ACT/SAT Achievement Tests.

Write for catalogs and admissions/financial aid information.
January thru May

Review the EFC Navigator to initiate timely strategies.

Review the College Selection Navigator.

Develop a list of colleges and begin your college selection process.

Review the College Visitation Navigator.

Begin to plan your college visits.

Begin your career interest analysis, research and expert interviews.
Created by: Invest In Your Debt, Inc.
79
Senior Year Calendar
September thru October

Review the Career Search Navigator, again.

Update your career interest analysis, research and expert interviews.

Review the College Visitation Navigator, again.

Continue to be involved in a community service project.

Plan your college visits, including the various interviews, to narrow the field.

Review the ACT/SAT Test Prep Navigator, again.

Take the ACT/SAT Achievement Tests, again, if necessary.

Review the Admissions Navigator.

Develop a list of references for the Admissions package.

Prepare a list of extracurricular activities for the Admissions package.

Prepare your essay for the Admissions package.

Prepare your Resume of Outstanding Achievement for your Admissions package.

Check with your Guidance Department to apply for local scholarships.
November thru December

Request the recommendations from your teachers for you Admissions package.

Give your Admissions packages to the Guidance Department to add your
transcript.

Be sure that you know the filing deadlines for both Admissions and Financial
Aid.

Apply for admissions to at least six colleges to increase your financial aid
opportunity.

Review the EFC Navigator to ensure all strategies have been implemented.
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80

Review the Financial Aid Form Navigator to assure an accurate filing.

Pick up the necessary Financial Aid Applications from the Guidance Department.

Complete all Financial Aid Applications and mail prior to the earliest college
deadline.
January thru May

Review the Student Aid Report (SAR) and make notes of your EFC.

If the SAR is incorrect, return to Processor with corrections.

If the SAR is correct, hold and send to the college of your final choice.

Send the Verification and IRS forms to each college requesting verification.

Review all financial aid packages sent from the colleges.

Review the Appeals Navigator for all relevant strategies.

If housing deposit is NOT mandatory, request an extension until final decision is
made.

If housing deposit is mandatory, be sure to send request for refund within
deadline.

Review final financial aid award offers and make your final decision.

Send in the signed financial aid award offer with the SAR to your final college
choice.

Send in the deposit and final grade transcript to your final college choice.

Send in all pertinent loan applications to your final college choice.
Created by: Invest In Your Debt, Inc.
81
Appendix B
Glossary of College Terminology
American College Testing (ACT): A need analysis service located in Iowa, responsible
for processing the FAFSA form, commonly known as the Free Application for Federal
Student Aid. ACT is also responsible for administering the ACT scholastic exams.
Academic Year (AY): Usually based on semesters or quarters and frequently begins with
the fall semester/quarter, includes the spring semester or winter/spring quarters. Summer
can be a header or a trailer.
Accrued Interest: Interest that accumulates on loans and must be paid back at a later
date. Specifically relates to Federal PLUS loans and Federal Unsubsidized Loans.
ADC or AFDC: Aid to Dependent Children or Aid to Families with Dependent
Children. Government benefit programs, similar to welfare programs.
Adjusted Gross Income (AGI): The income figure taken from the IRS income tax
forms and required on the various financial aid applications.
Allocation: The amount of money given to an institution by the Department of
Education for the purpose of funding campus-based program administered by that
institution.
Asset Protection Allowance: An asset allowance used in the calculation of the Expected
Family Contribution. Specifically determined by the age of the oldest parent.
Award Letter: The official means of notifying financial aid applicants of the assistance
being offered. The award letter shows the types and amounts of aid offered as well as
specific program information, student responsibilities and the conditions which govern
the award. It also provides students with the opportunity to accept or decline the aid
offered.
Award Year: The beginning and end date for which the student receives aid.
Base Year: The period starting January 1 and ending December 31 of the year preceding
the application period.
College Scholarship Service (CSS): Need analysis service, located in Princeton, NJ,
which distributes the Financial Aid PROFILE, a financial aid form used mostly by
selective private colleges. CSS also administers the SAT scholastic exam.
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College Work Study (CWS): A federally funded program that provides college monies
to students through employment in exchange for service to the university, state or another
agency.
Default: When a borrower fails to make payments on a loan, or has failed to comply
with other terms of the loan agreement.
Deferred Admission: A student with financial, personal or work-related concerns can
defer or postpone their enrollment for up to one year.
Dependent Student: A student whodoe
snotme
e
ta
nyoft
heDe
pa
r
t
me
ntofEduc
a
t
i
on’
s
criteria for an independent student generally would be classified as a dependent student
and would report parent information when applying for Federal Student Aid.
Deferred: Contractually suspending the payment of a loan until a later period of time.
However, the interest will accrue (build up) and be added to the total repayment.
Early Action: The student can apply to a college by an early deadline to guarantee their
admission, without obligating themselves to attend that college.
Early Decision: The student can apply to a college by an early deadline to guarantee
their admission, but is obligated to attend that college under a binding contract.
Early Entrance: The student can be accepted, admitted and enrolled prior to high
school graduation. Many colleges use this guarantee to attract better students.
Expected Family Contribution (EFC): An amount derived from information provided
on the free application for Federal Student Aid which is then applied to a formula
specified in law. Theoretically, a student and family should be able to provide this
a
mountt
owa
r
dme
e
t
i
ngt
hes
t
ude
n
t
’
sc
os
tofa
t
t
e
nda
nc
ea
tapos
t
-secondary school. (In
reality, you may or may not be able to provide the EFC but it is the number used in the
Cost minus EFC equals need calculation.)
Federal Direct Loan: Federal college loan program in which the lender is the federal
government, and the college administers the loan direct to the family.
Federal Family Educational Loan Program: Federal college loan program in which
the lender and the administrator is a bank, credit union or other private lender.
Federal Methodology: Formula developed by Congress and defined by statute, used to
assess bot
ht
hepa
r
e
nt
s
’a
nds
t
ude
nt
’
si
nc
omea
nda
s
s
e
t
si
nor
de
rt
ode
t
e
r
mi
net
he
Expected Family Contribution. Does not consider the home, or family farm, as an asset.
Financial Aid Budget: The Financial Aid Budget is a breakdown of how the college
determines the total cost of attendance.
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83
Financial Aid Profile (PROFILE): An institutional information form distributed by
CSS. Some colleges may require the PROFILE in addition to the FAFSA to help them
determine the financial aid package.
Financial Aid Form Acknowledgment (FAFACK): A letter sent to the student telling
him the CSS has processed his PROFILE. Mailed separately from the Student Aid
Report (SAR), the acknowledgment gives the student a list of the colleges to whom the
SAR was se
nta
ndwhi
c
hone
sr
e
qui
r
ea
ddi
t
i
ona
li
nf
or
ma
t
i
on(
s
uc
ha
s1040’
s
,e
t
c
.
)Thi
s
form also allows the student to request his financial information be sent to additional or
different colleges.
Financial Aid Form Need Analysis Report (FAFNAR): A report transferred
electronically directly to the college from CSS. It contains information from the
PROFILE.
Financial Aid Officer (FAO): The chief financial administrator at each college
responsible for determining financial aid packages.
Financial Aid Package: The total amount, and type, of aid that a student will receive
from one school. It can consist of a variety of programs including federal and state
funded grants and loans, college based programs and any additional aid programs the
college may make available to the student.
Free Application for Federal Student Aid (FAFSA): The only financial aid form used
to calculate the Expected Family Contribution (EFC), which is used to determine the
amount of federal and state funds the student is eligible to receive.
Full-Time: A student that is enrolled for at least 12 hours during a quarter or semester.
GPA: Grade Point Average
Guaranteed Student Loan (GSL): Now known as the Stafford Loan.
Gift Aid: Financial aid that does not require repayment or work to be performed (i.e.
grants & scholarships).
Grace Period: The length of time that begins when a loan recipient graduates or ceases
to be enrolled on at least a half-time basis and ends when the repayment period starts, or,
in some loan programs, the period of time when a deferment ends and loan payment is
scheduled to resume. Loan principal need not be paid and interest does not accrue during
this period.
Graduate and Profession School Financial Aid Service (GAPSFAS): A need analysis
service dealing strictly with the graduate or professional student.
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84
Guaranty Agency: A state or private institution or organization which administers
student loan, insurance or governmental guarantor programs for the federal government.
Half-Time: A student that is enrolled for at least 6 hours during a quarter or semester.
Housing Index Multiplier Table: A verification formula used by the FAO to determine
the value of a home based on a national average. The formula uses the year the house
was purchased and the purchase price to establish a current value, referred to in
government terms as the Implicit Price Deflator.
Independent Student: A student must meet one or more of the following Department of
Education criteria; 1. Be at least 24 years of age by December 31st of their upcoming
college academic year. 2. Be an orphan or ward of the court through the age of 18 3. Be
a veteran of the U.S. Armed Forces. 4. Have legal dependents other than a spouse or a
child. 5. Be married. 6. Be a graduate or professional student. 7. Be judged
independent by the Financial Aid Officer due to unusual circumstances. 8. Have a child
for whom you provide more than half of the support.
Institutional Methodology: An alternative method of needs analysis, used mostly by
privatec
ol
l
e
g
e
s
,t
ot
a
keamor
ede
t
a
i
l
e
dl
ooka
tt
hef
a
mi
l
y
’
si
nc
omea
nda
s
s
e
t
s
,pr
i
ort
o
disbursing their own grants and scholarships. Considers the home, or family farm, as an
asset.
Merit-based Aid: Financial aid that is awarded to a student based primarily on any
special talents that the student may have (i.e., academics, athletics). May also be referred
to as non need-based aid.
Need: Thedi
f
f
e
r
e
nc
ebe
t
we
e
nt
heTot
a
lCos
tofCol
l
e
g
ea
ndt
hef
a
mi
l
y
’
sExpe
c
t
e
d
Family Contribution.
Needs Analysis: Methodus
e
dt
ode
t
e
r
mi
neas
t
ude
nta
ppl
i
c
a
nt
’
sne
e
d from financial
assistance to help meet his educational expenses.
Need Analysis Form: Form completed by an applicant and family for a need analysis
service. The form collects data for the need analysis computations. The most common
forms are the FAFSA and the PROFILE.
Need-based Aid: Financial aid which is awarded solely on the financial need of the
student and his family.
Off-Campus Student: Student who lives in a house or apartment during the academic
year, as opposed to living on campus. Used as a budget classification.
On-Campus Student: Student who lives in institutional housing during the academic
year. Used as a budget classification.
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85
Origination Fee: A processing fee charged to the student, and deducted from the loan
proceeds prior to disbursing the balance to the college.
Parent Contribution (PC): Ba
s
e
dont
hepa
r
e
nt
’
si
nc
omea
nda
s
s
e
t
s
,t
hi
si
soneoft
wo
factors used to determine the Expected Family Contribution or EFC (PC+SC=EFC). The
PC is calculated from the information on the FAFSA.
Pell Grant: Grant program funded by the federal government. The maximum award is
set annually. Limits change from year to year.
Perkins Loan: A need-based, 5% interest loan subsidized by the federal government.
Repayment starts six months after the student graduates or leaves school.
PLUS Loan: A creditworthy loan for education which parents can borrow on behalf of
their dependant children. Loans are made by commercial lenders such as banks or credit
unions.
Professional Judgment: A rule that allows the Financial Aid Officer to make a personal
decision to adjust the EFC calculation data elements, based upon unique or special
c
i
r
c
ums
t
a
nc
e
s
,t
oa
l
l
owamor
ea
c
c
ur
a
t
ea
s
s
e
s
s
me
ntoft
hef
a
mi
l
y
’
sf
inancial condition.
Regular Admission: The student applies for admissions under normal deadlines.
Rolling Admissions: The student can apply for admissions at various times during the
year and is under no deadlines.
Satisfactory Academic Progress: Progress required of a financial aid recipient in
acceptable studies or other activities to fulfill a specified educational objective.
Self-help: Aid that must be repaid either through financial obligation or service to the
university (or state) i.e., loans, work study
Simplified Need Test: A formula that is an exception to the Federal Methodology.
Parents and students that earn under $100,000 of Adjusted Gross Income per year and file
a 1040EZ or 1040A tax form can use the Simplified Need Test. This test does not
i
nc
l
udet
hepa
r
e
nt
s
’ors
t
ude
nt
’
sa
s
s
e
t
swhe
nde
t
e
r
mi
ni
ngt
heEFC.
Student Aid Report (SAR): Theof
f
i
c
i
a
lr
e
s
ul
t
sf
r
om pr
oc
e
s
s
i
ngt
hes
t
ude
nt
’
sFr
e
e
Application for Federal Student Aid (FAFSA). The report shows the official Expected
Family Contribution (EFC). It must be submitted to the financial aid office at the
institution the student chooses to attend, in order for the student to receive payment under
the Pell Program or other types of need-based aid.
Student Contributions (SC): Based ont
hes
t
ude
nt
’
si
nc
omea
nda
s
s
e
t
s
,t
hi
si
soneof
two factors that determines the Expected Family Contribution or EFC (PC + SC = EFC).
The SC is calculated from the information on the FAFSA.
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86
Subsidized Stafford Loan: A need based, low-interest loan that is subsidized by the
Federal government. Interest and payments on the loan do not begin until after the
student graduates or drops to less than half time.
Supplemental Educational Opportunity Grant (SEOG): A grant for extra needy
undergraduate students. SEOGs are granted in the $100 to $4000 range. The college
determines how these moneys are distributed.
Unmet Need: Whe
nt
hes
t
ude
nt
’
st
ot
a
lf
i
na
nc
i
a
la
i
da
wa
r
ddoe
snote
qua
l100% oft
he
official calculated Need.
Unsubsidized Stafford Loan: A loan available to students regardless of need; however,
the interest will not be subsidized by the government and begins to accrue immediately.
Verification: The process of checking the accuracy of the information supplied by
students when they apply for federal student aid. Colleges are required by the federal
government to verify 30% of their aid applications.
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87
DISCLAIMER
The HOW TO SEND YOUR CHILD (or Grandkids) TO COLLEGE
WITHOUT GOING BROKE book are meant to help you save money on
your spending so you can use the money for other purposes. Great amounts
of research and effort have gone into compiling this information and
ensuring its accuracy. While the authors utilize many of the principles and
ideas set forth, please be advised there may be mistakes, both typographical
and in content, so it is up to you, the student of these materials to treat this
book as a source of ideas but not as unquestionable truth.
Equally important, the authors cannot anticipate every possible situation and
condition where information from the HOW TO SEND YOUR CHILD (or
Grandkids) TO COLLEGE WITHOUT GOING BROKE book could be
used and therefore cannot predict all possible outcomes of using this
information.
It is possible in some circumstances that specific tips would not be valid or
would be false. It is therefore, the responsibility of the student or reader of
these materials to decide for themselves whether advice from this course is
appropriate for t
her
eader
’
susei
ngeneral and specific circumstances.
The reader must determine potential risk for any course of action and accept
that risk on their own accord if he or she proceeds. It is also the
st
udent
’
scompl
et
eresponsibility to test and verify Spend Smart advice
before using advice that could result in physical harm and/or financial loss.
The author and publisher shall have neither liability nor responsibility
to any person, group, or entity with respect to any loss or damage
caused, or alleged to be caused, directly or indirectly by information
contained in this book. If you are unwilling to accept complete
responsibility for your use and application of any information contained
in the HOW TO SEND YOUR CHILD (or Grandkids) TO COLLEGE
WITHOUT GOING BROKE book and are unwilling to be bound by all
of the above, please return all materials to IYD for a full refund.
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88