financial aid presentation to high school families
TRANSCRIPT
The premier source of unbiased information, educating families on the path through high school and beyond.
ARE YOU PREPARED?
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The cost of a college education
is a major investment:
$80,000 - $240,000
BECOME AN EDUCATED CONSUMER
$240,000
TUFTS
05/01/2023 Slide 3
Road2College — Who Are We?
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Content providers focused on the intersection of college admissions and affordability
We cut through the sea of information to organize, annotate, and simplify information from the most relevant resources into easy to understand concepts and language
We delivery value-added content to parents, counselors, independents, and non-profits
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THE CHANGING WORLD OF ADMISSIONSSchool 2005 Admissions
Rates2014 Admissions
RatesBrown 16% 8.6%Columbia 12% 6.95%Cornell 31% 14%Yale 11% 6.3%Harvard 11% 5.9%Tufts 27% 17.4%Penn 29% 9.9%Wash U 20% 17%Amherst 18% 13%Vanderbilt 40% 13%
Applications have increased 30% - 80%.
Increased applications from foreign students.
Peak number of high school graduates.
Increase in number of high school students pursuing college. 4
(EFC) Estimated Family Contribution, FAFSA, CSS, PLAN,
ACT, SAT, PLUS, Stafford, Need Blind,
Net price, Sticker price, SAR, Early
Decision, Early Action
YOU DON’T KNOW WHAT YOU
DON’T KNOW
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Expected Family Contribution (EFC) It’s not one number but four different calculations.
UNDERSTAND EXPECTED FAMILY CONTRIBUTION
Student Income
Parent Income
Parent Assets
Student Assets
Parental assets assessed at 5.6% vs. 20% for student assets.
Parent Income Parent Assets Child’s Income Child’s Assets Number in College Family Size Age of Oldest Parent Types of Assets Tax Filing Status Family Structure
Home Equity Other Children’s Assets Cars You Own Other Assets Other Tuitions Other Questions Business Assets
Federal Method Institutional Method
Impact on EFC Outcome
DIFFERENT METHODOLOGIESEXPECTED
FAMILY CONTRIBUTION
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Jones Family has an EFC of $24,000
EXAMPLE EXPECTED FAMILY CONTRIBUTION
School 1
EFC: $24,000
Cost of Attendance: $52,000
Potential Fin Aid Award: $28,000
School 2
EFC: $24,000
Cost of Attendance: $19,000
Potential Fin Aid Award: $0
Students in the top 25% to 33% of applicants will capture the best financial aid packages.
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Finding Net Price Calculators
RESOURCES FORECASTING & COMPARING
Comparing College Costs
EFC – COA = Net Price
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Create a list of 8 – 10 colleges made up ofLikely, Target, Reach, Financial Safety, Merit Potential
PLANNING CREATING A COLLEGE LIST
Resources to build your list & guide you through the process…
The best defense is a good offense – build a great college list!
Common Data Set A collaborative effort between publishers (the College Board, Peterson’s, and US News & World Report) and the educational
community
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RESEARCHING WHAT INFORMATION TO LOOK FOR AND WHERE
Custom College RankingsOnline spreadsheet with IPEDS Information, with ability to filter and
sort and ranked based on a custom methodology
DYI College RankingsInformation based on Acceptance Rates, Graduation Rates,
Ethnicity, COA, Majors, Athletics
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Increase your odds with high grades and test scores AND applying to the “right” school.
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EXAMPLE HOW TO FIND MERIT AID
Find schools that have the money AND are likely to give it away.Sort by endowment per student, % of students receiving institutional grants, avg institutional grant size, % of freshman receiving non-federal loans & CDS data.
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Try to visit while school is in session.
LISTEN COLLEGE VISITS
Play close attention to language used and emphasize
Research beforehand and come prepared with questions to ask
Write down impressions right away
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The Perfect Score Project – book & website
TEST PREP ADVICE FROM A PRO
Plan a full year in advance to prepare.
Having a solid foundation is the best test prep possible.
Use official College Board materials as practice exams.
Build endurance – take 10 to 15 pracitce tests.
TEST PREP
www.perfectscoreproject.com
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RESOURCES BECOME AN EDUCATED CONSUMER OF HIGHER ED
SEARCHwww.diycollegerankings.com
www.customcollegerankings.comwww./tractusinsight.com
www.admitted.lywww.possibilityu.com
FINANCE
www.bigfuture.collegeboard.org/pay-for-college/paying-your-share/expected-family-contribution-
calculatorwww.collegeabacus.com
http://studentnpc.collegeboard.org/participating-schools
www.Road2College.com
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ARE YOU
READY TO HELP
YOUR CHILD THROUGH THE
COLLEGE ADMISSIONS PROCESS?
Sign up at www.Road2College.com