College-bound students, and their parents, are making smart decisions when choosing undergraduate colleges. Even when students get into their first-choice colleges, students are carefully reviewing scholarship and financial aid offers and opting not to jump into huge debt at the more prestigious institutions.
Students are more cognizant of the long-term financial effect of student debt on purchasing their first homes, starting families, and building personal portfolios. It used to be that students would insist on going to the most selective college and parents would dip into their home’s equity or retirement savings to grant their children’s and their own bragging rights. Not anymore.
Over the past few years (even pre-COVID-19), students have been opting for in-state public universities when financial aid offers at the ivies and other selective colleges didn’t substantially reduce the tuition cost. This is especially true for students who intend to pursue higher degrees.
I believe students can get an excellent education and great prospects for higher ed and great careers without paying exorbitant fees ($300,000+). By organizing a comprehensive 4-year plan, students can take interesting classes (and their prerequisites) while satisfying major and general ed requirements, and still do research, internships, and clubs.
In addition to gaining the experience and knowledge through their undergraduate programs, students can also do projects to demonstrate their acumen and potential to future admissions committees and employers. It’s not so much about the college as it is about the student.
Glad to see students making well-thought out decisions based on what they need and want, and not on the US News and World rankings.
College-bound students, and their parents, are making smart decisions when choosing undergraduate colleges. Even when students get into their first-choice colleges, students are carefully reviewing scholarship and financial aid offers and opting not to jump into huge debt at the more prestigious institutions.
Students are more cognizant of the long-term financial effect of student debt on purchasing their first homes, starting families, and building personal portfolios. It used to be that students would insist on going to the most selective college and parents would dip into their home’s equity or retirement savings to grant their children’s and their own bragging rights. Not anymore.
Over the past few years (even pre-COVID-19), students have been opting for in-state public universities when financial aid offers at the ivies and other selective colleges didn’t substantially reduce the tuition cost. This is especially true for students who intend to pursue higher degrees.
I believe students can get an excellent education and great prospects for higher ed and great careers without paying exorbitant fees ($300,000+). By organizing a comprehensive 4-year plan, students can take interesting classes (and their prerequisites) while satisfying major and general ed requirements, and still do research, internships, and clubs.
In addition to gaining the experience and knowledge through their undergraduate programs, students can also do projects to demonstrate their acumen and potential to future admissions committees and employers. It’s not so much about the college as it is about the student.
Glad to see students making well-thought out decisions based on what they need and want, and not on the US News and World rankings.
Did you know that many scholarships disappear after freshman year? Make sure that the scholarship is renewable each year for 4 years to cover you throughout your undergraduate education.
Here are some red flags to watch for:
- One-time scholarships for visiting the college campus or interviewing with admissions officers
- Others require that you maintain a certain GPA or other codes of conduct
- Colleges could replace a grant (free money) with a loan after freshman year when the students have higher federal student loan limits
- Family finances change: siblings graduate from college or move out of the family home (increases parents’ ability to pay)
With a 4-year undergraduate degree costing between $100K-$300K, make sure that you can afford to complete your education BEFORE you start. Meet with your financial aid officer to discuss your financial aid offer. Because college tuition increases about 3% each year, consider how you plan to pay for tuition, room and board, and other expenses.
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Until recently, international students always paid full fare for their privilege to attend American colleges and universities. But that is changing because colleges are seeking those higher-caliber international students. To be competitive, colleges are offering scholarships to attract those top-notch students from abroad.
At public colleges, there’s been a bit of a backlash from in-state families because legislatures and constituents want public colleges to cater to the taxpayers who finance these institutions. Makes sense. So some public colleges offer modest non-need based scholarships to students they hope will matriculate to their colleges. These students receive scholarship dollars to offset the out-of-state tuition fees, but they rarely ever get a full ride (all tuition and housing fees). That’s reserved for well-deserving in-state students!
Private colleges, on the other hand, have more leeway to offer scholarships because their institutions don’t rely on public funds from taxpayers. So they don’t deal with politics the way public colleges do. If the college really wants a particular student, they now offer scholarships – even full rides – to sweeten the offer. That’s just like they do to entice American students to attend their colleges.
By giving scholarships to international students, it helps create a more global community of students who learn to work together as they prepare to solve major issues that we face as a civilization.