Campus Pathway

The Different Ways to Apply to College

Early Action and Early Admission

While most people talk about early admissions programs as though all of them work similarly, in reality there are two very different types of programs offered by colleges.

Early Action (EA)

Definition: Students applying to Early Action programs (which typically have November deadlines) find out from schools in December whether they've been admitted. Early Action admits still have until the regular May deadline to let the school know whether they plan to attend.

Early Action is simply a promise by colleges to review applications on an expedited schedule. While some students are thus accepted in December, no one is required to attend the college or even make a decision before the regular May reply date. Early Action gives students the benefit of a possible early acceptance that can relieve stress and help with early planning. The drawback is that, while likely providing a slight admissions advantage, Early Action candidates do not enjoy nearly the admissions preference of Early Decision applicants.

Early Action is similar to Early Decision, with one important distinction--Early Decision applicants are required to attend a college if admitted there via an Early Decision Program.

Restrictive Early Action (REA)

Restrictive Early Action is a non-binding early application option for students who have completed a thorough college search and are confident in their first choice. Admission decisions are released by mid-December, and admitted students have until the regular notification date – usually May 1 - to respond to their admission offer. This allows students and families to compare financial aid awards across institutions. Students who choose to apply for financial aid can expect an estimated award at the time of admission. The application deadline for Restrictive Early Action is often times November 1.

3 Possible Restrictive Early Action Admission Decisions

1.    Applicant is admitted and has until May 1 to respond to the admission offer.

2.    Applicant is denied and may not reapply for Regular Decision admission in the same year.

3.    Applicant is deferred to Regular Decision and will receive a final decision by April 1.

 

Since most schools like to make final decisions whenever possible, only a small percentage of Restrictive Early Action applicants are deferred.

Restrictions on Students Applying Restrictive Early Action

The RAS has, as one might expect, restrictions. Applicants agree not to apply to any other private college or university under an Early Action, Restrictive Early Action, Early Decision or Early Notification program. Applicants may apply to other colleges and universities under their Regular Decision option, since it will be unclear of the REA decision from the school until after the end of the regular application process for many students.

Exceptions to Restrictions

The student may apply to any college or university with early deadlines for scholarships or special academic programs as long as the decision is non-binding.

The student may apply to any public college or university with a non-binding early application option.

The student may apply to any college or university with a non-binding rolling admission process.

The student may apply to any foreign college or university on any application schedule.

If you are considering applying to another college or university whose application option does not appear to qualify as an exception, a call should be made to the Office of Undergraduate Admission for their position.

Early Decision (ED)

Definition: This program enables students to apply to a college in November and receive a decision in December (as opposed to the typical January deadline and April notification). Students can only apply to one school via Early Decision and are required to attend if admitted. If you’re admitted, the student is required to withdraw any applications that have been sent to other schools. The student is also required to send your enrollment deposit to the school soon after admittance, normally in early January.

Early Decision programs have been proven to provide a benefit to those who take advantage of them - put simply, it's easier to get into a college via the Early Decision process. If a student has a strong first-choice school, it makes sense to apply there Early Decision (while continuing to complete applications in case the student is rejected or the decision is deferred until the regular notification date). Applying Early Decision almost certainly increases an applicant's odds of being accepted.

Deciding About Early Decision and Early Action

The National Association of College Admissions Counselors (NACAC)produced a Word document to help a family decide whether applying early is a good alternative or not. Visit:

http://professionals.collegeboard.com/profdownload/early-decision-early-action-worksheet-college-board-handout.doc

 

A few good sources of information on student debt

Of all the topics of discussion about college, money is usually the hottest, and perhaps the least understood. Student loans are at the heart of many of those discussions. There are lots of discussions in the press, in blogs, in the colleges and even in the halls of Congress.

A few sources of information on private student loans on which I rely:

Project on Student Debt

...and their Facebook page

Student Debt and the Class of 2009

Private Loans: Facts and Trends

Institute for College Access & Success

H.R.5043 - Private Student Loan Bankruptcy Fairness Act of 2010

Track that bill and others at:

• MAPLight.org
• GovTrack.us
• OpenSecrets.org
• Followthemoney.org  and...
• Opengovernment.org

 

Mission College - College Fair Night

I enjoyed the visit tonight with many colleges:

• Whittier
• Western New England
• Drexel
• Hofstra
• Hillsdale
• Brandeis
• Dominican
• Maryville
• Ithaca
• Creighton
• Gonzaga
• George Fox
• Menlo College
• Rochester
• Providence
• Pepperdine
• St. John's
• Scripps
• Mission College
• West Valley
• Whitman
• Northeastern

I learned tons this evening. These are terrific colleges. Most local kids know nothing about them.

Lenders for Student Loans

Soon, it will be time for many parents to shop for student loans for the coming 2010-11 college year. Of course, these loans should be carefully measured with respect to cost, affordability and common sense, with careful projections made for income that can comfortably support loan repayment. With that in mind, here are some loan companies that stand out in private student loans, courtesy of Student Lending Analytics:

Lender

Addison Avenue FCU Private Student Loan

NASA FCU Private Student Loan

Northwest FCU Private Student Loan

Chase Select Loan

Discover Certified Private Loan

Wells Fargo Collegiate Loan

SunTrust Academic Answer Loan

U.S. Bank No Fee Education Loan

PNC Solution Loan

Citibank CitiAssist Undergraduate Loan

Sallie Mae Smart Option Student Loan

California budget cuts mean no college for thousands?

"The executive director of the California Student Aid Commission, Diana Fuentes-Michel, said the  governor's plan to phase out Cal Grant aid to lower income, college-bound students could keep more than 200,000 out of classes".

The budget cuts $2.75 billion from higher education through June 30, 2010, including community colleges, and both the University of California and California State University systems. Ouch.

Things were a mess going in to the fiscal year. Now the state post-secondary schools are in a very difficult state of affairs. Students will suffer - and have to look for more affordable, and realistic, alternatives.

Eliminating $173 million in the Cal Grant program will virtually make it impossible for many families to afford a CSU or a UC. And with community colleges' budget cuts likely shaving enrollments, the search for qualified alternatives will be more difficult than ever.

Is this the unraveling of a 50-year master plan for California higher education?

Recession is pushing college out of reach

I just found this 4 month-old story from Newsday in New York (Long Island).

http://bit.ly/OASOu

• College costs have risen 400% since the 80s.
• The average student graduates with over $20,000 in loans these days (2008).
• Nearly 10% of college graduates have loans with interest rates that hover near 20%.
• 33% of the money parents use for college comes from income or investments.
• This past spring semester, 65 percent of schools across the country reported an increase in the amount of unpaid tuition bills

So, colleges are initiating a number of programs to deal with the shortfalls of enrolled students. Donor drives to fill gaps in tuition payments, extending terms for back tuition payments, and promising to hold increases down as much as possible.

This article leaves the issues unsolved, and leaves the reader grasping for some answers. There ARE some answers, but they are not ever written by newspaper and magazine writers. Guess where the real answers lie?

Want to see an unfair fight? The private student lending industry and...

...Obama. Another fight with the financial industry. This time, it's with the private student loan industry, a body of companies and quasi-governmental agencies that have been providing a strong alternative to the Federal Direct Student Loan Program (FDSLP), where the government is the direct lender. And this fight could be nasty, because it involves jobs at big firms in Congressional districts.

In 2007 the private student loan industry was thriving and profitable. The Federal government subsidizes the loan companies, making guarantees up to 97% of the loan volume and ensuring interest rates. But like many programs, problems eventually crept in, this time with the schools' financial aid offices making deals with the private lenders. They lost sight of the customer - students were not getting the best deals possible. The schools and the loan companies were benefiting and the students were forgotten.

[personal rant: private industry and the free markets work BEST right up to the point when people forget that they serve customers, not their own self interests.  -sigh- ]

But there is a whole lot pf politics involved with this battle. Obama and the Democrats want government to run seemingly everything these days, and the student lending industry is no exception. The Republicans will fight him on principle, but it is the Congressional Democrats that may give Obama the biggest fits. They need to look out for their constituencies.

If you are not sick of the political battle between our federal government and private industry, and you can take the increase in your blood pressure from the mess we're in, read, "Plan to Change Student Lending Sets Up a Fight" from the NY Times.

As rich rivals cut back, small colleges sell stability

From the Boston Globe... reinforcing the idea that smaller colleges should not be overlooked in today's difficult environment for parents of college-bound students.

I have often pointed out in this blog that the smaller colleges are viable alternatives to the bigger, brand name schools, and that they use their money cleverly to fill their seats each year. This year, they are asserting themselves with reassuring information for families of high school senior, assuring them that they are stable, secure and not cutting back and much as some of the larger schools.

These smaller colleges rely more on their tuition fees to cover operating budgets each year, whereas the larger schools look to their endowment funds for much of their budgets. The article points out that this is a blessing this year, as endowments have been hit very hard in the recent collapse in equity values.

One of the most powerful tools that the smaller schools have is the use of the discretionary merit-based financial aid awards, as pointed out by Silvio Vazquez, vice president for enrollment at Gordon College.

I refer many folks to the site of the National Association of Independent Colleges and Universities (NAICU) to get more information on colleges and universities they may not know. It's good to see the Boston Globe point to these schools in their January 5, 2009  article, As rich rivals cut back, small colleges sell stability. 

FAFSA Frenzy

It started last year, but it will accelerate this year for sure. An Inside Higher Education article from September pointed me to reports from the Department of Education that shows, among other things, that applications for financial aid rose 16% in 2008 over 2007. Perhaps it was started by the credit crunch that impacted private student loans in April 2007. (See Borrowing for College Just Got More Expensive). Whatever the cause, the surge started before the difficult year in which we are now experiencing.

Since September 2008, when the financial crisis turned from alarming to severe and then critical, families have been expressing exasperation and despair over the difficulty of meeting the rising cost of college. Even as demand surges from graduating high schools, colleges will feel a resurgence of financial aid applications as parents grasp for ways to meet high cost of college.

California was among the states with the highest increase in financial aid applications, with a 19.8% increase.

What does this suggest for the 2009-10 school year, whose applications will be submitted in the next few months? With the home and stock market meltdown doing serious damage to family balance sheets, I would expect the number of financial aid applications to increase even more.

But perhaps more important to families, how will the schools respond this year? Who will get the aid? What will the effect be on private colleges? Opinions are welcome. I have my own, and they may surprise some.

NYT: College May Become Unaffordable for Most in U.S.

The annual report from the National Center for Public Policy and Higher Education is now out, and the New York Times has an article today highlighting its findings. Forget all the numbers, the picture tells the story:

Here are some interesting facts that stand out:

• Student borrowing has more than doubled in the last decade, and
• Students from lower-income families, on average, get smaller grants from the colleges they attend than students from more affluent families.

This last fact is lost on so many families. The largest amounts of financial aid dies not go to those in greatest need, but rather to the families that the schools want.

Many of the families with whom I work are feeling the pinch described in this study in a big way this year. But there ARE ways to ease the burden by knowing how the game is played and what financial techniques will reduce costs.

Here's the New York Times article: College May Become Unaffordable for Most in U.S.

Facts about admissions at UC schools

Now that applications are in for the current high school senior class students that aspire to attend one of the UCs next year, let's review some of the statistics associated with the most recent class of applicants. This can shed some light on what the current group of applicants can expect this coming April, when the letters of acceptance are sent out by the universities.

For this fall of college freshman, the class of 2012, the number of applicants to the UC system was 95,611. Of those applicants, 76,842 students were accepted, about 5,000 over the previous year. Of those, 37,763 Californians said that they would be enrolling.

Here are the academic statistics of the incoming class this year (class of 2012) and last (2011):

2007    GPA: 3.78    SAT: 1768    ACT: 24.9
2008    GPA: 3.79    SAT: 1769    ACT: 25.2

The high acceptance rates can be misleading. Looking at specific schools reveals some important distinctions for the fall 2008 applicants (class of 2012):

Berkeley: 49,504 applied, 10,478 admitted (21.6%), 4.18 GPA, SAT CR 665, M 696, W 674 averages
San Diego: 47,410 applied, 19,044 admitted (40.2%), 4.07 GPA, SAT CR 630, M 671, W 642 averages
Los Angeles: 55,441 applied, 12,709 admitted (22.9%), 4.15 GPA, SAT CR 653, M 686, W 664 averages

The UC system is very good at producing statistics each year. You can get all the information sliced nearly any way you want it at this site:

UC StatFinder - Undergraduate Admissions, Enrollment, Persistence, and Graduation Statistics

Some tables that are sure to be of interest are:

Table 16-2007. Fall applicants, fall admits, fall enrollees, admit rate and fall applicant yield rate: first-time freshmen, by high school GPA, universitywide and by campus: Fall 2007

and,

Fall 2008 California Freshman Admit Profile

So, if you are stressing over your chances for getting into a UC campus, these statistics can help get a picture of your chances. But as many families are finding each year, acceptances can appear random at some campuses, with some students with high academic profiles missing out while some with lower profiles are admitted.

This makes a strategy of selecting strong private schools that match your needs and preferences all the more important.

Financial aid will have to flow to families this year

In the midst of this economic turmoil, I have met over 150 families with kids heading to college soon. With so much anxiety in the air, I thought that I would write about my opinions about what colleges will have to do in the coming year and beyond.

Here's an article that supports this assertion:

Tough times put the squeeze on colleges

When I present information on "finding and funding the best colleges for our kids", I describe the various sources savings in college expenses. Some are bigger than others, but taken together, they can add up to substantial savings. The largest is often financial aid, but it is a convoluted process and outcomes vary by schools and family.

Most families focus on the "need-based" financial aid, which is usually more straight-forward but is often small, in the form of federal loans, small grants like the Pell or SEOG grant.

But the main source of financial aid that is "free money" (you don't have to work or pay it back) is from the colleges themselves - particularly the private colleges. The amount of this institutional or grant aid is over $22 million (2006, collegeboard.com), and in my opinion, it will have to surge this year and beyond.

The reason that I believe this to be true is that, with the sudden shrinkage of the value of our equities in stocks, mutual funds, 529 plans, retirement funds, and real estate, families simply cannot afford the list prices of colleges today. The schools will compensate for this by offering considerably more merit-based financial aid. This money is the tool they will use to fill their seats, a process know as enrollment management.

Families that understand how this enrollment management game is played by the colleges can benefit significantly this year and beyond.

Economic anxiety affects high school seniors weighing college choices

With the sudden economic meltdown caused by the collapse of the housing market under the weight of loans to unqualified borrowers, families of college-bound students are feeling the pain. This has been building for some time now, as the easy credit government policies and growing number of defaults heated towards a collision.

The San Jose Mercury News ran a good article in their paper this past Thursday, October 23rd, describing this pain with a couple of real life examples. Since I have seen over a hundred families in the last few months, I can attest that these examples are not unique, but in fact typical. The article is located here:

Economic anxiety affects high school seniors weighing college choices

There are a couple of points in the article on which I would like to elaborate. Overall, this article is very well written and researched. But on the point about the "529 college savings accounts", I think the information is potentially dangerous without further clarification.

First, notice that the paragraph that brings up the 529 plans by saying, "And as the stock markets continue to fall, many families who did manage to set up college savings accounts, often through mutual funds or tax-free "529" accounts, have seen their assets dwindle". Exactly right. And this is the source of much of the family's pain.It goes on to add that, "Many advisers say that if your child is still a few years away from college, now is a good time to invest, essentially buying stocks on sale". This where I say, whoa.

This issue is market risk, in my opinion. Most savvy advisers I know say that, regardless of the use of the funds, if you need those funds with the next 3 years, then is is prudent to be out of the market, for the reasons we have lately seen. At the very least, there should be a steep tapering of asset allocation to more fixed-rate investments and away from the stock market as the years get close. Since markets perform more predictably and better over the long-haul, and remain volatile in the short-term, this is a prudent approach on money needed for college, or other important things like weddings.

There are places to accomplish these objectives. The problem is knowing all the different choices and their strengths and weaknesses. And judging from the widespread pain around the valley and beyond right now, few are getting adequate information.

Survey suggests that college bound teens will be hit hard by economic crisis

A company with whom I am very familiar, ApplyWise.com, and Next Step Magazine released the results of their survey in the last few weeks, focusing on the impact of the current economic crisis on the plans of families of college-bound students. The results may not be surprising to many, but the survey can provide some comfort that we're all in this together.

Some of the highlights from the survey include:

• 50% of families polled are now limiting their child's college choices to less expensive options
• 54% of families are considering in-state, public colleges, in response to the economic downturn
• 88% of parents say their families have reduced discretionary spending within the past six months specifically to save more toward their child's education
• 43% of those have cut spending significantly
• 32% of families report their financial situation has changed in the past six months and so they are seeking more economical education options for their child
• 38% say they are concerned about the economy and are now seeking more affordable college options
• Interestingly, less than one-third of those polled say their college selection criteria have not been influenced by economic factors

Perhaps even more interesting, here are the tactics parents plan to employ:

• 67% will apply for more need based scholarships
• 62% of parents say they will require their child to work while attending college
• 53% plan to get more student loans, including non-government loans
• 30% of families will send a stay-at-home spouse back to work
• 27% of families plan to take out a home equity loan
• 11% plan to liquidate a retirement fund
• 8% will borrow money from a relative
• 7% will sell a home or other real estate

There are many ways to cut the cost of college, and several are superior to the ones above and not even mentioned. I discuss these in meetings and seminars and will try to documents them on this blog in the weeks and months ahead.

Here's the link to the full press release from ApplyWise.com and NextStep Magazine:

Survey Suggests That College Bound Teens will be Hit Hard by Economic Crisis

College Honors Programs

A college honors program provides highly motivated students the opportunity to work closely with professors and other motivated students in advanced levels of critical thinking, analysis, research, writing, communication, and collaborative learning initiatives. Honors programs vary with the school, but there are some common benefits of a college honors program.

Criteria for Acceptance

Each honors program has its own entrance requirements. Some criteria for acceptance by the colleges include:

• High GPA (usually 3.5 or higher)
• High standardized test scores (this is relative to the school - some have only a combined score of 1200 or higher on the SAT or 26 or higher on the ACT)
• Strong high school curriculum
• Top ten percent (or better) of high school graduation class
• Strong letters of recommendation
• Powerful essay
• Good interview

Some programs will only have one or two requirements, while other programs will have more. The college's coordinator of the honors program is the person to contact for the specific entrance requirements - go straight to the person who knows.

Applying

If you meet the entrance requirements for the honors program at certain schools you may be automatically accepted into the program - if you want it. Other schools may require an application in addition to meeting the main criteria. With schools that require an application there may be a deadline for submission. 

Benefits of Joining

The benefits of joining a college honors program are significant for many but vary with the colleges and are appreciated differently by students. Some benefits include:

Small classes. Small class sizes enable students to have closer relationships with their professors and with other students because they allow for more interaction and discussion - student engagement is often enhanced. Often honors classes have no more than 25 students.

Graduate school preparation. At many schools, the class regimen of an undergraduate honors class is similar to that of a graduate class. Many honors classes place a great deal of emphasis on continuing education through graduate school.

Special activities. Students who participate in an honors program often get to participate in honors retreats, cultural events at theaters and museums, campus-wide recognition banquets, dinners with faculty members, etc.

Networking with exceptional students. Since this is a relatively elite group of academic achievers, it sets the bar higher for associations, friendships and future professional contacts. Since you may be going through a more rigorous curriculum, the bonding and relationship-buidling can provide benefits for years to come.

Scholarship opportunities. At some schools, students who participate in the honors program may also qualify for certain scholarships. Each school's honors program is different, so you must check carefully to not miss any good opportunities.

Priority registration. Some programs allow priority scheduling for students in the honors program. This can help that honors students to complete their individualized academic programs in a timely manner.

Honors degree. Students who graduate in the honors program will have that notation recorded on their diplomas and permanent records. This can look good on your resume. But many college graduates from honors programs say it has little real impact when searching for a job.

There are many people who feel that the honors programs provide little benefit after college. But during the college years, some of the benefits listed above can be very meaningful to certain students. The purpose of most honors programs is to provide an enhanced educational experience for students, providing a higher level of academic rigor and stimulation. As always, you must decide for yourself.

Some California Honors programs include:

UCLA Honors Program

UC Irvine Honors Program

UC Davis Honors Program

UC Berkeley Electrical Engineering and Computer Sciences Honors Program

UC Riverside Honors Program

UC Berkeley College of Letters & Science Honors Program

UC San Diego Warren College Honors Program UC San Diego John Muir College Honors Program

UC Santa Barbara College of Letters & Science Honors Program

Standardized test cause undue stress

As anyone who has heard me speak at seminars, conferences or high school parents' night, I believe that standardized tests are controversial, stressful and ... important. What a paradox! Most schools rely on them heavily for their admissions and financial aid decisions, it's true. But they are under attack from many sides.

Check out this article from the New York Times: Study of Standardized Admissions Tests Is Big Draw at College Conference.

The recent conference in Seattle hosted by the National Association of College Admissions Counselors (NACAC) has sparks flying over the subject of standardized tests, generated primarily by the presentation on the "Study of the Use of Standardized Tests in Undergraduate Admission" by William R. Fitzsimmons, the dean of admissions at Harvard. Mr. Fitzsimmons re-asserted the often-expressed opinion that standardized admissions tests are “incredibly imprecise” when it comes to measuring academic ability and how well students will perform in college.

He also asserted an opinion that I often express myself, that “educational quality has nothing to do, or very little to do, with actual average SAT scores.”

NACAC convened a Commission on the Use of Standardized Tests in Undergraduate Admission, which issued its report after a year-long study. You can see the study here:

NACAC Commission's Report on the Use of Standardized Tests in Undergraduate Admission

The bottom line is this: the colleges understand the inequities and possible misuses of the tests, but they have no attention of discontinuing the use of the tests because they are useful in segmenting the applicants of the incoming class.

Let us not forget one other important factor: the tests are used by various ranking services - such as the US News and World Report - that deliver students to the colleges' doorsteps. And that means revenue. So, until the ranking systems de-emphasize the tests, the schools will continue to place a high value on students' test results.