5 Going On 18: Preparing for your child's education

College may seem light years away.  But ask those who have been there.  Before you know it, applications begin, decisions are made, and your little buddy and beautiful little princess are no longer at home.

Why does time pass so quickly?  Well – that is a conversation for another day.  But managing the preparation for the time at which that day finally comes is something that should be considered now.  Waiting too long results in time lost. Not to mention, last minute preparations can often lead to over-looked details, missed deadlines and hasty decisions.

So, how do you start preparing for your child’s education today?  Here are 5 simple steps:

A great resource for detailed information and research on this subject is available through the USAA Educational Foundation.  In addition to healthy habits, they offer many additional suggestions that can assist you in preparing your child for college. Don’t miss out on what they have available.

      

      Prepare financially.  It is never too early to begin saving for college expenses.  A 529 College Savings Plan can be a great way to start, but it’s certainly not the only option.  You can learn more about 529 Savings Plans through the Utah Educational Savings Plan website.

      

      Financial literacy.  The old adage is true: a dollar saved is a dollar earned.  And in all reality, a dollar saved is better than a dollar earned.  What are we doing to actually teach our youngsters about financial literacy?  Start early, whereas the consequences of learning this lesson later in life can be difficult to overcome and detrimental to future financial security. 

              

      Social maturity.  You would think this doesn’t need to be mentioned.  But from working with young adults and high school/college students, I have quickly discovered that the art of communication isn’t as strong as it should be.  Time away from video games, texting, and social media is very important.  Time with family, friends, adults, community service, and healthy recreational activities is vital. 

              

      Academics.  Studying skills should be reinforced in the home.  Critical thinking is crucial in the competitive world we live in.  As children grow and become young adults, they need to create the habit of forming ideas, evaluating information, and being able to make an educated and informed decision.  To help in this process, many students will have the option of taking concurrent (dual) enrollment in high school, or AP exams.  Before jumping into these decisions, call 3-4 universities/colleges and ask the tough questions.  Determine if these options are best suited for your child and their continued education.

          

      Healthy habits. Whether it involves eating, sleeping, exercise, or a variety of other activities, living a healthy lifestyle is beneficial for everyone.  Limiting television, increasing community service, maintaining a balanced diet, getting regular exercise, and allowing ourselves to sleep and rest are all good ways to help establish healthy habits.  Unfortunately, this takes years to learn.  The early it is taught and reinforced, the better.

      These 5 simple suggestions are exactly that.  They are simple.  And they are just suggestions.  But they are suggestions that will create an opportunity for success and continued growth.  

      A great resource for detailed information and research on this subject is available through the USAA Educational Foundation.  In addition to healthy habits, they offer many additional suggestions that can assist you in preparing your child for college. Don’t miss out on what they have available.

Written by Craig Whyte

What not to overlook when evaluating colleges

Choosing where to further their education after high school is one of the biggest decisions your child will make in life, which is why it is important to look closely at each college or university they are interested in attending.

While the decision is ultimately a personal one, here are a few suggestions of things you and your son or daughter may want to consider in the evaluation process.

Student/faculty ratio

One common adjustment for incoming students is the change in class sizes. Some college courses have larger populations than many rural towns across the country. The proportion of students to faculty in a classroom is often seen as a reflection of the intimacy of the educational experience. While there may be some truth to this theory, it is important to realize that the student/faculty ratio can also be easily misinterpreted.  The concept of smaller class sizes equaling a better educational experience may seem logical to some, others disagree, arguing that the quality of a student’s classroom experience can be attributed more to the individual professor and the student, rather than classroom population.  

Which camp of thought you side with is entirely your decision, but should you find yourself supporting the former theory (smaller class sizes equals a better educational experience) than you will want to investigate the student/faculty ratio of the schools your child wishes to attend.

Sticker price

What is the first word that comes to mind when you hear “college expenses”? For many, the answer is tuition. Tuition is undoubtedly the greatest expense of obtaining a higher education, but it is certainly not the only one. Student fees, text books, housing, meal plans and more all add to the total “sticker price” of your college experience.  

There is no lack of online resources when it comes to researching universities with the greatest value. Utah State University has been included on the lists of many different prominent publications. In fact, USU recently found itself on Forbes’ list for Best Value Colleges of 2012. Take a look and see where we rank.

Financial aid opportunities

It’s no secret that higher education is expensive, which is why it’s important to find out what type of financial aid is available at the colleges in which you’re interested. In addition to federal aid, many institutions will have their own scholarship opportunities. Be sure to do your research and find out which of those scholarships may apply to your son or daughter. For more information on where to find options to help pay for their education, take a look at our financial aid blog post.

Clubs and activities

Your college experience wasn’t all about text books and classrooms, and your child’s shouldn’t be either. It’s important to get involved in different ways around campus. Joining clubs, organizations or intramural activities are some of the best ways to do just that. Their college experience will be far more positive, meaningful and fulfilling if they attach themselves to something they enjoy or believe in passionately. Take the time to see if the schools you’re investigating offer the extracurricular options you’re looking for in a university.

Location

Location. Location. Location. You’ve probably heard it far too many times, but there is truth behind the value of a good location. While the definition of a “good location” is almost entirely subjective, it does make a difference where a person goes to school. Do they have an affinity for the outdoors? Would they prefer a fast-paced city with a vibrant night life, or a quieter area with a strong sense of community?

After all, your kid is going to spend four or more years of their life there. It helps if they connect with the city in which they live during that time.

If you’re wondering how to find out more about college towns and whether they fit the lifestyle of your child, livability.com is a good place to start. Follow the link to see which locations they ranked as the top ten college towns in the country.

Alumni network

Alumni support is a vital element to any institution of higher education. A strong network of alumni can have a tremendous impact on the value of your child’s education and overall college experience. For example, alumni who are actively involved with their alma mater are more likely to engage with current students in mentoring programs, provide career opportunities, develop professional relationships with students and faculty, donate to university programs and projects that will affect your child and return to campus to share their professional experiences and advice with students.

Bottom line: when it comes to selecting a college, there are a lot of factors involved. Far more than what was covered in this list. Each decision is a personal one, and thankfully, there are a number of resources at your fingertips today that allow you to research and compare multiple schools at once. So be sure to decide what you’re looking for and take advantage of them.

Aid Me With Some Aid

In today’s economy, most students and parents are looking for some type of financial aid to offset the costs of college (tuition, fees, books, housing, food, travel, and even recreation).  We’ve all been told that there is money out there.  But where?

From years of working in student recruitment and scholarships, I would like to offer some suggestions that may help you along the way.  

Disclaimer: I don’t profess to have all the answers and the magic key or source to funding.  But I have discovered a few simple things that parents and students can do to help in the process of discovering aid.  Additionally, Utah State University would encourage all students to apply.  Truth be told, not all students will be Aggies.  So the following recommendations are meant for all students, regardless of where they enroll. 

      Be in the Know

a.       Deadlines.  Know the deadlines.  Deadlines often determine the outcomes and many students miss out on financial aid because they simply miss a deadline.  These deadlines apply to scholarships, as well as general financial aid (loans, grants, & work-study).

b.      People.  Know the right people.  Call and introduce yourself to your specific financial aid counselor (or admissions counselor) at your school.  If they don’t know you and your situation, you have missed out on one of the great resources available to you.

c.       Scholarships.  Know what you are applying for.  Is this an academic, involvement, leadership, service, or alumni scholarship?  If so, focus on that key concept.  Selection committees are keenly looking for information and answers to reaffirm your involvement in said application.  Don’t ramble.  Be direct and make your answers personable.

d.      Federal Aid.  Know what type of aid is available.  Federal financial aid consists of loans, grants, and work-study.  When applying, apply for all options.  It doesn’t cost to apply and you can always decline an offer when presented with it.

      

        Federal Aid

a.       Be educated.  If you are like most individuals, you have spent a lot of time on admission related issues: grades, tests, activities, college visits, essay writing, etc.  Focusing on financial aid should be considered early.

b.      Know your EFC (Expected Family Contribution).  Your EFC should be known as you know your SAT or ACT scores.  Students are eligible for aid (grants, loans, work-study) if your EFC is less than the cost of attendance.  To determine this number, visit the EFC calculators at www.collegeboard.com or www.finaid.org.

c.       Submit your taxes early.  You aren’t able to submit your FAFSA (Free Application for Federal Student Aid, www.fafsa.ed.gov) until you complete your taxes.  And as deadlines for FAFSA approach quickly each year, you should do your taxes as quickly as possible.  FAFSA application/submission date can make the difference in your award offer.

d.      Don’t be paranoid.  Some individuals don’t want to apply for federal aid as they may not trust the institution with financial records.  All data is maintained within the U.S. Department of Education and is not shared with other federal agencies. 

e.      Be prepared for verifications and complications.  Once you click submit and everything is turned in, expect to hear from university financial aid offices.  Don’t be concerned.  By working with the offices and providing the information requested (in a timely manner), it will actually help your case in receiving aid.

f.        Accepting Aid.  It is okay to accept a loan!  Many students want to graduate debt free.  But this isn’t a reality for everyone.  Before accepting a loan, visit with your financial aid counselor and understand the details of the loan.  I would also suggest you always accept a pell grant and work-study offer.

The most important thing I can suggest is to become acquainted with those involved in the awarding and decision-making process.  In an age of texting, Facebooking, and web browsing, many people overlook the importance of a face-to-face conversation.  When it comes to the opportunity of receiving thousands of dollars in aid, you don’t want to overlook any option that may increase your chances of receiving help.  That help is always found in people.

I am the youngest of four children and by the time I went to Utah State University, my parents had discovered the importance of the steps outlined above.  As a result, I received some aid that assisted me with my bachelors and masters.  It wasn’t always easy and at times I felt discouraged, but after working full time and looking back, I realize that the payoff for the amount of time invested was huge!  Accept my suggestion of putting in the time to see what your options will be.

Some helpful websites to remember:
        FAFSA Application: www.fafsa.ed.gov (never pay to apply for federal aid!)
        EFC Calculators: www.collegeboard.com or www.finaid.org
        USU Financial Aid Office: www.usu.edu/finaid

o   Find helpful Q/As

o   Use hyperlinks to discover more suggestions and recommendations

o   Discover more about the awarding process at USU and then apply to your institution

Hopefully, this provides some information that will benefit you in your discovery.  If you are reading this and you are a senior in high school (or your son/daughter is a senior in high school), then don’t delay!  Now is the time to get answers to all of your questions!  Time is of the essence in receiving aid.

Craig Whyte
BS, 2004.  MBA, 2005
Utah State University