College Completion Rates

A new website, College Completion, created by  The Chronicle for Higher Education, provides a wealth of data on college graduation rates across a variety of factors. If you are interested in researching graduation rates in your state, you can easily find that information on the homepage of the site.

All colleges are tagged with one or more of the following “sectors” which allow a user to easily search for a specific type of college: public, private,for-profit, size of freshman class, 2-year college, and  4-year college.

So, for example, if you would like to compare college graduation rates for small, private, 4-year colleges in New Jersey, you can quickly enter those four criteria and the website instantly provides you with graduation rates for all colleges that meet those criteria.

The website provides you with the following information about each college:

• Percentage of entering freshmen who graduate in 4 years
• Percentage of entering freshmen who graduate in 6 years
• Number of undergraduate students enrolled
• Median SAT scores
• Percentage or students receiving Pell Grants
• Amount of money spent per degree granted
• Average financial aid provided per student

For students and parents researching colleges, this new website adds a valuable source of information conveniently displayed so that you can easily compare amongst the colleges that fit your chosen criteria.

Making College Affordable: Tips and Information for Families

How do colleges determine financial need for a student and their family? What are my options as a student or as a parent? Join us for expert educational advising about current trends in college admissions and financial aid and learn how to set yourself up for the best financial and educational success.

Presented by Jill Yoshikawa, a  graduate of the University of California San Diego (UCSD) and Harvard University, and a partner at  Creative Marbles Consultancy.

When: Friday, March 11, 2011
3:30 PM – 4:30 PM Eastern Time

To reserve your space in this free webinar click here.

This free event is proudly sponsored by the UCSD Alumni Association.

Financial Aid Keeps Up With Rising Tuition

According to the College Board’s 2010 “Trends in College Pricing” and “Trends in Student Aid” reports, fast-rising tuition costs have been accompanied by a huge increase in financial aid, which helped keep down the actual amount students and families pay.  For more information, see the New York Times Article, and the College Board’s Trends in Higher Education website.

Colleges Provide Additional Help Determining Cost of Attending

The Higher Education Opportunity Act of 2008, passed in August of that year, requires colleges to provide a ‘Net Price Calculator’  on their websites by October 29, 2011. What this means for families of students applying to college, is that they will now have the ability to determine the actual cost a student will incur if they decide to attend a specific college. Whereas in the past, many families would just consider the “sticker price,” the published cost of tuition, fees, books, housing, etc., now they should have a more realistic idea of what they will actually have to pay for college, after all aid has been calculated into the price.

It is hoped that with this new tool, students and their families will be able to make better informed choices based upon the realistic cost of attending an institution. One potential benefit of this new requirement is that some families may realize that they do not have to rule out a specific college or colleges that may seem out of their price range if they are just considering the “sticker price.” Often it is hard for families to get an accurate picture of what they will ultimate have to pay for college.

Some colleges have put net price calculators on their websites well in advance of the law’s deadline. These include several Ivy League schools, M.I.T., and locally, Albright College.  Families should be aware that the federal government has created a net price calculator template that colleges can use in developing their own versions. In some cases the calculators created based upon this template may be less accurate than ones developed by the colleges themselves, since they may not take into account some of the variables specific to an individual school. Therefore parents should make sure to ask someone at the financial aid office at each school they are considering whether the college created its own net price calculator, and how accurate the results tend to be.

Good luck with your college search!

Why Private Colleges Might Not Cost As Much As You Think

According to Nancy Oliver Gray, president of Hollins University, a women’s liberal arts college in Roanoke, Virginia, private college might actually turn out to be a bargain. How so? Here are some of her reasons:

1.  Private colleges offer significant need-based financial aid and merit scholarships.

2.  Financial aid packages are typically much more generous than those at public colleges.

3.  Students at private colleges are more likely to graduate in four years, thereby saving money by not having to attend beyond fours years.  Since private colleges tend to be smaller than “the publics,” students will generally experience smaller class sizes and more individual attention from professors.  In addition, students tend to have an easier time getting into the classes they need to graduate than in public colleges.

Other advice on affording college from Ms. Gray includes:

• Few families pay “sticker price” for college, so don’t panic when you find out what a college is asking for tuition. In fact, according to the College Board, average net tuition (after financial aid is factored in) is more than $10,000 below the listed tuition price.
• Complete your FAFSA (Free Application for Federal Student Aid) as soon as possible. Students who get the FAFSA form in earlier are more likely to get a sizable aid award.
• Keep in touch with the college’s financial aid office. Often a college’s aid officers may be able to help you find money from both the college itself as well as from other sources. You can arrange a private meeting with an aid officer for more individualized help.

So, when considering which college is the best match, don’t rule out private colleges because of their “sticker price.” Remember to take the entire financial picture into account before making your college choice. Happy college hunting!

Source:

“You Can Afford College, Even In Tough Economic Times” December 14, 2008 (The Charlotte Observer),  December 18, 2008 (The Virginian-Pilot, The Roanoke Times)