shrinking the cost of college l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Shrinking the Cost of College PowerPoint Presentation
Download Presentation
Shrinking the Cost of College

Loading in 2 Seconds...

play fullscreen
1 / 32

Shrinking the Cost of College - PowerPoint PPT Presentation


  • 161 Views
  • Uploaded on

Shrinking the Cost of College. Lynn O’Shaughnessy. Lynn O’Shaughnessy. Author of The College Solution New York Times, BusinessWeek , Money Magazine , USA Today Blogger: TheCollegeSolutionBlog.com College blogger: CBSMoneyWatch.com. Discounts Galore.

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Shrinking the Cost of College' - race


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
shrinking the cost of college

Shrinking the Cost of College

Lynn O’Shaughnessy

lynn o shaughnessy
Lynn O’Shaughnessy
  • Author of The College Solution
  • New York Times, BusinessWeek, Money Magazine, USA Today
  • Blogger: TheCollegeSolutionBlog.com
  • College blogger: CBSMoneyWatch.com
discounts galore
Discounts Galore
  • Colleges priced like airline tickets.
  • Average tuition discounts:
  • Private schools: 33.5%
  • State universities: 15%
tuition discount examples
Tuition Discount Examples
  • Boston College: 40%
  • Vanderbilt University: 34%
  • Rice University: 31%
  • Washington University (St. Louis): 22%
  • University of Southern California: 39%

College discount could exceed $60,000

discount vs no discount
Discount vs. No Discount
  • No discountsDiscounts
  • Columbia U. NYU
  • Amherst College Carnegie Mellon
  • Williams College Emory U.
  • Pomona College USC
  • Georgetown U. American U.
no loan schools
No Loan Schools
  • Examples of No Loan Schools
  • University of Michigan University of Virginia
  • Northwestern U. Wesleyan University
  • Stanford U. MIT
  • Cal Tech Tufts
  • Find list at ProjectonStudentDebt.org
identify a college s financial fingerprint
Identify a College’s Financial Fingerprint
  • Common Data Set
    • Google “Berkeley” and “Common Data Set”
federal college navigator
Federal College Navigator
  • Google: “College Navigator”
meritaid com
MeritAid.com
  • $11 billion of merit aid
  • Directory of merit aid from schools across the country.
  • One out of four students receive merit aid
  • Usually no extra forms.
  • Merit aid: Better than private scholarships.
  • $7 billion private scholarships, usually one year.
broaden your horizon
Broaden Your Horizon
  • Students who attend their own state schools:
  • Texas 87%
  • California 84%
  • Florida 74%
  • Illinois 67%
  • Missouri 58%
  • Pennsylvania 55%
  • Massachusetts 43%
use talents as leverage
Use Talents as Leverage
  • Singing
  • Acting
  • Art
  • Volunteerism
  • Leadership
slide12

By Lynn O’Shaughnessy

Scholarships: Not Just For The Needy

Why schools are giving more scholarship money to affluent kids

The sticker price of some colleges and universities now rivals the $210,600 cost of the median American home, and even wealthy families feel the pain when they start writing those large checks. But affluent parents shouldn't assume they will have to pick up the whole tab by themselves. Far from it.

A growing number of top-notch schools have begun handing out thick wads of cash to households that may not appear to need it. Why? "Wealthier families, who have students who excel, are desirable because they prop up the school's profile in the college rankings, and they can also pay a significant portion of their education.”

athletic odds
Athletic Odds

Men’s football: 1 million high school players

< 29,000 football scholarships

Average value: $13,000

Women’s track: 603,000 girls

9,888 track scholarships

Average value: $8,100

Where the Money is: Division III

Jocks have 40% greater chance of admission at Ivy League

use gender as leverage
Use Gender as Leverage
  • Women represent 56% of college students
  • Boys have advantage at LAC’s
  • Girls have advantage at science/tech schools
  • Example: MIT acceptance rate:
    • Males 9% Women 22%
use diversity as leverage
Use Diversity as Leverage
  • Minorities in Demand at Elite schools
  • Example:
  • Middlebury College
    • Acceptance rate: 17%
    • Acceptance rate for African-Americans: 68%
finding the right academic fit
Finding the Right Academic Fit

Is teen in top 25% to 33% of applicants?

Sources: Common Data Set, College Board, Fiske Guide, Princeton Review

Bad test taker?

More than 820 schools are

SAT/ACT-Optional

check 4 year grad rates
Check 4-Year Grad Rates
  • Duke 90%
  • Harvard 87%
  • U. of Chicago 82%
  • U. of Wisconsin 44%
  • U. of Arizona 30%

www.CollegeResults.org

check four year grad rate
Check Four-Year Grad Rate
  • UCLA 66%
  • Berkeley 61%
  • UCSD 56%
  • UC Santa Barbara 50%
  • UC Davis 43%
  • California Maritime 43%
  • Sonoma State 25%
  • Cal Poly SLO 21%
  • San Diego State 20%
  • Cal State San Marcos 12%
  • San Francisco State 11%
finding wonderful schools
Finding Wonderful Schools

Forbes versusUS News Rankings

great unsung colleges
Great Unsung Colleges

CenterforCollegeAffordability.org

Top Western Schools With Ranking Higher than UCLA/Berkeley

Mills College (CA)

St. Mary’s College of California (CA)

George Fox University (OR)

College of Idaho (ID)

Pacific University (OR)

Linfield College (OR)

Willlamette University (OR)

matching making
Matching Making
  • Zinch.com
  • Cappex.com
  • CollegeBoard.com
  • Federal College Navigator
biggest financial aid myth
Biggest Financial Aid Myth
  • Saving for college ruins chances for financial aid assistance.
  • Families receive an asset allowance
  • Parents assets only only assessed by 5.64%.
  • Save: $100,0000
  • Asset allowance: $50,000
  • Rest of assets assed at 5.64%: $2,820.
private vs fed state aid
Private vs. Fed/State Aid
  • Free Application for Federal Student Aid (FAFSA)

All schools use FAFSA

  • CSS Financial Aid PROFILE

< 200 schools use PROFILE

biggest influencers of fin aid
Biggest Influencers of Fin Aid
  • Income from tax return
  • Parent non-retirement assets
  • Number of children in college
  • Children’s assets and income
fafsa formula
FAFSA Formula
  • FAFSA ignores:
  • Retirement accounts
  • Home equity
  • Family-owned business with < 100 full-time employees
  • Income from non-custodial parent
profile formula
PROFILE Formula
  • PROFILE asks for:
  • Home equity
  • Adjusted net worth of business or farm
  • Financials from non-custodial parent
run the numbers
Run the Numbers
  • Run the numbers as early as freshmen year in high school.
  • Federal methodology:
  • FAFSA4caster (Google it.)
  • Finaid.org calculator
  • Institutional methodology
  • CollegeBoard.com
  • Finaid.org
expected family contribution
Expected Family Contribution
  • Calculators will produce:
  • Expected Family Contribution (EFC)
  • Example:
  • Cost of Stanford: $51,000
  • Family’s EFC: $30,000
  • Max Fin.Aid: $21,000
increasing chances for aid
Increasing Chances for Aid
  • Apply for aid promptly
  • Fill out FAFSA after Jan. 1
  • Complete PROFILE in fall of senior year
  • Estimate taxes
  • Pay attention to base year
  • Don’t withdraw from IRA
  • Don’t convert traditional IRA
  • Ask how school handles divorce/home equity
appealing award packages
Appealing Award Packages
  • Negotiate, but don’t use the “N” word.
  • Update on circumstance
  • Try “sketchy” reasons
  • Share other award letters
  • Have teen make the call
  • Provide a specific number
questions
Questions?

Lynn O’Shaughnessy

  • Consultant
  • Speaker
  • Journalist
  • Blogger:

CBSMoneyWatch.com

TheCollegeSolutionBlog.com