CollegePete.com

Tagged: Bright Futures RSS Toggle Comment Threads | Keyboard Shortcuts

• 

  collegepete 3:11 pm on May 10, 2012 Permalink | Reply
  Tags: Admissions ( 17 ), Bright Futures, financial aid ( 37 )   

  2012 Admissions Results (and Lessons Learned) 

  First, Congratulations to the Class of 2012!  Our students received a record number of the ‘thick envelopes’ this spring — with acceptances to great schools and scholarship offers in excess of $1.5 million, an average of $30,000 per student – and that’s not counting Bright Futures. When all of the deposits are in (couple of kids still picking between two),  96% of our 12th graders will have been accepted to and received a hefty discount (in most cases) at one of their top choices.  Check below for a list of our Class of 2016 acceptances. You did great, guys – Congratulations!

  Now the not so good news.  While these results are typical for our students, they are far from typical for many college applicants.  The fact is more kids (including more full-paying, international students) are applying to more schools.  This means colleges can be pickier than ever and it made 2012 an insanely competitive year both for college admissions and for funding.   We are seeing some of lowest admit rates (# of applicants admitted v. # who applied) ever reported — and this is not just limited to the most selective colleges.  It’s across the board — and it seems to be disproportionately and more negatively impacting girls (not for nothin’ but there are more women on campus than men).  

  I’m not sharing this stuff to scare you.  I’m trying to motivate you.  You don’t have to be typical.  With proper and advance planning – the right financial guidance, a sound admissions plan, and the proper academic preparation — you can get a GREAT result.  And this is the lesson from 2012, which is the same lesson from prior years: get an early start, or when your student is in 10th grade or 11th grade.  My best success stories start with families who realize they need to plan early.

  In last Saturday’s Miami Herald I discussed some of the steps families should take.  The story,  Battling the High Cost of Higher Ed, discusses college as it is today – not what it once was — and it covers a lot of what you need to know about saving for, getting into and receiving a huge discount for college.  It’s worth a read, but I’ll be providing a whole lot more about what I think might be the most challenging issue of our time at my workshop in Pinecrest next week.  This will be my last class of the school year.

  If you have children and you plan to send them to college, I highly recommend you join us.  If you have a 10th or 11th grader and you haven’t been to one of my workshops yet, then what are you waiting for!? Get a jump start before your summer daze sets in.  Nothing will be pitched. Nothing will be sold. This is purely educational.   Click here to see what I’ll be covering, and to register.

  I hope to see you there.

  Best,
  Peter

  P.S. Please feel free to forward this story to a friend or neighbor with college-bound teens at home… they’ll thank you for it.

  P.P.S. Again, Congratulations everyone on what has turned out to be a record-breaking year!

  Acceptance and Award Results for College Pete’s Class of 2016 (ABC order)
  Allegheny College
  American University
  Boston College
  Boston University
  Bowdoin
  Brandeis
  Brown
  Cornell
  Drexel
  Duke
  Eckerd
  Emory
  FGCU
  FSU
  George Washington
  Georgetown University
  Georgia Tech
  Guilford College
  Harvard
  Hofstra
  Ithaca College
  Juniata College
  Lehigh University
  Marist College
  Massachusetts Institute of Technology (MIT)
  McDaniel College
  Middlebury
  New York University
  Northwestern University
  Rensselaer Polytechnic Institute (RPI)
  Rice University
  Stanford University
  Stetson University
  Syracuse
  Tulane
  UCF
  UCLA
  UF
  University of Maryland
  University of Miami
  University of Michigan
  University of PIttsburgh
  University of San Diego
  University of Southern California
  Vanderbilt
  Washington University in St. Louis
  Widener University
  Worcester Polytechnic Institute

  P.P.P.S. GO HEAT!  (and thanks for reading all the way to the bottom).
   

  Reply Cancel reply

  Required fields are marked *

  Name *

  Email *

  Website

  

  Notify me of follow-up comments via email.

• 

  collegepete 10:45 pm on October 20, 2011 Permalink | Reply
  Tags: Bright Futures, college funding ( 18 ), financial aid ( 37 ), scholarships ( 16 ), university ( 11 )   

  Why is Bright Futures’ Future Not Making Headlines? 

  I think Florida Bright Futures is toast.  At least in its current form as a state-funded merit scholarship program.

  This is just my opinion.  After reading my comments below, you may reach a very different conclusion about the goals, strategy and future of Bright Futures.  That’s ok..  I’m just glad we’re having the conversation.

  Much earlier today I read two stories about our state university system in the Herald.   Neither mentioned the Bright Futures Sholarship program.   Both should have, and it’s been annoying me all day.

  First the article:  Gov. Scott wants to know why our public universities keep raising tuition prices, but turning out students who do not have the skills to fill what our workplace actually needs.  Where did all the scientists and engineers go?  In a rebuttal column, Fred Grimm editorializes in favor of the softer studies and details some of the potential consequences of eliminating academic programs solely on the basis of  employer demand.  Though Grimm had his tongue at least partly in cheek, there is a real and growing gap between what America’s employers need and what our college students are learning.  Consider this: We’re setting new records in the number of students earning college degrees and in unemployment, BUT  there’s mounting evidence that some types of jobs stay open forever.   Bet you can guess which ones…

  The irony is that Florida was ahead of this problem.  When the state legislature passed the Bright Futures Scholarship Program in 1997, the hope was that more of Florida’s best high school graduates would stay in state and that the number of students graduating with highly sought science, technology, engineering and math (STEM disciplines) degrees would increase.  We were half right.   More than 150,000 students have received Bright Futures awards and our state university enrollment has indeed soared.   But enrollment in STEM fields?  That’s actually gone down in percentage terms!  One plausible explanation — our students are taking easier classes to make sure that they maintain the GPA requirements to re-qualify for the award.

  And not for nothing, the legislature just made those requirements a lot tougher.

  So even if they didn’t write about it today, the writing is on the wall.  It’s a widely held (and statistically measurable) belief that a properly educated, high-tech workforce can jumpstart a lagging economy.  A steady pipeline of skilled technical employees keep and attract businesses.  Our students need to become them.  Our schools need to grow them.    So long as Bright Futures remains a merit-based scholarship with GPA and test scores as the sole criterion, students will be discouraged from pursuing this type of difficult STEM study.  This is economically unsustainable.   Since the downturn, Bright Futures future has been tenuous at best.  It is ripe for an immediate overhaul as a subsidy to students pursuing STEM disciplines.  I suspect that it won’t be long before our cash-strapped government reinvents the Bright Futures as the competitive employment tool it was intended as.

  What does this mean for you? Well, it’s just a theory today, but if you’re the parent of a future college bound child, I personally think it unwise to count on this program when considering your funding options.  Bright Futures’ future is anything but assured.  And since your child’s college education is likely to be one of the largest investments you’ll make, and one that will affect not just four years of his/her life, but potentially his next 40,  I’d rather err on the side of caution and consider alternate and more reliable strategies.   Unsure of what those are, you may want to check out one of my workshops.
   
• 

  collegepete 10:16 am on July 1, 2011 Permalink | Reply
  Tags: 2015 ( 6 ), ACT ( 5 ), Admissions ( 17 ), Bright Futures, college ( 24 ), college funding ( 18 ), college visits ( 7 ), CSS Profile ( 12 ), Facebook ( 3 ), FAFSA ( 23 ), financial aid ( 37 ), FL Prepaid ( 4 ), graduation rates ( 7 ), Pell Grant ( 6 ), SAT ( 6 ), scholarship ( 14 ), scholarships ( 16 ), university ( 11 )   

  Stanford’s Top 20 

  Summer is a great time to get working on that college essay.  Students often have more difficulty with the essay than any other part of the college application process, including the SAT.  Sure, most student’s hate taking the SAT almost as much as the rest of America hates the Miami Heat, but after 3 hours and 45 minutes the SAT is over, done with, and probably behind you.  The essay, on the other hand, has no time limit.  It’s never really finished, and even when you think it’s finished, there is always another tweak you can make here or there to marginally improve it.  And while the SAT (or its fraternal twin the ACT) is one of the primary components of a student’s application, it’s the Essay that actually provides the ‘texture’ and context that can sway a borderline candidate from a ‘maybe’ to a ‘yes’!

  The most important part of the essay might just be the opening sentence.  Think about it.  Admissions officers quite literally read thousands of essays, so the opening line had better grab, melt resistance and create enough interest to keep them reading.  That’s a very tall order for one sentence!

  Stanford’s admissions office was recently asked about their favorite opening lines.  Here are my Fave 5 from that list:

  When I was in eighth grade I couldn’t read.

  Cancer tried to defeat me, and it failed.

  I have old hands.

  Some fathers might disapprove of their children handling noxious chemicals in the garage.

  On a hot Hollywood evening, I sat on a bike, sweltering in a winter coat and furry boots.
  These lines get your attention without being ‘gimmicky.’  They keep you interested, and they make you guess and wonder what comes next. By themselves they evoke wonder and passion, surprise and suspense, and we can only assume that they introduce a compelling story. And that’s what makes for an interesting essay – telling a good story.

  There are 17 other openers in the Stanford survey (and tons more from my previous students), all of which I’ll share at my 4th Annual ‘Thick Envelope Magic’ Admissions and Application Boot Camp on July 9.  This day-long event is not just about the opening line of the admissions essay, though an entire class certainly could be.  ‘Thick Envelope’ also covers everything a rising 12th grader needs to know, ask for, do and complete to apply and gain admissions to a great college.  Students who attend will be able to complete (and submit) their college applications before school starts.

  This event is open exclusively to rising 12th graders.  Past attendees gave it rave reviews, and the curriculum has been updated to reflect all of the changes to the process (e.g.,, the essay now has a word limit), and  is even better this year.  If your student is a rising 12th grader and is home for the summer, there is no excuse to miss this event.  You’ll want to register them by clicking here.

  Most college applications can be completed as early as August 1, including the University of Florida.  Give your student a head start and an edge on what can be a stressful application process.  My July event has 14 registered students, so I have room for 6 more.  I look forward to seeing your child there.
   
• 

  collegepete 1:34 pm on June 15, 2011 Permalink | Reply
  Tags: ACT ( 5 ), Bright Futures, college ( 24 ), college funding ( 18 ), FAFSA ( 23 ), financial aid ( 37 ), FL Prepaid ( 4 ), Pell Grant ( 6 ), Public Institutions ( 6 ), SAT ( 6 ), scholarship ( 14 ), scholarships ( 16 ), university ( 11 )   

  Major Legislative Changes To Bright Futures’ Requirements 

  First the changes (then my commentary). 

  1. All students who wish to qualify for a Bright Futures Scholarship MUST complete a Free Application for Federal Student Aid, also known as FAFSA, even if they aren’t seeking federal financial aid.
  2. Starting with the 2011-12 high school year, graduates will be required to do more community service hours.  To qualify for a Florida Academic Scholars, you will need 100 hours instead of 75 hours, Florida Medallion Scholars will need 75 hours, and Florida Gold Seal Vocational Scholars will need 30 hours.
  3. Test scores will also change for Florida Medallion Scholars who graduate in the 2013-14 school year. Requirements have gone from 1050 on the SAT to 1170, and from 23 to 26 on the ACT

  You can read more about the new legislative requirements at the official Bright Futures Website.

  Regarding the changes to Bright Futures, my position has been and remains as follows:

  Bright Futures and Florida Pre-paid do not in and of themselves constitute a sound college strategy.  First, admissions to a quality FL State College is not guaranteed.  In fact, college acceptance rates this past year for in-state students were the lowest ever… and you can expect that trend to continue as State University Officials look to out-of-state students to boost their total net tuition revenue.  Second, both programs represent only a very small portion of the financial ‘inducements’ available to students – and with proper and integrated planning – you may find that so-called pricier private options are actually far less expensive and offer better academic preparation than our in-state system.  And finally, no matter which school your child ends up attending, the government will expect you to pay your fair share towards the cost of college.  They call this your Expected Family Contribution (EFC) and it is derived from your responses on the Free Application for Federal Student Aid (FAFSA).  It is the minimum amount of money any school will expect you to pay.  AND most importantly, it is a number that you can ‘manage’ with proper and ADVANCE planning. 

  If you haven’t done a FAFSA – and still expect your child to qualify for a Bright Futures award this school year (or in the future), you should attend my workshop on June 23^rd where I will teach you the rules, loopholes, and landmines behind the Title IV Financial Aid Regulations (that are used to determine your EFC).  Know these rules, you win.  Stay in the dark and you could sacrifice thousands of dollars in Bright Futures, not to mention the $150b available in Institutional scholarships and Federal grants that you would have otherwise qualified for.

  I will also show you how to help your child pick other schools that meet his or her academic and social aspirations, AND have the ability to offer you a significant discount.  The difference in the pricing and discounting among similar schools is often substantial and should be the chief driver of your admissions strategy. 

  Anyone who has college-bound or college students at home should attend this class.

  Best Wishes,

  Peter
   
• 

  collegepete 1:36 pm on March 18, 2011 Permalink | Reply
  Tags: Admissions ( 17 ), bracketology ( 3 ), Bright Futures, college ( 24 ), college funding ( 18 ), financial aid ( 37 ), FL Prepaid ( 4 ), March Madness ( 3 ), Public Institutions ( 6 ), scholarships ( 16 )   

  Will They Really Cancel FL Prepaid? 

  Today’s Herald and Sun-Sentinel ran stories about a proposal in the FL Senate to suspend the ever-popular FL Prepaid Program. While this proposal is far from becoming law, it does indicate the dire financial straits that the State finds itself. The concern from Sen. Evelyn Lynn (R-Ormond Beach) is that, with rising state tuition of 15% per year, the FL Prepaid Program will not have the earnings to keep up with such tuition hikes given the volatility in the stock market. Even though the Plan does not invest in the stock market, tuition hikes of 15% per year put a severe financial strain on a plan that is based on 6-7% increases per year.

  The Good News: if you already have a plan, you are unaffected by this proposal.

  The Bad News: The FL Prepaid Plan only covers a small fraction of the total cost of attendance (COA). The current COA at a FL school is, on average, $18,000 per year. That includes tuition, room, board, books, fees, travel money, pizza money, etc. The typical FL Prepaid Plan provides about $3,000 – $4,000 per year. That leaves you with about 15-Large left over to pay for one year at a State U.

  The Ugly News: Bright Futures, the scholarship program that is funded by our collective lottery addiction, is expected to shrink by $1,000 per student. And that’s if your student can meet the new standards of qualification. Also, it’s getting tougher to even get accepted to a FL state school, as reported by the Sun Sentinel this morning.

  If you are tossing and turning at night, wondering if you will be able to afford a college education for your child, then don’t miss my upcoming workshop next Wednesday, March 23. To register, visit http://www.LearnCollegeFunding.com. The event is free, but it could cost you thousands if you don’t hear this information.

  Also, if you missed my segment last night on “The Jonathan Zaslow Show”, then click here to listen in for 10 minutes of pure infotainment.
   
• 

  collegepete 11:44 pm on March 1, 2011 Permalink | Reply
  Tags: Bright Futures, college ( 24 ), CSS Profile ( 12 ), FAFSA ( 23 ), financial aid ( 37 ), scholarship ( 14 )   

  Bright Futures Losing Its Shine? 

  The Florida Legislature is getting ready to vote on a bill that will reduce the Bright Futures award from it’s current $3,700 to about $2,900 per year, making college in Florida more expensive for graduates of Florida high schools.

  With recent tuition increases of 15% per year at Florida universities, Bright Futures cannot keep up with the rising education costs. Florida’s precarious budget crisis has put further pressure on the Legislature to find ways to cut spending. As a result, the popular Bright Futures program, funded primarily through Lotto sales, is on the chopping block.

  Florida is not the only state seeing cuts in merit aid. Northern neighbor Georgia has made changes to its HOPE Scholarship, increasing the academic requirements needed to earn the award. Expect similar changes to Florida’s requirements, which currently are 3.5 GPA and 1270 on the SAT (3.0 and 970 for the partial scholarship).

  Here’s the reality: Bright Futures, while a great program that aids thousand of Florida students, is not the answer to parents’ challenges in paying for college. With total cost of attendance at a typical Florida university at about $18,000, the Bright Futures award only covers about 1/5 of the total. Certainly cuts to Bright Futures will be detrimental to many Florida students who are seeking a college degree. It will also force more families to fill out a FAFSA, putting competitive pressure on federal grants and other programs that are facing cuts in Congress.

  Parents of high school students should take action and educate themselves on the nuances of the financial aid system in order to gain access to those precious dollars that will be ever more difficult to access. To learn tips to consider and traps to avoid, check out http://www.LearnCollegeFunding.com.