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  • collegepete 1:04 pm on July 13, 2012 Permalink | Reply
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    Boston – The Greatest College Town in the World 

    ROAD TRIP! Second Stop – The City of Boston, the Greatest College Town of Them All

    Tuesday was a travel day — from Schenectady to Boston – which is two hours by car if Jill’s driving, or about 2-1/2 hours for everyone else. Boston is truly the standard by which all other college towns are to be measured. And though I’m admittedly a tad biased (city of my birth, my own college town and where I met my wife), it’s hard to debate the city’s collegiate creds. During the school year you’ll find yourself surrounded by more than 250,000 students from dozens of schools, living, studying and hanging out in this historic, dynamic and cosmopolitan city. It is almost impossible to get bored in Boston, and if you are a college student, you will feel right in your element. And if you’re the parent of one, you’ll be in yours as well.

    During our stay we visited extensively with three colleges — Boston College, Brandeis University and Tufts University. All three are located within a few miles of the ‘city’ in bucolic, suburban settings.

    First up was Boston College. BC is beautiful and brimming with activity, and the Admissions office was jammed packed with visitors all day long, and from all over the country. Summertime construction can be seen and heard throughout the campus, which is a gorgeous collection of gothic buildings, colorful stained glass, scenic quads with lush, grassy fields, and state-of-the-art athletic facilities, all within 15 minutes from downtown Boston. Our first assumption, which was confirmed in our meeting with Sr. Asst. Director of Admissions Danielle Wells, is that there is no geographical advantage in applying to BC as there might be at Union College. BC is equally competitive from everywhere.

    BC is among the more popular collegiate destinations combining reputable academics with nationally recognized athletics. Our hosts were quite proud of their recent NCAA Division I Frozen Four Championship, their 3rd in the past five years. If you’re not a hockey fan as an entering freshman, you will be by the time the season begins late in the fall term. Athletics remain an important part of the BC campus culture, either as spectator or participant (50% of BC students participate in either intramural or club sports).

    While BC is a proud Jesuit institution, being Catholic is certainly not a requirement for admission and people of all faiths are welcome there. Case in point: we met with Alan Lipchin, a Jewish student who is also a tour guide, who gave us great insight on what it’s like being Jewish on a predominantly Catholic campus. BC has a thriving Hillel, serving the cultural and spiritual needs of the school’s 200 Jewish students.

    Financially-speaking, parents should not be deterred by the school’s sticker price. BC’s admission process is 100% need-blind, and the school offers very generous financial aid packages to accepted applicants with demonstrated need. And although the school’s primary discounting instrument is through need-based financial aid. BC does offer full-tuition merit scholarships to a very select group of its incoming freshmen (about 15 total). You can’t apply for it, but you can be invited by the school to interview for this prestigious and valuable award. And if you are truly an exceptional candidate with ‘Ivy League’ grades and scores, or you’ve started your own nonprofit or discovered a planet — you just might qualify.

    BC is a highly prestigious institution, and if you’re the type of student who always dreamed of big football Saturdays and still want the benefit of personal attention and small classes, and you have the grades/scores to qualify, this could be a very affordable option, perhaps less expensive than a state university, with so much more to offer.

    I was going to discuss Brandeis and Tufts in this column as well, but this is probably too long already, so I’ll save those schools for next week. By the way, if you’re confused about how a private university like BC with a $50,000 price tag school can cost you the same or less than a public school with a much smaller price tag, I’ll be explaining exactly how the economic laws of collegiate supply and demand work to create this type of price elasticity at my workshop later this month. In the interim, if you have questions, please feel free to reply to this email with them and I’ll do my best to reply in a timely fashion… I’m still on the road (heading West today – and Jill will most definitely NOT be driving).

    Dedicated to Making Your Child’s College Dreams AFFORDABLE,

    Peter

    P.S. Please feel free to share this blog to anyone with college-bound kids. They’ll thank you for it.

    P.P.S. Many thanks to Chris M, a BC Junior (and College Pete alum) and Meryl S., a Brandeis grad (and big sister to a Brandeis senior and College Pete alum) for the ‘good-eats’ recommendations!

    P.P.P.S. The local folk in Boston are a bit peeved about Ray Allen taking his talents to South Beach. I’m wearing my Miami Heat t-shirt today just to be a bother.

     

  • collegepete 2:50 pm on September 2, 2011 Permalink | Reply
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    September Wake Up Call For High School Parents 

    If you are the parent of an 11th or 12th grader and have been putting off dealing with this college thing until ‘after the summer is over’ — consider this your official summer’s over wake-up call!

    Parents of 12th graders:  The awards and financial aid offers that your child will receive are based on THIS tax year (2011).  That means you have just four months to position your income, assets and personal finances to get the maximum amount of money  from each school.  Do you know what this year’s asset allowance will be?  Do you currently have money saved in your child’s name?  Are you planning on putting money into (or taking money out of) your retirement plan this year?  Do you know how much your pre-paid plan is worth?  If you’re not sure what the answer should be to any any of these questions, you’ve got to find out!  Now.  Remember, even Bright Futures (the state’s merit scholarship program), as well as many other non-need based merit programs, now require ALL applicants to file a FAFSA (Free Application for Student Aid) regardless of whether you expect any financial aid.

    Parents of 11th graders:  You are literally ‘on the clock’.  Since the offers your child will receive will be based on the 2012 tax year, it is imperative that you start (and ideally, complete) your college funding strategy BEFORE the end of this tax year.  A simple mistake in how you handle your finances in the next year can easily cost you thousands in lost financial aid down the road.    Soon enough, if it hasn’t already started, you’re going to be inundated with college literature.  Before either your child or you fall in love with a school, you need to take control of the process and understand how colleges set and discount prices, how financial aid works and how to compile a realistic list of schools that will meet your child’s academic and social needs, and your family’s budget.

    For 9th and 10th grade parents: Planning for college expenses can be a stressful effort.  College costs continue to rise at a double digit clip.  And while financial aid is widely available, the rules are complicated and most families leave thousands on the table because they don’t understand the nuances of those rules.  By understanding the process and the rules of the game, middle class families can save themselves thousands off a 4 year education.  But this does not happen automatically.  For most families, there are a number of legal and ethical strategies to reduce the amount of money you will be expected to pay for college.  The earlier you start, the more strategies you will have at your disposal.

    A college education is one of the largest investments you’ll make in your child.  To ensure the greatest return on that investment, it’s best that you make decisions while not in ‘panic’ mode with tuition bill in hand.

    No matter where you are in the process, the best way to stack the odds in your favor is to arm yourself with information.  I’m holding two workshops in September on How to Pay for College in This Economy.  The first is on Thursday, September 15 at The Sagemont School, Upper School Campus in Weston.  The second is on Saturday, September 17 at Temple Beth Sholom in Miami Beach.  Both are free and open to the public and will be chock-full of current information about today’s college process.   To register, visit http://www.EmergencyFinancialAid.com.

    During the class, we’ll cover:

    • What to do if your 529 is not enough
    • The biggest mistake parents make with FL Prepaid Plans
    • The critical questions you must ask of every school on your student’s list
    • Why it’s taking longer than 4 years to complete college, and how to buck this trend
    • How a pricey private college can cost less than a cheaper state university (even with FL Prepaid and Bright Futures)
    • More!

    Registration is recommended so that we can confirm your seat and ensure you receive reading materials.  If you are a high school parent, you don’t want to miss out on this information.  It’s free to attend, but ignoring this message can end up costing you thousands of dollars.

    If your student has worked hard to earn a spot at a top college, then do your part to figure out how to pay the bill.  I look forward to seeing you later this month.

     

  • collegepete 12:26 pm on August 3, 2011 Permalink | Reply
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    The Budget Compromise and Your College Funding 

    With the agonizing Washington debate on the budget deal behind us (for the most part), it is worth noting that Pell Grants, those precious federal dollars that are awarded to low-income families, will be preserved (for now) at $5,550 for the maximum award.  Also preserved (for now) are student direct loan subsidies, making borrowing more affordable for undergraduate college students.  After 2012, the future of both the Pell Grants and Direct Loan subsidies remains unclear, as Congress may consider reducing or eliminating these programs.

    For the upcoming year, this is great news for low income Americans who are trying to pay for college, and in my view it’s the right policy for America’s future.  We need policies that improve access to higher education, especially for America’s working poor.

    For most of America’s middle class, however, the Pell Grant decision will have little direct impact.  That’s because Pell Grants are rarely awarded to the middle class.  But that doesn’t mean the middle class doesn’t have access to financial aid, including grants.  You see, in addition to federal aid, colleges and universities will award their own need-based aid in the form of grants to middle class students, which includes families earning up to $250,000 in adjusted gross income.  And these amounts may greatly exceed the maximum Pell Grant of $5,550 by 4x or more, depending on the school.

    That’s why all families, regardless of income, should start the college planning process as early as possible, and it’s why all families should apply for financial aid.

    I’m holding two events for parents of high school students this month, as we prepare to send our kids back to school this fall.  The events are designed to help parents financially prepare for college.  We’ll also discuss trends in admissions, and how these may be financially motivated.  Higher education is a big business, with cost of attendance ranging from $20K to $60K per year.  It’s your responsibility, as a consumer, to understand the economics of higher ed and learn how to minimize your out of pocket costs.

    My first event is a LIVE webinar on August 9 at 7 pm.  If you cannot join the webinar then you should come see me in person on August 25 at the Pinecrest Community Center.  You can register for either event by clicking here.  If you are the parent of a 10th, 11th, or 12th grader, you need to hear this information before attacking the college application, admissions, and financial aid process.  Putting this off will only cost you money and increase your frustration.

    Best,

    Peter

    P.S. I’m also offering my “Thick Envelope Magic” College Admissions and Application Boot Camp on Saturday, August 13 to rising 12th grade students.  This is a great kick in the pants for your student to get a jump start on those dreaded college apps.  For more information on the Boot Camp, click here.

     

  • collegepete 6:08 pm on July 28, 2011 Permalink | Reply
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    A School For Everyone: The College Tour Recap 

    After a long and very hot week touring Notheast colleges, I am thrilled that this message is coming to you from my cozy, air-conditioned office in Weston.  Jill and I toured 4 colleges in 4 days (Cornell, Ithaca College, Skidmore, and Vassar), and yes, we were pretty tired at the end of it.  But it was worth it.  There is simply no substitute to being there, and after meeting with Admissions and Business officers,  I have a few very important pieces of information to share with you regarding how you should be planning for college.

    • There is a great college for every student, and if you map out your admissions and funding strategy together and before your child begins applying, you will greatly improve the odds that s/he will pick and get accepted to schools that you will be able to afford.  Discounting is not a random exercise and it is no longer an afterthought.   Colleges strategically and intentionally use both need-based Aid and merit-based (or non-need based) aid   — though certainly not in equal measure — to induce students to attend their institution.  Without a doubt, the largest source of free money is in need-based aid (more than $150 billion worth – yes, I said billion).  It is a legitimate source of college funding for forgotten middle class families, and choosing schools that offer substantial need-based grants should be a critical component of your admissions strategy.
    • More so than ever, networking and the ‘Little Things’  can move the needle on admittance and funding offers.  Despite technology (or pehabs because of it), standing out today often requires showing up. Get out there and visit colleges!  Schools want to see you and want to know that you want to go there.  Nothing demonstrates interest like your visit to their campus.
    • Students with specialized interests such as Art or Drama should consider liberal arts schools that offer majors or minors in the specialized field.  We saw amazing theater and art programs at places like Skidmore, Ithaca, and Vassar.  At these schools and many like them, you’ll find great students, great professors, small classrooms, and a diverse student body with a wide mix of interests.  Oh, and they are MUCH more generous with financial assistance than any specialty school.
    • Just because a school has a need-aware admissions policy does not mean that it isn’t generous.  A school like Skidmore does not hide the fact that they are need-aware, but if you get admitted then they guarantee they will meet 100% of demonstrated need.  So for the students who do get in, they are awarded handsomely.  Many other schools follow the same principle.
    • And though I hate to admit it, there can be an admissions advantage to applying early decision.  This was confirmed by the officers I met with and by the numbers. However, don’t let your student apply Early Decision unless you are sure you can pay the bill.   If you apply early decision, you are ‘locked in’ and bound to attend that college – you’ll have zero leverage when seeking a tuition discount.  The student, the parents, and the high school guidance counselor must sign a contract and confirm that the Early Decision rules are understood.

    I’ll be elaborating on these and other conclusions, as well as sharing money-saving tips to help families pay the college bill, during my upcoming LIVE webinar on August 9.

    Topics we’ll cover include:

    • Why now EVERYONE, regardless of income, should apply for financial aid without exception
    • Accessing the precious and disappearing grant and scholarship dollars
    • Why it takes students 5+ years, on average, to graduate from college and how you can buck this trend
    • Dollars and Sense – how to successfully overlap your child’s admissions strategy with your ability to pay
    • How some assets can penalize you 5x, whereas other assets don’t count at all
    • How to get admissions officers to fall in love with your student

    If you are the parent of a 10th, 11th, or 12th grader, and you are stressed about the entire college process, from admissions to financing, then you should tune in to this LIVE webinar.  If you are too busy for the webinar, you can catch me in person on August 25 down in Pinecrest.  Click here to register for either event.

    Best,

    Peter

     

  • collegepete 7:04 pm on July 20, 2011 Permalink | Reply
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    Skidmore College: Location. Location. Location. 

    Check out this short video with a summary of my trip to  Skidmore College.   Skidmore is ’at the center of it all’, one of 16 schools in the region,situated in the foothills of the Adirondacks and on the outskirts of  cute, yet bustling Saratoga Springs, NY - 30 minutes from Albany and Stratton Mountain,  – and just a three-hour drive from three major cities (NY, Boston and Montreal).   It’s easily accessible from South Florida, with nonstop flights from Ft. Lauderdale daily.

    Skidmore is a small, competitive liberal arts college with an all-undergrad population of about 2,500 students, a 9:1 student-faculty ratio AND a wide variety of pre-professional curricular options, including busines, exercise science and education (among other offerings).   A generous, but need-sensitive school (see video for an explanation), Skidmore should be on the short-list of every aspiring art student, as well as those desiring a small, competitive, liberal arts college.

     

  • collegepete 4:01 pm on July 18, 2011 Permalink | Reply
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    The Quintessential College Town – Stop #1 on College Pete’s College Tour 

    Peter with Lisa Searle, Ithaca College admissions counselor

    Greetings from Ithaca, NY – home to Ithaca College and Cornell University, and the number one rated College Town in America (according to USA Today).  No question there’s a palpable college vibe here.  In fact, I’m writing this from the Ithaca Commons, one of the two pedestrian malls where you’ll find both a great mix of cafes, laundromats, bars and restaurants AND an eclectic mix of  PhD’s, street performers and students mingling about and taking advantage of the free wifi.

    We spent today at Ithaca College (IC) where I was treated to a great tour led by Joe Alfano, Class of 2013 — and then graciously hosted by Rich Wong (Assistant Director, Admissions) and Lisa Searle (Admissions Counselor).

    IC is a relatively small school (6,000 undergrads) with a cosmopolitan feel!  It’s known for its first-rate, personalized academic approach and a practical, experiential learning environment.  The average class size is just 17 students and the student faculty ratio here is 12:1. As you’ll see in Joe’s video, If you blow off a class at IC,  you can expect to be called on it!  IC is unique in that it’s liberal arts at its core, but has highly rated programs in Music (as Mr. Wong said, “… Here’s where you come to see tomorrow’s Broadway stars”) and theater, a school of Health & Human Services and a Business School with a real-time trading room and the highest CPA pass rate in NY State, not to mention it’s world-renown Park Communications School, which includes a Pace-maker awarded (= to Pulitzer prize) student paper, the only local new broadcast and a satellite campus in Burbank.  It boasts many famous alum including Robert Iger, President/CEO of Disney.

    Students at IC can take classes at Cornell (and vice versa) and more than 97% of IC grads are gainfully employed or in grad school within a year of commencement.   It is the only school that I have seen that has made the Career Center a scheduled stop on the tour!   

    Also,

    • 85% of IC students receive some sort of tuition discount.  In fact, IC automatically considers each applicant for one of three merit-based scholarships (President’s, Named and ALANA) — and then offers three additional merit scholarships including the Park Scholar Award that covers the full cost of attendance at the Communications School for all four years!  In all, IC awards more than $150 million in need and non-need based aid every year.

    -IC takes a holistic approach to Admissions.  Counselors are encouraged to spend as much time reading an applicant’s file as necessary (by comparison, some schools limit the amount of time to as little as 7 minutes per applicant).  As Mr. Wong said, “We are looking for reasons to admit, not to deny!”

    -Lisa Searle told us to tell our students to please ‘Be boastful … we want to know what makes you great, or why you stumbled.  If you don’t tell us, we won’t know!”

    • We also learned than only 35% of students come from outside the Northeast  — and that puts our South FL students at a great geographic advantage and that Ithaca welcomes AP credits (3 or better gets credit) and college credits from dual enrollment programs.

    Overall, Ithaca College is an outstanding choice for good students who want a residential, engaged campus life, a hands-on educational experience in an experiential, pre-professional environment with a liberal arts core.

     

  • collegepete 3:04 pm on July 13, 2011 Permalink | Reply
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    The End of Subsidized Loans and Grants? 

    How’s this for irony?  Apparently, the same lawmakers engaged in negotiations to reduce our national debt are seriously considering raising that (the debt load) of our most financially vulnerable population –  students (college debt already exceeds consumer debt and will likely reach $1 trillion this year).  Even more ironic, this comes at a time when more than 50% of new jobs created (or saved) will require at least a college degreee –  and at a time when our economy needs more college graduates than ever to stay competitive.

    While there’s no certainty that these proposals will be part of the final debt ceiling compromise, in a report yesterday by popular website The Daily Beast, Congress and the White House both put forward new plans that would slash student aid programs, including the elimination of student loan subsidies and additional cuts to the Pell Grant.  The proposals, which would make students responsible for paying the interest their loans accrue while they’re still enrolled in college, will save the government about $40 billion over the next 10 years (a relative fraction of the total multi-trillion dollar burden), but can cost our kids as much as $14,000 more than they’re currently paying (that’s a lot more to a middle class college grad).

    My take:  We’re essentially legislating the legal transfer of the federal government’s debt to our middle class kids — which in and of itself seems abhorent, but what’s more concerning to me, is that these changes are being considered for the next federal budget (for 2012), which leaves forgotten middle class parents with high school students or kids already in college precious little time to prepare!

    But  I’m a glass half full guy!

    So, while 2011 was officially the most difficult year for college applicants ever, with nearly every school seeing an uptick in the sheer number of applicants, it was also one of the most generous on record.   The discount rate — the difference between the college sticker prices and what students actually pay,  after accounting for financial aid and other non-need inducements — reached an all-time high of 42.4%!   In fact, 88% of first-year, full-time students received some sort of tuition discount from the institution they were attending.

    Higher education is a business – a big business.   There are more than $150 billion worth of potential inducements available to offset the cost of college.  Now more than ever, you need to re-stock the odds in your favor by arming yourself with the facts, and learning the rules of today’s college business.  If you do so, and act accordingly, you will be in a position to send your child to the college s/he wants at a minimized cost that ensures that no one is burdened with the debilitating downward cycle of student debt.

    On August 9th, I’m holding my first ever live Webinar where I’ll be taking your questions  and discussing exactly how these legislative and business changes will affect your college admissions and funding plans.  During the program, I’ll be going beyond the typical one-size-fits-all, cookie-cutter advice you may have received, and I’ll teach you what’s really happening with college admissions and funding today.

    Keep in mind that once again colleges will see a record number of applicants this fall, all of whom will be vying for the same slots, precious merit scholarships and disappearing post-recession grants.  Where your child goes to school and equally important, what price they will pay for it —  will not just affect four years of their life, but potentially their next 40 years (or more).

    Want to tip the scales in your favor by understanding exactly how to find, get accepted to and get a discount for college, then you should register for this event.   I have a limited number of lines reserved, so advance registration is a must.

    Best,

    Peter

    p.s. The 5th Annual ‘College Pete College Tour’ officially kicks off on Monday, July 18th.  I’ll be meeting with Admissions Directors and Financial Aid officers at colleges around the country… and blogging about what secrets they share.  Check out my Facebook page for my on-site video blogs.  First stop:  Ithaca, NY.

     

  • collegepete 10:16 am on July 1, 2011 Permalink | Reply
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    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
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    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 23rd 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 9:09 pm on May 30, 2011 Permalink | Reply
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    $100,000 to Skip College? 

    I read today in the Herald that internet mogul Peter Thiel is paying students to not attend college.  Instead, the Paypal founder and Facebook investor is offering $100,000 in seed money to qualified high school students so that they can pursue their entrepreneurial dreams.

    Thiel’s “20 Under 20″ fellowship is designed to take the brightest of today’s young minds and give them the opportunity to put their smarts to work right away so that society can benefit now, rather than have these brainiacs waste their time on a 4-year college vacation.  Or at least that’s the perceived alternative.

    I like what Thiel is doing.  If our best and brightest can take $100K and turn it into millions, more power to them, and hopefully more benefit to the rest of us.  And it’s great that these kids can enjoy the entrepreneurial experience at such a young age, albeit at reduced financial risk of their own.  And this at a time when many of their peers will soon be burdened with thousands of dollars in student debt.

    These “20 under 20″ kids are the exception.  For most kids, the best route to success after high school is to go to college, study hard and earn a bachelor’s degree.  College graduates earn $1.2 million more over their lifetime than those with only a high school degree.  And according to the US Bureau of Labor Statistics, unemployment among college grads is 4.5%, compared to 9.7% for those with no college at all.

    Unfortunately, too many kids view college as 13th grade, an opportunity to party, go to football games, and take road trips in between classes.  I’m all for having fun, I’m a huge football fan, and I love a good road trip.  But our students need to leave home with greater ownership of their goals, academic desires, and even career pursuits. That way, the return on the college investment will be well worth it to them and to their parents.

    As for Thiel’s 20 superstars, I’m curious to see where they are in 4 years.  I hope they succeed and serve as examples of entrepreneurial greatness, the next Gates or Zuckerberg.  The worry, perhaps of their parents or grandparents, is that they fail and will have to fall back on a second or third choice college, because Princeton or Carnegie Mellon won’t want them anymore.  But life should not be lived in fear; if an 18 year old has a chance to pursue a dream, and if a tech mogul is prepared to back it with 100 Large, then go for it.  These kids will have lived, and for this they will surely enjoy success, either now or someday in the future.

     

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