StateUniversity Blog

A College Education May No Longer Be the Wisest Financial Venture

Wed, 04 Nov 2009 00:00:00 GMT

Growing up, I had a grandmother who would set up her soapbox and proclaim from the ends of the earth “college or bust!” For without a four year degree, we could expect to make a living flipping burgers and live in a life of poverty and shame.

Interestingly enough, a decade later, that same grandmother, who is known for her Wall Street Journal article clippings that seem to gather in piles around the four corners of my house, sent an article entitled “Is a College Education Still Worth the Investment” by Joseph Slife. Observing my brother’s current crisis with student loans and nothing but a low-paying entry-level job to make up the difference, I was intrigued; I have had my misgivings about the college education investment for a while.

Current Facts About a College Education Investment

It comes as no surprise that college tuitions are rising. News reports of tuition hikes, college endowments curtailing, and intercollegiate sports programs dwindling, as I wrote about yesterday, have peppered the headlines. It is an uncertain time especially when graduates are leaving the campus life to enter into a desert wasteland of job opportunities with nothing but cumbersome students loan debt weighing down their backs.

Slife, author and former college instructor, wrote in the aforementioned article “four year graduates actually tend to be at an income dis advantage to high school graduates.” He also said that “the long-held assumption that earning a college degree will yield a strong-return-on-investment may be starting to crumble.”

College tuition rates are increasing greater than the rate of inflation. According to the College Board report, Trends in College Pricing, “published tuition and fees at public four-year colleges and universities rose at an average annual rate of 4.9% per year beyond general inflation from 1999-2000 to 2009-10, more rapidly than in either of the previous two decades.”

Slife remarks in his article that despite these rising trends in college expenses, the “product,” in other words, a degree, has not risen to the quality that would parallel these lofty tuition costs. Slife also mentions that “abundant government aid is actually driving up the cost” and quoted a 2005 Cato Institute Study that “these programs are counter-productive. Basic economic theory suggests that the increase in demand for higher education brought about by a system of grants and loans will increase the price of higher education.”

In a 2008 New York Times article, it was reported that 2007 graduate and undergraduate students acquired over $143 billion in financial aid. That amount has since increased.

When and Who Is College Right For?

Sadly, going to college in today’s world comes down to a question of opportunity cost and worth. Institutions have sucked themselves into the vortex of money, money, debt, and more money, which is slowly but surely taking away the benefits to attend a four year college for the average high school graduate.

If the high school graduate or the parents are to be wise about a four year degree, they must first consider some factors:

Alternative Options

In many cases, students who have shown prowess in certain fields or areas of industry but are not necessarily academically inclined, vocational schools or two year schools that offer a certification in a particular field can be much more beneficial on education cost and possibility for employment. Also, online courses or commuter schools that alleviate the high costs of room and board are also options you may want to consider.

Work To Save

I think, anymore, students who jump one ship to another after high school, may be making a hasty, unwise decision. There may be weight in saving money and considering/researching what options are best instead of rushing headlong into a load of debt without charting a plan for the future.

Scholarships

Scholarships are available, but to acquire them, it takes some effort. Exhausting the scholarship route is never a bad thing.

Motivation Inventory

The student who is considering college may have 10 different reasons for wanting to go, but if only a sliver of that is to succeed academically, it may not be the best time or the wisest decision. College today is an investment—no different than how one would invest in stocks or real estate. So many young adults never look beyond what’s current and appreciate the amount of responsibility that lies ahead. If you are expecting a 4 year degree to magically earn you a comfortable income and a cushy job, think again. Chances are it may not happen overnight, if ever in the light of the current economy. That is why it is so important not to rush into a four year degree, but carefully consider your options before making your investment.

Knight Commission Report Leads Many to Believe College Sports 'Unsustainable'

Tue, 03 Nov 2009 00:00:00 GMT

What’s Killing College Football?

News outlets all across the country are reporting the recent findings of the Knight Commission report entitled College Sports 101 released earlier last week with regard to intercollegiate sports program costs. The alarming results have led many to believe that college sports as we know them, namely college football, may be in extremis, and there is no quick solution in sight.

Excessive Spending

According to the report, labor costs for intercollegiate sports are fixed and work as somewhat of a self-governing entity, reporting to central administrators within the universities. Though median budgets for university sports programs sit at around $40 million, there is an extensive difference between top spending universities ($83 million) and and lowest spending universities ($14 million).

Athletic programs are seeing the highest percentage of spending going towards salaries and benefits, namely coach salaries. The rest of the expenses are broken down fairly evenly between tuition, scholarships, facilities, travel and recruiting, equipment, fundraising, medical and other miscellaneous costs.

The problem that universities are encountering is the fast growing rate of spending.

In 2009, the National Collegiate Athletic Association published a report that found median operating spending for athletics increased 43 percent between 2004 and 2008, but median revenue generated by athletics programs grew only 33 percent over the same time period (Fulks, 2008). In another telltale spending reality a few years earlier, the NCAA reported in 2005 that athletic expenses rose as much as four times faster than overall institutional spending between 2001 and 2003 (Orszag & Orszag, 2005). (Knight Commission, 2009)

Operating at a Deficit

According to economists, within the past several years some of the larger schools that participated in the most revered conferences reported some of the largest financial deficits in the country. Yet, these schools continue to operate their sports programs on these deficits, relying upon government and university subsidies. Students have seen a rise in fees and tuition as a result.

The median net revenue for one league’s member athletic departments was negative $7.2 million; for another it was negative $10.4 million. For the former, its red ink had grown by 44 percent since 2005. (Knight Commission, 2009)

Coaches Salaries Are Over-the-Top

Despite these outrageous deficits, top athletic programs are paying salaries in the millions. In fact, some of the most unnecessary spending is seemingly stemming from the whopping salaries some of these big-ten universities are paying out to high profile coaches. I was appalled to read that the University of Kentucky paid a men’s basketball coach from the University of Memphis $2.5 million in addition to several luxury automobiles, a country club membership and $200,000 to break his Memphis contract.

The University of Alabama has also been reported to have paid $6.6 million toward the salaries of the head football coach and his nine assistants. This amount is more than “32 bowl-subdivision programs spend on football as a whole, according to an analysis by the Orlando Sentinel.” (Limon, 2009)._ (Knight Commission, 2009)

What Does the Future Hold?

If spending and large deficits continue, college presidents are concerned that there will not be enough financial power to keep them sustained. The only minimal solution college presidents are discussing is to cut costs in international team travel, hotel stays and other lower scale expenditures. No other solution is in sight. The future for colleges sports is grim indeed.

How to Choose a Career: The Strength-Centric Approach

Wed, 28 Oct 2009 00:00:00 GMT

Continuing on in my study of choosing a career goal before college, there are several approaches that you can take in narrowing your possible choice. If you have specific interests, passions, or hobbies that you would like to pursue further, or if you have clear-cut strengths that you believe could benefit a certain job, this is an article for you.

(NOTE: If you have not even a clue about the aforementioned, you need to start at the beginning : How to Choose a Career: 4 Basic Questions.)

What is a Strength-Centric Approach

I find social and cultural anthropology, its flow, its patterns very interesting, and in view of analyzing human strengths and human demand, I came to somewhat of a generic conclusion: The flux of humankind is very much like a jigsaw puzzle. Our individual strengths line up with other individual needs and so a demand will be birthed, creating a need for jobs that will encapsulate our strengths. (My mother always accused me of spouting hot air, and now I’m starting to believe her.)

Anyway, if you can muster a point from my “generic conclusion,” you’ve found the meaning of what I call a strength-centric approach. It’s actually very simple:

Careers Categorized By Strengths

I was recently given the book, “All-in-One College Guide,” by Marty Nemko, Ph.D., a very comprehensive resource that outlines the college process from start to finish. In this book, the author, Nemko, categorizes a number of popular careers according to a general strength: Word-Centric, People-Centric, Science/Math Centric, Art-Centric.

I feel this is a helpful approach for those who know their strengths, but need a jump-start for career ideas. (I’ll let you do the research on the details.)

Word-Centric Career Ideas

If you love words, whether to speak them or write them here are some career options that you might want to consider:

Editor
Foreign Language Interpreter
Journalist
Lawyer
Librarian
Linguist
Professor
Publisher
Radio/Television Broadcaster
Stenographer
Writer (Author, Novelist, Ghostwriter, Company Blogger, Copy Editor)

People-Centric Career Ideas

If you are drawn to people in any capacity, there are plenty of career ideas for you:

Coach
Counselor
Clergyman
Customer Service
Funeral Director
Politician
Psychologist
Public Relations
Realtor
Retail
Salesman
Talent/Employment Agent
Teacher

Science/Math-Centric Careers

For you number crunchers and science fanatics out there, here are some careers that might fit your bill:

Accountant/Finance
Administrator
Architect
Banker
Chef
Engineer
IT/Computer Programmer
Nurse/Physician
Medical Examiner/Mortician
Medical Specialist – Optometrist, Dentist, Psychiatrist
Pharmacist
Statistician
Stock Broker
Trades – Electrician, Carpenter, Roofer, etc.
Therapist
____ologist (zoologist, meteorologist, biologist)
Veterinarian

Art-Centric Careers

And the moment we’ve all been waiting for, careers for artists or artsy-fartsies as my mother calls them—jobs that are most coveted, but definitely not for all. The problem with finding employment in the arts is the work is either inconsistent, highly competitive or rarely lucrative unless it is of greater echelon. With that aside, it’s always okay to dream, right?

Actor
Art Director
Audio/Video Engineer
Cameraman
Dancer/Choreographer
Fashion/Costume Designer
Fashion Stylist
Film Director
Filmmaker
Foley Artist (creates sound effects)
Graphic Designer
Image Consultant
Interior Decorator
Interior Designer
Landscape Architect
Make-up Artist
Musician
Painter
Photographer
Print Model
Singer
Video/Disc Jockey

How to Choose a Career: 4 Basic Questions

Tue, 27 Oct 2009 00:00:00 GMT

If you are a regular reader, you might notice a common thread between blogs this month—choosing a career and choosing wisely. For some, the future is mapped, its charted, its financed, and ready to rocket to the limit. For others, choosing a career goal is an agonizing topic of ponderation.

The Story of Brother Number One and Brother Number Two

I have two younger brothers, one who recently graduated college with an aviation administration degree and one who is in his junior year of high school. Younger Brother Number One had passionate interests since we were little kids. He had big dreams about becoming a pilot, and when he entered into his primary years at college, he made choices in his schooling that would potentially lead up to acquiring his career goal. It was easy for him. He knew what he was good at and what he hated. He had specific interests and worked his resources to the best of his ability. (However, I will mention that he chose a career whose industry tanked in the economic downturn, but that is, all together, another topic. Check out Choosing the Wrong Degree in a Bad Economy May Lead to Unemployment)

The bottom line is he had a focus, a goal to reach, which helped him in his efforts at school—academically and emotionally.

Is that you? Are you Brother Number One? Do you have an idea of where you see yourself in ten years with regard to a career? If not, be encouraged. Many students have a fuzzy visualization of their employment prospects, similar to my youngest brother, Brother Number Two, who has absolutely no idea of anything regarding personal strengths, interests, career goals….nothing.

If you are like Brother Number Two, I appeal to you in every sense of the word, to ask yourself four basic, very general questions. Sometimes we look too much at the details and not at the bigger picture which can cause us to miss what it is we are looking for.

Very Basic Question No. 1

What Am I Good At?

First off, do NOT say “nothing.” That is not true. Everyone, every single person has a strength; however, some strengths are hard to find. There are clues or triggers that may help you in finding your strength:

Clues

what you enjoy, what entertains you (movies, computer games, outdoor activities, clothing, etc.)
how you keep your room, what you display, how you display it (friends, books, sentimental items, etc.)
belief systems (religious, spiritual, political, humanitarian, etc.)
what you collect (art, magazines, electronics, etc.)
areas your friends, family, teachers, mentors, most encourage you (“you have the best…….”; “you are always………..”; “you’re good at……..”
school subjects that come easily or you grade well in

Triggers

Are you a word or a numbers person?
Are you a people person?
Are people drawn to you?
Are you drawn to justice and freedom?
Are you able to explain or teach others?
Are you attracted to color, shapes, lines, and structure?
Are you a fix-it, build-it, how does it work person?
Are you a food person?
Are you drawn to different cultures and travel?
Are you a visionary?
Are you reactionary?
Do you follow directions well?
Are you a leader or delegator?
Are you easily grossed out by blood?
Are you a paperwork details/organization person?
Do you like to read?

Very Basic Question No. 2

What Do I Hate?

Aversions on their mild points can be effective motivators and can help you weed out things that you dislike on your path to a major and then on to a career.

For instance, I hate sales. I hate being the receiver of a sales pitch; I hate giving a sales pitch. Of course, I’m not saying I hate people who do sales. I’m simply saying the career and study of effectual sales is, for me, a huge deterrent to any job offer I might receive.

Think of things that you have misgivings for:

a subject
a service
political stance
job position
a product (energy drinks, for example)

Very Basic Question No. 3

What Sounds Interesting?

Do you picture at all or romanticize an ideal job? Also, where do your interests lie? If you have none, do you have hobbies or things that entertain you, even as obscure as habitually watching YouTube videos? Examine your interest level when measured against the idea of a specific career.

Very Basic Question No. 4

Who Do I Know?

Have you heard the saying, It’s all who you know? Well, very typically, that saying is true. Sometimes, it is good to survey the “in’s” you may have as gateways toward steady future employment. In these cases, whether the job opportunity fits your model of a perfect career, it should come in at a close second. So if there is a empty office in the family business, a venture with a friend, or a job opening with a current or previous employer, it may be worth looking into …tuition reimbursement?

Parents' Four Step Guide to the College Enrollment Process

Mon, 26 Oct 2009 00:00:00 GMT

Parents play an essential role in the college enrollment process. Without their efforts, resources, and faithfulness to their child, entering into a college with ease may not necessarily betide. For this reason, it is important for parents to become acquainted with information that gives guidance and insight in order to find the right college for their child and help them enroll successfully.

A parent’s role is a delicate one. Too much involvement can leave their child feeling as if their opinion is irrelevant and cause dissent between the parent and the student. Too little involvement can leave their child in the balance of how to go about a complicated process, and when mistakes are made, it can cost the student time and money, possibly a missed semester. It is consequential that the parent find the adequate balance of collaboration. Here are four steps that a parent’s involvement can be most valuable:

Four Steps of Parental Collaboration

Visiting Colleges

The student will most likely have several schools in mind that he or she would like to attend, and schools can most certainly look better on paper than in actuality, so planning a visit to the school is recommended. Have your child narrow their list of school choices to top picks in greater contrast to the other, e.g., large school vs. small school, etc.

When: The best time to visit any campus is during the week sometime in the fall or even early spring where classes and activities are in full operation. Check the school’s website to make sure there are no black-out dates for touring and if advance notice is required.

Why: College websites and brochures are not going to give you a first-hand look at the day-to-day functions such as student to faculty ratio or class size, the professors, food, the diversity of the student body, the social activities and the housing adequacies. Make sure when you visit, these elements are a fit for your child’s needs and comfort level. Also, during the visit, take up the opportunity to get as much of the campus publications and business cards as you can that only be obtained in a visit.

How: Researching is the best way to prepare. This can give you and your child an idea of what places on campus to visit. Get a map of the campus, and make a list of places that interest you and your child. If advance notice for touring is needed, make sure to schedule your visit accordingly.

Also, have your child make a checklist of things to do: admission tours, faculty/student interviews, sit in on a class, eat in the cafe, visit housing facilities, visit the bookstore and library, collect school publications, and visit student activities bulletin boards to get an idea of the level of campus social life.

What: Bring a camera, and have your child pack a notebook to document things that stood out to him or her that can later help in determining the final school of choice. Don’t forget the “to-do” checklist.

Application Process

During the application process, the parent can be most helpful in gathering information on deadlines and requirements and helping their student with organizing such. Get a monthly calendar and create a checklist as a visual guide for the student.

Remember, that you cannot fill out the application for them, but encourage them to be as honest as possible. Admission officers can sense embellishments very easily. Character and integrity shine through brighter than applications overloaded with fantastical accomplishments. When collecting people to write letters of recommendation, help your child choose people that can write about the type of person the student is rather than their credentials.

Investigating Scholarships

Scholarships can be available through numerous organizations. Employers, churches, various institutions can all offer scholarships so investigating these avenues for free funding is advantageous. Be sure to check with the school’s guidance office to see if there are any other types of scholarships and the deadlines for applying.

Scholarship Scams

Beware of scholarship scams. Fraudulent scholarships have blanketed the internet. Protect your child by knowing the tall-tell signs of chicanery.

Signs of Scholarship Scams

Financial Aid

Finances and the complexity of federal and private lending may not be something your child is privy to. This can be a very significant duty for the parent in the enrollment process. Getting as much information and researching the different methods of financing is essential. There are many resources to guide you in this process.

Federal Student Aid

Facts About Financial Aid in a Faltering Economy

Why College?

Sun, 25 Oct 2009 00:00:00 GMT

If you are a college student, do you ever wonder some moments, why you are there? If you are a high school student, do you find yourself questioning the purpose of attending a university? These queries should not go unanswered. In fact, understanding “why” you would continue on to higher education is foundational for your success.

Remember, your success is personal. It should not be intertwined with the outpouring of outsiders’ opinions of what is best for your life. If you choose to go to college or if you are already attending a college you should know the reason why you’re there.

Two Questions To Ask Yourself:

What Does the College Experience Mean to You?

When you reflect upon the “college experience,” what do you envision? If you can grasp an understanding of what exactly you want to get out of four additional years or more of education, it will give you a stronger focus.

What Are You There to Learn?

Because of pressures from home or society dictating your attendance, it is difficult to see through to more centralized purposes for college such as “what you want to learn?” Does that mean you go just because you are told that is what you have to do? NO.

The point of going to college is to learn something, right? Why else would you pay thousands of dollars to enroll? A part of knowing why you are at college is knowing what you will be learning while you there. Figure that out before you decide to enroll. It will make your life a lot easier.

When the Desire Hits

College is difficult, more difficult than many people realize. So many have returned with heads hung low because they spent more time educating themselves in drunkenness, partly due to their disrespect of what a college education can offer them. They didn’t know why they were there. They established no goals to work toward.

Many times, students in these circumstances spend time in the workforce and later regain a desire that they did not originally have to finish school. The desire drives them to make goals and finish school with success, just a little later than they had planned.

College success will be difficult if you do not have a desire to succeed there. My advice: don’t go ’til you know.

Modern College Dorms: Privacy, Technology and Luxurious Living

Sat, 24 Oct 2009 00:00:00 GMT

College living was once notorious for its subpar offerings of stale rooms, florescent lighting, and marginal provisions. In the 1920s, college students, who were exclusively male, spent their study years in cloistered, cinderblock rooms, and since then, the profile of a college dorm has undergone an astounding transformation.

Students of today’s era may spend their dorm life living in the lap of privacy, technology, and luxury, where some of the top schools offer swimming pools, hot tubs, rock climbing, large plasma screen TVs, fitness centers, wireless internet, personal laundry services, cleaning services, quality dining, panoramic city views, expensive lighting and room decor by acclaimed interior designers, high-end furniture, and the list goes on.

Meeting Student Expectations Gone Bonkers

Despite the declining economy, schools have acquiesced the improvident demands of their student body for such costly amenities, justifying it by their hopes to “mirror what students have grown up with.” (Boston Globe) Sarah Schweitzer of the Boston Globe reported in a 2008 article called, “The New Campus Crib,” that Boston University spent $100 million this year on towers that sit adjacent to another pair of towers that cost the university $85 million in 2000. Time magazine published a photo essay by M.J. Shephy that featured Rutgers University’s $55 million Rockoff Dorm, which highlights a Coldstone Creamery, a Seven Eleven, an ultra-modern gym with state-of-the-art equipment, grocery delivery for residents, room cleaning and laundry services.

“Society has changed,” said Karen Nilsson, senior associate dean for student life with a focus on residential life at MIT. “These students who have had their own rooms, their own bathrooms all their lives. They are going off to college looking for those kinds of things.” (Boston Globe)

The problem with this coddling mentality is that facilities are placing more of an emphasis and budget focus on the facades of the schools rather than the quality of education. Many freshman students’ comfort and satisfaction balances upon the ambience of the dorms; however, the credibility of their opinion is based upon the depth of their wallets and not their knowledge or understanding of a quality education, though they may think themselves savvy. When full-time professors are losing their jobs to budget cuts and institutions are staffing part-time, less qualified professors, yet throwing away millions of dollars to revamp the school common areas, it seems as though either the students or the administrations have gone a bit non compos mentis.

Creating a College Planning Calendar for High School Seniors

Fri, 23 Oct 2009 00:00:00 GMT

Your senior year of high school should be your busiest year when it comes to college planning. Expect to find that every month, especially for the fall semester, will consist of some sort of college-planning activity.

The most important piece to your organizing is creating a deadline calendar. Skipped deadlines and incorrectly filled out paperwork can cause you to lose out on scholarships, financial aid, and even admission so be diligent in fulfilling your college-planning tasks every month.

Creating a College-Planning Road Map — Senior Year

Make a chart listing each college choice deadline per task, e.g., “Deadline for submitting midyear transcript”: College 1, DD/MM/YY, College 2, DD/MM/YY, College 3 etc.

FALL SEMESTER September

ACT/SAT – If you missed the May administration for your ACT/SAT, September is the next opportunity to register as testing begins in October.

Grades – The first semester of your senior year along with your junior year is the most significant for college admissions.

Colleges – Start reducing your list of college choices to the top 3.

College Sports – If you play sports and intend to do so in college, your coach should begin to contact the coaches at your intending colleges.

Early Decision/Early Action – At this time, recommendation forms and accompanying résumés should be given to your recommenders if you intend to apply for early action or early decision.

October

ACT/SAT Exams – The second round of ACT/SAT testing begins (registration was in September). If you were unable to take said exams in May, October is the next option.

Applications – Begin to fill out applications online. It is also recommended that you fill out the Common Application online to save time. (The Common Application is a college admissions application that students may use to apply to colleges and universities within the Common Application membership. There are approximately 400 member schools.)

College Application Essay – Continue to work on your college essay.

Financial Aid Deadlines – Start noting requirements and deadlines for each college’s financial aid filings.

November

Reminder Month! Double check deadlines and give deadline reminders to any people who you have given recommendation forms to.

December

Applications – Begin to submit applications before deadlines, and if you are a specialty student as in an athlete or performer, remember to send in demo tapes or whatever else specified.

SPRING SEMESTER

January

Transcripts – Colleges may require a midyear transcript. The beginning of spring semester is the time send them out.

Financial Aid – Whether or not you need financial aid, you can still apply to see if you are eligible for merit-based scholarships. Also, financial aid packages must be submitted by deadlines regardless of a completed tax return.

February

Interview – College admissions may require an interview. Check to find out, and then set it up. Scholarship interviews should also be on your radar at this time. For tips on interviewing, see my previous blog entitled, The Scholarship Interview, Parts I, 2, and 3

March/April

Foreign Study Deadlines – If you are studying abroad, make sure you are aware of international college deadlines (May or June) as they may differ from stateside deadlines.

Housing – If you have been selected for admission to the college of your choice and have decided to enroll, be sure to secure housing as soon as possible, whether it is finding an apartment or submitting campus housing paperwork. The sooner, the better, literally.

May

Wait-listing – Now is the time to file appeals if you have been wait-listed for financial aid, housing, etc.

Final Transcripts – Final transcripts should be sent to the colleges requesting them.

June

FASFA Form Deadline – The FASFA must be completed and sent in by June 30, 2010.

Summer

Start packing!!!

Resource: “The All-in-One College Guide” by Marty Nemko, Ph.D

Creating a College Planning Calendar for High School Juniors

Thu, 22 Oct 2009 00:00:00 GMT

Planning for college is not a “just add water” type of process. It requires meticulous organization, preparation, determination, and time. The day you enter high school freshman year, college should be in the back of your mind, if you intend to go to. And throughout your freshman year leading up to your junior, every effort you make in your classes should be made on behalf of college planning, again, if you intend to go.

College Planning Road Map – Junior Year

Junior year of high school is the prime college planning starting point. Here’s why:

Fall Semester

Grades – Your academic performance the whole of your junior year into the first semester of your senior year is the most significant for college admissions.

PSAT Testing (Equivalent to PLAN/ACT) – The Preliminary SAT or National Merit Scholarship Qualifying Test is typically taken junior year, although it can be taken earlier. This test, in addition to being a precursor to the SAT, can also determine eligibility for the National Merit Scholarship Program

Financial Aid Investment Options – For parents who wish to start investing for college tuition, the earlier the better. When your child has reached their junior year, it is best to start making low risk maneuvers and clear any capital gains that could affect your perceived income.

“When the child reaches the middle of the junior year in high school, put almost all of the money in low risk investments. It is important to realize any capital gains by December 31 of the junior year in order to not have them count as income during the financial aid need analysis. Note that if the investments are in a 529 college savings plan as opposed to a taxable brokerage account capital gains within the plan do not affect aid eligibility. (Age 15-18)” -FinancialAid.org

Spring Semester

Majors – Start brainstorming a potential major. Do some research on the job market and which industry is in demand. From that, determine careers that require your natural skill set and go from there. Remember, nothing at this point needs to be set in stone.

ACT/SAT – Registration for ACT/SAT begins in May of junior year

Start creating a list of colleges you might be interested in.

SAT II Exams – Some colleges require SAT II exams which are tests that evaluate a student’s proficiency on a certain subject. Once you have your list of potential colleges, check respective prerequisites. If the school does require an SAT II exam and if it allows you the option, choose your stronger subjects. These tests should be taken in June.

Advanced Placement Exams – AP exams might be an option to further your chances for admission.

Filing System – Due to the amount of paperwork involved in the college planning process as well as all the specific deadlines, it is strongly suggested that you create some sort of filing system to aid you in your organization.

Summer

College Application Essay – Begin to be on the look-out for interesting topics for your college application essay and develop a mental log of everyday experiences. It is best to start working on it now. See my previous blog entitled, The College Application Essay and The Art of Self-Promotion

Summer Jobs and Financial Aid – Be careful that the money you earn through a summer job does not reduce the amount of financial aid you might receive, if eligible.

ACT/SAT Preparation – There are books and resources you can use to help in your ACT/SAT preparation, but now is the time to start. It may also be helpful to take mock tests to see how you score. This will give you an idea on subject areas that need more of your focus and study.

Collect Financial Aid Materials – The summer going into your senior year is the time to collect financial aid packages from your list of colleges.

Resource: "The All-in-One College Guide by Marty Nemko, Ph.D.

College Essentials: 5 Study Tools to Master

Thu, 22 Oct 2009 00:00:00 GMT

Your degree of consistency, conviction, and orderliness can change the dynamic of your success at college. To progress from high school where lower levels of expectation are met into college, a place of high stakes and accountability, it requires a change in your state of mind and habits. Therefore, it is important to familiarize yourself with ways that enable you to grasp the processes of higher learning.

There are several elements of college-level study to which you should acquaint yourself with or improve upon. Below are five examples, coupled with “how-to” methods, to assist you in understanding how these concepts will help you in your future study life at college.

5 Study Tools

1. Concentration

Concentration is the “action or power of focusing one’s attention or mental effort.” Optimal concentration is the foundation that you must lay for all the other study elements to fall into place. With poor concentration, you will not be able to appreciate principle ideas, apply them, remember them, care about learning them, and when it comes time to test on these ideas or present them in a manner worthy of a grade, you’ll only get poor results and added stress. Concentrate.

When Studying: Eliminate distractions and create a quiet and moderately comfortable study environment.

2. Listening & Note Taking

A large percentage of college-level learning is through professor lectures. The amount of information that can be shared to a student body in a two-hour span of time through a lecture can be so concentrated with facts or enlightenment, it is improbable that anyone would be able to retain it all. However, that doesn’t negate your responsibility as the student to be especially vigilant. In situations such as lectures, note-taking is essential because you are recording the information as it comes to you so when you forget it, as the next wave of information takes its place, you’ll have a reference.

When In Class: Make sure all previous reading and/or homework assignments are completed. Review homework and previous notes before attending class. During the lecture, maintain eye contact with the professor to sustain a healthy level of concentration.

Additionally, take notes. Research has shown that higher achieving students take more notes than their classmates. Hear and record main ideas, definitions and examples. Tune your observations to the speaker’s verbal and non-verbal signals of when they are making a key point. After class, it is best to edit your notes in order to organize them into a legible and efficient reference.

3. Improving Memory

Your ability to memorize is subject to your concentration level, as I mentioned previously. Information to be memorized comes in two forms: general memorization and verbatim memorization. General memorization categorizes information in terms of understanding and retaining broad concepts and principle ideas. Verbatim memorization categorizes information in terms of specific words, definitions, formulas, sequences, etc. The brain prioritizes the information it receives by order of value or relevance. In whole, for both forms of memory, general and verbatim, it is crucial that your knowledge base of the subject’s basic values increases and that you are able to form some sort of connection with the information you are receiving.

When Studying: Short, profuse study sessions are more recommended than long, in-depth sessions. Your brain can only retain a certain amount of information. Create for each piece, mental associations that will help you make connections.

4. Highlighting

So much of the classroom process at college is through reading material in which a highlighter is most necessary. It is recommended that you highlight as opposed to underlining. Visually, highlighting is easier to read through and spot.

When Studying: Read through the material and highlight by structuring the main points followed by pertinent details for each point. Look for definitions, examples, bullet items, and important phrases. Also, introductory and concluding paragraphs often summarize central ideas that would be worth marking.

5. Time Management

Your time and how you manage it is like how an investor on Wall Street manages his investments. If he invests poorly or irresponsibly, he’ll risk a loss. When you procrastinate or abuse your time at college, you run the risk of a failure or crash.

When Studying: It is best to create a study schedule for each week, broken down into 24 hour days and then by hour. Pencil in each class, lecture, social event, work, sleep, etc., and allot a period of study in between those blocks of time. Having a tangible schedule can help visualize your week, day and hour to allow for an appropriate amount of study time.