Prepaid College Tuition

Enrollment starts Monday in the state's prepaid tuition program, which helps parents lock in today's college tuition rates for their children.
BY LAURA FIGUEROA LFIGUEROA@MIAMIHERALD.COM

Invest today, save hundreds of dollars in tuition costs tomorrow -- that's the hope for many parents interested in enrolling their children in the state's prepaid tuition program, which kicks off enrollment Monday.
Starting Monday through Jan. 31, parents who enroll in the state-sponsored Florida Prepaid Plan will lock in the 2009-2010 tuition rate for Florida's state universities and community colleges -- no matter how far away their child's matriculation may be.

A parent who signs up Feb. 1 or after will be locking in the 2010-2011 rate.
The price of tuition typically goes up about 6 percent a year. This year, the state's public universities were given permission to increase their tuition by up to 15 percent in order to make up the difference in state and federal funding cuts.
Florida International University and the University of Florida have already done so.
``The cost of higher education is rising faster than inflation,'' said Susan James, spokeswoman for the Florida Prepaid College Plan Board.
``Now is naturally the best time to lock in a secure tuition rate without worrying if tuition rises again.''

Since 1988, the program has sold more than 1.4 million prepaid tuition plans in Florida, which parents, guardians, or relatives can choose to pay in a lump sum or through monthly installments.
Roughly one in 10 children living in Florida are covered by the plan, which parents can buy as soon as their child is born or by the time their child reaches their junior year of high school.

If the young scholar opts to attend a private or out-of-state school, the money is returned to the parent or can be transferred to the school of choice.
Also, a child who wins a scholarship can use money out of the Prepaid Plan to pay for other school expenses, like textbooks or dorm fees.
``The prepaid plan is guaranteed by the state, when you purchase a Florida prepaid plan, it's always going to be there for the student,'' James said.
``A scholarship, like the Bright Futures scholarship, will not invalidate your existing plan, it serves as a complement.''

Even as prices continue to increase statewide, Florida's average tuition rate is still nearly half of what students pay nationwide for attending a four-year public university.
Tuitions at Florida's public schools range from $3,700 to $3,900, while the national average is $6,585, according to the College Board.
To accommodate the varying financial and educational needs, the prepaid plan offers four plans:
• Paying for two years at a community college.
• Paying for four years at an undergraduate institution.
• Paying for a combination of two years at a community college and two years at a public university.
• Opening a separate tax-free investment fund to store money for future college expenses like housing and books.
The latter option is available because even if parents are able to lock in tuition rates through a prepaid plan, tuition is only a fraction of the cost of getting an education.

There's still other expenses that can not be locked in at a certain price including dorm rooms, lab fees, textbooks and food.
``Tuition is only 16 percent of the total higher education expenses,'' James said. ``It's never too early to start planning ahead.''

"American Opportunity Tax Credit"

Six Facts About the American Opportunity Tax Credit

Many parents and college students will be able to offset the cost of
college over the next two years under the new American Opportunity Tax
Credit. This tax credit is part of the American Recovery and
Reinvestment Act of 2009.

Here are six important facts the IRS wants you to know about the new
American Opportunity Tax Credit:

1. This credit, which expands and renames the existing Hope Credit,
can be claimed for qualified tuition and related expenses that you pay
for higher education in 2009 and 2010. Qualified tuition and related
expenses include tuition, related fees, books and other required
course Materials.

2. The credit is equal to 100 percent of the first $2,000 spent and
25 percent of the next $2,000 per student each year. Therefore, the
full $2,500 credit may be available to a taxpayer who pays $4,000 or
more in qualifying expenses for an eligible student.

3. The full credit is generally available to eligible taxpayers who
make less than $80,000 or $160,000 for married couples filing a joint
return. The credit is gradually reduced, however, for taxpayers with
incomes above these levels.

4. Forty percent of the credit is refundable, so even those who owe
no tax can get up to $1,000 of the credit for each eligible student as
cash back.

5. The credit can be claimed for qualified expenses paid for any of
the first four years of post-secondary education.

6. You cannot claim the tuition and fees tax deduction in the same
year that you claim the American Opportunity Tax Credit or the
Lifetime Learning Credit. You must choose to either take the credit or
the deduction, which ever is more beneficial for you.

Complete details on the American Opportunity Tax Credit and other key
tax provisions of the Recovery Act are available at the official IRS
Web site at IRS.gov/Recovery.

Don't Just Walk Around, Do a College Tour Right

Don't Just Walk Around, Do a College Tour Right

College tours are great way to find out if a college is best suited for you and almost every college bound student and their family have gone on a tour or plan on taking tours. A college will roll out the ‘red carpet' for your tour to welcome you to campus. You will probably watch a video about the college and go on a walking tour of the campus.

Don't let the tour end there, however.

There are some simple tips and planning techniques to make your tour and visit to the campus a success and allow you to come away with more than just a college brochure.

Schedule your visit when classes are in session. This is a great way to see how students, faculty, and staff interact on the campus and give you an eye-opening view of campus.

Schedule a tour of campus and schedule specific appointments with the following:

* Admissions Office
* Financial Aid Office
* Current student in your desired field
* Professor in your desired field

Set these appointments a couple of weeks before your visit to better manage your time during the visit. Either call or write a letter to each department to ask for the appointment. Be sure to taken notes at each appointment for future reference.

The Admissions office will answer any questions you have and it is a great way for you to really market your skills, talents, and accomplishments in person. Prepare questions ahead of time so you feel comfortable.

The Financial Aid Office can answer questions you have about financial aid paperwork, costs, and anything else pertaining to college costs and financial aid packages.

We really recommend you meet with a current student to talk about their experience coming to the campus and discuss how and why they decided on that college. Speaking to someone close to your age will give you a completely different perspective than any other segment of your visit.

If you have a particular interest in a major or course of study, by all means contact a professor in that department and set up informational interview. Learn more about access to the department's professors once you are in school and find out about internships or projects that can enhance your learning.

After your tour and interviews, send a thank you card to all of the professionals who took time to meet with you.

When you have completed your tours compare notes, ask more questions if need be, and prepare to begin the application process.

Good luck!

Brad Asbury
The Access College Foundation

Senior-Year Grades and College Admission

Senior-Year Grades and College Admission



Many students mistakenly believe that prepping for college ends after the eleventh grade. However, the senior year, the entire senior year, is actually of particular interest to colleges.



Many colleges also include as part of the application a form called the mid-year grade report. Your counselor completes this form with first-half grades and sends it to the colleges to which you’ve applied. It then becomes a crucial part of the application folder.



If You Are Accepted, Many college acceptance letters include warnings to students such as “Your admission is contingent on your continued successful performance.” This means colleges reserve the right to deny you admission should your senior year grades drop, so just because you got accepted doesn’t mean that you can skate through the rest of the year!



Mary Lee Hoganson, College Counselor for Homewood-Flossmor Community High School , Flossmor , Ill. : “It is not at all rare for a college to withdraw an offer of admission when grades drop significantly over the course of the senior year.



How to Make the Most of Your Senior Year



Senior year is your opportunity to strengthen your skills and broaden your experiences, in school and out, to prepare for all of the challenges ahead. A successful senior year can help launch you on the path to a successful future.



Maintain a Challenging Course Load, You should take the most rigorous courses available, and be sure to continue taking college-track subjects. Consider AP® courses, which can also earn you credit at many colleges.



Stay Active and Involved, Your continued involvement in activities, sports, volunteer work, etc. will help you stay active and focused throughout your final year. A great internship or career-focused job opportunity can help motivate you to start considering your career options. Meaningful and significant experiences will help prepare you to make informed decisions about your education and career goals.



Try Out College Early, If you’re interested in pursuing a subject further, and have excelled at your high school classes so far, consider taking a class at a local college. This challenge can help you avoid sliding into an academic slump, and stimulate your interest in the possibilities of college.



Another option in many areas is “middle college” or “early college” high schools. These schools, normally located on community and four-year college campuses, allow students to spend their last two years taking classes in both college and high school. Early exposure to college classes introduces you to the rigor of college work while easing your transition from high school.



Sources:

National Commission on the High School Senior Year, The Lost Opportunity of Senior Year: Finding a Better Way - Summary of Findings, 2001.

Barth, P., Haycock, K., Huang, S. and Richardson, A., Youth at the Crossroads: Facing High School and Beyond. Washington, DC: The Education Trust, 2000.

For Juniors:



1. This is the time for your junior to develop lists of their interests, educational priorities, talents and abilities, social and cultural preferences, and personal qualities.

2. The PSAT/NMSQT is a test that will give you and your student an idea of what areas need improvement and hopefully prompt a discussion of what you may wish to do to improve their score. Keep in mind that the SAT or ACT represents only a portion of what will be evaluated for admissions. Grades, class rank, the rigorousness of their curriculum, as well as extracurricular activities are just as important. Where test scores really count is in the awarding of merit money. Most private colleges, with the exception of the elites, offer scholarships or discounts for students with high test scores! Expect the results in early December.

3. Your student should develop a list of what they think they’d like to study and do in college. Items should be ranked in order of importance.

4. Lastly, go to at least one college fair and talk to college representatives.

Brad Asbury
Access College Foundation