Date: February 2010
Dear Parents and Students,
This month we open with a word about the largest increase in college applications in history and the most competitive pool of students vying for slots at all level of institutions.
What’s Going On Out There?
With more qualified students applying than seats available, it’s truly a sellers market. That doesn’t bode well for students or parents. For students it’s meant rejections that don’t make any sense. Acceptance rates have come down by as much as 5% at the more selective colleges. Average SAT scores have increased too, from 1,206 last year to 1,323 this year (excluding the essay).
What About My Child’s Award (or lack of one)?
So far this award season we have seen college costs rise between 5 and 7% from 2008-09 levels. We won’t know all of the actual costs until August. We bring this to your attention for this reason: In most cases, scholarship money offered by the college or university will have a stipulation that the student maintain a minimum grade point average to keep the award each year. GPA’s at some colleges are easier to keep or exceed than others. Most students can manage a 2.5 while others may struggle to keep a 3.2.
It is highly recommended that you or your student call admissions and ask for the number or percentage of students who actually retain the award going into their sophomore year. If the number of students who keep their awards drops significantly after the first year (more than 10%), you need to be aware that if your student loses that award, it is not going to be reinstated. The financial significance of this is obvious.
If admissions won’t tell you or “doesn’t have that information handy,” ask them what their retention rate is from year to year. Retention rates tell you how many students return year after year. If the rate is above 85%, (look for rates of 90%+), then you can safely assume that most students can afford to come back.
How Does My EFC Figure Into This Process?
College financial aid offers are based on a number of factors and you would think that the Expected Family Contribution would be the most important. While it is part of the financial aid equation, there are other factors at work. The first is how much the college wants your student to attend. Suppose a small scholarship is included in your student’s financial aid award and little else? That means that your student is not on the “A” list. Colleges actually split up applicants into groups and the A’s get the most, the B’s get some and the C’s get next to nothing. When asked for more money, Boston University’s Executive Director of Student Financial Services said, “If the university really wanted the student, we would have made it known.” That says it all.
Merit scholarships are based on how much the college values a particular student and it isn’t a financial aid decision. Appealing to admissions probably won’t yield the result you’re looking for unless you have an offer from a competing school (approximate size, cost and type and perhaps same geographic region) that is better. In lieu of competing offers, miracles can happen if you actually go to the financial aid office and simply tell them you cannot afford the college without additional help. Bringing along a copy of your family budget can help and a having a figure that you can pay will give you a set goal.
Do Colleges Really Expect Me To Pay This?
To be blunt, colleges don’t care where the money comes from as long as they get paid. If loans are part of your college funding strategy then you will need to know how much you can afford to pay back in loans whether it be a home equity or PLUS loan. As you borrow more, the payments will increase each year. Call us today for a free analysis of your current plan.
The second is the amount of money that is available for financial aid awards. Not all colleges have a lot of money to give your student no matter how competitive they are. The award may be disappointing but you need to know that it isn’t because the school is slighting your son or daughter. That being said, some colleges have so many students applying that they just don’t have to offer much money to fill seats. Getting more out of these colleges can take months of appeals without much in the way of additional aid to show for all the effort.
Granted, there are a few highly selective or elite institutions that offer only need based financial aid. If your Expected Family Contribution or EFC is higher than the projected cost of attendance or COA, no scholarship money will be offered no matter how outstanding your student is. You may receive an award letter from such a school that includes an unsubsidized Stafford/Ford Direct Loan and we have seen colleges include Parent Loan for Undergraduate Students or PLUS.
Seniors
1. Follow-up with all of your colleges to confirm all required documentation has been received. Ask if there is anything else you can do to assist them with the admissions and financial assistance decision.
2. Have your student send thank-you notes to teachers and others who wrote recommendations.
3. Forward all college correspondence to us as received. We can advise you as to how to proceed from there.
4. As a courtesy, your student should let all colleges and universities know where they have decided to attend and thank them for the offers of admission and financial aid. This common courtesy will be appreciated. If for some reason your student isn’t happy with their final choice and want to transfer at a later time, perhaps to a college that had offered a generous award, your student will want to be remembered in a positive light.
5. If your student is “wait listed” (see article below from the Princeton Review below) by a college and the intent is to enroll if accepted, have your student call, visit, or write to the admissions office to state their intentions and ask how they can strengthen their application. Recent evidence of academic or other achievements could help. If financial aid will be needed to attend the college that placed them on its “wait list,” find out if funds will be available when they are accepted.
Juniors
· Now is the time to start identifying teachers, administrators, counselors, and other adults (e.g., minister, employer) who could write letters of recommendation for you this fall.
· Go ahead and create or update a résumé of your accomplishments, activities, and work experiences.
Also, if you and your student have not started college visitations yet, now is an excellent time to work up a calendar and spend some time exploring. Though spring semester classes are soon coming to an end, there is still much they can learn by a planned visit. If you are vacationing this summer and there are a few colleges in the area, call ahead or just drop by. You may not get the nickel tour, but you will get a sense of how your student might be treated if they were to attend that school.
We want to give students like yours the resources and tools to succeed. That's why when they register for the test online, they can get free practice materials including an official SAT practice test, The Official SAT Question of the Day™ and the SAT In Focus™ tools: Skills Insight™ and My SAT Online Score Report. It's a great site where you and your child can go together. You'll both find lots of useful information to help ensure your child's SAT experience is a positive one.
THE DEADLINE IS FEBRUARY 10 for the March 13th exam. We've made the process fast and easy, so have your child sign up today. REMEMBER: When it comes to being awarded merit aid, standardized test scores are the most important element of your college application! The higher the score, the more free money you are likely to receive.
Also, the SAT II Subject Tests at the end of the school year measure mastery of a specific subject and many colleges recommend that they be included on the transcript. The most selective colleges require them.
Brad Asbury
Access College Foundation
basburycsa@yahoo.com
Tuesday, February 16, 2010
Thursday, January 14, 2010
A New Year's Wish
A NEW YEAR’S WISH
May the New Year bring you more time with your family, greater understanding towards yourself and others, a gentler heart, fulfillment, a continued sense of purpose and most of all, peace. We wish you a most Happy New Year!
TAXES
First time financial aid applicants do not have to have their parent’s tax returns completed before the FAFSA or the CSS/Profile is filed. Best guesses based on end of year pay stubs and third quarter financial statements are absolutely fine and expected. Business owners may use estimates based on 2008 filings, with any 2009 peculiarities considered. Call us for help.
THOSE DARN FINANCIAL AID FORMS
FAFSA and CSS/PROFILE financial aid forms for high school seniors: Each year, the colleges, high schools and media find it necessary to put fear into people regarding filing financial aid forms. There is added pressure on financial aid applications this year, primarily due to electronic applications and a greater number of students applying.
Getting your forms in earlier than later is better, but as long as you meet the college’s deadlines, your student is in NO DANGER of losing eligibility for aid. We do ask that parents provide us their complete information as soon as possible as well, but we don’t want you to hit the panic button just yet.
As far as the FAFSA being filed, if your information is ready, it should be filed between the 15th and the 20th of January! This is more than enough time for 99.9 % for the majority of financial aid deadlines. Every year there are changes to the FAFSA that require programming changes.
Be prepared to submit signed copies of your completed tax returns to the financial aid office before your student’s award is finalized.
Parents of students that file the CSS/PROFILE: About thirty-five of the colleges and universities who use the CSS/Profile gather tax information via the Institutional Documentation Service (IDOC) for short. This is a free service the College Board has provided. When your taxes are complete, you will send a signed copy of your federal tax form with W-2s 1099s and requested schedules to the IDOC Center. From there your taxes will be scanned and digitally sent to the participating college(s).
SENIORS:
The colleges that request secondary reports from your school will be looking to see that you have kept your grades up. They will also be requesting your final transcript, so don’t slack off now as you head into the home stretch. Typically, the more selective colleges will let you know end of March/early April if you have been offered a seat in the Class of 2014. Be patient and make sure that you have applied to at least a couple of safety schools.
Colleges and universities that have rolling admissions policies can take up to six weeks before you hear back, so be patient.
Haven’t completed your college applications? What are you waiting for? Sharpen that pencil or get on your computer and get going! If you don’t do it now you will likely miss the boat. You don’t have to decide on which college to go to but you do need to have some in mind that you think might work out for you. And make your application shine with a résumé (complete with highlights of your achievements and put notes in the margins), include a flattering picture of yourself and a very compelling essay (if required).
Don’t be too proud to apply to a college that your parents or college planning specialist suggested. The reason they thought it wise to consider it was because they felt that the college would serve your major course of study, provide successful internships and maybe offer you a better than average financial aid package.
JUNIORS:
If you have already identified a college that you want to visit this year, call and set up the visit. At this point in the selection process, don’t offer any more information than asked for. Colleges tend to do a little homework of their own when they think a student has an above average interest. A visit definitely indicates interest.
Find out if they have an instant messenger program for you to IM current students. These students may answer questions that you may not want to ask of an admissions counselor. See if the college’s student newspaper is on-line and check out what the students write about.
If your PSAT scores didn’t meet with your expectations, now is a good time to visit with your guidance counselor and discuss your options to improve them. We’ve mentioned this before and with good reason, as it gets you thinking about getting better results. Sign up for the SAT Question of the Day . You’ll have a question a day emailed to your inbox. SAT practice tests, can be ordered directly from Eureka or the College Board if your guidance counselor is out of them, and private tutoring can be of great help. Call for referrals! The better you do on the standardized tests, the better your chances of reducing college bills through merit awards (free money).
If you like, call our office to ask which SAT prep course our students have had the most success with.
SATs may not be the deciding factor in the admission decision, but they can be the critical factor for your receiving a favorable financial aid package, e.g. merit award and grants (free money).
There is another test you can take instead of the SAT, and that is the ACT. The ACT is a knowledge-based standardized test that is popular in the Midwest . It measures what you know. Some students do better on the ACT than the SAT, and just about all colleges accept the ACT— so ask your counselor about taking this test.. Locate Where and When the Next ACT is Scheduled.
To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web site (www.collegeboard.com) or call (866) 756-7346.
To get more information on the ACT, access useful tools, or register, visit the ACT Web site (www.act.org) or call (319) 337-1270.
Have a Happy & Safe New Year!
Brad Asbury
Access College Foundation
May the New Year bring you more time with your family, greater understanding towards yourself and others, a gentler heart, fulfillment, a continued sense of purpose and most of all, peace. We wish you a most Happy New Year!
TAXES
First time financial aid applicants do not have to have their parent’s tax returns completed before the FAFSA or the CSS/Profile is filed. Best guesses based on end of year pay stubs and third quarter financial statements are absolutely fine and expected. Business owners may use estimates based on 2008 filings, with any 2009 peculiarities considered. Call us for help.
THOSE DARN FINANCIAL AID FORMS
FAFSA and CSS/PROFILE financial aid forms for high school seniors: Each year, the colleges, high schools and media find it necessary to put fear into people regarding filing financial aid forms. There is added pressure on financial aid applications this year, primarily due to electronic applications and a greater number of students applying.
Getting your forms in earlier than later is better, but as long as you meet the college’s deadlines, your student is in NO DANGER of losing eligibility for aid. We do ask that parents provide us their complete information as soon as possible as well, but we don’t want you to hit the panic button just yet.
As far as the FAFSA being filed, if your information is ready, it should be filed between the 15th and the 20th of January! This is more than enough time for 99.9 % for the majority of financial aid deadlines. Every year there are changes to the FAFSA that require programming changes.
Be prepared to submit signed copies of your completed tax returns to the financial aid office before your student’s award is finalized.
Parents of students that file the CSS/PROFILE: About thirty-five of the colleges and universities who use the CSS/Profile gather tax information via the Institutional Documentation Service (IDOC) for short. This is a free service the College Board has provided. When your taxes are complete, you will send a signed copy of your federal tax form with W-2s 1099s and requested schedules to the IDOC Center. From there your taxes will be scanned and digitally sent to the participating college(s).
SENIORS:
The colleges that request secondary reports from your school will be looking to see that you have kept your grades up. They will also be requesting your final transcript, so don’t slack off now as you head into the home stretch. Typically, the more selective colleges will let you know end of March/early April if you have been offered a seat in the Class of 2014. Be patient and make sure that you have applied to at least a couple of safety schools.
Colleges and universities that have rolling admissions policies can take up to six weeks before you hear back, so be patient.
Haven’t completed your college applications? What are you waiting for? Sharpen that pencil or get on your computer and get going! If you don’t do it now you will likely miss the boat. You don’t have to decide on which college to go to but you do need to have some in mind that you think might work out for you. And make your application shine with a résumé (complete with highlights of your achievements and put notes in the margins), include a flattering picture of yourself and a very compelling essay (if required).
Don’t be too proud to apply to a college that your parents or college planning specialist suggested. The reason they thought it wise to consider it was because they felt that the college would serve your major course of study, provide successful internships and maybe offer you a better than average financial aid package.
JUNIORS:
If you have already identified a college that you want to visit this year, call and set up the visit. At this point in the selection process, don’t offer any more information than asked for. Colleges tend to do a little homework of their own when they think a student has an above average interest. A visit definitely indicates interest.
Find out if they have an instant messenger program for you to IM current students. These students may answer questions that you may not want to ask of an admissions counselor. See if the college’s student newspaper is on-line and check out what the students write about.
If your PSAT scores didn’t meet with your expectations, now is a good time to visit with your guidance counselor and discuss your options to improve them. We’ve mentioned this before and with good reason, as it gets you thinking about getting better results. Sign up for the SAT Question of the Day . You’ll have a question a day emailed to your inbox. SAT practice tests, can be ordered directly from Eureka or the College Board if your guidance counselor is out of them, and private tutoring can be of great help. Call for referrals! The better you do on the standardized tests, the better your chances of reducing college bills through merit awards (free money).
If you like, call our office to ask which SAT prep course our students have had the most success with.
SATs may not be the deciding factor in the admission decision, but they can be the critical factor for your receiving a favorable financial aid package, e.g. merit award and grants (free money).
There is another test you can take instead of the SAT, and that is the ACT. The ACT is a knowledge-based standardized test that is popular in the Midwest . It measures what you know. Some students do better on the ACT than the SAT, and just about all colleges accept the ACT— so ask your counselor about taking this test.. Locate Where and When the Next ACT is Scheduled.
To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web site (www.collegeboard.com) or call (866) 756-7346.
To get more information on the ACT, access useful tools, or register, visit the ACT Web site (www.act.org) or call (319) 337-1270.
Have a Happy & Safe New Year!
Brad Asbury
Access College Foundation
Wednesday, November 4, 2009
Early Decision (ED) vs. Early Action (EA)
Early Decision (ED) vs. Early Action (EA)
For you student, without a doubt, the most stressful time in the college application process is November. Finishing college choice lists, completing applications, rounding up letters of recommendations, final editing of essays, preparing for year-end exams, and here come the holidays! It’s a lot for everyone in the household to deal with.
For students who applied Early Decision or Early Action, it is also a very stressful time. The ED/EA applicant doesn’t know what the outcome will be and teenagers being, well, teenagers, may have postponed creating their fall back positions. Call us for assistance!
FAFSA Preparation
High school Seniors and one of their parents should file for a FAFSA PIN. www.fafsa.ed.gov
For FAFSA preparation, if you are self employed or own a business, separated or divorced, or have special needs, undoubtedly there will be additional forms to fill out. We are here to help you through this challenging phase of the process.
Seniors
It is up to you to make certain that the guidance counselor or guidance office has all of the application materials to your college choices by their deadlines. They have many students to process and usually will want to receive all of the application materials requests well ahead of the college deadlines.
It is equally important to follow up with the administrator of the guidance counseling department as to what exactly has been accomplished with regards to college application materials. It is suggested that you or your parent contact the admissions office of each college you have applied to and make sure they have everything they require. Don’t expect them to track you down for a missing piece of the application. Make sure your social security numbers match their birth dates as well when you call. A name is not always enough for full verification.
This is also a good time to find out about the College-Level Examination Program (CLEP) at the schools your son or daughter is applying to. Every year, more and more students save countless hours and significant dollars through CLEP. These comprehensive examinations are used to award full college credit for demonstrating college-level achievement in a variety of areas and subjects. This program could help ensure that your student finishes in four years vs. five or six!
Juniors
The PSAT/NMSQT test scores from October’s test will be reported this month. If you have concerns, make an appointment with your high school guidance counselor to discuss the results.
Use these scores to learn about your student’s strengths and weaknesses. Then have them work to improve their performance before the real SAT is given. SAT prep courses are a good option, especially individual tutoring. We also recommend subscribing to the College Board’s website and taking the SAT Question of the Day this free service helps a great deal. Downloading free practice tests or purchasing additional ones from the College Board definitely helps when they are used.
Brad Asbury
Access College Foundation
basburycsa@yahoo.com
For you student, without a doubt, the most stressful time in the college application process is November. Finishing college choice lists, completing applications, rounding up letters of recommendations, final editing of essays, preparing for year-end exams, and here come the holidays! It’s a lot for everyone in the household to deal with.
For students who applied Early Decision or Early Action, it is also a very stressful time. The ED/EA applicant doesn’t know what the outcome will be and teenagers being, well, teenagers, may have postponed creating their fall back positions. Call us for assistance!
FAFSA Preparation
High school Seniors and one of their parents should file for a FAFSA PIN. www.fafsa.ed.gov
For FAFSA preparation, if you are self employed or own a business, separated or divorced, or have special needs, undoubtedly there will be additional forms to fill out. We are here to help you through this challenging phase of the process.
Seniors
It is up to you to make certain that the guidance counselor or guidance office has all of the application materials to your college choices by their deadlines. They have many students to process and usually will want to receive all of the application materials requests well ahead of the college deadlines.
It is equally important to follow up with the administrator of the guidance counseling department as to what exactly has been accomplished with regards to college application materials. It is suggested that you or your parent contact the admissions office of each college you have applied to and make sure they have everything they require. Don’t expect them to track you down for a missing piece of the application. Make sure your social security numbers match their birth dates as well when you call. A name is not always enough for full verification.
This is also a good time to find out about the College-Level Examination Program (CLEP) at the schools your son or daughter is applying to. Every year, more and more students save countless hours and significant dollars through CLEP. These comprehensive examinations are used to award full college credit for demonstrating college-level achievement in a variety of areas and subjects. This program could help ensure that your student finishes in four years vs. five or six!
Juniors
The PSAT/NMSQT test scores from October’s test will be reported this month. If you have concerns, make an appointment with your high school guidance counselor to discuss the results.
Use these scores to learn about your student’s strengths and weaknesses. Then have them work to improve their performance before the real SAT is given. SAT prep courses are a good option, especially individual tutoring. We also recommend subscribing to the College Board’s website and taking the SAT Question of the Day this free service helps a great deal. Downloading free practice tests or purchasing additional ones from the College Board definitely helps when they are used.
Brad Asbury
Access College Foundation
basburycsa@yahoo.com
Thursday, October 29, 2009
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.''
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.''
Thursday, October 22, 2009
"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.
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.
Wednesday, October 14, 2009
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
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
Wednesday, October 7, 2009
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
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
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