1

2

• The common theme that all parents share is to send their son or daughter to the best college that they can afford, in order to give their child an advantage in life without jeopardizing their own retirement.

• Our goal today is to educate you on the rules of the game and how to win.

“We believe, that is, you and I, that education is

not an expense. We believe it is an

investment."- Lyndon B. Johnson

3

• College Statistics• Preparing for College

– SAT/ACT– College Search Process

• Expected Family Contribution ( EFC)

• Understanding Financial Aid Forms• College Costs• Financial Aid• Awards, Appeals and Negotiating• How the Economy has Effected

College Planning• How to Maximize Your Financial

Aid Award• Q & A

4

Source U.S. Census Bureau

5

Nationwide there are 4,216

accredited colleges.

Four year colleges:2,533• Public 639• Private 1,894

Two year colleges: 1,683• Public

1,061 • Private 622

Source: National Center for Education Statistics

6

Only 1 out of 2 who start college actually earns a degree

Performance in High School Matters• Students who get A’sA’s in high School graduate college at an 80% rate

• Students who get B’sB’s in high School graduate college at about a 50% rate

• Students who get C’sC’s in high schools graduate college at about a 35% rate

• Students who get D’sD’s in high School graduate college at about a 10% rate

7

Four years 36.1%

• Public29.0%

• Private 50.3%

• For Profit 25.7%

Five years 52.6%

• Public49.1%

• Private60.8%

• For Profit 30.0%

Six years 57.5%

• Public54.8%

• Private64.5%

• For Profit 32.6%

Source: National Center for Education Statistics

8

Discussed college with Discussed college with parents and understands parents and understands cost limitations cost limitations

Is prepared to apply to 6-Is prepared to apply to 6-10 10 competing competing schools schools grouped in like categoriesgrouped in like categories Reach SchoolsReach Schools Match SchoolsMatch Schools Safety SchoolsSafety Schools

Built a resume of Built a resume of achievementsachievements

Has outlined essaysHas outlined essays Is prepared to apply Is prepared to apply

9

Strong thoughts about a Strong thoughts about a careercareer

Taken the right coursesTaken the right courses AP courses are rated higher AP courses are rated higher

by collegesby colleges

Good gradesGood grades Community serviceCommunity service Participated in Participated in

extracurricular activitiesextracurricular activities Became a leaderBecame a leader Has a part-time job and Has a part-time job and

saved some money for saved some money for collegecollege

Has good ACT/SAT scores Has good ACT/SAT scores on standardized testson standardized tests

Is your student ready?

ACT• Test is 4 hours long

• English: 45 minutes• Math: 60 minutes• Reading: 35 minutes• Science: 35 minutes

• Optional Writing section • Scored on a range of 1 –

36• Highest Possible score is

36• For additional information

go to www.act.org

10

SAT• Test is 3 hours and 45

minutes• 3 sections

• Mathematics • Critical reading• Writing

• Each section scored on a scale of 200 – 800

• Highest possible score is 2400

• For additional information go to the College Board www.collegeboard.com

11

• Public or Private• Campus Location

– Suburban– Urban– Rural

• Entrance criteria• Type of school

– Large university, liberal arts, single- gender, military, etc.

• Majors offered• Enrollment• Cost

12

13

14

15

16

MYTHS

17

18

The Federal Formula (FAFSA)Used as the exclusive needs analysis

at:

• 89% of all 2533 colleges• 99.7% of Public College ( 637 of 639)• 86% of Private Colleges (1628 of 1894)

The Institutional Formula (CSS Profile)

• 11% of colleges (268 of 2533) require it• Local examples….Boston College, Boston

University, Brandeis University, Bentley, College of the Holy Cross, Brown University

• Highly Selective19

EFC as determined by FAFSA Parent contribution from income 22%-

47% Parent contribution from assets 2.6%-

5.6% Student contribution from income 50% Student contribution from assets 20%

Other variables # of household members # of family members currently attending

college

20

21

According to collegeboard.com, the cost per year for a 2010 freshmen at Bentley University is $49,753 per year

or $199,012 for four years.

22

According Edmunds.com, the base price for a 2010 Bentley Continental GT is

$182,800.

National Average Annual College

Costs Public University

$18,326Private University

$37,390Many Private Universities

$45,000+Annual Cost Increase 6%

per yearMassachusetts has highest costs

in the country!(source College Board)

23

24

Direct costs: Tuition and

fees Room and

board

Indirect costs: Books Living

expenses

Transportation

25

Source: College Board : “Trends in Higher Education”

27

28

• The FAFSA form is used to collect the family’s financial information (www.fafsa.ed.gov)

• The U.S. Government’s Dept. of Education determines a family’s EFC

• Used by all accredited Public & Private Colleges and Universities

• It is required in order to qualify for Federal and State financial aid, grants and loans

• Available in English or Spanish• Should be filed as soon as

possible after January 1st

• Use estimate income tax if necessary

29

30

Clarifying the facts for students of divorced or separated parents:

• Question: Who’s information goes on the FAFSA and CSS Profile?

• Answer:

– FAFSA: Whichever parent the student lived with more of the time ). If that parent is re-married, then stepparent information must also be included

– CSS Profile and Noncustodial Profile:

• The Custodial parent (include stepparent information if re-married) must complete the Profile

• The Noncustodial Profile must be completed by the noncustodial parent (include stepparent information if re-married), if form is required by the school

*The base year is the tax year before you enter college 31

32

• CSS Profile is used to collect the financial data (www.collegeboard.com)

• Used by 268 colleges to distribute institutional funds

• In addition to the FAFSA• More assets are assessable• Primary residence home equity

is considered• Second home is considered (also

included on FAFSA)• Younger siblings assets• Small business value• These assessment often result in

an EFC which is “much higher” than the FASFAA calculation

• Asks for additional information

33

• Percentage Of Need Met• Some schools meet

100% of need• Others only meet 30-

50% of need• Percentage Of Gift Aid

• Some schools meet most need in FREE money, while others give mostly loans

• You should know what each school offers BEFORE APPLYING

34

• A common mistake most parents make is allowing the “sticker price” to influence their decision by simply avoiding those schools that carry a high price tag.

• Don’t let this happen to you!

• The following slide is an example that illustrates the actual cost of attending a private “more expensive school” vs. attending a public “less expensive

35

36

Amherst College:Total EFC =$10,000

Total Gift = $35,554Total Self = $6,274Out of pocket = $16,274

UMASS - Boston:EFC = $10,000+ Unmet Need = $4,034Total EFC = $14,034 Total Gift = $2,723Total Self = $3,328Out of pocket = $17,362

UMASS - Boston:Cost - $20,085EFC - $10,000Need - $ 10,085

UMASS – Boston:Meets 60% need Gift aid - 45%Self help - 55%

The “inexpensive” state school actually costs $1,088 more to attend .

Appealing•The first award may or may not be the best offer•Follow each school’s appeal procedure•Base appeal on situations related to “mis-awards” or “special circumstances”

Special Circumstances•Loss of employment or dramatic reduction in parent’s or student’s income/assets•Reduction in child support or social security benefits•Financial responsibility for elderly parents•Unusual medical/dental expenses not covered by insurance 37

38

39

40

41

42

43

• It is a financially sound strategy to make use of rules that allow you to get more money!

• It's no different than using legal tax "loopholes" to save money!

• You may get thousands more just by knowing the rules that they don't want you to discover!

Knowing more, gets you more!! 44

$

$

$$

$

$

$

$

$

$

$

45

46

Asking colleges to help you with financial aid is like asking the IRS to help you with tax planning strategies!

• High School Guidance Department

• College Financial Aid Office

• Your accountant

• Do it yourself

• College Consultant

Guidance Guidance Counselors & Counselors & Financial Aid Financial Aid Officers Officers are there are there to help to help however…however…

• Guidance Counselor to Student ratio 1 to 600

• College Financial Aid Officer to Student ratio 1

to 4,342

Independent Research 04 08

47

• Planet Tuition• www.fastweb.com• www.collegeboard.com• www.brokescholar.com• www.collegeanswer.com• www.studentscholarshipsearch

.com/ebook

48

There is much false, misleading and plain incorrect information about college funding out there!

There are literally billions of dollars available through various government and private grant, scholarship, loan, and work study programs!

The FAFSA forms almost contain errors when families complete them on their own, creating costly delays and/or loss of money you would have been eligible for if the forms were filled out correctly!

All public schools use only the FAFSA. Private schools can require additional (and confusing) forms that require additional financial information!

Financial Aid is given out on a first come first served basis. Once their allotment of aid is gone, it is gone! Forms should be filed as soon as possible after January 1st of the senior year.

Some schools historically provide more aid than others! Just like buying a car…you usually have to haggle

effectively to get the best deal! (“Sticker price” means nothing!)

49

50

• Analysis of family’s financial profile• Determine EFC for FAFSA and CSS Profile

forms• Identify exposures in financial profile

affecting FAFSA and CSS Profile• Asset reallocation recommendations• Assist in college list process based on

historical Financial Aid awarding policies• Determine Cost of Attendance (COA)

based on school selection and your EFC• Estimate current year’s taxes prior to

completing FAFSA and CSS Profile forms• Provide answer keys for both the FAFSA

and CSS Profile forms• Compare and evaluate Financial Aid

Award Letters• Prepare Appeal/Negation Letters if

necessary• Cash flow analysis and planning• Student and parent Loan

recommendations• Payment Plan recommendations• Loan repayment strategies

• Assistance with college major selection • Assistance with identifying family

expectations• Online SAT/ACT preparation• Create a month by month college plan• Assistance with narrowing geographic

region• Assistance with creating school list• College visitation plan• Management of the college application

process • Identifying early decision/early action

options• College Interview Questions and

strategies provided• Essay theme development• Essay edits• Managing the college correspondence • Understanding and managing the waitlist

process• College selection process• Managing the college deposit process• Analysis of student record: transcript,

class rank, strength of schedule • PSAT / SAT/ACT Analysis• Standardized testing recommendations

51

Connecting College Coaches & Directors to

College-Bound Student-Athletes & Performing Art Students

• Website profile/resume on All-American’s national college coach/directors search

• Unlimited self-editing/updating of your website profile: (The capability of uploading your high school transcript, additional letters of recommendation and media clippings)

• Preference College Promotions • Up to a 10 Minute Website

Profile Video:

Evaluation Form

PLEASE Fill Out!

Do You Want To Schedule An Appointment?

Check “ YES” Box

Do Not Want An Appointment

Leave Blank

GOOD LUCK! Take Action!

Your Childs future starts now!

53

54

55

56

Regional OfficesCalifornia: Palm SpringsFlorida: TampaMassachusetts: Franklin, Pittsfield, WorcesterOhio: Cleveland Pennsylvania: Lancaster