Wrapping Up 2005

With the year 2005 drawing to a close soon, many people are beginning to assess the past year and make plans for the coming one. We suggest that you also do this in regard to your finances, no matter which point of the college process you are facing. Take a look at how much you have actually spent and how much you have budgeted, and make a new budget for the upcoming year.

It is very important that you have a plan for your spending in the coming year. Budgeting and paying for college is a daunting task, and planning your budget now for next year will make it easier to know how much you can afford to pay out of your own pocket.

Before you spend extravagant amounts of money on Christmas (or Hanukkah) gifts for family members and friends, go over your financial status. The last thing you need right now is added credit card debt or loans. This is especially important for college students! Students should realize that the money they spend on Christmas gifts may come out of their loan money, but they will also be paying back each dollar with interest for the next ten or more years.

We at College Assistance Plus wish you a very happy holiday season, and we'll see you in February!

This email contains suggestions and guidelines from College Assistance Plus about what specific things you need to do this month to get your student financially ready for college. Scroll down to find the age bracket that your student falls under to read what you should be doing this month.

Winner of our iPod contest!

The winner of our iPod Nano contest is Alana Mango, a sophomore at Honeoye-Falls Lima High School. Alana will receive a brand new 2GB iPod Nano. Congratulations, Alana!

Keep on the lookout for other contests and giveaways that we will be doing in the future.

CAPlus news

College Assistance Plus is franchising! Visit our franchise website to read more about this exciting adventure. We are currently looking for new franchisees in New York and several other states. If you or someone you know is interested in this new opportunity, email franchise@collegeassistanceplus.com

Pick up a copy of NextStep Magazine this month to read a featured article by our Communications Director, Bethany Warsaw, about the advantages and disadvantages of early admission! You can also visit NextStep online.

High school sophomores

Report cards have most likely been issued recently, or they will be issued soon. Parents should take time to review the student's report card and see how he or she is doing, particularly in subjects that may count for college credit. If the student is not doing well, make sure that he or she continues to do homework and study for tests.

If you know any high school seniors or parents of high school seniors, you might notice that they seem stressed. College selection is a stressful process for both students and parents, and it can even drive a wedge in between family members. The sooner you begin the process for yourself, the easier it will be down the road. Look at colleges! Think about where the student might want to be and what he or she wants to do! Save money! While you do all these things, however, remember not to panic. You have a lot of time, but it is good to get the ball rolling to take some of the pressure off yourself later.

Students need to continue studying for the SAT and ACT tests for at least one hour a week. It is important to treat this test as homework to ensure that the student receives the highest score possible. Colleges often knock down tuition prices by thousands of dollars depending on SAT/ACT scores. The software that College Assistance Plus provides is very helpful in preparing for these tests.

Students should consider asking for recommendation letters now. If you have been involved in community work or volunteer projects with a teacher or an adults, ask them now to write you a recommendation letter. Getting a head start is a great idea, and it is important for you to get recommendations from people with whom you have worked closely and can recommend you highly.

Students should also keep up their grades! A strong GPA will often be rewarded with college grants, free scholarships, and other educational grants.

Taking AP classes may help with the student's college applications later. Talk to the guidance counselor when it is time to select classes for next semester so that the student can take courses that will help him or her build a strong transcript. Colleges want to see strong, challenging work, and they would often rather see a student taking an AP course and receiving a B than a student taking an easy class and earning an A. Students should work hard in AP classes, because good grades in these classes will give them a boost when applying to college.

Students should participate in career profiles and college searches to begin getting an idea of what is available for them.

Students need to continue working to make themselves attractive to colleges. Doing volunteer and community service work is a great way to increase your chances of receiving college grants and scholarships.

High school juniors

You may notice that high school seniors and their parents seem a bit stressed around this time of year. They are busy applying to colleges and getting things in order for financial aid and negotiation, none of which are a job for the faint-hearted! College selection is a stressful process for both students and parents, and it can even drive a wedge between family members. As a junior, you have probably been taking steps already by looking at colleges and thinking about where you would like to go. The sooner you are taking these steps, the better. You have a lot of time left, but keep yourself moving so that you don't end up panicking during your senior year.

The student will receive results of the PSAT sometime in the next two months. Read your score report and talk with your school guidance counselor to determine how you could improve on future standardized tests. Continue studying for the SAT/ACT tests. Focusing on doing well in these tests and in school will help enhance your chances of receiving a good financial package. Depending on the SAT or ACT scores, colleges often knock thousands of dollars off the price of tuition for certain students. The study software that College Assistance Plus provides is very helpful in preparing for the tests.

If you plan to take the ACT, register now for the February 11 exam. Registration is due by January 6, and late registration (which requires a late fee) is accepted until January 20th. New York students should note that this exam is not being offered in New York in February. The next SAT test is January 28; regular registration is due by December 22 and late registration is due January 4. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites.

Report cards have most likely been issued recently, or they will be issued soon. Parents should take time to review the student's report card and see how he or she is doing, particularly in subjects that may count for college credit. If the student is not doing well, make sure that he or she continues to do homework and study for tests.

Students should consider asking for recommendation letters now. If you have been involved in community work or volunteer projects with a teacher or an adults, ask them now to write you a recommendation letter. Getting a head start is a great idea, and it is important for you to get recommendations from people with whom you have worked closely and can recommend you highly.

Students should continue to refine their lists of potential colleges. Parents can help with this process; also, stay in contact with your College Assistance Plus representative, who can search the database for information on any school you may be interested in. Contact the admissions and financial aid offices at any colleges in which you are interested so that you can get information now on admission, scholarships, and financial aid.

Taking AP classes may help with the student's college applications later. Talk to the guidance counselor before the semester ends so that the student can take courses that will help him or her build a strong transcript. Colleges want to see strong, challenging work, and they would often rather see a student taking an AP course and receiving a B than a student taking an easy class and earning an A. Colleges also use a 5-point scale to weigh AP classes instead of the usual 4 points for regular high school classes. Students should work hard in AP classes, because good grades in these classes will give them a boost when applying to college.

Athletes who play spring sports (such as track and field, baseball, softball, etc.) should plan to take photographs and video of themselves make sure that you are marketing yourself to schools now. Don't wait for the sport season to be over, because many colleges have already made decisions by that time. Now is the time to be emphasizing what you have done in that sport in the past.

Students should make an effort to learn their social security numbers; it is required on many college applications and is a good thing to have in your memory bank. If you were never issued a Social Security card, go to Social Security Online for information on finding a local Social Security office and obtaining a card.

Keep looking for any scholarship programs that might help. You may need to have specific classes for certain scholarships; looking for grants and scholarships now may make choosing classes for the next semester a little easier and more helpful in the long run.

Juniors should keep focused on their schoolwork during the end of the fall semester. Junior-year grades are especially important because they show to the college what kind of work the student can do in advanced, upper-level courses. Grades are also used to determine scholarship and grant eligibility.

High school seniors

While students may be feeling pressured by colleges and guidance counselors to make a commitment, relax! There is time until you need to apply; usually the colleges accept students on a rolling basis. (Many very selective colleges do have admission deadlines on January 1 or February first, however, so be sure that you know the deadline of the schools you are interested in.) Stop worrying! Keep working with your College Assistance Plus representative to help you figure out which school will be the best for YOU.

By now dates for recommendation letters should be approaching. Recommendations are very important when applying to colleges, so be sure to ask for recommendation letters if you know they have not yet been sent to the school. This is an important step in the application process! If the person who is writing the letter does not turn in the recommendation on time, you do have the right to ask them about it. It is also appropriate to tell the person writing the letter what you have already told the college and what you hope to see in his or her letter. Often this gives the writer a strong foundation on which to write.

Students should be sure they know when the admission deadlines are for the colleges they are interested in! It is essential to be prompt and to meet all deadlines. When you apply, check with the guidance counselor to make sure your transcript/test scores have been or will be sent to the colleges to which you are applying.

Parents and students should be collecting the following financial records to complete financial aid forms: W-2 forms, bank statements and records of benefits from the Social Security Administration, Department of Veteran's Affairs, and other agencies. Keep these for your College Assistance Plus representative, who will be available to answer any questions while you are filling out your FAFSA or any other financial aid forms.

It is January, so parents will soon be able to fill out tax forms; you will also need to file your FAFSA for next year. Contrary to popular belief, you don't have to have your taxes complete in order to file a FAFSA. You can file an estimated FAFSA based on last year's taxes as soon as possible so that you can get more aid. When you actually file your taxes, go back to the FAFSA site and make corrections. The sooner you file your FAFSA, the more aid you may be eligible for. If you wait until March or April, your application for aid will end up at the bottom of the pile when colleges don't have as much money to give out.

By the middle of January, you should have filled out your FAFSA, either in hard copy or online. You can do this based on your tax forms or by estimates from last year's tax forms. 42% of submitted FAFSA forms contain mistakes, so contact us if you would like us to review your FAFSA before you submit it. We are trained to spot mistakes and have helped many clients submit correct FAFSAs.

Students should meet with their guidance counselors to discuss their college plans. Go over previous SAT and ACT scores with him or her to determine if you should retake either of these tests. Discuss whether the colleges to which you want to apply are appropriate, considering your academic and personal records. Request that your counselor send the transcripts of your first-semester grades to the colleges to which you applied, if necessary.

If you plan to retake the ACT, register now for the February 11 exam. Registration is due by January 6, and late registration (which requires a late fee) is accepted until January 20th. New York students should note that this exam is not being offered in New York in February. The next SAT test is January 28; regular registration is due by December 22 and late registration is due January 4. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites. Have official test scores sent to colleges on your list if you have not yet done so.

Parents need to determine the standards of eligibility for any merit-based scholarships at the colleges to which the student is applying. It is important to know what guidelines the school has and if the student will qualify for any of them. Also determine whether or not the colleges require any of their own financial aid forms in addition to the FAFSA and CSS Profile before they will award any free scholarships or even loans.

If the student applied for early decision, you should have an answer by now. If you were accepted, follow the instructions for admitted students. Keep in mind that applying for early decision prevents you from having the opportunity to discuss your financial package with the college and possibly obtain more aid. If the college's decision is deferred until spring or you are denied, talk with your College Assistance Plus Representative, who will help you locate and submit applications to other colleges. It is always good to have other options when trying to obtain the best financial package.

Plan visits to any colleges and set up interviews if you did not get to them during the summer or if you would like to return to a campus for a second time. Read bulletin boards and the college newspaper while you are there; also, talk to current students and professors about their experiences.

Athletes who plan on playing in college should be talking about athletic programs and scholarships with the coaches at the schools to which they are applying. Athletes should also complete the NCAA Initial Eligibility Clearinghouse form if they hope to play Division I or II sports. Remember, Division III schools do not give specific athletic scholarships; they have other ways to offer aid. NAIA schools, however, do give out athletic (and academic) scholarships.

If you play a spring sport (such as track and field, baseball, softball, etc.), make sure that you are marketing yourself to schools now. Don't wait for the sport season to be over, because many colleges have already made decisions by that time. Now is the time to be emphasizing what you have done in that sport in the past.

Parents should keep budgeting for college; any money that is put aside will help. Be sure that you do not put an amount that exceeds $2500 into an account with the student's name on it.

Report cards have most likely been issued recently, or they will be issued soon. Parents should take time to review the student's report card and see how he or she is doing, particularly in subjects that may count for college credit. If the student is not doing well, make sure that he or she continues to do homework and study for tests.

College freshmen and sophomores

If the student has a car and will be traveling home for Christmas/winter break, parents should check their insurance policies to see if they have towing/roadside service. If the insurance policy does not include this, consider purchasing AAA for the peace of mind. This can be especially helpful to parents who have daughters in college.

It is almost January, so parents will soon be able to fill out tax forms; you will also need to file your FAFSA for next year. Contrary to popular belief, you don't have to have your taxes complete in order to file a FAFSA. You can file an estimated FAFSA based on last year's taxes as soon as possible so that you can get more aid. When you actually file your taxes, go back to the FAFSA site and make corrections. The sooner you file your FAFSA, the more aid you may be eligible for. If you wait until March or April, your application for aid will end up at the bottom of the pile when colleges don't have as much money to give out.

By the middle of January, you should have filled out your renewal FAFSA, either in hard copy or online. You can do this based on your tax forms or by estimates from last year's tax forms. 42% of submitted FAFSA forms contain mistakes, so contact us if you would like us to review your FAFSA before you submit it. We are trained to spot mistakes and have helped many clients submit correct FAFSAs.

Students should be sure they have met with their academic advisors to work out schedules for the next semester and to discuss plans for the next three and a half years. If you have not declared a major yet, talk with a counselor or general advisor to determine which classes to take in the next semester that may be required to graduate. Don't get trapped into an extra semester or year if you can help it!

It is very important for any students that received academic scholarships to keep their GPAs at the required level. Many students lose their scholarship benefits because of low GPAs, causing them to lose thousands of dollars the next year because of a lack of effort. Have fun at college, but don't lose your focus on performing well academically.

Good grades mean higher incentive for the college to give you scholarships for the following year and years after that. Also, 30% of students transfer after the first or second year of college, so higher grades will give you the ability to negotiate a great deal at the college the student is transferring to. Students should focus on doing well on their final exams this month; because classes aren't in session at most colleges during finals week, it can be easy to slack off and ignore studying. Study! This is an important part of your first semester in college.

Students should avoid buying books from the campus bookstore if possible. Buying used books from other students or online is almost ALWAYS cheaper, and you may be able to get up to 40% off new and used books through College Assistance Plus at Amazon.com and Barnes & Noble Online.

If you have transferred to a new school in between semesters or quarters, be sure you meet with your academic advisor and figure out what requirements you still need in order to graduate. Be sure that you are on target, and if you are behind, look into taking summer classes at a community college to get any extra credits that you may not be able to fit in before you graduate. Don't forget to give yourself a little bit of time to get accustomed to new surroundings, new people, new professors, and new expectations. Talk to other students to get an idea professors' expectations, and work hard in the first month to make sure you start off strong at your new school!

College juniors

If the student has a car and will be traveling home for Christmas/winter break, parents should check their insurance policies to see if they have towing/roadside service. If the insurance policy does not include this, consider purchasing AAA for the peace of mind. This can be especially helpful to parents who have daughters in college.

It is almost January, so parents will soon be able to fill out tax forms; you will also need to file your FAFSA for next year. Contrary to popular belief, you don't have to have your taxes complete in order to file a FAFSA. You can file an estimated FAFSA based on last year's taxes as soon as possible so that you can get more aid. When you actually file your taxes, go back to the FAFSA site and make corrections. The sooner you file your FAFSA, the more aid you may be eligible for. If you wait until March or April, your application for aid will end up at the bottom of the pile when colleges don't have as much money to give out.

By the middle of January, you should have filled out your renewal FAFSA, either in hard copy or online. You can do this based on your tax forms or by estimates from last year's tax forms. 42% of submitted FAFSA forms contain mistakes, so contact us if you would like us to review your FAFSA before you submit it. We are trained to spot mistakes and have helped many clients submit correct FAFSAs.

It is very important for any students that received academic scholarships to keep their GPAs at the required level. Many students lose their scholarship benefits because of low GPAs, causing them to lose thousands of dollars the next year because of a lack of effort. Have fun at college, but don't lose your focus on performing well academically.

While the student is home for Christmas or winter break, he or she should plan to talk to friends/relatives/acquaintances about any job connections those people may have. Email people in advance to be certain that they have time for you while you are home. In order to ensure that you find a job when you graduate, it's good to find an internship or job in your field during the summer. Networking is the best way!

Students should be sure they have met with their academic advisors to work out schedules for the next semester. Also, talk with advisors or professors about helping to find an internship or summer job. Beware of any promises that someone else will find you a job; people often are unable to follow through with promises like this. Finding a job will be your responsibility, not someone else's.

Students should work hard during finals week to maintain strong grades for the semester. Grades matter during your junior year!

Students should avoid buying books from the campus bookstore if possible. Buying used books from other students or online is almost ALWAYS cheaper, and you may be able to get up to 40% off new and used books through College Assistance Plus at Amazon.com and Barnes & Noble Online.

College seniors

Take advantage of being home for Christmas to talk to friends about jobs or internships after you graduate. Parents usually have many friends and contacts that may be helpful. Try to meet with any contacts who might be able to help so that you have as many people as possible looking for opportunities for you. Remember that most jobs aren't posted on web sites or in the newspaper. Don't rely on the college to get you a job; getting your first job is all about networking! Beware of any promises that someone else will find you a job; people often are unable to follow through with promises like this. Finding a job will be your responsibility, not someone else's.

If the student has a car and will be traveling home for Christmas/winter break, parents should check their insurance policies to see if they have towing/roadside service. If the insurance policy does not include this, consider purchasing AAA for the peace of mind. This can be especially helpful to parents who have daughters in college.

Parents should make it a point to caution their students about getting credit cards. The average college student has eight credit cards! We cannot stress enough the importance of controlling credit card use! Any late payment can be used as an excuse by the credit card company to increase the card's interest rate. Grace periods are also shrinking; whereas they used to be 30 days long, many credit card companies are decreasing these periods to 20 days, and some have no grace period at all. Be sure that both you and the student know the card's policies before signing up. Even inactivity on a credit card can result in high bank fees!

Students should avoid buying books from the campus bookstore if possible. Buying used books from other students or online is almost ALWAYS cheaper, and you may be able to get up to 40% off new and used books through College Assistance Plus at Amazon.com and Barnes & Noble Online.

Strategic Suggestions

High school students, especially juniors and seniors, need to spend time studying for the SAT and ACT tests. Unless you got a nearly perfect score, retake the tests! The highest combination of scores is kept, so there is no way for you to hurt yourself by taking the tests again. Some schools automatically reduce the costs of tuition by 50% or more if the student's SAT score is 1100 (by the old standard) or above! There are also many scholarships that students can qualify for based only on their SAT/ACT scores.

High school students should avoid focusing on a technical school unless he or she is certain that he or she will not be changing majors. Students are planning on going to college for pre-med, for example, should keep in mind that 80% of pre-med students change to another major during their first year of college. Liberal arts colleges are often good choices because they have a wide variety of programs that students can choose if they do not want to continue pursuing their first major. Talk to your College Assistance Plus representative to determine exactly what kinds of majors you are looking for, and he or she will help you find colleges that will meet all of your needs.

High school seniors need to remember not to make rash decisions right now. You don't have to make a commitment at this point; just apply to as many schools as you can, and wait to see what kind of financial packages they will give you. Remember that 33% of students transfer after their first year of college and another 12% after their second year, and the average student changes his or her major over 3 times in the course of their undergraduate education. The point of all this is to emphasize that you should really take your time and choose schools that you really would want to be at. Also, don't just choose a school because of a boyfriend or girlfriend. Often relationships don't last throughout college, and one or the other of you may decide to transfer for academic or financial reasons.

College students should work hard to get good grades, for getting excellent grades greatly enhances the ability to get extra money from the college for the following year. Also, if the student does need to transfer schools, a high GPA is extremely beneficial in getting a good financial aid package.

If there has been some circumstance in your family that has suddenly created financial hardship, write a letter to the college's Financial Aid Director explaining the situation. Be specific in asking for the university's support during the spring semester or this fall if possible. It would also be helpful to specify a dollar amount to assure them that the student would stay at the school if they could receive some extra assistance. Don't get ridiculous in your request but give the college a target. Also, make sure that they understand that you are not looking for loans but gifts/grants/hardship dollars directly from the college or university. If you call your CAPlus representative, he or she will assist you in drafting this letter.