CAPlus Monthly - June/July

Colleges aren't getting much bigger, but studies show that the number of applicants is increasing. High school students graduating between now and 2012 may have a harder time getting accepted into college because of the boom. After 2012, the trend is expected to decrease.

For example, applications to Colgate University have increased 33% in two years; they have risen 24% at Hamilton College in the past year; and they have increased 20% in the past two years at Utica College.

Because of the rising number of applicants, more and more students are being denied admission to these four-year colleges. Some schools are also becoming more selective in order to deal with the increase. Other schools, on the other hand, are taking advantage of the situation to grow.

Students need to realize that the increasing number of applicants means that they may need to apply to more schools in order to be accepted and get a good financial package. Another way to beat this trend is to attend community college for the first two years and then transfer to a four-year school. Students can also work harder in high school to make their applications stand out from all the others.

Although this trend may seem discouraging to students who are not as strong academically, there is no cause for alarm. They must simply work harder and make wise choices when applying to college.

CAPlus news

An article discussing the benefit of CAPlus's franchise opportunity for tax professionals was printed in the NATP (National Association of Tax Professionals) TaxPro Journal.

College Assistance Plus is franchising! Visit our franchise website to read more about this exciting adventure. If you or someone you know is interested in this new opportunity, email franchise@collegeassistanceplus.com.

High school sophomores

You should start thinking now about which colleges you might want to visit during the summer. Spring and summer are great times to visit schools, so you should begin planning these trips now. If your family takes a vacation together in the summer, try to fit a few college visits in while you are at it. Make informed, educated decisions on which colleges to visit. Remember, don't visit schools that you know you can't afford!

School is over or almost done for most students around the country. Relax and enjoy the summer, but don't forget to schedule in some SAT or ACT study time! Studying at least one hour a week now will help the student get a higher score, which can lead to more financial aid. Colleges often knock down tuition prices by thousands of dollars depending on SAT/ACT scores. Study software is often very helpful in preparing for these tests. You can also take advantage of our exclusive offer of 10% off the Grammatix SAT study guide by clicking here!

Students should take some time during the summer to get involved in community service activities. This can help complement a student's achievements in academics, athletics, arts, or other areas.

Not only will this make the student more attractive to the colleges during the admissions process, but it may also make them more qualified to receive scholarships and grants.

If your student is active in community work or volunteer projects with adults, it may be a good idea to ask for recommendation letters now. Getting a head start is a great idea, and it is important to get recommendations from people while the experiences are still fresh in their minds.

Parents should move qualified assets into non-qualified accounts. This strategy is an important key to receiving more financial aid than you may have thought possible. (Qualified assets are assets that qualify for the FAFSA, while non-qualified assets do not.) If your assets are exposed to either the federal or institutional methodology, you can reduce the amount you have to pay by altering the title or moving those assets into non-qualified accounts. Be careful to properly and legally implement these strategies. See your financial advisor or CAPlus representative for more assistance in this process.

High school juniors

School is over or almost done for most students around the country. Relax and enjoy the summer, but we suggest having a summer job or getting involved in community service activities. Having a job can help you earn money and teach you about responsibility, and community service will help you in the college admissions process.

Check local community colleges to see if there are any summer courses that may be of interest to you. Look for courses in the major you are interested in pursuing; also look for any general courses that may count toward general education credits when you get to college. Community college usually costs less than a public or private college, so this can save you from having to pay more for those credits later.

If you plan on re-taking the SAT or ACT exams, make some time during the summer to study! Studying at least one hour a week now will help you get a higher score, which can lead to more financial aid. Colleges often knock down tuition prices by thousands of dollars depending on SAT/ACT scores. Study software is often very helpful in preparing for these tests. You can also take advantage of our exclusive offer of 10% off the Grammatix SAT study guide by clicking here!

If the student is planning on having a job during the summer, the parents should sit down with him or her and go over the importance of having a budget to plan where the money is going. Also, it might be wise to keep the money that the student earns in a parental account instead of an account in the student's name. The federal government expects that the family will use a higher percentage of money in the student's name to pay for college.

Spring and summer months are often great times to visit colleges,

so plan any summer visit trips now. Make informed, educated decisions on which colleges to visit; don't visit colleges that you know you are unable to afford. This may save you from emotional attachment from a college that is too expensive. You don't want to waste your time and gas money visiting colleges that you just can't afford.

Students should go online to the websites of the colleges that they are most interested in attending. Collect information about college application procedures, entrance requirements, tuition and other fees, room and board costs, student activities, course offerings, and financial aid. Begin comparing schools by factors that you find most important.

Students should continue to refine their lists of potential colleges. 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. Talk with your parents about the colleges in which you are interested; parents often have wise insights and suggestions.

When the student has figured out the things he or she would like in a college, give the information to your College Assistance Plus representative if you have not yet done so. We will then give you a detailed comparative list of colleges that meet your search criteria and their up-to-date financial information. We will be available to sit down with you and discuss the list and where your student may fit the best.

Parents should also move qualified assets into non-qualified accounts. This strategy is an important key to receiving more financial aid than you may have thought possible. (Qualified assets are assets that qualify for the FAFSA, while non-qualified assets do not.) If your assets are exposed to either the federal or institutional methodology, you can reduce the amount you have to pay by altering the title or moving those assets into non-qualified accounts. Be careful to properly and legally implement these strategies. See your financial advisor or College Assistance Plus representative for any assistance in this process.

High school seniors

If you filed your FAFSA, you should have received your SAR (Student Aid Report) by now. If you have not received it, call 1-800-4-FED-AID or visit www.fafsa.ed.gov, because it is essential that you have this information. This report summarizes your financial aid eligibility, so make sure you read it carefully. If there are any inconsistencies or errors, make the changes necessary and either send the packet back or update the information online. If you have questions, feel free to contact your CAPlus representative for help.

Many colleges' application deadlines have passed by now, although there are also many that are on a rolling admission schedule (meaning that you can apply at any time). If you have missed deadlines, look for colleges with later deadlines to which you can apply. We suggest applying to six or more schools. Once you have applied, follow up with the admissions office to make sure that they have received all of the necessary information from you and your high school.

If you are a CAPlus client, keep your CAPlus advisor informed whenever you receive an acceptance/rejection letter or a financial aid package letter. Send photocopies of all financial aid packages so we can help you understand how much money the college is really going to give you. Tell us what you're thinking about where you'd like to go so we can help negotiate a better deal for you.

You should have received financial package letters from all the schools that you were accepted to.

Compare the offers to determine the best choice for you. Contact your CAPlus representative for help with making your final choice. If you haven't made your choice yet, don't worry. You have plenty of time.

Don't make rash decisions. Remember that many students transfer after their first year, and the average student changes his or her major at least 3 times in the course of their undergraduate education. The average cost of changing a major is about $8000, which adds up, especially if the student is in school for the average 5 years. Take your time and choose a school that you really would want to be at. Also, don't 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.

If the student is finding that he or she is not receiving good financial packages from the colleges to which he/she has applied, consider applying to some additional schools. Many schools have rolling application deadlines and will let you apply up until the beginning of school in the fall.

You may want to look into any summer classes offered by community colleges in your area. You may be able to get some of your general education classes out of the way at a lower cost than you would pay at a public or private institution.

If you have made your college choice, congratulations! It's a tough decision to make. Don't forget to send in your tuition deposit, and please notify your CAPlus representative so we can update our records.

College freshmen, sophomores, and juniors

By this time in April, you should have filled out your renewal FAFSA, either in hard copy or online. If you did this this based on estimates from last year's tax forms, be sure to resubmit your update information once you have filed your taxes. If you have not filed your FAFSA yet, you need to do this right away. Timing is everything!

Good grades mean higher incentive for the college to give you scholarships for the following year and years after that. Keep studying and working hard; you're in the home stretch of the school year! 30% of students transfer after their first or second year of college, so if you transfer to another school, higher grades will give you the ability to negotiate a better deal for the next year. Parents should remember that their student is on their own as far as school is concerned, but it can be good to ask how the student is doing academically or giving encouragement over the phone.

It is very important for any students who 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.

When students meet with their academic advisors to discuss plans for the upcoming semester, make it a point to talk about whether you are on track to complete your degree in four years. If you have not declared a major yet, determine which general classes you can get out of the way now. Don't get trapped into an extra semester by being indecisive!

It is a good idea for parents to sit down with their students and outline a budget for the summer and the upcoming school year. Students need to be prudent about spending money instead of using loan money for pizza and CDs.

Even though the pizza costs $15 now, it will cost about $65 when you add on all the interest!

If you are planning to work during the summer, focus on finding a job that will enhance your resume. Service jobs are plentiful, but you should look for one in your field of study! Not only will this give you experience, but it will also help you determine if you really do want to be in this field. Network around and get some interviews if possible. School is almost out for the summer, and you should plan on having something lined up before the semester ends.

Students who plan on attending a summer session at college should make sure that they have applied. Make sure to stay on top of the work and do well in the course; if your grades are exceptional, your CAPlus representative may be able to leverage more aid for your senior year.

Students may want to schedule a meeting with a career counselor at college. Talking with someone may help you figure out what you can do with your degree and where you might look for a summer job. Don't count on someone else to find you a job, however.

Continue talking to friends/relatives/acquaintances about any job connections those people may have. 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!

Do not hesitate to call or email your College Assistance Plus representative if you are uncertain about how to use your degree. We are here to help, and sometimes it is beneficial to have a third party with whom you can talk about this issue.

College seniors

If you have graduated, congratulations! College is a long journey, but you're moving on to the next part of your life. If you still have a few classes (or an extra year) to go, keep pushing to keep your grades up until you graduate.

Continue looking for jobs and internships, and talk to friends and family for ideas or contacts. Network like crazy and stay focused. Parents usually have many friends and contacts who might be helpful. Remember that most jobs aren't posted on newspapers on websites. Getting a job is all about networking! Don't be shy about telling people that you need a job or asking if they know anyone who is hiring.

Do not hesitate to call your College Assistance Plus representative if you are uncertain about how to use your degree. We are here to help, and sometimes it is beneficial to have a third party with whom you can talk about this issue.

Don't worry too much if a month or two goes by and you haven't found the right job yet. Keep talking to people and interviewing; don't sit around the house and wait for people to call you. Also remember that your first job will probably not be your dream job. Because you are young and probably inexperienced, you may have to accept a job that is not quite what you had envisioned. This is not the case for all recent grads, however.

Strategic Suggestions

High school students should also take the summer to do volunteer and community service, and to seek a job in a field they might be interested in pursuing. Try to find a job that is more relevant to your career than flipping burgers at a local fast food joint. When you understand the job market and what you will be getting yourself into, it will be easier to choose a major in a field that you will stick with.

It is extremely important for high school students, especially juniors and sophomores, 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. It is good for students to study during the summer to keep their minds sharp and active.

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. Make sure that he or she understands that you are not looking for loans but gifts/grants/hardship dollars directly from the college or university. If you call or email your CAPlus representative, he or she will assist you in drafting this letter.