It's October, so that means school is in full swing and students are looking forward to holidays. Drink some hot cider and enjoy the changing seasons, but remember to make plans for how you'll pay for college. It's a decision that will affect the rest of your life! You are receiving this newsletter because you subscribed at our website or at a seminar.

Early decision may not be the best decision

The early bird gets the worm. In most cases, it's true: you can get a better seat at a concert by being early, an "early bird" special at a restaurant, more money from the government if you send in your FAFSA earlier. But the exception comes when you start talking about early decision for college.

Although choosing to apply for early decision will get the waiting and the tough decision-making process out of the way by early December, it may not be worth it. By opting for early decision, you will prevent yourself from getting the maximum amount of financial aid possible.

First, it is important to note that there is a difference between "early decision" and "early admission." Although the two terms are often used interchangeably, they have different meanings. Early admission refers to beginning college before high school graduation. Early decision allows the student to apply early (usually in November) and receive an admission decision before the college's usual notification date.

It is also important to understand the terms of an early decision. It is a binding agreement, which means that if you are accepted, you agree to attend that institution no matter what. You are also only allowed to apply for early decision at one school, although you may still apply for regular decision at other colleges. In some cases students can be released from an early decision agreement on the grounds of financial hardship, but the student is entirely responsible for proving this hardship to the college. Colleges take reneging on early decision agreements very seriously, and if you back out, another competitive school is unlikely to accept you.

Colleges often accept early decision applicants before the financial aid packages are prepared and offered to the student. If you have signed on the dotted line for early decision and receive a financial aid package that just won't meet all of your needs, you do not have the option of switching to another school. You're stuck with what they offer you, even if it means you have to find other loans and lenders. And the college doesn't mind, as long as they have your signature. What matters to the college is that you will be attending in the fall, not how many loans you have to take out.

Another downside of early decision is that it tends to encourage students to slack off during their senior year of high school. Without the question of acceptance or rejection hanging over students' heads, it's easy to succumb to senioritis early during the year. Colleges have been known to rescind offer letters if a student's grades drop dramatically during the senior year, even if the student was an outstanding candidate.

If you do want to apply early and get the application process out of the way, there is another option. Many colleges are implementing another early acceptance program called "early action," which does not hold the student to a binding agreement while still allowing the student to apply and receive a decision early. This gives you the benefit of early notification without binding you to any particular school right away. If you choose this option, be sure that you wait until the spring when you have received financial packages from all of the schools to make your final decision.

Some colleges are also eliminating the early decision option, which validates the theory that if the student would have been accepted early decision, they also would have been accepted in the regular admission process. The early decision option was simply a way for the colleges to pick the "best" students and lock in their attendance without any kind of financial commitment on the college's part.

If you are uncertain about your future or want to avoid being shackled by debt when you graduate from college, hold off on early decision and apply at the regular time. You may find your career goals changing halfway through your senior year, and you don't want to hinder yourself from receiving as much financial aid as possible. Remember, the best college choice is based not only on the majors, location, and extracurricular activities available, but also on the best buy for your money.

CAPlus news

College Assistance Plus is franchising! This past month we added a new franchise in the Merrimack Valley of Hew Hampshire. 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

Parents need to approach paying for college intelligently and develop a business plan to go about it. Work with your CAPlus representative and educate yourselves about financial aid so that you better understand the process. The more you know, the more you can save!

At this point in their high school career, students should be participating 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.

Take some time to discuss repositioning your assets with your CAPlus representative. Moving qualified assets into non-qualified accounts will help you receive 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. The sophomore's year is the best time to do this, because there is a two-year look back period on the FAFSA, during which the government can look to see which assets you've moved.

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 you can take courses that will help 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.

High school juniors

Students must work hard in their junior year of high school to maintain good grades. Senioritis won't really hurt you (as much), but junioritis will kill you! Junior year grades are especially important because they show the college what kind of work the student can do, especially in advanced, college-level classes. Grades are also used to determine scholarship and grant eligibility. A strong GPA and test scores will often be rewarded with college grants, free scholarships, and other educational grants.

Taking AP classes may help with the student's college applications. Colleges want to see that the student is capable of doing challenging work, and they would often rather see a student receiving a B in an AP course than an A in an easy high school class. Talk to your guidance counselor when it is time to select classes for next semester so that the student can take courses that will help build a strong transcript.

Junior-year PSAT scores may qualify a student for the National Merit Scholarship Competition and the National Achievement and National Hispanic Scholars programs. Even though these scores will not be used in the college admission process, it is still a good idea to take the PSAT. Check with your school's guidance counselor to see when the PSAT will be given; it is usually offered at the school sometime in the middle of October. If the student begins preparing for the SAT now, he or she will have a better chance at doing well on the PSAT and the actual SAT exam.

You should identify schools where the student is in the top 25% of the admitting freshman class. If you want to increase your chances of receiving more scholarships/aid, find schools where the student is in the top 20%. Students in this category tend to receive more free college scholarship/grant money and need less money from student loans. Look on your CAPlus Junior Guide for more information on this subject.

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.

Continue to refine your 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.

Students need to begin preparing for the ACT and SAT tests, even if they haven't yet taken the PSAT. The next ACT test is October 28; the regular registration date has passed, but late registration is accepted until October 6. The next ACT exam will be offered on December 9; registration is due by November 3. The next SAT test is November 4; regular registration was due in September, but late registration is accepted until October 11. The next SAT exam will be December 2; regular registration is due November 7, and late registration is due November 9.Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites near you. There is also an SAT prep center at the website. It is extremely important that students prepare for these exams; better scores can mean better financial aid!

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.

Students should spend 1 to 2 hours a week preparing for the SAT or ACT test. Remember, good SAT/ACT scores mean better financial aid packages, and the college will offer you more aid when they want you! CAPlus clients receive a special discount on Grammatix study guide, an excellent system to help prepare for the SAT. Ask your CAPlus representative about it today!

High school seniors

Students need to continue preparing for their college applications by drafting essays, collecting writing samples, and assembling portfolios or audition tapes.

Athletes who plan on playing in college should contact the coaches at schools to which they are applying and ask about intercollegiate and intramural sports programs and athletic scholarships. Athletes should also complete the NCAA Initial Eligibility Clearinghouse form if they hope to play Division I or II sports. (This form cannot be mailed until the student finishes his or her sixth semester of high school.)

If students are not happy with their previous SAT/ACT scores, register to retake these tests. The highest combination of scores is always used, so taking the tests again won't hurt. The next ACT test is October 28; the regular registration date has passed, but late registration is accepted until October 6. The next ACT exam will be offered on December 9; registration is due by November 3. The next SAT test is November 4; regular registration was due in September, but late registration is accepted until October 11. The next SAT exam will be December 2; regular registration is due November 7, and late registration is due November 9. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites near you.

CAPlus clients who are preparing for the SAT exam are eligible to receive a special discount on Grammatix, a study program that helps students develop unique test-taking skills and strategies. See your CAPlus representative to find out more about this exciting opportunity!

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 that you 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 loans.

Check on application and financial aid deadlines for the colleges to which the student wants to apply. Although most deadlines are after January 1, they do vary from school to school. It is essential 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.

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. Be sure that you have talked with your College Assistance Plus representative and know the cost of the colleges before you go. We have College Visit packets available to help you narrow down your college search.

Keep all records, test score reports, and copies of admissions and financial aid applications. Do not throw anything away until at least the end of your first year in college. Having detailed records will save you time and effort should anything be lost or should you decide to apply to other colleges or scholarship programs.

Taking advanced placement (AP) courses can boost a student's standing in the "admission game" and save money if the student can test out of a required course when he or she gets to college. It will also show the college that the student is willing to put extra effort into schoolwork, making him or her more attractive to the college.

The New York State Lottery offers a scholarship to one graduating senior from every participating public and private high school in the state. Those could be good odds, depending on how many students apply for the scholarship. Other state lottery programs may have similar scholarship opportunities; go to your state's lottery website and check for any information on scholarships.

By now the due dates for recommendation letters may 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 it in 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. This often gives the writer a strong foundation on which to write.

College freshmen

Students need to be continuing to develop good study habits near the beginning of their college careers; setting priorities and establishing a budget can have a lasting impact on the college experience in many areas.

Good grades mean higher incentive for the college to give you scholarships for the following year, and even for years after that. Also, 30% of students transfer after the first or second years of college, so higher grades will give you the ability to negotiate a great deal at the college to which the student is transferring. Parents need to remember that the student is on his or her own as far as school goes now, but it can't hurt to check up on the student and give him or her encouragement at times.

Avoid spending loan money on pizza and CDs. You may not realize it now, but you will be paying for that pizza for the next 30 years...with interest! It may cost $15 now, but add the interest and that one pizza will really cost you $65!

If the student has a car and will be traveling home for Thanksgiving break, parents should check their insurance policies to see if they have towing/roadside service. If your policy does not include this kind of coverage for your child, consider purchasing AAA for the peace of mind.

Parents should make it a point to caution their students about getting 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!

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 if possible!

Avoid buying books from the campus bookstore if you can. Buying used books from other students or online is much cheaper than buying new books from the campus bookstore. 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 sophomores and juniors

Next summer seems like a long time from now, but if you want a job in your field of study, it can't hurt to start thinking about it now. Visit your career services center and discuss with a career counselor how to start looking for a job or internship over the summer.

If you have changed majors, added a major/minor, or transferred colleges, make sure that you have met with your advisor to help you map out the next few years. Don't get trapped into an extra semester if you can help it, or you may find yourself paying a lot of unnecessary money in loans or lost income.

If the student has a car and will be traveling home for Thanksgiving break, parents should check their insurance policies to see if they have towing/roadside service. If your policy does not include this kind of coverage, consider purchasing AAA for peace of mind.

Parents should make it a point to caution their students about getting 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!

While the student is home for Thanksgiving (and soon, Christmas) break, plan to talk to friends/relatives/acquaintances about any job connections those people might have. In order to ensure that you have a job when you graduate, it's good to find an internship or job in your field during the summer. Flipping burgers at McDonald's won't make your resume look better, even if it is easier to arrange than a "real" job. Networking is the best way to find jobs, so talk about your job search with everyone you know!

Avoid buying books from the campus bookstore if possible. Buying used books from other students or online is much cheaper than buying new books from the campus bookstore. 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

Students should be planning how they will find jobs once they graduate. Finding a job by graduation depends on strategizing and marketing yourself well. Begin searching now and network with others. Don't wait until two weeks before graduation...it will be too late!

If you are graduating and aren't sure what you'll be able to do with your degree, give your CAPlus representative a call. We work with students all over the country, and we know what kinds of jobs are available. We can help you learn what might be available in your field and what kind of job you would like to have.

It is important for students to start writing letters to contacts in their field to help find jobs when they graduate. Parents usually have many friends and contacts that may be helpful as well. Try to meet with any contacts who might be able to help as you go home for Thanksgiving break so you have as many people as possible looking for opportunities for you. Remember that most jobs aren't posted on the Web or in the newspaper. Networking is the best way to find a job!

Avoid buying books from the campus bookstore if possible. Buying used books from other students or online is much cheaper than buying new books from the campus bookstore. 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

When considering which schools to apply to, high school juniors and seniors should look for schools that offer every major that the student is interested in. Many students decide to switch majors after they start college, and if the school doesn't have the second major that the student is interested in, the student will have to transfer. Transferring schools will generally result in spending an extra semester or two to finish a degree, simply because some credits don't transfer or the requirements are different. Ensuring that you won't need to transfer due to a change in your major will help you save time and money.

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 test! The highest combination of scores is kept, so there is no way for you to hurt yourself by taking the exams 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.

College students should work hard to get good grades, for getting excellent grades greatly enhances the ability to get extra money from the college. Even if you can't maintain a 3.5 GAP, don't be discouraged! If you work hard and raise your GPA, the college will notice. Also, if the student ends up transferring, a good 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. 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.