Not Submitting the FAFSA

Believe it or not, every year thousands of students fail to submit the FAFSA at all. Many students who do not complete the FAFSA feel their parents make too much money to qualify for any financial aid, but even those in low-income brackets are guilty of not applying too. Don’t make this mistake and let possible scholarships, grants and other forms of financial aid slip through your fingers. ALWAYS submit the FAFSA, starting with your senior year in high school, and file again each year you continue to be enrolled in college or grad school.

Filing Too Late

Although you may submit the FAFSA between January 1, 2012 and June 30, 2013, don’t wait until the last moment to do so. Verify your state deadline for submitting the FAFSA (usually between January and June) to ensure you receive any state funding available, and also check with your college for their financial aid deadlines. Many colleges (and some states) award aid on a first-come, first-served basis, so applying early is essential. You don’t have to wait for your parents to complete and file their 2011 federal income taxes to complete the FAFSA form either. You can use 2010 taxes or final pay stubs to estimate the 2011 numbers for the FAFSA. Once you and your parents have submitted 2011 tax paperwork, simply go back to the FAFSA website to update your forms. You will be reminded in April to do so if you indicate that you “will file” instead of “have filed” on the FAFSA form.

Incorrect Information

One of the most common errors students make when filing the FAFSA is using the wrong parent’s income information. If the student’s parents are divorced, whomever the student lived with the longest over the past year will be the parent listed on the form. Income from a parent not living with the student will typically not be included. Also, be sure to enter the correct person’s information throughout the FAFSA form. Remember ‘You’ refers to the student on the FAFSA, not the parent, even though parents should be helping with the form whenever possible.

Assets

Many applicants make the mistake of including assets that should not be considered on the FAFSA when calculating financial aid. If your parents have a retirement fund, the balance of that account should not be included on the FAFSA. Only contributions made in the previous year should be reported. Another mistake is adding in the equity from the family home; do not include the family home. Only equity in a rental property or vacation home should be included for FAFSA calculations. Also, do not include furniture, vehicles or household possessions in the estimation of assets. By including these items, you may seriously reduce your eligibility for financial aid.

Complete the Correct Form

While this may seem like a no-brainer, every year some people fail to read the instructions and choose the wrong form. If you are seeking financial aid for enrollment this fall (August or September 2012), you would need to complete the 2012-2013 FAFSA, not the 2011-2012 FAFSA.

The FAFSA has several pages to complete, so always remember to save your work as you go, or you could be in for an unpleasant surprise should your computer freeze or the website lock-up. Another thing every student should do when completing the form is to mark ‘YES’ when it asks if you are interested in work-study and student loans. This does not mean you are obligated to select any of the loans offered or accept the work-study, but at least the options will be available to you should you qualify. If you are feeling overwhelmed or find you need some assistance, be sure to contact the FAFSA helpline at 800-433-3243 or open an online FAFSA chat session. Be sure to visit the FAFSA website for forms (online and paper) or more information. Good luck, and keep in mind the saying, “The early bird catches the worm,’ or in this case, the financial aid for college!

You Had Me at Hello

The introductory sentence and paragraph just may be the most important element in your personal statement; grab your audience quickly and draw them in to your world. Admissions officers are looking for something unique and intriguing, so wow them right off the bat. This can be done through at snapshot of who you are or with a quick engaging story; in either case, make your opening paragraph entertaining and compelling.

Brag About Yourself

For some students, this is the easy part of the personal statement, but be sure to avoid making a laundry list of your accomplishments. Nothing is more boring than reading a long list of your activities and awards; it’s also not an accurate picture of who you are. Your personal statement is a chance to show you are more than just test scores and a transcript. Have you won a prestigious award? Tell why you received the award or why it’s important to you. Were you inspired by a person or an event? Talk about what motivates you and not just the actual award or recognition itself.

Get Creative

Like any good book, the first chapter (introductory paragraph) piques your interest, but the actual story is what keeps you engaged; approach your personal statement as the “story of you.” Do a little research into the campus and your choice of major, then tie specific aspects of the college into your story. For example, if you are majoring in Sports Management, is there an athlete or coach who inspired you? Write about a specific game or speech that may have been the catalyst for your decision to attend their school. Include how the courses offered at the college will be a perfect fit and how you can contribute to the program. Definitely make it personal, but be honest; you wouldn’t want to tell some elaborate story and have it come back to haunt you at a future interview.

Follow Directions

Even if you have a great story to tell, simple grammatical errors and failing to follow the instructions can result in rejection. Be sure your personal statement has clearly addressed all the writing prompts and has stayed within the word count, font size and other limitations. Read over your work several times to make sure it makes sense. Finally, have another person review your writing before submitting the final product.

Another thing to consider when writing your personal statement is avoiding clichés. If you are heading into the medical or legal field, admission representatives already know you want to help people; there’s no need to reiterate that fact. Also, don’t write what you think they want to hear — be honest and tell your story; they are more likely to remember a story about how you saved a mouse from your cat, than a statement about how much you love animals and want to be a veterinarian. Be sure you leave them with a clear picture of who you are and why you would be perfect for their school. Your personal statement just may be the deciding factor in whether or not you are “rejected” or “accepted” to your dream school.

For other great tips on writing a personal statement, be sure to check out the UC Berkeley and Purdue University websites.

Middle-income families find themselves essentially ‘stuck in the middle’ and some institutions are taking note of this fact. In an effort to help students afford the colleges of their dreams, many private institutions have revised their financial aid packaging rules. For example, Harvard University announced that it is expanding its ‘zero contribution threshold’ to $65,000 for 2012. This means that students from families with less than $65,000 in annual income, who are accepted under regular admissions policies, will have no expected parent contribution toward their college education. Also, students with family incomes of up to $150,000 will have average expected parent contributions capped at 10 percent or less of annual income.

Additionally, some private institutions continue to limit or eliminate loans from their financial aid packages, replacing them instead with grant aid and work study options to help reduce student debt. Some of the colleges offering reduced loans or “no loans” packaging benefits include: Amherst College, Bowdoin College, Brown University, Colby College, Columbia University, Emory University and Northwestern University.

Stanford University offers up another model while trying to ease the financial barriers to education for middle-income students and families. Stanford University does not require a parental contribution for tuition from students with family incomes of less than $100,000, and students from families making less than $60,000 annually are exempt from parental contributions when paying room and board fees as well. Stanford has also eliminated student loans from its financial aid packages and replaced them with grants.

While the majority of these programs are only available at private colleges, one public institution is throwing its hat into the ring. Last month, the University of California at Berkeley announced a new financial aid program that is designed to make the university more affordable to middle-income families making between $80,000 and $140,000 annually. The school will now cap the expected family contribution for total cost to 15 percent of the family’s income. The initiative is believed to be the first of its kind at a public institution and will cost Berkeley an additional $12 million in aid for the 2012-2013 academic year. Officials at Berkeley point out that the average student debt for the estimated 40 percent of Berkley students that graduate with loans is only $16,056, nearly $9,000 less than the national average.

As tuition rates rise and competition for scholarships increases, it is refreshing to see colleges taking an interest in middle-income families. A student should not have to be burdened with a mountain of student loan debt nor be limited to just a few enrollment options simply because he or she has parents that make too much to qualify for federal aid, but not enough to cover the expected parent contribution at college. Colleges recognize the need to attract and keep talented students enrolled, regardless of family incomes, and are addressing this issue through a variety of programs designed to help students from the middle class.

Freshmen/Sophomores

Was your PSAT score lower than you expected? No problem, you still have another shot (or two) at getting a better score. The College Board has plenty of information and resources to help you with test prep and creating a test plan. Be sure to take free online sample tests as often as possible. The tests are even separated by section to help you focus on the areas where you need the most help. Also, keep in mind some of the suggestions the College Board gives students for testing strategies, such as:

1. Learn and understand the directions for each type of question.
2. Read all answers before marking your answer sheet.
3. Do scratchwork in the test booklet.
4. Work steadily and skip questions that are complicated or you do not know.
5. Check the answer sheet often to make sure you haven’t marked the wrong areas.
6. Don’t guess blindly, as you lose ¼ point for every wrong answer.

Juniors

All is not lost if you are a junior with a low PSAT score. While a poor score may not qualify you for the National Merit Scholarship Program, the test still serves as a great warm-up to the SAT. Your PSAT score will give you some indication as to how well you will perform on the SAT (for example, a 42 on the PSAT would be a 420 on SAT) and in what areas you need the most work. Before you sit for the actual SAT, use the next couple of months to really work on those online practice tests or find a local test prep class to help you improve your testing skills. The same suggestions the College Board gives to those preparing for the PSAT also hold true for those moving on to the SAT, so follow the suggestions listed above to get a solid start to your SAT test planning and preparation.

The important thing for all students to remember is not to give up. Create a study plan and commit to it. The effort you put in now could be well worth it when you see an increase in your test scores the next time around. For more information concerning the PSAT or SAT, please visit the College Board.

Need help planning for college? Be sure to check out WiseChoice.com for information on college admissions, financial aid and the college search process.

Explore Colleges

Take some time over the winter break to review college brochures and visit school websites. Use a college search tool, such as CampusDiscovery.com, where you can get information and school reviews from actual students who attend the colleges that interest you. Another great resource is WiseChoice.com. This service allows you to find colleges that match your interests and provides an estimate of your chances of being accepted by those on your list.

Start a College Savings Plan

After researching your colleges, be sure to use a college cost calculator to determine how much money you will need to attend. You can go to each college website individually, or use the WiseChoice.com College Cost Calculator to compare colleges side-by-side. Once you have a good idea of how much your college degree will cost, sit down with your parents and have a serious conversation about how you will pay for everything. They may expect you to contribute, so be prepared to create a savings plan to help cover the costs. Also discuss student loan options and other financial aid.

Search for Scholarships

Part of your financial plan should include scholarships. The earlier you begin, the better. It may take you some time before you actually win an award, but you can’t win if you don’t apply. In addition to the WiseChoice Scholarship Finder, you can use online scholarship search tools such as ScholarshipExperts.com , Cappex or Zinch.com. Schedule time each week to apply to at least one scholarship program and continue to apply throughout your high school years. The more scholarships you can secure, the less student loan debt you will have at graduation. The trick here is not to give up. Be persistent and your hard work will eventually pay off.

Volunteer

Many students view volunteering as a chore, or a burden. This is the wrong attitude to take toward community service; what many do not realize is that volunteering opens doors. While giving your time to others, you’ll be learning new skills and meeting people. These people can be helpful in the college process for several reasons. They may be able to help with internships, jobs and letters of recommendation. You may also cross paths while volunteering with someone who is a graduate of one of the colleges on your list; this is beneficial because he/she may be able assist you with several facets of the college admission process. Volunteering is also a great way to get scholarships. Check with the organizations to see what resources may be available to you and always keep a log of your activities. Never dismiss volunteering as simply ‘free labor,’ as the rewards far outweigh any paycheck you may receive.

As you ring in the New Year, make sure college planning is one of your resolutions. The longer you put off the college planning process, the more likely you are to feel stressed during you final years of high school. There’s plenty of time now to have some fun and get ready for college. Here’s hoping you start your New Year on the right path!

Be sure to check out the WiseChoice.com Learning Center for more help with the college planning process.

Test Preparation – Before you leave for the break, stop by and talk to your guidance counselor about the possibility of taking one of the SAT Subject Tests™ this spring while the material is still fresh in your mind. Additionally, if you have already taken the PSAT, use your score report to sign into the CollegeBoard.com website and create a study guide for the SAT. By getting a jump on the SAT now, you’ll be well-prepared for the test during your junior and senior years.

Volunteer – The holidays are a perfect time to rack up some volunteer hours. Help out at a local shelter preparing meals, start a blanket drive, help sort books at the local library or volunteer at ab animal shelter;  find something that interests you and jump in. Volunteering is a great way to network with potential employers or develop relationships with additional references. It’s also an excellent way to increase your scholarship opportunities.

Research Colleges – Use an online college planning tool, like WiseChoice.com, to find colleges that are perfect for YOU. Learn about each school’s financial aid, campus size, dorm options and overall costs of attendance. By starting your search now, you can plan to visit some campuses over spring break, and hopefully get your list narrowed down so you can be more focused your junior year.

Determine the ‘True Cost’ of College – Most colleges have a financial aid calculator on their websites, but you can reduce your research time by using the College Cost Calculator on WiseChoice.com. Simply load your information one time, and you’ll be set to compare the cost of the colleges side-by-side. Once you know the ‘true cost’ of the colleges on your list, you can start planning how to pay for your college degree.

Search for Scholarships – An important element of any college financial plan should be scholarships, including institutional, corporate and state aid. Use several good online scholarship search tools, like ScholarshipExperts.com or Zinch.com. Apply for two or more scholarships during the holiday break, and continue to apply throughout your high school years. If you start early, you’ll hopefully reduce the need for student loans.

Make the most of your winter break by setting aside some time to tackle these college tasks. You’ll not only be ahead of many of your classmates, but should also be able to reduce the stress that ultimately hits those who procrastinate. With a little planning, you’ll ring in the New Year a few steps closer to your perfect college match.  Happy Holidays!

Want to learn more about the college planning process? Visit WiseChoice.com today!

Applicants and Parents:

-           With a valid SSN and FSA PIN

-           Who have completed a 2011 tax return

-           With no change in marital status within the last year

How does it work?

-          Applicants and/or parents will select ‘Link to IRS’ in the financial information section

-          Once connected to the IRS, applicant/parent will need to authenticate

-          Once approved, applicant/student tax information will be imported into FAFSA form

If you are unable to verify with the IRS, you will need to fill out the form manually. Be sure that your information matches what you provided on your tax forms, or you may be subject to review. Also, if you elect to send in your FAFSA using estimated income, be sure to go back and correct the form after your IRS return for 2011 is complete. The Retrieval Tool should be available for use by February 1, 2012, for funding during the 2012-2013 school year. For more information about the Free Application for Federal Student Aid, be sure to visit the FAFSA website or WiseChoice.com.

Time

The ACT takes 3 hours and 25 minutes (including the optional 30 minute writing test) to complete, while the SAT takes 3 hours and 45 minutes.

Conclusion:  If you dread sitting in one place and taking long exams, the ACT may be more your style.

Sections

The ACT includes tests on English, math, reading and science (essay optional). The SAT includes critical reading, math and writing (essay required).  ACT math (1/4 of score) includes Algebra, Geometry and Trigonometry, while SAT math (1/3 of score) includes Basic Geometry and Algebra II only. The SAT reading section is geared more for those who are avid readers and have a wide vocabulary range. ACT tests basic reading comprehension.

Conclusion: Those who have good writing skills and can think abstractly may perform better on the SAT, as well as those who do not have a good grasp of Trigonometry. However, if you excel in math, but dread writing essays, the ACT may be a better fit.

Scores

Each section on the ACT is scored from 1 to 36, and your average score is known as your Composite Score (1-36). Each section on the SAT is scored from 200 to 800, with the possible combined total ranging from 600 to 2400. Students may submit scores from multiple test dates, but some colleges won’t use the best sections from different test dates when calculating the composite ACT score. However, some colleges will ‘mix and match’ the best section scores from different SAT test dates, allowing students the opportunity to receive the highest score possible for consideration.

Conclusion: If the colleges on your short list allow scores to be considered from multiple tests, you may fare better with the SAT.

One other major difference in the tests is that the ACT does not penalize students for wrong answers (a.k.a. guessing), which may take some stress off of students who have test anxiety. In either case, we suggest taking the SAT or ACT at least once as a junior so you’ll have some practice and the opportunity to improve your test scores when you re-take the exams in your senior year. Be sure you know the average test scores for incoming college freshmen at your intended schools, as well, and use the available online study tools, such as Peterson’s, to help you reach your goal. A little preparation can go a long way when it comes to doing your best on whichever college entrance exam you choose to take.

To learn more about the differences between the SAT and ACT, check out our college planning guides.

First, you have to decide what to write. Not all college admission essay questions are the same, but in general, they are meant to probe you for a deeper understanding of who you are and what you can bring to the college campus. When trying to decide between essay topics, consider how writing about each topic could possibly reveal your personality, goals and ambitions.

Next, just write. Yes, you heard me correctly – just write! Forget about formatting and the rules of writing an essay. Just let the ideas pour out freely onto the paper. No need for an outline or any formatting at this point in the process; this is simply an exercise to help you brainstorm and determine what matters to YOU.

After reviewing your free writing exercise, decide which elements stand out to you. Are there certain ideas or statements you made that are powerful or passionate? Use these to draft an outline of your essay. Be sure to support your position with real-life examples and resist the urge to simply list your achievements. Instead, show how an event or person may have made an impact on you.

For example, look at these two passages and decide which is more persuasive/powerful:

I contributed 100 hours of volunteer service with Susan G. Komen for the Cure and earned a Volunteer of the Year award for my time. I helped many people and spread awareness in my community through several educational events.

OR

As I headed to the stage to receive my award for volunteer service, I looked out at the crowd and saw the many faces of survivors who I had come to know through my work at Susan G. Komen for the Cure. I realized the plaque I was about to receive was not as meaningful as the tears I had shared with the women battling cancer or the hugs offered to children who recently lost mothers to the disease. These women have taught me that life is short and that each day is a blessing. I began my volunteer work thinking I was giving my time to help others, but it turns out I was actually receiving so much more instead.

Your essay should give the college admissions staff of readers insights into who you are and highlight things not found in your transcripts or on other parts of your application. This is your opportunity to draw people into your world and let them see why they need you at their school. Simply giving a laundry list of achievements or general statements about a topic will not help YOU stand out from the crowd.

Once you have your essay topic and outline complete, it will be time to write your first rough draft. Be sure you adequately address the essay topic question and have fully supported your position. Be sure to have a couple of other people (teachers, counselors, parents, older siblings) read your work and offer feedback. They can help spot mistakes and offer suggestions for any areas that may not flow or seem weak. Once you have the feedback, polish up your essay for a final review. Again, you’ll want to enlist a few sets of eyes to ensure there are no grammatical errors or other formatting issues (be sure to check the word count guidelines, too). The entire process may take a couple of weeks, but in the end, you’ll have an essay that really showcases your inner thoughts, character and strengths; hopefully this will get you one step closer to that acceptance letter!

Need more help with the college admission process? Be sure to visit WiseChoice.com.

1. Register for the SAT and/or ACT. I know you might have just finished taking the PSAT and the last thing you want to do is think about another college admission test right now. But this is actually a perfect time to schedule yourself for one of the spring test dates. Taking the SAT or ACT in your junior year will help you get more comfortable with the tests and identify areas where you may need some additional help. Get ready for a spring test now, and you’ll have a much easier time, and be under less pressure, in your senior year.

2. Attend a college fair or financial aid night. There are many college fairs and college workshops taking place across the country in the next several weeks. Chances are there’s a fair in your area as well. Check out your school district website for information on local fairs or look into the NACAC calendar for upcoming regional events; now’s the time to talk to college admission reps and start narrowing down the colleges on your college list.

3. Create a résumé. If you are considering a summer program, internship or job, now is a good time to gather all your information and put together your activity résumé. Some colleges even accept an activity résumé as part of the college application process, so it doesn’t hurt to have one handy that can be used for more than one purpose down the road. There are many online résumé resources and résumé templates to help get you started.

4. Meet with your high school guidance counselor. Take the time to schedule an appointment with your counselor to review your transcripts and classes for 2012. You want to be sure you are on track to meet all requirements for the colleges you are considering. Talk with your counselor about potential summer activities that may enhance your college applications, as well. Your counselor probably has a wealth of information; you just need to ask him/her to share!

5. Apply for scholarships! It’s never too early to start finding free money for college. In fact, some savvy scholarship seekers start as early as ninth grade. But, if you haven’t started your search for scholarships, now’s the time to do it. In addition to the WiseChoice Scholarship Finder, there are several good online scholarship search tools that can help.  Simply complete your personal profile and start applying. The more you do it, the better you will get. Don’t get discouraged if you don’t win scholarships right away; it can take several attempts before you fine-tune your winning strategy. The point is to apply often and keep applying throughout high school and even after you get into college.

You don’t have to spend every minute of your winter break thinking about college, but it is important to set aside some time to work on these tasks. By getting a head start on your college search, you’ll be in a much better position to decide where to apply in your senior year. Happy Holidays!