2+2 Does Not Always Equal 4
The average cost of college seems to skyrocket every year with no end in sight. When the average cost for a year at a private four-year institution exceeds $42,000 and even public colleges charge almost $20,000 for in-state students, shell-shocked families start looking for sane alternatives. One classic path for students seeking to save money on a four-year degree is the 2+2, which begins at a community or junior college and ends at an institution granting Bachelor’s degrees. Our excellent local community college offers a perfect example of the standard 2+2: 2+2 Dual Admission Degree Programs are guaranteed transfer programs offered by Monroe Community College and participating four-year colleges. Students admitted to these programs will, upon completion of a prescribed sequence of courses leading to an Associate’s degree, be assured transfer with full junior-year status. Since even full-time students at community colleges often pay less than $3000 per semester and…
Scholarships Based on SAT & ACT Scores
That precious college education so many dream of and aspire to grows pricier every year, typically outstripping inflation by a considerable margin. The only good news, if you can call it that, is that very few students need to pay full retail if they know what they’re doing. We work closely with many college admissions professionals that know the secrets of negotiating excellent packages. But that process often depends on SAT and ACT scores, the higher the better. Many schools out there offer substantial merit scholarships based on both grades and tests scores, so many in fact that improving SAT & ACT scores should be a priority for every applicant. How much is at stake for students with higher scores? While even perfect test scores cannot guarantee admission to the most competitive colleges, superior SAT & ACT scores almost certainly earn merit money from most other schools. In fact, the…
Trends in College Pricing 2015
“A rising tide,” as they say, “lifts all tuitions.” Perhaps that’s not the traditional saying, but the sentiment remains as accurate this year as ever. According to the College Board, college tuition continues to outstrip inflation. Worse yet, financial aid is not keeping up with the cost increases. The College Board’s new report on Trends in College Pricing 2015 reveals a ton of informative and possibly demoralizing data on changes over time in undergraduate tuition and fees, room and board, and other college expenses, derived from the organization’s Annual Survey of Colleges. What are some of the biggest findings? Average published tuition and fees at private nonprofit four-year institutions rose by $1,122 (3.6%), from $31,283 in 2014-15 to $32,405 in 2015-16. Average total charges are $43,921. Average published tuition and fees for in‐state students in the public four‐year sector increased by $265 (2.9% before adjusting for inflation), from $9,145…
Can 529 Funds Be Used to Pay for Test Prep?
529 plans, tax advantaged investment vehicles designed to make it easier to save and pay for college or alternate post-secondary training, have been in the news lately. These plans, otherwise known as qualified tuition programs, have become somewhat popular with families all too aware of the steadily rising cost of a college education. Over the years, a number of clients have come to us requesting documentation so they could use 529 college savings plan funds to pay for their SAT & ACT prep. The practice become so common that we started telling new clients about the 529 option as a matter of course. Good thing we’re in education, not tax services! The last time a client commented to me on how excited she was about the option of using 529 college funds to pay for prep, I decided to consult an actual accountant to confirm what I thought was true.…
Average Cost of College for 2014-15
The numbers are in, but families paying for college this year won’t find much to cheer about. The College Board released the data for Average Published Undergraduate Charges by Sector, 2014-15. Are average costs increasing across the board? Let’s check the figures: — The average annual cost for public four-year institutions for in-state residents is $18,943. — The average annual cost for public four-year institutions for out-of-state residents is $32,762. — The average annual cost for private four-year institutions for in-state residents is $42,419. Shocked? If you’re still standing after absorbing those figures, take a deeper look at the data: These average annual costs combine tuition and fee with room and board, so commuters may be able to shave a few dollars off those totals. The costs listed above represent increases over last year’s costs of 3.0-3.6%. The Average Annual Rate of Inflation for 2013-14 was 1.56%. The total cost…
German Colleges Free for ALL Students?
Sprechen Sie Deutsch? Amidst the usual university rankings and discussion of the rising cost of a college education in the United States comes some fascinating news out of, believe it or not, Germany: all public universities in the Deutschland are now tuition free. Exciting, right? But before you pack your teen’s bags with the latest language learning software, consider some of the specifics of this new policy and German higher education. Slate offers a comprehensive explanation, from which we’ve distilled a few important points: 1. YES… this free tuition policy applies even to international students. 2. NO… the German college experience is not like the U.S. college experience. 3. MAYBE… students with the requisite independence and fluency may find this opportunity the path to a low-cost, high-quality college education. What do you think? Can you see your son or daughter attending college in Germany?