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The New Rules of Financial Aid

It's weird the way colleges decide how to award scholarships and other aid:

There's no "magic" income number.

Sure, there are a handful of exceptions, mostly from elite private colleges who claim to give full tuition to families earning 150K, 180K and even 200K.

But you have to GET INTO these elite, rarified air colleges to be in the running for the cashola.

What about the other 98% of colleges?

If you were nerdy enough (ahem) to read through the financial aid rules and regulations, websites and handbooks for college aid information, looking for an income "ceiling" or cut off number, your search would be fruitless.  Because there are 70+ other factors that go into the Double Secret Formula in addition to Adjusted Gross Income.

In our 22+ years of advising, we've had a handful clients earning more than 300K qualify for substantial amounts of need-based aid.

We've also seen those with 50K in income get zilch.

I can 'splain all that to you tomorrow afternoon.  I'm running a short ...

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How to "Print" Scholarships On Demand

Shari was thrilled for her daughter:  she got into her Dream School last week!  Her hard work in high school paid off!

A few days later, the financial aid award came.  Not good.

"They expect us to pay HOW MUCH!?" she silently screamed, so her husband wouldn't hear her.  "How am I going to tell Scott?".

I made up the names but not the scenario.   Too many families get through the college acceptance process, only to THEN -- months later -- turn their attention to how they're going to PAY for college.

Sadly, thousands of families open up their college award notices, only to be slapped in the face by the (lack of) offer.

Even sadder, this unsavory result was easily avoidable.

Thursday afternoon, I'm running a short online workshop so that you don't find yourself in this pickle next year, wondering "Where's the beef" after your son or daughter manages to get into the college they've been lusting after.  Here's a short list of what I'll be covering:

  • How to legally "hide" your money
  • ...
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College Admissions "Secrets"

"She just doesn't 'stand out.'"

"Are my extracurriculars good enough to get into an Ivy?"

"What should he be doing now?"

Common, near-daily questions we get around here in the salt mines of Lockwood College Prep. 

Good news!  

If you have a 9-11th grader and have any of these, or related questions, I've got a little somethin-somethin for you: 

A ticket to my brand new, online workshop this coming Sunday evening, The College Application Edge System.  It's free, there's nothing to buy, and you will discover how to:

  • Recognize the school that will position your child for the 40 year success goal, not merely the four
  • Interrupt the application, college essay, and extracurricular activities to stand out to the admissions committee with more than the same old, same old typical activities that everyone else does
  • Secure tens of thousands scholarships even if you think you can't possibly qualify for financial aid
  • Enjoy seeing your child flourish not just in college...but...
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Don't Be THAT Mom

Good morning!

We're hitting the airwaves this morning -- 10:00am EST --  for College Coffee Talk, our live show about college admissions and financial aid news that you can use!  

Here's the description of today's episode:

Don't Be THAT mom!  College consultants share their observations on Early Application Season, how to cope and what NOT to do :)

Tune In!

 

Grab a cup of joe and we'll see you at 10am EST (recorded if you can't make it)

- Andy Lockwood

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College Admissions' Dirty Little "Secret"

Most parents -- and kids for that matter -- make one grave, mistaken assumption about how the college admissions process works:

They think it's supposed to be "fair."

It's not.

Colleges are businesses. They have their own various and sundry agendas.  Those agendas frequently, but don't always, overlap yours and your child's.

Take, for example, last year's Supreme Court cases about the use of affirmative action in college admissions at UNC Chapel Hill and Harvard.  A chunk of Harvard's internal admissions officers' guide was entered into evidence, listing the criteria that Harvard deemed worthy of a special "tag" (boost) in the admissions process:

Underrepresented minorities, of course.  But also recruited athletes and children of alumni.

To those favored categories, I'd add international students, children of professors and staff and applicants from "feeder" high schools.

In other words, if you're not in one of these categories, it's harder to get in. That was the gist of the ar...

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College Admissions "Secrets"

I was talking to a 10th grade student last week, when he asked me this doozy of a question:

"Are my extracurriculars good enough to get into an Ivy?"

My answer:

"Nope."  (A mere glimpse into the caring, sensitive college consulting style that made me famous.)

But there's good news, I told him.  "You're only in 10th grade.  You have the luxury of time to develop "killer" extracurricular activities that will separate you from tens of thousands of competitor-applicants."

Then we got to work, planning out the remainder of his year and the balance of his high school career.

I can't go into detail of what I specifically recommended for HIM, but I can offer you something better:

A ticket to my brand spanking new, online workshop this Tuesday evening, The College Application Edge System.  It's free, there's nothing to buy, and you will discover how to:

  • Recognize the school that will position your child for the 40 year success goal, not merely the four
  • Interrupt the application...
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Surprising FAFSA Updates

Good morning!

We're moments away from hitting the airwaves this morning -- 10:00am EST --  for College Coffee Talk, our live show about college admissions and financial aid news that you can use!  

Here's what's on tap for today:

Surprising FAFSA Updates

Tune In!

 

Grab a cup of joe and we'll see you at 10am EST (recorded if you can't make it)

- Andy Lockwood

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"Hidden" Common App Tips

Good morning!

Two non-political announcements today:

1 .We're hitting the airwaves this morning -- 10:00am EST --  for College Coffee Talk, our live show about college admissions and financial aid news that you can use!  

Today's topic:  "Hidden" Common Application Tips.  Here's where to join us at 10am EST (recorded if you can't make it).

2. Tonight, our head tutor Marissa is conducting a live test prep strategies presentation, 5 Score-Killing SAT and ACT Prep Mistakes and How to Avoid Them Here's where to sign up for tonight's free class

Grab a cup of joe and we'll see you at one or both events today (each will be recorded)

- Andy "Two Times the Fun" Lockwood

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FINAL NOTICE: Financial Aid Webinar

Hey now, I'm about to go live on tonight's webinar, (partially) titled, How to Slash College Costs by 56.1%...even if you think you can't possibly qualify for anything.

Do you find that description to be as snazzy and eye-catching as I do? 

Even if you don't, I have good news, you can still come join us!  Click the pumpkin-colored button below and you'll be whisked over to the webinar dungeon...

ATTEND!

 

See you soon!.

- Count Andrew Von Lockwuud

Undead College Advisor

P.S.  Here's the short list of tonight's topics:

*The new, not improved financial aid formula and how it affects your eligibility for aid (esp. if you have more than one kid in college, own a business or are divorced/divorcing)

*How to negotiate with a college after it's so-called "final" award

*How to legally "hide" your savings from the prying eyes of the Department of Education and your college financial aid offices

*More, including your questions, 'cause we'll be live (and somehow, undead) in the chat!...

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10 Ways Families Screw Up Their College Admissions and Financial Aid Results...and how to avoid them!

Get this unusual but valuable information now -- while it's still available!