There is much discussion, especially with rising college tuition costs and our country's current economic situation, about preparing in advance to finance college education. There are many opportunities, including , but not limited to, education savings bonds, traditional IRAs, Coverdell Education Savings Accounts, and state prepaid 529 plans.
Another option for some families may be the Independent 529. 274 colleges/universities in 39 states are currently affiliated with the program (September 2008).
According to the plan administrators...
"Independent 529 Plan allows you to prepay tuition today that your child can later use at any member college. It provides a guarantee against tuition inflation, and the flexibility to choose from some of the nation's top colleges. Independent 529 has no start-up fees, no maintenance fees, and no annual fees-and is free from federal taxes. Independent 529 Plan operates on one simple principle: in return for prepaying college costs, member colleges carry the risk and protect you from future tuition increases. The tuition you purchase today is guaranteed to satisfy costs at the time your child enrolls. So, if you purchase a half year of tuition today, you get a half year of tuition your child can later use at any member college. You lock in that half year of tuition no matter how much tuition rises or what happens in the investment markets.
When you open your account, you purchase a certificate. Since each member college has a different current tuition rate, your certificate represents a different value at each participating college. For example, your $25,000 certificate may be worth one year of tuition at college X and 75% of one year of tuition at college Y. Once you've purchased a certificate, it must be held for a minimum of three years and redeemed within thirty years. Each time you add to your account, you will be purchasing a certificate at the current year's tuition rates."
Even for certificates purchased today, families may use those toward tuition at campuses that join the Independent 529 later. If a college that participated while tuition certificates were purchased by a family later withdrawls from the program, that campus will be obligated to honor those tuition certificates.
Important Note: Contributions to the Independent 529 plan in no way guarantees an offer of admission to any participating colleges/universities. Students must still apply for admission.
Families should always consult their professional financial planner when setting up prepaid college tuition funding accounts. The Independent 529 Plan is an option to consider as a family looks toward future higher education opportunities.
Tuesday, September 30, 2008
Monday, September 29, 2008
KC Star Article on Gap Year
A break from school may refresh a student’s mind
After graduating from St. Teresa’s Academy in 2007, Meaghann Taylor decided to defer admission to Boston College for a year. She instead headed to Germany to live with an aunt for two months in Bavaria, where she took German language classes. “It was not stressful,” she said about learning.
Somewhere around Christmas break in 2006, Meaghann Taylor felt the enthusiasm for school drain away.
“I was tense around finals,” she recalled.
Returning after break to finish her senior year at St. Teresa’s Academy, Taylor said she did not feel rested, and getting through second semester seemed “more like endurance.”
The Kansas City, North, teen was a good student. With the added heft of honors classes, Taylor held a 4.2 grade-point average. She was president of the photography club, co-editor of the literary magazine and a National Merit Scholarship finalist. She also was involved in several other school organizations and volunteered regularly at Maple Valley State School.
But she had reached the saturation level on stress: “I was burnt out on school.”
Rather than heading straight to Boston College, where she had been accepted, Taylor decided to take a year off after high school graduation.
Call it Taylor’s gap year.
“In Europe, 10 to 20 percent of high school students take a gap year,” said Steph Hart, independent college consultant with Essential Elements: Comprehensive College Planning in Kansas City, North. Hart worked with Taylor on plans for her gap year that included a deferred admission to Boston College.
The gap year trend has been gaining momentum in the United States the last five years, Hart said, and is driven this year in part by students who are setting studies aside to volunteer on presidential campaigns.
Voluntarism and community activism, along with burnout, are among the reasons students are choosing gap years. Finances, the job market, family obligations or a desire to travel also play a role in the decision.
“The gap year is not about being a slug on the couch for a year,” Hart said.
A year off should be a release from academic pressure so students can do some self-exploration and return to the classroom refreshed, renewed and ready to be educated, Hart said. High-achieving students like Taylor can benefit from a year off to rediscover the joy of learning for the sake of learning rather than for a grade.
During her gap year, Taylor spent more than two months with an aunt in Bavaria, where she took German language classes.
“It was not stressful,” said Taylor, 19. “The class wasn’t on my transcript. I took it for my own personal enrichment.”
When she returned to the Northland, Taylor landed a retail job and read every history book in the house — at least 100. Her father majored in history in college, and Taylor plans to follow in his steps.
As Taylor packed her bags for Boston College last month, she said the gap year travel and work experience had helped her mature, become more independent and learn to be more in charge of her own schedule.
Breaking during college
It isn’t just recent high school graduates who are taking breaks in their education. College students, too, often suffer from overload.
“Many students are so overextended during their college years with classes, internships, part-time or even full-time jobs as well as family obligations that they are stretched too thin to think about life after college until they get there,” said Linda Garlinger, director of career development at Missouri Western State University in St. Joseph.
Sometimes a break to decompress is all the student needs to think clearly, she said. For some, summer may be enough time to refuel before they begin a job search in the fall.
Taking time off between completing an associate degree and starting a bachelor’s degree helped Ashley Iglehart of Blue Springs focus on her education and boosted her self-esteem.
After high school graduation in 2005, Iglehart spent a year at Northwest Missouri State University and transferred those credits to Metropolitan Community College, where she earned an associate degree of arts in December 2006.
With her core classes out of the way, Iglehart then needed to decide which direction to head with her education. She chose a detour. In January 2007, Iglehart drove to Orlando, Fla., to begin an internship with Walt Disney World Resort as part of the Disney College Program. She was paid $6.67 an hour to work at the front desk of a resort for seven months.
“It was a well-needed break from pressure — I had a blast,” she said.
Iglehart paid $85 a week in rent to share an apartment with three other women and had food, gas and other living expenses. When she wasn’t working, Iglehart toured the theme parks and other places in Florida.
When she was working, “I was checking in guests from all over the world,” she said. “I learned that I was good at interacting with people.”
She also learned that she didn’t want to make $6.67 an hour for the rest of her life.
“It brought reality back into check,” she said.
In August 2007, Iglehart began taking classes online at DeVry University. She plans to graduate in February with a bachelor of science in business administration.
Gains, losses
One of the advantages of a gap year is finding out what you don’t want to do, said Nancy Silverforb, counselor at Basehor-Linwood High School.
“When you’re exposed to the world of work, you may find that a job is more dead-end than it seemed at the time,” she said.
For students who don’t have a clear idea about their future, getting a job after graduation gives them time to think about what they want to do and to save money to help finance their education, Silverforb said.
Garlinger, of Missouri Western, said she “would prefer to see someone take a gap year and be able to make a good decision rather than seeing someone who makes a bad decision and winds up a year later in the wrong place.”
Even though a gap year may mean students delay their progress by a calendar year, they may end up making clear-headed choices that lead directly to a degree without wasting time and money changing majors or schools.
The danger is that once in a job, students may be reluctant to give up steady income to go back to school or may become so comfortable that they don’t stretch themselves to try something new, Silverforb said.
Preparing for a gap year, especially if family resources are involved, is important, said Sharon Lockhart, a certified financial planner with Raymond James Financial Services Inc. in Prairie Village.
“A good relationship with parents, as well as motivation, commitment and planning, are essential for taking time off,” Lockhart said.
Racing can’t wait
As a third-generation race car driver, Zachary Goulden had the family support to explore a racing career.
So Goulden, 19, of Gladstone, decided to delay a decision about higher education after graduating from Oak Park High School in 2007.
“Right now is the age and the time to make it or break it,” said Bobby Goulden, his father. “The time to get noticed is when you’re 18 to 22 years old.”
Zachary Goulden has been racing sprint cars for three years.
“It’s a hobby that I’m wanting to turn it into a career,” Goulden said.
Hitting a wall at 120 mph and flipping his car four times at Lakeside Speedway in Kansas City, Kan., in August sent Goulden to North Kansas City Hospital with temporary vision loss and a concussion. But it didn’t deter him. Spills go with the territory.
“If you’re going to race, you’re going to blow motors, crash and spend money,” his father said.
Racing is expensive. For example, a new 410-cubic-inch engine — the largest size allowed for Goulden’s sprint car — costs about $30,000.
Goulden averages 20 to 30 hours a week working on the car or racing in addition to holding a full-time job on a receiving dock. He funds his racing through sponsorships, prize money and his job. Living at home helps cut costs.
He hasn’t ruled out college but gives himself another year of racing before making a decision.
Is he on the right track? Time will tell.
Even if he doesn’t earn a college degree, Goulden is considering taking online business classes. “All racing is about marketing,” he said.
Drivers need to be able to promote themselves, be articulate and persuade potential sponsors to support them.
What Goulden and other gap kids gain — hopefully — by not rushing directly to college after high school is maturity, self-confidence and a clearer focus on the future. Many students find they are better able to choose career or college paths that match their long-term goals.
“They seem to have a better understanding of what they want to do and where they want to be,” Garlinger said.
Filling the gap
Here is a sample of programs geared to gap kids:
Audubon Expedition Institute at Lesley College
www.lesley.edu/gsass/audubon/ gapyear.html
A program for those interested in field-based environmental education.
Center for Interim Programs
A consulting service that helps young people find gap-year programs that match their interests.
City Year
A nonprofit that brings together young people of all backgrounds for a year of full-time service as tutors, mentors and role models.
Disney College Program
Paid internships at the Disneyland Resort in Anaheim, Calif., and at Walt Disney World Resort near Orlando, Fla.
Taking Off
Service organization that helps students plan for time off to pursue interests and goals.
Where There Be Dragons
Overseas experiential educational programs in small-group settings.
World Hunger Year
Unpaid internships and other opportunities working in organizations that address food, nutrition and agriculture issues.
Assess the financials
Financial planner Sharon Lockhart recommends a contract between parents and gap kids. The contract should establish the exact terms of financial and other support provided by parents, along with the child’s responsibilities.
“Also, a timeline should be established and a date set for the contract to end,” she said.
For students taking time off without a goal in mind, parents should consider requiring the child to perform community service.
“Not only will students gain valuable work experience, but they also will be able to make wiser choices when selecting a major,” Lockhart said.
Lockhart cautioned students planning to sit out a year before enrolling in college that their status for federal financial aid may change because completing the Free Application for Federal Student Aid will also be delayed a year. “Income earned during the gap year will be credited to the student and may affect the amount of aid received,” she said.
Tuesday, September 23, 2008
College Admissions and Social Networking Sites
As a professional adult who openly admits to enjoying catching up with old friends and spending some downtime on Facebook, it is important for both students and adults alike to remember that social networking sites are by no means private. You never know who may have access to your profile information and/or your pictures...including college admission offices and potential employers. This Chicago Tribune article is a great reminder to proceed with discretion and caution when utilizing sites such as FaceBook and MySpace...especially once you have submitted an application for admission or for a new job!
Tuesday, September 23, 2008
By Emma Graves Fitzsimmons and Bonnie Miller Rubin
Chicago Tribune (MCT)
CHICAGO — Lauren Pfeiffer said she doesn't have to worry about what's on her Facebook profile, but she can't say the same about her fellow students.
"Some of my friends could get in trouble with their photos," said the junior at Andrew High School in Tinley Park, Ill. "I wouldn't want it to be a deciding factor in their future."
The idea that a lapse in cyber-judgment could alter a life trajectory might once have been dismissed as paranoia.
But with some admissions officers confirming in a new survey that they visit social-networking sites, high schoolers say getting into college is no longer only about sky-high test scores and impressive extracurricular activities. Now it means being smart about their online personas as well.
In a new survey, 10 percent of admissions officers from prestigious schools said they had peeked at sites like Facebook and MySpace to evaluate college-bound seniors. Of those using the profiles, 38 percent said it had a "negative impact" on the applicant, according to Kaplan Inc., the education services company that polled the officers.
At least one admissions officer had rescinded an offer because of an applicant's postings, the survey results showed. The survey went out to 500 schools — of which 320 responded — in July and August and promised anonymity.
The finding highlights a technological world moving so fast that neither the students nor the schools have had time to factor in all the implications. What's clear is that students have yet another potential obstacle to navigate in an increasingly fierce competition for slots in the country's top universities.
The networking sites were virtually nonexistent five years ago but now are approaching cell phone use in popularity. With few schools having formal guidelines in place, "we're in a period of figuring out this technology ... and exactly where the boundaries are going to be," said Jeff Olson, who heads research for Kaplan's test preparation division.
At the University of Notre Dame, which received 14,000 applications for 1,985 slots last year, assistant provost for enrollment Dan Saracino said he and his staff "don't go out of our way" to scrutinize students online, but sometimes they come across a candidate portraying himself or herself in a less-than-flattering light.
"It's typically inappropriate photos — like holding up a can of beer at a party," Saracino said.
In those instances, he will reach out and ask that age-old parental query: "What were you thinking?"
"We try to turn it into a teaching moment," he said. "It's an opportunity to let students know that what they put on these sites is not just between you and your friends, but you and the world."
On the other hand, using the Internet to vet someone's character seems overly intrusive to Northwestern University's Christopher Watson.
"We consider Facebook and MySpace their personal space," said the dean of undergraduate admissions. "It would feel somewhat like an invasion of privacy."
That sentiment was seconded by Ted O'Neill, dean of admissions at the University of Chicago, who was surprised by the survey's results.
"We don't have a policy not to look; we just don't look," he said. "Despite the fact that these things are semi-public ... I don't think we should be spying on things that aren't intended for us."
Even so, the findings give adults a bit of extra ammunition in urging discretion — not always the first impulse for adolescents.
Gloria Mueller, college counseling coordinator at Glenbrook South High School in Glenview, Ill, said she has been telling kids to be careful with their postings ever since she first heard that colleges, as well as and employers, were checking out Web sites. "You never know when this will come back to bite you," she said.
Sharyn Reiff of Skokie, Ill., already had "the talk" a couple of years ago with her son, Jordan, a senior at Niles North High School, that resulted in his deleting some inappropriate content.
"He loves his Facebook and he makes it funny, but he knows it has to be good, clean fun," said Reiff, whose son has his hopes pinned on Brown University or Reed College. "He also knows that there are a lot talented kids out there and he needs every advantage he can get."
Ethan Goldsmith, a senior, said he, too, already was exercising caution because New Trier Township High School has suspended students from sports teams for brandishing a beer in photos online.
Kaplan's Olson stressed that schools weren't routinely checking the sites as part of the evaluation process but were visiting only if there is was something troublesome in the application or information that needs needed to be confirmed.
With colleges expecting a record number of applications this year, the survey results should serve as a wake-up call for both students and parents, he said.
"Today's application is not just what you send ... but whatever they can Google about you," Olson said.
For Pfeiffer, thinking about her friends' photos and profanity-laden "bumper stickers" — and how easily it all could be misinterpreted — led her to this conclusion: "I will definitely be changing my privacy settings now."
(Tribune reporter Jodi S. Cohen also contributed to this report.)
(c) 2008, Chicago Tribune.
Visit the Chicago Tribune on the Internet at http://www.chicagotribune.com/
Distributed by McClatchy-Tribune Information Services.
Monday, September 15, 2008
Innovative, Fun Online Tool for College Bound Students
Innovative, Online Tool Engages High School Kids in College Search Process: What Are My Chances? Leverages Teens' Penchants for Social Networking, Competition
CampusCompare, an online resource guide for high school students and parents launches admissions tool to help with the college selection process.
Boston, MA (PRWEB) September 15, 2008 -- The newly launched "What Are My Chances?" admissions tool gives a generation of students what they've been asking for. This online game allows students to input scores from SAT to GPA, extracurricular activities and athletics. The "What Are My Chances?" calculator instantly factors the student's acceptance odds at over 2,500 U.S. colleges, returning catchy outcomes like "Slam Dunk!" vs. "As if!". Less than a week old, "What Are My Chances?" has already enticed hundreds of users to roll the academic dice and see their odds of getting into their top college choices.
CampusCompare, CampusCompare the makers of "What Are My Chances?" provides a free, online resource for college-hopefuls. With an ear to the college-bound ground, the CampusCompare team found inspiration and an opportunity to tackle one of the questions most frequently asked by students in online forums and message boards.
The tool is available from the CampusCompare website and as a Facebook application that lets users "challenge" one another in college-acceptance duels and publish fortunate (or unforgiving) outcomes to their profiles.
"CampusCompare tools are fun, designed to engage teens into using this accurate and powerful resource. The site helps teens, school counselors, and their parents find the school that's right for them by filtering through thousands of colleges and suggesting matches based on students' interests, budget, and academic record," says Senior Vice President of Development Maxine Grossman.
With the addition of "What Are My Chances?", CampusCompare continues to lighten the tone while raising the efficiency level of college selection and application. By no means guaranteeing results, "What Are My Chances?" is validated as useful by admissions advisors nationwide through surveys.
"It requires a lot of energy to keep a student focused on college admissions," says Omniac Education Executive Director and independent college consultant Mark Truman. "CampusCompare's interactive set-up grabs kids and won't let go, encouraging them to make searching for colleges fun. It's an unparalleled resource and the only one I've found that really speaks to the kids where they are -online."
About CampusCompare: CampusCompare, a division of The CompareCorp, is a free, online guide to college selection and application. The dynamic website features interactive tools and current information on over 2,500 U.S. schools. Delivering content from multiple trusted sources including the Department of Education, the colleges themselves, and real students, CampusCompare houses a unique blend of authority and personal experience.
In addition to valuable information, the website offers a private, personalized workspace where college-bound users can stay organized and categorize schools by "reach," "match," and "safety" designations while they keep track of application deadlines and campus updates.
For more information please visit CampusCompare or email Lauren Aufiero at pr@campuscompare.com
Tuesday, September 9, 2008
Junior Year: A Humorous (Reality) Perspective
I ran across this article today and LOVED it, so I, of course, wanted to share it with you. Although written in a humorous tone with homage to current reality TV shows, it speaks the truth about the importance of junior year, both for the high school experience itself and for the upcoming college search and selection process. Enjoy!
The reality of the situation … junior year of high school
By Alison H. Gluck/Guest Columnist
Tue Sep 09, 2008, 11:17 AM EDT
The stress of junior year is something known all too well to high school students nationwide. Freshmen hear about it; sophomores dread it; juniors endure it; and for seniors, it’s a recurring nightmare that just won’t go away. Although we all shudder at the thought of it, it’s reality. Junior Year Reality.
Naive underclassmen float through their worlds on the sweet winds of ignorance, worrying about such mundane challenges as freshman physics and tennis team tryouts. They hear snippets in the halls about what juniors go through and wonder why and how an entire grade can be pulling their hair out all at once. Their confusion is understandable; for those who have not yet begun to experience The Amazing Race that is junior year, the Dog Eat Dog atmosphere must seem a little disconcerting. It’s only once the halcyon days of sophomore summer end and the junior year begins that students start to understand the root of the craziness. Students will no longer wonder, as the juniors around them run for The Hills at the sound of the loudspeaker paging them to College Counseling. For juniors, there is something looming on the not-too-distant horizon … something that 11th grade requires them to acknowledge … something so frightening that the Fear Factor is at an all-time high. It’s the beginning of a journey into a place that was previously unacknowledged and unfathomable; it’s the beginning of the journey into The Real World.
It’s true. Gone is The Simple Life as we knew it. Absent are the carefree afternoons spent with friends and family. What was formerly free time is now packed solid with AP coursework, SAT preparation and the beginning of the dreaded college admissions process. We are barraged with messages about the importance of building a resume for college, some blatant, some subliminal. To be The Contender for top schools, juniors have to be on all cylinders for the entire year. It seems at times that we’re at a Boiling Point, with no end in sight. All of us work very hard to be America’s Next Top Model student, but there are no guarantees that our hard work will pay off.
Nor can we predict where we will end up — who will be successful; who will fail? Will he be The Billionaire or The Biggest Loser? Should we focus on what we love to do and hope that our passion will carry us to personal and professional happiness? Do we really have to strive to be the best, or just our personal best? Must those foodies among us have their sights on the Top Chef honor, or is being a very good cook enough? Why is our college decision The Gauntlet? Are there not other roads to happiness? Maybe I’m just Dancing with the Stars in my eyes, but it does seem to me that those who have come before us can serve as examples. They were juniors once, too. Talented juniors. Let’s face it, America’s Got Talent, and we should recognize our own personal talents and follow our dreams as well as the prescribed blueprints for success.
If we think about those people in our lives … those former juniors … whom we admire and hold out as successful, we can be guided by their choices and their journeys. They are our American Idols, aren’t they? They have endured junior year and have gone on to live happy, normal lives. Shockingly, we don’t even know which colleges they attended. If we can maintain some perspective; if we can bust the junior mystique and get through 11th grade unscathed, we will join the ranks of those who have succeeded before us. We will be seniors, those people with whom we would, today, very much like to be Trading Spaces. And it will be our job, once we’re seniors, to help the next class of juniors navigate the labyrinth of 11th grade. We should make each one of them The Apprentice, and guide their sorry souls through the paths we have already traveled. That will be our legacy.
For now, though, when all of the philosophizing is set aside and the harsh reality of junior year of high school is upon us, we have but one goal. We must tunnel our vision; we must focus on the task at hand. For whatever else we are, whatever else we may become, the Class of 2009 will emerge from junior year, and we will be what all self-respecting 11th-graders dream of being … Survivors.
Alison Gluck, a Newton resident, is now a senior at Gann Academy in Waltham. She offers her sympathy for all juniors and assures them that this, too, shall pass.
Monday, September 1, 2008
Common App
As seniors in high school are preparing to complete applications for admission, no doubt they are exploring the possibility of submitting the Common Application.
The Common App provides students the opportunity to dedicate time to one application accepted by the admission offices at 347 colleges/universities nationwide, including 34 campuses added for the 2008-2009 application cycle. Colleges/universities have no preference for the Common App versus an institutional document. However, some schools rely solely upon the Common App and no longer utilize their own version of an application. Only campuses whose admission staff have a holistic approach to the application review process are allowed to be Common App members.
When used correctly, the Common App is a true time saver for the student, the high school college counselor, and the teachers providing letters of recommendation. However, when instructions are not followed precisely, the result can be stress inducing confusion and frustration.
Once a student has created a Common App profile, freedom is offered to complete the paperwork on a personal time line, allowing revisions to be made from one day to the next. Students should be cautioned not to electronically submit the Common App until it has been fully proofed. Common App allows a student to preview the document in its entirety, which is an essential element in a successful Common App submission. Once the Common App is sent electronically to any one school, no changes may be made for other schools to which the student is applying for admission.
Although this single form is welcomed by almost 350 schools, many of those do require additional documentation, referred to as supplements. This can take the shape of another required essay, further questions about your interest in that specific college/university, alumni legacy status, etc. Some institutions even require that the supplement be submitted prior to the rest of the Common App, so again, attention to the instructions is imperative. Supplements may be found on the Common App website or on the admission office web pages of individual colleges/universities.
Like other applications for admission, the Common App is simply a form; one that should be filled out only after the student's resume and essay have been created in their entirety (please refer to previous post titled, "First Things First"). And although the Common App is meant to bring simplicity to the process, students should treat it as they would any separate application, whether online or on paper...with the utmost care and with a careful eye to detail.
PIECES OF THE COMMON APP
- student application for admission (includes essay and resume)
- supplemental information (if required)
- teacher evaluations (may submit more than one)
- secondary school report (for high school college counselor to send with official transcripts)
- mid year report (form to accompany seventh semester grade transcript)
Subscribe to:
Posts (Atom)