It's time to choose a college

High school seniors will soon have to make an important decision—which college to attend. In April, many colleges and universities begin sending offer letters to students who have been accepted for their incoming freshman class and have applied for financial assistance. Offer letters list the cost of tuition and fees plus the amount of financial aid available through the school.

Families looking for financial aid should consider the annual net cost of attending each school and the amount left over for the family to pay. An efficient way for you to calculate these figures is to make a chart listing the following information for each school:

(A) Estimated Total Annual Expenses

• Tuition
• Fees
• Room
• Board/meal plan
• Travel
• Estimated price of books and supplies
• Personal expenses

(B) Total Gift Aid (financial aid that does not need to be repaid)

• Grants and scholarships
• Other gift aid

(C) Net Price = A – B

(D) Estimated Total Earnings

• Work study
• Job offers

(E) Total Loan Amount (to be repaid later)

• Federal Stafford or Direct Loans
• Federal Perkins Loan
• Other college loans

(F) Estimated Cash Outflow = (C – [D + E])

While it's important to share your thoughts, realize that the decision of which college to attend is ultimately your child's. Encourage your child to consider the pros and cons of each school, including the financial considerations, the tangible factors (cost, course offerings, etc.), and the intangible factors (feelings about the school, school reputation, and social environment).

Know your financial aid offers

When your child receives offer letters from colleges, make sure both you and your child are aware of the terms of any financial aid offers. For example, in the case of federal, state and many institutional aid programs, your child is required to reapply for aid each year. And nearly every scholarship carries with it an obligation to carry a minimum course load while maintaining a minimum grade point average (GPA). It's important to read all financial aid documents carefully and understand their terms and conditions. The same goes for loans. You need to consider the terms of any loan—both the interest rate and the time when repayment begins. Make sure you and your child understand everything before signing any documents. If you have questions, ask a financial aid officer at the college.

How to handle college rejections

Rejection is never easy. We've all been rejected at some point in our lives, whether it's missing the cut for the school basketball team, being turned down for a date, or getting passed over for a job promotion.

When your child is not accepted by a college, it can be hard to deal with and move on. He or she may feel like the door to the future has just been slammed shut.

Here are some ideas to help you and your child work through and overcome the disappointment:

• Don't take it personally. Each college receives applications from hundreds or even thousands of prospective students who are competing for a limited number of spots in the freshman class. Your child may have been rejected simply because the college had many similar applicants.
• Stay positive. While it's good to acknowledge your child's feelings of rejection, it's also helpful to stay positive. Remind your child of his/her strengths and qualifications. If your child is ready for college, an acceptance letter will come.
• Misery has company. Your child is not alone. Almost every student gets at least one rejection letter from a college.
• Options are plentiful. No single college is the "be all, end all" for your child. There are thousands of two- and four-year colleges across the country from which to choose.
• Move on quickly. Instead of wasting time and energy agonizing over rejection, encourage and help your child to find another school that he or she will like as much or more.
• A blessing in disguise. If the fit didn't seem right to the admissions staff, the college may not have been a good match for your child's skills, interests and personality. The rejection may have saved your child from a disappointing experience.
• If at first you don't succeed. . . If your child is dead set on a given school, he/she can start at another school and reapply later as a transfer student.

Adult life will deliver some bumps and bruises. If your child can learn to handle rejection now, she or he will be better prepared for what awaits later in life. College rejections happen. You can be helpful in ensuring that they don't become a defining point in your child's life.

ACT test date reminder

The next nationwide ACT testing date is April 12, 2008. Regular registration runs through March 7 with a late registration deadline of March 21. Another national test date is available June 14. Create an account for online registration and test date information. Students registering online should register early to avoid heavy Web traffic and delays.

ACT offers an optional Writing Test. Find out about the Writing Test on the ACT student website, including which colleges require or recommend the test.

The website also provides test prep aids, including free sample test questions, and ACT Online Prep™, an online ACT test prep program. You'll also find test day tips, a list of items to bring to the test, and details on what types of calculators are allowed on the Math Test.

For questions about the ACT test, visit ACT's student website.

See also:

ACT's Information for Parents

The ACT

PLAN

EXPLORE

Financial Aid

College Search

Careers