VCAN Conference 2011

Gear Up Meeting “Truth or Consequences”The College Admission Process Valerie Gregory, Associate Dean of Admission University of Virginia

The Myths of Financial Aid Robert A. Barrett, Undergraduate Financial Aid Administrator University of Virginia

Truth or Consequences

Common Misconceptions about the College Admission Process

College Admission

Beginning the College Search Process Academic Program Grades/ GPA Testing Supplemental Information Early Action, Early Decision, Regular Decision Deadlines

Beginning the College Search Process

Truth Consequences It is never too early to start thinking about College

Start with yourself and not the college

Build good relationships

Waiting too late may have you settling rather than selecting

Not finding a good fit for your college choice

“It Takes a Village” – get to know all who are going to be a part of the process.

Academic Program

Truth Consequences Don’t be afraid to challenging yourself.

Know your strengths and weakness to make good choices.

All years in high school counts but senior year is most important

Easy programs will give you less options and choices

If you overdo with your program, your performance may suffer.

If you slack in senior year, it may make all your previous years of hard work look weaker. .

Grades and GPA

Truth Consequences

It may not always be about the 4.0 as much as the challenge. Most colleges will use the schools grading process for the evaluation while only a few will recalculate.

Grades in core classes are most important

You could have great grades and a poor program which may limit your options and choices.

Not understanding what your grades mean may give you false sense of security.

If grades in your elective classes are your best, they may not carry your overall GPA.

Testing

Truth Consequences SATs or ACTs – Colleges really do not have a preference

Testing rarely automatically select you of the consideration process

Find the right test for you and stick with it.

Self – Selection may cost you the opportunity to not attend the college of your choice.

Supplemental Information

ORecommendations OEssays OExtra Curricular Activities

OCommunity ServiceOAddendum

Supplemental Information

Truth Consequences Recommendations should help not hurt; Choose your people carefully.

Essays can make a difference; it is your voice so use it.

Standard or template recommendations will not enhance your application.

The college does not get to know you as a person and what you might bring to their campus.

.

Supplemental Information

Truth Consequences Extra curricular activities will never substitute for academics.

Your activities are more about what you are passionate about than the long list.

Being overly involved could hurt your class performance and sacrifice your admission.

The long list of activities for which you give little time to will make this less important to the process.

.

Supplemental Information

Truth Consequences Community services only means something if you are sincere about it.

If there is anything you want to share but are not able, feel free to send and addendum.

Being overly involved could hurt your class performance and sacrifice your admission.

If colleges do not have the whole picture, they will only make assumptions.

.

Which decision is right for you?

Truth Consequences There is rarely an advantage to applying early in the decision making process.

Make sure you understand -the commitments may be different from school to school – so ask.

It might be more advantageous to apply regular to get more information.

You may find yourself committed to a school that might not be where you want to be.

.

DEADLINES

Truth Consequences

Keep your deadlines straight. Now more and more colleges are holding steadfast with deadlines.

You miss out! – Now you will not have the opportunity to be considered for these colleges. .

Questions?

The Myths of Financial

AidTen common misconceptions, fallacies and illusions about

applying for and receiving money to pay for college

Myth #1

My award is guaranteed for

four years.

Truth

For Federal aid, students are required to apply for financial aid every year.

Truth

Changes in family circumstances may cause

differences in the aid awarded from year to

year.

Myth #2

Good grades mean good grants.

Truth

Some schools offer merit-based aid. Others award

aid based on financial need.

Need-based vs. Non Need-based Aid

Need-BasedNon Need-

Based

Federal & State Grants

Federal Work Study Perkins Loan Direct Subsidized

Loan

Some Institutional Scholarships

Many Private Scholarships

Direct Unsubsidized Loan

Parent PLUS Loan

Myth #3

Only low-income students receive

financial aid.

TruthSchools award packages that consist of various

components. This helps to reach the need of families of different

levels of income.

The Basic Need Formula

Cost of Attendance

˗ Expected Family

Contribution

Demonstrated Need

Cost of Attendance Tuition Fees Room Board Books, Supplies, Personal Expenses Study Abroad Costs Dependent Care Expenses

Cost of Attendance

No school can award a student in excess of his or her COA. If a student is in a special circumstance that merits an increase in financial aid, the school may make an adjustment to the student’s budget.

Expected Family Contribution

Methodology for dependent students takes into consideration income and assets of students and their parents.

Formulas incorporate allowances to offset total amounts reported.

The assumption is that families will contribute to the extent that they are able—not to the extent that they are willing!

Myth #4

Going to college isn’t worth the

cost.

Is it worth it?

Is it worth it?

Individuals with higher levels of education are more likely to be very satisfied with their jobs.

Those with higher education levels are also more likely to volunteer (and for more hours on average), be offered pension plans, and vote.

Smoking rates and obesity are lower among college graduates compared with other adults.

Exercise levels tend to be higher among individuals with degrees.

(See trends.collegeboard.org for more information.)

Myth #5

Financial aid applications are too

hard and it’s impossible to get help.

TruthSources of help include The Institution’s Financial Aid

Administrator (FAA) “Help Desk” contact information available

on the application’s website Help and hint tools built into the

applications

1-800-4-FED-AID

Myth #6

I shouldn’t accept any loans that I’m offered because debt is bad.

TruthInterest on Federal

student loans is typically pretty low. Subsidized loans do not accrue

interest while the student is enrolled in school.

TruthMost loans can be deferred altogether while the student is in school, and there may be a grace period after the student leaves, before he or she must begin repayment.

Truth

Students can contact their lenders to explore

and arrange flexible repayment programs.

Myth #7

If I accept work study, I will be offered less in

financial aid next year.

TruthWhen a student

reports her income in subsequent

years, work study earnings are excluded as

income.

Myth #8

Receiving outside

scholarships will hurt me.

TruthNot necessarily. In many cases, depending on how

a school meets need, outside awards may just replace need-based loans

or work study.

Myth #9

My parents aren’t going to help me, so I’ll just apply with my own

information.

TruthFor financial aid purposes,

students are considered dependent on their parents

unless they meet very specific criteria set by the Department of Education.

TruthIf a parent just does

not want to give their information, that alone will not allow a student to file as independent.

How, then, could a student be considered independent?

Examples include if the student:

is born before a certain date is married is on active duty is a veteran is a graduate student is or was an emancipated minor is or was in legal guardianship

Can the status be overridden?

Under certain exceptional circumstances, a school may use

professional judgment to override a student’s dependent status and allow him to file as independent. These cases are

very rare and involve substantial documentation.

Myth #10

I’ll be the only student receiving financial aid.

Truth

Financial aid comes in all shapes and sizes.

Truth Federal Grants

State Grants

Institutional Merit

Scholarships

Direct Loans

Parent Loans

Private Scholarships

Federal Work Study

Graduate

Assistantships

Teaching

Fellowships

Private Loans

Truth

Type of Undergraduate Student

Percentage Receiving Aid

Full-time/Full-year 79.5%

Dependent 77.1%

Independent 86.9%

Part-time or part-year 56.6%

Source: U.S. Department of Education, National Center for Education Statistics. (2009).For more information, visit nces.ed.gov.

Percentage of undergraduates receiving financial aid (grants, loans,

work study, VA benefits) during the 2007-2008 academic year

One More Truth…

“Education costs money, but then so does

ignorance.”-Sir Claus Moser

Educator and statistician

Questions?

Many Thanks! Valerie Gregory

<deangregory@virginia.edu>

Robert Barrett <rab2fd@virginia.edu>