Making College AffordableStrategies & Tactics
www.strategiesforcollege.comCopyright © 2011Strategies For College, Inc. All rights reserved.
Sponsored byKilton Public Library
December 5, 2011
Objective Assessment of Applicant Profile
& Competitive Position
Objective Assessment of Applicant Profile
& Competitive Position
Well Thought OutFinancial Strategy
For Each College Year
Well Thought OutFinancial Strategy
For Each College Year
Family & StudentPriorities Addressed
“Best Fit”
Family & StudentPriorities Addressed
“Best Fit”Win - Win Win - Win
Strategies For College, Inc.“Integrated College Planning”
Strategies For College, Inc.“Integrated College Planning”
The Prime Objective
Affordability + Getting In + Fitting In = WIN
“The Base Year”Example: Class of 2013
• 1/1/2011 – 12/31/2011
• Sophomore into Junior year
“Set Up Year”Finalize Planning by
10/31/2011Timer starts on 1/1/2012
• 1/1/2012 – 12/31/2012
• Junior into Senior year
“Base Year”The timer is ON
• 1/1/2013– able to file for financial aid
• 8/20/2013 – student enrolls
Student Enters College
3
How The Money WorksFederal Money, College Money, Your Money
Workable Family Contribution
WFCRange of AffordabilityNo Debt vs. Max Debt
Multi-Year Strategy
Workable Family Contribution
WFCRange of AffordabilityNo Debt vs. Max Debt
Multi-Year Strategy
Expected Family Contribution
EFCCalculate & Optimize
FM & IM
Accurate Forecast
Expected Family Contribution
EFCCalculate & Optimize
FM & IM
Accurate Forecast
Rules of The SystemRules of The System
COMPAREEFC vs. WFC
Establish Financial Strategy For Each Year of College
Are There Boundary Conditions for College Search?
Establish Financial Strategy For Each Year of College
Are There Boundary Conditions for College Search?
Step 1: The Money FactorStep 1: The Money Factor
Your RulesYour Rules
Financial Need: DEFINITION
TOTAL COST OF ATTENDANCEMINUS EXPECTED FAMILY
CONTRIBUTION= FINANCIAL NEED
Need: Maximum eligibility for need based financial aid.
Expected Family Contribution (EFC)
Parent IncomeMax assessment = 47%AFTER ALLOWANCES
Student IncomeFM assessment: 50%after first $6,000IM assessment: $1,800 min, then parent rate.
Parent AssetsMax Assessment: 5.65%AFTER ALLOWANCES
Student AssetsFM assessment: 20%IM assessment: 25%
Parent Contribution + Student Contribution =
Expected Family Contribution
FM = Federal MethodologyIM = Institutional Methodology
FM vs. IM – Computational Differences
Cost of Attendance
EFC *
Financial Need**
Average % of need met with grant aid***
50% 60% 80%
Estimated Grant Aid $7,500 $15,000 $32,000
Estimated GAP $7,500 $ 10,000 $8,000
Potential Net Cost of College $17,500 $20,000 $18,000
$25,000 $35,000 $50,000
$10,000 $10,000 $10,000
$15,000 $25,000 $40,000
Sticker Prices Are DeceivingDetermine Your “Net Price”
* Remember, you need to determine whether college uses IM or FM ** Maximum eligibility for need based financial aid.
** For discussion. Does not reflect any particular institution’s statistics.
Applicant Profile & Competitive Position
Establish Quantitative Applicant Profile
Calculate College GPA Assess Curriculum StrengthHonors, AP, IB, SpecialEvaluate Standardized TestingWhat’s the Best Option? ACT ? SAT? SAT II? Optional?
Establish Quantitative Applicant Profile
Calculate College GPA Assess Curriculum StrengthHonors, AP, IB, SpecialEvaluate Standardized TestingWhat’s the Best Option? ACT ? SAT? SAT II? Optional?
Modify With Qualitative Factors
Extra Curricular ActivitiesLeadershipWork ExperienceTeacher RecommendationsDemonstrated InterestEssays
Modify With Qualitative Factors
Extra Curricular ActivitiesLeadershipWork ExperienceTeacher RecommendationsDemonstrated InterestEssays
Calculate CAP Index(College Admissions Profile)
Calculate CAP Index(College Admissions Profile)
Step Two: Competitive PositionStep Two: Competitive Position
Model College Search – Screen 1
Model College Search – Screen 2
Model College Search – Screen 3
Enrollment ManagementWhy The Top Quartile Is The Place To Be
• Optimizes enrollment through segmenting and price sensitivities.
• Shapes enrollment by allowing the college to selectively increase specific groups of students through the use of targeted aid and merit discounts.
• Maximizes net revenue by allowing the college to control its financial aid budget and net revenue outcomes.
Enrollment Management & Financial Aid LeveragingThis is how it begins: Each admitted student is “equal” financially.
Can afford 75% – 100% COA
Can afford 50% - 75% COA
Can afford 25%-50% COA
Can afford 10% - 25% of COA
Top 25%
2nd 25%
3rd 25%
4th 25%
Student
rank inadmitt
edstuden
tpool
Ability to Pay: College’s assessment of FAFSA and/or CSS Profile
A B C D
4
3
2
1
Enrollment Management & Financial Aid LeveragingThis is how it ends: College awards money to those it finds most desirable.
Can afford 75% – 100% COA
Can afford 50% - 75% COA
Can afford 25%-50% COA
Can afford 10% - 25% of COA
Top 25% Merit $$$$(If available)
Grant $$$$ Grant $$$$ Grant $$$$
2nd 25% Merit $$(If available)
Grant $$ Grant $$ Grant $$
3rd 25% Full Pay(Merit??)
Gapped - Gapped + Gapped +
4th 25% Full Pay Gapped - Gapped + Gapped +
Student
rank inadmitt
edstuden
tpool
Ability to Pay: College’s assessment of FAFSA and/or CSS Profile
A B C D
4
3
2
1
Discuss, Qualify & Quantify College Search Criteria
Best Fit Best Fit
Parent “Must Haves”Costs, Job Placement,4 Yr Grad Rate, etc.SAGE Rewards
Parent “Must Haves”Costs, Job Placement,4 Yr Grad Rate, etc.SAGE Rewards
Students PersonalityCharacteristics vs.College’s Personality
Students PersonalityCharacteristics vs.College’s Personality
Agree UponCollege Search Criteria
&Family/Student Priorities
Agree UponCollege Search Criteria
&Family/Student Priorities
Step Three: College Search CriteriaStep Three: College Search Criteria
Student “Must Haves”Size, Setting, LocationMajors, ECAs, Travel, Food, Dorms, etc.
Student “Must Haves”Size, Setting, LocationMajors, ECAs, Travel, Food, Dorms, etc.
Objective Assessment of Applicant Profile
& Competitive Position
Objective Assessment of Applicant Profile
& Competitive Position
Well Thought OutFinancial Strategy
For Each College Year
Well Thought OutFinancial Strategy
For Each College Year
Family & StudentPriorities Addressed
“Best Fit”
Family & StudentPriorities Addressed
“Best Fit”Win - Win Win - Win
Fully Integrated ApproachFully Integrated Approach
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The BeginningNow you know!
Strategies For College, Inc.Creators of College Search GamePLAN
www.strategiesforcollege.com
TODD FOTHERGILL55 Apple Blossom Dr
West Lebanon, NH 03784(603) 298-9832 NH
SPECIAL REPORT“College Planning Milestones & Guidance Notes”
Email: [email protected]
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