Westface College Planning

Cal Grants: Keys to Qualification

Westface College Planning — Thu, 16 Feb 2012 17:00:40 +0000

If you are looking into ways to finance your student’s college education, Cal Grants are a great option for those who qualify. They offer up to $12,192 per year for college expenses at any qualifying California college, university, career or technical school. Best of all, unlike student loans, Cal Grants don’t need to be repaid. To be eligible for a Cal Grant, you must:

Submit the FAFSA and verified Cal Grant GPA.
Be a U.S. citizen or eligible non-citizen.
Be a California resident when you graduated from high school.
Have a Social Security number.
Attend a qualifying California college or university.
Not have a Bachelor’s or professional degree.
Demonstrate financial need based on college costs.
Demonstrate family income and assets below the required ceilings.
Meet minimum GPA requirements.
Be enrolled at least half time, in a program leading to an undergraduate degree or certificate.
Have registered with the U.S. Selective Service (if required by law).
Not owe on a state or federal grant, or be in default on a student loan.

Stay on top of current requirements. Governor Jerry Brown has proposed changes to the minimum GPA requirements which would boost the minimum GPA for a Cal A Grant from 3.0 to 3.25, and would change the minimum GPA for a Cal B grant from 2.0 to 2.75.

You can apply for a Cal Grant as a high school senior, within one year of getting your GED, within one year after you graduate from high school or as a community college transfer student as long as you are under the age of 28.

The income and asset ceilings are adjusted annually for the cost of living. For the 2012-2013 school year the ceiling for Cal A and C grants for a family of four is $80,100; the ceiling for the same family for a Cal B grant is $42,100.

Don’t miss the deadlines! You must apply by March 2nd to be eligible for a Cal Grant, though if you plan to attend community college in the fall you may apply until September 2nd.

We can help you research Cal Grants and other college finance help; contact us with your questions.

Photo Credit: takacsi75

AP Courses: How Much is Too Much?

Westface College Planning — Thu, 09 Feb 2012 17:49:26 +0000

As colleges get increasingly competitive, students find themselves taking more and more AP (Advanced Placement) classes to gain an edge. Schools can offer up to 34 courses from Art History to Statistics for students to choose from. And why not? The rigorous classes (and a high score on the year-end exams) can boost grade point averages and translate into college credit, which sometimes means substantial savings on pricey college tuition. Students who take AP courses in high school are more likely to graduate in four years and tend to perform better in their college classes.

But is it too much of a good thing? Some of the Bay Area’s most competitive high schools are pushing for a cap on the number of AP classes a student can take, and other schools are eliminating them altogether. The argument: That there should be a limit to the amount of college-level stress a high school-age student is subjected to, as students who fill their schedules with AP courses can quickly become overwhelmed.

Parents and students who oppose a cap on AP courses are concerned that they will be at a disadvantage when it’s time to submit college applications. They argue that students with the drive and academic ability should be able to craft a demanding schedule with as many AP courses as they choose. The schools counter that they advise college admissions offices of their limits and that they take that into consideration.

We can help you navigate these and other college planning issues; contact us with your questions.

Photo Credit: Nalini Prasanna

February 2012: Mind The Gap, Your Financial Aid Package & More

Westface College Planning — Sun, 05 Feb 2012 17:23:35 +0000

Greetings!

Happy February! Now is the time to be researching private scholarships to fill the gap. Not sure what that means? Keep reading to find out and to learn 7 tips to get the best financial aid package possible.

Last night’s College Funding Workshop at North Tahoe High School was great! It was a pleasure to meet more parents of college bound students who are ready to start planning how to fund it.

Next week’s College Funding Workshop is on Tuesday night at the Redwood Shores Library. Visit www.westfacecollegeplanning.com to register and to read helpful articles, financial aid tips & tricks and more.

The college planning process is full of difficult questions and potentially expensive pitfalls. Whether your student is already in college, is a senior in high school or just starting their elementary school years, planning for college can never start too early. Give me a call at 650-587-1517 to schedule a complimentary private consultation to take the first step on the path to creating a clear college funding plan.

All the best,
Beatrice Schultz
Westface College Planning
College Funding Specialist

Featured Find: Get the Best Financial Aid Package

You’ve drawn up a list of public and private colleges that are a good fit based on everything from academics to ambiance. The price tags vary widely, but don’t automatically cross colleges off the list if they seem too expensive. Just because some schools are pricey doesn’t mean you can’t afford them.

As you prepare to make your case to colleges, experts suggest following these tips:

Get your data in order.
Contact colleges early.
Beat the deadlines.
Understand the formula being applied.
Evaluate each element of the aid package.
Be prepared to appeal.
Go right to top.

Educate yourself. Come to a Westface College Planning Workshop and read more on USNews.com.

Upcoming College Funding Workshops: Seating may be limited – Register to ensure your spot!

Did you know most families qualify for more financial aid than they ever thought possible? Our 1-hour College Funding Workshops provide steps you can take right now to assure you don’t overpay for college, that you clearly understand the process and how to maximize your aid qualification!

We hope to see you at one of these upcoming workshops:

College Funding Workshop: Tuesday, February 7, 2012 from 6:30-7:30 pm in the Community Room at Redwood Shores Library, 399 Marine Parkway, Redwood City
College Funding Workshop: Tuesday, March 6, 2012 from 6:30-7:30 pm in the Community Room at Redwood Shores Library, 399 Marine Parkway, Redwood City

Parents and students are welcome! Please visit our workshops page to register.

Senior Scoop: Steps for Students & Parents to Prepare for College

January was the month to apply for government and institutional (college) financial aid by submitting the FAFSA and CSS Profile. Most colleges will not start sending offers and financial aid award letters for a few weeks, so February is a great month to focus on applying for private scholarships.

With tuition rising faster than financial aid dollars, more students are finding gaps in their financial aid packages. The gap appears when the student’s expected family contribution (EFC) plus the school’s financial aid package don’t equal the cost of attendance. This gap appears as unmet need on a student’s financial aid award letter.

Private scholarships are one way to meet that unmet need.

There are literally thousands of scholarships from all across the country, which are available to students with a wide range of qualifications. However, locating applicable scholarship sponsors can be a very competitive and time-consuming project.

Scholarships are usually not need-based aid. In other words, the award is given mainly on the achievements of the applicants; however, financial need is taken into consideration on certain occasions.

Students should begin their scholarship search locally, contacting the following:

Clubs
Organizations
Agencies
Parent-teacher associations
Veteran’s groups
Professional organizations
Parents’ employer and/or union
Corporations
Ethnic heritage groups
Religious affiliations / Churches
Chamber of Commerce
Libraries
Yellow pages (under foundations)
American Legion Post
Businesses (human relations / resources department)
High school guidance office

After identifying and applying to qualified local scholarship sources, expand your search nationwide. The best way to search for national scholarships and fellowships is to use a personalized search, like the FastWeb scholarship search, that compares your background with a database of awards. Only those awards that fit your profile are identified as matches.

For additional ideas to fill the gap, contact Westface College Planning!

About Westface College Planning
At Westface College Planning, we are committed to helping parents through the process of making the right financial choices for their college bound students.

If you are a typical parent with college bound students, you’re probably overwhelmed by all the research necessary to help your sons and daughters make the right choices and prevent overpaying for their education.

You are not alone!

Our information packed one-hour workshops will help you:

Understand the true cost of college and how to afford it.
Learn the specific steps to take immediately to maximize financial aid.
Receive valuable information on scholarships and gift aid qualification.
Gain awareness on how to accurately compare the true cost of schools, public vs. private.
Develop best practices for school selection, and more!

More information at westfacecollegeplanning.com.

Will Your College Degree Pay Off?

Westface College Planning — Thu, 02 Feb 2012 17:37:59 +0000

With the job market in turmoil and college tuition skyrocketing, it’s understandable that many people are concerned about the marketability of their college degree, not to mention their earning potential. Payscale.com recently released a study that ranks college degrees by salary, including starting pay and mid-career pay. Not surprisingly, the top of the list is dominated by the sciences – especially engineering.

Methodology: Annual pay for Bachelors graduates without higher degrees. Typical starting graduates have 2 years of experience; mid-career have 15 years. See full methodology for more.

If you click through to Payscale.com, you can see that elementary education, social work and culinary arts are at the bottom of the list with starting and mid-career salaries 40-50% lower than the top paying careers.

Talk to your student about his or her career choice and how to decide on a major that will help them reach their goals. For example, instead of majoring in English because they’ve always loved to write, consider Communications for better job prospects. If your student is leaning toward a degree that is not as practical, urge him or her to consider it as a minor instead.

We can help with your college planning questions; contact us to learn more.

5 Steps to a Finance-Savvy Student

Westface College Planning — Thu, 26 Jan 2012 16:56:24 +0000

Heading off to college means gaining independence in several ways, and financial independence is one of the most important. Take some time to teach your student to navigate financial waters before they are on their own to avoid trouble with credit cards, overdraft fees and other tricky financial woes. Here are a few steps to take now, so you don’t have to bail your son or daughter out later.

Teach budgeting. If you deposit a semester’s worth of spending money in your student’s bank account at the start of the term without discussing ways to make it last, don’t be surprised if you get a phone call asking for more money before the semester is over. Make sure your son or daughter has a clear picture of what his or her monthly expenses will look like so there’s no shortage along the way.
Use caution with credit. College students get bombarded with credit card offers. Talk with your son or daughter about how to choose an appropriate credit card and how to use it responsibly to avoid doing damage to their credit score. Using a debit card instead, or a credit card with a low limit, can help minimize the damage caused by slip ups.
Take advantage of mistakes. There will be mistakes – we all make them – but let your student learn from them. A little bit of struggle and living on ramen noodles for a month won’t hurt your son or daughter. In fact, it may drive home the lesson that financial responsibility is important.
Let them work for it. We are all a little more careful with spending money we’ve had to earn. A part-time job – even just a few hours each week – may be all the motivation your student needs to take ownership of his or her finances.
Look online. There are a number of online resources that can help your son or daughter with money management and learning to create a budget. Check out Mint.com, MyMoney.gov or BudgetTracker.

We can advise you on many college planning issues, including teaching financial responsibility; contact us with your questions.

Photo Credit: Unhindered by Talent

Prepare Your CSS/Financial Aid PROFILE®

Westface College Planning — Thu, 19 Jan 2012 17:36:55 +0000

While the CSS PROFILE® is required for only about 20 percent of private colleges, for students applying to those schools the application can be overwhelming. Many high school guidance counselors spend most of their time preparing students for submission of the FAFSA, or Free Application for Federal Student Aid (which is required for all schools, both public and private), leaving little time to discuss the CSS PROFILE.

The CSS PROFILE form is used primarily by colleges for determining non-federal financial aid, such as institutional scholarships, grants, and loans. The CSS PROFILE is also a more detailed questionnaire than the FAFSA, focusing on information about the specific programs at schools you to which you will be applying.

Students who apply for early acceptance may need to have this essential application completed as early as October 31st of their senior year of high school, depending on each school’s deadlines, so it is essential to get a prompt start. Rushing to complete the CSS PROFILE at the last minute can lead to costly mistakes that can affect financial aid eligibility.

Start the process as soon as you know where you will be applying for financial aid, at least two weeks prior to the earliest deadline on your list of schools. You’ll need an online College Board Student Account to register on the CSS PROFILE site.

You can print out a customized worksheet to help you review the application questions ahead of time. Be prepared to answer questions about all family income and all assets (including retirement assets, home equity and small business assets) plus household expenses. There may also be additional questions required by the schools you are applying to.

We are happy to help you navigate the CSS PROFILE and other college planning issues; contact us with your questions.

Photo Credit: StudyGroupAlex

6 Tips to Stay Organized with College Applications

Westface College Planning — Thu, 12 Jan 2012 18:52:34 +0000

The college application process can be overwhelming. Different schools have varying requirements and deadlines, and it can be hard to keep track of what’s due when. Organization is essential to keep everything straight and make sure that nothing slips through the cracks. Here are 6 tips to help you stay organized.

1. Find out from the start which colleges on your list use the Common Application; you’ll avoid doing extra work.

2. Read all application instructions carefully before you do anything else to save yourself time and energy in the long run.

3. Track all of your application requirements in a master document, like a spreadsheet. Be sure to include online application user names, deadlines, test scores, recommendations, transcripts and essays. Make a note when you’ve submitted each.

4. Manage deadlines by using a calendar like Google or Outlook and set it to remind you in advance of next steps. You’ll avoid a harried scramble at the last minute!

5. Make note of each college’s financial aid requirement, including the CSS Profile, college specific forms and the FAFSA, and track them on your master document along with application requirements. Every school’s financial aid department has different deadlines and meeting them will increase your chances for help in paying for college.

6. File all of your college materials by school so you can refer to them with ease. Put a checklist at the front of each file with that school’s specific application requirements listed, and check them off as you complete them.

We’re happy to provide more information about the college application process, contact us with your questions.

Worried About the Expense of College?

Westface College Planning — Fri, 06 Jan 2012 18:51:20 +0000

College has a way of sneaking up on parents. Are you ready? Our one-hour workshops provide parents with steps they can take right now to lower the cost of college. Are you financially prepared to enter the most expensive time period of your life?

All of our workshops offer steps you can take to get started, without a sales pitch!

Here are just a few of the many things you will learn:

How to maximize your aid eligibility
How to compare public vs. private colleges
How to afford college without jeopardizing your retirement

Find out more and register to save your seat at an upcoming workshop by visiting www.westfacecollegeplanning.com/workshops. Be sure to let me know if you have any questions, too!

Prepare your Child for College Finances Now

Westface College Planning — Thu, 05 Jan 2012 17:56:12 +0000

Your child has navigated high school, taken the SATs, chosen a college and is looking forward to the newfound independence that college life offers. For most young people, college marks their first experience living on their own, with all the freedom and responsibility that comes along with it. As a parent, you know that they’ll learn much more than just academics. They’ll gain valuable life skills during their college years, including learning how to manage their finances. A little guidance now will help ensure that your child has the tools necessary to make sound financial choices along the way.

Talk to your child about budgeting. Break down what your child’s monthly living expenses will be and add a cushion for incidentals. Warn him or her about the risk of burning through all their spending money in the first month of school, leaving them broke for the remainder of the semester. Suggest an online budgeting tool, like Mint.com or MyMoney.gov, to help highlight areas of spending that they might not have been aware of – and show areas where they can cut back.

Watch out for credit cards. College students get bombarded with credit card offers. While the college years are a good time to establish credit history, it’s also easy to get into credit trouble. Different offers can be confusing, with fees and charges hidden in the fine print. Talk about making smart credit choices and make sure your child understands how quickly interest charges and late fees can add up. Look for a credit card with a low limit, or consider sticking to a debit card instead so your child can learn to use credit responsibly without doing too much damage.

Shop around for bank accounts. Banking might seem like a no-brainer, but different checking and savings accounts have varying fees. Find out if your student’s school has a credit union, or look into local banks that have special offers for students. Be cautious about overdraft fees and make sure your child understands the ramifications of overdrawing their account.

Encourage your child to contribute. Kids are often more thoughtful about spending their own money than they are about money that just magically appears in their bank account each month. A part-time job is a good idea, not just to help with finances, but to give your child a jump start on job applications when he or she graduates from college. If your child’s coursework is too demanding to allow for a part-time job during the school year, limit work to school breaks and holidays.

If you’d like some guidance on preparing your child for financial responsibility in college, contact us.

January 2012: Happy New Year! Last Minute FAFSA Tips & More

Westface College Planning — Thu, 05 Jan 2012 17:35:34 +0000

Greetings!

Happy New Year! 2012 is here. If you have a senior in high school, that means there are just a few more months until the time spent researching, filling out applications and more comes to fruition.

Can you really afford your dream school? An important step to finding out is filing your Free Application for Federal Student Aid (FAFSA). Have you gotten it in yet? Keep reading to make sure you submit it correctly, and to find out how else you might be able to pay for the school of your dreams!

We’ve also got two workshops coming up! Visit our new website (www.westfacecollegeplanning.com) to register and to read helpful articles, financial aid tips & tricks and more. Drop me an email to let me know how you like it!

All the best,
Beatrice Schultz
Westface College Planning
College Funding Specialist

Featured Find: College Affordability: How to Make it Happen

If you are considering how to make college a reality, visit any and all institutions that spark an interest, regardless of the price, and ask questions.

“Because I grew up on a farm that was lost during the farming crisis of the 1980s, I know how hard it is to dream about college when money is tight,” says Bridget Krage O’Connor, Vice President for Enrollment Management and Communications at St. Norbert College. “But I did pursue that dream and it paid off. With the help of scholarships, loans, grants, and work-study, I attended a private college. Today, I work at that same institution and help families understand that higher education should not be ruled out due to perceived cost. Financial aid is available, even if you just lost the farm.”