Olson developed his skills in high school, under Coach Peterson at Orange Lutheran High School. Having lost one eye as an infant and the second at age 12 to retinoblastoma, Olson learned to live without sight, and became passionate about playing football in high school. He works with his teammates to know when and where to snap, and is so consistently good that he attends USC on an athletic scholarship for students with physical disabilities.
May Olson be a more regular presence on the field during his Junior and Senior years. He is a living example of abilities that defy the stereotypical physical expectations. His high school coaches and teammates embraced including him on their team, and Olson served as their regular long snapper. It opened the opportunity to play for USC, to receive an athletic scholarship, and to teach us how much ability and hard work can accomplish in an inclusive world.
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A recent column in the New York Times rubbed me the wrong way. Entitled "Navigating Our Shameful, Maddeningly Complex Student Aid System," author Ron Lieber excoriates the entire monetary structure of college costs, financial aid, and the process of securing an affordable college experience. He recommends that "If you have a child who is already walking and talking and you will not be able to write a check to pay tuition, it’s best to start studying up on it now or finding a political candidate to support who will blow it all up." I disagree with his conclusion, and believe that determining where to go for college and figuring out how to pay for it can be an extremely insightful and satisfying process.In all fairness, Ron Lieber's lens "is about anything and everything that hits you in the wallet, from investing to paying for college to mortgages and homes." In contrast, my lens is focused on your child: who they are now, what they have done and experienced, what are their passions, and how they would best be equipped to explore and develop their true vocation. When we look at the college search from this perspective, and rigorously evaluate potential colleges with high standards for their ability to develop our children through the next stage, things fall in to place rather quickly.When you look at colleges from an economist's perspective, you quickly reduce your student and all colleges to simple commodities. In contrast, the truth is that your student is unique, and that colleges vary in their abilities to meet your student where they are and to challenge them to develop into who they can be. When it comes to your student, colleges are not interchangeable; where your child decides to spend their college year will have an impact on how fully they take advantage of this time in their life.Mr Lieber writes: "...colleges will offer discounts ...if the school feels it needs to raise the quality of its freshman class in order to appear more attractive to future applicants who can (the hope is) afford to pay more." Intending to condemn the colleges for this process, this statement misses the opportunity for the student who really figures themselves out. A college that is well equipped to help a student meet their objectives will naturally be more inclined to make sure that these students have the financial support necessary to attend.When students understand who they are, what they have accomplished so far, and what excites them about the future, they become able to recognize when the college seems to have been built just for them. These colleges have invested in the arts, athletics, academic disciplines in ways that form "a vibe" that works for the student. The students at these colleges are already engaged in activities and academics that create a learning and social environment that will just feel "right" to your student.It's easy to believe that only students whose families can afford the college experience have the luxury to demand that their college 'fit.' But the opposite is true: students whose families cannot afford the sticker price may only be able to afford to attend the "right" college. Colleges need students that reinforce "the vibe" (a.k.a. "the brand") as much as students need colleges that can fulfill their expressive, social, and academic development over the course of their college career. Because colleges need students who reinforce "the vibe," the college that is "right" will have more incentive to make sure that you can afford to attend (vs. the college that does not have the activities and programs to fully develop your gifts).Students who are willing to engage in my process of self-discernment, and discerning how well a college "fits," are rewarded with college acceptances with significant scholarships. In my experience, the colleges that "fit" well generally offer scholarships of $20K or more, usually awarded concurrently with admission. Additional dollars are often available; the need-based dollars are secured through completing your FAFSA application, and discussion with the college admission and financial aid office can secure additional funds. In contrast, colleges that are poor fits will offer lower (or no) scholarship dollars, basically signalling that you are welcome as long as you pay cash.It is all about "fit." A college that recognizes the "fit" that you identify (and describe) will reward that "fit" with more scholarship money than the college that sees no particular "fit." Those same college that recognize the "fit" will be more excited about helping you afford attending that particular college.Good luck with your college search! I am available to provide individualized college search services. Just contact me to get started.Hold the phone! The New York Times reports that the IRS data retrieval tool has not been functioning since March 3. The IRS data retrieval tool allows the FAFSA system to electronically pull the tax information that it needs to calculate your federal financial aid and the family contribution to your student's college education. When all goes well, you just click a button on the FAFSA system and you're done. Well, that's the plan.
Parents who try to determine how much college will cost often are confused by the guidance they find. They find college cost calculators on each college web site. They fill out the FAFSA and get a report. Those that dig further find cost estimates on the College Scorecard, the College Navigator, and a plethora of private sites. What are the differences between the college calculators and FAFSA? What can you rely on?In an earlier post, I explained how federal laws govern affect information about college financial aid. The laws tell us that there are certain responsibilities that the government, and that colleges have to create "transparency" in understanding how much college will cost. Let's look at those responsibilities.Section 1015a (h)(3) says that any institution "that receives Federal funds ... shall make publicly available on the institution's website a net price calculator to help current and prospective students, families, and other consumers estimate a student's individual net price at such institution of higher education." This calculator may be the calculator that the government developed, or it could be one developed by anyone as long as it uses the same data elements as the government-developed calculator. This calculator is required to be individually tailored to the student's circumstances, so it should take into account information such as the actual family income and assets. You would be reasonable to believe that you can rely on the number calculated, right?Not exactly. Because the very next section requires institutions to clearly state: |
What could be simpler than determining if you can afford to pay for four years of college? | |
| |
Many players can be involved with paying for college (in addition to mom and dad and the student): the federal government, the state government, the college, and various scholarship providers (really nice people and organizations who are looking for students to help out through college).
Now, whenever governments are involved, legislation and governmental agencies get involved. And things that cost a lot of money tend to attract the attention of regulators looking to protect consumers from predatory practices. So in this posting, I focus on federal legislation regarding Higher Education in a section of law entitled “Transparency in college tuition fees for consumers.” (CFR title 20:Education, § 28: Higher Education Resources and Student Assistance-Sec 1015a.
It is important for you to be able to make informed decisions about college. After the questions of how well the college fits your student academically and culturally, the next important question is how you will pay for college. The “Transparency in college tuition fees for consumers” law helps by requiring every college to provide the following information for inclusion on the government’s College Navigator website:
1. The institutional mission statement.
2. Academic information about students accepted by the institution.
3. Student demographics, including where students come from; diversity in terms of race, ethnicity, and disability.
4. Rates of successful degree completion by incoming freshmen; faculty and academic statistics.
5. Cost of attendance; average net price by income brackets after deducting average grant and loan awards.
6. Campus safety reports.
7. Link to the institutional website where students can additionally find information about student activities, disabilities services, placement services, transfer credit policies, and alternate tuition payment plans if available.
8. Link to reports if the institution has unusually large increases in tuition and fee or in the total cost of attendance.
Why does all this matter? It matters because you need to know what information you can use to help guide your college search and decision=making. It helps because college is incredibly expensive, and most consumers don't know that much about what goes into running a college and what makes a college the right one for them. How to understand the information will be the subjects of future posts.
But back to what will college cost. Most students don't pay the college "sticker price," by accessing grants and loans offered by the federal and state governments, as well as from private parties. Accessing federal grants and requires filing a FAFSA. What’s a FAFSA and how does it work? That’s the subject of my next post.
With a published "sticker price" of $63,025 per year, how can it be possible that Harvard can be so very affordable? It's because Harvard is "committed to meeting 100 percent of demonstrated financial need for all four years ....about 60 percent receive need–based scholarships and pay an average of $12,000 per year. Twenty percent of parents pay nothing. No loans required."
Harvard admits students based on the merits of their application; in other words, whether you are able to afford the "sticker price" is not part of determining whether you will be offered a spot in their next freshman class. Once you are admitted, their financial aid officers work to ensure that money is not an obstacle to accepting a spot in their freshman class. Depending on your family's finances, you may only be asked to contribute "between zero and ten percent of family income."
Harvard's web site states that families with less than $65K in family income are not expected to contribute towards the student's educational costs. Families with incomes of up to $150K will contribute up to 10% of their income, and families above $150 will be asked to contribute more than 10%. So if your family earns the median national income of $55,775, the family will not be expected to pay anything for tuition.
However, that doesn't mean that Harvard is free: the student is expected to contribute toward the cost of attendance. In other words, you are expected to work a reasonable amount of time to be able to contribute toward your cost of attendance. Also, if you have assets in educational or other accounts, you will be expected to use those to help cover costs. The College Scorecard record for Harvard reflects this reality: students whose familiers earn less than $75K per year can expect their cost of attending Harvard to be $6300 or less. |
There is still the detail of being accepted into Harvard University. The College Scorecard reports that the students who are admitted and enrolled at Harvard typically have SAT scores of 700+ in each section, and ACT scores of 32+.
But these numbers are NOT a minimum requirement. Harvard provides a summary of what they look for in reviewing an application from prospective students: "students who will be the best educators of one another and their professors—individuals who will inspire those around them during their College years and beyond." Harvard also provides a little advice about how you might want to go about selecting courses throughout high school to best prepare yourself for college applications. While they provide guidelines for academic coursework, the admissions department does consider other student attributes to make their determinations.
So, if you hope to be able to choose a Harvard education for your future, don't worry about money. Focus on doing your best in your coursework, developing your interests and talents, get involved with your community, and otherwise live an interesting life. Whether or not you end up attending Harvard University, you will have built up your academic credentials to attend a terrific college that will help you develop into your best self. Because Harvard is not the only college determined to make your college education affordable. I'll write about some of those other colleges in future posts.
But these numbers are NOT a minimum requirement. Harvard provides a summary of what they look for in reviewing an application from prospective students: "students who will be the best educators of one another and their professors—individuals who will inspire those around them during their College years and beyond." Harvard also provides a little advice about how you might want to go about selecting courses throughout high school to best prepare yourself for college applications. While they provide guidelines for academic coursework, the admissions department does consider other student attributes to make their determinations.
So, if you hope to be able to choose a Harvard education for your future, don't worry about money. Focus on doing your best in your coursework, developing your interests and talents, get involved with your community, and otherwise live an interesting life. Whether or not you end up attending Harvard University, you will have built up your academic credentials to attend a terrific college that will help you develop into your best self. Because Harvard is not the only college determined to make your college education affordable. I'll write about some of those other colleges in future posts.
Students and their parents frequently start our discussion with their most urgent question: how much will "it" cost. They beg me to keep expectations realistic, and to cut colleges that are "too expensive" off their list.
I require everyone to ignore price until later. By all means, I am happy to engage in discussions about how much cash a family can afford. Normally, that is a fairly short discussion a few of my clients can easily write a check for the full "sticker price" of any college; but most of us mere mortals can afford much less than the $20,000 - $65,000 per year that most four-year colleges list as their "sticker price." Indeed, $65K is more than the 2015 United States median household income of $55,775.
I can feel your eyeballs popping out of your head. Few families have $20,000 to spare for every year that their student goes to college. But before you spend a lot of effort figuring out how you might possibly beg, borrow, or steal $80,000 - $260,000 for each of your children to attend college, give me a chance to assure you that such effort is unnecessary. Because your most affordable option may be the college with the highest sticker price. | My research shows that, for a family earning the median household income of $55, 575, attending an Ivy League college would be less expensive than a year at community college. |
There is an incredible online resource for families to get a sense of how much college may cost: The College Scorecard. You should see it for yourself. Here's how:
- Do a name search for "Harvard University"
- Click on the + to open the section detailing Costs
- Look at the average cost by family income. For families earning the median $55,575 per year, the average annual cost of attendance is $6,310 per year.
- Do a name search for your local community college (in my case, it is "Harper College".
- Click on the + to open the section detailing Costs
- Look at the average cost by family income. At my local community college, for families earning the median $55,575 per year, the average annual cost of attendance is $10,107 per year.
How does that work? Stay tuned for a future post.
Before you read any further, you need to know that there is no reason for every student to test drive every college. Summers are well spent with family, friends, community, and hobbies. However, sometimes a student is really interested in tasting college. This posting is about the programs that can provide that taste.
A student of mine is extremely interested in a college program for which he fears he may lack the qualifications. Not that he doesn't think he would be awesome, but that his numbers may not strongly support being awarded admission to the class of 2021.
I agree that the student is a terrific fit on many dimensions: academic subject focus, engaged learning style, and inquisitive nature. I also agree that he may need some additional personal experiences in order to better articulate why this university should include him on their list of acceptances. AND he is chomping at the bit to get his foot in the door and starting his life as a scholar.
I agree that the student is a terrific fit on many dimensions: academic subject focus, engaged learning style, and inquisitive nature. I also agree that he may need some additional personal experiences in order to better articulate why this university should include him on their list of acceptances. AND he is chomping at the bit to get his foot in the door and starting his life as a scholar.
So, how to get there? My student actually suggested it himself. Upon finding information about an immersive university institute program involving a year long journey of study and participation in the Iowa caucuses, he forwarded a link to the program page along with this comment:
"Wow, what a cool program! Just another reason to apply to [University X]. Do you know about any programs like this for HS students? I’d love to do some kind of program like this over the summer maybe." Is there something like that?
Why yes, yes there is.
"Wow, what a cool program! Just another reason to apply to [University X]. Do you know about any programs like this for HS students? I’d love to do some kind of program like this over the summer maybe." Is there something like that?
Why yes, yes there is.
There are several remarkable universities that provide summer studies programs for high school students. Our particular university has a program that truly provides a taste of the actual university environment that awaits for them as college students. After evaluating the offerings at the university, I recommended that he participate in a specific class that would let him get his feet wet in the field of his choice.
These programs are usually not cheap. You are often receiving a transcript from the University, so be prepared for a bill equal to one full semester class. Scholarships and financial aid are available for some programs, but if you comfortably bear the cost of a travel sports league or some similar cost, you should start saving up. I've seen pricing generally in the range of $3000 to $4000, but I have also seen program costs at $8000 and up.
These programs are usually not cheap. You are often receiving a transcript from the University, so be prepared for a bill equal to one full semester class. Scholarships and financial aid are available for some programs, but if you comfortably bear the cost of a travel sports league or some similar cost, you should start saving up. I've seen pricing generally in the range of $3000 to $4000, but I have also seen program costs at $8000 and up.
Here are some of the characteristics of a program that meet the objectives of getting a taste of your target college:
Other programs may certainly be worthwhile, but if you are seeking an opportunity that allows you to test drive your fit with the University, this is what your are looking for.
Here is a quick list of what you are NOT looking for:
- The program is run by the University, not outsourced to an external entity.
- Courses are taught in the regular college facilities.
- Courses are taught by regular university faculty.
- Course syllabus is available no later than the first day of class; ideally, you will be able to review the syllabus before you even sign up
- Some or all courses can be taken for full course credit alongside college students, and result in an official transcript meeting offered at the close of the program.
Other programs may certainly be worthwhile, but if you are seeking an opportunity that allows you to test drive your fit with the University, this is what your are looking for.
Here is a quick list of what you are NOT looking for:
- College application coaching
- Standardized Test coaching
- Theme camps run by parties that are not the college
A list of a few university summer high school programs that seem to fit the bill are listed below. Other than personally being an alumnus of the University of Chicago, I have no relationship with any of these institutions; I have no business relationship with any of these schools. I do not guarantee the quality of any of these programs, I simply list them to help you get started with your research. You make the final decision on whether any of these programs fit your needs. Good luck on your adventure!
- Boston University
- Brown University
- Cornell University
- Columbia University
- Duke University
- Emory University
- Georgetown University
- Harvard University
- New York University
- Northwestern University
- Oxford & Cambridge Summer Academy
- Stanford University
- Syracuse University
- University of California at Berkeley
- University of California at Los Angeles
- University of Chicago
- University of Pennsylvania
- Yale University
Paper. Who uses paper? You're part of the digital millennium!
While you can and need to do many things online, sometimes you need to print something out. Here's a little life hack to deal with those situations, especially when you are away from home or school:
Barrington Area Library Print Services. I suggest you do a Google search for the closest local library and hunt around their web site to find their printer services. or call them... librarians are notoriously capable and helpful.
2. Find a local print/copy store... many, including FedEx, Staples, and Office Max even have web sites or apps you can use to upload your jobs so that they are waiting for you when you arrive.
Good luck!
While you can and need to do many things online, sometimes you need to print something out. Here's a little life hack to deal with those situations, especially when you are away from home or school:
Barrington Area Library Print Services. I suggest you do a Google search for the closest local library and hunt around their web site to find their printer services. or call them... librarians are notoriously capable and helpful.
2. Find a local print/copy store... many, including FedEx, Staples, and Office Max even have web sites or apps you can use to upload your jobs so that they are waiting for you when you arrive.
Good luck!
Dear Friends,
The CFPB is a government bureau established to protect consumers from predatory credit practices. They are looking to speak with students who have been recruited by for-profit colleges with offers that include student loan packages. Below is the information about how to participate in this study. Please consider sharing your experiences to help the CFPB ascertain whether additional protections are needed for students!
*************
The Consumer Financial Protection Bureau (CFPB), an independent government agency, is looking to speak with students at for-profit colleges or universities to better understand their experiences around the financial aid and student loan process.
For-profit schools include colleges like ITT Tech, the University of Phoenix, and The Art Institutes. If you’re unsure whether your school is classified as “for-profit,” please check this list of for-profit institutions. https://en.m.wikipedia.org/wiki/List_of_for-profit_universities_and_colleges
We’d love to speak with you if you fit the following criteria:
● You’ve enrolled in a for-profit school in the past 12 months or you plan to enroll in a for-profit school in the next three months
● And you were offered financial aid from your school
Our 45-minute interviews can be scheduled in person (in select cities) or through a video chat.
If you are interested in helping by sharing your experiences, please e-mail natalie.kurz@cfpb.gov with the following information:
● Your name
● What school you are attending or plan to attend
We’ll get back to you to schedule a convenient time to talk.
Thank you in advance for your help!
About Us
The Consumer Financial Protection Bureau (CFPB) is an independent government agency that makes sure the banks and other financial service providers you depend on operate fairly. We also help educate consumers about financial products and services to ensure you have the information you need to make informed decisions.
The CFPB is a government bureau established to protect consumers from predatory credit practices. They are looking to speak with students who have been recruited by for-profit colleges with offers that include student loan packages. Below is the information about how to participate in this study. Please consider sharing your experiences to help the CFPB ascertain whether additional protections are needed for students!
*************
The Consumer Financial Protection Bureau (CFPB), an independent government agency, is looking to speak with students at for-profit colleges or universities to better understand their experiences around the financial aid and student loan process.
For-profit schools include colleges like ITT Tech, the University of Phoenix, and The Art Institutes. If you’re unsure whether your school is classified as “for-profit,” please check this list of for-profit institutions. https://en.m.wikipedia.org/wiki/List_of_for-profit_universities_and_colleges
We’d love to speak with you if you fit the following criteria:
● You’ve enrolled in a for-profit school in the past 12 months or you plan to enroll in a for-profit school in the next three months
● And you were offered financial aid from your school
Our 45-minute interviews can be scheduled in person (in select cities) or through a video chat.
If you are interested in helping by sharing your experiences, please e-mail natalie.kurz@cfpb.gov with the following information:
● Your name
● What school you are attending or plan to attend
We’ll get back to you to schedule a convenient time to talk.
Thank you in advance for your help!
About Us
The Consumer Financial Protection Bureau (CFPB) is an independent government agency that makes sure the banks and other financial service providers you depend on operate fairly. We also help educate consumers about financial products and services to ensure you have the information you need to make informed decisions.
Author
Shepherding our children to adulthood demands our love, our attention, and our acceptance of who they are.
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