Archive for the ‘Uncategorized’ Category
Make Smarter Decisions When Paying For School with New “Know Before You Owe” Tool
Last Wednesday, the Consumer Financial Protection Bureau (CFPB) launched the next phase of its Know Before You Owe student loan project with the beta version of the Financial Aid Comparison Shopper, an interactive, online tool designed to help families plan for the costs of college.
With student loan debt crossing the $1 trillion barrier, the folks at the CFPB believe that students and families need to fully understand all the moving parts of borrowing money to pay for college before they wind up thousands of dollars in debt and without a plan for their financial future. The new online comparison tool helps students compare college costs so that they can find the one that works the best for their fiscal future.
The Financial Aid Comparison Shopper has been released to the world at the height of the college decision making process. As students sift through their acceptance letters, for a majority of them, it comes down to how they will actually pay for school; however, unfortunately, financial aid information is often filled with hard-to-understand industry terms and unique guidelines to the institution sending it. How can a family make an educated decision on college costs if it’s too complicated to understand the source material?
CFPB’s Know Before You Owe student loan project began in October by collaborating with the Department of Education on a draft Financial Aid Shopping Sheet that higher education institutions could use to present families with a uniform, easy-to-understand explanation of the total cost of post-secondary education and their options for financing it. The Financial Aid Comparison Shopper builds on that by helping students to compare the information across schools.
The beta version of the Financial Aid Comparison Shopper has more than 7,500 schools and institutions in its database, including vocational schools and community, state, and private colleges. It draws information from publicly available data provided by government statistical agencies. With the new tool, students and their families can compare the following across multiple financial aid offers:
- Estimated monthly student loan payment after graduation;
- Grant and scholarship offers;
- School-specific metrics such as graduation, retention, and federal student loan default rates; and
- Estimated debt level at graduation in relationship to the average starting salary
The Financial Aid Comparison Shopper also includes a “Military Benefit Calculator” that can estimate education benefits for servicemembers, veterans, and their families. The calculator includes military tuition assistance and Post-9/11 GI Bill benefits.
And, of course, ease the cost of college with scholarships. Find your matches today at Cappex.com
Spring ACT/SAT test dates
With spring SAT and ACT test dates here, it’s important to remember your deadlines and test dates!
While you’re sitting at home taking practice tests, going over a mountain of vocabulary cards, and trying to decide where the comma should be in a sentence, you do not want to forget the most important thing: actually signing up for the test before the registration deadline! The logic is simple here. If you don’t sign up, you can’t take the test!
Here is the breakdown for approaching test dates:
SAT
April 14 SAT
Registration for this date has passed; however, if you’re taking that test, good luck! Remember to eat a good breakfast, bring plenty of number two pencils and erasers, and show up early to the testing facility.
May 5th SAT
Registration for this test date is quickly approaching. Regular registration closes on April 6th, and late registration ends on April 20th. Remember, all deadlines expire at midnight (Eastern Standard Time) on the day of the deadline.
June 2nd SAT
Registration for this test closes on May 8th. Late registration is May 22nd.
ACT
April 14th ACT
Registration for this date has passed. Remember if you’re taking the test to arrive early and make sure you remain calm and composed.
June 9th ACT
If you are not ready to take the April 14th test, sign up for the June 9th test. To register without a late fee for the June test, you must register by May 4th at the latest.
Have you taken either test already and received your scores? With the Cappex What Are My Chances (TM) Calculator you can get a handle on what are realistic admissions options for you with those scores and help you narrow down where you should be applying. It is always important to have combinations of safety, realistic and reach schools. Utilizing Cappex along with your guidance counselor is a great way to figure out where you should be applying.
Remember, the results of your SAT/ACT tests are not the end of the world. If you do not do as well as you hoped on your first or second try, you can always take the test again! So do your practice tests, study your vocabulary words, and walk in to the test with confidence and a calm demeanor! RELAX!
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College News Roundup
Up-to-date college news from this week:
Shooting at small Oakland, CA College
Tragedy struck this week at Oikos University in Oakland, CA as a gunman opened fire on campus killing at least 7. According to the AP, the shooter, One Goh, had intended to target a female administrator. In a news conference, Alameda County Dist. Atty. Nancy O’Malle said:
“On Monday, April 2, One Goh committed crimes of such enormity and brutality that our community, our country and citizens around the world are left reeling. The scope of this murderer’s rampage is unprecedented in Alameda County.”
Students Pepper Sprayed
While protesting rising tuition costs, students at Santa Monica College were pepper sprayed by campus police earlier this week. During a board meeting, over 100 students protested outside and were subsequently pepper sprayed with over 30 students needing medical attention. Chants ranged from ”Let us in, let us in” to “No cuts, no fees, education should be free.” Santa Monica College president Chui L. Tsang was less than sympathetic to the students stating:
“Santa Monica College regrets that a group of people chose to disrupt a public meeting in an unlawful manner. The College has launched a full investigation into the matter. The College’s action comes at a time when SMC is confronted with the greatest budget crisis ever to face higher education in California.
Kentucky Wins National Championship
Led by national player of the year Anthony Davis, the University of Kentucky Wildcats won the NCAA Men’s Basketball Tournament. Their 67-59 win gave coach John Calipari his first national title and is the school’s eighth championship. Davis only shot 1 of 10 from the floor and all six of his points came from the free throw line. However, he had 15 rebounds, tied an NCAA championship game record with six blocks and added five assists and three steals.
Texting in Class
According to a US News and World Report Article texting is a huge problem in college classrooms. A study by University of Pittsburg of over 190 students showed that students read 2.6 text messages and sent 2.4 texts during one class. Author of the study Fang-Yi Flora Wei said:
“College students may believe that they are capable of performing multitasking behaviors during their classroom learning, such as listening to the lecture and texting simultaneously. But the real concern is not whether students can learn under a multitasking condition, but how well they can learn if they cannot sustain their full attention on classroom instruction.”
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The Story on Stafford Loans: What Is It & Do I Want One?
The Stafford Loan is the most popular student loan, and possibly the first loan you’ll have. For that reason, you might want to become acquainted with the seemingly invisible green that allows for most Americans to receive higher education.
Do I want a Stafford Loan?
Unless you privately have the funds to pay for college, you want a Stafford Loan. Stafford Loans are government loans with low interest rates. You don’t have to make payments on them until six months after you’ve left college and the payment plans are flexible.
Do I want subsidized or unsubsidized loans?
You want to take subsidized loans first because the government pays the interest on those while you’re in school. You are required to pay all interest on unsubsidized loans.
How do I apply for a Stafford Loan?
By filling out a FAFSA online at www.studentaid.ed.gov., your college will create an “award package” that may include Stafford Loans as well as other loans and scholarships you may be eligible for. You do not have to take all that is awarded to you in your award package; however, you will be responsible for what you do take.
How much money will I get?
There are a variety of factors that determine how much money you will be eligible for, including whether you are a dependent or independent student, your parents’ or your income, the school you’ve applied to, the date you’ve submitted your FAFSA, the amount of student loans you’ve taken out previously, and many more. Your college will determine the amount you’ll receive. While there is a maximum amount of money you can borrow from student loans, certain health professionals such as those pursuing a medical degree, can borrow more.
What do I have to sign?
Before you take out a Stafford Loan, you will be required to sign an MPN- Master Promissory Note. This is essentially a contract that outlines your loan and the amount you’ll be required to pay back with interest. By signing this document, you’re agreeing to pay your student loans, even if you drop out of college, can’t find a job in your field, or were unsatisfied with the education you received.
How do I use the loan?
Your school will use the loan money to pay for your tuition, your dorm room, and your meal plan. You may also ask the school to use it to pay for your textbooks. After several weeks, usually the second or third week of classes, you will be refunded with any amount leftover to use for school supplies and other school-related costs.
When do I pay up?
You will be given a grace period (six months after leaving college) before you’re required to make any payments on a Stafford Loan. You won’t be surprised by this bill, as you will receive in the mail several notices counting down when your first payment will be due. If you’re unable to make payments, you may have the option to defer the loan temporarily (which will accumulate interest) or adjust your payment plan.
For more ideas on how to pay for college, make your profile at www.cappex.com today!
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College News Roundup
FLOTUS to Speak at Two College Graduations
First Lady Michelle Obama will be serving as the commencement speaker for at least three college graduations this spring. However, she will not be straying far from the White House! The lucky schools are North Carolina A&T, Virginia Tech and Oregon State University.
She’ll head to neighboring Virginia on May 11th , where she will be speaking at Virginia Tech. The First Lady chose Virginia Tech due to their resilience following the awful tragedy on their campus in 2007. The next day she’ll head to historically black college North Carolina A&T. She chose A&T because the school has “been instrumental in educating generations of African-Americans.”
Finally, on June 17th, she’ll head to Oregon State University where her brother coaches the Men’s Basketball Team. The school has been recognized for their ongoing efforts to champion healthy eating. As many know this has been the main cause for First Lady Obama in her first term.
Georgia Drops College Ban From Immigration Bill
State Sen. Barry Loudermilk, R-Cassville has chosen to drop a provision from his immigration bill that would have barred undocumented immigrants from attending state colleges in Georgia. Sen. Loudermilk was unable to get the bill to the floor of the house with that language and as a result he has dropped this provision from the bill.
“There’s other provisions in there that we really need to streamline the process of identification and also security,” Loudermilk stated. “Instead of just jeopardizing all this when we didn’t have the support for the education part, I told them to pull that off if we need to and move forward with the rest of it.”
Final Four This Weekend
The Men’s NCAA Basketball tournament will come to a close this weekend as the Final Four arrives in New Orleans. The lucky schools who have made it this far all happen to be from the Midwest! This “all Midwest” Final Four features University of Kentucky, Kansas, Ohio State and Louisville. The semifinals will take place on Saturday, March 31 with the finals on Monday.
In a matchup of high profile coaches, John Calipari’s Kentucky will face off against Rick Pitino’s Louisville. Tip off for that game is at 6:09. Following the conclusion of the Kentucky/Louisville matchup, Ohio State and Kansas will square off in what is certain to be a great game. Tip off for that game is scheduled for 8:49pm.
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17 Best Public High Schools
We’re used to seeing rankings from U.S. News & World Report, but they’re usually all about colleges. Today, we’re sharing with you U.S News’s list of America’s top American high schools! These are the country’s top-performing public high schools that serve both high and low achieving students in developing basic proficiency as well as college-level readiness.
The rankings were created from a three-step process. First, they determined whether each school’s students were performing better than statistically expected for the average student in the state by looking at reading and math results for all students on each state’s high school test.
Second, they looked at whether the school’s least-advantaged students were performing better than average for similar students in the state.
This third step measured which schools produced the best college-level achievement for the highest percentages of their students by computing a “college readiness index” based on the school’s AP or IB participation rate and how well the students did on those tests.
Check out the 17 best Gold Medal public high schools:
1. Thomas Jefferson High School for Science and Technology
Alexandria, VA
100.0 College Readiness Index
3.95 Poverty-Adjusted Performance Index (a measure of the distance from statistically-expected performance using a relationship between poverty and a state performance index)
16.3 Disadvantaged Students Performance Gap (difference between the school’s disadvantaged students’ proficiency rate and the state average for similarly disadvantaged students)
2. International Academy
Bloomfield Hills, MI
100.0 College Readiness Index
2.52 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
3. Whitney High School
Cerritos, CA
100.0 College Readiness Index
2.40 Poverty-Adjusted Performance Index
49.3 Disadvantaged Students Performance Gap
4. Oxford Academy
Cypress, CA
100.0 College Readiness Index
2.56 Poverty-Adjusted Performance Index
49.3 Disadvantaged Students Performance Gap
5. The School for the Talented and Gifted (TAG Magnet)
Dallas, TX
100.0 College Readiness Index
2.88 Poverty-Adjusted Performance Index
27.8 Disadvantaged Students Performance Gap
6. Newcomers High School
Long Island City, NY
100.0 College Readiness Index
1.60 Poverty-Adjusted Performance Index
22.0 Disadvantaged Students Performance Gap
7. Pacific Collegiate School
Santa Cruz, CA
100.0 College Readiness Index
1.61 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
8. The School of Science and Engineering Magnet (SEM)
Dallas, TX
100.0 College Readiness Index
3.64 Poverty-Adjusted Performance Index
31.9 Disadvantaged Students Performance Gap
9. BASIS Tucson
Tucson, AZ
100.0 College Readiness Index
1.95 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
10. International School
Bellevue, WA
100.0 College Readiness Index
2.11 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
11. High Technology High School
Lincroft, NJ
98.9 College Readiness Index
1.00 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
12. Academic Magnet High School
North Charleston, SC
98.2 College Readiness Index
2.80 Poverty-Adjusted Performance Index
46.9 Disadvantaged Students Performance Gap
13. IDEA Academy & College Preparatory
Donna, TX
97.7 College Readiness Index
2.97 Poverty-Adjusted Performance Index
24.5 Disadvantaged Students Performance Gap
14. Pine View School
Osprey, FL
96.8 College Readiness Index
3.06 Poverty-Adjusted Performance Index
Not Available Disadvantaged Students Performance Gap
15. Design and Architecture Senior High School
Miami, FL
96.7 College Readiness Index
2.56 Poverty-Adjusted Performance Index
47.3 Disadvantaged Students Performance Gap
16. KIPP Houston High School
Houston, TX
95.7 College Readiness Index
3.81 Poverty-Adjusted Performance Index
30.3 Disadvantaged Students Performance Gap
17. Stanton College Preparatory School
Jacksonville, FL
95.6 College Readiness Index
2.51 Poverty-Adjusted Performance Index
48.1 Disadvantaged Students Performance Gap
High school students don’t generally have a say in where they go to high school, but it’s still interesting to see the rankings. You DO, however, have a choice of where you can go to college. Find your match on Cappex!
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Finding a Teacher to Write Your Recommendation Letter
An important part of your college application will be the letters of recommendation from your teachers. Each school is different – some will ask teachers to write an actual letter. Others, like those that use the Common Application, will ask the teacher to fill out a form with specific short answer questions. These won’t necessarily make or break your entrance into a certain school, but it is within your power to make sure you get the best recommendations possible. It doesn’t have to be stressful – teachers are used to writing these and will often be glad you asked.
A lot of students feel lost in this section of their application because they don’t know which teacher to ask to write their letter. It really, truly helps to make a list. A long list. A list of every teacher you have had during your high school career. Once you have created this list, go over it a few times and think about the teachers you enjoyed most. Were there any with whom you had a great connection? Are there any that stand out just by looking at this list? If there are, start with those teachers.
While having teachers that taught you in your junior and senior years is a plus, there is no reason to rule out a teacher you had as a freshman if you really clicked. If you had a teacher for more than one class or multiple years, this is a great opportunity for them to write about how you’ve grown as a student.
It’s important to remember that your teacher is not writing a letter about how smart you are or how perfect your grades were – or weren’t! They are giving the school more information about you in an academic context. Whether you are worried that your bad grades and low test scores will hurt your chances of college acceptance, or that you lack extra-cirricular activities and zest on your transcript: talk to a teacher who knows you more as a person and will vouch for your character.
It is totally valid to discuss the letter of recommendation with your chosen teacher and ask them to be honest. This is your future! You can ask, “Do you feel comfortable recommending me to this school?” If they do, great. Remind them of your application deadline! If they don’t, they will tell you. Don’t get discouraged! Ask a teacher who believes in you. You deserve it.
Here are a few more pointers from Cappex that you might want to consider when thinking about teacher recommendations!
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Free Advice: 4 Ways to Penny Pinch During College
Attending college also means paying for college. Whether you’ve got savings from your parents, are paying as you go, or recently won $2.5 million from the Powerball, you’ll have to become well versed in the art of penny pinching. Because college is expensive.
According to a recent article in the Minneapolis Star Tribune, both Augsburg College and the University of Minnesota are actively encouraging students to control their spending during their college years so they don’t have to live on less later in life. A new program called “Money Matters” will teach students who enroll how to save money and prioritize what they buy. Perhaps this new program was implemented because of Augsburg’s 5% tuition hike this year. It could also have been because students often rack up large amounts of credit card debt during college. Either way, it’s ironic to many students on campus because Augsburg is charging tuition for the course…
A large portion of the “Money Matters” course focuses on wants versus needs. What do you want and what is it that you need? While some students may need to take this course, here’s some free advice on things you may want to give up until post graduation:
Shopping Sprees. Oh, I know. Shopping is a fun, recreational and social activity that helps blow off steam after a stressful week and before a big night out with friends. Try sharing clothes instead or hosting a clothes swap party! Even if you’re shopping at cheap outlets, you’re still spending money on something you may only wear once.
Coffee. I do NOT mean GIVE UP COFFEE. As a huge coffee drinker, in good faith I cannot ask that of a college student. But, you can drink for much cheaper. Chains like Starbucks charge way more than 7-11 or McDonald’s. A small, black coffee is way cheaper than a large latte. Also, you can buy cheap, single-serving instant coffee packets to carry with you or keep in your dorm. Or get a coffee maker!
Books: Used vs. New. Buy used books. It is so simple on Ebay! Many college bookstores will also offer used books mixed in with their brand new copies. If you don’t see them, ask the staff where their used book section is located.
Cars. Public transportation is much less expensive than owning a car. Cars guzzle money through gas, insurance and any maintenance that comes up. If there is public transportation available on your campus, use it! Also, parking on a college campus can be a pain in the neck.
These are a few things you can do, but there are always moments where you can ask yourself, “Do I need this? Or do I just want this?” It’s hard to graduate with debt, so work hard now to avoid pains in the future. You’ll thank yourself!
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Student Loan Debt Now Tops $1 Trillion
Student loan debt has been in the news lately. According to the Consumer Finance Protection Burea’s student loan ombudsman Rohit Chopra, the student loan debt market is “too big to fail.” It was disclosed recently that student loans now top over $1 trillion.
According to Chopra, “Students borrowed $117 billion in federal student loans just last year. And students continue to borrow private student loans, which lack the income-based repayment and deferment options of federal student loans. If current trends continue, there will be consequences not just for young people, but for all of us.”
Another student loan issue in the news right now is the federal Stafford Loans. These subsidized student loans are set to expire this summer. If they are not renewed by congress, interest rates on those student loans will double to 6.8 percent.
Lots of schools are responding to this issue and the tough worldwide economy in different ways. Schools like Burlington College in Vermont and Mount Holyoke College in Massachusetts are freezing their tuitions. Burlington College has stated they will not raise tuition for four year and Mount Holyoke is enacting their first tuition freeze since the 1960s.
Some schools are thinking about out-of-the-box methods to entice students to attend. Ashland University in Ohio will begin to offer bachelor degrees next year that will only take 3 years to complete. Also in Ohio, Baldwin-Wallace College is starting a “Four-Year Graduation Guarantee” program. If a student who maintains a 2.0 GPA at Baldwin does not graduate in 4 years, the college will pick up the tab for the remaining tuition costs.
Schools are also finding ways to create programs that offer a combination of Bachelor and Masters degrees in only 4 years. Simmons College in Boston and Wilson College in Pennsylvania are a couple schools that are going in this direction.
Some schools are lowering credit hours required to graduate. Lipscomb University in Texas is lowering their graduation requirement from 132 credits to 126. This is the equivalent of 2 classes on average.
The student loan landscape is constantly evolving. Make sure to utilize Cappex to stay up to date on all things college.
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Friday College Town Hall
In Friday College Town Hall, we post a question about college or education, and you leave an answer in the comment field.
Today’s question comes from the National Association of Colleges Admissions Counseling:
During the Fall 2008 admission cycle, the average number of college admission offers revoked by colleges was 10. The most common reason that colleges rescinded admission offers was final grades.
While “Senioritis” is often thought of a common and even humorous condition, do these numbers change your opinion on that matte? What do high school seniors need to realize about their second semester?
Have a thought or an answer? Leave a reply below.
We’ve also asked our @Cappex Twitter followers to chime in! Here’s what people are saying on Twitter:
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