Congratulations to the graduating Class of 2021
To the students and the parents of the graduating class of 2021, wow. kindergarten, elementary, middle, high school, college, graduate school. Wow. In all of my 35+ years in education, never has there been a year. Congratulation!
Now, no sliding during the summer. Put your relentless determination, newfound savviness, and ability to pivot to work, and take your next step. Parents and students use the month of June to recharge and refuel but do not let up on the gas.
Whether your classroom is moving up, changing schools, grade level, pursuing graduate school, internship, apprenticeship, licensing, or joining the workforce, take the bull by the horns (little ones not a good idea) and champion forward. We are here to help and have your back!!
Summer Doesn’t Take a Break
The pandemic has changed the college admission and financial aid landscape for the foreseeable future. If you’re a rising senior you have time and opportunity. This summer is going to be key to recovering and taking advantage of missed opportunities. The campus is opening for tours, information sessions, and meeting with college admissions and financial aid departments. Learn, explore, ask questions, and prep for the Fall. Need answers and insight – call us, schedule an appointment. We do not pitch until you say help!
Still, Thinking About College?
Opportunities await even now for September 2021 enrollment. The pandemic caused many students and families to pause during the school year to question what’s next—a good pause for many. This past year, we have learned a lot, including that we need to celebrate and support multiple pathways education and careers.
If you are now ready to go in September, over 150 colleges, universities, and Community Colleges in MA and New England are waiting to hear from you. If an internship, apprenticeship, licensing program, or skilled professional program suits you, then go for it. Turn to your resources at NSCC, NECC, No Shore Career Center, and the vast network that makes up the Route One BNG family.
Preparing to Pay – September College Tuition Bill
It will be in the mailbox, your student’s email or the college portal, the September tuition bill. Arriving as early as July, the bill, once resolved, is the pathway to key swipe card) for dorm rooms, access to the dining halls, and campus life activities. Yes, academic classes too. Finalizing financing options should be done sooner than later. Investigate all options, including a school’s Monthly Payment Plan, use of savings (529 plans), scholarships, and personal financing resources (home equity). If, in the end, a private education loan is the only option, borrow conservatively, and remember, a loan must be repaid.
No Break from Campus Tours
Parents of high school sophomores and juniors, no, no. The pandemic has left many slightly behind or not even engaged. In-person campus tours, information sessions, and 1-1 interviews are back! Students and families will need to map their thoughts on where to visit by the strength of the college list, who’s hot or not. The pandemic has changed the rules, many that will continue into the 2021-2022 college year. Don’t lose the benefits of the summer months!
Repaying Education Loan and Employee Assistance Programs
Changes during the pandemic placed a hold on the repayment of Federal Student Loans, which tentatively ends on September 30, 2021. It is unclear what, if anything, the Administration or Congress will do, but those whose loans were frozen should begin to factor the return of their monthly payment into the budget. Education loan refinancing and modified repayment may be an option if there is a continued financial strain on the family budget.
The use of employer-sponsored education reimbursement benefits also experienced changes with the introduction of expanded services—benefits, including assisting with education loan debt.
Power of Saving
Financial aid is available for those who qualify—a classic statement used by colleges and universities and many who advise students and families. However, saving is king. Every dollar saved strengthens a student and family’s access to college. Setting aside as much as possible through a broader range of education savings programs will increase access to a wide range of college options. Parents, grandparents, and relatives can also participate in the college savings game. Connect with one of the many financial service experts in the Route One BNG family for additional guidance and assistance.
Consult an Independent College Counselor
Need help with the checklist, calming the waters, getting started, or just answering questions. An experienced independent college counselor can help parents guide their students. They listen, focus on needs and expectations, and help manage realistic and holistic college planning. Plus, you’ll get the peace of mind that a professional is on the team 100% of the time.
Tom O’Hare is the Founder of Get College Going, a North Shore-based full-service college counseling practice. TOur goal is to help family’s find the right education, for the right reason, at the right school for the right investment—resources before, during, and after college.
Schedule a free consultation or obtain your free Comprehensive College Guide at www.getcollegegoing.com –
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Dear Santa – 2020
I hope that you, Mrs. Claus, the Elves, and everyone at the North Pole are good. Is Rudolph healthy? I hope the reindeer are going to be able to fly. You know, Santa, I am worried. Do you think you will bring gifts to all the children? Can you leave the North Pole? What about needing to be tested as you travel on X-Mas eve? I’m worried my grandmother says we are in a hot state, and I don’t think she refers to the weather.
It’s been a rough year Santa. They won’t let me go to school. My mom and dad call it being remote. My sister and brother are in high school, and they are hybrid. It’s fun; we all do our homework together. My mother helps me with my English class; she says dad can’t spell. Next week I think my sister and brother are going with my grandfather to check out colleges. They said there is not a campus tour, but he will drive them around the school.
Santa, I have tried to be good this year. It hasn’t been easy. If I’m on the naughty list, it’s because my brother teases me. Need to get him back. I know many people are suffering, worse than me. I only need a few things. Maybe you can get some gifts for others:
Here are a few ideas.
- My brother needs a new weight set. He wants to lift at home for football.
- My dad says my new cousin needs a 529 plan to save for college.
- My sister likes architecture; maybe you can bring her a 3D printer
- A Dunks gift card for my cousin Pete; there are a couple on his campus.
- Microphone for my dad, says he is going to be a podcaster soon
- Membership to Pivotal College Years – it’s free to all subscribers
- New tires for our car, my brother is going to commute to college next year.
- For me, a tool belt, I want to go to vocational school and become a carpenter.
- A vacation for my mother; my dad says the CEO needs some TLC.
- Peace and goodwill!!
Thank you, Santa. Please do your best to help all the boys and girls…even my nasty cousin. Everyone is trying their best. My grandmother says 2021 will be better.
Please let Mrs. Claus know we are thinking of her. I know she must miss you on Christmas Eve. Maybe you can make it up to her in New Year!
Wishing All a Joyous and Safe Holiday Season…
Ps….Santa, If you hear of any little boys and girls struggling to get their college planning started, worried about finding their best college match, or their parents are stressed about paying for college, please tell them Get College Going can help. Counseling, coaching, and peace of mind for students and parents; before, during, and after college.
If you follow dates on the calendar, here are a few to watch for as of today:
- 37 days till Christmas
- 43 Day till new Tax Year
- 43 Day till the start of Regular College Admissions
We’re all waiting for December 25 with joy and excitement, even if it means Santa drops in through the virtual chimney. If you’re the parent of a high school student, 1/1/2021 is a day to circle on the 2021 calendar.
Christmas comes but once a year. We prepare some beginning before Thanksgiving, others hoping for good deals on Black Friday, while others procrastinate till Christmas eve and rush to find one last gift.
College planning can replicate preparing for a significant holiday or life event with many high school students, and parents are ahead of the game; many have unfortunately been procrastinating.
- High school seniors who are still evaluating and considering options have time, but the next deadlines are fast approaching. The pandemic has adjusted many premier colleges and universities’ deadlines; meeting early Spring Admission deadlines can only benefit students.
- Financial aid applications are another story. The timeline is now! Understanding cost, eligibility for financial aid, and the ability to receive timely notification of aid award offer from schools will only happen if the FAFSA, Free Application for Federal Student Aid is submitted now.
- January 1, 2021, introduces a new tax year that will affect families’ financial aid eligibility for students entering college in September of 2023. That is right; a two-year look back is part of the college financing landscape. Parents of high school juniors, your base year 2020 is closing fast.
Our Thanksgiving feast is right around the corner; 1/1/2021 might seem like tomorrow for many anxious high school parents and students.
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Yes, these are unusual times for everyone, including millions of college-bound high school seniors and their families. Within the last two months, everything has turned upside down, affecting even the greatest of plans. Or so, one might think.
Financing one’s college education has become one of the top five most significant financial investments an individual will make in their lifetime and that of their parents. Choosing to go to college should be treated as an investment, one that doesn’t put the student or their parents at a financial risk.
Depending on where a student and their parents are in the college planning process, multiple strategies can apply. Plans should take into consideration college choices, financial resources, dependency on financial aid, and future goals. Wise steps are needed next today.
Seniors: Unfortunately, you are under the microscope, experiencing the most significant impact. You and your parents may have chosen a college, submitted a deposit, or you have been narrowing the list and were ready to pull the trigger. However, now as you compare financial aid awards and calculate the net cost, the gap has grown. In both cases, filing an appeal is your next step. Deposited or not, if your ability to meet the cost of one or more college on the list, a request is in order. You must convey the new, current financial status of the household and the specific reason (loss of or drop in income). The appeal is sent to the Financial Aid Office and copied to Admissions. Then give them time, monitor emails, and follow up.
Deposited Days Extended: By now, most college-bound seniors know that the official May 1 Deposit Day is on the move. The vast majority of colleges and universities are moving their deposit date to June and a few even, July. For students and families who are evaluating the cost side of choosing, enrolling this is a helpful sign.
New Recruitment Practices: I’m not referring to athletics, all though they too are affected by the current COVID-19. I am speaking about potentially new recruitment practices coming to the forefront of higher education. The idea of schools reaching out past the deposit date to have a conversation about considering their campus. A practice generally unheard in higher education, but one that this Adviser feels its time has come. Maybe call re-inforces second or third might just be the best fit. A call the student can also make!!
Financing Resources: Traditional funding resources are still here. As is typical for this time of year is the exercise of finalization of payment strategies. What current savings or income as part of the financing plan and what if any future income, loans were going to be needed. Of course, now, for many families, learn if an adjustment to merit and financial aid awarded will accrue and if it will be enough.
- Family savings: Potentially hit the hardest due to the COVID-19; families may continue to have resources through 529 Plans, other college savings programs, and investment programs. It may be too early to learn of the overall effect COVID-19 has had on families.
- Monthly payment plans: A program offered directly through the school, providing 5, 7, 10 installment payments over a semester or year. Most plans require a small application fee and are interest fees, a very cost-effective loan program. The question becomes, what resources within the current budget are available?
- Federal Direct Student Loans: A loan extended to the student directly as part of the completion and filing of the FAFSA, awarded based on grade level and academic progression. A first-year student may be eligible to receive up to $5,500 with payments are due six months after graduation or early separation from school. The loan carries a fixed interest rate, which, based on current projections, maybe as low as 2.89%* for the coming academic year.
- Federal PLUS Loan: A credit-based loan available to parents of a dependent student. This fixed-rate loan (projected to be as low as 5.44% for July 1, 2020, to June 30, 2021*) allows a parent to borrow a portion of or the entire remaining balance owed to the college or university. Payments begin 30-45 days following the disbursement of the full loan. The loan is repaid monthly between 5-20 years. Although not recommended, loan payments can be postponed during the student’s enrollment period. Interest accrues during the postponement and is either paid or added to the balance at the end.
- Private Education Loans: A credit-based loan is provided through a small nucleus of lenders and credit unions and may be available to an eligible student and parents. Interest rates are based on the creditworthiness of the borrower and co-borrower if required (90% of undergraduate students require a co-borrower) and whether the loan will is repaid or deferred while the student is in school. The average fixed interest rate today can range from 3.99% to 12%. A private loan has become prevalent resources, but one that can be the most costly. It should only be one’s last resort!
Alternative Decisions: Looks like I will be the one to address the elephant in the room. Students’ first choice may not be their choice today. The decisions to select a top runner from the second or third row may be in the best interest of the student and their family. Shouldering the cost of high-interest private loans, allowing a parent to (never) think of using retirement savings to enroll in a school that yes, is the dream, but an investment risk needs to be studied, evaluated and questioned. Moving to a top second and third choice may be the wises decision, a new first-year college student will make in their life!!
In such trying times, we are here to serve as a resource and provider of useful content from the college industry. Our team has walked thousands of families through the college process over the last few decades. Please feel free to call, text, or email your questions. We hope you find value in our information and welcome you to join us virtually.
Reference: Mark Kantrowitz March 11, 2020, Savingforcollege.com
It’s time to move up to the big kids table. Eighth grade is quickly coming to an end with the next level, high school a few months away. Bigger cafeterias, more hallways to navigate and twice as many students. High school is the time when 13-17-year-old students blossom into teenagers.
High school offers a student the chance to explore, learn and develop. Academics, personal talents and authentic personality all come to life during high school. Will it be a traditional college prep setting or maybe vocational technical training? STEM, STEAM curriculum? about Junior ROTC? But how do we choose for our Middle School student?
Parents of soon to be high school freshman should talk to them now. Talk about interest, academic paths, desires to learn with one’s hands or a combination of both. Not sure how to determine the high school path for a student. Consider using a career match survey sponsored by the folks at educationplanner.org. A survey that brings talent and interest into the conversation. But most importantly, visit with your 8th grade student all of your high school options.
Consider these areas when investigating all types of high school settings.
- Will the student be challenged academically? What level of math, science and language will a freshman be taking? Where do they end as seniors?
- How does the school celebrate and support a student’s authentic self?
- Are students encouraged to take honors course when success in standard classes comes easy?
- What is the balance between academic and shop classes?
- Are students encouraged to find their own identity through clubs and organizations?
- Is there equal celebration for drama/theater & band as there is for athletics.
- What is the reputation of the faculty and administration?
- What type of academic support is offered students? How do you measure its effectiveness?
- How does the administration address social issues like bullying & drugs; head on or with a naked eye?
- How will a student be challenged to grow his/her personal character, expand one’s “moral compass”? Are service projects organized?
- Does the system participate in dual enrollment with area colleges?
Study and time management skills are honed in the 6-7 through projects and activities and by 8th grade one’s self-discipline and moral compass begins to form. As a enters 9th grade they are on their way to formulating their high school resume which will help to identify their path after high school. The experience between 9th and 12th grade defines a student’s readiness to follow their path after high school. For some it will be college, others a professional trade and for many a combination of both. All should be celebrated. No longer do we live in a society where one path is the only direction for high school students.
Four years will be gone in the snap of your fingers. Open your Middle School student’s eyes to their possibilities – options for high school. The next transition will be very successful!!