...from GuidedPath Edge Guru

Analyzing Financial Aid Awards Made Easy

GP Edge Guru April 26, 2017

Audry came into my office so excited! “I have all my financial aid awards- but I have no idea what they mean!” How many parents and students have this same question?

I sat Audry and her parents down and we started entering information into GuidedPath. With the Cost Comparisons tool in GuidedPath, it is easy to view and compare awards- seeing which colleges are truly making the best offers.

Decision Details
Using the Decision details, we ran through each financial aid award line by line. The decision details has several drop down choices; grants, scholarships, student loans, work study, parent loans, even a section for “other” awards. Any type of award offered by a college, including merit awards, can be recorded in this section. Enter all amounts as an annual amount. There are options to add award names, and to calculate four year totals. We breezed through each award, using the “Next Decision” button.

Decision Dashboard
Once all the financial awards are entered, it was time to stand back and view the overall picture. Which college offered the most grants or scholarships? Which one required the largest parent loans? What about workstudy or student employment? The Decision dashboard displays very clearly how the financial aid awards stack up against each other, in year 1. What about beyond year 1? And what was the average graduation rate of the institutions?

Cost Comparison
Using cost comparisons is the answer! Select 4 colleges with awards to compare. Using the dropdown box, select 4 colleges to view cost comparison. The cost comparisons provides a way to project costs for 4 and 6 years. This starts with the Estimated cost of attendance:

Direct Costs
- Tuition
- Room and board
- Books and supplies
Indirect Costs
- Personal Expenses
- Transportation

Financial Aid Award Breakdowns
Within the cost comparisons, you can view:

Total Gift Aid
Total Loans
Family EFC
Unmet need
Additional funds needed

The 3 A’s

Included in the cost comparisons are the three A’s:

Average need based financial aid award packages
Anticipated need based financial aid package for Audry
Actual need based financial aid package. Did Audry get offered more than we expected? Less? Or right in the middle of the range? This is an important number to know, if we want to write an appeal and ask the college to reconsider what they can offer in terms of financial awards.

Outlooks
Can Audry get out in 4 years? Or will it be more like 6 years? This is included in the cost comparisons too. The GuidedPath rating system gives you an answer at a glance. From 5 caps (75% graduation rate or more) down to 0 caps (less than 10% graduation rate). A good sign is lots of graduation caps- either at the 4 year or 6 year rate. Included in the outlooks section is an estimate of what 4 years/6 years of additional funds will be required of the family.

What is your award rating?
GuidedPath Cost Comparisons take the guess work out of comparing. See at a glance with the Award rating which college is truly offering an outstanding package for a student.

Conclusion
Audry and her parents were surprised to learn the college they thought was offering the best financial aid award was not as good as they thought. Another college’s offer was better initially, and would be better over the four years. Audry and her parents left the office with mixed emotions: clarity and excitement. Clarity on what their real choices were. Excitement for what the next four years would bring.
That, is, to me, the finest moment in this entire journey. It is the reason I wake up each morning and look forward to helping another student, another family on this journey. To find clarity and excitement. To take a step into the next chapter in life’s journey, knowing what the choices are, and having an clarity of how they are going to accomplish that choice.
Good night Audry. Hope you sleep well tonight.

General, Seniors college affordability, college costs, financial aid, GuidedPath Edge, merit scholarships

Graduation is a rite of passage that you have no doubt been looking forward to for some time. And while Spring 2020 has brought a season of disappointments, canceling graduations seems particularly egregious. This is the culminating celebration for years of hard work. It should be a day that is celebrated with teachers, family and friends, and hugs, handshakes and high-fives. Unfortunately, for most students that’s not possible right now.

Perhaps it is precisely because we know nothing can replace standing next to your friends and throwing your cap in the air, communities around the country have come together to devise creative ways to mark the importance of this occasion. There have been graduation car parades, ceremonies held at drive-in theaters, individual graduations hosted in living rooms, and virtual ceremonies featuring special guests.

Speaking of special guests – celebrities, CEOs, pro athletes, and entertainers are all getting in on the act. In response to a viral tweet by Eagle Rock High School senior, Lincoln Debenham, Barack and Michelle Obama announced last week that they would participate in multiple commencement ceremonies. The first is this Saturday, May 16. Called #GraduateTogether, it features the Obamas along with Lebron James, Pharrell Williams, the Jonas Brothers, Megan Rapinoe and others. The event will be broadcast by ABC, CBS, FOX, and NBC beginning at 8pm ET/PT, 7pm CT/MT. This Forbes article details a number of other celebrity ceremonies including a May 15 Facebook event headlined by Oprah and a May 16 iHeart Media podcast of celebrity commencement addresses.

We love you Class of 2020! Our hearts break for the disappointments you have been handed this spring and yet we celebrate you all the same. You deserve to be recognized and we will do that in whatever way possible. We are so proud of your accomplishments and especially proud of the grace you have shown in adapting to these final weeks of your senior year.

Acing AP tests or final exams

Jen Smith April 22, 2020

Worried about your upcoming AP tests or final exams? In a normal year these exams can be anxiety producing, but this year that may be particularly true. AP exams will now be offered in an online, open-note/open book format. And as schools continue to cancel in person classes for the rest of the year, you may find yourself taking more online or modified final exams.

With all the information available to you, an online, open book exam should be easy right? Surprisingly, that may not be the case. Open book/open note exams usual push students to synthesize responses that demonstrate comprehension rather than just regurgitating facts. You should expect questions which may ask you to apply concepts in new ways. The CollegeBoard has put together a list of tips for preparing for online exams. Ultimately, knowing the material and having organized notes/resources will be your best strategy. This means you should continue to devote study time to your AP exams just as you would if you were taking them in person.

Thinking about scrapping the AP exams all together? You are not required by the CollegeBoard to take the AP exam (although your high school may have different policies around this). The main incentive for taking the exam is the possibility of college credit. While many colleges are adopting test optional policies for admission, most have said that they will still award AP credit the same way they have in the past. CollegeBoard has said that the AP exams will test content covered through early March. You’ve already done the work for the exam; you just need to refine your skills.

Take Action

Find more tips and resources for preparing for AP exams on the CollegeBoard website. You can apply these study tips to high school finals as well as future college exams.

Decision Time – or is it?

Jen Smith April 8, 2020

May 1 is traditionally National College Decision Day. Typically, schools require that students choose where they will enroll by submitting an enrollment deposit on or before May 1. That makes April – decision time. Of course, this year things are feeling very different. A large number of colleges have already extended their enrollment deadlines to June 1. Making a college choice right now may feel difficult (or easy depending on where you were in the process). Regardless, you might be asking yourself some of the questions below.

Can I ask for an extension?

Of course! It doesn’t hurt to ask. Although the college may still have a May 1 deadline, many have said they will make extensions on a case by case basis. You could be waiting on a financial aid appeal, or for more information from one college that would affect your decision at another. Make your case requesting an enrollment deadline extension in writing to the admissions office.

What if I’m on the waitlist?

Unfortunately for many students, it seems like colleges are sending lots of waitlist offers this year. Forgive the sports metaphor – colleges want a deep bench in case their freshman enrollment numbers don’t play out the way they typically do. Waitlist updates could continue throughout the summer. As with every year, it’s best to send an enrollment deposit to a second-choice college that has admitted you even if you are on the waitlist at your first-choice. There is no way to know if you will get accepted from the waitlist.

Maybe I should do a gap year?

It’s possible – if you truly feel that’s in your best interest and you have a plan. However, this may not be the best choice if you weren’t already considering this before the pandemic. Most colleges defer enrollment for only a small number of students and they usually consider those requests on a case by case basis. You should have solid answers for these three questions: 1) why do you want to take a gap year; 2) how will you spend your time; and 3) what will you learn from your experience?

My school is not open, I haven’t talked to my counselor, what about my final transcript?

Colleges understand that these are exceptional circumstances. No one in education has ever experienced a disruption of quite this level. Although colleges require your final high school transcript as a proof of graduation (and most also review your final high school grades), allowances will surely be made to get those transcripts submitted.

We are doing online learning – they say our grades will be pass/fail.

Again, colleges are going to be making way for a lot of exceptions. Don’t panic about final grades not looking like they normally would. High schools across the country are doing their best in this unprecedented situation. Colleges understand that. Whether it’s sending unofficial documents via email, or extending the deadline, or waiving final grade requirements – submitting final enrollment paperwork may look differently this year. The same will likely be true for orientation, housing contracts, and registration.

Take Action

The best advice for now is to stay informed. Visit the admitted student websites (often) for the colleges you are considering, attend any online enrollment events, and read all of the email communication you receive from colleges! Be in touch with your advisor (and your high school counselor) as they may have updates about changes to deadlines or policies. And finally, NACAC is providing this online resource to students and families as a centralized place where you can check for updates on all your schools.

...from GuidedPath Edge Guru

Analyzing Financial Aid Awards Made Easy

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