Chip’s Tips: Thoughts to help College Planning for Parents
If you are the parent of a high school student, then you know that college planning is a major part of preparing your child for their next step in life. With so much to consider—from choosing the right school to budgeting for tuition—it can be overwhelming and difficult to know where to start. That's why we've put together this guide to help make the college planning process easier for you.
Choosing Schools
The first step in college planning is for your child to choose which schools they want to apply to. This should be based on several factors such as location, size, cost, and academic programs offered. (financial generosity based on merit and need) Your child should also research each school’s admissions requirements and financial aid options before making decisions. It’s important to encourage your child throughout this process and provide support and guidance when needed. Ultimately, the decision needs to be theirs; while it’s important that you provide input, it is ultimately up to them where they decide to apply.
Applying for Financial Aid
Once your child has narrowed down their list of schools, (and submitted admissions applications) the next step is applying for financial aid. There are several forms that need to be completed in order for a student to qualify for financial aid including the FAFSA (Free Application For Student Aid). (Some schools also require the CSS Profile, and still others have their own forms) It’s important that all forms are completed accurately and submitted on time for your child’s application to be considered by the school(s). Additionally, there may be additional forms required by individual schools; these will need to be completed. Most forms are simple and self-explanatory.
Scheduling Campus Visits (move this before financial aid)
(Prior to applying to any schools, it is important to do your due diligence. Part of this research is visiting schools that seem like a good fit from internet research and virtual tours. It is important to realize that whether you commute or dorm, you will be spending most of the next four years on that campus. This makes it extremely important to choose an environment you can call home for that time. If you aren’t comfortable where you “live”, the consequences can include poor performance, losing scholarships, transferring and losing credits etc. All of which can cost both time and money.) After all forms have been submitted and accepted by the schools your child applied too, it’s time now for campus visits! Visiting colleges gives students an opportunity not only see how they like the campus but also learn more about what each college has offer academically as well as socially. When visiting campuses, it’s important that students ask questions about majors/minors offered at each school as well as extracurricular activities offered. Students should also talk with current students or tour guides who can give more insight into what it would be like attending each particular college/university.
Conclusion:
College planning can seem daunting but with a little bit of research and guidance from experienced parents or professionals, it doesn't have to be! By taking advantage of available resources such as online guides or even tutorials given by schools themselves, parents can help their children make informed decisions about their future education path with confidence! With this guide in hand, you are now better equipped than ever before when helping your children plan out their collegiate career! Good luck!
This blog is for informational purposes only. It does not constitute a recommendation, offer or solicitation to buy or sell, nor is it an official confirmation of terms. Information provided is believed to be reliable, but Buckman Advisory Group, LLC. makes no warranties or representations as to its accuracy or completeness. Depending on your personal financial situation the information contained may or may not be right for you. Please contact one of our financial advisors to discuss.