Is Your Child Ready for College?

CollegeWeekLive Fall 2010Barbara Cooke, M.A.

Parent’s Guide to College and Careers (JIST 2010)

http://guidetocollegeandcareers.blogspot.com

Reality Check

High school success does not equal college readiness!

Multiple HS diploma options todaySome students learn college-ready

skills in high school; many do not

Reality Check

Over 70 % of high school graduates enroll in college within two years of high school graduation

Less than 50% complete a Bachelor’s degree or technical career program within six years

The problem is more than choosing the “wrong” college

Reality Check

Open-admissions institutions: colleges that admit students without regard to academic qualifications

Provide access, opportunityMany students have the expectation

of going to college without the preparation to be successful in college

What Does It Take?

Three kinds of preparedness1. Academic preparedness2. Social/emotional preparedness3. Financial preparedness

The college admissions process is heavily focused on just one: academic preparedness

Academic Preparedness

What are your child’s basic skills in reading, writing, math, science?

You need a standardized measureTake the ACT or Compass testCompare scores to ACT College

Readiness Benchmarks

ACT College Readiness Benchmarks

ACT or COMPASS test scores needed for 50% chance of earning a B or better or 75 % chance of earning a C or better in college courses traditionally taken in the first year of college

College composition, psychology, biology, history, college algebra etc.

Academic PreparednessCollege level classes vs. remedial

classesRemedial (developmental) classes are

one of the fastest growing segments of higher education

Courses taken in college to bring underprepared students to skill competency of a college freshman

Will cost you time and money

Academic PreparednessTime managementTwo hours of outside study for each

one credit hour in class15 college credits : 15 hrs. in class +

30 hrs. of study = 45 hrs. per week needed for school

Add a part-time job 20 hrs./week = 65 hrs. of time is scheduled before social life begins

Academic PreparednessWriting skillsIn college, your child will expected

to:Write numerous short and long papers in all classes, not just English classes

Read unfamiliar material, analyze it and respond to it in writing

Answer essay questions rather than multiple choice questions

Academic PreparednessMath skillsCollege algebra is the minimum

degree requirementRemedial/developmental math

courses will cost you time and moneyInsist on 4 years of college prep

math in high school

Social/Emotional PreparednessA more subjective assessment How mature is your child?The three “R’s”

ResponsibilityResilienceResourcefulness

ResponsibilityTurning in assignments on timeShowing up for work and doing a good

jobCompleting household choresFollowing household rules and

curfewsManaging money - checking accounts,

debit cards, saving for purchases

ResilienceTaking criticism wellRealistic expectations of selfThe ability to bounce back after

setbacksSelf-care:

Eating rightExerciseGetting enough rest

ResourcefulnessProblem solving skillsConnecting with other people to

identify resourcesTalking with instructorsCreating and using a support system“Helicopter” parents: teach your

child to solve the problem, don’t solve it yourself!

Financial PreparednessU.S. student loan debt now exceeds

credit card debt – over $830 billion dollars!

College debt is an issue for both of you

Average student debt for graduates: $24,000

Doesn’t include graduate school $$ or credit card debt

Financial PreparednessSources of money for college:

1. College savings accounts

2. Monthly family income applied to tuition and living expenses

3. Loans, both student and parent4. Grants and scholarships a student

earns or is awarded

Savings for College

529 Plan and other college savings accounts

Divide $$ by 4.5 years in collegeAdd a year to college costs if:

Remedial courses are requiredCollege major changes several times

Monthly Income Used for College

Tuition payments by parentsStudent earnings from work-study

and part-time jobsImportant: Don’t borrow money for

what you are already spending for cell phone, food, clothing and other expenses while your child is in high school!

Student Loans

More families are borrowing for college

How much is too much student loan debt?

Both parents and students need to know their “debt threshold”

How much you can borrow and comfortably repay the loan?

Parent Loans for College

Parent guideline: Your total household debt payments all your debts -- including mortgage payments, credit cards, car loans and education loans -- shouldn't eat up more than 35% of your gross pay

Parent Loans for College

Family income: $100,000/year

Total debt on mortgage, car payments, credit cards, other debts: $25,000/year

Maximum amount to add in loan payments: $10,000 /year

Student Loans for College

8% ruleYour child’s total student loan

payments should not exceed 8% of monthly gross income after college

For $30,000 student loan, payment will be $345/month

Salary needed: $52,000 /year

Student Loan RepaymentTotal Student Loans Annual Salary Needed

$10,000$15,000$20,000$25,000$30,000

$17,262/ year$25,893/year$34,524/year$43,155/year$51,786/year

Student Loans for College

8% rule connects amount to borrow with the student’s marketability after graduation

Some majors command more money in the job market than others

$345/month loan payment will be the same for an English major or engineering major

College Majors and JobsSome majors develop specific job

skills: engineering, nursing, education etc.

Most majors develop non-specific, transferable skills: English, psychology, communication studies, biology etc.

For most majors, work experience while in college is the key to employment after college

Scholarships and Grants

Scholarships are awarded for meritGrants are based on needOutside vs. institutional scholarshipsOutside vs. institutional grants

Scholarships and GrantsDepartment of Higher Education

website for your state –grants, scholarships

Free scholarship databases on the internet

College websites - automatic scholarships and competitive scholarships at the school

Use “Actual College Cost” worksheet

Ways to Insure Preparedness

Take rigorous courses in high schoolFour years of college-prep mathWriting-intensive courses: research

papersUse AP and dual-credit wisely

Begin exploring careers in high schoolCareer exploration vs. career decision-

makingUnderstand how different majors play

out in the job marketSeparate choosing a major from

choosing a 1st careerUse career resources on campus

Understand the “big picture” of college and careers

Don’t try to do it all at onceEncourage use of all campus

resourcesDe-brief and follow-up!

Web Resources for Parents

Career information websitesCareers by college major websitesFinancial aid (FAFSA4caster)and

scholarship linksLinks to 4-year college websitesParent’s Guide to College and Careers (JIST

Final Thoughts

Affirm your child’s strengthsDon’t be afraid to say “No”Teach networkingLearn to let go