College Time: Where will you attend?

By Gordon Wadsworth

If you're a high school student, chances are you're visiting college campuses to determine which school will meet your needs and desires in the future.

This can be a challenge, considering the number of choices available. In a recent article published on the Web, Rachel Hartigan Shea says students must choose from more than 2,275 four-year schools.

Majors, moms, and dads

When they made their selections, students often choose a school because it is highly recognized for a particular academic major. But Shea says, "Many students come to regret this overly simple strategy when they later change their minds about what they want to study. And most college students do change their minds, switching majors at least once, and sometimes two or more times."

Moms and dads can also add confusion to the process. In an article for USNews.com, Margaret Loftus says, "Many overeager moms and dads have a misguided idea of what makes a school the 'right' one. Michael Thompson, a Cambridge, Massachusetts, psychologist and school consultant who speaks on the college admissions process, recalls one young woman, accepted at Harvard and another school, who reluctantly chose Harvard even though she preferred the other because her parents essentially bullied her into the decision."

When students or their parents choose the wrong school, the cost of completing a degree can rise as much as 50 percent. The reason: Each time students change their major subject or school, their change of focus can add months or even years to the already high cost of a post-secondary education.

"Instead, students should identify three academic areas that they enjoy and then look for schools that have solid department sin all three," says Stina Hans, an independent counselor in Santa Barbara, California.

Paying for college

Finally, as you go through the school selection process, don't forget one of the most important questions: "How will you pay for your education?"

• Including undergraduate and graduate expenses, an independent student may borrow up to $138,500 under the federal Stafford Loan Program and leave school in serious financial bondage. But schools that accept government aid offer some alternatives to loans.
• One alternative is the Pell Grant, which is nearing $4,000 for the most needy students.
• Although I do not favor loans in general, the Federal Perkins Loans is by far the best student loan available today, with up to 10 years for repayment at only 5 percent interest. Or better still, the entire loan (up to $40,000) may be completely canceled based on the student's occupation following graduation.
• There also is the new Stafford Teacher Loan Program, which lets students erase up to $5,000 of their high-cost Stafford Loan after five years of teaching in a private or public school.
• Finally, the Federal Work-Study Program enables students to work up to 15 hours per week in campus jobs provided through the college financial aid office.

Private schools, not to be outdone, offer sizeable merit and institutional scholarships for incoming students. For example, Pensacola Christian College, which has declined federal student aid for years, offers a variety of financial aid arrangements, including a strong work-assistance program. Reportedly, students can earn up to $2,800 per years to help offset the school's affordable tuition fees.

Regardless of which college a student chooses, there will be financial assistance available. The difference is going to be in the type of financial aid offered-scholarships and grants or student loans.

That difference is often determined long before a student sets foot on campus. It is based on the student's SAT scores, Advanced Placement classes, and community service activities. For more help in finding college financial aid, log onto www.costeffectivecollege.com.

Gordon Wadsworth is president of Financial Aid Information Services in Alpharetta, Georgia. Both the Perkins and Stafford forgiveness programs he discussed in this article are detailed in his book Cost Effective College, Creative Ways to Pay for College and Stay Out of Debt (Moody Press). You may order the book online, or by mail (send $13.49 plus $4 shipping and handling to FAIS, 5830 Haterleigh Ste 130, Alpharetta GA 30005).

Lee University

Lee University, the Church of God's largest institution for higher education, is the most affordable school among the Association of Christian Colleges and Universities. Lee has been selected for many years to the US News and World Report on college rankings as one of the top Southern Liberal Arts Colleges. Lee University has also been chosen for inclusion by the John Templeton Foundation to the Honor Roll for Character Building Colleges.

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