It’s Never Too Early to Prepare for College

Tameka Williamson College Consultant

Amazon Best-Selling Author My Own College Coach

www.myowncollegecoach.com www.tamekawilliamson.com

College Planning 101

College Planning 101

Today’s Parent…… • Wait until their child is a HS

Junior/Senior to discuss college • Have zero or less than 5% of their income

in savings • Has more consumer debt than ever • Can’t afford one semester/yr of tuition • Thought they still had time to prepare • May have to sacrifice their home or

retirement to pay for college

College Planning 101

SOURCE: The College Board, Trends in College Pricing 2013, Figure 5.

Inflation-Adjusted Published Tuition and Fees Relative to 1983-84, 1983-84 to 2013-14 (1983-84 = 100)

College Planning 101

• Average Public University Costs: ~ $20K

• Average Private University Costs: ~ $40K

• Average Elite Private University Costs: ~ $55K

• 5 years can cost $100K - $280K (x’s # of kids)

• COA: Tuition, books, room and board, living expenses, etc.

• Cost increase 7-8% annually

College Planning 101

• Why College

• How to get there?

• What Colleges look for?

• How to pay for it?

• When to start?

Why College

• 66% of the 21st Century Jobs will require some type of education beyond H.S. • Types of Colleges/Universities

• Private/Public

• For Profit/Non-Profit

• Level of schools: • 4 Year College/University

• Community College

• Trade/Technical School

• Online Schools

How to Get There

How to Get There….

1. Graduate from H.S. or get GED

2. Pass ACT/SAT

3. Get Admitted to a College/University

4. Complete FAFSA

5. Pay for College/University

6. Graduate from College

How To Get There

1. Start early

2. Plan & Prepare for it

3. Develop a team

4. Hire a professional college consultant

5. Network

6. Right positioning

What Colleges Look For

What Colleges Look For

What Colleges Look For

School 2013 2012 2011

Amherst College 13.67% 11.92% 12.76%

Babson College 28.18% 29.0% 33.19%

Boston College 32% 28.82% 27.88%

Brown University 9.2% 9.60% 8.70%

Columbia University 6.89% 7.42% 6.93%

Cooper Union 7.27% 6.33% 7.22%

Cornell University 15.2% 16.19% 17.95%

Dartmouth College 10% 9.43% 9.73%

Duke University 11.6% 11.87% 12.59%

College Acceptance Rates In 2013, college acceptance rates dropped as low as 5.69% for the first time ever. Some of the most selective schools were Harvard University

(5.79%) in Cambridge, MA, Stanford University (5.69%) in Palo Alto, CA, Yale University (6.72%) in New Haven, CT, and Columbia University

(6.89%) in New York, NY.

University of Georgia: 53%

Georgia Institute of Technology: 39.37% overall; 53% early; 18% regular decision

Vanderbilt University: 11.97% overall; 21.6% early decision; 10.84% regular decision

How to Pay for College

Submit a FAFSA

How to Pay for College

Types of Aid • FREE Money

• Scholarships – merit and need • Grants • Work Study • Endowment Funds

• Savings/Investments • Loans

• Student Loans • Parent Loans • Private Loans • House Line of Equity

How to Pay for College

Financial Aid Myths and Realities

• Make too much money - Myth

• My child is not Valedictorian - Myth

• We own a home - Both

• Aid is only for a special group - Myth

• It’s an easy process – Your Choice

• School officials can help - Partially

How to Pay for College

SOURCE: The College Board, Trends in Student Aid 2013, Figure 2A.

Undergraduate Student Aid by Source and Type (in Billions), 2012-13

How to Pay for College

SOURCE: The College Board, Trends in Student Aid 2013, Figure 2B.

Graduate Student Aid by Source and Type (in Billions), 2012-13

How to Pay for College

SOURCE: The College Board, Trends in Student Aid 2013, Figure 9A

Percentage of Undergraduate Students Borrowing Federal Subsidized and Unsubsidized Loans, 2002-03, 2007-08, and 2012-13

When to Start

What You Want to SEE…

What You Want to SEE…

It’s Never Too Early to Prepare for College

Thank You!!