College and The Cost

College Tuition Increases are Making Healthcare Increases Look TinyDidn’t Think it was Possible to Make Healthcare Costs look Relatively Small…

Student Debt SituationA Dead End that is Now Straining

Shifting the Burden to the YouthShortsighted and Not Particularly Fair to Children

Student Financial Load Now Exceeds Carrying CapacityNote Sharp Increase in Delinquency – Student Loan Debt is Not Dischargeable in Bankruptcy

Student Pays for School Working Part Time?No Longer Possible – Michigan State University Example Follows

Massive College Cost Increases & Minimum Wage Not Keeping Up with Inflation Leads to the Chart

Consider 15 Credit Hours for the Semester (15 x 60 hours = 900 hours needed at Min. Wage)Semester = 14 Weeks

900 hours / 14 Weeks = 64 hours/week (This is NOT Feasible)

College Textbooks1500% Increase in Cost over 30 Years

Graph Depicting Increase in Textbook Cost Over TimeNote it Moves with CPI Until about 1985 – It then Proceeds to Lose Touch with Reality

Now for Some Potential Solutions!

Online Overview of Preparing for College

Interviews and Advice from Admissions Directors etc.

https://www.khanacademy.org/college-admissions/making-high-school-count

Khan Academy – Making High School Count

SAT PerformanceOutperforming Entering Student Average Score = $118/10

Points

Worth $Thousands, But the Scale is Not Linear – Big Rewards for Very High Scores

SAT Performance – Part 1Observations & Actions

Note not only the positive correlation with family income but more importantly the significant slope change between 200K and >200K (some binning resolution loss influence).

The significant rise in score relative to >$200K year is largely the influence of formal tutoring. Ambition and self review is a fitting substitute for funded tutoring. The student just needs educated in regards to available tools.

Note strong statistical significance and strong benefit of taking the PSAT 2 times prior to the official logging of the PSAT for National Merit Purposes. This is a MUST DO!

Taking the test in 9th Grade will undoubtedly help SAT performance later

SAT Performance – Part 2National Merit - Prep for PSAT by Taking SAT – 9th Grade

PSAT EXTREMELY IMPORTANT

PSAT/NMSQT[edit]The NMSC uses the PSAT/NMSQT as the initial screen of over 1.5 million program entrants. In the spring of the junior year, NMSC determines a national Selection Index qualifying score (critical reading + math + writing skills scores) for "Commended" recognition, which is calculated each year to yield students at about the 96th percentile (top 50,000 highest scorers). Scores in the 200's (out of 240) often qualify for recognition, but qualifying levels change annually depending on how the top approximately 50,000 high scorers fared. Qualification levels also vary by state, and qualifying levels are higher in competitive states such as New Jersey and Massachusetts.[7] For the 2009/2010 school year, a score of 217 was required in California to qualify. Notification is mailed to school principals in April regarding students who scored at or above this level. The principals then notify their students of their status. These students are given the opportunity to identify two colleges or universities to which they would like NMSC to send their scores.

Semifinalist[edit]Early the next September (beginning of the senior year, almost a year after the PSAT/NMSQT was taken), NMSC determines Selection Index qualifying scores for further recognition by state (including three other areas: DC, US Territories and Commonwealths, and students enrolled in schools outside the US) and US boarding schools (by geographic region). About 16,000 of the 50,000 are recognized as National Merit Semifinalists in this process. The Selection Index qualifying scores for Semifinalist standing vary from state to state and from year to year. Each state is allocated a percentage of Semifinalists based on the percentage of that state's graduating seniors out of the nation's total. The National Merit Scholarship Corporation does not release to the public the minimum qualifying score required per state. In August after the PSAT was taken, high school principals are mailed notification about their Semifinalists. Principals communicate these results to their students, though some misread the NMSC materials and do not release them until the NMSC press release, which comes in mid-September. Those not making Semifinalist are "Commended", and receive a Letter of Commendation; they do not continue in the competition for Merit Scholarship awards.

Finalist[edit]Semifinalists must fulfill additional requirements and advance to the Finalist level of the competition to be considered for a scholarship. Approximately 15,000 of the 16,000 Semifinalists advance to Finalist standing by submitting SAT scores that confirm the earlier PSAT/NMSQT performance, having an outstanding academic record, and being endorsed and recommended by a high school official. They must also submit an application that includes high school courses and grades, extracurricular and volunteer activities, and a self-descriptive essay. The information that is collected about each Semifinalist is used later in the process to choose scholarship winners. All Finalists receive a Certificate of Merit in recognition of their outstanding performance in the competition.

Scholarships[edit]Of the 15,000 Finalists, about 8,000 receive Merit Scholarship awards. All Finalists are considered for one of the 2,500 National Merit $2,500 Scholarships. National Merit $2500 Scholarship winners are the Finalists in each state judged to have the strongest combination of accomplishments, skills, and potential for success in rigorous college studies. The number of winners named in each state is proportional to the state’s percentage of the nation’s graduating high school seniors. These Scholars were selected by a committee of college admissions officers and high school counselors, who appraised a substantial amount of information submitted by both the Finalists and their high schools: the academic record, including difficulty level of subjects studied and grades earned; scores from two standardized tests; contributions and leadership in school and community activities; an essay written by the Finalist; and a recommendation written by a high school official. NMSC's own funds support the majority of these awards but corporate sponsors help underwrite these awards with grants they provide to NMSC in lieu of paying administrative fees. About 1,100 Merit Scholarship awards are provided by corporate sponsors for Finalists who meet criteria specified by the sponsor. Most of these awards are for children of the sponsor's employees, for Finalists living in a particular geographic area, or for Finalists who have career plans the sponsor wishes to encourage. These two types of awards can be used at any regionally accredited college or university in the United States. There are also approximately 4,600 college-sponsored Merit Scholarship awards for Finalists who plan to attend a sponsor college. Finalists report to NMSC their first choice college (College-Sponsored Merit Awards). In addition, about 1,500 program participants who are below the Finalist level receive Special Scholarships provided by corporate sponsors.Before receiving an award, a Finalist must (a) notify NMSC of plans to enroll in a college or university in the United States that holds accredited status with a regional accrediting commission on higher education, and (b) plan to enroll full-time in an undergraduate course of study leading to a traditional baccalaureate degree. NMSC scholarship stipends are not payable for attendance at service academies, distance learning programs, and certain institutions that are limited in their purposes or training. A number of National Merit Scholars do not receive a monetary award because their educational plans or other awards preclude receipt of a monetary scholarship; however, these students may be honored as Honorary Merit Scholars, a designation that acknowledges achievement without providing any financial assistance.

To put the previous 4 text blocks into perspective consider the numbers and how well you need to perform for a scholarship. Consider we start with 1,500,000 taking the test. We have in essence 4 levels of achievement and tails.• Commended Scholar (Top 50,000 test takers – 96th+ percentile – top 4% of all test takers nationwide)• Semifinalist (Top 16,000 test takers – 98th+ percentile – top 2% of all test takers nationwide)• Finalist (Top 15,000 – 99th+ percentile – top 1% of all test takers nationwide)• Scholarship Recipient (Top 8,200 – 99.5th percentile – top 0.5% of all test takers nationwide)

This is a lofty goal and thus a risky path by which to get college financing

College Credit CheapRanging from Free (Some School Districts Paid – to Very Cheap $81/Class [AP

Testing])

College Credit Cheap – Part 1Michigan Dual Enrollment – College Credit bought by Property Taxes

Start as Early as 9th Grade!

Dual Enrollment (Michigan’s Post Secondary Enrollment Option) – High School & College (White Lake Schools are Billed and THEY PAY for the Courses)

http://www.michigan.gov/mde/0,4615,7-140-28753_65799_40085---,00.html

College Credit Cheap – Part 2Advanced Placement (AP) Exams – Up to 8 Credit Hours for Only $91

Start as Early as 9th Grade!

The fee for each AP Exam in 2015 is $91, with schools retaining an $9rebate per exam. For each AP Exam taken by students from low-income families, the College Board will provide a $29 fee reduction per exam.Federal & State AP Exam Fee Assistance - College Board

Advanced Placement (AP) Exams – You Do Not Need to Have the Class to Take the Test!

According to the College Board (AP test administrator), yes, you can take an AP test without taking an AP class.

37 Subjects (Average 4 Credit Hours per Success)148 Potential Credit Hours for Little Money ($)

Take Note! – The Tests are Not

Overly Difficult All you Need is a 3 to Pass and 50% of

9th Graders Taking the Exam get a 3!

Michigan State

Undergraduate Tuition$440.00 per credit hour

Western Michigan

Undergraduate TuitionRegional location courses - $378.66 per credit hourOnline Education courses - $316.03 per credit hourCombination of main campus and Online Education courses - students enrolled in a combination of courses on the main campus and online, who fall in the flat rate credit hour range, may see an adjustment on their account to reflect the flat rate.

Achieving a passing grade of 3 (keep in mind that scoring is 1-5 and 50% of 9th graders achieve a score of 3 or higher) results in an average Credit Hour award of ~3.89 CH * $378.66 = $1,473. This represents only 1 AP exam with a total cost of $91 to take the exam. This represents a return of >1500% on your money. Achieving a 3 or higher on 5 exams would result in >$7,250 worth of college, over an entire semester worth.

Central Michigan

Undergraduate, in-state students will pay $374 per credit hour, up from $365 last year. That is a $9 per credit hour increase. For a full-time student, the increase amounts to $270 in added tuition expenses for a year. CMU's Board of Trustees voted for the tuition at their Thursday, April 11, meeting

Achieving a passing grade of 3 (keep in mind that scoring is 1-5 and 50% of 9th graders achieve a score of 3 or higher) results in an average Credit Hour award of ~3.73 CH * $374.00 = $1,395. This represents only 1 AP exam with a total cost of $91 to take the exam. This represents a return of >1425% on your money. Achieving a 3 or higher on 5 exams would result in >$7,250 worth of college, over an entire semester worth.

Athletic ScholarshipsGreat if you Can Win One!

Q: Does every student-athlete receive a 100% or "full" scholarship?A: Universities are permitted to grant 18 "full" scholarships and typically carry around 26 players, so not all are on full scholarships. In other words, most NCAA teams have some players who receive only a portion of their expenses in athletic scholarship (i.e. partial scholarship) and some players who receive all of their expenses in scholarship (i.e. full scholarship).- See more at: http://collegehockeyinc.com/faq#sthash.uBNeleco.dpuf

Hockey Scholarships – Preliminary Look

Michigan Tech – 26 (18 full)Eastern Michigan – 26 (18 full)Western Michigan – 26 (18 full)Northern Michigan – 26 (18 full)Central Michigan – 26 (18 full)Michigan State – 26 (18 full)

University of Michigan – 26 (18 full)

Total Scholarships from Above Schools – 156 (108)

Independent InstructionUseful in High School and College Both

Independent InstructionUseful in High School and College Both

https://www.khanacademy.org/ Relatively famous online learning aid that focuses on access to education

https://www.edx.org/Online school funded by Bill Gates

https://www.coursera.org/Pretty extensive offerings ~1000 courses from many universities

http://www.allversity.org/Similar to Khan Academy

http://online.stanford.edu/Stanford – some unique offerings some tied to Edx also

College and Related ChoicesReturn on Investment (ROI) Varies Widely In Michigan

MSU – Strong Performer with

Reasonable Acceptance

Major in What You EnjoyChoices do however make a distinct difference in Lifetime Earnings

Exploiting Outliers in Major SelectionIf you Decide on Engineering – Consider Specializations

Pet. E. Leads to Lifetime Earnings 44% Higher than average Engineering Majors on Average (Some Uncertainty as Alternative Energy Grows – Still a Good Base)

Being a Doctor Still PaysExpensive and Extensive School But the Clearest Path to High Earnings