October 10, 2008

Economic Times Being What They Are...

In addition to being the Director of Admissions at the University of South Carolina, my other title is "Dad", used primarily by three people.  Two of the actually call me Dad, the other manages "Daddie", but he's only two years old and has a limited vocabulary, so I cut him some slack.  Even though my children are ages seven, five and two, and therefore college is still many years away for them, as a parent I am already concerned about paying for college.  Like prudent parents, my wife and I started a 529 College Savings Plan upon the arrival of our first child, and made other plans to save for college, but like so many people, we've seen seven years of savings evaporate over the last month or so.  

At least I have ten years to make it up, but what should students and parents of students about to enter college do?    Unfortunately I don't have all the answers but I do have some suggestions to help you make informed decisions about college:

1)  Understand the costs of attendance -  Figuring out what it costs to go to college is kind of like walking on a car dealer's lot and asking how much is a new car.  Just like a new car purchase price depends on the options you select,  the cost of a year at college often depends on the number of classes you take,  the nature of the classes, whether or not you live on campus, which residence hall you pick, the meal plan you choose, and the list goes on.   "Tuition" is sometimes used as a catch-all term by some people to refer to all their college costs, but tuition, or the cost per credit hour for the courses one takes, is often just part of the costs students will pay.   It is important to understand what goes into the average cost of attendance:  Tuition, course fees, other fees, such as health fees, activity fees, athletic fees, books, "room and board" (residence hall and meal plan for students that live on campus), parking and transportation expenses, and miscellaneous personal expenses.   You can see the Unversity of South Carolina's estimated annual expenses for the current year at this link:  http://www.sc.edu/admissions/costaid.php  So, don't just focus on tuition, but make sure you are aware of all the typical expenses college students will incur.

2) Apply for Financial Aid - Many students and parents think they will not qualify for "financial aid", and what they usually mean is they don't think they will qualify for aid that does not have to be repaid, such as a federal Pell grant.  Therefore, they don't bother completing the FAFSA, or "Free Application for Federal Student Aid."    Fill it out anyway.  You may be surprised what you qualify for.  And, if you think you may want or need to take out a federally-subsidised student loan, you'll need to complete the FAFSA regardless.  Here is link to get started:  http://www.sc.edu/financialaid/start.html  And, if you need help at any point, consult with a counselor in the financial aid office.

3) Consider working part-time while in college - Not only can students earn money to help pay their expenses, but the research shows that students who work part-time, especially in on-campus jobs, do better academically that those who work off-campus or not at all.  Maybe it is keeping a tight schedule, or being connected with faculty and staff who can help advise and encourage students, but working on campus benefits the educational process.  Also, Co-operative Education programs and paid internships are more in demand these days as a way to get valuable experience while earning money for college.

4) Seek Outside Scholarship Support - There are many, many civic organizations, foundations, comapanies, and individuals that provide scholarship support to students, if they would only apply!  You have to do some digging to find private scholarship support, but you can find it through a variety of websites, internet searches, and your local library.   Beware, however, of companies that charge to find scholarships for you.  In most cases you can find them on your own for free, and many of these "scholarship locator services" are not legitimate. 

5) Have a Back-up Plan -  For years the prevailing advice to students applying for college has been to apply to at least three schools:  Your "dream" or "stretch" school that you have a shot at getting into but it is a long shot, your "solid" school, to which you are pretty sure you can get into, and your "safety" school, one you are certain, beyond any doubt, will accept you.    I suggest tweaking that a bit, to include a school you are sure you can get into AND that you can afford to attend.   

As I said I still have ten years to go before my oldest child will be applying for college. Who knows what will happen between now and then, but I believe that going to college is now and probably will always continue to be the single best advantage and opportunity for a better life for my children, and I am prepared to make that happen for my kids,  regardless of the sacrifices I have to make. 

July 05, 2008

First round of orientation sessions are over!

It is the day after Independence Day, and that means that most, but not all, freshmen for fall 2008 have come to orientation, where they met with an academic advisor, registered for classes, found out what building they will live in, etc.  It is an exciting time as new students and their parents really start bonding with USC.  This year we've had many more students attend orientation than last year so far, which is good because we belive orientation is very important.   It is the time when final details are addressed and important information is shared. Every new student should attend orientation, and so far about 95% of our incoming freshmen have done so.

But, what if you haven't signed up for orientation yet?  There are always a few students that for one reason or another are not able to attend one of the June orientation sessions. What if you are in that 5% minority?  Well, don't dispair, we have a final orienation session in August that you will soon be able to register for on our orientation website.

So, get oriented to USC, attend new student orientation.  You'll be glad you did!

 

March 12, 2008

Questions about Scholarships

I have received a few questions about scholarships that I'd like to address:

Q) How do I know if I am getting a scholarship?

A) We mailed out letters extending scholarship offers last week.  If you are being offered a scholarship, you should have received your letter by now.

 

Q) What were the requirements to get a scholarship this year?

A) They vary by type and level of award, but generally speaking a 1250 SAT (Math + Critical Reading) and a B+ average were the minimum requirements to be considered for most scholarships. 

 

Q)  I received a Woodrow Scholarship and it mentioned a tuition reduction.  What does that mean?

A)  A Woodrow Scholarship is for out-of-state students and is considered a "departmental scholarship", which means it qualifies for a tuition reduction that is approximately half the difference between in-state tuition and the non-resident tution rate.  In addition to this tuition reduction, recipients also receive $500/year applied to their outstanding bill.  Therefore, beginning with Fall 2008, the annual net value of a Woodrow Scholarship is expected to be $500(award) + $10,317(reduction) = $10,817/year.  Over four years, the net value of the Woodrow will be more than $43,268.

 

Q) Same question, but I received a McKissick (or Cooper)  Scholarship. 

A) Almost the same answer, except the Cooper and the McKissick scholarships are considered "Institutional" or "general university" scholarships.  In addition to the dollar amount of the awards, recipients also qualify for in-state tuition, as if they were South Carolina residents.  The benefit of the Cooper is expected to $4000(award) + $14,241(reduction) = $18,241 per year, and more than $72,964 over four years.  The benefit of a McKissick is expected to be $2000(award) + 14,241(reduction) = $16,241, and more than $64,964 over four years.   These rates are based on average full-time tuition projections for  next year and could vary slightly from student-to-student and year-to-year, but you get the idea.  Actual tuition for next year will not be set until the June Board of Trustees Meeting.

If you ever have any questions about your scholarship award, please call the admissions office at (803) 777-7700 and ask to speak with an admissions counselor.

February 07, 2008

The Scholarship Timeline

Matty asked:  When exactly will USC send out scholarship notifications?  Here is the deal.  We still have many applications yet to review, which will take the admissions office a few more weeks to complete.  Once we have given all our applicants that met our December 1 deadline a fair and thorough review, then we will send our our big round of admission acceptances.  Once that is done, we will make scholarship determinations based on the overall competitiveness of the class.  Each year as the quality of the freshman class improves (based on grades and test scores) we adjust the scholarship awarding criteria as appropriate. 

Our goal is to have all admissions decisions on their way by the first week in March.  Within that same time frame we will send our our final round of offers to the South Carolina Honors College, invitations to be in the Capstone Scholars program, and our institutional scholarship offers.

Matty, I know you and everyone else is anxiously awaiting to hear about scholarships.  Be on the lookout for notices to arrive in early March, and thank-you for the question...and your patience!

 

January 25, 2008

Scholarship time is drawing near!

We are entering my most favorite phase of the admissions process: scholarship selection.  For the past several weeks, faculty and staff have reviewed hundreds of applications from some of the best scholars from around the Palmetto State and from around the country.  I am amazed at the talents and accomplishments of these outstanding students!  We're in the final round of making offers of admission to the South Carolina Honors College--which is tough because over 1400 students applied but we can only accommodate about three hundred students. 

Even more competitive are the Carolina Scholar and McNair Scholar competitions.  The very best Honors College candidates are screened for these, our two top awards, and once we name those finalists, we begin the chair reaction of awarding all our other scholarships, so the coming weeks will be exhilarating for some, disappointing for others, and stressful for all as tough decisions have to be made.

The ball is now rolling. we just named 41 McNair Scholar finalists today, Friday, January 25 at 4:00pm, and I cannot leave the office until I sign each offer letter.  For you, our future class of outstanding McNair Finalists and Scholars, I have some advice:  you may want to hang around the house tomorrow, just in case the FEDEX truck comes rumbling down your street.   Good news sometimes comes in a thin, cardboard envelope! 

And, for you Carolina Scholar candidates, please be patient, it won't be much longer for you, either!

Primary Politics Palmetto Style

For the past week and a half, Columbia, South Carolina has been descended on by  hundreds of large, white panel trucks with huge satelite dishes on the roof.  It seems like on every street corner there is a reporter with a camera asking students their opinion on the presidential race.   Election time is upon us, and for a few weeks, South Carolina is the center of the policitcal universe.  Last Saturday was the Republican party primary and tomorrow is the Democratic party Primary, and the University of South Carolina is right in the middle of the action. 

In fact, Fred Thompson's headquarters leading up to the Republican primary was on campus in the Russell House, Mike Huckabee held a rally at Williams-Brice Stadium, there was a GOP debate in the Koger Center, which is where Barack Obama is holding an open forum tonight.  Yesterday, Mrs. Obama was on campus as well, promoting reading initiatives.  Over the summer, the College Democrats held their national convention here at USC, which was visited by all the major democratic candidates, including Hillary Clinton and John Edwards.  Needless to say, this is the place to be if you are interested in the political process!

January 07, 2008

The Rankings Game: with all the college and universities out there, how do you compare?

We seem to be obsessed in this country with ranking things.  We want to know which is "the best", and nothing else seems to matter.  There are plenty of guidebooks,  magazines, websites, and other experts ready to "help" students and families make an informed college choice by ranking colleges and universities on different combinations of factors that the publisher or other self-proclaimed "expert" deems important. 

Personally, I am torn when it comes to rankings.  On one hand, the more information the better, provided that information is accurate, objecitve and relevant.  As a consumer, just like anyone else, I want an outside expert opinion so that I don't have to sort through all the data myself.  I would never buy a TV without Consumer Reports, CNet, and Crutchfield sharing this burden with me.  So, how can college rankings be bad, right?

But, on the other hand, using rankings is only part of the discernment process, and relying exclusively on rankings has many pitfalls.  One of the biggest dangers, in my opinion, is that we tend to focus on the very top in a given ranking system, and unfairly discount the lower scorers, even if the difference between number 1 and number 100 is insignificant. 

In the higher education market, applying the various rankings out there to your college choice can be helpful, but consider these questions when doing so:

1)  What is the ranking system actually measuring?  Are they measuring criteria that are important to you?  Why are these criteria important to you?

2)  How does a particular college's performance on a given ranking translate into the experience you will have at that school, if you choose to attend?  

3) How much does a particular ranking system differentiate the schools being ranked? 

For instance, consider two schools, ranked #1 and #2 on graduation rates.  School #1 reports a 90 percent graduate rate, and school #2 reports an 89.98 percent rate.   Obviously, they both have excellent and almost indistinguishable graduate rates.  But consider school #95 in the list, with an 88.5% graduation rate.  Also excellent and nearly the same rate as the others.  If you just look at the rank, #95 may not sound impressive, but if you just compare the actual graduate rates of all three schools, this measure is meaningless in differentiating the schools because they are all excellent on this criteria.

 There is one big factor missing from college rankings: YOU.  Your abilities, interests and motivation are critical factors in the kind of education you will obtain at your college, and no ranking system can measure that.  It is entirely conceivable for one  to attend one of the nation's best universities, only to coast through, not apply oneself, and graduate with little more knowledge and education that what one started with.  Likewise, a great education can be obtained at an open admissions community college.  It all depends on the individual's motivation and drive to learn.

I am not suggesting that you should not aspire to attend the "best" school possible.  Not at all.  In fact, I recommend attending the best school you can get in and reasonably afford, assuming the schools you are considering are good fits to begin with.     Use rankings to help you define your list, but don't discount a school just because it does not have a good ranking in a magazine you never read but pop culture leads you to believe it knows what it is talking about.  Keep rankings in perspective--rather than being so concerned about "the best", make sure you find "the best fit" for you.

Oh, and one last thing. If you do look at rankings, don't just use one ranking service, consider several.  One that I particularly find useful is Kiplinger's Personal Finance's Best 100 Public Universities.  The 2008 rankings have just come out and can be found at the following link. http://www.kiplinger.com/tools/colleges/  The University of South Carolina, for example, is ranked #35 in in-state value, and #59 for out-of-state value.  Considering that there are over 3,000 colleges and universities in the United States, we are certainly pleased with our ranking.

The thing I like about Kiplinger's is that they consider academic quality, costs, and financial aid to determine value.  For any ranking system, always examine their ranking methodology to learn more about how the service ranks schools.