In helping students select colleges I’ll look at a variety key indicators..  One of these indicators is the 4 year graduation rate.  The 4 year graduation rate can be tricky to find when looking at a college website.  The 6 year graduation rate may be the one that is prominently displayed.  So why is it so important to know the 4 year and 6 year graduation rates.  One factor is the additional cost one would incur for tuition, fees, room, and board.  The other factor is an opportunity cost coming from a delay in entering the job market.

In evaluating colleges, what is s good 4 year graduation rate?  Former Commissioner of Education Statistics Mark Schneider has his own views on what the minimum four year graduation rate should be.  He uses the term failure factories for schools that have low graduation rates.  Schools that graduate fewer than 33% of their students in 4 years would be in this category.  Here are some examples of colleges and their 4 year graduation rates.

The statistics are from www.edtrust.org

When I help parents and students evaluate colleges my goal is direct students to colleges that will help in their development.  When looking at a college’s graduation rate I look at it as though I was faced with a chance of success in whatever situation may be presented to me.  If I was faced with a medical condition that required an operation, what chance of success is likely?

Over the next month we’ll examine some of the causes of high drop out rates.  One of the causes is Undermatching-When lower income students don’t choose the best college they can get.

A campus visit can range from a quick drive through of the campus to visiting a variety of departments and topping it off by spending a night sleeping in the freshman dorm for the incoming student. One part of the campus visit may include a tour of the campus. These tours can be scheduled online or by calling the school. The tours are usually held Monday through Friday and on Saturdays. Some schools set Saturday tours by appointment only. The ideal time to schedule a tour is during the week when students will be in session. The school may have a University Outreach department or Information Center that schedules the tours. The scheduled tour should be part of every college visit.

So once the campus tour is done, where do you go next? Visits to the following offices or departments should be part of every campus visit.

• Admissions Office
• Financial Aid Office
• Department head or faculty member

You may also want to eat at the school cafeteria, spend time talking to the students, and go to the Career Placement office.

It’ also important to come prepared. Put together a list of questions to ask of the different departments. Here are a few of the top questions that should be asked.

• Admissions Department

What is the average retention rate for your freshman? How has this rate changed over the last few years?

What are the most important admission criteria for your school? How would you rank these in terms of importance?

• Financial Aid Department

What forms does the college need to apply for financial aid?

How does the school award financial aid? What is the average award based on merit? What is the average award based on need?

• Faculty

How accessible are the professors if there are questions from class?

What differentiates your school’s programs from other schools?

Keep track of who you talk to and find out if it’s OK to contact them in the future. It’s important to get to know as much as possible about the college and the area. You don’t want to start attending a college and say “I wish I would have known a little more about ______”

Georgia Colleges- What to do when tuition may increase 70% or budgets are slashed

In order to balance the budget the state may have to cut up to $600 million from the budget of the state’s colleges and universities.  This may mean tuition hikes at Georgia’s college could range from 35 percent to 70 percent.  The budget reduction may also be passed off in the way of increased fees, staff reduction, caps on enrollment, programs being eliminated, or cuts in the number of hours facilities are open.  

Taking a proactive approach is a key.  Let’s look at a few examples and what can be done

• A student considering the nurse anesthetist program at Medical College of Georgia and is concerned that program may be cut.  Look at the Academic Common Market for states that may offer the program and pay in state tuition at an out of state school.  Go to the following link for more information-  http://home.sreb.org/acm/choosestate.aspx
• A student that is concerned that it may take a year or so longer to graduate because they can’t get the classes they need to graduate.  Pay attention to the 4, 5, and 6 year graduation rates at the colleges you are applying to.  Go to The Education Trust to find out the graduation rates-  http://www.collegeresults.org/
•  A student that is terrified that they may not get into UGA or Georgia Tech because of enrollment caps.  Cast a wider net in applying to colleges.  Consider schools that will fit the financial profile for the family and the student.  Schools that offer merit based or need based aid can lower the cost of college.      

College News and Views

College News and Views is a semi-monthly publication that was created to provide you with highlights on a variety of topics in the world of higher education.  If you would like to see additional topics or a greater emphasis on certain areas, just let us know.

Changes in the “No Loan” Programs for Colleges

In the last few weeks two colleges have announced that they can no longer continue the “No Loan” programs.  Williams College will drop the “No Loan” program and replace grants with loans.  Dartmouth College will drop the “No Loan” program for families with incomes greater than $75,000.  With an annual cost of $52,973 for Dartmouth and $49,880 for Williams College this means families will have to dig deeper in their pockets to pay for college.

The “No Loan” program started back in 2007 and 2008.  This was at a time when endowments were growing and there was criticism that colleges weren’t spending enough of their funds.  Then came a significant decline in the stock market and real estate values towards the latter part of 2008.  It appears that schools are now rethinking their financial aid policies and making adjustments. 

With two prominent colleges making this change, will others follow suit?  

More Students Majoring in Science

It looks like more and more students are going to college with plans to major in Science or Technology.  This may also be referred to as STEM fields which include Science, Technology, Engineering, and Math. 

A study completed by the Higher Education Research Institute also known as HERI showed that the graduation rates for STEM majors was much lower than their non-STEM classmates.  What’s alarming about the study is that students who start college in STEM fields have a lower graduation rate than those who start in all other areas of study whether the degree is in a STEM or non-STEM field.  The study is trying to determine what will actually work to help students with their graduation rate.

 Advanced Placement (AP) Scores on the Rise   

In the Collegeboard’s annual report the percentage of students scoring a 3 or more and attending public schools has increased from the previous year.  In 2008, 15.2% of high school graduates scored a 3 or more and in 2009 the percentage increased to 16%. 

The Advanced Placement program is administered by the Collegeboard.  The test scores range from a 1 to 5.  This program can allow high schools students to receive college credit.  A score of 3 or more can determine college success and readiness.

What’s the latest in the world of higher education?

$10,000 Tax Credit for Higher Education- In President Obama’s first State of the Union address he talked about his agenda in making higher education more affordable.  To make higher education a reality for many, a $10,000 higher-education tax credit for families may be part of their payment plan.  For those with existing student loans, debt forgiveness may be a possibility for people who have been repaying their college loans for at least 20 years.

Biggest Worry for College Freshman?- Approximately 2/3 of freshmen said they were either somewhat or very worried about their ability to finance their college educations. About 55% said they had “some” concerns about money and 11% indicated they had “major” concerns about paying for college.   

The survey was conducted by the Higher Education Research Institute at the University of California at Los Angeles.  The survey is called “The American Freshman: National Norms Fall 2009”.  This report has been in existence for 44 years and provides institutions with information about the demographic profile, perceptions, and mind-set of their incoming freshmen classes.  For more information on the survey, go to http://www.heri.ucla.edu/

Why Do Students Drop Out?- Seventy-one percent of those surveyed who had quit college said that work was a factor in the decision, and more than half said it was a major factor. About 35 percent of those who dropped out said they had tried to balance work and study, and found it too stressful.

A report was produced by Public Agenda, a nonpartisan nonprofit research group, with support from the Bill & Melinda Gates Foundation.  More information can be found at the following link- http://www.publicagenda.org/theirwholelivesaheadofthem

Part Time Students account for close to 40 percent of undergraduates in the country—and those who have to work generally do not do as well as their full time counterparts.