It's my 200th blog post!
To celebrate this bi-centennial post - I will blog about money in relationship to college scholarships.
My favorite topic.
Every year I just have to show this clip from Jerry Maguire.
Why?
Because every year I feel more-and-more like my job is that of a sports agent.
Not only am I to get kids into college (which again, I don't do - kids get themselves into college).
But I'm also to broker the best financial aid package.
The logic: Show the colleges the A's on the transcript and the colleges will show my kid the $$$$!
Of course, when it comes to the most highly selective schools, that money is reserved not for the meritocratic all-stars, because we should all know by now, everyone who is admitted at the top of the selectivity pyramid walks on water.
Money is given based on need only.
W'2's.
Not CUM GPA's.
Last week Forbes did an article on this growing trend among American families with college-bound seniors.
It's a sobering article.
Meant to be a "wake up call" to children and parents of entitlement.
High GPA's and test scores doesn't necessarily equate to scholarship dollars.
It's becoming an art form really.
Of wishful thinking.
Every A should equate to collecting $100 of scholarship money.
Reality is just now coming to roost.
For parents. You means we actually have to pay for college?
For colleges. You mean you (parent) actually thought you weren't going to have to pay for college?
For students. You mean that A in AP Study Skills doesn't get me a full ride?
In the end, I counsel my students and parents to choose a college that fits into their affordability parameters.
For some that will equate to a full pay, private college.
For others that will equate to a half pay, "lower-on-the-selectivity-food-chain" private college.
And for others that will equate to paying for a state public.
Of course the biggest fear factor going forward for many students and parents is the L word.
Loans.
There are so many horror stories of kids who graduate with six figure loan debt.
In a recent The Atlantic article entitled, "The Myth of the Student-Loan Crisis," the writers seek to illustrate with excellent graphics and empirical evidence that the horror stories are in the minority, and the employment rate and the income earning potential for those who graduate with a college degree should give you some warm fuzzies.
