Selecting a college or university can be a daunting experience, even for the best and brightest students.
Before applying to a college or university, try to avoid making these common mistakes:
The student wants to travel as far away from home as possible but the parents will only support enrolling in schools less than 500 miles away from home. It is essential that families decide, before beginning any college investigation, the geographic parameters for enrollment.
How Many Applications?
Too many students file too many applications because they have not narrowed their choices and done the necessary investigative work. If you ask the right questions and get the right answers, you should not file more than 7 applications.
First Apply; then Figure Out How to Pay for College
Do not file any application until you know if you can afford to attend. Do this before application, not after acceptance.
Switch and Bait
Find out if the financial aid package you are awarded in the first year will continue in subsequent years. Make certain the grant and loan ratios stay the same.
Parent Debt and Student Debt
The majority of college students borrow to pay for their educational expenses.
Last year the average debt was approximately $30,000. But what about parent debt? Find out how much parents have to borrow at each of the schools on your list.
Debt and First Year Starting Salaries
Debt is manageable or unmanageable based on first year starting salaries. Try not to borrow more than 15 percent of your first year starting salary.
In the next post, later this week, we’ll look at more common mistakes.