is your child ready for college?
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CollegeWeekLive Virtual College Fair Webinar 2010TRANSCRIPT
Is Your Child Ready for College?
CollegeWeekLive Fall 2010Barbara Cooke, M.A.
Parent’s Guide to College and Careers (JIST 2010)
http://guidetocollegeandcareers.blogspot.com
Reality Check
High school success does not equal college readiness!
Multiple HS diploma options todaySome students learn college-ready
skills in high school; many do not
Reality Check
Over 70 % of high school graduates enroll in college within two years of high school graduation
Less than 50% complete a Bachelor’s degree or technical career program within six years
The problem is more than choosing the “wrong” college
Reality Check
Open-admissions institutions: colleges that admit students without regard to academic qualifications
Provide access, opportunityMany students have the expectation
of going to college without the preparation to be successful in college
What Does It Take?
Three kinds of preparedness1. Academic preparedness2. Social/emotional preparedness3. Financial preparedness
The college admissions process is heavily focused on just one: academic preparedness
Academic Preparedness
What are your child’s basic skills in reading, writing, math, science?
You need a standardized measureTake the ACT or Compass testCompare scores to ACT College
Readiness Benchmarks
ACT College Readiness Benchmarks
ACT or COMPASS test scores needed for 50% chance of earning a B or better or 75 % chance of earning a C or better in college courses traditionally taken in the first year of college
College composition, psychology, biology, history, college algebra etc.
Academic PreparednessCollege level classes vs. remedial
classesRemedial (developmental) classes are
one of the fastest growing segments of higher education
Courses taken in college to bring underprepared students to skill competency of a college freshman
Will cost you time and money
Academic PreparednessTime managementTwo hours of outside study for each
one credit hour in class15 college credits : 15 hrs. in class +
30 hrs. of study = 45 hrs. per week needed for school
Add a part-time job 20 hrs./week = 65 hrs. of time is scheduled before social life begins
Academic PreparednessWriting skillsIn college, your child will expected
to:Write numerous short and long papers in all classes, not just English classes
Read unfamiliar material, analyze it and respond to it in writing
Answer essay questions rather than multiple choice questions
Academic PreparednessMath skillsCollege algebra is the minimum
degree requirementRemedial/developmental math
courses will cost you time and moneyInsist on 4 years of college prep
math in high school
Social/Emotional PreparednessA more subjective assessment How mature is your child?The three “R’s”
ResponsibilityResilienceResourcefulness
ResponsibilityTurning in assignments on timeShowing up for work and doing a good
jobCompleting household choresFollowing household rules and
curfewsManaging money - checking accounts,
debit cards, saving for purchases
ResilienceTaking criticism wellRealistic expectations of selfThe ability to bounce back after
setbacksSelf-care:
Eating rightExerciseGetting enough rest
ResourcefulnessProblem solving skillsConnecting with other people to
identify resourcesTalking with instructorsCreating and using a support system“Helicopter” parents: teach your
child to solve the problem, don’t solve it yourself!
Financial PreparednessU.S. student loan debt now exceeds
credit card debt – over $830 billion dollars!
College debt is an issue for both of you
Average student debt for graduates: $24,000
Doesn’t include graduate school $$ or credit card debt
Financial PreparednessSources of money for college:
1. College savings accounts
2. Monthly family income applied to tuition and living expenses
3. Loans, both student and parent4. Grants and scholarships a student
earns or is awarded
Savings for College
529 Plan and other college savings accounts
Divide $$ by 4.5 years in collegeAdd a year to college costs if:
Remedial courses are requiredCollege major changes several times
Monthly Income Used for College
Tuition payments by parentsStudent earnings from work-study
and part-time jobsImportant: Don’t borrow money for
what you are already spending for cell phone, food, clothing and other expenses while your child is in high school!
Student Loans
More families are borrowing for college
How much is too much student loan debt?
Both parents and students need to know their “debt threshold”
How much you can borrow and comfortably repay the loan?
Parent Loans for College
Parent guideline: Your total household debt payments all your debts -- including mortgage payments, credit cards, car loans and education loans -- shouldn't eat up more than 35% of your gross pay
Parent Loans for College
Family income: $100,000/year
Total debt on mortgage, car payments, credit cards, other debts: $25,000/year
Maximum amount to add in loan payments: $10,000 /year
Student Loans for College
8% ruleYour child’s total student loan
payments should not exceed 8% of monthly gross income after college
For $30,000 student loan, payment will be $345/month
Salary needed: $52,000 /year
Student Loan RepaymentTotal Student Loans Annual Salary Needed
$10,000$15,000$20,000$25,000$30,000
$17,262/ year$25,893/year$34,524/year$43,155/year$51,786/year
Student Loans for College
8% rule connects amount to borrow with the student’s marketability after graduation
Some majors command more money in the job market than others
$345/month loan payment will be the same for an English major or engineering major
College Majors and JobsSome majors develop specific job
skills: engineering, nursing, education etc.
Most majors develop non-specific, transferable skills: English, psychology, communication studies, biology etc.
For most majors, work experience while in college is the key to employment after college
Scholarships and Grants
Scholarships are awarded for meritGrants are based on needOutside vs. institutional scholarshipsOutside vs. institutional grants
Scholarships and GrantsDepartment of Higher Education
website for your state –grants, scholarships
Free scholarship databases on the internet
College websites - automatic scholarships and competitive scholarships at the school
Use “Actual College Cost” worksheet
Ways to Insure Preparedness
Take rigorous courses in high schoolFour years of college-prep mathWriting-intensive courses: research
papersUse AP and dual-credit wisely
Ways to Insure Preparedness
Begin exploring careers in high schoolCareer exploration vs. career decision-
makingUnderstand how different majors play
out in the job marketSeparate choosing a major from
choosing a 1st careerUse career resources on campus
Ways to Insure Preparedness
Understand the “big picture” of college and careers
Don’t try to do it all at onceEncourage use of all campus
resourcesDe-brief and follow-up!
Web Resources for Parents
http://guidetocollegeandcareers.blogspot.com
Career information websitesCareers by college major websitesFinancial aid (FAFSA4caster)and
scholarship linksLinks to 4-year college websitesParent’s Guide to College and Careers (JIST
2010)
Final Thoughts
Affirm your child’s strengthsDon’t be afraid to say “No”Teach networkingLearn to let go
Is Your Child Ready for College?
CollegeWeekLive Fall 2010Barbara Cooke, M.A.
Parent’s Guide to College and Careers (JIST 2010)
http://guidetocollegeandcareers.blogspot.com