A College Education Is A Sound Investment
Americans believe a college education is worth the money, but they don’t believe college is affordable and don’t know where to go to get reliable information about financial aid, according to the findings of an extensive research study conducted on behalf of a broad coalition of higher education associations and institutions. The study identifies a wide gap between what the public knows about financing higher education and what it believes it knows. The study overwhelmingly showed that the public is not aware of how much financial aid is available to help meet college bills or where to find it. They also greatly overestimate the price of attending college. Overall, the study revealed six key findings:
- The public worries a great deal about the price of college. Seventy-one percent of those surveyed believe that college is too expensive. Additionally, 79 percent of African Americans and 82 percent of Hispanics are more likely to think that college is not affordable.
— Despite the public’s worries about the affordability of higher education in general and a positive self-assessment of their personal ability to afford it, the public has a distorted view of what it costs to attend college — thinking it costs considerably more than it does.
— Fifty-five percent of those surveyed do not think colleges try to keep the amount they charge at affordable levels for families, and 80 percent think colleges and universities make a profit.
Myths and Realities about Paying for College
Myth: You really don’t need college to be a success — look at Bill Gates.
Reality: Bill Gates’ story is exceptional. Today, the average annual income of male fulltime workers with a bachelor’s degree is over 50 percent higher than for those with a high school diploma. Those with an associate degree earn 20 percent more than high school graduates. The earnings differentials are larger for women. Today, some postsecondary education or training is necessary for almost every good job.
Myth: Only minorities get extra help.
Reality: Very little aid is awarded solely on the basis of students’ race or ethnicity. Generally, students from racial or ethnic minority groups are more likely to receive scholarships because they are more likely to have financial need.
Myth: Community colleges offer only vocational education.
Reality: Community colleges provide a wide range of educational options, all at a low cost to students. Open admissions, nearby locations, a wide array of courses, flexible class schedules, and low tuition prices make community colleges readily accessible for everyone.
Myth: There is no basis for the soaring increase in college prices.
Reality: Colleges are trying to do even better, searching for new and innovative ways to cut costs and minimize tuition increases.
Straight Talk About College Costs and Prices
The report acknowledges that the high level of public concern about college costs is real and that higher education has a responsibility to engage the issue, to inform the public more effectively, and to redouble efforts at cost control. Failure to cut costs and stem tuition growth could spur the federal and state governments to address public concerns by imposing cost controls. The report also notes that government price controls would dilute the educational quality of higher education programs, and that colleges are presently burdened with costly and often redundant government regulations.
The failure of colleges and universities to explain the factors that influence college pricing increases public anxiety over steadily increasing tuition and may eventually erode public support for government aid for higher education. The commission’s report contains recommendations that comprise an ambitious action agenda for both policy makers and higher education institutions.
Among the recommendations:
- Accrediting associations should reshape existing standards and review processes to emphasize student achievement; support greater institutional productivity, efficiency, and cost constraint; develop a system to coordinate activities between regional, national, and specialized accreditors; and develop training programs for program reviewers to build greater understanding of cost containment.
— Congress should continue to support existing federal grant, loan, and campusbased financial aid programs and, where possible, provide additional resources; explore the possibility of extending financial aid to students attending less than half time.
— The U.S. Department of Education should simplify the financial-aid delivery system, improve data-collection systems, and disseminate data on annual tuition, price, and institutional expenditures.
— Students and families should do their part as well. Because a major beneficiary of a college education is the individual involved, those with a genuine commitment to their future should shoulder part of the load through careful preparation and financial planning, and by becoming better informed about savings plans, financial aid, and educational tax credits.
Ten Steps to Prepare Your Child for College
1. Investigate and choose a savings vehicle.
2. Begin saving as early as possible. Whatever vehicle you choose, you will be much better off if you start saving early.
3. Encourage your child to challenge him or herself academically.
4. Today, some form of formal postsecondary education or training is required for almost every well-paying job. So encourage your child to aim high, explore all the options, and plan to attend college.
5. The U.S. Department of Education recommends that middle and junior high school students take Algebra I in 8th Grade, Geometry in 9th Grade, and English, Science, and History or Geography every year. Foreign language, computer, and visual or performing art classes are also recommended.
6. If your child has taken the right courses in middle school, he or she should be ready for a college preparatory curriculum in high school. College admissions requirements vary but, as a general guideline, the U.S. Department of Education recommends: four years of English; four years of Math (preferably through Calculus); two to three years of History and Geography, laboratory sciences, and foreign language; one year of performing or visual arts; and challenging electives in such areas as economics, psychology, computer science, or statistics. Your high school guidance counselor should also be able to provide you with information on the college admissions and financial aid processes, or point you toward the right reference materials.
7. There are many resources available, both in print and on the Internet, to help you search for colleges by special characteristics or academic offerings and learn about specific colleges. For example, after financial aid is taken into consideration, a private college can be about the same price as a public institution. Without that information, one might eliminate some private colleges because of incorrect understanding of the cost.
8. Make sure your child takes any required college admissions tests and submits all admissions, financial aid, and — if necessary — campus housing paperwork on time.
9. The federal government, states, colleges, and private organizations all sponsor student aid programs.
10. After you’ve received your financial aid award statements, it’s very important to sit down with your child and make a realistic budget that includes both fixed expenses, such as tuition and books, and variable items such as rent, clothing, and transportation.
Effective Spokespersons On College Affordability
Recent research studies have shown that the most effective spokespersons on the issue of college costs are individuals to whom people can relate and who have real knowledge about the issues involved with financing a higher education. The ideal local or regional spokesperson will be an individual who has been through the financial aid process and is therefore able to give practical advice. In addition, this individual should be someone who inspires people to believe that if he or she can do it, so can others.
Examples of effective spokespersons to consider include:
— Academic leaders, including presidents, provosts, or deans;
— Admissions and financial aid officers;
— Parents of college graduates;
— Current college students (especially first-generation college students);
— A family of college graduates;
— Business leaders;
— Ministers or other members of the clergy;
— Community leaders;
— Well-known local athletes — if they have made a commitment to stay in college and graduate, if they serve as role models (individuals who have put their education before their sports career), and if they have maintained a strong GPA throughout their years at the university; and
— A local media personality such as a news anchor, a well-known reporter, or a radio personality who has been involved with education issues in the community and/or has been shown to value education in some capacity.
It is important that the individuals chosen as spokespeople familiarize themselves with all the documents in this kit, including the message points, Q & A, talking points, fact sheets, etc. These documents will provide a detailed background on the college affordability issue, and help them discuss frequently asked questions that we hope the campaign will help answer.
Campus Events And Community Partnership Ideas
— Financial Aid Seminars: Include in all college visits by prospective students and their parents a seminar on financial aid conducted by the university’s financial aid officers. Create a kit that can be tailored to each university’s needs and distribute it to attendees. The kit should outline financial aid options at the university and provide other relevant information.
— Statewide “Financial Aid Day”: Work with other colleges and universities in the state to host a “Financial Aid Day” (or week, or month) that would include tours of the college, seminars on financial aid, speeches by famous alumni, etc. Promote the day heavily with statewide media. Provide the 800 number and website address for television and radio stations to include in their broadcasts for people wanting more information.
— Recruitment Packets: Include financial aid information in all materials distributed as part of the university’s recruitment program.
Ideas For Working With Local Communities
— Booths at Community Events: Sponsor and run booths at community events, particularly those focused on key audiences (e.g., Martin Luther King Day celebrations, Hispanic heritage events, etc.). Arrange for radio and television crews covering the event or broadcasting live from the event to conduct interviews and draw attention to your booth.
— Community Social Service Events: Identify events such as tree plantings or park cleanups and partner with the sponsoring organization to set up a booth where spokespeople can distribute information, answer questions, and provide guidance on college prices and financial aid.
— Community Fundraising Events: Identify events such as golf tournaments, bike races, 10K runs, etc., and partner with the sponsoring organization to set up a booth where spokespeople can distribute information, answer questions, and provide guidance on college prices and financial aid.
— Community Health Fairs and Screenings: Partner with the sponsor of a health fair/screening to set up a booth where spokespeople can distribute information, answer questions, and provide guidance on college prices and financial aid.
— Local Print and Broadcast Media: Arrange an editorial board meeting with your local newspaper to discuss student aid and college affordability issues. Work with editors and news directors to expand their consumer news to include student aid opportunities. Explore with publishers and station owners the possibility of their sponsoring a student aid fair with local universities.
— Local Churches and Synagogues: Ask local churches and synagogues when they plan to hold social and educational programs where student aid information could be discussed or distributed. Religious institutions are important community gathering places for citizens of all ethnic and racial groups, and local clergy are often prominent community leaders.
— Local Business and Media Organizations: Approach professional associations and groups like the Chamber of Commerce and ask them to promote student aid information. In addition, local TV and radio stations, as well as newspapers, often have active community affairs programs that provide good vehicles for conveying information on financial aid and college prices.
— Leaflets: Promote the 800 number and website by distributing leaflets during large events — sporting events, concerts, university activities. The flyers could be handed out to people as they leave an event or put on car windows.
— Post Offices as Information Distribution Sources: Contact local post offices and see if the postmaster would let you post generic information about financial aid in the lobby of the post office during the peak application months.
— Working with State and Local Representatives: Arrange to meet with members of your state legislature and/or local government to discuss the College Is Possible campaign. These individuals could be asked to include information about where to obtain information about financial aid in their newsletters or add flyers during peak application months to their outgoing constituency mail. Representatives from public colleges and universities could also use visits by state legislators to emphasize the link between tuition and state funding.
Ideas For Partnerships With Local High Schools
— High School Events: Send a delegation of university ambassadors to run a booth at major high school events (e.g., college fairs) to hand out materials and answer questions.
— High School Newspapers/Yearbooks: Work out an arrangement with the local high school newspaper and yearbook to have an advertisement on financial aid with the 800 number and website information included to point students in the right direction for more information. Include the ad in every newspaper issue throughout the year, and buy a full-page color advertisement in the annual yearbook.
— High School Speaking Opportunities: Arrange a guest speaker to address high school class periods and high school extracurricular clubs (e.g., Key Club, band, student council, etc.). Most high school teachers would welcome outside speakers to discuss higher education opportunities.
Ideas For Reaching Middle School Students
— Local Youth Organizations: Approach organizations such as Girl and Boy Scouts, church youth groups, etc., and request to distribute materials and make a brief presentation regarding financial aid options.
— Local “Hangouts:” Identify places where younger children gather (e.g., malls, arcades, diners, etc.) and arrange to have financial aid information available.
Ideas To Reach Parents Of High School And Middle School Students
— PTA Meetings: Arrange to be a speaker at PTA meetings. Hand out financial aid information.
— Book Clubs: Arrange for an author of a financial aid book to be a guest speaker during a book club meeting hosted by a library or bookstore.
— Speakers Forum: Offer to provide a financial aid spokesperson to speak at community events such as the Rotary Club, Kiwanis Club, Lions Club, etc.
Megan Wilson is a teacher, life strategist, successful entrepreneur, inspirational keynote speaker and founder of https://Ebookscheaper.com. Megan champions a radical rethink of our school systems; she calls on educators to teach both intuition and logic to cultivate creativity and create bold thinkers.
