Choosing a Good College and

Paying For It

Don Betterton
Betterton College Planning
dbett@princeton.edu
bettertoncollegeplanning.com
 Useful Statistics
• Number of high school grads approx 3.3M to 2016-17
• Apps - 58% women, 42% men
• 68% of apps filed on-line
• 70% file three or more apps, 20% seven or more
• There has been a steady increase in early apps
• 420 apps per admission officer
• Average admission rate is 70%
• 68% of high schools rank
• Public high school counselor to student ratio is 247:1
• 37% of public high schools have college counselor position

NACAC Report 2008 Annual Report

 Types of Colleges
(4200 total)
In the U.S. there is a higher education opportunity for every level of
student interest and ability. My categories:

Register and attend (1900)

Routine enrollment process
Specialty schools (400)
Admit on interest and talent
Meet basic standards (1500)
Admit more than 75% of applicants
Competitive (300)
Admit from 40% to 75% of applicants
Selective (100)
Admit fewer than 40% of applicants
 Register and Attend

Career schools (for profit): (850)

Degrees: certificate, associate, bachelor’s, master’s
Cost: typical tuition is $30,000 for associate
Specialize in business, tech, health care

Community colleges: (1050)

Degrees: certificate, associate
Cost: typical tuition is $5400 for associate
Many majors, both career and liberal arts, transfer to 4-yr
 Specialty Schools

For students who have a very specific career interest and

don’t need the typical college experience.

Examples: (400)
• Culinary arts: Johnson & Wales
• Aeronautics: Embry-Riddle
• Art, design, fashion: Art Institute of Philadelphia
• Technology, engineering: Webb Institute
• Business, accounting: Babson
• Performing arts, music, dance: Julliard
• Military academies: West Point
 Traditional 4-Year
• Meet Basic Standards
– Admit rate 75% up
– Average SAT (CR + M/2) less than 550*
– 25% or more have HS GPA less than 3.0

• Competitive/Selective
– 5-year grad rate:
• 50% or more for publics
• 80% or more for privates

– 50% or more of freshmen have SAT over 600, ACT over 25

– 3.5 average high school GPA

– Roughly 1/3 from top 10% of high school class

 Personality and Career Assessment
• As a first step in the admission process, it
may be a good idea to make a connection
between --
Personality characteristics
Areas of interest
College courses, majors, and schools
Career choices

• Collegeboard.com-- My Road
 Preparation
Meet Basic Standards, Competitive, Selective

• Take pre-college courses

– Meet distribution requirements (16 core courses)
• English (4)/Math (3-4)
• Science/Foreign Language/History or Social Studies (3-4)
• Arts elective
– If trying for competitive/selective take higher level courses –
Honors, AP, IB
• Contribute outside the classroom
– In-school
– Outside of school
– Volunteer service
– Work
 The College List
• Getting started – initially cast a wide net
– Academic interest, major, career goals
– A “feel” for size, location, academic and personal fit
– Sources of information:
• Family, friends and relatives
• Guidance counselors, teachers
• Internet – search programs, browsing college sites
• Visits
• Independent counselors
• Balance the list on admission chances and cost/aid
considerations**
 Standardized Tests
• SAT or ACT
– How common?
– How important?
– What’s the difference?
• Preparation
– No cost, test prep books, internet instruction, classes,
private tutors
(ePrep recommended, eprep.com)
• Writing sections
• SAT Subject tests
 Admission Factors
• Grades in good courses
• GPA
• Class rank
• Tests: SAT/ACT/SAT Subject (AP)
• Achievement/school recommendations
• Interview/essay
• Special consideration – minority, athlete,
legacy, other
 The Admission Application

• When to apply – early or regular?

– Plusses and minuses of Early Decision (I&II)
– Compare to Early Action, Rolling
• How to file – paper or electronic?
• Which one – Common Application or college’s
own application?
 The Admission Rating System
• Academic rating
– Quality of high school courses, GPA, class rank, SAT/ACT,
academic achievements

• Personal rating
– Combination of many things, harder to rate
• Achievements, talent
• Volunteer, work
• Personal attributes

Note: In general academics count twice as much as personal

 ACADEMIC RATING TABLE
Average Rank Courses SAT ACT SAT Acad
GPA 11th Grade (CR + M/2) Composite Subject Awards
(UW) 5 solids

8 A+ 4.0 1-2% IB or 750-800 35-36 780-800 Intern/

97-100 All AP National

7 A 3.9 3-5% 4 AP/1 H 710-740 33-34 760-770 Region/

94-96 State

6 A- 6-14% 3 AP/2H 680-700 32 730-750 County

3.7-3.8
90-93
5 B+ 15-20% 1,2 AP 650-670 29-31 680-720 School
3.3-3.6 3/4 Honors
87-89
4 B/B- 25% Most 600-640 26-28 630-670 None
2.7-3.2 Honors
80-86
3 C 33% Some 550-590 23-25 590-620 None
2.3-2.6 Honors
77-79
2 C 50% All Pre- 470-540 19-22 500-580 None
2.0-2.2 College
74-76
1 C- Below Some Pre- Below 470 Below 19 Below 500 None
Below 2.0 50% College
 Personal Ratings
The personal rating is based on a combination of Personal attributes primarily come from school and
teacher reports and required interviews. The categories
attributes in different areas like: are:

• Respect accorded by faculty

• Achievement • Class participation
• Academic achievement
• Talent • Intellectual promise
• Writing quality
• Leadership/positions of responsibility • Creativity
• Work habits
• How you are revealed in the • Maturity
application, interview • Motivation
• Leadership
• Service to others • Integrity
• Reaction to setbacks
• Overcoming obstacles
• Concern for others
• Personal attributes* • Self-confidence
• Initiative
• Independence
 Non-Academic Other Service to Personal
Talent Leadership
Achievement Achievement Others Characteristics

Rare for Extraordinary One of Top Few

8 International/ National Rare Quite Extraordinary
High School Student Contribution in My Career

Regional Significant Role in Outstanding

7 Unusual Unusually Strong Extremely Strong
State Important Service Top 1-4%

Well Beyond Excellent

6 County League Quite Strong Important Widely Respected
Typical Service Top 5-10%

5 Major School Very Good Above Average Well Meaning Service Very Good Very Good

Minor School Good

4 Good Typical Typical Contribution Good Good
Class

3 Class Average Minimal Only What is Required Average Average

Non-Academic Achievement:School related group activities such as government, newspaper, debate, theater, music, athletics
Talent:Individual achievement in areas such as music, art, theater, dance, creative writing, athletics
Other Achievement:(Outside of school) such as scouting, religious, club sports, employment
Service to Others:Volunteer work to disadvantaged, elderly, hospital, etc.
Leadership: Attributes combined with positions of responsibility such as elected or appointed positions
Personal Characteristics:Your expectation of how your teachers and counselor would rate you on traits like: respect accorded by faculty,
work habits, maturity, motivation, integrity, concern for others, self-confidence, initiative, and independence
How Do Student Ratings Compare to
College Selectivity?

• Register and Attend

– Graduate from high school w/o negative personal

• Specialty Schools
– At least average grades
– Accomplishments/talent that match selectivity
level
 Traditional 4-Year Colleges

Meet Basic Standards

Academic + Personal : 5 to 7

Competitive
Academic + Personal: 8 to 10

Selective
Academic + Personal: 11 and 12

Highly Selective
Academic + Personal: 13 and 14
 Special Categories
– Level 1
• Recruited Div I Athlete
– Level II
• Affirmative action minority
• Non-scholarship athlete
• State resident for some
publics
– Level III
• Legacy
• Early Decision
• Low income, disadvantaged,
obstacles ( II)
• Special institutional need (II)
• Connections (II)
– Level IV
• Geography
• Demonstrated interest
• Misc: sib enrolled, full pay
 Adjustment for Specials
• Strong specials, e.g., Minorities and Athletes, might add 2
points to rating
• Legacy and Early Decision might add 1 point
• Other categories vary from ½ to 2 points

For example, an affirmative action minority, 5 Academic/4

Personal (a total of 9) would have the same admission chance
as a Regular 11.
 College Evaluator
Many applicants are like you. SR=CR
Your record is similar to a typical admitted student at this college so it is a good choice to
include on your list

You are more qualified than a number/than most. SR +1/2

Considering this college’s overall applicant pool, your credentials place you in the upper half
of the group. You have a better than even to a quite good chance of admission

You are more qualified than nearly all. SR + 3 or more

Although nothing is certain in modern day college admissions, you should count on being
admitted to this college. If this college has a policy of giving merit aid to freshmen (as most
colleges do), you have a good chance of receiving a scholarship.

A number/most are more qualified. CR +1/2

You will have some stiff competition with the applicants to this college. There are, however,
some admitted students with credentials similar to yours…

Nearly all are more qualified. CR +3 or more

This college is a long shot for you. Nearly all students admitted to this college have stronger
overall record than you indicated.
HS14 HYP, Stanford, MIT, Cal Tech

HS13 Columbia, Brown, Dartmouth, Penn, Duke, Wash U, Amherst, Williams,

Pomona, Cornell, Cooper Union, G’twn, Cal, UCLA, Bowdoin
SEL USC, UVA, William & Mary, JHU, NW, Vandy, ND, BC, Middlebury,
12 Carleton, Wesleyan, Haverford, Chicago, Emory, Carnegie-Mellon,
Davidson, Rice, Lehigh
SEL Michigan, UNC, NYU, GW, Colgate, Oberlin, Bucknell , Holy Cross,
11 Service Academies, Lafayette, Rochester
COMP TCNJ, Maryland, SUNY Binghamton, Illinois, RPI, Villanova, Miami,
10 Richmond, Wake Forest, Furman, Tulane, SUNY Geneseo, F&M,
Dickinson
COMP Fordham, Northeastern, Providence, BU, Wisconsin, American,
9 GATech, Skidmore , Stevens, LMU, Case Western

COMP Rutgers, UConn, Syracuse, Pitt, Illinois, Minnesota, St Lawrence,Ohio

8 State, Penn State, Delaware, St Josephs
COMP/ Fairfield, BYU, Loyola MD, Santa Clara, Quinnipiac, Drexel, VATech,
MBS
7
Iona, Hofstra, Clark, NC State

MBS Drew, Vermont, Juniata, Rowan, Monmouth, Clarkson, St Johns, UNH,

6 Ithaca, Rhode Island, La Salle, NJIT, Seton Hall
 Do the student ratings and the college matching
make sense?
Kerry 6+/6- 3.9 top 7% 670 SAT 3AP, 2H
Dance, obstacles: 4 high schools, type 1 diabetes
UCLA (12*), W/L Princeton (14), legacy

Alex 3/3+ 2.7 top 30% 510 SAT regular courses

Swimmer, but not recruited
UNH (6), reject Chapman (9)

Krystle 6+/4 3.9 top 10% 520 SAT 4AP, 1H

Routine personal
U MD (10*), reject NYU (11)

Addie 7+/6 4.0 top 3% 760 SAT 3AP, 2H

V. g. school activities, leadership, nt’l level extemp speaker
Princeton (14) ED, legacy

Emily 7/5+ 3.8 top 3% SAT 750 IB program

Strong school activities , leadership, circus performer
Princeton (14) ED, legacy
 More examples
Eric 6/5 3.7 32 ACT (710) AP/IB, 5’s on 2 APs
State ranked fencer, music, lots of service – Kids Rock, Emory Schp
Emory (12) ED

Max 4+/4+ 89 avg 630 SAT regular courses

Leader national caliber robotics team, service to aunt with MS
Support from Penn and Lehigh faculty
Lehigh (11*) ED

Matt 5/4 3.3 670 SAT 2AP 1H

Some tennis and soccer, sports editor of newspaper,
V.g. essay, expressed interest, visit, 2 interviews
Syracuse Newhouse (10*) ED

Katie 6+/5+ 4.0 top 5% 680 SAT 1AP 3H

Some school activities, state/national competitive dancer
Richmond (10) ED $10,000 Richmond Scholar

Cassidy 7-/4 3.6 top 20% 750 SAT 800’s SAT Subj 4AP
State/National Chem, Math, Physics awards routine activities
RPI (10) $8000 schp. Schps @ Rutgers (8), Stevens (9)

No MIT, Harv, Stan, Cal Tech, Col, Rice, Prin, Cornell

WL Wash U, Carnegie Mellon
Paying For College
 Saving vs Borrowing
Saving Beats Borrowing Hands Down

• Saving
– Start at age 5
– 13 years to college
– $2000/yr, $167/mo
– 6% return
– Invest $26,000
• Borrowing
– $10,000/yr
– For 4 years - $40,000
– 10-year repayment
– 6.8% interest rate

$26,000 = $40,000 $40,000 = $55,200

 Are You “Penalized” for Saving?
Financial aid treatment of savings
• Assume you have $100,000 in savings or investments.
(Home equity and retirement funds don’t count.)

• The asset protection allowance is about $50,000.

• This leaves “taxable” assets of $50,000.

• About 5% of this is added to the EFC (Expected

Family Contribution.)

• The $100,000 increases your EFC by $2500.

 Where to Save
• Regular Investments
• College-specific
– 529 plans
• Pre-paid tuition
• Savings
• References: collegesavings.org, morningstar.com
• Don’t forget the grandparents
• 65% say they plan to help
 Cost/Aid
• College costs 2008-09
(Tuition, room, board, personal, transportation)
– 4-yr public in state: $18,300
– 4-yr public out-of-state: $29,200
– 4-yr private: $37,400
– 2-yr public (T & books) $ 3,500

• Competitive colleges tend to be more

expensive, but give more aid. **
 The World of Financial Aid

• Good news – there is a lot out there

– About $160 billion in 2007-08
• OK news – most of it is based on need
– About 90% in grants, loans, work-study
Rest is in merit aid (scholarships)
• Not so good news – majority is loans
– About 60% in student or parent loans
 Need-based Aid
• Early on make an estimate of whether or not you will
qualify
• Use Web-based Expected Family Contribution (EFC)
estimators
– Collegeboard.com (all purpose **)
– Finaid.org (very good aid site)
• Compare to college costs
• Note “Yes,” “Maybe,” or “No” for need aid
• Look for merit regardless
 If Aid Estimate is Yes or Maybe

• Don’t push aid matters into the background.

– Check colleges for aid application rules

– Complete aid applications – FAFSA, PROFILE
– Check colleges for aid policy (esp. PROFILE colleges)
– Special circumstances – contact aid office
 Keep Looking for Merit Aid
• Eligibility scholarships
• Affiliations, memberships
• Talent – academic and other
• College merit awards ** (top 20% rule)
• Scholarship search programs
– National, regional, and state
– Don’t pay
• Local scholarships
 Deciding Where to Attend

• Check colleges for:

– Meeting career goals
– Offering courses/major
– Have activity at right level
– Comfortable with size and location
– Affordable
– Intangibles – has the right “feel”