July 2022 Newsletter
Updated: Dec 16, 2022
Opportunities and Resources
BestFit College Advisors has a full list of resources and tips just for you!
Still thinking of ways to make your high school summer productive? Some young adults secure internships, others choose to travel or do community service, and get a summer job in order to tuck money aside for college. What are you doing? Think about participating in an activity that is consistent with the rest of your application and one that represents who you are and where you want to go. With the junior year behind you, and the senior year fast approaching, it’s an exciting yet anxious time as it kicks off the college application season. To assist with a smooth college application process, I have provided a list of tips including resources to help you.
Tip #1 - College that Meet Financial Need
Colleges Meeting 100% or Most of Student’s Demonstrated Financial Need
The average American family now pays more than $150,000 out of pocket for a degree from a private four-year college. College is an expensive endeavor, and one of the most stressful parts of college planning is anticipated costs. The good news is that there are a lot of schools out there that strive to cover the family’s financial needs in hopes of making the experience more affordable. A family’s EFC (expected family contribution) and the cost of attending are two key factors in determining how much support a student will receive. Learn more about what it means to meet 100% of demonstrated financial need and which schools are able to offer this amazing benefit on the links below.
âž” https://www.thecollegefundingcoach.org/schools-that-cover-100-of-your-financial-need/
âž” https://www.edmit.me/blog/schools-that-cover-most-of-your-financial-need
Tip #2 - Scholarships - It's Never too Early to Start
Scholarships and grants help students have more time to devote to their studies.
About 70 percent of graduates give up a huge portion of their monthly income to student loans, so it can be hard to afford the cost of living. There are scholarships out there for almost everything and many go unused. It takes time and effort to search them out. Start now, it’s worth the effort! Think about this. You spend 2 hours applying for $1,000 scholarship and you win. You just earned $500 an hour for the two hours invested in applying for this scholarship. Isn't it worth it?
Check out the following resources:
âž” FAME (Finance Authority of Maine)
Fame is a free service to help make education more accessible and affordable
https://www.famemaine.com/education/topics/paying-for-college/maine-scholarship
âž” Reach out to Guidance Counselor office at your high school
âž” Going Merry - A free scholarship and financial aid platform offering personalized
matching of thousands of scholarships and grants. https://www.goingmerry.com/
âž” Maine Community Foundation https://www.mainecf.org
âž” Sallie Mae College Planning https://www.salliemae.com/college-planning/college-
scholarships/ High school scholarship program to help seniors in underserved
communities to attend college and other learning institutions
âž” Scholarship Success Video https://www.youtube.com/watch?v=uCLVHQjbqWM
Tip #3 - FAFSA
About 85% of students said they weren’t aware that FAFSA determined their eligibility for more aid than just federal student loans
https://studentaid.gov/h/apply-for-aid/fafsa
For rising seniors entering college in 2023-2024, the FAFSA portal opens Oct 1, 2022
To learn more about filing a FAFSA: check out the links below.
âž” https://www.famemaine.com/education/topics/filing-the-fafsa/fafsa-faqs/
âž” https://www.famemaine.com/education/topics/filing-the-fafsa/fafsa-quick-tips-for-filing-
Tip #4 - Net Price Calculator
Net Price Calculators can be found on a college or university website.
Valuable online tool when evaluating which colleges and universities will be more affordable and which will be budget deal breakers. Learn more about net price calculators at
âž” https://www.cappex.com/articles/money/cost-busting-college-tool
Online tool offered by each college- calculates estimated annual cost to attend.
Compare net price after grants, scholarships, etc.
Some colleges may be more affordable than you realize. Don't rule them out.
➔https://www.famemaine.com/education/topics/paying-for-college/net-price-calculator/
Tip #5 - Building a College List
Self-Discovery is the first step in finding the BestFit colleges. Getting to know your interests, your goals and what's most important to you is the best place to start. Students should start broadly and then narrow their list down to colleges that best fit their needs, interests, style, etc. experts say.
The following steps will get you started on the right path.
Ask yourself some questions
College Search Step by Step
Discuss Financial Affordability with your Family
Explore What Matters Most to You
Search for Colleges
Add to College List
Narrow down List into Three Categories: Reach, Target, and Safety
There are many tools to help with this process. Check them out:
âž” BigFuture from College Board, which has a lot of different variables to search
âž” College Navigator (one of my favorites)
âž” Collegescorecard, which is from the U.S. Department of Education
âž” Higher Ed Data Stories, which is great for searching for particular degrees or programs
âž” College Express another free search engine
âž” The Fiske Guide to Colleges (text)
âž” Princeton Review: Best 387 Colleges (text and website)
âž” Steven R. Antonoff's book, The College Finder and College Match (text)
How Can Parents Help their College Bound Students
Be open and honest with your student about financial limitations and expectations.
It's important for parents to be straight about the costs of tuition and room and board. Most students can't fully understand the idea of spending $50,000 or more per year. Be specific about what you’re willing to pay for and even more specific about what you’re unwilling to pay for. Discuss the hidden costs at college. Some fees are not included in the list of required fees. According to Edvisors, most students will spend $250 to $500 per month on these hidden costs. Limit the number of credit or debit card accounts your students set up. Be clear with them about what you’ll pay for and what is their responsibility. Schedule periodic financial check-ups with your student.
Get guidance on how to simplify this process in any of these areas by reaching out to Cheryl today at BestFit College Advisors at (207) 229-8603.