Too many parents of college-bound kids think that colleges have their best interests in mind.
“Yes, apply, we’d love to have you!”
“Need money? We don’t let finance get in the way of an education at Top Choice U!”
Consider, for a moment, that colleges don’t consider ONLY your interests – perhaps they have their own agenda.
What’s their agenda? Two items come to mind:
1. Getting a ton of applications, hopefully more than in the previous year, so they can fill seats and show growth to their prospective students, their alumni-donors and US News and World Report. (Who wants to hear a story about declining applications?)
Oh yeah, they get a fee with each application! 🙂 (Harvard made 2 Mill on application fees alone last year.)
2. They want your money. Sure, they’re “non-profit” institutions of higher education (along with the perqs that accompany that status, including not having to pay taxes!), but, make no mistake, they watch the bottom line. They have a ton of administrative overhead, and those state-of-the-art rock climbing walls, aquatic facilities (they used to be called “pools”) and gleaming residences (formerly, “dorms,”) ain’t cheap either.
Keep this in mind next time you’re struggling to figure out how the heck to apply for financial aid: what forms to fill out (it might be more than the FAFSA), deadlines, and how to avoid mistakes that result in little – or no – financial aid to you after you labor for hours over the forms (“But hey, thanks for trying!”).
Look, if colleges had your best interests at heart, they wouldn’t “low-ball” you with one offer, then negotiate once you stick up for yourself (if you even know you can do this.)
I’m conducting two more presentations as part of my Summer Online Lecture Series, one covers the basics of how the financial aid process and who is eligible (hint: colleges give most of their endowment money to families in the top income bracket). The other is on college application strategies (the first one was on the college essay).
Each registrant gets a recording of all lectures. There’s no charge but I am turning this content into a product that I’ll offer between $97-$297.
– Andy Lockwood
Subscribe to our free newsletter, The College Success Bulletin – recommend it to your friends, family, random passers-by….:)Lockwood College Consulting 497 South Oyster Bay Road Plainview New York 11803 516,882,5464