Economic Changes in Higher Ed

As the New Year kicks off, now is a great time to begin your college search (Juniors) and finalize your college plans (Seniors). It is difficult to predict how college admission and enrollment numbers will change this year, as many colleges buckle down to weather the current economic storm. Three things that current juniors and seniors might want to consider as they continue their college search and decision process:

1. Budget adjustments. Even the most financially stable, well endowed, and prestigious universities have instituted a plan of action that will impact students at their respective schools. How will these plans impact your education? Are you a science buff that is looking forward to the new science building? Many schools have suspended new construction or large building projects for the next year. In what areas are they cutting costs?

2. Financial aid. Some colleges are finding it a challenge to pay for their current students, as many of those students have new financial need. Changes in parental income, home values, and a slowing economy have changes the financial landscape of many students. How colleges are accomodating this increasing need for aid is a question you'll want to have answered.

3. Academic hiring. Many universities have frozen hiring for the foreseeable future. What are class sizes now, and how do they anticipate that changing as faculty openings remain unfilled? In what acadmic departments do they anticipate this having the most significant impact?

In addition to budget freezes and immediate adjustments that are already impacting colleges and universities across the nation, the upcoming budget cycle has yet to be set. How will colleges adjust for significant decreases in endowment size, a foreseeable drop off in alumni giving, and tighter budget lines all around? The actions outlined above are immediate rather than planned. . . As budget planning commenses for the next budget cycle, more significant cuts should be anticipated.

Why is college admission so competitive?

A recent survey by the National Center for Educational Statistics provides a clear picture of why (and how) college admission has changed so drastically in the past thirty years.

1. A larger % of high school students plan to go to college. Whereas years ago, less than half of students expected to attend college, that number has significantly changed.

2. Women attend college in much larger numbers than in the past.

3. Minorities attend college in much larger numbers than previously.

4. The population of college and high school age students is larger than ever before.

As with all trends, there are counter trends to be considered. The largest is that colleges and universities, two year colleges, technical institutions, and for-profit educational options continue to develop and grow. There are more options for furthering one's education than ever before. As indicated in a previous post, colleges are also increasing their enrollment to accomodate a larger number of students than ever before.

What does this mean to you? There are more options than ever before but there are also things you need to consider when applying to schools. Are you being reasonable in your school choices? Does your high school record look similar to other students who have been admitted to the programs you are considering? The most important thing you can do to get admitted to the best program for you is to research your options well and be realistic about your strengths, weaknesses, and opportunities.

Yale expands class size

Yale College recently announced the expansion of their undergraduate class size for the class of 2013. The class will increase by approximately 15%, or somewhere around 750 students. This addition is intended to offset the high demand for admission and enrollment at Yale, increasing the number of students they can admit for each class.

This change is in addition to the new financial aid policies that Yale and others of her ilk have implemented, minimizing the amount of loans students will be required to take out as a part of their financial aid packages. While these schools are exploring new territory as they continue pioneering the world of higher education, it is important to keep an eye out on schools that are following their suit. It is important to believe that the school you (or your child) attend (s) has an eye toward continued progress, benefit and improvement, rather than exploitation, short sightedness, and/or lack of social conscience.

Ask these questions of your prospects in admission and financial aid:

Have you seen a drastic shift in the diversity of your incoming classes over the coming weeks?
Do you anticipate any changes or increases in your financial aid policies and/or budget over the course of the next 5 years?
What is the average debt for graduating seniors?
How does the school plan to adjust for future changes in high school student demographics, and financial issues?

Standardized Tests and College Admission

Standardized tests for college admission. . .they seem to be the bane of the college bound high school student's existence. It has been argued that the tests are biased against non white, low income students. Ironically, the SAT was created decades ago with the intention of measuring students across all high schools, geographies, and backgrounds. It was meant to open the doors of elite institutions such as Yale and Harvard, to those students not among the private school elite.

That being said, the tests no longer seem to be serving this purpose as effectively as they once did. As a former college admission officer, I've found that these tests help to understand a student's abilities in the context of their school. Other methods and information can be used to replace tests as a method for evaluating a student for college admission. Many schools have already formalized this "replacement" of standardized tests with other methods. Some schools require writing samples in place of test scores. The National Center for Fair and Open Testing lists the many colleges that do no require standardized tests such as SATs or ACTs for college admission. Schools added this year include Wake Forest University, one of the more prestigious schools on the list.

While standardized tests are used in many college admission decisions, this list can certainly provide options for those students that are philosophically opposed to testing or those that do not test well, but perform well in other areas of their academic career.

Rising College Costs & College Affordability

How much is college going to cost in another 4 years? 10 years? 17 years? Parents everywhere are wondering. Rest assured, this is a topic that will continue to stump even college presidents in the coming years. Robert Zemsky, at the University of Pennsylvania has some thoughts on the topic. First of all, like a jewelry store or a car lot, the price of tuition is not the amount you pay when you finally make your purchase. Financial aid, scholarships, and special programs are used to offset the cost.
When looking at your college choices, it is important to remember that the ticket price of the college is not the amount you will pay. As you narrow your options and determine to which colleges you should apply, keep an open mind and wait until the final verdict is in!

Is community college a good option?

Many of you are wondering if community college is really an option for you. Community colleges serve a vital purpose to the higher education system. In the state of Pennsylvania, the rate of students enrolling in a 2 year college currently outstrips those enrolled in 4 year colleges and universities. What are the benefits and drawbacks and how do you know if this is an option to consider.

Pluses
1. If finances are a major component to your (or your child's) ability to pursue higher education, community college is the least expensive option, without considering scholarship and financial aid. If you will not qualify for either scholarship or financial aid, community college is certainly an inexpensive alternative. This allows you to pay less money for 2 years of schooling and then transfer those credits.
2. If grades and/or standardized test scores are an issue in getting into the college of your choice, a year or two at community college can show a bit of stability and/or improvement.

Concerns
1. Not all credits transfer and/or will get you finished with your major in 4 total years. Often times, you will need 3 years to finish your coursework for an associates degree at community college due to prerequisites, scheduling, and/or space availability. In addition, once you have completed the program/courses, your courses many not all transfer (depending on the college you are transferring to) and you may need different courses than those taken to complete your planned major.
2. Using community college as a way to improve your chances of admission is dicey. Even if you do your best work and attain all A's at the community college level, it is difficult for admission officials to "register" how you will do in their more rigorous college curriculum. Financial aid at many schools is less "available" to transfer students as the class financial aid resources have usually been spent (and overspent) to fill the freshman class. This is not true across the board and will vary from college to college.
3. Transferring will mean integrating yourself into a community that has already been through their "first day" together. You can certainly become involved and connected within the college community, but you will need to make a concerted effort to do so.

Community colleges are meant to feed into the state school system. If your intention is not to go to a state college, you will want to seriously investigate your community college options as well as the options of the 4 year colleges you will eventually hope to enter. These 2 year programs can be a great option for the right student.

Oh, how times have changed.

The past 6 years have changed the face of higher education admission. The number of college aged students has increased, those students have doubled the number of colleges they apply to, and as a result, college admission rates have continued to plummet. Highly selective schools, historically those schools that accept 30 percent or fewer of their applicants, are now in the single digits for the percentage of students they accept.
This shift has increased the stress for students and moved forward the timeline for when students and parents start thinking about college.

How can you decrease college related stress?
Knowledge.

Learn about colleges. Start visiting them when you are driving through - on vacation, on the way to grandmom's house, etc. Make it a point to write down what you like/don't like about the school (students). Use that information to start a list of colleges that you want to look into. You'll learn about the process, about what each college says they are looking for, and about what you are looking for in a college.
This is a great place to start, and should lead to a feeling of empowerment - you are in control of the college search.