Watch the full special Thursday at 7:30 p.m. on NBC10 Boston.
Getting your kids ready for college is a long journey and a team effort that requires a lot of time, work, and resources.
There are so many things that parents and students have to think about as they head off to college - There's too many to list. And that's where we hope to help you.
FINANCIAL ADVICE
Some of the most important advice you can give your high school graduate is how to make good decisions when it comes to spending, saving, and borrowing money.
If they master that in college, it should set them up for financial success in the future.
Some of the things to look out for in a credit card include good perks and no annual fee.
Many of the cards recommended for students offer cashback for purchases the first year, or unlimited cashback for certain spending categories.
Once you’ve locked down your tuition and finances, it's time to spend some money on school essentials.
According to a report by the National Center for Education Statistics, the average cost of books and supplies for a first-year college student was $1,226 for the 2020-2021 academic school year. The average cost of a new textbook goes for around $100.
The good news is there are several alternative options. Some publishing companies have gone digital, now offering eBooks, which are significantly cheaper. Students can also check out their campus library for textbook rentals. There are also several websites online that sell used books for a fraction of the price. Talking to the professor about alternatives can also be a good option. In some cases, the professor may scan and upload the reading for the class – saving everyone a lot of money.
Another big issue on college campuses across the nation is food insecurity.
Students will have to juggle supplies with key essentials.
But federal aid might be available. In Massachusetts, most low-income students attending a community college are eligible for SNAP benefits. Many states have their own restrictions when it comes to who is eligible and if you’re a college student looking for help. In Florida, only students who participate in state or federally-funded work study are eligible to receive SNAP. Most colleges and universities also offer a food pantry on-campus.
There’s a ton of information on cost saving measures, but students and parents need to get an idea of how much they could end up spending at these schools. We took a look at statistics from ValuePenguin and the Education Data Initiative.
Nationwide, the average cost of tuition for a public, in-state school is more than $25,000.
It's slightly higher in Massachusetts at $29,000.
Out-of-state tuition jumps to nearly $41,000.
And for a private, non-profit school, expect to pay over $50,000.
Of course, to deal with those high costs, many Americans take out student loans and that has led to a mountain of student loan debt.
As of May, the Federal Reserve reports Americans owe $1.7 trillion in student loan debt. According to the Education Data Initiative, the average student borrows more than $30,000 to pursue a bachelor’s degree.
And here's a troubling statistic. A study by the Government Accountability Office found many colleges and universities don't tell the truth about their tuition bill. We spoke to Melissa Emrey-Arras, the director of higher education issues at the GAO. She says 91% of schools are failing to provide the actual cost to students in their financial aid offers.
“It represents two-year colleges, four-year colleges, public schools, nonprofits, schools, for profit schools, all of the colleges -- And we are very troubled by that,” said Emrey-Arras. “We're seeing colleges still failing to provide basic cost information to students and their families despite the availability of that federal guidance. And to us, that means that things need to change now.”
You don't have to take out a mortgage to send your kid to college. There are several ways to keep tuition costs down -- including haggling with schools.
There are resources, like the Bureau of Labor Statistics Occupational Outlook Handbook where you can get a sense of your future earnings potential. AAA offers free college planning and student loan advice for its members.
Scholarships don't have to be boring. The ‘too cool to pay for school scholarship ‘asks students to simply fill out an application. the winner of a $1,000 scholarship is selected through a random drawing. If your child plays the video game Minecraft and you've questioned whether it was a waste of their time, consider this: students can write a short essay about how Minecraft can be a positive influence within their education and career development and be eligible for a $2,000 scholarship.
There’s an easy way to find these great scholarships. It starts by going to the website scholarships.com. Once you sign up, you can search for specific interests. You can browse by academic major, SAT score, artistic ability, athletic ability, and religion. Parents can also sign-up to search for scholarships. The website also gives students a chance to build their own profile. Once they do that, they can get a personalized list of scholarships they can apply for -- making it a lot easier to start tackling those applications.
For high school seniors, this can be a huge time commitment. It’s essentially another piece of homework for students, on top of their busy senior year schedule. Kids need to make sure they are setting aside enough time to apply for the scholarships-- and keep applying every year they are in school.
One way to save on your undergraduate studies is attending community college. The first two years at a four-year college often involves taking basic English, Math, and Science classes. You can take similar courses at a 2-year community college -- at a far lower cost. If you want to pursue a bachelor's degree after those two years, you can transfer your credits to a 4-year university.
CAMPUS SAFETY
For students who are focused on studying - and socializing - safety may not be front of mind. until something happens. Some college students in Boston got a real-life lesson in safety and security -- the hard way.
It may be a good idea to look at reviews of the building management company before signing a lease, and steer clear if past tenants have had problems. Police suggest that students follow the police and community pages on social media in the city or town they’re living in, so they know what’s happening in the area. Law Enforcement officials say kids need to be aware of their surroundings, not walk with earphones in and music blaring, and pay attention to their surroundings
Now, college campuses are typically safe, but they're not immune to crime. The most common campus crimes include burglary, motor vehicle theft and sexual assault. Colleges and universities must report their latest campus crime statistics and disclose their safety and security policies on their website.
Many campuses require key-card access to get into any residence hall or academic building. There are also police-call boxes on campus and most schools have campus security or their own police department.
It’s also important to always update emergency contacts. Having a valid phone number or email on file can help schools send out critical alerts, in case of an emergency.
According to Niche, the top 3 safest college campuses in America are Geneva College in Beaver Falls, Pennsylvania, Bay Path University in Longmeadow, Massachusetts, and Concordia University in St. Paul, Minnesota.
Most people won’t be living on their own after high school. Many will have to deal with at least one roommate. Colleges offer a questionnaire students must accurately fill out to receive a room assignment. This can be a hit or miss if people aren’t accurate with their responses.
SOCIAL MEDIA
For most parents, social media was not a consideration when they applied for college. However, for kids it's usually a big part of their lives. Perhaps, those teens haven't considered that what they post online could influence where they get into college.
There are ways students can and should use social media to their advantage in the college application process. They might want to create a LinkedIn profile where they can highlight major accomplishments that may pertain to a future career interest or skill and provide a link to the profile as part of their application.
Whatever route your kids decide to take -- support them. Things can change from now to when they start college. As parents, it is important to remind them to stay focused on what they're doing, but also recognize the pressure they'll be facing.
It will all be worth it at the end.
