Poor Economy Affects College Admissions Process
Until now most students considered their May 1st college decisions final. Unless they were wait-listed (and remember, accepting a wait-list offer could mean paying more for college), most students
simply sent in their acceptance and initial deposit and started sporting their new school’s logo on their car and wearing their school’s colors at summer barbeques.
But the effects of this year’s tight economy seem to have trickled down into the college arena, where the Boston Globe says students are being indecisive about their final college choices.
Paying More to Pay Less?
With hearts and pocketbooks aflutter with worries over the economy, students are trying to keep their options open.
Some who are worried about the price of their dream school have even opted to send deposits to multiple colleges-a practice that is highly frowned upon. When the students finally choose which school they will attend at the end of the summer, the deposit left at the school not chosen will be forfeited.
Eeny Meeny Miny Moe
If you’re student is still vacillating between school options at this point (with a deposit safely in place at more than one school) it is time to finally make the choice–if only to give your student closure and some peace of mind.
Most teens need a few months to adjust to the idea of attending college, preparing to move out, and getting in touch with their future roommates; so, the sooner the decision is made, the better. College prices for fall semester of the upcoming year are set, so if your family is in a tight financial situation, now is the time to buckle down and decide what you can–or can’t–afford. And remember, it’s not too late for your student to work on applying for private scholarships this summer to ease the college bill next year!
All the best,
Deborah Fox
Deborah Fox is the founder of Fox College Funding®, a nationwide company that helps families find creative ways to reduce their college costs.
photo: Traffic Sign 30 by sundstrom
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