Meera Menon, M.D.

Chair, Caucus on College Mental Health, American Psychiatric Association

How does pursuing higher education affect students’ mental health?

While pursuing higher education can come with its own set of stressors, it actually can be a really protective environment. Being a college or university student provides the structure of having a set schedule, a set routine. Meals and housing are more readily available. There are coordinated support systems, places to exercise and do different wellness activities, and places for mental health treatment.

Largely, students and young adults tend to be healthier while living on a college campus. I think there are things to be wary of, like learning how to transition to living life on your own without close family supports. Students also need to learn how to navigate decisions about substance use.

Have there been any recent developments in higher education that have significantly impacted students’ mental health or their ability to access mental health resources?

During the COVID-19 pandemic, many universities had access to CARES Act funds, and a lot of those funds were used to support mental health resources. They created funds to support students who needed to be in the hospital for mental health reasons, or to seek different, higher levels of care, or even ongoing psychotherapy in some schools.

Ohio State University, for example, has been able to maintain this fund and continue to support students’ mental health long after the height of the pandemic. Many other colleges and universities are trying to create more programs to improve the mental health of students.

Another thing that’s happening more and more on college campuses is the development of preventative programming to build resilience and mental wellness — trying to prevent students from needing to enter treatment more urgently by giving them the skills they need to address their mental health upfront. There’s been a shift to that more preventative support, which I think is really helpful.

What mental health resources are available to and should be utilized by students in higher education?

Mental health resources do vary from college to college, so what I would recommend is using your residential adviser (RA) or a faculty member as resources to identify some of the different resources on campus. You should also have opportunities during orientation to learn about some of the different resources available to you.

Many campuses have counseling centers that include therapy and may even include medication management. If your college has a student wellness center,
those typically have a lot of really good programs to help improve overall mental health and wellness.

Here at Ohio State, the Student Wellness Center has financial coaching.  They might not tell you specifics about where to invest your money, but they’ll talk to you about the risks of certain types of investments and how to make a budget, both of which are stressful things to learn about once you’re on your own. We also have nutrition coaching, so if you want to meet with a professional dietitian, you have that available.

I would also recommend that you look at the different resources on campus to learn coping strategies. For example, your college counseling center will likely have programs where they teach how to deal with and overcome perfectionism, or how to manage anxiety around finals and other big exams.

One last thing I’ll recommend is for students to get involved. It’s really easy to feel isolated on campus because you’re in a new environment and you’re not necessarily bringing all your friends from childhood with you. Getting involved in a student organization that interests you can be a really good way to make friends and build your community, which is an important way to avoid feeling isolated.

I think a lot of college students are feeling more and more isolated because of aftereffects of the COVID-19 pandemic.  It is really useful to join these different organizations if only to learn how to make friends and build those connections.

The post How College Students Can Prioritize Mental Health While Living on Campus appeared first on Education and Career News.

Jorge Valencia

Executive Director and CEO, Point Foundation

“Queer colleagues of mine, all native Texans like me, have been evacuating the state as legislation and attitudes become more hostile,” said Fox Ostrowski-Guevara (they/he), a University of Texas student in Austin. “My applications to graduate schools on the East and West coasts, hopefully, will be my ticket to flee. I am counting on it.”

Unfortunately, when they do have the opportunity to leave their unsupportive communities, LGBTQ+ students often face continued problems on campus.

In a collaborative report with the Williams Institute, the nonprofit Point Foundation found that LGBTQ+ students are twice as likely to experience unfair treatment from administrators and staff. It doesn’t stop there; LGBTQ+ students are also three times more likely to experience poor mental health and have $14,500 more in loans on average than their non-LGBTQ+ peers.

This is why for more than two decades, Point Foundation has been supporting LGBTQ+ students with scholarships, leadership programming, mentorship, and community.

Time for action

For many years, LGBTQ+ students have had increasing financial need, as indicated by the avalanche of applications we receive each year. With legislatures stripping LGBTQ+ people of our rights and creating an atmosphere of fear, assisting LGBTQ+ students both financially and with a supportive community will become even more vital.

As anti-LGBTQ+ bills amass, now is the time to support LGBTQ+ students and youth. The LGBTQ+ students in classrooms today are the leaders who will steward a more accepting, equal society in the future.

This Pride, and throughout the year, advocate for LGBTQ+ rights, vote rainbow, and show up for LGBTQ+ people. It will take the effort of the nation to regain rights LGBTQ+ people lost in the past year. To this end, Point Foundation created this resource to advocate for LGBTQ+ students, and a list of things LGBTQ+ students said they would like to see change on campus.

The post Support for LGBTQ+ Students Is Critical appeared first on Education and Career News.

Dr. Michelle Samuels-Jones

Senior Director of Equity, National Endowment for Financial Education (NEFE)

Financial education plays a crucial role in finances and our overall well-being. Unfortunately, many schools do not prioritize financial education instruction, leaving students unprepared to manage their finances and plan for their future.

A study by the nonprofit National Endowment for Financial Education (NEFE) reveals strong public support for teaching financial literacy in schools. A nationwide opinion poll found that 88% of Americans think their state should require a semester- or year-long personal finance course for high school graduation, with 80% of adults wishing they were required to take such a course during their high school years.

This widespread support reflects a growing awareness of the importance of financial education in preparing young people for adult financial responsibilities. However, for many, pervasive inequalities exist in the access to and the quality of courses. For example:

• Only 5% of low-income or predominantly underrepresented schools require personal finance classes. In contrast, higher-income and mostly white schools are three times more likely to offer a dedicated course.
• High schools with more than 75% Black or Hispanic students are half as likely to offer a course compared to schools with fewer than 25% Black or Hispanic students.
• Rural high school students are over three times more likely to take a personal finance course than those in urban areas.

As we advocate for change, these disparities present an opportunity, particularly in K-12 education. To date, 25 states have implemented or are in the process of implementing a high school graduation requirement for personal finance courses — a significant increase from 2019, when just six states had such a requirement. This means just over 40% of all U.S. high school students will be required to take a course. While this momentum is encouraging, we must champion equitable practices that ensure effective financial education for all.

Trust and discrimination in financial services

Policy changes and targeted initiatives have increased access to financial resources and opportunities for marginalized and vulnerable populations, yet serious disparities persist.

Consumer trust in the financial system is among the systemic factors that impede access. According to NEFE, trust in financial institutions dropped in 2023 after several high-profile bank failures, with underrepresented groups experiencing the most significant decline in confidence. Overall, faith and confidence in the financial system dropped from 45% before the bank failures to 39% afterward. Notably, trust in financial institutions to act ethically and honestly also declined among various race and ethnic groups:

• Trust among Black/African American adults dropped from 45% to 31%.
• Trust among Hispanic/Latino adults fell from 50% to 36%.
• Those identifying as another race, or two or more races, experienced a drop from 62% to 56%.

Discrimination and bias also prevent people from engaging with financial services. In another nationwide poll from NEFE, U.S. adults reported experiencing discrimination or exclusion within the financial services sector:

• 16% say they have faced bias, discrimination, or exclusion.
• 18% feel blocked or discouraged from engaging with financial services or products because of how they are designed, marketed, or offered.
• Women (31%) are more likely to report negative experiences than men (11%).

Equipped for success

While financial education alone is not a remedy for discrimination and bias in financial systems, effective financial education is essential in equipping marginalized and vulnerable populations to better navigate the financial landscape.

Similarly, financial education is one part of a Personal Finance Ecosystem comprising many factors determining financial well-being. Therefore, our ability to reimagine and shape inclusive, equitable approaches in areas like budgeting, saving, investing, managing debt, and credit-building position financial education as a tool to help individuals gain confidence, make informed decisions, and be able to spot financial exploitation.

Policy changes and partnerships within the public and private sectors can further advance this goal. Still, we must have a shared commitment to ensure everyone across perspective, background, identity, and culture are expected to and can live their best financial life.

The post The Importance of Equity in Financial Education appeared first on Education and Career News.

And for most students, the SAT is a reason to say “yes.”  After experimenting with test-optional policies during the COVID-19 pandemic, many schools — including Dartmouth, MIT, Caltech, and Purdue — are reinstating testing requirements for admissions. And those that remain test-optional continue to use scores for critical decisions about admission, student support, and class placement.

“Standardized tests are a means for all students, regardless of their background and life experience, to provide information that is predictive of success in college and beyond,” explained Hopi Hoekstra, Harvard’s dean of the Faculty of Arts and Sciences, in the school’s recent decision to once again require test scores for admission. “More information, especially such strongly predictive information, is valuable for identifying talent from across the socioeconomic range.”

A useful tool

A wealth of recent research found that amid all the components of a college application — grades, essays, extracurricular activities — test scores are among the most useful in identifying students who are ready to succeed. That’s because admissions officers know that not all students have the same support and resources, so they take care to read test scores in context of a student’s school and life experience.

“Our goals are to attract the best and brightest students, and to make sure every student is successful once they are here,” explained Jay Hartzell, president of the University of Texas at Austin. “Our experience during the test-optional period reinforced that standardized testing is a valuable tool for deciding who is admitted, and making sure those students are placed in majors that are the best fit.”

The SAT and PSAT are also crucial steps for helping students learn more about college. Taking an exam, especially early in high school, can open the door to schools and career options that students may never have considered. “After I took the PSAT in my junior year, universities that had received my score flooded me with letters urging me to apply,” wrote author and Harvard graduate Emi Nietfeld, a first-generation student who doubted her own college potential. “I set my sights higher.”

Many educators are advising students who are on the fence about taking the SAT to take it and see how they do. And the SAT is easier to take than ever — now fully digital and nearly an hour shorter. Taking the SAT is a way for all students to aim higher, consider new options, and look hopefully to their path beyond high school.

To learn more, visit satsuite.collegeboard.org

The post The SAT: A Reason to Say “Yes” appeared first on Education and Career News.

Justin Draeger

President & CEO, National Association of Student Financial Aid Administrators (NASFAA)

Justin Draeger serves as the primary voice of NASFAA and as the liaison between the association members, the U.S. Congress, federal agencies, and the media. Most of Justin’s career has been devoted to assisting disadvantaged populations achieve their educational goals and better their communities.

The outlook on financial aid and college enrollment has been challenging this year. The rollout of the new FAFSA has been riddled with errors and delays, and many are still waiting for information on how much financial aid they’ll receive. But in the meantime, students can still take steps to plan for their expenses in the year ahead. 

Create a budget

Start by calculating your monthly income and expenses. Once you receive your financial aid offer, you can use that as a guide to help determine how much you’ll spend each month on educational expenses, plus living expenses like rent, food, and transportation.

Make sure to track your spending along the way to help you stick to your budget, avoid unnecessary expenses, and try to identify areas where you can cut costs. 

Save for emergencies

Even a few hundred dollars in unexpected expenses — for things like a car repair, a medical bill, or rent increases — can throw a wrench in many students’ educational plans. When possible, try to set aside some money each month in case of emergencies, and investigate whether your school has an emergency financial aid program that you can access.

Still, even the best laid plans cannot forestall every emergency. If an unplanned emergency does strike, be sure to check in with your financial aid office to find out about any last-minute emergency grants for extenuating circumstances.

Work while studying

At some point in the past, it may have been possible to work one’s way through college. Today, working part-time and attending college isn’t likely to cover all your expenses, but work-study can be a helpful way to defray some of the ongoing costs of attending school.

Work-study jobs offer part-time work to needy students on and off campus, and are usually part of a school’s financial aid offer. They can be a great way to integrate oneself into the campus and pick up some money along the way. 

Minimize borrowing and plan ahead

If possible, avoid taking on debt. If you must take on debt, be aware of interest rates, and make sure payments fit your budget. Once you enter student loan repayment, you can set yourself up for success by picking the repayment plan that’s best for you to avoid falling into default.

Borrowers start out on a standard 10-year repayment plan after a six-month grace period, but if that’s too much to handle, there are other repayment plans based on your income that can keep payments affordable. 

Stay informed

Learn about personal finance and investing so you can make informed decisions about your money. Take advantage of financial literacy resources offered by your college or university, such as workshops, counseling services, and online resources, usually offered for free. Don’t be afraid to ask your financial aid or student services office for help navigating different financial situations.

Figuring out how to pay for college can be daunting for both new and returning students — after all, it’s one of the most significant financial investments many will make in their lifetime. But by starting early, exploring all available options, and staying informed throughout your journey, you can pave the way for a financially sustainable future. 

The post 5 Tips to Help You Plan for Paying for College appeared first on Education and Career News.

Yvonne Johnson

President, National PTA

“The best thing we can do as parents is to be supportive throughout the process and equip our teens with knowledge to help them confidently transition to the best next step for them.”

It’s important to remember there is no one clear decision for every student and there are a number of post-secondary options: going to college, doing a job-training program, going straight to work, going into the armed forces. The best thing we can do as parents is to be supportive throughout the process and equip our teens with knowledge to help them confidently transition to the best next step for them.

Creating a plan

At the beginning of high school, talk with your teen about their aspirations and goals. Then sit down with their teachers, counselor, or other adviser to discuss what it will take for your child to graduate, your child’s goals, their aspirations for after high school, and the best ways to support your child. Create a plan together to help your child reach their goals and review it every year to make sure they are on track.

This plan should include:

• An appropriate course sequence to meet your child’s goals. For example, if your child wants to study biosciences in college, they will likely need additional or advanced math and science courses in high school to be prepared for college-level coursework.
• The most appropriate extracurricular activities for your child to participate in. For example, if your child is interested in journalism or photography, encourage them to sign up for the school newspaper or yearbook. These activities will help your child expand their learning outside of school and may help foster new hobbies or interests.
• Ways you can help your child prepare for college or career. For example, if your child is interested in a particular field, look to see if internships exist to build their work experience in that subject area.
• Finding ways to pay for college or advanced training. College can be expensive, but there are lots of ways to get financial help, such as scholarships, grants, work study programs, and student loans. You can start by helping your child fill out the Free Application for Federal Student Aid (FAFSA) during their senior year. Visit StudentAid.gov for more information on FAFSA and financial aid.

Change can be hard, and your student’s aspirations may shift frequently over their four years of high school, but it is important to talk openly and often, help them maintain perspective, and praise them for their big and little accomplishments.

And as you work collaboratively with your teens’ teachers, counselors, and other advisers, know that you are providing the critical support they need during this important time in their lives.

The post How to Support Your Teen in Making Post-Secondary Decisions appeared first on Education and Career News.

James Montoya

Chief of Membership, Governance, and Higher Education, College Board

What advice would you give to a parent to help their student become more academically prepared for college?

Don’t just focus on getting in; explain how academic readiness (achieved through a rigorous high school academic program) shapes the entire college experience. The more prepared you are for college-level work, the more you’ll be able to take advantage of the incredible opportunities — academic, cultural, and social — that come with college life.

If you’re prepared to manage your coursework well, you’ll have more time for extracurricular activities. You’ll have more capacity to explore study abroad opportunities. You’ll have more freedom to pursue research, internships, and career-mentoring. You’ll have more time to cultivate friendships or play sports.

Academic preparation is the key that unlocks the whole package of college — including the fun parts.

What do you think is the most important thing admissions programs at top colleges and universities are looking for in prospective students?

At their core, colleges and universities want to know how you’re going to contribute to the intellectual, cultural, and social life of the school, and how you will take advantage of the many opportunities available to you.

They want to see curiosity, resourcefulness, motivation, and some spark of creativity that indicates you’ll be a fantastic classmate, friend, research partner, teammate, and student.

What is something that is often overlooked within the college admissions process?

Schools don’t just think about admissions in terms of individual students — they’re thinking about building a “well-rounded” class, one that ideally includes very different interests, strengths, and backgrounds among the whole student body. That means there’s no single, standard set of criteria that all schools are looking for in a student.

Two colleges may view the same student very differently depending on what they’re prioritizing to help round out their whole class. Students shouldn’t assume that their strengths and weaknesses will appear exactly the same to admissions officers at different institutions.

Are extracurricular activities important? How can today’s students set themselves apart from others?

Showing genuine interest and commitment is important, and extracurriculars can be a powerful way to do that. Resist the temptation to fill every spot on the application by doing more activities, and focus instead on making an impact in the extracurriculars that are most meaningful to you.

The why can be just as important as the what. Why did you decide to run for student government, and how did it affect the way you think about school and service? Why did you develop a love for baseball at a school where football was more prominent, and how did your teammates change your high school experience? Choose depth and meaning over breadth and titles.

At what age should parents start the college admissions process?

Parents should start conversations about higher education as early as possible, but certainly before high school, helping their student understand what’s possible and what it will take to get there. An early start allows a parent to expose their child to the wide range of options that are available, from national liberal arts colleges to state public universities to local community colleges. We are blessed to have such a wide range of options in this country. College Board’s BigFuture is an extraordinary resource — and it’s FREE.

Should students take the SAT if colleges are test-optional?

Taking the SAT keeps doors of opportunity open and is an important way to confirm a student’s grades or even demonstrate their strengths beyond what their high school grades may show. Through programs like SAT School Day and the SAT fee waiver program, all students can take the SAT, see how they do, and decide whether to send their scores.

Matthew Rosenbaum

Chief of Staff, InGenius Prep; Former Admissions Officer, University of Chicago

What advice would you give to a parent to help their student become more academically prepared for college?

If I had to choose a single piece of advice, it would be to forget whatever you’ve heard about “well-roundedness.” For some time, it has been clear that colleges desire well-rounded classes, not necessarily well-rounded students.

That is, a well-rounded class does not consist of a throng of generalists without clear intentions of where and how they will thrive on campus. Instead, a well-rounded class consists of a population of students with diverse interests and deep commitment and achievements related to those interests.

This doesn’t mean students shouldn’t explore their interests — great applicants are rarely one-dimensional. I’m certainly not advising students to abandon all pursuits except those directly relevant to their core passions and interests.

Rather, my advice is this: Discover your passions or interests as early as possible — even middle school isn’t too early; as soon as you enter high school, commit yourself to this passion — intellectually, academically, and extracurricular-ly; and go further in your passions than other students. If you love engineering, don’t stop at joining your high school’s robotics club, go further!

What is the most important thing admissions programs at top colleges and universities are looking for in prospective students?

Selective colleges have two key considerations:

First, they need assurance a student possesses the academic ability to thrive in their rigorous environment. Grades, test scores, and course choices are the primary indicators here. Other indicators include success in competitions and other academic contributions, and demonstrations of academic achievement.

However, once that academic threshold is met, the focus shifts to a more holistic evaluation.  Colleges want to build a vibrant, diverse campus community. Generally, this consists of students who have participated in a variety of activities, but who also nonetheless display a clear focus, strength, or theme.

At InGenius, we call this theme the “Application Persona,” a term that refers to a student’s personal brand or application narrative. Generally, your Application Persona emerges from your core passions and interests. For example, a student passionate about public health may have the persona of “future leader in public health initiatives in Latin America.”

Students demonstrating unique passions, leadership potential, a commitment to service, and/or exceptional talents become highly desirable. Admissions officers want to envision the positive — and oftentimes specific — impact the student will have on their college and the world beyond graduation.

What is something that is often overlooked in the college admissions process?

A crucial, yet often overlooked, aspect is a college’s unique needs and priorities. As top-ranked schools attract global applicant pools, they strive for a student body that meets their institutional priorities and needs. This could involve geographic diversity, specific academic programs needing a boost, or even niche extracurricular talents that align with the college’s mission.

By researching a college’s priorities, students can tailor their applications to highlight relevant strengths and experiences. Applicants should demonstrate genuine interests in the college’s specific offerings and show how they can contribute to the campus community to connect as a perfect “fit” — a factor that can make all the difference in admissions decisions.

Are extracurricular activities important? And how can today’s students set themselves apart from other applicants?

It would be difficult to overstate the importance of extracurricular activities. If you looked at the applicant pool at all selective universities, you would find a significant population of academically qualified students. Unfortunately, the population of those students who are admitted is often fewer than 1 in 5. What this tells us is that once a student is academically qualified, the real determinant of whether they are admitted is the remainder of the application — first and foremost the extracurricular activities and accomplishments, which are woven throughout the entire application.

Extracurricular activities are powerful differentiators in today’s competitive landscape. Strong applications showcase a commitment to long-term pursuits, demonstrating dedication, leadership, and community involvement. This could be through academic organizations, the arts, sports, or volunteer work, highlighting the student’s ability to collaborate, lead, and contribute meaningfully.

However, to truly stand out, students should also pursue activities that reinforce their unique “Application Persona.” Academic research, entrepreneurial endeavors, or self-initiated “signature projects” showcase intellectual curiosity, initiative, and a desire to delve deeper into a chosen field. These endeavors demonstrate the student’s drive to explore beyond traditional boundaries or activities offered at school and make a significant impact.

By strategically combining long-term commitments with activities directly tied to their “Application Persona,” students can craft a compelling narrative that sets them apart and resonates with admissions officers. This is why InGenius Prep invests heavily in our Academic Mentorship program – a research program conducted alongside professors – and our Leadership and Innovation Lab – a startup and nonprofit incubator to assist students in launching their own initiatives.

At what age should parents start the college admissions process?

It’s never too early for parents to begin thinking about the college admissions landscape. Laying the groundwork early maximizes a student’s options and eases stress later on. In fact, we’ve found that students starting with InGenius Prep in 9th grade have about a 9x greater chance of admission to top-30 schools, as compared to about a 4x greater chance for students starting in 11th grade, for example.

Early on, the focus should be on interest exploration. Helping your child discover their passions and talents is the foundation for building that compelling “Application Persona.” Encourage them to try different activities, explore subjects beyond the classroom, and develop unique hobbies.

Simultaneously, start thinking strategically about long-term choices. Course selection, summer opportunities, potential projects, and standardized test prep all benefit from advanced planning. A gradual, well-thought-out approach allows for better decision-making, stronger applications, and, ultimately, increased admissions chances.

Ultimately, college preparation is not dissimilar from investing. It is better to start investing right now than a year from now. Likewise, starting early and being consistent yields far better results than trying to cram a lot into your Junior year of high school.

How much time should a student spend on ACT and SAT prep?

There is no one-size-fits-all answer to the time spent on ACT/SAT prep; however, there are a few factors to consider: baseline score, desired improvement, and study style. InGenius Prep recommends high school students take a diagnostic test during the spring of their sophomore year, and then explore study programs for the summer and plan to prepare to take the test at least three times.

For students using a test prep service, we often see students taking a class-based program to start, and then using private tutoring to round out their skills and knowledge. How many tutoring hours depends on the student and their desired outcome, but it’s not uncommon to see a student use upwards of 24 hours of private tutoring.

Additional Thoughts:

College preparedness, like any self-improvement journey, is best accomplished through consistent, long-term efforts. You can’t “cram” for college admissions — rather, it is your steady academic accomplishments, paired with sustained involvement with key extracurricular activities, that determines your success.

Thus, whether a family decides to hire a counseling service or not, we recommend that families and students begin thinking about this journey before or at the very start of high school. Students don’t need to know where they’ll be applying, but they do need to have acquired critical academic skills (such as time management or advanced academic writing), in conjunction with a knowledge of their primary passions and interests — which will guide the student in their extracurricular pursuits.

In the end, students who are academically qualified and very accomplished at a specific pursuit (e.g., entrepreneurship or biochemistry), will fare well in the competitive admissions process.

The post How Parents Can Get Their College-Bound Students Ready for Applications appeared first on Education and Career News.

Without federal loans, relatively few students — or parents — would be able to afford those costs. And even with financial aid and loans, there’s a dawning awareness that many students, even those who graduate, will be unable to pay off their student loans, even after decades of making payments. In light of this, it’s worth asking the question: Is college worth it?

Spoiler: yes. College is worth it — for most people. After studying this question for decades, the upshot remains straightforward and, for most economists, uncontroversial: “The return on investing in college appears to be high,” according to a 2023 study published by the Federal Reserve Bank of St. Louis,^[2] and a slew of other studies undertaken over the past 10 years. So, perhaps a more interesting question to explore is whether some majors are a better investment than others.

A major investment

Turns out the answer is, again, yes. A 2024 analysis of data collected from 5.8 million high school and college graduates and published by the American Educational Research Journal suggests that the return on a college degree varies considerably by major.^[3]

Though there are nuances that differentiate the data for men and women and different racial groups, the collective results are clear: Engineering and science majors have the highest rate of return on their educational investment. The next highest rates of returns are associated with degrees in business, health, math, and science. And education, humanities and arts majors have the lowest rates of return on average. These findings are directionally consistent with other studies on this topic, including a 2021 report by the Education Data Initiative,^[4] which used different calculations but came to a similar conclusion.

Of course, academic studies have limitations. They can’t always accurately account for all the variables, including sex, race, marital status, and geographical location — all of which are likely to impact a graduate’s future income. What’s more, they inevitably reduce “value” to strictly financial terms, while the numerous benefits of a college education can, and often do, transcend a lifetime of earnings.

Still, this analysis is something both students and parents should be clear-eyed about. “Selecting majors with high returns is a sound financial decision, but at the same time, if a student has decided to pursue a major with a lower return, they may want to consider pursuing additional training or education to improve their labor market prospects,” according to Liang Zhang, professor of higher education at NYU Steinhardt and one of the authors of the study.

There’s more than one way to maximize the impact of a college education. Choosing a college, a major, and a career are highly personal decisions that should reflect a student’s own personal criteria and financial situation. But accounting for the different majors’ “earnings trajectories” is an additional dimension for consideration while undertaking one of the largest financial transactions of a lifetime.

To learn more, visit sofi.com/private-student-loans

^[1] U.S. News & World Report, 2024.

^[2] Federal Reserve Bank of St. Louis, 2023.

^[3] American Educational Research Journal, June 2024.

^[4] Educationdata.org, 2024.

The post College as an Investment: Which Majors Deliver the Best Bang for the Buck? appeared first on Education and Career News.

Now in its 11th season, what started as a way to bring equity to college readiness has become a lifeline for students, parents, teachers, and counselors all around the world who rely on the show to help them make informed decisions about higher education, thanks to the show’s intimate format that brings to life real students’ stories from each campus.

After showcasing 170 colleges and counting, Boylan shares with us his inspiration for starting the show, what he’s learned from being on campuses, and how aspiring students should best prepare for their college journeys.

Why do you think it’s so important to showcase students from so many schools, and so many students from different groups within each school?

No two students are alike, and no two pathways to success are alike, and it’s important for us to let students know they have options. College isn’t a one-size-fits-all scenario, and our job is to show you all your options.

We have filmed at large state schools, small private schools, community colleges, HBCUs, Hispanic Serving Institutions, and everything in between. By having a diverse group of students from each school, we allow more viewers to visualize what life can be like at that school.

What has been the most rewarding part of doing the show for you?

By far, it’s been seeing how much it’s helped high school students find the right school, and most of the time the students tell us that their choice school wouldn’t have even been on their radar if it wasn’t for “The College Tour.”

The show takes away all financial and time constraints. You can be a high school junior in Florida but be able to “travel” via the show to schools in Alaska, Colorado, New York, etc.

Students’ eyes light up when they watch episodes like the one featuring Semester at Sea. We truly open their world, and it’s such a rewarding thing to do!

As a reality TV veteran, what made you want to bring colleges to the screen?

It really all started when my niece from Wisconsin came to visit me in Los Angeles to check out schools. We spent several days doing regular tours, pretty much only seeing the outside of buildings. Nothing really sparked her interest and she wanted to visit schools in Texas. The only problem was that it was out of the budget.

I saw how disappointed she was and realized there must be millions of teens who were equally frustrated, and that’s when I knew we had to do this show. We needed to help students not just live out their dreams but find them first.

You have met with thousands of students from all walks of life. What is the greatest college-related lesson you have learned from them?

Getting to know these students has been incredible. The one thing I would say is a common takeaway no matter where I am, is that it’s important to find a school not solely based on academics. You need to factor in your lifestyle, your interests, your hobbies.

There are enough schools out there that you don’t have to go somewhere that doesn’t offer what it is that you are looking for. You can curate the experience you want.

What are the most important factors a student should consider when choosing a school?

The four main factors to consider when starting the college search should definitely be location, campus culture, majors, and type of school. If you can answer those questions you are off to a fantastic start.

What do you think is the biggest hurdle students face when it comes to the college admissions process?

I would say the biggest thing is trying to figure all of this out yourself because really … there is just so much information. The best piece of advice I can give you is this: when you’re interested in a school, reach out and make contact with someone in the admissions department, because there’s going to be someone who’s put onto your case and can start answering your specific questions. Don’t be afraid to ask for help.

The post “The College Tour” Host Alex Boylan’s Top Tips for Soon-to-be College Students appeared first on Education and Career News.

Gail daMota

President, Education Finance Council

“The first step to reducing the financial burden of postsecondary education is to think about the long-term value of what you study.”

Don’t let the sticker price of a postsecondary education discourage you. While it is true that, after accounting for inflation, published tuition and fee prices at public four-year institutions nearly doubled in the last three decades, the good news is that you can find an affordable and high-quality higher education with a little planning, prudence, and independent thinking.

Identify the right program

The first step to reducing the financial burden of postsecondary education is to think about the long-term value of what you study.

Where you go to school has a greater impact on your finances than you might expect. While many leading figures in popular culture focus on four-year residential baccalaureate degree-granting schools, the truth is that your return on investment may hinge more on the academic program you study than the perceived prestige of your institution.

The U.S. Department of Education’s free online College Scorecard tool allows families to see the debt and income outcomes for students broken down by institutional degree level and specific academic program. You should leverage this valuable resource to compare your prospective institutions and programs of study. Doing so will allow you to select the school and program that will reward you for your investment of time and money. You may be surprised to learn that a prestigious institution may not give you the best return on investment.

Save every penny you can

Not everyone has money to spare in their budget. But, for those who have some discretionary income, one of the greatest tactics to make college more affordable is to set aside a little bit of your paycheck every month. The earlier you can start saving, the better. Every dollar you save today will reduce the stress of paying for school, textbooks, food, and housing while enrolled in college and set you up for financial success after graduation.

There are three approaches you can take to increase your savings: earn more money, cut back on expenses, or a combination of both. Choose the option that makes the most sense for you. For example, you can consider forgoing an expensive coffee once a month, increasing your carpooling or public transportation usage, finding additional roommates, starting a flexible part-time job, or buying more items second-hand. Remember, saving money does not necessarily require seismic changes to your lifestyle.

For many families, investing their savings in a 529 plan can provide a significant boost to paying for postsecondary education. Named after a section of the tax code, state-sponsored 529 plans can either lock you into today’s tuition rates before they increase or let you grow your savings in an investment account tax-free. A 529 plan is a flexible financial instrument that can compound your money, so be sure to open and fund it as soon as possible.

Find free financial assistance

Most people won’t be able to cover the cost of college using their personal income alone. In those cases, students rely on financial aid from other entities. You should prioritize finding aid that you do not have to repay. By exhausting free financial assistance, you can reduce reliance on student loans and keep college costs manageable.

The best thing you can do to access free aid is to complete the Free Application for Federal Student Aid®, or FAFSA. This newly simplified government form is free to complete and is the gateway to obtaining college funding from the U.S. Department of Education, including the Pell Grant. In the 2023-24 school year, the maximum Pell Grant award was $7,395 and the average Pell Grant recipient received $4,514 to go to college.

Filling out the FAFSA is always worth it. With this one application, you can unlock funds from the federal government, state governments, colleges and universities, and other private organizations.

There are also billions of dollars in scholarships awarded to students every year. Scholarships are like grants in that they are gifts you do not need to repay. In 2022-23, scholarship providers doled out over $8 billion to more than 5.3 million students, which resulted in an average $1,517 award per recipient.

The key to finding scholarships is to use multiple and diverse search techniques. Don’t hesitate to contact state higher education agencies, nonprofits, your university, your employer, or local business associations or places of worship. Scour social media sites and the internet. You also might be surprised how many organizations you already interact with provide financial assistance to college students.

One word of caution: Most reputable scholarships and search sites are free. Don’t pay for a scholarship search or application unless you are sure it is not a scam.

Every scholarship or grant you earn will make college that much more affordable.

Borrow low-cost student loans, but only take out what you need and can afford

Sometimes borrowing education debt is the best option remaining to cover remaining college expenses. Student loan rates may seem high, but they are a much smarter option than swiping a credit card.

If you find yourself needing to borrow money, apply for federal student loans first. Generally, federal student loans offer lower interest rates and feature many more repayment and forgiveness benefits than private student loans. Before taking out a student loan, research your anticipated earnings and calculate your existing debt burden. This way you can know exactly how much money you need to complete your program. Borrow only what you need.

And if you must borrow a private student loan, shop around before committing to any one lender. Finding a lower interest rate will save you hundreds of dollars in interest over the life of the loan. Nonprofit and state-based student loan organizations are normally able to offer qualified applicants a better deal than for-profit companies because of their public purpose missions and access to tax-free capital.

Bringing it all together

Financing your college education seems daunting at first. You can significantly reduce your anxiety by considering the long-term value of your intended program of study before enrolling in an institution, smartly saving your money now, and seeking out grants and scholarships.

Embrace the roadmap outlined in this article. Complete the FAFSA, apply for scholarships, and choose low-cost student loans. If you follow these steps, you will be well-prepared to make informed decisions and achieve your educational and financial goals.

The post The Top Strategies to Afford College appeared first on Education and Career News.