As the stock market drastically falls, so too do college endowment funds ― which underwrite the cost of scholarships and financial aid packages. In fact, most of these endowment funds have lost more than 30% of their value in recent months.

The impact on families getting ready to send their children to college is enormous. These colleges are likely to have less money available for merit-based scholarships and financial aid next year (and perhaps into the future as well).

Our recommendations…

1.  Be careful about applying Early Decision if you need financial aid. Call your top choice college to find out if you can gracefully get out of an Early Decision agreement if you don’t get enough financial aid. While this downward market is not likely to impact the Ivy League and colleges of similar stature, it will almost certainly hamper less well-endowed universities.

2.  Make sure that your college list include institutions which are economic safeties, such as the Florida state schools and selected out-of-state state universities. Include a few private institutions where your grades and test scores are likely to make you a shoe-in, and, thus help ensure a strong financial-aid or merit-based package. It will be important to include colleges where you can be admitted AND afford to go.

3.  Have something that will make you stand out in the application pool, something the colleges really want. Perhaps it’s a strong leadership position or significant community service ― or, more likely, stellar test scores. While it’s unfortunate that the SAT and ACT have become far more important than their original mission of college admission, the reality is that US News & World Report makes significant use of these standardize test scores ― the higher the scores, the higher the ranking, and the higher the ranking, the higher a college’s selectivity and, ultimately, its prestige. Thus, if you have higher test scores, you’re likely to get a better financial aid package (more grant money that you don’t have to repay, and less loan that you do have to repay) and even a stronger merit-based scholarship!

Judi

Among competitive colleges, the lesser known SAT Subject Tests (formerly known as SAT II) constitute important facets of applications. Many of the nation’s elite schools – including Cornell, Duke, Harvard, and Yale – require students take up to three SAT Subject Tests. While the SAT’s importance evaporates after admittance, performance on the subject tests has lasting implications for college placement.

Unlike the SAT Reasoning Test, the subject tests measure specific knowledge in one of five academic areas: English, history, math, science, and foreign language. The tests are scored on a scale of 200-800 and last for one hour.

It would be unfavorable to overlook the importance of these tests. Numerous studies have indicated that the SAT subject tests are the most accurate predictors of future academic success. A University of California statewide report actually recommended that all California institutions use the tests. Dean of Admissions at Harvard University William Fitzsimmons noted that the subject tests, “have been better predictors than either high school grades or the SAT” in gauging academic success at Harvard.

It is not surprising, then, that the tests are used for placement once in college. Students who do well on the Subject Tests move past remedial requirements and into more advanced classes. Some even earn college credit for adequate Subject Test scores – much like AP classes – and go on to graduate a semester or two early. For students considering some form of graduate work, taking more challenging courses in college by bypassing the introductory requirements can bolster the college transcript and increase chances of admission into law school, medical school, or other graduate undertakings.

Yvonne, Coral Springs Master Tutor

A recent poll of 500 universities revealed the following significant data:

• 72% of colleges said that a student’s scores are more important than the extracurricular activities
• 38% of colleges indicated that the Writing score is used to make admission decisions, with almost half of these colleges reporting that the Writing score is as important as the Reading and Math scores
• Among the top 50 colleges polled, 35% indicated that the Writing score is weighted exactly the same as the Reading and Math scores

The same poll also indicated that more than ¼ of the colleges are receiving more and more applications from homeschoolers.

The poll was conducted by Kaplan Test Prep & Admissions

Judi

As families face tough economic decisions, they sacrifice their children’s exta-curricular and enrichment programs. Elite athletic travel teams are forced to fold as once-popular tournaments shrink in number or disappear. That trend is mirrored in academic areas. Test preparation for college entrance (SAT/ACT) and AP exams falls to the wayside, too. Yet few families realize the long-term financial repercussions that such decisions about exams can have.

The rising costs of attending a private university, combined with the economic downturn, force families into choosing the low-cost State University System. Ironically, as the applicant pool increases, so do admission standards. The current cut-off for the Bright Futures Merit Award for SATs (970) falls below the average SAT scores of every SUS school’s freshman class. Calls to raise the standards will once again be scrutinized on February 21, 2009, when the SUS’s Board of Governors presents recommendations that could change Bright Futures.

Currently, Bright Futures awards 100% of a student’s tuition to those who earn a 3.5 weighted GPA and a 1270 SAT or 28 ACT — and 75% to those with a 3.0 GPA and 970 SAT or 20 ACT (Full descriptions of qualifications for Bright Futures are available from your guidance counselor). The 25% difference in cost over the course of 4 years can mean substantial family savings. Students who meet the grade criterion would be wise to invest in test preparation.

There are also fiduciary benefits to scoring well on AP exams that may not be as obvious. Because most colleges and universities award academic credit for high AP exam scores, AP credits can translate into a lighter course load or early graduation. Either option equates to significant savings.

Families who choose the community college option sometimes neglect the SAT/ACT. However community colleges also rely on standardized test scores for placement in college courses. Lower scoring students must enroll in remedial classes which do not fulfill graduation requirements, and so increase the cost of college education. For a student excited about finally having a say in course selection, this can be a frustrating and demeaning realization. Furthermore, successful completion of a remedial series does not guarantee progression to college-level courses; once again the student faces a standardized exam. To avoid such remedial courses in community college, scores of 440 on the SAT Reading and Math (or 18 on the ACT English and Math) are required. Reaching an SAT Reading score of 500 (or ACT scores of 21 in English and 22 in Reading) and an SAT Math score of 500 (or an ACT score of 21 in Math) not only allows full course selection, but also exempts the student from taking the CLAST, another standardized test required for both graduation from community college and for admission into a 4-year SUS school.

So, yes, when taking standardized tests there is more at stake than admission into your dream school. Time and money spent at the “front end” to effectively prepare for the SAT and/or ACT can reap benefits well into the future. So spend you money wisely in such efforts. Seek assistance from an organization that has a proven track record of score improvement based upon years of focused experience. Score At The Top, through its four learning centers in Palm Beach and Broward counties, has over twenty-five years of successful test preparation and academic tutoring experience. We know that our approach works, turning best intentions into best scores. Contact us for the best guidance and tools to build your collegiate future!

AJ