YCBK21: How to Know What Your Family Can Really Afford for College

In this week's episode...

In the News 2:10 : In the News: We talk about a breaking announcement made by the University of Chicago and their transition into being a test-optional institution.

In this week's book discussion (17:28): of Chapter 21 of 171 Answers: to the Most-Asked College Admissions Questions, we discuss how to self-assess how much you can afford to pay for college before you begin your college visits.

171 Answers to the Most-Asked College Admission Questions
Mark teaches a method that allows a family to come away with a clear cut maximum of how much a family is able to pay for college. He shows a method that allows people to realize that they have more money than they thought they have for college when they go through this planning exercise. He encourages each family to be resolute in their commitment to not go beyond this number and he shares four forces that are working against you in this process. (Length 6:22)

This week’s question is from Dave from White Plains, NY.

Question
He wrote us to say that Mark implied that IVY's are partially responsible for the shift to merit-based aid, but IVY's don't give merit money. Dave is correct and Mark explains why IVY's have wealthy families even without merit aid. We also discuss two schools that just dropped their writing requirement for ACT and SAT testing. (Length )

Ron Smith of Howard University is interviewed about their Bison STEM Scholars program. 31:26

Ron Smith
Ron talks about scholarship weekend. He talks about the timeline of the application process. Ron shares his advice for a middle school student or their parents who want to know what they should be doing now in order to be a competitive applicant for the Bison STEM Scholars program. Ron goes over the the benefits of the Bison STEM Scholars program and he includes components such as mentoring, research and overseas experience. He debunks the myth that this is a scholarship program. Ron also shows how the Bison STEM Scholars program is patterned after the famous Meyerhoff program at UMBC.(https://www2.howard.edu/scholarships/bison-stem-scholars)

 

Don't forget to send your questions related to any and every facet of the college process to: questions@collegeboundkid.com

Every episode of Your College-Bound Kid will align with a chapter from the book 171 Answers to the Most-Asked College Admission Questions. To get a copy visit 171answers.com and if you want to see what future episodes will cover just click the red button "See exactly what 171 Answers covers".