How to Position Your Student to Get Money From Private Colleges

The nation's private colleges continue to provide considerable institutional aid for good students. Because private colleges receive little or no support from state tax dollars, many private colleges must offer institutional aid to stay competitive with the lower cost state colleges. But this institutional aid is not guaranteed. Students wishing to be considered for institutional aid must position themselves correctly to be recruited by private colleges. Proper positioning begins early in high school and involves the following seven steps.

Instructions

Difficulty: Moderately Challenging

1. Good Grades
   
   Good grades are self-explanatory. The presumption is that good grades in high school will mean good grades in college and ultimately graduating from college and becoming an alumnus. A student should have a minimum of a 3.0 GPA in high school to be in the running for a tuition discount.
2. SAT/ACT Test Scores
   
   The SAT/ACT college prep test scores are merely qualifiers, but colleges have no other way to compare the academic abilities of a student from Ohio with a student from California. A student should have a minimum score of 24 on the ACT test, or a 1600 out of 2400 on the new SAT test, to be in the running for institutional aid at many private colleges.
3. Solid Resume of Achievement
   
   Throughout their high school years, students should build a solid resume of achievement and list any civic groups or community service projects that they were involved in. This will demonstrate to the colleges that the student is well rounded and is active in student affairs outside of normal studies. Treat this exactly the same as preparing a resume for a job! Send a resume with the application to each school.
4. Apply Early in the Academic Year
   
   Students should apply to colleges early in the senior year of high school (September-December). The rule of thumb here is the earlier the better! Remember, once a particular school begins to fill the upcoming year’s freshman class, the need for a private college to offer institutional aid diminishes.
5. Apply to Schools that Recruit the Same Students
   
   Private colleges compete with each other for good students and are more likely to give significant institutional aid in order to compete with other schools of the same caliber.
6. Apply to Schools that Have a Low Yield Factor
   
   Yield = Number of students actually enrolled / Number of student admitted
   
   Students should apply to colleges that have a high admission rate, yet have a low number of students that actually enroll. Student enrollment is the key to a college’s survival. Many colleges select students for admission to their school only to have them enroll and attend another. Private colleges have a constant battle to fill seats every year. The second tier private colleges are even more challenged because they must compete with the low cost of public universities and the popularity of the elite private (Ivy League) schools. As a result, the student has a high probability to receive institutional aid from private colleges with a low enrollment yield percentage.
7. Apply to 6-8 Colleges
   
   Students should apply to a minimum of 6-8 colleges. At least four colleges should represent private schools that compete with the student's primary college choice. Applying to several colleges gives the student the opportunity to receive institutional aid from one college and use that award to ask for a similar, or better, award from the student’s top college choice.

Tips & Warnings

• Quality students can receive considerable institutional aid from private colleges, thus reducing the price in the range of a public university while allowing the student to attend smaller classes. Don’t be afraid to add private colleges to your list. You may be surprised at the deal you can get!