March 2009

ACT provides this monthly newsletter to inform students and their parents about college and career planning. ACT is a not-for-profit organization that serves millions of people in schools, colleges, professional associations, businesses and government agencies with programs and services that help people achieve their education and career goals. Visit www.actstudent.org for more information and services.

Key Dates

• April 4: Next ACT^® test date. Late registration deadline is March 13.

Time to make your college choice

Very soon seniors will have to make an important decision—which college to attend.

In April, many colleges and universities begin sending offer letters to students who have been accepted for their incoming freshman class and have applied for financial assistance. Offer letters list the cost of tuition and fees plus the amount of financial aid available through the school.

When you've been accepted and receive financial aid offers from more than one school, you need to compare the offers, make a choice and accept the offer that best fits your needs—and your budget.

How do you compare offers? Make a list of pros and cons of each school and the key reasons for your decisions.

Most families need to consider the annual net cost of attending each school and the annual cash outlay required of the family. To figure these out, you can make a chart listing each school and include the following:

(A) Estimated Annual Expenses

- Tuition
- Fees
- Room
- Board/meal plan
- Travel
- Estimated price of books and supplies
- Personal expenses

(B) Total Gift Aid (aid that does not need to be repaid)
- Grants and scholarships
- Other gift aid

(C) Net Price = A – B

(D) Work Study / Job Offers

(E) Loans to be Repaid
- Federal Stafford or Direct Loans
- Federal Perkins Loan
- Other student loans

(F) Cash Outflow = (C – [D + E])

Once you've completed the chart, consider the pros and cons of each school along with the financial considerations. Consider the nontangible factors (your feelings about the school and the environment) as well as the tangible factors (cost, course offerings). Listen to your parents, but realize that the decision is ultimately yours.

What do admissions officers consider?

When looking at college applicants, admissions officers consider:

• Courses taken in high school – Students who take challenging courses will be considered better prepared for college than students who take the easier route through high school.
• Grades – A student’s grade point average and class standing is important to admissions officers.
• College entrance exam scores – Colleges use your scores to determine your readiness for college academics and which courses you are prepared to take during your freshman year.
• Extracurricular activities – Are you involved in high school activities, and will you be involved on campus? Students who are involved in campus activities are more likely to remain in college and thrive on campus.
• College essay – Some colleges require essays and use them to judge writing skills and to learn more about you as an individual.
• Interview – If required, it is important for you to present yourself as someone who is bright, articulate, and interested in being involved in the school. Be honest about yourself and let them see the real you.
• Whether the college is the right fit for you – Will you like the lifestyle of the particular campus? Will you fit in with fellow classmates? Does the campus have activities that match your interests?

Checklist for making the most out of high school

• Take classes recommended for college preparation. Talk to your counselor.
• Use testing information. Examine your scores and take extra courses or get tutoring assistance for weaker academic areas.
• Establish goals for each school year. Talk to your counselor about what you should be doing considering your college and career plans.
• Explore careers through research and experiences. Use a career counseling program and do a job shadow or internships in careers you are interested in pursuing.
• Surf the Internet for information on education and career planning.
• Take a college entrance exam during your junior year.
• Never stop learning. Education is a lifelong pursuit.

Strengthen your academic skills

If you think your skills aren't quite up to speed for college, don't give up. Take time to prepare yourself. There are many ways to get a college degree. You just have to take the path that's right for you.

ACT offers these tips:

• Use test score information to see where you need work. Score information from the ACT^®, for example, can tell you what subjects you need help with and what you can do to raise your skills to the next level. Remember, a low score doesn't necessarily mean you're bad in a subject. It just means you haven't mastered the subject yet.
• Work with a tutor to learn what you don't know yet.
• Take a summer or night school class.
• Check out study aids—books, videotapes, audiotapes and computer programs—at your school library, a public library or a local bookstore.
• Ask your counselor or a teacher about ways you can build your academic skills.

Know your financial aid offers

When you receive offers from colleges, be aware of the terms of any financial aid offers. In the case of federal, state and many institutional aid programs, you are required to reapply each year. Nearly every scholarship also carries with it an obligation to carry a minimum course load and to maintain a minimum grade point average (GPA). It's important to read all financial aid documents carefully and understand their terms and conditions. The same goes for loans. You need to consider the terms of any loan—both the interest rate and when repayment is to begin. Make sure you understand everything before you sign any documents. If you have questions, ask a financial aid officer at the college for help.

Financial aid terms

Are you running across financial aid terms that have you scratching your head? Below are definitions of a few terms from the U.S. Department of Education financial aid “Student Guide” to help you out. To find out more, check out “Important Terms” in the paper guide or check it out on the Web: http://studentaid.ed.gov/PORTALSWebApp/students/english/Glossary.jsp

Financial Aid Package ― The total amount of financial aid (federal and nonfederal) a student receives. The financial aid administrator at a postsecondary institution combines various forms of aid (federal aid, state aid, scholarships, etc.) into a “package” to help meet a student’s need. Using available resources to give each student the best possible package of aid is one of the aid administrator’s major responsibilities. Because funds are often limited, a financial aid package might fall short of the amount a student is eligible for. Also, the amount of federal student aid in a financial aid package is affected by other sources of aid received (scholarships, state aid, etc.)

Promissory Note ― The binding legal document you sign when you get a student loan. It lists the conditions under which you’re borrowing and the terms under which you agree to pay back the loan. It will include information on how interest is calculated and what the deferment and cancellation provisions are. It’s very important to read and save this document because you’ll need to refer to it later when you begin repaying your loan.

Default ― Failure to repay a loan according to the terms agreed to when you signed a promissory note (defined above). In many cases, default can be avoided by submitting a request for a deferment, forbearance, or cancellation and by providing the required documentation before reaching the point of default. The consequences of default are severe. Your school, the lender or agency that holds your loan, the state, and the federal government may all take action to recover the money, including notifying national credit bureaus of your default. This affects your credit rating for a long time. For example, you might find it very difficult to borrow money from a bank to buy a car or a house. In addition, the U.S. Department of Education might ask the Internal Revenue Service to withhold your U.S. individual income tax refund and apply it to the amount you owe, or the agency holding your loan might ask your employer to deduct payments from your paycheck. Also, you’re liable for expenses incurred in collecting the loan. If you decide to return to school, you’re not entitled to receive any more federal student aid. Legal action might also be taken against you.

Regular Student ― One who is enrolled in an institution to obtain a degree or certificate. Generally, to receive aid from the programs discussed in the "Student Guilde," you must be a regular student. (For some programs, there are exceptions to this requirement.)

Satisfactory Academic Progress ― To be eligible to receive federal student aid, you must maintain satisfactory academic progress toward a degree or certificate. You must meet your school’s written standard of satisfactory progress. Check with your school to find out about its standard.

Test date reminder

March 13 is the late registration deadline for the April 4 test date. Online registration and test date information are available at www.actstudent.org. Register early to avoid heavy Web traffic and delays.

ACT offers an optional Writing Test in addition to the multiple-choice version. Go to www.actstudent.org/writing to find out about the Writing Test, including what the colleges you're interested in have decided about requiring it.

While you're at the website, don't forget to take advantage of test prep aids, including free sample test questions, at www.actstudent.org/testprep. ACT Online Prep™ is the only test prep program developed exclusively by ACT test development professionals and is available for $19.95 per year. You also can find test day tips, a list of items to bring to the test, and details on what type of calculator you can use on the Math Test.

Preparing for the ACT, a booklet with a complete practice test, scoring key, writing prompt and sample essays, is available to download on the Test Prep section of actstudent.org. Your ACT registration packet, available from the counseling office, also includes the booklet. Try taking the sample test and timing yourself to prepare for test day.

For all your questions about the ACT test, visit www.actstudent.org.