College Myths: Part 1

MYTH: I CAN’T AFFORD COLLEGE

“I’d love to go to college, but it’s expensive,” says 17-year-old Nick Miller.

“People can’t afford college because it costs too much,” says 15-year-old Erica Mundy.

College costs have risen faster than inflation, and some private institutions now cost nearly $40,000 a year, but a study by the U.S. Department of Education found that parents and students routinely overestimate the cost.

“I would say students would be surprised at how affordable college could be, especially instate,” says college professor Rob Jenkins. “Public institutions and two-year colleges are an especially good deal. They need to check those out.”

MYTH: I HAVE TO BE A STELLAR ATHLETE OR STUDENT TO GET FINANCIAL AID.

“I don’t think I’ll have financial aid from anybody because I don’t get good grades and I’m not very good at sports,” says 15-year-old Nathan McMordie.

Great athletes and students only get a small percentage of total aid, however, “because most financial aid is based on financial need,” says Dr. Betty Molloy, an academic dean.

“Many states have their own programs,” says Jenkins. “There’s federal financial aid, there’s student loans. There are all kinds of scholarships available for students in all sorts of different situations.”

MYTH: MEETING THE MINIMUM HIGH SCHOOL REQUIREMENTS PREPARES ME FOR COLLEGE.

“No,” says Dr. Molloy. “When students come to college they take placement tests, and a lot of them are surprised that they have to go into what’s called learning support or developmental studies and take some pre-collegiate courses in order to get up to college standards.”

MYTH: GETTING INTO COLLEGE IS HARDER THAN GRADUATING.

“I think it’ll probably be easier once I get there,” agrees 16-year-old Danny Burke.

In fact, the vast majority of high school students who apply to college get in somewhere, but only a little more than 50 percent ever graduate.

By Larry Eldridge, Jr.
CWK Network, Inc.

Here are some statistics from recent studies by the National Household Education Surveys Program and the Harris Poll dealing with college:

• Only 52 percent of 11th- and 12th-graders had obtained college cost information. In addition, only 54 percent of parents reported looking into the price of college for their children.
• Among the parents of college-bound students, 59 percent of the parents of ninth- and 10th-graders and 63 percent of the parents of 11th- and 12th-graders reported setting money aside for college.
• The United States, once first in the world, now ranks 11th in college participation leading to a bachelor’s degree.
• When students enter high school, 91 out of every 100 say they plan to go to college, according to the federal report.
• By the time the students are 19 years old, 30 of every 100 who entered ninth grade have fallen behind or dropped out, and only 38 of the 70 who earned high school diplomas enroll in college.
• More than 7,900 students in grades six through 12 and their parents showed that few of them knew anything about college costs. Two-thirds of the students, as well as nearly half their parents, said they couldn’t estimate what tuition and fees are for the kind of college the student hoped to attend.
• Information about financial aid matters: the more young adults know about financial aid, the more likely they are to attend college.
• Nearly half of all parents wished they had more information about how to pay for college.
• Those who need financial aid information the most, typically understand it the least.
  • Sixty percent of parents with incomes under $50,000 said they need more information about how to pay for college compared to only 37 percent of parents with incomes of $75,000 or more.
  • Nearly two-thirds of African-American parents and 62 percent of Hispanic-American parents said they need more information about how to pay for college, compared to only 44 percent of white parents.
  • Over half the parents who completed high school or less said they need more financial aid information, compared to only 33 percent of parents with a college degree or more education.

By Larry Eldridge, Jr.
CWK Network, Inc.

There are many myths about college, but perhaps none more common than the ones dealing with financial aid. Billions of financial-aid dollars are available for students, but myths and misinformation lead to unawareness about what type of aid is available and who is eligible. Experts at collegeboard.com have listed the following common myths about financial aid and some advice in confronting them.

• College is just too expensive for our family. Despite the media hype about rising college costs, a college education is more affordable than most people think – especially when you consider college graduates earn an average of $1 million more over their careers than high school graduates. The average yearly cost of a four-year public school in 2003-2004 is just $4,694. There are some expensive schools, but high tuition is not a requirement for a good education.
• There’s less aid available than there used to be. On the contrary, student financial aid in 2002-2003 rose to a record level of more than $105 billion. Most students receive some form of aid. Less of this aid now comes in the form of grants, however. Most aid is awarded through low-interest loans or institutional and other grants. You should consider carefully the financing packages you’ve been offered by each college to determine which makes the most financial sense.
• My parents’ income is too high to qualify for financial aid. Aid is intended to make a college education available for students of families in many financial situations. College financial-aid administrators often take into account not only income but also other family members in college, home mortgage costs and other factors. Aid is awarded to many families with incomes they thought would disqualify them.
• My parents saved for college so we won’t qualify for financial aid. Saving for college is always a good idea. Since most financial aid comes in the form of loans, the aid you are likely to receive will need to be repaid. Tucking away money could mean you have fewer loans to repay, and it won’t mean you’re not eligible for aid if you need it. A family’s share of college costs is calculated based mostly on income, not assets such as savings.
• I’m not a “straight A” student so I won’t get financial aid. It’s true that many scholarships reward merit, but the vast majority of federal aid is based on financial need and does not even consider grades.
• If I apply for a loan, I have to take it. Families are not obligated to accept a low-interest loan if it is awarded to them. All students should apply for financial aid because of the current all-time low interest rates, according to Tally Hart, director of student financial aid at Ohio State University. She recommends applying and then comparing the loan awards with other debt instruments and assets to determine the best financial deal.
• Working will hurt my academic success. Students who attempt to juggle full-time work and full-time studies do struggle. But research shows that students who work a moderate amount often do better academically. Securing an on-campus job related to career goals is a good way for you to help pay college costs, get experience and create new ties with the university.
• I should live at home to cut costs. It’s wise to study every avenue for reducing college costs, but living at home may not be the best way. Be sure to consider commuting and parking costs when you do this calculation. Living on campus may create more opportunities for work and other benefits.
• Private schools are out of reach for my family. Experts recommend deferring cost considerations until late in the college-selection process. Most important is finding a school that meets your academic, career and personal needs. In fact, you might have a better chance of receiving aid from a private school. Private colleges often offer more financial aid to attract students from every income level. Higher college expenses also mean a better chance of demonstrating financial need.
• Millions of dollars in scholarships go unused each year. Professional scholarship search services often tout this statistic. In fact, most unclaimed money is slated for a few eligible candidates, such as employees of a specific corporation or members of a certain organization. Most financial aid comes from the federal government, though it’s also a good idea to research nonfederal sources of aid.
• My parents will have to sell their home to pay for college. Home value is not considered in calculations for federal financial aid. Colleges may take home equity into account when determining how much you are expected to contribute to college costs, but income is a far greater factor in this determination. No college will expect your parents to sell their house to pay for your education.
• We can negotiate a better deal. Many colleges will be sensitive to a family’s specific financial situation, especially if certain nondiscretionary costs, such as unusually high medical bills, have been overlooked. But most colleges adhere to specific financial aid award guidelines and will not adjust an award for a family that feels it got a better deal at another school.

There is perhaps no more common myth after financial aid questions than the one that community colleges provide an education substandard to universities. While this may have been true in the past, this may no longer be the case. Community colleges are becoming popular choices among students because they have flexible schedules and are often more affordable. Experts at the United States Coast Guard Training Center in Cape May, N.J., have developed a list of some common myths about community colleges.

College is only for unusually bright people. College students do not need to be any more gifted, superior or unusual in their mental abilities than anyone else. Most college graduates are perfectly ordinary people in terms of memory, attention span, arithmetical understanding, comprehension of concepts and other abilities. How they differ from most people is in their willingness to stretch their minds and exercise their mental abilities. Community colleges provide an education comparable to other universities in terms of helping students learn and challenging them to excel.

College is only for unusually creative people. Again, college students needn’t be more creative than others. But they do have to apply their creative abilities to learn new things, new ways of doing things, new ways of seeing things, etc.

You have to be young to go to college. If you are 25 years or older, you will have plenty of company. At most community colleges, older adults are the rule, not the exception. The average age of a part-time evening student is 29.

You have to have a lot of free time to go to college. It is best, when attending college part-time, to take only two or three courses. If the class schedule is arranged in terms of your work or family responsibilities, you can generally find times and places to study. This is an area in which community colleges often excel above universities. Many community colleges will have programs specifically designed for part-time students.

It takes a lot of money to go to college. The average community college is subsidized by state and local taxes, so fees are relatively low. Also, financial aid of many kinds is available (see above). You can get some degrees without paying a penny out of pocket.

It takes a long time to complete a college program. By going part time, it can take you longer to earn a degree. However, many schools have accelerated terms. These programs allow students to earn credit by taking examinations such as the College Level Examination Program (CLEP) and award those who are or have been in the military with credit for their job experience and military training. Many community colleges also offer certificate programs in trades and vocations that can be completed in less than two full-time years.

You have to pass an entrance examination. Although high scores on standardized examinations such as the SAT or ACT are required for admission to some state universities and selective private colleges, this is not true of community colleges. Many colleges and universities do not require entrance examinations. The majority of community colleges welcome all applicants. If you do your first two years of college work toward a bachelor’s degree at a community college, your work can transfer to a four-year college or university without entrance examinations.

You need to know what you want before enrolling. You don’t necessarily have to know what major you want to pursue before you begin taking college courses. You can declare something general such as Liberal Arts. If you’re aiming toward a bachelor’s degree, the first two years (for the most part) consist of taking general education courses. In most cases it is not necessary to take more than two or three courses in your major in your first two years. You can use the first two years of college as a way of discovering what you want your major to be.

Professors tend to be hostile to older, nontraditional students. The majority of college professors look upon their work as not merely a job, but as a higher calling. Most teachers love to teach. They want to help you succeed. If you demonstrate a genuine willingness to learn, the professor will find this both exciting and rewarding.

College graduates don’t really earn that much more money than non-graduates. The average college graduate earns about twice as much money per year than the average high school graduate.