The Sibling Factor: How EFC and Financial Aid Packages Can Change

When I worked in a Financial Aid Office, there was something that I could count on without fail every year. Whenever a student’s sibling graduated from college, I would inevitably get THE CALL from parents wondering “where has our financial aid gone?”

Behold the Sibling Factor: the effect on financial aid awards when siblings enter or leave undergraduate study. Parents might be delighted at the effect of a second child entering college (packages may increase). They get panicked, however, when a sibling leaves undergraduate study, and aid amounts for remaining undergraduate children decrease. (The other most common reason for changes to financial aid eligibility is a significant change in family income.)

While some colleges have pushed back their reply date from May 1 to June 1 or even later (we see you, Iowa State!), many students will need to commit to their college of choice within the next few weeks. We have suggestions for how to approach this decision, especially since visiting campus is not an option this year. We will also look into using financial fit as part of the college selection process. In Office Hours, we’ll offer options for students who don’t like any of the colleges that accepted them.

As I talk with high school juniors and their parents, it’s clear that one of their biggest concerns around the COVID-19 situation is standardized tests. With the March, May, and June SAT and April ACT test dates cancelled, students are hoping to test sometime in summer but are aware that even that may not be an option in every state. Such uncertainty is stressful, to put it mildly.

There are over 4,000 colleges and universities in the U.S. And while the media tends to focus on just a handful of schools, we at College Coach encourage students to think outside the box during their college selection process and explore a wide range of colleges. As such, we are highlighting a new college each week in our School Spotlight series. Check out the college below, along with the other posts in our series, and you may just stumble upon your dream school!

School Spotlight: Florida Southern College
Lakeland, FL

There is a scholarship (or many scholarships) out there for everyone. Every student has some skill, interest, experience, or characteristic that may make them an attractive candidate for one scholarship or another. And while we often refer to scholarships as “free money,” scholarships don’t actually come for free. It takes work to thoughtfully consider your strengths and research the scholarships that might be most appropriate for you. While the effort that goes into finding and winning scholarships may be akin to a part-time job, we at College Coach want to make your job a little easier. This on-going scholarship series highlights a new scholarship each week. Check out the below, along with the other posts in the series, and you may discover a funding resource that will make covering that college bill a little (or a lot!) easier.

Does your child like to write? Are they interested in political events and US history? Are they in middle school? If you answered yes to all three of these questions, this is an early college scholarship to consider applying for. And if you missed the deadline (or have older students), check out the Veterans of Foreign Wars’ other scholarship opportunity, the Voice of Democracy award.

Scholarship: Patriot’s Pen Scholarship

I think we can all agree that this is a challenging time for families, and trying to balance work and young children can be particularly difficult. While many days are hard and require a whole lot of patience, there are small moments and silver linings that are so important to focus on and enjoy in these uncertain times.

COVID-19 has had a significant impact on high school seniors and underclassmen, and on college finance. In today’s show, we’ll be tackling the question of how to get a feel for a college campus without visiting in person, and answering some of the questions (what if I don’t get any grades for the second half of my freshman, sophomore, or junior year) we’re getting from underclassmen. We’ll also walk you through the impact on every phase of college finance, from saving for college to paying for it to handling the loans once you graduate. Finally, we’re doing a listener Q&A to answer some additional COVID-19 questions and some that are completely unrelated.

College closures due to COVID-19 have upended the spring break plans of many high school students and families who were hoping to take campus tours. So, how can you get a feel for a campus when a visit isn’t possible? Former University of Pennsylvania and Reed College admissions officers, Elizabeth Heaton and Ian Fisher, offer tips on taking virtual tours and researching colleges, as well as guidance on how to connect with students and staff via email and social media. 

There are over 4,000 colleges and universities in the U.S. And while the media tends to focus on just a handful of schools, we at College Coach encourage students to think outside the box during their college selection process and explore a wide range of colleges. As such, we are highlighting a new college each week in our School Spotlight series. Check out the college below, along with the other posts in our series, and you may just stumble upon your dream school!

School Spotlight: Montana Tech 
Butte, MT

There is a scholarship (or many scholarships) out there for everyone. Every student has some skill, interest, experience, or characteristic that may make them an attractive candidate for one scholarship or another. And while we often refer to scholarships as “free money,” scholarships don’t actually come for free. It takes work to thoughtfully consider your strengths and research the scholarships that might be most appropriate for you. While the effort that goes into finding and winning scholarships may be akin to a part-time job, we at College Coach want to make your job a little easier. This on-going scholarship series highlights a new scholarship each week. Check out the below, along with the other posts in the series, and you may discover a funding resource that will make covering that college bill a little (or a lot!) easier.