Students Forgoing Their Dream Schools

By Mitch Gross | Jun 23, 2009

Recently, the NACAC (National Association for College Admission and Counselor) released results from a recent survey. According to the survey, 70% of high school students from the 2009 graduating class modified their college plans and chose more affordable options. The study also revealed that nearly 60% of respondents (i.e. high school guidance counselors) indicated an increase in the number of students planning to enroll in public versus private colleges in fall 2009, which supports the notion that students are no longer going for their “dream schools.”

While times are tough for many, students and their families are looking at the sticker prices and simply can’t fathom how they might be able to afford a $50,000/year education. While some schools re-allocated a portion of institutional grant dollars to their returning students, incoming freshman still stood a solid chance to get in with a generous financial aid package. We’re seeing

hundreds of award letters that support the notion that private institutions are still budgeting large amount of need-based grant dollars for the incoming class, albeit maybe not as generous as in year’s past.

It’s critical that families seek advice of a professional when applying for need-based aid, as there is simply no room for error given the current economic downturn directly impacting schools, in addition to the student’s family. Don’t let affordability get in the way. There are tremendous benefits in the career and life of an individual who pursues a top tier education versus a community college. Don’t allow your children to settle for anything less, if academically they can get in. There is still billions of grant dollars available for incoming freshman, but clearly it’s now more competitive than ever. Presenting your financial situation in the best light possible to the schools and the government is what will allow students, your children, to attend the school of their dreams and fulfill their aspirations.