In this week’s edition of Red Team’s College Planning Newsletter, we bring you:

• 🚨 Upcoming Milestones/Deadlines

• ✏️ Insider Insight

• 📰 News on College Admissions/Financial Aid

• 💡Your Questions, Answered

Read Time: 5 minutes

Parent Fall Priorities

Senior Parents

• The first early application deadline for many colleges is October 15th.

• Remind your student that admissions people want to hear their story. Not hear from a perfect student, which of course does not exist.

Junior and Sophomore Parents

• Help your student start a LinkedIn account as soon as your student turns 16 years old.

• Follow prospective colleges and post pictures/videos of student accomplishments on Linkedin.

Freshmen Parents

• Have your student take a practice SAT and ACT.

  Colleges don’t have a preference between the two tests anymore, so find out which test your student naturally scores better on before starting intensive prep.

Updates:

• The Dept of Education says FAFSA will open around mid-December. We predict it may be closer to January 1st.

• The CSS Profile (required by most Private colleges and some Public) will open on Oct 1, 2023. It is free for families making less than $100k.

• Remember that even if you are high-income, you should submit these forms to be considered for merit (think academic and talent) scholarships.

News:

Does my high SAT/GPA student have a decent chance at an IVY?

TLDR: The right SAT/GPA will get you past the first round of rejections. From there, it gets murky and subjective.

While high SAT scores are certainly an important factor in the college admissions process, they do not guarantee acceptance into Ivy League schools.

Ivy League institutions say they consider a holistic approach when evaluating applicants, taking into account various aspects such as extracurricular activities, leadership roles, community service, essays, recommendation letters, and personal qualities.

That doesn’t usually mean that they consider all things equally. The first round of cuts is often SAT/GPA. Then they move to their “holistic approach”.

Some Ivy League colleges are getting brutally honest about this reality.

"69 percent of Stanford's applicants over the past five years with the highest SAT score possible - didn't get in"– Stanford University

These universities aim to build a diverse and well-rounded student body that will graduate ON TIME. There are many kids who would fit that bill so they can get very picky about what they want in a given year. Not just because they can but because they have to. There are so many students with the SAT/GPA qualifications to get in. But just because they are qualified, doesn’t mean they get in.

Last year, Admissions officers looked for students who demonstrate intellectual curiosity, passion, resilience, and a genuine commitment to making a positive impact in their communities. What will the magic words be this year?

Join our webinar to hear our projections.

Every Live workshop attendee will receive 1 entry per family member in our $500 October scholarship drawing.

Parent Question: When should I start planning for college?

Of course, earlier is better.

But in the real world, where every parent feels like they are living life drinking from the fire hose of running a household…

Sophomore year of high school is the ideal time to start planning for the Expected Family Contribution (EFC) because junior year serves as the "base year" for colleges when determining financial aid.

Specifically, subtract two from your student’s graduation year to get their “Base year”. The base year is the year the colleges will scrutinize for income, dividends, rental property, etc.

2026 high school grad students=2024 base year

So in that case, any changes a family wants to make to finances should happen BEFORE 2024.

By beginning the planning process during sophomore year, students and their families can gather the necessary financial information and make any adjustments to their financial situation before the base year. This is especially true for parents who own their own businesses, small or large.

This is also the point in high school where a student might find they are beginning to pinpoint what they may want to study. If not, it’s time to start meeting with a Career Coach like Laura Sheehan to start thinking about where they might want to start the process.

This allows them to strategically position themselves for the most favorable EFC calculation. Starting early also provides ample time to explore various financial aid options, scholarships, and grants, and to develop a comprehensive strategy to minimize the financial burden of college.

By taking advantage of this crucial planning period, students can ensure they are well-prepared to navigate the complex world of college finances and make informed decisions about their future education.

If you want more support and details on how to help your student stand out and enjoy more independence in this process, book a spot in one of our free parent webinars or live workshops.

Our results speak for themselves.

I love what I do and appreciate your feedback! If you have questions you want answered or specific topics you want covered, email me.

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