University Business - March 2008 - (Page 21) DATA P O I N T 33% —Increase in African American applicants to Harvard this year. —The Washington Post S TAT S W AT C H Educating Parents about College Costs PARENTS RELY ON COLLEGES FOR INFORMATION ity with online college cost calculators. Southwestern University on the costs of education—with basic questions needing answers (Texas) has a homepage link to its “affordability calculator,” which most, according to results of the 2007 Survey of Parents of Col- families can use to see that a private institution, specifically Southlege-Bound Freshmen, released by Sallie Mae in January 2008. western, can be affordable. From December 2006 to January 2007, Of the 400 parents surveyed in September 2007, more than one- the calculator page was viewed 9,579 times, officials report. About one in 10 parents surveyed for Sallie Mae said they have third saw the college financial aid office as the best source of innot filed and don’t intend to file formation on costs. BEST SOURCE OF INFORMATION ON PAYING FOR COLLEGE: the Free Application for Federal When asked what they From the Parents’ Perspective Student Aid. sought most from this office, Encouraging families to file “an honest assessment of total Private counselors - 3% it can be done in a multitude of costs over four years of college” Other - 3% Financial planners - 3% College financial ways, as Abilene Christian Unicame out on top, with a 39 peraid office - 35% versity (Texas) officials know. cent response. And 32 percent High school Admissions office marketing sought “basic information about guidance campaigns, presentations, and federal loans, private loans, and counselor - 19% promotional brochures, as well payment plans.” “This points to as the merit-based award letter the need for increased dissemito students, remind families of nation of the most basic kinds the need to file. And a financial of info,” says Sallie Mae spokesaid step-by-step website highperson Beth Guerard. lights the importance of doing In communications with so, says Hayley Webb, direcfamilies, administrators cannot tor of Admissions. In addition, assume that an understanding Themselves - 19% Abilene Christian staff conduct of the importance of college translates to being prepared SOURCE: 2007 Survey of Parents The internet - 18% admissions and financial aid of College-Bound Freshmen, seminars both on campus and financially. While 82 percent www.salliemae.com on the road, encouraging famiof respondents said a college education is worth the cost, fewer than half said college is afford- lies to start the college planning process earlier. With only one-third of Sallie Mae survey respondents wishing able. Fewer than one-quarter of families began initial discussions about college payment before or while their child was in elemen- they had begun saving for college earlier, Guerard says, “it appears families would benefit from increased and earlier education about tary school. Some colleges have acted on the perception of unaffordabil- saving for college.” —Melissa Ezarik Call for Nominations: Dorms of Distinction THE AUGUST ISSUE OF UNIVERSITY BUSINESS WILL CONTAIN A FEATURE HIGHlighting student residence halls designed to meet the needs of today’s student. These Dorms of Distinction will be chosen for their ability to: • make students feel at home; • foster a sense of community through interior and/or exterior spaces; • help keep students and their belongings safe; and • incorporate “green” elements in an aesthetically pleasing way. Nominations will be accepted through May 1 for on-campus and off-campus student residences and for two- and four-year colleges and universities. To request more information, please send an e-mail to dorms@universitybusiness.com. universitybusiness.com March 2008 | 21 http://www.salliemae.com http://universitybusiness.com
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