You’ve Been Rejected: Understanding the Rise in Rejection Rates
You may have seen the headlines: College Rejection Rates at Record Highs. With schools like the University of Pennsylvania and Pomona College admitting less than two out of every 10 people who apply, you may think you’ll never get into your top-choice school. Don’t despair. The headlines appear daunting, but there’s more to rejection rates than these headlines would lead you to believe.
There’s no denying that 2007 was an extremely competitive year for college admissions. Highly-selective schools saw their admissions rates hover around 10 percent. Harvard University admitted a record-low nine percent of applicants. Even schools outside the Ivy League admitted fewer students this year, like the University of North Carolina at Chapel Hill, which accepted only 33 percent of applicants.
Why have rejection rates increased? A few key factors contribute to high rejection rates.
- The number of students enrolling in college has reached an all-time high. More than 17.3 million students enrolled in post-secondary institutions in 2005, which is more than three million greater than a decade ago, according to the National Center for Education Statistics (NCES). The number of students enrolling in post-secondary education is expected to continue its increase for the next few years. College enrollment is projected to reach 19 million by 2014, according to NCES.
- Students are applying to more colleges. Not only are there more students enrolling in colleges, they tend to apply to more colleges than before. Seventy-three percent of colleges reported an increase in applications in 2007, according to the National Association for College Admission Counseling (NACAC). Many colleges, like the University of Chicago, are seeing record numbers of applicants. The College Board suggests that some students are now applying to 20 or more colleges, while in the past five to eight colleges was the norm. “There’s so much panic out there that more and more students are applying to more colleges. That’s really a problem,” says Joe Casper a college admissions officer.
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Additionally, online applications have made it easier to apply to multiple colleges. An increase in the use of online applications has been reported by 85 percent of colleges, according to NACAC.
With an increased number of applicants for the same limited number of class positions, rejection rates are bound to rise at some schools. Despite the headlines, low acceptance rates publicized by schools like Harvard and the University of Chicago remain the exception—not the rule—when it comes to admissions. On average, four-year colleges accept seven out of every 10 students who apply for admission, NACAC reports. Most schools still accept more students than they reject.
There are over 4,000 colleges in the country and the whole conversation about rejection rates going up is tied to a relative handful of colleges, certainly less than 100, I can close my eyes and name over 100 colleges that are still accepting applications and would love to have more people and I can guarantee students could get into all 100 of them, says Casper.
To avoid being rejected, be realistic about your chances of being accepted. “A lot of students only apply to highly selective schools and they have no backups. Students need to do their homework and find out that these schools are such longshots and they’re not going to be accepted,” Keith Wren, an independent college counselor, says.
Casper suggests having one or two schools you’re sure you can get into, one or two that are a stretch but that you’re 70 percent sure will accept you, and one or two that are stretches. “Applying to a double-digit number [of schools] is absurd. It just means you haven’t done your research,” he says.
If you are rejected from all the schools you applied to, it’s not the end of the world. You’ll probably still be able to enroll in a local college in time for the fall semester. You can make plans to reapply as a transfer student for the spring semester. This time, follow Wren’s advice above, and do your admissions homework.
The New “Reverse Transfer” Student
Due to the present economy, there seems to be a new trend beginning in college admissions. Instead of the normal flow of students who move from two-year institutions to four-year institutions; more and more students are becoming “reverse transfers”, or students who leave four-year universities to attend a community or junior college.
For instance, Cuyahoga Community College in Cleveland, Ohio had an 11 percent increase in the number of “reverse transfer” students so far this year. These students came from a variety of public and private institutions around Ohio. Last year, 86% of the “reverse transfers” to CCC came from public institutions, while 14% came from private institutions.
However, this “reverse transfer” phenomenon is not just a regional trend. The recession has led to surge in community college enrollments this year. Nationally, the American Association of Community Colleges publicized that over 30% of all two-year students previously attended a four-year institution. They expect the number of “reserve transfers” to continue to rise as the economy worsens.
The current economy has created havoc in many family’s college decision-making process. Don’t second-guess your ultimate college choice based on price! Please call us first! We have helped many families dramatically lower their actual cost of college, especially at private colleges.
College Bits And Pieces
- On Monday, the nation’s largest student-loan provider, Sallie Mae, will begin requiring borrowers who take out its private loans to make interest payments while they are still in college and repay their loans in 15 years or less, rather than the typical term of 15 to 25 years. The company’s goal is to reduce the costs of borrowing, thereby lowering the risk of default, and making private loans more attractive to investors.
- In a national address on Tuesday, March 10, President Barack Obama called for the simplification of a financial aid application. “Never has a college degree been more important. And never has it been more expensive,” Obama said. “We will simplify federal college assistance forms so it doesn’t take a Ph.D. to apply for financial aid.” However, according to many college financial aid directors, this “simplification” process will take several years to complete.
- Applications for federal financial aid are up way up this year. The National Association of Student Financial Aid Administrators reports that it has already processed 3 million FAFSA forms for the upcoming 2009-10 school year, a 20 percent jump from a year ago in the same time period. Federal direct-lending volume also increased to $20.2 billion, up $7.1 billion over a year ago.
- Harvard University will reduce about 15 percent the amount it draws from its endowment to fund operations during the next two years, resulting in a $52 million cut next year to the budget. Harvard’s endowment, the largest of any school in the U.S., fell 22 percent, or $8 billion, from July 1 through Oct. 31, 2008 putting the fund on course to have its worst performance in at least four decades. “Our strong sense is that an eventual recovery will take longer, and that we must therefore begin to accommodate a new economic reality for the university,” said John Longbrake, Harvard University’s spokesman.
When Grad School is a Bad Idea: Five Signs You Shouldn’t Enroll
There are good reasons to go to grad school – to pursue an interest you’re highly engaged with, or to take the next step necessary to meet your career goals. There are also bad reasons to go to grad school. Think twice about earning an advanced degree if one of your primary motivations for going to grad school falls into one of the following categories.
- You’re not thrilled about your current job.
It’s easy to fantasize about leaving your less-than-dream job and going to graduate school, but think carefully about your motivation for getting an advanced degree before you hand in your letter of resignation. Graduate school is a lot of work and a big investment. If your motivation for going to graduate school is more to escape your unfulfilling job than because you want to pursue an interest that you are passionate about, you should reconsider. First, address what’s wrong with your career or a few years from now you may find yourself in another crummy job but with an advanced degree. - You’re having trouble finding a job.
You’ve sent countless resumes, sat through dozens of interviews, and still haven’t been offered a job that excites you. While some fields, like law or medicine, require advanced degrees to get ahead, in many fields a graduate degree is not a prerequisite. If you lack valuable experience, it may take time to land a job in your field even if you have completed graduate school. An advanced degree won’t necessarily solve all your employment issues. It could be more worthwhile to continue your job search. Assess your career goals and evaluate if returning to school now is the best move. - You really like academics.
You like taking classes, you like interacting with other students and professors, you even like studying. Continuing your studies at grad school and earning a Ph.D. makes sense, right? Maybe not. Just because you enjoy being a student, doesn’t mean pursuing a career in academia is the best idea. Get a more realistic picture of the challenging aspects of a career in academia before you commit to a program. Additionally, when it comes to post-graduate study, you need to focus on one area of study that interests you and have a clear sense of how an advanced degree will help you reach your academic and career goals. If you enjoy academics but don’t have a clear sense of what you want to study or what your chances for a fulfilling career in academia are, take time to weigh other options. - Everyone’s doing it.
Your roommate is sending in applications, your old lab partner just finished their first semester at grad school — it seems like everyone is earning an advanced degree. You may not have been considering graduate school before, but now it seems like you’ll be left behind if you don’t. Are you making a mistake entering the job market? Probably not. Enrolling in grad school right now might not be the best decision for your career and academic goals. Grad school may make sense for your friends but not for you. Don’t let what your friends are doing persuade you to make the wrong decision. - Your parents want you to go.
Many parents take an active role in their children’s educational and career decisions. Your parents’ influence may be subtle or could be more in-your-face, but don’t let them decide your future for you. Chances are you’ll end up miserable in a job your parents like more than you do. Figure out whether the career you’re considering — and the advanced degree that goes with it — is your idea or your parents before you enroll in grad school.
Tax Primer: The Basics of Filing
If you’ve never filed taxes, it can seem pretty intimidating. But it’s really not as bad as you think. Arm yourself with some basic information before reporting to Uncle Sam.
Learn the Language
Before you dive in, master some of the terms you need to read IRS documents:
Earned income – Salaries, wages, tips and professional fees, including taxable scholarships and fellowship grants.
Unearned income – Investment-type income like interest on your savings account, dividends and capital gains, as well as unemployment compensation.
Gross income – All income you received in the form of money, goods, property and services that is not exempt from taxes.
Exemptions - A predetermined amount of money you can deduct from your taxable income for basic living expenses. You, as an individual, may be an exemption, and dependent children (which you probably are to your parents) qualify as exemptions.
Standard deduction – A set amount of money that the federal government gives you if you meet certain stipulations. It differs according to marital status.
Itemized deductions - There are six main categories of expenses that can be deducted: medical and dental, taxes, interest, charitable contributions, and casualty and theft losses. Itemized deductions reduce the amount of tax you owe.
W-2 Forms - Wage-income forms that you receive from employers in order to prepare your taxes.
Filing status - Whether you are single, married or head of household. There are several sub-categories within each of these as well.
Deciding Whether (and What) to File
Depending on your gross income, you may or may not be required to file. For example, in 2000, all individuals under 65 with a minimum gross income of $7,200 were required to file. Even if your parents (or someone else) can claim you as a dependent, you may be required to file if you meet certain income conditions.
When determining your income, be sure to include all taxable income you receive. If your scholarships are not taxable, you need not include them in your income. (Non-taxable scholarships carry no service requirements and are used to cover education-related expenses).
But if your scholarship money is paid in exchange for teaching, research or other services, it is taxable – even if you don’t receive a W-2. This includes work-study income and pay you receive as a teaching or residential assistant.
“Students really need to know that even though they might not be required to file, they may have some withholding taxes from a job,” says an Internal Revenue agent in Kansas City, MO. As a student, your income probably won’t reach filing minimums, but you’re still having taxes withheld by the federal government. “If you file, you’ll likely get that money back,” he says. And if you don’t, then the government will gladly keep it.
Choosing a Form
To file your taxes, you need to fill out one of three basic forms:
- 1040EZ: The simplest tax form; consists of a single page. Requires a taxable income of less than $50,000 and interest income of less than $400. Restricted to singles and couples with no dependents. Cannot itemize deductions or deduct IRA contributions.
- 1040A: A more complicated form, allows more flexibility in income sources (including pensions, IRA dividends and retirement benefits). Also requires a taxable income of less than $50,000. Cannot itemize deductions but can deduct IRA contributions.
- 1040: The most complicated form sometimes called the “long” form; required if income is more than $50,000. Can itemize deductions to adjust income.
For most students, the Form 1040EZ will suffice. If you’re not sure and want to include more sources of income and deductions, you can always file one of the more complicated forms. If you itemize your deductions, you’ll also have to complete Schedule A of your 1040.
Itemizing Deductions
The federal government allows you to deduct certain specified expenses from gross income. The result is a lower tax base – and less tax that you have to pay. You’ll need to fill out the 1040 if you want to itemize deductions.
You should itemize your deductions if they total more than your standard deduction (the standard amount you deduct from gross income on the 1040EZ and 1040A forms). However, certain people must itemize even if their deductions are less than the standard deduction. For example, you must itemize if you are married, but filing separately and your spouse is itemizing; or if you are a nonresident or dual-status alien.
When to Pay
The deadline for taxes is April 15 after the year for which taxes will be filed. You can get an automatic four-month extension, but this is not an extension for paying. It’s only an extension to file. If you know you’re going to owe taxes, you still have to pay by April 15.
Getting Help
The IRS now has a 24-hour, 7-day toll-free number to help answer questions during the tax crunch period. The number is 800-829-1040. You can also call this number to get the location of the nearest IRS office. You can get free tax assistance at any IRS office. It’s probably a good idea to make an appointment, the IRS advises. Also, look for help online at www.irs.gov.
Learn the basics for how to file, and come next April, you can file your taxes with ease.
Health Insurance for Grads
College graduation is upon you. You’re probably worried about getting a job and finding a new apartment, but have you thought about health insurance? You may find yourself suddenly uninsured once you get your diploma.
New college graduates are among the least likely groups to have health insurance, according to the (NCHC). Most students are no longer covered by their parents’ insurance after they graduate. Roughly 40 percent of new graduates do not have insurance, according to a survey. Don’t count on receiving health insurance once you get settled into a new job either. Not all employers offer coverage. The percentage of employers offering health insurance has dropped, with 61 percent of employers offering their employees health insurance in 2006, down from 66 percent in 2000, as reported by the .
University Health Plans – If you have a that was started before entering your fall semester, you may be able to retain your coverage until the end of the August after graduation. These programs are run by the students’ health centers or in partnership with private insurers. Some alumni associations, such as the George Mason Alumni Association, offer plans to members, but these are usually limited to short-term coverage. Some policies, like those at, partner schools with insurance providers. Charges vary depending on the policy and factors like deductibles and co-payments. Students living in Massachusetts, New York, New Jersey and Vermont can participate in alumni insurance plans, however, short-term health insurance is not available.
Permanent Health Insurance – If you want insurance coverage beyond the time limits usually set with short-term health insurance plans, you can purchase permanent health insurance. Permanent health insurance is the most expensive option, but may be a good choice if you plan on being self-employed. When considering various plans, take note of coverage’s, co-payments, deductibles, and limitations on drugs and access to specialists. What is the maximum you’ll be covered for? Are there restrictions on the physicians you can use? You can compare various plans at.
Your Student wants Some Credit
Going to college means managing your own money—and credit card companies know it. Students are bombarded with applications for credit cards. Before you send away for plastic, ask yourself: Do you really need a credit card?
The Pros
A credit card can cover a few expenses while you wait for cash from your financial aid plan, part-time job or parents.
If your car breaks down while you’re traveling to campus, a credit card can be a lifesaver. Booking travel arrangements, like airfare home for the holidays, also becomes easier with credit.
Moreover, the credit card “loan” you get may be interest-free for nearly a month, since most banks allow cardholders a grace period to pay the balance.
A credit card also serves as a form of identification, even if you don’t use it for charging things. And if you always pay the balance on time you establish a good credit record, which is critical for making future large purchases
The Cons
But let’s look at the downside: A credit card can sometimes make shopping a little too easy. Large balances can build up quickly. You may suddenly find it takes all your extra cash just to make the minimum payments.
Credit cards can be a very expensive means of borrowing. If you put $500 worth of books on a credit card charging 18 percent interest, made monthly payments of $20 and charged nothing else to that card, it would take two years and seven months to pay off that debt. In the end, $500 in books would cost you $619.50. Online debt calculators can show you the numbers for your own circumstances.
Tips for Good Credit
So as you sort through the applications that cram your college mailbox, here are a few tips:
- Carry only one card. This will keep you from “maxing out” several cards at high interest rates.
- Read the fine print. Look for cards with no annual fee. Some cards charge fees for services you don’t need.
- Beware of cash advances. Virtually every credit card charges a cash advance transaction fee—usually $5 or two percent. Your repayments will probably be figured at a higher rate of interest as well.
- Check out annual percentage rates. They can vary from single digits to more than 20 percent (especially for cash advances). Some lenders charge a fixed rate; others follow the prime lending rate. Study the applications or run an online search to make sure you’re getting the best deal.
- Look for a generous “grace period.” That refers to the amount of time a lender allows before charging you interest on the balance due.
- Get a card with a low credit limit. A card with a limit of only $500 to $1,000 will help you control your spending.
To keep your credit clear, set limits on how much you charge and pay the balance on time. By setting spending limits, you can enjoy the benefits of credit while steering clear of debt.
The Verification Process
In the last two newsletters we discussed the Free Application for Federal Student Aid (FAFSA) and the Student Aid Report (SAR). Once the government calculates your family’s Expected Family Contribution (EFC), it will then be displayed on a Student Aid Report (SAR). Once the colleges receive their copy of the SAR, they may decide to do a verification (audit) of the financial information provided by your family. Verification is a simple process for families and if your financial aid application is selected for verification, the school will require you to submit additional documentation, such as signed copies of your IRS tax returns, W-2 and 1099 forms. The federal government selects 30% of the FAFSAs for verification. Some private colleges will select as many as 100% of the FAFSAs for verification.
The Financial Aid Award Letter
Once the verification process is completed, each college will begin the process of issuing financial aid award letters to all deserving students. This includes many high income families whose students will attend higher-priced private colleges. Private colleges often provide tuition discounts to reward good students from high income families.
The family should compare the financial aid package from each college. Do not look just at the total amount of aid, but conduct a bottom-line analysis of the net out-of-pocket cost of attending each school. Different schools, for example, may have different costs for room and board.
Depending on the type of college (private vs. public), you can appeal your award letter after finding out what your financial aid package entails. Private schools have institutional grant money that can be negotiated, but state schools are funded by the state and have less flexibility. Unfortunately, even private college financial aid packages can fall short of what you anticipate. You may also receive an award from a second-choice school that is more generous than the one from your first-choice school. But a school’s first financial aid offer doesn’t have to be its last. Improving your aid award is possible.
If you are appealing an award package, you should be able to demonstrate that there is a legitimate need for additional aid. For example, you may have had a change in employment or an unusual family circumstance, since completing your initial financial aid application. Since May is the standard time to notify colleges of your decision, you’ll need to take some swift action.
As financial aid offers turn up in your mailbox, you must first do three things if you want to try for an improved aid package:
1. Understand the Components – First, you have to fully grasp what each school is offering you. Although, the financial aid award letter varies in format from school to school, it should contain the following items:
- Your cost of college
- Your family’s expected financial contribution (EFC)
- Your family’s need (the cost of college minus your EFC)
- A listing of each aid source and dollar amount
- A date by which you must return the award letter
- Information on “appealing” any detail in the award letter
2. Compare Packages – Next, compare your aid packages carefully. They can be as different as night and day. Consider the amount you have to pay out of your pocket now and how much you’ll eventually have to repay in the future. In other words, be wary of how much of the award is in the form of loans.
3. Respond to the Award Letter – Don’t delay in responding to this award letter just because you’re still waiting to hear from other schools. If you don’t reply on time, the aid package can be revoked. Responding to an award letter does not commit you to attending the school(s); it merely safeguards your award. In responding, you have three choices – you can accept the award in its entirety, you can accept some components and reject others, or you can reject the offer entirely and request a revision in the composition of the package.
If you’ve decided to ask for additional aid, you will need to persuade the financial aid administrator (FAA) of the college. Be sure to contact the FAA as early as possible because the school’s extra discretionary aid runs out fast. Present your case in a well-thought-out and diplomatic manner. If you have a legitimate argument, you should support it with documentation.
Time is of the essence and an improper award letter appeal could cost you thousands of dollars. Contact our office as soon as your receive your award letter and we’ll help you develop an appeal strategy, prior to discussing your appeal with the FAA.
The author of this newsletter is Chuck Reilly.
If you have any questions about the information contained in this newsletter, or any questions about college funding in general, please contact our office.
Unusual College Majors
With so many new and unusual undergraduate majors at colleges and universities across the country, today’s students have more options than ever. Fans of the outdoor life can major in adventure recreation at Green Mountain College in Poultney, Vermont. Students with this major can also gain professional certification in areas such as whitewater rafting, open water diving, skiing and snowboarding. Students at the University of Denver can earn bachelor’s degrees in computer gaming and animation.
At Mansfield University in Mansfield, Pennsylvania, the biology department offers an undergraduate fisheries major through which students can be certified as associate fisheries scientists.
Students at Texas Christian University (TCU) in Fort Worth can get bachelor’s degrees in ranch management.
A love for horses can lead to a major in equestrian science or equestrian business management for students at Stephens College in Columbia, Missouri. The major is designed for students who want to work professionally in a horse-related field.
Dance the night away at Birmingham-Southern College (BSC) in Birmingham, Alabama, where students can major in dance education.
Though some of these majors may sound like fun and games, many have tough prerequisite and core classes.
Green Mountain requires all students who want a bachelor’s in adventure recreation to take classes in outdoor emergency care and leadership skills.
Before TCU students can take any ranch management classes for their major, they are required to complete a business minor. Business classes include economics, accounting and finance.
Required courses for fisheries majors at Mansfield include ichthyology (the branch of zoology that studies fish) and limnology (the study of fresh-water life).
In addition to taking riding classes, Stephens students majoring in equestrian science or equestrian business management also take classes in business and management, horse nutrition and applied equine anatomy.
BSC students in the dance education major must complete all the dance major requirements before they can earn a teaching certificate.
Students who graduate with a degree in an unusual major have a variety of job options to choose from after they graduate.
Fisheries program grads can find jobs with private fish farms or the U.S. Department of Agriculture, for example.
Equestrian graduates can earn livings as barn owners or managers, horse trainers, riders and teachers. Graduate school is also an option for equestrian majors. Some students earn an MBA or go to veterinary school.
Undergraduate Research
Are you ready to take your learning out of the classroom? Do you want to follow your own interests and work on related projects? Maybe it’s time to consider doing research. Whether your field of study is neuroscience or the social sciences, undergraduate research can be an enriching and valuable experience.
Benefits
Undergraduate research can help motivate students to further pursue their area of interest. “It’s very useful to actually work on a project and know exactly what that type of research is like,” says Justin, a graduate student at Cornell University who did undergraduate research with liquid crystals. “It gave me a solid foundation and inspiration to do the master’s in engineering. It also gave me a lot of useful laboratory skills.”
For James Burkhardt, a graduate of UCLA, his undergraduate research on Latino community formation in LA got him his job as a field deputy for an LA city council. “My research experience helped me develop my writing skills and understand public policy and politics,” Burkhardt says.
“What Kind of Research Can I Do?”
Although the options are limitless, there are two common avenues:
- Independent research. Many schools offer the opportunity to design and execute your own research projects, either as an independent study course or as part of a school-wide research program. To find an appropriate project, pick a subject that you’re passionate about and explore what’s been done in the past. Discuss ideas and potential projects with your professors. They can help you design a manageable project and plan how you’re going to complete it.
- Assist professors and university staff. Some professors have extensive research projects that require dozens of people to assist, including undergraduates. Opportunities like this help you develop a sense of “belonging,” or “rite of passage” into your chosen discipline. Research of this nature can also provide valuable networking experiences. But don’t expect to be splitting the atom on your first project. “In some labs, it’s hard for an undergraduate to do truly independent research, but they can help and observe,” says Barbara Knowlton, Ph.D., associate professor in the department of psychology at the University of California, Los Angeles.
Getting Guidance
The key to undergraduate research is finding a professor or faculty member who will assist you. To find the best mentor, follow three steps: 1) identify your potential mentors, 2) learn about their background and interests and 3) contact your best prospects.
To identify potential mentors, check out who’s available on your campus. Start by seeking information and advice from teachers whose courses you’ve enjoyed. Attend lectures in areas that interest you. Check departmental Web sites for faculty research interests and publications. Find out which faculty members have supervised undergraduate research in the past. Teaching assistants can be great sources of information.
Once you’ve assembled a list of potential resources, learn something about the faculty member’s area of interest. This will help you ask intelligent questions and justify why you have come to this particular person.
Your next step is to contact potential mentors. “The best way to do this is to knock on doors and talk to professors,” Justin says. “Professors love talking about their own research.” Remember to be persistent. “Even if you swing and miss the first time, you shouldn’t be afraid to go right down the hallway and find someone else,” Justin says.
Getting Funding
Funding for undergraduate research can be tricky, but it’s not impossible. Organizations like the Council on Undergraduate Research help undergraduate students in all settings of science, mathematics, and engineering education find funding for research. Your professors or department heads can also be good resources.
Getting Credit
One you’ve found a project, talk to the department head about getting credit for your work. There may be an official program that covers undergraduate research. Or you might need to set up an independent study. You might even use it as work-study or as part of a grant that either you or a professor has won.
Keep in mind that earning an “A” for your independent study doesn’t mean your research has to be successful from initiation to publishable conclusion. “Your final grade is based more on how you work through the data on the research, and how you interpret your research,” Justin says.
Research can enhance your undergraduate experience by allowing you to take the skills you have learned and apply them to real situations. No matter where your academic interests lie, undergraduate research is well worth considering.
The Confusing Student Aid Report (SAR)
The Student Aid Report (SAR) is a confusing government-type report that summarizes the information that you provided on the FAFSA financial aid form. The following are some guidelines involving the SAR.
Your SAR will usually contain your Expected Family Contribution (EFC), the number used in determining your eligibility for federal student aid. Your EFC will appear in the upper right-hand portion of a paper SAR and at (or near) the top of an electronic SAR. If there is an asterisk positioned next to the EFC figure on the SAR, then the data you submitted has been selected for verification (audit). If you do not have an EFC number on your SAR, then more information may be needed from you to process your data.
If you provided an e-mail address when you applied for aid, you will receive your SAR by e-mail 3-5 days after your FAFSA has been processed. This e-mail will contain a secure link so you can access your SAR online. If you did not provide an e-mail address when you applied for aid, then you will receive a paper SAR by mail in 7-10 days after your FAFSA has been processed. Regardless of whether you applied online, or by paper, your financial data will automatically be sent electronically to the schools you listed on the FAFSA.
Once you receive the SAR, review it carefully to make sure it’s accurate and complete. The school(s) you’ve selected to receive your SAR will use this information to determine if you’re eligible for federal – and possibly nonfederal – student financial aid funds.
If you need to make corrections to your SAR, you can make them online using your PIN number. Go to http://www.fafsa.ed.gov and select “Make Corrections to a Processed FAFSA.” If you received a paper SAR, make any necessary corrections on that SAR and mail it to:
Federal Student Aid Programs
PO Box 4038
Washington, DC 52243-4038
If you do not receive your SAR, call the federal processor at 1-800-4-FED-AID.
Once your SAR is accurate and complete and you are eligible for federal student financial aid, each school will send you an Award Letter.
U.S. News & World Report Ranks Colleges For 2009
Each year the popular magazine U.S. News & World Report ranks the top colleges in various categories. Here are the latest rankings for the categories Best College Value, Best Merit Aid Awards, Most Selective Colleges, and Best Retention Rates.
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Best College Values |
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Percent Of Students |
Average Discount |
|
College |
Receiving Grants |
From Total Cost |
|
Harvard University |
51% |
68% |
|
Princeton University |
53% |
66% |
|
Yale University |
42% |
64% |
|
MIT |
61% |
59% |
|
Stanford |
42% |
63% |
|
Calif Institute of Tech |
52% |
56% |
|
Dartmouth |
50% |
60% |
|
Columbia |
46% |
60% |
|
U of North Carolina |
35% |
50% |
|
Rice University |
34% |
53% |
|
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Best Merit Aid Awards |
|
|
|
|
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Percent Of Students |
|
College |
Receiving Merit Aid |
|
Cooper Union |
100% |
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Anderson University |
95% |
|
Sierra Nevada |
93% |
|
University of Mobile AL |
73% |
|
Avila University |
63% |
|
Dillard University |
56% |
|
New College of Florida |
54% |
|
University of Florida |
52% |
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Denison University |
51% |
|
Hampden-Sydney College |
50% |
|
Ouachita Baptist University |
50% |
|
Seton Hall University |
49% |
|
University of Nevada/Reno |
48% |
|
Trinity University |
47% |
|
DePauw University |
46% |
|
University of Michigan |
45% |
|
Longy School of Music |
45% |
|
Louisiana College |
45% |
|
Kalamazoo College |
45% |
|
Westminster College Fulton |
43% |
|
|
Most Selective Colleges |
|
|
|
|
|
Colleges With |
|
College |
Lowest Acceptance Rates |
|
Curtis Institute of Music |
4.80% |
|
Juilliard School of Music |
7.70% |
|
Harvard University |
9.20% |
|
Princeton University |
9.70% |
|
Yale University |
9.90% |
|
Stanford University |
10.30% |
|
Columbia University |
10.60% |
|
Cooper Union |
10.70% |
|
United States Naval Academy |
11.80% |
|
College of the Ozarks |
11.80% |
|
MIT |
12.50% |
|
Brown University |
14.00% |
|
National-Louis University |
14.30% |
|
U.S. Military Academy |
15.00% |
|
Dartmouth College |
15.30% |
|
University of Pennsylvania |
16.00% |
|
Claremont McKenna College |
16.20% |
|
Pomona College |
16.30% |
|
Calif Institute of Technology |
16.90% |
|
Washington University |
17.30% |
|
|
Best Retention Rates |
|
|
|
|
|
Colleges With |
|
College |
Highest Retention Rates |
|
Yale University |
98.50% |
|
MIT |
98.00% |
|
Stanford University |
98.00% |
|
Princeton University |
98.00% |
|
University of Pennsylvania |
98.00% |
|
Dartmouth College |
98.00% |
|
Calif Institute of Technology |
97.80% |
|
Columbia University |
97.80% |
|
University of Notre Dame |
97.50% |
|
Notre Dame |
97.20% |
|
Brown University |
97.00% |
|
Harvard University |
97.00% |
|
University of Chicago Chicago |
97.00% |
|
Northwestern University |
97.00% |
|
Rice University |
97.00% |
|
U of California – Los Angeles |
97.00% |
|
Washington University |
96.80% |
|
Georgetown University |
96.80% |
|
U of California – Berkeley |
96.50% |
|
University of Virginia |
96.50% |
The author of this newsletter is Chuck Reilly.
If you have any questions about the information contained in this newsletter, or any questions about college funding in general, please contact our office.