Don’t Forget to Look at Graduation Rates

MarketWatch: “Too few students … realize the importance of high graduation rates as a factor in selecting a college. Having a high graduation rate is an indication that an institution has supports in place to help students succeed. Support can mean anything from having sufficient financial aid and scholarships to ensure students can afford to finish their degree to offering enough sections of required courses so that students aren’t shut out of classes they need to graduate. Sometimes it means they have robust academic advising and mentorship programs, or provide housing and transportation options, or child care. Often, it’s a combination of these things and more.”

“Students who enroll in schools with lower graduation rates have often opted out of applying to institutions with higher rates of student success and miss out on these support systems. Many assume the most selective institutions are not an option because of the sticker price. Others don’t think to compare graduation rates when looking into colleges or universities with higher acceptance rates.”

“There have been attempts to make information like graduation rates more readily available to students by the federal government, including College Navigator and the Obama administration’s College ScoreCard, which was just expanded to include, among other things, more transparency around graduation rates … It’s this kind of data that can empower students to select institutions that have the best track record for ensuring that students receive a college degree with limited debt.”

Financial Aid: What Goes On, Really?

Of all the most frequently asked questions about college admissions, financial aid probably comes up most often. Inquiries typically start with the basics, such as “what is the difference between merit and need-based aid?” The quick answer is that merit aid, or scholarships, are dollars donated by people who are either very wealthy or very dead and are designed to entice students from the top tier of the applicant pool, regardless of financial need. Need-based aid generally refers to the government grants and loans allocated through FAFSA, as well as other sources, that are determined by the student’s ability to pay.

Financial-aid questions quickly escalate to murkier turf where definitive answers are scarce. One question we hear on almost a daily basis is whether applying early decision effectively closes the door on getting any merit aid. The answer would seem obvious, since why would a school throw money at a student who is legally bound to attend, scholarship or not? However, the real answer depends on which school you ask. We heard an unexpected perspective at a roundtable discussion among four vice presidents of enrollment during the recent IECA conference in Chicago.

Without naming names, some schools say that, contrary to popular belief, early-decision students are indeed sometimes awarded scholarships. The reasoning is that if a school were to gain a reputation for denying early-decision students merit aid, it would depress the number of quality applicants and the school would miss out on some really great kids. This does make some sense, although a healthy dose of skepticism is also understandable. It’s not so much that these schools are making false claims as it is that the policy almost certainly varies from school to school. So, if merit aid is a consideration, it would be worth researching a school’s position on merit aid before submitting an early-decision application.

A somewhat related question is whether students who are not declaring an intention to apply for need-based financial aid are unlikely to be awarded merit scholarships. Why give money to students who don’t need it? Once again, the intuitive answer may not be correct. One of the enrollment VPs said that providing scholarships to wealthy students actually makes more need-based money available to those less well-off.

Part of the reason is that tuition increases each year, but the scholarship award does not, and overall revenues rise accordingly. So, in a way, these students help support revenue growth. In addition, similar to the early-decision scenario, schools may view the potential scholarship as an incentive to apply even to students who don’t need the money. After all, scholarships are an honor, and not necessarily just about the money. Awarding merit aid makes a student feel wanted, which is a big deal. Once again, some schools are also wary of doing anything that might discourage high-quality applicants.

All of this is to say that navigating the financial aspects of a college application is complicated, and it is best to research, ask questions, and never assume anything. That much you can take to the bank.

21 Fun Facts About 12 Colleges

At the 2019 IECA Spring conference, a collection of colleges was invited to explain themselves, lightning-round style, in five minutes or fewer. Here is some of what we remember about what each of them said.

Brandeis is not a Jewish college, but it is Jew-ish. It is non-sectarian and 50% of its student body is of other backgrounds. Franklin & Marshall is located in “hip, artsy” Lancaster, Pennsylvania. Kirkwood Community College in Kirkwood, Iowa, attracts students from 38 states. Tuition is $6,400 a year, and on-campus housing another $5,500. It has a 5-star hotel on campus. Lawrence University in Appleton, Wisconsin may sound “not very big” but it has three campuses and a conservatory.

Lynn University in Boca Raton, Florida, posts all assignments via an iPad app. Oberlin College in Oberlin, Ohio, was the first to go co-ed and admit students of color. It teaches students how to think, not what to think, and embraces smallness.

Ohio Wesleyan is only 20 miles from Columbus. RIT, in Rochester New York, is career-oriented and is one of a handful of schools offering a co-op program. Sometimes it snows. University of British Columbia also has a co-op program and all students get a three-year work permit upon graduation. Buses are free because … Canada. University of Pittsburgh is actually three miles from downtown but is still an urban campus. Known for sciences, it guarantees undergraduates admission to graduate programs. Ursinus College is near Philadelphia, has an organic farm and 75 outdoor sculptures.