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SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy 1
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Lynn O’Shaughnessy,

| Lynn O’Shaughnessy 2
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

By Lynn
O’Shaughnessy

The New York Times, Money Magazine, Los Angeles Times, CNN, Associated Press, The

This Morning and US News & World Report.

| Lynn O’Shaughnessy 3
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Chapter 1
Chapter 2
Chapter 3
Chapter 4
Chapter 5
Chapter 6
Chapter 7
Chapter 8
Chapter 9
Chapter 10
Chapter 11
Chapter 12
Chapter 13
Chapter 14
Chapter 15
Chapter 16
Chapter 17
Chapter 18
Chapter 19
Chapter 20
Chapter 21
Chapter 22
Chapter 23
Chapter 24
Chapter 25
Chapter 26
Chapter 27
Chapter 28
Chapter 29
Chapter 30
Chapter 31

| Lynn O’Shaughnessy 4
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Most people look


in the wrong place
for help when they
begin contemplating
the looming college
tab.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

SCHOLARSHIP SOURCE

44%
The biggest source of 36%
aid comes from the 9%

colleges themselves. 6%
0 50

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

net
your

The
AVERAGE GRANTS

Smart families $15,500


rarely pay full price $5,750

and neither should $3,770

you.

1.

2.

net price

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The average tuition


discount at private
schools is 49.1%.

1.

2.

US News & World


Report’s

3.

4.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

US News’

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

3.

1.

2. Beyond Need and


Merit: Strengthening State Grant Programs.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

US News & Word Report,

The most expensive


schools for
nonresidents are
now costing more
than $50,000.

| Lynn O’Shaughnessy 11
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy 12
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

3.

4.

1.

2.

3.

| Lynn O’Shaughnessy 13
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The majority
of the federal
government’s

the form of loans

| Lynn O’Shaughnessy 14
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Cal Grants

Don’t assume that


these state grants
are only good for
public universities.
1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The average private


scholarship is worth
about $2,500.

1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

3.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

In reality, most
families qualify
for some sort of

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

both

FAFSA

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

3.

4.

| Lynn O’Shaughnessy 21
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

2.

3.
PROFILE

| Lynn O’Shaughnessy 22
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

custodial

Some teenagers of
divorced parents
may end up
qualifying for need-
based aid even if
they wouldn’t have

parents had stayed


together.

| Lynn O’Shaughnessy 23
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

| Lynn O’Shaughnessy 24
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

EFC

You will subtract


your EFC from a
college’s cost of 1.

attendance.
2. College Search
3. Paying

s Paying

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

$39,388

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

Your demonstrated

vary based on the 1.


school’s price tag.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

College No. 1

________________________________________________________

___________________________________________________

___________________________________________________

_________________________________________________

_______________________________________________

___________________________________________________

_______________________________________________________

______________________

College No. 2

________________________________________________________

___________________________________________________

___________________________________________________

_________________________________________________

_______________________________________________

___________________________________________________

_______________________________________________________

______________________

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Thanks to a federal
mandate, colleges
and universities
across the country
have installed cost
calculator on their
websites.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

3.

| Lynn O’Shaughnessy 31
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Many colleges brag

aid policies, but


plenty of them
aren’t generous.
no-loan schools.

1.

2.

| Lynn O’Shaughnessy 32
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

US News & World


Schools like Report

Yale University,
Princeton
University, Amherst
College, Pomona
College, University
of Pennsylvania and
Haverford College
are extremely hard
to get into, but
if your child is
accepted into one of
these schools -- and

you’ve struck gold.


| Lynn O’Shaughnessy 33
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

| Lynn O’Shaughnessy 34
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

It’s best to focus on


schools that stuff
their aid packages
with grants rather
than loans.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Paying

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Parents’ savings
rarely impact

awards.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

3.

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

Colleges believe

can help them raise 2.


US News & World Report
their academic US News’

3.
hope will increase
their US News
& World Report 4.

rankings.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

1.

2. Paying Policies & Stats

Average Non-Need-Based Aid

| Lynn O’Shaughnessy 41
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The best way that


students can ensure
that they snag some
of this serious cash
is to boost their
GPA.

| Lynn O’Shaughnessy 42
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The New York Times.

Geography

1.

2.

3.

| Lynn O’Shaughnessy 43
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Students who don’t


test well on the
SAT or ACT can
also capture tuition
breaks.

| Lynn O’Shaughnessy 44
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Applying to reach
schools will often
jeopardize the
college grant money
that a student
receives. 1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

This website is
a quick and easy
resource for anyone
interested in

aid statistics on
any college or
university.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

non-need based aid

US News & World Report

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

Paying Policies & Stats

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

US News & World Report College Board

Common Data Set

The easiest way

Common Data is to
Google the name of
the institution and
Common Data Set.

non-need-based aid

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

H2A

H2A

H2A

H2A

H2A

4,412
3,071
2,152
1,968
363

$17,502
AVERAGE LOAN: $4,117

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Everyone Looking for the Right School at the Right Price.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Search for Colleges

COLLEGEdata is
a valuable resource
to consult when
researching a

aid practices.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

need-based
self-help category.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The College
Navigator, which
very few people
know about, taps
into a vast college
database that the
U.S. Department
of Education
maintains.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Name of School

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Financial Aid

$6,075.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

net price

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

six-year

At College Results
Online you can plug
in the name of any
school and obtain

six-year graduation
rates

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Google FAFSA worksheet

Most people are


clueless about
whether they are

aid or not.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

1.

2.

3.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

FAFSA on the Web Worksheet

You don’t have


to wait until

aid application for


PROFILE private
schools. 6. early decision

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Many families
hope they qualify

but they don’t


know what kind
of assistance is
available.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Try leverage.

as possible about
what further student

need.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

The typical college


undergraduate
leaves college with
about $23,000 in
college loan debt.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

1.

2.

1.

| Lynn O’Shaughnessy
SHRINKING THE COST OF COLLEGE: Great Ways to Cut the Price of a Bachelor’s Degree

Unfortunately,
there is no one
right answer to
the question of
how much parents
should borrow.

1.

| Lynn O’Shaughnessy
|

The College

| Lynn O’Shaughnessy
O N D E D I T I ON
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