5 Reason to Use The New York Times Build Your Own College Rankings…and 4 Things to Watch Out For

Female student using 5 Reason to Use the New York Times Build Your Own College Rankings and 4 Things to Watch Out For on laptop

Female student using New York Times Build Your Own College Rankings tool on a laptopShould you use The New York Times Build Your Own College Rankings? Let’s face it, just because it’s from The New York Times, people are going to look, right? Which I did. I have to admit that I was pleased with several aspects of their rankings which incorporate some elements that I have long been advocating. But I’m not going to retire my DIYCollegeRankings spreadsheets just yet. While the Build Your Own College Rankings gets some things right, there are other areas that definitely need improvement.

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3 Cheapest Colleges by Graduation Rates

Graduation caps and roll of money representing 3 cheapest colleges by graduation rates

Graduation caps and roll of money representing 3 cheapest colleges by graduation rates

(Skip to the end to see the list of top three college by graduation rates.) When trying to identify the cheapest colleges (or most affordable or hidden bargains or whatever your preferred terminology happens to be) it’s probably a good idea to keep in mind the saying, “you get what you pay for.” Unfortunately, too often this means that people just assume the more expensive product is the better one. The same is often true of colleges especially since it’s so difficult to actually figure out what you’re paying for. If you’re able to step away from the shiny attraction of prestige and brand names, I have a suggestion: graduation rates.

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Top 3 Cheapest Colleges by Acceptance Rates

Female graduate student holding diploma representing cheapest colleges by acceptance rates

Female graduate student holding diploma representing cheapest colleges by acceptance rates(See list of cheapest colleges by acceptance rates at end of post.) Budget, affordable, bargain, best value are all different ways at getting at what are the cheapest colleges in the United States? There are multiple options you can use as the number to rank colleges to determine which is the most affordable. More on that later. And some lists will actually divide schools up by geography which can be useful. But do you know what is the most useful way to classify value colleges regardless of how you define value? Acceptance rates.

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3 Reasons Why Your Kid’s Good Grades Won’t Pay for College

apple and black board representing why good grades get academic scholarships to pay for college

apple and chalkboard representing good grades won't get you a great scholarshipMost people know that good grades will get you into college. And maybe if they’re good enough (along with an appropriate essay and the right extracurriculars and recommendations), they might get you into your dream or reach college. But while good grades may get you into your dream college, chances are they won’t pay for it with academic scholarships. This often comes as a surprise to students and their families but it really shouldn’t. There are 3 common situations where students aren’t going to qualify for enough academic scholarships to pay for college.

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The Complete Scholarship Guide: Everything You Need to Know

head of woman looking at scholarship written on a black board representing what are scholarships

head of woman looking at scholarship written on blackboard representing what are scholarships

Paying college with scholarships isn’t as simple as it sounds.

Let’s start with the definition, scholarships are simply free money for students to spend on their education. This basic definition includes scholarships awarded for pre-schools, dance classes, camps, and, of course, colleges. When you start asking what are scholarships in terms of paying for college, things don’t seem as simple any more. Now you have athletic scholarships, academic scholarships, and other various merit scholarships. And scholarships are just one kind of financial aid available for college so you probably need to have some understanding of how it differs from grants, loans, and work-study.  However, even as you wade through various definitions, essentially a scholarship is free money for students to spend on their education.

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Cutting College Costs: 273 Community Colleges with Dorms

Girl on bed in community college with dorms

girl on bed with computer in community colleges with dorms(I’ve updated the number of community colleges with dorms with data available from IPEDS in March, 2023.) As families recoil in horror contemplating the price tag of four years of college, some start to look more closely at all of the available options, including community colleges with dorms. Since community colleges are offering more traditional college amenities such as dorms, honor programs, sports, and student activities, they are becoming a more attractive way for families to seriously cut their college expenses.

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You Can’t Get Merit Scholarships From a College You Never Apply To

hand blocking bag of money representing not applying to colleges offering merit scholarships

hand rejecting bag of money representing applying to colleges without generous merit scholarships.In a previous post, I defined Expected Family Contribution (EFC), how it works theoretically, and what happens in the real world. For many families, the difference between theory and practice is irrelevant since their EFC (with changes to financial aid, soon to become the Student Aid Index) is much higher than their actual ability to pay. There are steps that you can take to reduce your EFC, and you should definitely do so if you have the opportunity. However, the fact is that you’re likely to do more to cut the cost of college by targeting the right schools for merit scholarships than by trying to rearrange your finances.

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Why Your EFC Should be how you Start Your College Search

playing pieces at start representing using efc to search for colleges

getting started game piecesWhat is EFC? To start your college search, you need to be able to answer this question. If you’re like most parents starting the college search process, you don’t have a clue what EFC means. In fact, most parents don’t understand until they are well into the college application process which is not a good thing.

So what is EFC? EFC stands for “Expected Family Contribution” and is the term used by the Federal Government and colleges to state how much parents are expected to pay for their child’s college education. (EFC is being renamed the “Student Aid Index” for the 24-25 award year but it will still function the same as EFC.)

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Colleges that Meet 100% of Financial Need Depending on How You Define Need

money with a chain and lock representing colleges that meet 100% of need

Chained money representing colleges that meet 100% of need(Updated for 2023) Probably the biggest shock families experience as they consider their college options is finding out how much they’re expected to pay for college. But I think a close second would be how few colleges are actually able to meet the family’s admittedly flawed calculated need. According to the Common Data Set and college websites only 75 colleges and universities claim to meet 100% of a student’s financial need.

If a family is able to show financial need, good luck in finding a school that will actually cover it.

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