One third of colleges do not offer athletic scholarships. At institutions that do offer scholarships, most sports are equivalency sports meaning that athletes are likely to receive only partial scholarships. This means that the availability of non-athletic financial aid is an important consideration for most college athletes.
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 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.
The NCAA has a public service announcement stating that most of their athletes go pro in something other than sports. They actually provide a table with the probability of competing beyond high school and the percentage who actually make it to the professional level. Given this information, any sensible athlete should pay serious attention to the student part of “student-athletes.”
One thing prospective student-athletes should take a look at is the graduation rate for the schools they’re interested in and compare the graduation rate for their sport. It’s not hard to do.
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.
Hopefully, the previous post demonstrated that the chances of getting a scholarship to play college baseball aren’t very good. Sometimes I think parents talk about the baseball scholarship as a way to justify the amount of time and money their family is spending on baseball. Claiming that it’s all to pay for college is an easy and obvious excuse.