Let’s face it. College applications aren’t much fun. They’re time-consuming, braindraining, and more than a little mystifying. Not to mention the stakes are pretty high. So it’s not hard to understand why a student may want to fill out applications to only a few schools.
But here’s the problem: The only time you get to see which schools offer you the best combination of academic quality, scholarship money, financial aid and loans – is AFTER you find out that you’ve been accepted. And by then, if it turns out that the schools where you were accepted didn’t offer as much financial aid as you expected, it’s usually too late to apply to other schools.
The solution: Do the same thing smart investors do to increase their potential for success. Take a diversified approach. This means:
Apply to these types of colleges
College Money Matters suggests that any college-bound student should apply to at least the following:
- Your dream school
- Several colleges that are a good fit both academically and financially. State colleges are good options here.
- An academic safety school – one that is very likely to accept you. (These are sometimes referred to as “less selective schools.”)
- At least one financial safety school – one you and your family know you can afford.
- One community college – The cost benefit of a two-year community college is that some of the credits you gain there could transfer to a 4-year school, reducing your overall cost of college. Visit this page for more details.
It’s also good to consider the benefits of being “a big fish in a small pond.” In other words, look for schools where your positive qualities could differentiate you from other likely applicants to that school – such as special talents, heritage, community service, higher grades, etc. Sometimes, a school may be likely to offer financial assistance to students that offer unique characteristics that expand the profile of their student body.
RELATED TOPICS:
10 Things to know before you apply to college
Applying to college: where do I start
Helpful sites for applying to college