Considering College's Return on Investment

There are so many moving parts to a student’s search for the ‘right’ college – location, academic options, student services, clubs and organizations, career preparations – but none of them matters if a family is unable to afford that wonderful education. Attending college is a privilege and one that costs a great deal of money. For the most part, when we enter into a costly venture such as purchasing a new car, a house, or stock investments, the pros and cons of that purchase must be weighed heavily against the anticipated return on our investment, or ROI. How will the costs of that purchase compare to the benefits of making that purchase? In other words, how will the net cost measure up against both potential debt and potential earnings? 

Many young people graduate with thousands of dollars of debt and enter into an employment placement that typically provides an annual salary far below that level of debt. This puts new graduates into a very dangerous financial situation and impacts their ability to start their career and purchase a car. Students pursuing graduate degrees may often find themselves in debt for many years.

In order to come up with a realistic and honest assessment of the costs for each college under consideration, it is important to first calculate the true total cost of attendance – tuition, room, board, fees, transportation, entertainment and general living expenses such as cell phone bills and travelling home for the holidays. Expect that tuition will rise, as well as fees and living costs. Once you have a complete picture of the total cost, then it’s time to review the potential outcomes. Research career opportunities and the job placement support your college offers; review annual salaries in your chosen field; analyze the industry overall and be aware of any growth or cutbacks in your area of likely employment. If you have to move to another part of the country, what costs of living are associated with that location – compare across all your possible geographic locations. Finally, analyze overall growth of salaries in your field, alongside cost-of-living adjustments and inflation. Be honest with your analysis: there is no point in entering into debt for an industry that is on the decline. Consider what happened to video stores, printing, photo finishing and telephone apparatus manufacturing as a guide to declining industry. 

Knowing how much aid you will receive from a college is a critical piece of information in calculating return on investment. Submit your FAFSA as early as possible, and read about options for institutional aid – are there separate scholarship applications to complete? Know about the CSS Profile – does your college require this in order to be considered for institutional aid? Review your financial aid package very carefully. Understanding exactly the amount of financial assistance you may receive will be a big part of your calculations. As you educate yourself on your future employment possibilities, be guided by the rule that says: never borrow more than your anticipated first year’s salary. If you find yourself outside of those parameters, look into ways of reducing your costs. Would accelerating your studies save you more money? Many high school students are able to gain college credit by successfully passing AP and CLEP exams, or by taking classes at a community college while still in high school. This will reduce the time you have to spend in college to obtain your degree. Can you get a job during your college years? Would an in-state college meet your needs and keep you within your budget? Will the “name” college yield a post-graduate income higher than a similar degree from a less prestigious institution? For some people, money does not necessarily represent success, and immediate financial success may not mean as much as long-term satisfaction for graduates such as entrepreneurs and academics. 

Speak with your Journey Ahead college counselor about the potential cost of the universities you are applying to, and make sure there are some low-cost options on your list in case the aid offers are not significant enough.

At the end of the day, the benefits of a college degree far outweigh the burden of taking on some debt. The degree represents a sound investment in your professional future and financial well-being. College graduates earn over 80% more over a lifetime than a high school graduate, and employees without degrees may find themselves unable to advance in their fields and earn more money. So, is college worth it? Absolutely, 100% yes! Just do your research and learn as much as you can about your investment.

Why Taking the AP Exam is a Good Idea

During early May, high school students around the world sit for Advanced Placement (AP) exams. The College Board runs the AP program, and provides teachers with curriculum guides so that they can cover the material students will be required to know for the exams. At some schools, students enrolled in AP classes are required to take the AP exams, but it makes sense to take them, even if not required. You may do better than you think, and after working hard in an AP class all year, why miss out on the opportunity to receive college credit? 

AP exams include a free response section, which will be either problem-solving or essay writing, as well as a multiple choice section. The only exception is the Studio Art exam, which consists of a portfolio review.

Raw scores on the exams are converted to a scaled score of one to five. Each college sets its own policy for granting credit, but most will award credit for scores of four or five. Some schools grant credit for a score of three. The score required for credit can vary by subject as well as by college. Some of the most selective schools have more restrictive policies for awarding AP credit. 

Some college applications, including the Common Application, ask you to self-report scores, though they are not officially part of the admission process and may be used only for placement. You need to send official scores only the summer before you will be enrolling, so that the registrar can evaluate the scores for credit at that school.  AP scores may be considered in the admission process at some test-optional colleges. Students applying to the UK may be required to submit AP scores for direct entry.

If you have earned an AP Scholar award, it is certainly worth noting in your application. Being designated a National AP Scholar is most impressive, as it requires an average score of at least four on all AP exams taken, and scores of four or higher on eight or more exams.

Students who have taken a full load of AP courses in high school often start college with at least a semester’s worth of credits. Some students even enter college with sophomore standing. They may decide to graduate early, saving tens of thousands of dollars in tuition. Even if they plan to spend four years in college, by placing out of introductory courses they have the flexibility to double-major or take a lighter class schedule while doing an internship.  

Majoring in Nursing

Nursing is hot! According to the Bureau of Labor Statistics, about 194,500 nursing positions will be created each year over the next decade. Finding a job will not be an issue for Registered Nurses anytime soon.

The duties of a Registered Nurse include treatment of patients, education of both patients and the public about medical conditions, and providing advice and support to the families of patients. Some RNs specialize in the type of care they provide.  

There are three major paths to a career as a registered nurse:  a bachelor’s degree from a four-year university (BSN); an associate’s degree (AA) from a community college; and a diploma from an approved nursing program.  Of these paths, the bachelor’s degree provides graduates with the largest number of career possibilities as well as the option to earn an advanced degree leading to employment as a nurse practitioner.   

AA programs are offered by junior and community colleges and take between two and three years to complete.  Colleges and universities that offer the BSN prepare their graduates for licensing in about four years.  Many RNs will earn their AA degree and begin their nursing career before returning to school to earn a Bachelor’s degree in nursing. All three paths allow graduates to take the national licensing exam, known as the NCLEX-RN.  Once licensed, a nurse is eligible for employment as an entry level staff nurse.

RN to BSN programs allow practicing nurses to earn their bachelor’s degrees, thus making them eligible for higher level nursing positions.  A bachelor’s degree would be necessary for administrative and teaching positions, as well as for advanced practice positions such as nurse anesthetist, nurse practitioner, nurse midwife, and clinical nurse specialist.  The advanced nursing practice specialties also require additional study leading to a master’s degree.

Nursing education programs include classroom instruction in such areas as anatomy, physiology, chemistry, nutrition, psychology, microbiology and nursing.  Supervised clinical experience is provided in hospital settings and generally involves rotations in pediatrics, surgery, psychiatry and maternity.  Shortage of clinical placements along with a lack of qualified nursing instructors has severely limited the number of students who can earn nursing degrees, thus fueling the ongoing scarcity of nurses.  Nursing programs have found themselves becoming more and more competitive, with high grades in high school or in the first two years of college becoming a requirement.  Experience in a health care setting may also be considered in the application process.  

A recent report from the Georgetown Center on Education & the Workforce found that 37% of qualified applicants were not accepted by BSN programs and that 51% of qualified AA students failed to gain acceptance because of a lack of available spaces. Accomplished high school students who want a BSN degree might want to explore direct-entry nursing programs.  Rather than taking a general college curriculum for the first two years, students begin their pre-nursing classes immediately and generally begin clinical rotations by their second year of college.  Other colleges offer their pre-nursing students a guaranteed spot in their nursing school as long as the pre-nursing prerequisites have been completed at a satisfactory level. To become a competitive nursing applicant at any 4-year university, choose the most rigorous high school program you can handle, and do well in it. You’ll also to demonstrate why you wish to become a nurse, and experience you’ve had taking care of people.

Mastering the "Why Us" Supplemental Essays

This essay is as important as the long Personal Statement essay. Admission officers at many colleges believe the response to this question tells them how much effort a student has put into getting to know the college and whether she is a serious applicant who is likely to matriculate. A student who has researched a college and knows it’s the right place for her is also less likely to transfer or drop out, and that means a higher retention rate for the school.

Some students use this essay as an opportunity to demonstrate “fake” interest in a college, but they usually end up with a generic answer that won’t enhance their application. For students who are genuinely interested in a college, the process of answering this question helps them assess whether the college is a good fit and enables them to write a meaningful response. 

When responding to the “why our college” prompt, resist the temptation to tell admission officers what they already know. They are aware that their college has a reputation for educational excellence. They know the low student-teacher ratio and the great internship opportunities. Your response should not sound as if  it was lifted from a school’s website. 

You need to use this essay to show that you and this college are a perfect match, and flattery is not the best way to do that. Instead, think about your interests, strengths and goals, and look for how they mesh with those of the college. If one institution’s mission statement talks about the importance of the life of the mind and another stresses its commitment to preparing students for the job market, you get a sense of the different approach each college has to education. You may realize that one institution is a much better fit for you.

Taking the time to review course offerings in the catalogue, and reading about professors, research opportunities, and student organizations will help you make sure you are applying to colleges that are truly good matches. Instead of trying too hard to win over admission officers, you will be able to make a compelling case for admission, in a matter-of-fact way that is ultimately much more effective. 

Merit Awards Can Make Private Colleges Affordable

A majority of private colleges, in an effort to attract top students, award substantial scholarships or grants based on merit. 

Merit scholarships are especially helpful in attracting students whose families don’t qualify for need-based financial aid but are unable or unwilling to pay more than $50,000 a year for college.

At highly selective colleges that offer merit scholarships, students need to have outstanding academic records. They may be required to write additional scholarship essays and may need to interview on campus. Some scholarships also consider leadership and community service.

Other colleges offer guaranteed scholarships, so if you have met a specified grade point average and test score, you will get a scholarship. National Merit Scholarship finalists are guaranteed scholarships at some schools. If you have reasonably good grades and test scores, and are willing to consider colleges that are not as well-known, you are likely to end up with some scholarship offers. Scholarships are generally renewable for three additional years, as long as you maintain the required grade point average. 

Students who can afford to attend a private college without taking on huge debt may find that the educational experience is much more personal and engaging, and well worth the extra cost. You are more likely to find a student-centered environment, more meaningful interactions with professors and more access to support services at a smaller private college than at a large public institution.

At private colleges, most students successfully complete their degree requirements in four years.  So don’t let the sticker price of private colleges keep you from applying; merit scholarships may make them more affordable than you think.

The Role of Holistic Admissions in College Evaluation

Colleges that practice holistic admissions consider factors beyond grades and test scores when making admission decisions. For most colleges, grades earned and courses selected make up the bulk of the admission criteria; selective colleges want to see evidence of high grades in a challenging curriculum. With the majority of US colleges now offering test optional admission (at least for the current year), additional factors take on new importance in holistic admissions. So, what else counts?

Holistic admissions looks closely at the ways in which the applicant chooses to spend their time.  Evidence of depth of commitment and growth over time in a few extracurricular activities makes the applicant a more competitive candidate.  Impact on others, through leadership activities and community service, also plays a significant role.  These qualities are seen in the applicant’s activity list, resume, essays and recommendations.

Holistic admissions also looks at the institution’s priorities in a given year. The college may need more students able to pay the whole bill, more students from under-represented areas of the country, or more students interested in majoring in the classics or languages.  Sometimes, the institutional priorities include more legacy candidates, a flautist for the orchestra, a catcher for the baseball team, or a journalist for the newspaper.  Institutional priorities vary from college to college, and change from year to year.

Holistic admissions may also take demonstrated interest (DI) into account.  For colleges that do consider DI, have you connected with their admission officers, opened (and perhaps responded) to their emails, visited either virtually or in-person, connected with admission officers when they have visited your area (or on-line), and accepted offers of interviews with either staff or alumni?

While you can’t affect many of these factors and institutional priorities, you can still make yourself a competitive candidate for admission by maximizing those you can control including involvement in activities, your academic profile, and demonstrating interest in each college on your list.

Back to In-classroom Learning

After over a year of online learning, most US students will be returning to the classroom this fall. Along with the excitement of seeing friends and resuming activities, many are feeling anxiety about the re-opening and return.  What do you need to do to maximize your high school experience?

· Get involved.  Join a club or activity that interests you and participate fully.  It doesn’t much matter which one.   Just follow your passions in finding a club that suits you or get together with a friend or two and start your own group.  Extracurricular activities are what make high school fun and give you a place to belong.

· Challenge yourself.  It might be tempting to take the easier route with grade-level classes, but try that AP or honors class and move beyond your comfort zone.  Don’t fear the teacher whom everyone says is really demanding—the best teachers are those who will encourage you to think outside the box and to stretch your mind.

· Ask for help.  There’s no glory in doing it all yourself; ask for help when you need it. Online learning has probably created more learning gaps than usual, and more students will need help. Meet with your English teacher after school for help with an essay or ask your math teacher to explain a difficult concept.  In this way you’ll establish relationships with your teachers outside of the classroom and perhaps find yourself with a true mentor. Hopefully, you’ll really get to know the individual who will write your college recommendation.

· Try not to focus on being with the “popular” kids.  High school students tend to form cliques of like-minded individuals.  Make your friends based on shared interests and values and welcome opportunities to get to know new friends throughout high school.

· Take care of yourself.  That means eating well, getting an adequate amount of sleep and exercise, and finding ways to manage the stress that comes with being a high school student, especially during COVID-19.  Learn to manage your time well so you don’t get caught with last-minute assignments.  Set aside time each day to work on each subject, even getting ahead in reading or other assignments when you can.  Make sure you build in time for fun and relaxation.  Go for a run, play with your dog, read a novel, chat with a friend—anything to break up long hours of study.

· Do good—volunteer.  Helping others will make you feel good about yourself.  Look for volunteer activities that you generally care about, not those you think will look good on your resume.  

· Don’t sweat the small stuff.  You’ll encounter a lot of petty ideas and petty people during your high school years, but you don’t need to get caught up in focusing on things that really will not matter.  Spend your time and effort on those things that are important to you.

· Keep your grades in perspective.  Of course, you’ll want to do the best you can in each of your classes, but don’t let a few disappointing grades convince you that you’ll never get into college.  There are wonderful colleges out there for students who’ve shown a range of achievement; there’s a place for every student who truly wants an education.

· Have fun!

Majoring in Applied Math

In an annual CareerCast.com survey of the best and worst occupations in the U.S., mathematicians often land in the top few spots.  With an average annual income of about $95,000, enviable working conditions, and considerable autonomy, math majors don’t only rank high, but math-related careers occupy over a third of the top 20 careers. If math has been one of your favorite classes in high school and you love to solve problems, especially those with only one “right” answer, you might want to consider a major in math.  Don’t see yourself as a mathematician?  Look instead to a study of applied mathematics.

Applied mathematics is the study of the mathematical methods and modeling that are typically used in professions as varied as science, engineering, business, and industry.  In this branch of mathematics, mathematicians work on practical problems rather than developing math theory.  Although applied math majors spend much of their time studying pure math, they do so with an eye to using the skills they develop to prepare for a particular career or purpose.  As an applied math major, you’ll take courses such as calculus, differential equations, linear algebra and discrete mathematics, but you’ll combine these studies with your career interests.  For example, you might apply mathematical principles to problems studied in physics, computer science, statistics, systems design, engineering, probability theory, or computer programming.

What kinds of career paths are open to students who major in applied mathematics?  Although many professions use math in their daily work, there are a host of careers for which a strong background in mathematics is a necessary prerequisite for success.  According to the Society for Industrial and Applied Mathematics (SIAM), mathematicians and computational scientists may work in a variety of vastly different career areas.

A bachelor’s degree in applied math will prepare you for jobs in statistics, actuarial sciences, mathematical modeling, cryptography, and math education.  You’ll apply your knowledge of mathematical principles to solve real-world problems.  For example, mathematical modeling is used to make predictions based on statistical evidence.  This can be applied in physiology to determine what will occur as blood pressure increases, in medicine to track outbreaks of epidemics, or in engineering to determine how quickly heat can be dissipated.  Financial institutions such as banks, investment companies and hedge funds use mathematical modeling to explain and predict the behavior of financial markets. 

Actuarial science takes math and statistics and applies these subjects to the finance and insurance industries.  Actuaries rank among the top few careers in the U.S. for both job satisfaction and salaries.

Cryptography deals with the practice of hiding information.  Once used to aid spies during wartime, cryptographers might now focus on protecting the security of credit cards and ATM machines.

Computer animation and digital imaging combine diverse fields of study such as math, computer science, fine art, traditional animation, physics and biomechanics.  This knowledge can be applied to a variety of areas such as medical diagnostics, entertainment, and fine art.

Climatology uses simulations to understand the forces that control our climate.  These simulations utilize data from satellites, ocean buoys and other monitoring equipment, and create mathematical models to predict future events.

You’ll find more careers for applied math majors at SIAM’s website at www.siam.org.

 Careers for Applied Math Majors

ï Analyst

ï Actuary

ï Business analyst

ï Computer systems engineer

ï Cryptographer

ï Data analyst

ï Data engineer

ï Data scientist

ï Engineer

ï Finance analyst

ï Financial advisor

ï Management analyst

ï Market research analyst

ï Math teacher

ï Mathematical modeler

ï Meteorologist

ï Pricing analyst

ï Programmer

ï Risk analyst

ï Statistician

ï Trader