College

Parent Q and A

Individuals with a bachelors degree earn an average of $15,000 A YEAR MORE than those with an associates degree and $22,000 A YEAR MORE than those with only a high school diploma.

Over a lifetime, that’s between $1,000,000.00 and $3,000,000.00 MORE with a college degree than without one!!!!

Over half a MILLION $$$ more with a bachelors degree than with an associates degree.

Chicago community colleges have some of the lowest graduation rates in all of the nation.

The AVERAGE graduation rate for a community college in Chicago is about 10%!!!! That means 90% of the students who attend there will not earn their degree!

Wouldn’t you love to be able to give your child

$500,00

$1,000,000

$2,000,000

$3,000,000 ?????

By making sure they earn a bachelors degree (not just enroll in college)

Discuss with your child the schools he/she has been accepted to.

Ask your child if they know the graduation rates for each school and how much they will need to pay “out of pocket” (after all financial aid) to attend.

Consider what will give your child the greatest chance at earning a bachelors degree and encourage them to pursue that option, even if it a challenge.

Set your expectations high and make sure your child knows them. Your child may be an adult, but you will always be their parent and they look to you for guidance (even if they pretend they don’t).

U of I (Urbana/ Champagne)- 83% DePaul University- 63% Illinois State University- 70% Western Illinois University- 59% Eastern Illinois University- 58% UIC (Univ. Of Ill Chicago)- 54% Northern Illinois University- 50% SIU Carbondale- 44% SIU Edwardsville – 46% Concordia- 48% Indiana State university- 41% Northeastern- 20%

Schools outside of the Chicago area tend to have higher graduation rates than those in/ near Chicago.

Let’s Compare!

◦ Univ of Illinois Urbana - 83% (2 hrs away)

◦ DePaul University- 63% (Chicago)

Illinois State University- 69% (2 ½ hrs away)

Eastern Illinois University- 58% (3 hrs away)

Western Illinois University- 59% (4 hrs away)

UIC (Univ. Of Ill Chicago)- 54% (Chicago)

Northern Illinois University- 50% (45 min)

SIU Carbondale- 44% (6hrs away)

SIU Edwardsville – 46% (4hrs away)

Concordia- 48% (1 hr away)

Indiana State university- 41% (5hrs away)

Northeastern- 20% (Chicago)

When you study in the city you have many more distractions to contend with.◦ Old friends NOT going to college. (Everyone else

moved away!)◦ Work obligations.◦ Family obligations.◦ Lack of private study space/ time.◦ An entire city to enjoy and explore as an adult.

By living in a “college town”, where everyone and all activities are college focused, college will be literally all around your child.

They will be eating, sleeping and living college, without the distractions of the outside world.

It is important to know that college is an investment in your child’s future, but it is not only for the rich.

Even if you can’t help financially, your child CAN go to a 4yr college, and you can help support them in other important ways.

Even if your child receives NO federal aid, because they are undocumented, there are affordable choices in Chicago.

Grants: Free moneyMost students will receive between $5,000 and $12,000 a year in federal/state grants. These grants are called Pel, Map and FSEOG. These are based on your financial need.

Scholarships:Most schools (private and public) offer some type of free money based on financial need and merit.

Student Loans:Student loans are an investment in your child’s career, but they are only worth it IF YOUR CHILD GRADUATES! This is why parent support is so important.

Yes!!! But more importantly they are an investment in your child’s career.

Much like buying a home or starting a business, a student loan allows your child the opportunity to gain something much more valuable than what they invested.

The key is, only take out what you need and select a school where you will have the BEST chance of completing the degree.

For some students this may mean taking out a little bit more in a loan to go to a school with a higher graduation rate.

If you buy a new car you will probably spend somewhere between $20,000 and $35,000.

That car will never make you money, or increase your salary.

It will cost you monthly in car payments, gas, insurance and maintenance.

These monthly expenses could easily cost you $500 a month and yet people buy cars without hesitation.

Why do we think spending money on a car is ok, but spending money on college is not?

If there was a magic piggy bank that would turn $22,000 into a $1,000,000 would you use it??

+ =

Absolutely!

But there is an opportunity to turn a small investment into a lifelong increase in income, by earning your bachelors degree.

It makes sense to try and save money where possible, but it is important that we choose the school that will best support your child’s success.

What sounds like a good idea may not always be.

Three factors to consider:◦ Graduation Rate

◦ Cost

◦ Reputation

Every student is unique and these categories may not be equal for every family. You and your child must decide which factors are matter most to you.

Graduation rate: How much is it worth to go to a school with a better chance of success?

Cost: There is a point where a school is no longer worth what it costs.

Reputation: The school your child will graduate from will be on their resume’ for the rest of their life. This will distinguish them from their competition and either help them or hold them back.

Let’s compare

U of I (Urbana) UIC (Chicago) Graduation Rate 83% 54% Prestige Very Prestigious Great School Loans $5,500 $5,500 Out of pocket $2,000 $0

In this situation, the student must decide if $2,000 per year is worth the future career opportunities that might come from attending such a prestigious and well-known school; even if it meant moving away and working over the summer to earn the $2,000.

Ms. Clark is here to help you! Please feel free to talk to me individually about your child’s options.

You can always come in and see Ms. Clark Monday-Friday before school, after school and during fourth period.

May 1st is the official college decision deadline.

Why May 1st? -It is important to allow enough time for your child to complete the necessary paperwork to properly enroll in college and handle all financial aid issues.

Also, there are several ways we celebrate the transition from high school to college and we want everyone to be able to participate.

Most importantly, we want your child to know they have a path to college before they leave. This is important to their self-esteem and their commitment to their education.

With your support and guidance, in four years your child will be earning their COLLEGE degree!

Congratulations!