College Bound Students Affected by Economic Downturn

Springfield, PA – High school seniors are faced with the daunting challenge of selecting a college.  The current economic downturn is altering their college choice decisions.  In many cities unemployment is over 5 percent and some parents cannot afford the colleges that students are selecting as their first choice.  Colleges are affected too.  Students are comparing their financial aid packages and going where the money leads them.  Some college admission experts say that this may not be the best way to make a college choice.

Students are submitting multiple applications using websites like commonapp.com.  They want to know that they have options.  It is not unusual for parents to take their students on an east coast college tour.  The students and parents will visit five or six colleges to determine the one that is the best fit for their particular interest and financial circumstance.  This can be an expensive venture if the colleges require airplane flights that are far distances.  Some parents and students are making a decision to stay close to home.  They can reduce the cost of travel and some of the living expenses that are increased when a student is studying at a college that is away from home.

Some of the students are put on a wait list by prominent colleges.  This is not a reason for alarm.  Due to the economic downturn students who are on the wait list are receiving new acceptance letters.  Some colleges are not getting the number of applications that they expected.  This has forced colleges to scramble to make their numbers.  College admission offices may call students to make them a financial aid package that they cannot refuse. Some financial aid offices are able to offer a better financial aid package because more money is available due to students who have not accepted their offer.

Making the right college choice is a frustrating experience for many college students.  They listen to their friends to find out where they are sending their college application.  Unfortunately their family’s financial circumstance may not allow them to have many college choices. Students do not know that college selection should be an independent decision.  Colleges don’t always give students enough information in a student’s early high school years.  Students and parents need more admission and financial information in these changing economic times.

It appears that colleges are becoming more aware that students a valuable asset.   The economic downturn is a real issue that families must confront.  If not navigating the financial obligation of a four year college education could result in financial pit falls.  For some parents it may mean sending their student to a community college for two years.  Many of the four year colleges have articulation agreements with community colleges.  The reduced cost will give them time to recover from their employment circumstances.  In spite of the challenges these students are facing college attendance is still the right choice.  It is the one life experience that will increase a student earning potential for decades.