SATs = College Money!

With SAT season approaching for Juniors, one of the areas where you should step-up your efforts is in your preparation for standardized tests!

If you are targeting financial aid, your standardized test score becomes CRITICAL because it is relied on much more in determining financial aid versus admission.  Yes, they count in admissions decisions, but the admissions folks will look at "the whole package" to make an admissions decision.  

Financial aid, on the other hand, relies on your stats much more.  The better the stats, the better the offer tends to be!  Your GPA and your SAT or ACT score are the keys to the financial aid vaults.

If you don't study and/or take a prep course in between test dates in an effort to get the best scores possible, then you are running the risk of NOT getting admitted to colleges on your list.  Even if you are admitted, higher SAT or ACT scores can get you MORE money to help you pay the bill!

Standardized test scores are used heavily in the financial aid packaging process.  50 SAT points or 3 ACT points might mean the difference between $3000 in scholarship money and $6,000 in scholarship money.  

That is why it's worth spending money preparing for the tests.   

For example, let's say you invest $400 on a standardized test prep course and increase your scores on the SAT by 100 points (or the ACT by 2 or 3).  As a result you get $1000 more in scholarship money freshman year from a school, you are now ahead $600!

BUT wait, there's more. If that money is renewable for four years, that $400 has actually gotten you $3600 more in financial aid!  Are you with me?

If spending $400 now gets you $3600 more in scholarship, does it now make more sense to you why you should invest the time and money?

The choice is yours.  Save $400 now and SPEND hundreds or THOUSANDS more later.  

OR

Invest some money now and potentially SAVE a BUCKET of money later

Bottom line if a higher score makes you eligible for more money, than it is worth the time and money investment.

Your Assignment:

Seniors:  Check with the financial aid offices of the schools to which you're applying and ask what is the last test date they will accept scores from for financial aid purposes.  Some schools may accept SAT scores from the January 2010 exam when it comes to financial aid purposes.  It may well be worth your time and effort to take the test again if improved scores get you MORE MONEY to help pay the bill!

Juniors: Start preparing for SAT and/or ACT tests next Spring.

Study 2-3 hours per week!