High School Seniors Archives

Comparing Postsecondary Options (Infographic)

October 20, 2018 High School Seniors, High School Students, Parents

The postsecondary options after high school can be confusing. Here is a comparison of the most common routes for recent high school graduates.

Keep in mind that these routes are not permanent or exclusive, and choosing one route doesn’t rule out other options if a student would like to pursue an additional or different path later.

Download this infographic as a PDF.

	Workforce	Military	Short-Term Education	Apprenticeship	Public Four-Year College	Private Four-Year College
Description	Full-time employment directly after high school	· Before or instead of pursuing a college education · Military academies	· Short professional programs · Certificate programs · 9-month, one-year, two-year college programs	Up to six-year programs	Rely on government funding as well as tuition and fees from students	Rely on tuition, fees and private sources for funding
Average Cost	$100–$1,000	$0	$5,000–$20,000	$0	$47,000–$90,000	$77,000–$140,000
Potential Earnings	Starting: $18,023 Mid-career: $31,239	Starting: $19,199 Mid-career: $41,958	Starting: $24,030 Mid-career: $44,056	Starting: $20,025 Mid-career: $47,098	Starting: $20,025 Mid-career: $47,098	Starting: $20,025 Mid-career: $47,098
Required	May need related job experience or certain skills	· ASVAB test · Fitness and health standards · Background check	· Requirements vary by program · Placement tests	· Requirements vary by program · May be minimum age · May require community college acceptance	· Minimum SAT/ACT score and GPA · Core high school classes · Application (sometimes with essay, interviews and letters of recommendation)	· Minimum SAT/ACT score and GPA · Core high school classes · Application (sometimes with essay, interviews and letters of recommendation)
Typical Jobs	• Accounting clerk • Animal caretakers • Childcare • Clerical, administrative, office clerk • Customer service representatives • Driver • Food services • Maintenance and janitorial • Retail worker	• Administration • Aviation • Combat officer • Construction • Engineering • Health care • Intelligence • Mechanical and maintenance • Public affairs and media relations	• Auto mechanic • Barber • Chef • Computer tech • Cosmetologist • Court reporter • Dental assistant • Fitness trainer • Nursing or home health aide • Pharmacy tech	• Carpenter • Electrician • HVAC installation and repair • Machinist • Mason • Pipefitter • Plumber • Sheet metal worker • Tool and die worker	• Airline pilot • Architect • Computer programmer • Educator • Engineer • Financial specialist • Graphic designer • Reporter or correspondent • Writer or editor	• Airline pilot • Architect • Computer programmer • Educator • Engineer • Financial specialist • Graphic designer • Reporter or correspondent • Writer or editor

Sources:

Average Cost of Workforce includes the cost of work clothes, transportation to interviews and printing resumes.
Average Cost of Public and Private Four-Year College are based on the 2011–2012 net lowest and highest cost of attendance (after discounts on the published costs) per year multiplied by four years.
All other Average Cost information is based on figures available online for Iowa programs.
Potential Earnings for Workforce are the 15^th and 50^th percentile salaries from U.S. Census Bureau 2015 PUMS data (1 year sample) – educational attainment up to high school diploma.
Potential Earnings for Military are private (E1) and first lieutenant (O2) from https://www.goarmy.com/benefits/money/basic-pay-active-duty-soldiers.html.
Potential Earnings for Short-Term Education are the 15^th and 50^th percentile salaries from U.S. Census Bureau 2015 PUMS data (1 year sample) – educational attainment of associate degree.
Potential Earnings for Apprenticeship are the 15^th and 50^th percentile salaries from U.S. Census Bureau 2015 PUMS data (1 year sample) – educational attainment of some college.
Potential Earnings for Public and Private Four-Year College are the 15^th and 50^th percentile salaries from U.S. Census Bureau 2015 PUMS data (1 year sample) – educational attainment of bachelor’s degree.

By: Iowa Student Loan

10 Things You Need to Complete the FAFSA

September 24, 2018 High School Seniors, Parents

With the FAFSA, or Free Application for Federal Student Aid, open soon, it’s a good time to plan a little time to complete it. Before you start, make sure you have these items available if they are applicable to you.

10 Things You Need to Complete the FAFSA

Item	Dependent Students	Parents
List of schools you wish to send FAFSA results to	X
FSA ID username and password	X	X
Biographical information like Social Security number, drivers license number, birthdate, marriage and divorce dates	X	X
Alien registration number for non-citizens	X	X
2017 income tax returns, W-2s and other records of money earned in 2017	X	X
2017 bank statements and investment records	X	X
2017 untaxed income records	X	X
2017 businesses and farms records	X	X
Child support received or paid	X	X
Marriage status and date of separation or divorce	X	X

By: Iowa Student Loan

FAFSA: What You Need to Know

September 23, 2018 College Students, High School Seniors, Parents

If college is in the picture for the 2019–2020 academic year, it is almost the time to file the FAFSA, or Free Application for Federal Student Aid. Here are answers to some of the most important questions about the FAFSA.

Why should I file the FAFSA?

Regardless of financial situation, filing the FAFSA is the first step to qualifying for many forms of aid, not just those based on income. Federal Student Aid’s Myths About Financial Aid (PDF) provides more information on why all students should submit the FAFSA.

Whose information goes on the FAFSA?

The student who will attend college will provide biographical and financial information on the FAFSA. Dependent students, whether or not they are financially supported by their parents, will need to provide parent or guardian biographical and financial information.

Is the FAFSA only for federal aid?

The federal government uses the income, family size and other information provided on the FAFSA to award federal aid in the form of grants, work-study and loans. You need to file the FAFSA to qualify for federal work-study and federal student loans. In addition, many states and colleges and some private organizations use the information to determine eligibility for grants, scholarships and other aid.

When should I start?

The 2019–2020 FAFSA opens Oct. 1 and is available until June 30, 2019. Some types of aid have limited funds, so the earlier the FAFSA is completed and submitted, the better the chances of receiving more financial aid from those programs.

Remember to complete a new FAFSA the fall before each new college year.

What information will I need?

The student should create an FSA ID to make it easier to complete and access the FAFSA. You can also gather identifying information (Social Security numbers for student and parent, driver’s license number, and Alien Registration number if applicable); federal tax information or returns from 2017; records on any untaxed income; and balances for cash, savings and checking accounts, investments, and business and farm assets for both the student and parents.

Note: You may be able to use the IRS Data Retrieval Tool to pull in applicable tax information while you complete the FAFSA, but this information will not be displayed on the online FAFSA or your Student Aid Report.

If you have any questions on the information you will need to provide, start by reviewing the Completing the FAFSA guide (PDF).

Where do I start?

You can complete your FAFSA online at https://fafsa.gov.

You may also download a PDF form to print and complete or call (877) 433-7827 to request a form be mailed to you. Some colleges may allow you to file your FAFSA at their financial aid office.

Do I need to do it all at one sitting?

You may save the information entered into the FAFSA online if you need to stop before completing it. Then, when you’re ready to finish, log back in to complete the form, sign and submit it.

What will happen next?

Within three weeks after submission, you’ll receive a Student Aid Report, which summarizes the data you submitted. You should review this report carefully and follow the instructions for correcting any mistakes.

Your Student Aid Report will also tell you if you’ve been selected for verification. This is not necessarily an indication that something is wrong; verification may be based on a random selection or because one or more of the schools listed requires all FAFSAs to be verified. If you are selected, follow the instructions to verify your information with the requested documents.

Federal Student Aid also shares the information you submitted with the colleges you listed when you completed the FAFSA, your state and the states of colleges you entered. Each college you have been accepted to will follow its own timeline to send you a financial aid award packet detailing the financial aid available to you if you choose to attend that school.

More information is available from Federal Student Aid.

By: Iowa Student Loan

Addressing Financial Aid Myths

September 22, 2018 College Students, High School Seniors

Have you heard that applying for financial aid isn’t worth it because your parents earn too much or because it takes too long to complete? Don’t be tempted by these common myths to skip completing the Free Application for Federal Student Aid (FAFSA). You could be passing up free money. And that’s the last thing you want to do when it comes to paying for college.

Financial Aid Myth: You need to have your taxes filed before starting the FAFSA.

The FAFSA now requires tax information from the “prior prior” tax year, so the deadline for filing the required taxes is the April before completing the current FAFSA. If you or your parents missed that tax filing deadline and you still need to file taxes, you should estimate tax and income information for the FAFSA and correct that information by logging in and updating your FAFSA after filing the appropriate tax return. For help with questions about required income information, call (800) FED-AID.

Financial Aid Myth: You won’t receive financial aid because of how much money your parents earn.

Income is not the only determining factor when it comes to whether or not you’re eligible for federal student aid. And there is no income level that automatically disqualifies you for aid. Taking the time to complete the FAFSA is the only way to qualify for federal student aid and you won’t know if you qualify until you do that step, so completing the FAFSA every year you are in school is important.

Also, did you know that the FAFSA is used for more than just federal financial aid? State and school aid is also awarded based on your FAFSA results. If you don’t complete the FAFSA, you could also be missing out on these other sources of financial aid.

Financial Aid Myth: The FAFSA is difficult to complete.

The FAFSA has changed a lot since it was first introduced, and the application is revised often to make the process smoother. The online process uses logic to limit questions to ones that are relevant and completing it online instead of filling out a paper application lessens the chance for mistakes. According to the federal government, completing the FAFSA now takes less than 21 minutes on average. That’s not too bad if the outcome is grants, scholarships and other funds to help lower your college expenses, is it?

Financial Aid Myth: You only need to complete the FAFSA once.

If you complete the FAFSA before starting college, you may think you don’t need to file it ever again. But you should file the FAFSA every year as soon after Oct. 1 as possible if you intend to enroll in classes during the next academic year. This is especially important if your family’s circumstances change because you may be eligible for new or more aid next year. Even if there are no major changes to your family, though, other factors such as how financial need is calculated may mean you are eligible for different options next year. And, once you complete the FAFSA the first time, it will take even less time to complete the following years.

Financial Aid Myth: Your parents are not supporting you financially in college so you don’t have to include their information on the FAFSA.

Unfortunately you may still be considered a dependent student for federal student aid purposes, even if you are paying for all your college expenses yourself. You will need to answer questions in the FAFSA to determine if you are considered a dependent student or an independent student. If you are considered a dependent student, you will need to report your parents’ information on the FAFSA. If you are unsure how what type of student you are, contact your college or university’s financial aid office for assistance.

By: Iowa Student Loan

Tips to Study Smarter

September 20, 2018 College Prep, High School Seniors

You’ve probably heard how you have to study more and learn to manage your time better to keep up with college work. It’s easy to say “study smarter,” but how do you actually accomplish that? Try out some of these tips to up your studying game.

Use a daily planner and block off time each day for studying and homework

Whether you have a test or assignment due the next day or not, use that time every day to study. Sticking to the routine will help ingrain the habit of studying well ahead of deadlines.

Review your class notes daily and fill in missing details

You might want to compare notes with a friend to see what each of you picked up on for clues about what is most important or to look for differences to make sure you didn’t miss anything. Don’t wait until the night before a test to look at your notes, they might make no sense weeks after you’ve written them down.

Set goals

If you’re reading a novel for a class, figure out how many chapters you need to read per day to finish on time and aim for that goal each day. Set a goal to memorize 25 new terms a day for weekly tests. Or, plan to concentrate on one math formula so that you understand not only the “how” but the “why” and can complete the formula with several different figures.

Study for 35-45 minutes and then take a break, no more than 10 minutes

Giving your brain and yourself a short break will give you time to digest what you have just reviewed or worked on. Plus, it will help you concentrate better when get back to work.

Try studying in different places

If the weather is nice, think about doing some reading outdoors. Need to really concentrate? Head to the library. If you want to be comfortable, find a good spot in your room; just make sure there are no distractions while you review your class notes. Studying in different places can help reduce boredom.

Do more with the material

Try turning headings into questions and answering them after each section. Or write down answers to focus questions instead of just skimming the questions before reading the sections. You might connect the topic to your own experiences, such as connecting a family vacation at Yellowstone National Park to President Woodrow Wilson creating the National Park Service in 1916, and writing a few notes for yourself. By engaging other areas of your brain, you may remember the material longer than the 30 minutes it takes you to read a chapter.

After tests, compare your notes with what was included in the exam

If your notes included information about what was asked, you’re on the right track. If your notes were lacking details that were covered in a number of questions, don’t be afraid to ask for help or advice from the instructor, a teaching assistant, a tutor or even a friend who is doing well in the class.

Try different study methods to find the one that works best for you

Some students thrive on reviewing flash cards while others need to reread entire chapters of their textbooks. See which method works best for you while your workload is lighter; it will pay off when you have more work to do.

By: Iowa Student Loan

High Schoolers: Start Saving Today

August 20, 2018 High School Seniors, Money-Saving Tips

Whether you’re planning on college next year or just starting your freshman year in high school, you can take steps to save money today that will help you with college costs in the future.

Open a Savings Account

If you don’t have your own savings account, now is a great time to get one. Ask your parents for advice or visit with an account specialist at a local bank or credit union. You will need to deposit some money to open a savings account, but that amount can often be as low as $5.

Even if you don’t add to your initial deposit, as long as you haven’t taken it out, that amount will increase by the time you’re ready for college simply because of interest accrual. This is one time interest will work in your favor.

You can save more, though, if you deposit gift money you receive into your account. If you really want to give your account a boost, deposit all your gift money to earn interest on every penny. If that seems like too much, think about depositing half of any gift money you receive. That way you can still spend some, but you’ll also earn interest on a bit.

Save Your Change

If you use cash for all your spending money, saving your change can really add up over time.

Take a jar, glass bottle or even a cleaned-out laundry soap container and put any loose change you have every day into the container. Once your change gets heavy, or if you are tempted to spend it, deposit it into your savings account. You’ll probably be surprised at the amount of money you’ve accumulated in just “spare change.”

Have a Sale

Look around your room. Do you have some childhood toys collecting dust or video games you never play anymore? What about clothes you haven’t worn in more than a year hanging at the back of your closet?

If you have no need for the items and your parents are OK with it, think about having a garage sale or putting items on a website like eBay. Do some research before you sell anything to see what prices others are getting for items sold online. Then decide where to sell.

If you want to have a garage sale but don’t think you have enough to sell on your own, see if your friends would like to sell some of their stuff too. To keep track of where the money goes, use different colored price stickers to indicate whose item is being purchased. After the sale, proceeds can be easily divided up between the different color stickers.

Get a Job

The easiest way to save money is to earn money. If your grades and extracurricular activities allow, get a summer job or a part-time job during the school year. Look for places that are willing to work with your schedule and then be responsible for showing up on time. Working while going to school is a great way to learn how to balance different responsibilities.

Having a job also means earning a paycheck. This is another way to take advantage of a savings account. If you set aside some of the money you earn for your savings account on a regular basis, it will start earning interest as soon as you deposit it.

Think about setting a savings goal too. If you get paid every two weeks and are able to put away $40 each payday for two years, you can save more than $2,000 to put toward college expenses. If you don’t work during the school year, what about trying to save at least $250 a month during the summer? In two summers, your savings can increase $1,500.

However you accomplish it, any money you save now is money you won’t have to borrow (and pay back with interest) in the future.

By: Iowa Student Loan

How Much Should You Save for College?

August 13, 2018 High School Seniors, Money-Saving Tips

At the start of your senior year in high school, how you’ll pay for college may not be a high priority yet. It’s something you should be thinking about, though, as you consider different colleges and the costs associated with attending each one.

A national study, How America Pays for College 2017, shows that the average student contributes 11% to the total cost of his or her college education. That is money from the student’s income and savings, not student loans.

So, how much should you plan to save for college this year?

That answer depends on a multitude of different factors, but the easiest response is “as much as possible.”

If you want a more precise number, though, there are things you can do now to determine how much you want to save during the next 12 months.

Create a Budget

Use an in-school budget tool to start forming an idea of how much money you’ll need to live on each month. It’s OK to guess right now and try out different calculations. How much will you cover with grants, scholarship and student loans, and how much will you need to have on hand each month for your extra costs?

If you live on campus in a dorm during your freshman year at college, many of your expenses will be set and you’ll be left with a smaller number of variable categories. But if you’ll be living off campus, you will have to calculate additional costs like your portion of the monthly rent, gas and car maintenance, and how you will fill a refrigerator.

Figuring out how much you will need each month can help you set a goal for the amount you definitely want to save during your senior year.

Compare Costs

While you’re creating different in-school budget scenarios, be sure to consider the costs needed for different schools you’re considering. Less-expensive schools might seem like the way to save money, but many times those institutions also have less money to offer in terms of scholarships and grants compared to more-expensive colleges or universities.

Anticipate that you will need more spending money than you think to ensure you don’t greatly underestimate how much you will need to save.

Reduce Expenses

Is your budget a lot higher than you expected? Check out these ideas for ways to save on supplies. Will any of those options help reduce your monthly budget?

You can also consider options such as:

Living at home and attending a community college for your first year or two to meet your general education requirements.
Planning to work part-time during college to help you cover some monthly expenses.
Cutting back on entertainment or other non-necessities to reduce the amount needed for spending money each month.

It may seem like a daunting task, but the more you’re able to save for college today means less that you will have to borrow in the future.

By: Iowa Student Loan

Crossing the Line: Improve Academic Standing for Financial Aid

July 22, 2018 High School Seniors, High School Students

Good grades and test scores typically mean more scholarship opportunities. Did you also know that a small margin can sometimes push you over the line for eligibility, or even for higher awards? Here’s a look at how small improvements matter.

PSAT/NMSQT

The Preliminary SAT (PSAT) is also the National Merit Scholarship Qualifying Test (NMSQT). If you take the PSAT as a junior, you’re automatically screened for the National Merit Scholarship Program. The top scorers in each state receive special recognition.

About two-thirds receive Letters of Commendation and become eligible for special scholarships sponsored by corporations and businesses.
About one-third become Semifinalists, and most of those complete several steps to become Finalists. Finalists are eligible for:
- Merit Scholarships from the National Merit Scholarship Corporation, corporations and colleges.
- Special scholarships up to and beyond full tuition from certain colleges.

The difference between a Commended student’s score and a Semifinalist’s score could be a single point in a metric called the “Selection Index,” which is based on your PSAT scores.

How to Cross the Line

Preparation is key for the PSAT.

Take the PSAT 10 as a sophomore to become familiar with the test format and see where your strengths and weaknesses lie to better prepare yourself for the PSAT as a junior.
Use practice tests to review the test concepts and learn which answers are considered correct or incorrect and why.
Be sure to practice in timed test-taking situations.

ACT and SAT

Most colleges require you to attain a specific minimum score on either the ACT or SAT before admittance. Once you have narrowed down your college choices, review their scholarships pages. Many academic scholarships are based either entirely or partly on those test scores, and one or two more points may push you into a category for a more substantial award.

How to Cross the Line

Many of the same techniques above for the PSAT apply when taking other standardized tests like the SAT and ACT. Keep these additional pointers in mind:

While the PSAT and SAT are both offered by College Board and have many similarities, the ACT comes from another provider and the format and content areas may be quite different. Use specific practice tests for the SAT or the ACT, depending on which test you plan to take.
Check to see if the colleges you’re applying to require or recommend that you take the optional essay portion.
You may retake either the SAT or ACT to try to improve your score.
- Concentrate on preparing for the areas in which you want to improve, but continue to practice all parts of the test so your other section scores don’t fall.
- Consider your options for sharing your scores with colleges. You may want to wait to see your new score before you submit it to a college, but an additional fee could be required.
- If your score improves in some parts of the test, but you have a lower composite score because of lower scores in other sections, see whether your college will superscore, or consider your best score for each section of the test separately.

High School Grades

While you’re checking the test score requirements for scholarships, pay attention to the required high school GPA as well. Will bumping up your overall GPA a fraction of a point move you into another scholarship category and make you eligible for hundreds or thousands of additional dollars?

Increasing your GPA may also make you eligible for increased money from outside scholarship sponsors. When you search for scholarships, try a search with an additional 0.1 or 0.15 added to your actual GPA to see if you get more results. (Don’t lie on scholarship applications; improve your GPA before you apply.)

How to Cross the Line

Increasing your GPA may take some extra effort, but if it nets you additional cash for college, it’s worth the work.

Don’t wait. Take steps to improve a specific grade early in the semester or year. Later, you’ll have fewer opportunities to earn points, and a perfect final test can only offset so many earlier mistakes.
Take advantage of every extra credit opportunity.
Ask your teachers how you can improve your grade. Some may be willing to provide credit for an extra project or paper if you explain why you need the grade boost. (This is most effective if you’re an engaged student who generally completes all work on time, even if you don’t always get an A.)
Improve your study habits. See these tips for studying smarter.

By: Iowa Student Loan

Maximizing Summer Earnings for College

May 17, 2018 High School Seniors

About this time of year, panic tends to set in for new high school graduates looking at their upcoming college costs. If you’re planning to work this summer to offset some of your college expenses, consider these tips.

1. Know How Earnings Affect Your Financial Aid

Although your financial aid has already been determined for the upcoming year, your annual income can affect future aid.

The Free Application for Federal Student Aid, or FAFSA, provides an income protection allowance — the amount you can earn during a calendar year before your financial aid package is affected. For the 2015–2016 year, this amount was $6,400.

You shouldn’t necessarily try to limit your annual income to less than the income protection allowance, however. The income tax you pay on your earnings is also taken into account, and the type of aid you receive makes a difference. Offsetting student loans with income is beneficial, while earning enough to reduce need-based grants isn’t so great.

If you have questions about how your earnings will affect your future aid, talk with a financial aid officer.

2. Make a Plan for Your Earnings

The amount you need to save from each summer paycheck is determined by your goals. Are you planning to offset specific expenses, such as clothing, books or entertainment, for the school year? Are you planning to earn enough to make interest payments on student loans?

Use your goals to determine a percentage of each paycheck to put into savings. Don’t forget that you may need to use part of each paycheck to cover current expenses, such as work clothes, gas and car insurance, and that you will have taxes and other deductions removed from each check. You may also want to plan on spending a little each month on summer entertainment as well.

3. Simplify Your Saving

It’s often tempting to use cash in hand, and sometimes students find they’ve spent the money they intended to save without really thinking about it. Avoid the cash crunch by:

Depositing your pay right away. If you have the option to have your check direct-deposited into a checking account, take advantage of it. If not, or if you are paid in cash, deposit it directly after you receive it to avoid unnecessary spending.

Automating your savings. Set up an automatic transfer from your checking account to your savings account that corresponds with your pay date. For example, if you are paid by direct deposit every other Friday morning, have an amount equal to the percent of your check you want to save automatically transferred to your savings account on those Friday afternoons. Time the transfer as close to the deposit as you can without risking overdrawing your checking account.

4. Stick to Your Goals

Once school starts in the fall, remember what you worked so hard for over the summer. If you intended to use your summer earnings for books, don’t let the desire for new clothes or evenings out distract you from your goal. If you haven’t already considered it, think about a part-time job during the school year to pay for other items you want or need.

By: Iowa Student Loan

Maximize Your Graduation Money

April 25, 2018 High School Seniors

Your high school graduation is an occasion to reflect on past accomplishments and prepare for a new adventure in college. It can also be a veritable gold mine.

As college becomes increasingly expensive, many of your family and friends may opt to give you a gift of cash to help you offset your costs. While it might be tempting to use that newfound cash to upgrade your phone or gaming system, you could use that money in ways that will better help you prepare for college. Here are some ideas to make the most of monetary gifts you receive.

If you have:	You could:
$50–$100	Get a haircut. Have the oil changed in your car. Buy a few dorm or personal care items. Pick up an interview outfit. Buy paper, pens and other supplies.
$100–$500	Rent some of your required books. Pay for a campus parking permit. Buy a bike to get around campus. Pay program fees or club dues.
$500–$1,000	Get a computer or other electronics you need. Put money toward your tuition bill. Buy plane tickets to come home at the semester break. Save for a rental deposit if you plan to live off campus next year. Pay major- or activity-specific fees.
$1,000–$5,000	Save to use toward future tuition and fees. Buy textbooks and supplies for one year. Pay a summer’s rent for an off-campus house or apartment. Cover fraternity or sorority dues and other expenses. Cover insurance deductibles for a car or medical emergency.

By: Iowa Student Loan

« 1 2 3 4 … 11 »