PARENTS RELY ON COLLEGES FOR INFORMATION on the costs of education-with basic questions needing answers most, according to results of the 2007 Survey of Parents of College-Bound Freshmen, released by Sallie Mae in January 2008. Of the 400 parents surveyed in September 2007, more than one-third saw the college financial aid office as the best source of information on costs.
When asked what they sought most from this office, "an honest assessment of total costs over four years of college" came out on top, with a 39 percent response. And 32 percent sought "basic information about federal loans, private loans, and payment plans." "This points to the need for increased dissemination of the most basic kinds of info," says Sallie Mae spokesperson Beth Guerard.
In communications with families, administrators cannot assume that an understanding of the importance of college translates to being prepared financially. While 82 percent of respondents said a college education is worth the cost, fewer than half said college is affordable. Fewer than one-quarter of families began initial discussions about college payment before or while their child was in elementary school.
Some colleges have acted on the perception of unaffordability with online college cost calculators. Southwestern University (Texas) has a homepage link to its "affordability calculator," which families can use to see that a private institution, specifically Southwestern, can be affordable. From December 2006 to January 2007, the calculator page was viewed 9,579 times, officials report.
About one in 10 parents surveyed for Sallie Mae said they have not filed and don't intend to file the Free Application for Federal Student Aid.
Encouraging families to file it can be done in a multitude of ways, as Abilene Christian University (Texas) officials know. Admissions office marketing campaigns, presentations, and promotional brochures, as well as the merit-based award letter to students, remind families of the need to file. And a financial aid step-by-step website highlights the importance of doing so, says Hayley Webb, director of Admissions. In addition, Abilene Christian staff conduct admissions and financial aid seminars both on campus and on the road, encouraging families to start the college planning process earlier.
With only one-third of Sallie Mae survey respondents wishing they had begun saving for college earlier, Guerard says, "it appears families would benefit from increased and earlier education about saving for college." -Melissa Ezarik
Call for Nominations: Dorms of Distinction
THE AUGUST ISSUE OF UNIVERSITY BUSINESS WILL CONTAIN A FEATURE HIGHLIGHTING student residence halls designed to meet the needs of today's student. These Dorms of Distinction will be chosen for their ability to:
make students feel at home;
foster a sense of community through interior and/or exterior spaces;
help keep students and their belongings safe; and
incorporate "green" elements in an aesthetically pleasing way.
Nominations will be accepted through May 1 for on-campus and off-campus student residences and for two- and four-year colleges and universities. To request more information, please send an e-mail to dorms@universitybusiness.com.
Between the Lines
Crucibles of Leadership: How to Learn from Experience to Become a Great Leader
By Robert J. Thomas, Harvard Business School Press; 2008; 256; p.p.; $29.95
WHAT MAKES A GREAT LEADER? HOW IS it that two leaders, similarly positioned for success, can have two very different outcomes when confronted by a "crucible event"? The answer, says Robert Thomas, is based on the understanding that practice and performance are the same thing.
There are numerous classes and seminars that teach leadership skills, but completing a course does not a leader make. What ultimately matters is how one applies the lessons learned (performance) to a crisis, while simultaneously being aware of the things from their learning (practice) that need to be revised in light of their new experience.
