Indrawan Info

Archive for January, 2011

Did you know that the cost of a 4 year degree program is around $20,000 dollars per year.
The cost of a college education is probably the most expensive item in bringing up children today. When you take into account tuition fees, exam fees, living expenses, accommodation, books and computers it’s not surprising that the average cost of college education is over $20,000 per year and that’s before the social side of college life.
Today we live in a world where only the best educated and most prepared can succeed. The Job market is probably the most crucial and competitive element of our society and having a college education and degree goes a long way towards succeeding in it.
When our children are ready to enter the world of work it will be even more difficult and a college education will be essential to succeed. Here are 5 ways to fund your child’s college education.
1. The usual method of parental funding of college education is out of current income, that is out of your weekly or monthly salary.
Whilst this is the most common method of funding college education it is one that only the very rich or highly paid can afford to do with ease. Even if there are 2 salaries most families find it difficult and will require sacrifices, even more so if you have more than 1 child. At best most parents can only afford to contribute part of the costs of college education out of current income. Additional sources of income will be required.
2. Your child can work his or her way through college.
Many students have to work whilst studying but many find the experience of juggling a job, lectures and a social life very difficult. Often the result is that students drop out of college education, fail their exams or don’t do as well as they could.
3. Your child may have the opportunity to take out student loans to fund their college education.
Today the vast majority of students are forced to take out student loans to fund all or part of their college education. Usually to subsidize parental contributions, student loans are the most common way of students funding their own college education. Many students however, leave college with substantial debt and even with interest rates at historically low levels today’s students can expect to have to pay substantial monthly repayments for many years.
4. Your child may obtain a scholarship or be entitled to grants from either federal or local funds towards the cost of their college education.
There are many sources of student scholarships or grants and with a bit of research most students today can find some grant funding. These sources however cannot be guaranteed for the future. Whilst scholarships and grants do not have to be repaid and as such are preferable to loans they are not guaranteed or predictable and therefore relying on them for our children is a risk.
5. Take out an education savings plan to fund college education.
An education savings plan is a regular saving plan into which you and your children can contribute. The plans are administered by colleges or state authorities and can be taken out for any child including a newborn babies. Because of the effects of long term compound interest the earlier you take out your plan the easier it will be and the lower your contributions will be. Because the funds are built up prior to going to college students do not have to rely on scholarships, grants or loans and they can concentrate on their studies.
There are a number of options to fund your child’s college education but the only way funds can be guaranteed is by you taking out an education savings plan. With the education savings plan you decide what you can invest and your child can also contribute to his or her college education. With luck scholarships and grants will still be available as will loans to top up if necessary. If your child does not go to college the fund can be cashed in.
Taking out an education savings plan early will give your child the real opportunity of a college education and the best prospects for a job when they leave college.

Admission into an Ivy League school, or equally competitive college, is a lofty goal. It requires years of dedication from both parents and students. These high-powered, historic institutions receive thousands of applications each year yet reject more than 85 percent of candidates. While there is no formula for gaining one of the coveted places, there are a number of strategies, techniques, and hints that give applicants an edge.
Students determined to get into a competitive college must begin their preparation well before their senior year of high school. For example, high powered schools look for students that have completed four years of math, science, and language courses. They expect applicants to maintain straight A’s while taking the most difficult course load their school has to offer. Students who go above and beyond academically by acing end-of-year Advanced Placement (AP) tests not only gain college credits but favor with admission boards as well.
All college-bound students are required to take the SAT I and II and submit the results to their selected schools. However, those applying to Columbia, Cornell, Harvard, Brown, University of Pennsylvania, Princeton, Dartmouth, Yale, and the like should aim for higher than 1400 on the SATs to stay competitive. There are a variety of test preparation classes and materials available in bookstores and on the Web to streamline the studying process – a process that should take place well before the end of a student’s senior year. 
Because top-flight universities strive to create an atmosphere of diversity on their campuses, they are interested in students that are academically gifted but mature, confident, and motivated as well. They review applicants’ extra-curricular pursuits, particularly those that showcase a unique ability or leadership position. These activities set applicants apart from the crowd and are not necessarily limited to school sponsored sports. Initiating a food drive, becoming class president, or getting a part-time job can go a long way in illustrating strong ethics, enthusiasm, and perseverance.  
The formal application process takes place during senior year and requires a great deal of planning and forethought. Applications must be filled out completely and define the applicant as a whole person, not just as an athlete or a star student. Remember, top-tier colleges want the most well rounded individuals. Students should provide letters of recommendation and write a personal essay that illustrates their ability to handle the strenuous pace of Ivy League life while augmenting campus variety.
If a student is really counting on their first choice school, they are encouraged to apply through early action or early decision programs. These programs require the application to be sent in months in advance and result in a much higher percentage of acceptance. Some programs stipulate that students may only apply to one school through the program and require a deposit, while others are not as binding. Research is crucial, as each school has a different policy.
Whatever you do, don’t assume that an Ivy League education is out of reach. Often, high school seniors are discouraged by the overwhelming number of students that don’t get the opportunity to walk the hallowed halls of Harvard; but, admissions committee members are quick to remind students that they stand no chance of admittance unless they try. You never know what an Ivy League school is looking for. It may just be you.