Tuesday, March 7, 2017

The New Reality of College Admissions

The downward trend in college acceptance rates at the most selective universities may not be a revelation or newsworthy, but it does beg the question: how much lower can admission rates realistically go? Getting into many highly selective colleges has indeed entered a new stage; admission to these lofty institutions is now more random than predictable. What was achievable for students even five years ago is essentially like playing the roulette wheel for applicants today.   

The class of 2020 saw the lowest acceptance rates in history at the most selective colleges and there are no signs of this trend reversing soon. The most recent admission data show that 12 colleges, including six non-Ivies, had acceptance rates under 10%.  Another 24 schools accepted fewer than 20% of the students who applied.  Putting these numbers into context and paraphrasing the words of one Ivy League admissions officer, the average high achieving student in the applicant pool faces discouraging odds for admission. According to this admission officer, the typical applicant has high test scores and is taking AP calculus, and usually the more rigorous BC course, has at least three years of language and will complete the science triad of biology, chemistry and physics, with at least one and probably more at the AP level. Possessing these things makes a student average in that university’s and presumably its peers’ applicant pools; even with such impressive academic accomplishments, the majority of these candidates will not be accepted. To be competitive a student must have something truly special in order to stand out. In the realm of college admissions today that can take many forms: national recognition for science research, an exceptional talent, adding diversity that is highly sought and under-represented or something less tangible like an insatiable curiosity that manifests itself in unique and compelling ways (vague…I know).  And even possessing those factors offers no guarantee. Being smart and gifted is no longer an admission ticket to the most selective colleges.

My reason for sharing this sobering news is not to instill panic. Rather, I hope it will help parents and students reorient their expectations, acknowledge the new reality of college admissions and re-evaluate their notion of value. Adjusting our thinking can actually be liberating. If we know the deck is stacked against us, recalibrating expectations might even reduce the anxiety that accompanies the long wait for potentially disappointing news. The reality of college admissions hopefully motivates us to redefine success so that it is no longer measured by acceptance rates that are akin to winning at the blackjack table.  The truth is that the selectivity of a college is not a reliable measure of quality; it says nothing about what happens over the next four years. Getting in should not be the endgame; at best it puts one on the launch pad. What a student is able to accomplish, wherever he or she enrolls, will have far more bearing on future success than the institution’s name embossed on the diploma.

If you don’t believe me, look at the undergraduate colleges and universities of the entering class at Harvard Business School. You’re probably surprised to see so many colleges you’ve never heard of or perhaps some you might have assumed were of lesser quality.  Apparently HBS did not think so.  I also highly recommend Frank Bruni's best-selling book, Where You Go is Not Who You’ll Be. It’s not hype that students who excel, wherever they go, will have equally if not more promising futures than those who do not distinguish themselves at a more selective college. 

So if increasingly more students are turned away from the most selective colleges each year, where do they end up going?  The shifting landscape of college admission means that many institutions further down the selectivity chain have become more competitive too.  That school you once assumed was a safety may no longer be.  Take a look at it with fresh eyes and an open mind, and see it for what it is: an opportunity awaiting rather than a consolation prize. It has most likely raised its own bar, as those students who formerly saw it as a back-up college are now prominently represented among the student population. 

Acknowledging and accepting the new reality of college admissions will hopefully shift the focus so that the process feels less like buying a lottery ticket and becomes more about finding a great fit.  I’m not suggesting it’s easy to alter expectations, but I will guarantee that doing so will reduce anxiety and make the process less stressful, perhaps even fun. Once we can truly embrace the notion that success in life is not determined by the college name on the diploma, it’s easier to celebrate our children’s success should they end up at a college which accepts more than 20% of its students. Who knows. That student who finds the fit and stands out at the less selective college may be headed to Harvard Business School.

Thursday, September 8, 2016

New FAFSA, New Timing

New FAFSA, New Timing

Imagine shopping for a new car and having no clue until the moment you pull out your credit card or sign the lease agreement what the vehicle will cost. College list prices, like those for cars, are readily available on websites, but what a family will actually pay is often a mystery until only a few weeks before a student must make a decision.  The lack of transparency in the cost of attendance has been a common gripe among families of college going students. This year the federal government decided on a simple though limited fix: move the availability date for filling out the Free Application for Federal Student Aid, or FAFSA, from January 1st to October 1st of the prior year.  Submission of the FAFSA is required in order to be eligible for all federal aid, and many colleges also use it as the primary determinant for allocation of their institutional need-based aid. The change goes into effect on October 1, 2016, just a few weeks from now. The actual impact on colleges and families is still not fully clear, but the change in timing should make filing the FAFSA easier and less of a scramble.

What eases the burden of completing the FAFSA is the move to prior prior year income reporting.  No longer will parents be pressed to estimate adjusted gross income in January for the calendar year just ended, often weeks before receiving W-2s and other necessary statements for filing taxes. Families of students applying for financial aid for fall 2017 will be asked to report their 2015, or prior prior year income instead. Most filers can take advantage of the IRS Data Retrieval Tool and, by merely clicking the Link to IRS button on the FAFSA, populate the required fields with their income data.  The timing of asset reporting will not change, meaning that parents and students will still report balances as of the date the FAFSA is submitted.  

The change in FAFSA timing accelerates some, but not all aspects of the college process. Applying for financial aid is now done concurrently with applications to colleges rather than two or three months later.  Families will benefit by no longer having to estimate income and update the FAFSA at a later date.  The earlier date also encourages students and their parents to address financial need and expectations earlier in the process.

Yet the question remains: will the advent of prior prior year income and the early FAFSA availability actually accelerate financial aid decisions to truly assist a family’s college planning? It’s too soon to tell.  Many colleges are moving up their deadlines for submitting financial aid forms to coincide with the FAFSA and CSS Profile’s October 1 availability date (the CSS Profile is an additional form required by roughly 400 primarily private colleges).  But are families really likely to know their financial aid packages sooner? Not unless admission decisions are accelerated as well.  Financial aid awards generally accompany or follow notification of acceptance. Clearly more will have to change than merely making it easier for families to complete and submit the FAFSA earlier. Under the current system, it’s unlikely that the timing of financial aid notification will change materially. 

Nevertheless, families would be wise to take advantage of the earlier filing date and get the forms submitted as soon as possible.  Checking financial aid requirements on each college’s website is necessary in order to confirm and meet the anticipated earlier deadlines.  It will probably take a few more tweaks to the process before families will be able to truly gauge the cost of college well in advance of making a final decision.

Saturday, August 8, 2015

Grit: Discovering Our Mental Toughness

While ascending the never-ending sequence of climbs in the foothills of the Blue Ridge Mountains last month, I wasn’t thinking about grit. I was purely determined to pedal my way to the crest of each hill and be that much closer to my destination: the next college on our itinerary. Cycling with six college guidance counselor colleagues in Virginia, I spent the week traveling from school to school on a bike fully loaded with the clothes and supplies I would need for the week. We college-bound road warriors biked 360 miles in six days, but one day in particular truly tested our stamina as we cycled 81 miles and climbed nearly 7,000 feet.  I will not lie. When we arrived at our Lynchburg College destination just before sunset, I was done, sure I would not have been able to complete one more rotation of my pedals if my life depended on it. In retrospect, I see that grit got me there. It allowed me to keep going, even when I was exhausted, parched and had no idea what ascents might lie ahead.
Merriam-Webster defines grit as mental toughness and courage, but I also like the Wikipedia definition: perseverance and passion for long-term goals.  Time horizon matters, as grit demands the drive to follow through even when the rewards are not easily within our sight or grasp.
As we begin another application season, I often ask students about their motivation. I want to know the things that excite them, their aspirations and goals, and how they hope to achieve them.  Where does college fit into these plans? Though I firmly believe that 17 year olds need not have everything figured out, I am curious about what inspires them to persevere, even when the path isn’t clear or the challenges seem insurmountable.  How and when are they mentally tough because they are driven by something that requires focus and effort, even when rewards don’t come easy, contrary to the short-term pleasure of immediate gratification?
While some people are naturally driven, I don’t believe one is necessarily born with grit. It develops over time as we find a purpose or an interest that engages us to persevere over the long-term.  Some kids find their passion early, whether it is discovering an artistic talent, a natural athletic ability or an academic curiosity.  But having an interest is only the start.  What keeps us going, drives us to delve more deeply and fuels our desire to set and work towards a challenging goal is an understanding for how grit feeds our soul. Rarely does this happen when the goal is within our grasp and comes too easily.  More often we develop grit and find our motivation when we take a risk, push ourselves, occasionally fall short but regain our mental and physical toughness to overcome the inevitable obstacles.  Only then can we see the true rewards from the toughness, courage and perseverance that got us there.  
Though I have enjoyed cycling on and off since the age of six, my infatuation with biking was kindled through a discovery of my love for colleges. It had been 30 years since I last owned a road bike, but I was determined to reacquaint myself with the sport and get myself into cycling shape to join and keep up with a group of counselor cyclists who found a way to combine these seemingly unrelated interests.  What I discovered on that hot July day somewhere around mile 70 when I was thirsty, weary and battling possible defeat at the sight of each new hill is that it wasn’t just about getting to the next college; it was about getting to the top of the mountain without giving up.