Congratulations on getting into your top three schools! It
may seem like the hard part is over, but the hardest part of all – committing
to a school – has just begun. The college admission process is filled with
daunting deadlines, and a very important one is approaching: College Decision
Day. Time may not be on your side, but don’t worry. Sit back, take a deep
breath, and continue reading. You’re only a few steps away from making a
decision.
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Step one: Self-reflect
Selecting the right college is probably one of the biggest
decisions you’ve had to make. Before any big decision, it is important to
self-reflect. Make decisions based on your own wants, needs, and goals. Ask
yourself these questions:
• What would my ideal profession be?
• What program would I need to be in to work towards that
profession?
• Do I need a bachelor’s or master’s degree?
• Where do I see myself in 10 years?
Step two: Calculate your return on investment
For most people, a college degree is the second biggest
investment they will make after a mortgage. Unfortunately, the college
selection process is dominated by lifestyle considerations, and very few people
think about college as a financial investment. Don’t let that be you.
To calculate a simple return on college investment, divide
your expected salary (return) by total college cost (investment). When
calculating your investment, remember to factor in costs for room and board,
tuition, textbooks, entertainment, school supplies, and more. Think of the
total amount of money it will take you to earn that degree. When calculating
your expected salary, make sure to compare it by school and by program. If you
get a degree in marketing from School A, will your expected salary be more or
less if you get a degree in marketing from school B? How does that compare to
the median salary for marketing?
Remember that your salary (return) will likely increase
every year, for many years. That makes a college degree a wise investment in
almost every scenario. Some degrees and schools will provide more of a return
than others.
Don’t forget, if you rely on student loans to pay for your
degree, you’ll have to pay interest on them. The more study loans you take out, the
more of an investment you’ll have to make over time due to interest.
Step three: Consider your ideal college experience If you’ve
narrowed down your list to a couple of schools you can afford, make sure to
think about the type of college experience you want to have.
Some lifestyle considerations include in your college
decision:
• Location: Will you have to move? Is it in a location you
could live for four years?
• Student population: Do you want to go to a big school or
small school?
• Student to faculty ratio: How many students are there per
faculty member?
• Type of school: Do you want to attend a traditional
university or an online school?
• Academic calendar: How is the calendar structured?
Semesters? Quarters?
• Graduation rate: How many students graduate?
• Extracurricular programs: Do you want to participate in
them?
Source: https://educationloansinindia.wordpress.com/2016/06/13/3-tips-for-making-your-final-college-decision/
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