Welcome to the Circus - Calculating Tuition Costs for 2024-2025

Congratulations if you have received your acceptance letter for your dream school! Now, let the fun begin...calculating tuition costs for 2024-2025 will be a patience exercise.

The Department of Education finally released the updated FAFSA at the end of 2023. After significant delays and challenges, families are struggling to complete the form which serves as a significant factor for most schools when offering financial aid packages. The FAFSA collects family financial information and assigns a code based on the new Student Aid Index (replaces the Expected Family Contribution). Every college will be different in applying the new equation to determine needs-based aid...one thing is for certain, there is an error that may cause additional headaches.

It appears the Department of Education did not adequately account for the increase in inflation that hit everyone in 2023. Due to this oversight, some students may not qualify for enough financial aid to cover the costs of their education. Read more here. Perhaps in a foreshadowing of events related to an enrollment decline and the delayed FAFSA release, many top schools have frozen their tuition in the last year or more. Schools like Purdue, University of Illinois and others have maintained the same tuition costs in an effort to encourage applicants, acceptance and even completion rates.

It's still going to be a circus for many families trying to assess the best school for their hard earned money...and one that is also the best fit for incoming freshman. In recent weeks, I have heard from several families trying to sort out the offered aid, scholarship options and tuition based on everything that is currently in flux. There are a couple sources that may help. First, check out the Tuition Tracker website. While schools that have frozen tuition in the last few years may be a challenge for 2024-2025, a baseline cost related to family income is still possible - and VALUABLE. If you are comparing two or more schools, I recommend the website to give you a feel for what previous students have received in aid packages. Additionally the data can be dowloaded and statistical analysis software can be used for advanced investigations...we won't have robust data until next year for this class though!

Another resource is the College Inflations Calculator. Depending on your schools and if tuition has been frozen or not, you can predict what a four-year degree may cost and how your aid package helps or in some cases, may hurt if not renewable. This calculator may help with predicting your 2024-2025 costs...I said "may" because the SAI code is still an intervening variable that may skew your results. Again, welcome to the circus!

My recommendation to families investigating schools and their is a financial aid/need factor, be sure to get everything in writing from the financial aid office. It may take some extra time given the FAFSA delays to schools, but well worth the wait. After all, colleges and universities are dependent on student enrollment...it's in their best interest to provide accurate information or risk losing students.

Questions? Feel free to reach out and discuss. I am happy to provide resources to help you navigate these crazy times.

Summer Camps at Vincennes University

Vincennes University offers academic and athletic camps for summer 2024. The Surveying Camp is truly unique and provides students a first hand look at what surveyors do from project beginning to completion. This camp is worth 1 college credit toward a Surveying Technology degree at VU and may be transferable to other schools. The camp runs May 29-31, 2024 at the Red Skelton Performing Arts Center on the VU campus. Registration has not opened yet, so be sure to bookmark the page! This will be a limited enrollment opportunity.

Students should focus on Durable Skills

What used to be called "soft skills" are now a "durable skill set" and something no college student should graduate without acquiring. What is a durable skill set? These are the skills or attributes that will help you be successful in any career you pursue. In all reality, these are the skills we should all strive to attain...

According to America Succeeds, some of the most impactful skills include: collaboration, leadership, critical thinking and creativity. This is not all of them, but definitely having these will set you apart from others who cannot demonstrate their mastery of such skills. One I would like to push is having a "growth mindset," or in my words, always seek to learn something.

How do you know if your college or program is preparing you adequately? First, take a look at the course objectives and desired outcomes. If any durable skill is listed, it should be connected to an assessment in the course. These assessments can be referenced in interviews or in some cases, detailed on a resume. Resumes often provide employers with a snapshot of a candidate's training and credentials - tailor yours to the job announcement (more on this in a future post).

Next, prepare a 10 minute presentation about the company you are applying to and how your background fits the needs of the vacancy. This is great practice for selling yourself and also gives you an idea of where any holes are - what skills do you need to improve or even acquire? Use PowerPoint or any other popular presentation method to demonstrate your capabilities - focusing on fit. According to Forbes, 44% of HR professionals hire an applicant with strong durable skills over an applicant with superior hard or technical skills.

Finally, keep track of the work you do in your college courses or your career program. Maintain a tracker of deliverables and the impact. What qualities do they reflect? Highlight these in cover letters or resumes. Most importantly, when requesting a reference, suggest your recommender uses specific examples to demonstrate your skills fit the job you are seeking. A good reference with strong durable skills will help you in this competitive market.