The College Planning Blog

Well it has finally happened. The unsustainable Texas Top 10% rule has finally been changed. With top state universities like the University of Texas now forced to automatically accept 86% of their incoming class under the Top 10% rule it was time for a change.

Having helped literally hundereds of students I think that this is a huge step forward. Why? Because it just might cause many high school students to actually research what colleges will be the best fit for them. Far too many top students apply to only one or two colleges as a result of the Top 10% rule.

Why do SO many students do so little work researching their best choices for college? Simply put because they are guranteed admission.

So the new rule will guarantee that starting with the class of 2011, the top 8% of high school graduates will automatically be admitted to the University of Texas. This change is expected to limit the number of students automatically admitted to approximately 75%. I wouldn’t call this a perfect change, but a necessary change.

What should a family do? Get busy researching what your student wants to study, what schools offer what they want, and what schools will they have a chance to get into?

A great option for sophomores and juniors is to come to one of our upcoming college planning workshops. Click here.

Do you have a senior student that needs guidance with their college applications? We’ll they have about a month to complete their applications. For the first time we are offering our “College Application Bootcamp” to the public. For more information click here: 

Here’s what your student will learn by attending this AWESOME workshop:

-5 secrets to completing each university application perfectly - in 50 minutes or less!

-The ’secret’ formula schools use to grade your college applications - revealed! And how to improve your chances of getting in - even at the last minute;

-10 steps to planning your perfect career;

-SAT & ACT myths dispelled, as well as how to improve your score by at least 100 points without studying;  Also, how to take the SAT & ACT for ‘free’.

-How to decide which school is right for you. We’ll give you our 7 step evaluation process that works every time. We’ve never had a student that used it drop out or decide to switch colleges;

-The top 9 admissions resume tips that your guidance counselor doesn’t have the time to tell you;

-Essay writing tips from Ernest Hemingway, Larry the Cable Guy, and Harvard Admissions Officers;

-How to get a killer letter of recommendation, and have the teacher thank you for asking them to write it;

According to the today’s USA Today, college students
are racking up credit card debt to pay for
their education.

30% charge their tuition compared to 24% in 2004.
92% of undergrads charged textbooks, school
supplies and other educational expenses compared
to 85% in 2004.

Marie O’Malley, director of consumer research
for Sallie Mae, thinks families are underestimating
college costs and opting for more expensive
credit card debt in lieu of applying for cheaper
financial aid.

“Too many students are at risk of overpaying for
college by pulling out credit cards…instead of using
less-expensive financial aid…” said O’Malley.

Wow!  Does this sound familiar?

Brannon and I have been warning about this,
like a broken record, for years.

Why don’t parents apply for financial aid?  Put another
way, why do 53% of all eligible families not bother
to apply?

One reason is intimidation. You “need a PhD” to
figure out the FAFSA, according to Secretary of
Education Arne Duncan. The forms are annoying
and a pain the in the rump, with multiple land-mines
to stumble on and blow up all chances of aid.

Another reason is that parents put off their college
planning until it’s too late. The best time to start
the college planning process is the second half
of sophomore year, junior year at the latest.

What are the consequences to your children if
you don’t take this seriously?

One graduate who maxed out his credit cards
to pay for college fretted, “I wonder if I’ll ever be
able to get a home…with the debt I have now and
the marks against my credit.”

We’re running Four free college funding workshops
this month.  Response to my emails and our
ads has caused attendance to spike.

Register today at:

CLICK HERE TO REGISTER

Seating is limited.

Hope to see you at a workshop this month!

Jeremy

P.S.  Some of the topics to be covered include:

* How even millionaires can save 20% off the
cost of college;

* Think you make too much money to qualify
for financial aid?  You’re probably wrong, dead
wrong!

* Can you legally “position” yourself to receive more
financial aid?

P.P.S.  Please forward this to a friend who could use help.

Pictured from the left: Jeff Farmer, Jeremy Farmer, and Brannon Lloyd

Hey Guys,

Join us for our incredible new college planning radio show every Sunday at 5PM on 1070AM. You can also listen live on their website: www.KNTH.com.

College insiders to start new radio show, give parents priceless advice to help them save thousands.While they’ve saved thousands of families too much money to count, local college planning experts say that’s not going nearly far enough. After speaking in front of tens of thousands of parents over the last five years local college planning experts will begin broadcasting their message using 10,000 watts of power since, as Jeff Farmer says, “One man can only shout so loudly, we need to get the word out that people can save more on college.”"We have the perfect storm brewing right now, skyrocketing gas prices, a tanking stock market, and an economy in a recession. However, for millions of families the need to send a student to college is not going away. It’s shocking that so many parents won’t even be able to afford for their kids to go to school in the next few years, so many good students won’t be able to go, and many students will have to drop out, unless they know the inside information that the colleges don’t want given out,” says Jeremy Farmer. He then adds, “It’s not even a matter of affording the best school….it’s being able to have ANY money left at all these days. Brannon Lloyd was astonished when he first started talking to parents and realized how much bad information was floating around-some of it in the media, “It’s amazing how many parents are desperate for this kind of information. I really don’t know what to say, except that I’m totally blown away.”

The College Planning Power Hour will be broadcast Live on KNTH AM 1070 Sundays from 5-6pm beginning August 17th, 2008.

Well it actually nice when you see what you’ve known to be true ‘discovered’ in the media.

Your Credit Matters and Being Smart Can (and will) Cost you

If you are considering using loans to finance your childs’ college education, you better check your own credit first because if your credit has any little ‘irregularities’ the loans you will be living with for the next 10-15 years will haunt you the whole time. What? You say you’ve never had a late payment in your life? Even if you fall into that category you better pull your credit report because other peoples’ financial mismanagement may be hurting you and as I learned recently it can take MONTHS to get it straightened out. You can go to annualcreditreport.com and get copies of your credit report for free once a year (in most states) and make sure you’re not being punished for a late you never had or someone else’s foreclosure.

Which leads me to my SECOND point.

The New York Times has an interesting article that tells how shopping for a new home loan or even a BMW will not hurt your credit score-actually it does a little but all credit pulls in a short period count as ONE. However if you shop around for the best rate on student loans, and it’s not always the ones the school offers you, you get penalized for each and every time a loan provider runs your credit!

Now if you have stellar credit, why do you care? Well each pull lowers your score and if anything erronous is there AND with creditors tightening up standards by raising the credit scores needed to get the best rates you might not even qualify, or not get the best rates.

The article can be found here.

I’m extremely ticked off so I’ll be quick like a bunny with this email.

I see why so many parents never even bother to apply for financial aid! They’re being told that they make too much money by the so-called experts - this is why I call ‘em “schmexperts”!

Check out this clip. Some well-intentioned “friend” of mine sent me a video from Kiplingers about college financial aid.

This woman, Janet Bodnar, does a decent job explaining why you may want to save in your name, not your child’s, but then she lets lose a colossal, “gi-normous” 100% false statement: If you make a lot of money, like more than a hundred grand, you probably wont’ qualify for aid!

Sweet mother of all things holy! How dumb is she?

This video appeared in an article on MSN.com. The article talks about how Harvard and Yale are giving away money for parents making up to 180K and 200K, respectively!!!

Hello?

This is what Jeff, Brannon, and I are talking about when we tell you, don’t listen to the “schmexperts,” listen to US. Our advice is frequently 180 degrees opposite to your typical trusted advisors, CPAs, guidance counselors, BRACE Advisors, and now, Kiplingers!

Our advice: EVERYONE should apply for financial aid! Case in point - you can go to Harvard (a $50,000 per year school,) for $18,000!

OK, I’m done with my rant.

I’ve gotta calm down. I’m doing a workshop tonight on scholarships for student-athletes.
It would be better if I’m not foaming at the mouth.

Later.

- Jeremy

According to this article at the Seattle Business Journal WaMu is shutting down or reducing customers lines’ of credit. Bad news if you were planning to use a HELOC to pay college expenses.

WaMu reduces home equity credit to homeowners

This is not completely unexpected, but for many may be unwelcome.

Where do we start this week? How about this headline?

What is surprising about it? I’m just surprised that this is the first example of someone robbing a bank to pay for college.

It is tragic that these young men will now be spending the next 20 years of their life in prison.

This is a fair warning. If you have a student that is currently a junior, and you have yet to come in for an appointment, you have just a couple of weeks to get in for an initial consultation. Remember that APPLICATIONS will begin this September. Call 281 822 6200 immediately for an appointment. Otherwise, you will never know how we could have helped you with your situation.

So, on with the story… (more…)

Warning: Students, What You Post On Facebook Could Haunt You!

It happened again. In January, 2008, almost 100 students (!!!!) from one high school in Minnesota were suspended or kicked off of sports teams for photos that were posted on online websites like MySpace and Facebook that showed them drinking and partying. So, if you’ve been working hard to get into college– have busted your rear getting good grades, studied late at night for the SAT, polished and perfected your essay, and prepared for campus interviews—you’re not done just yet. Let’s talk about how NOT to let a stupid photo or two ruin your chances of getting in….or worse.

Now, if you haven’t already come in to talk to us about your own personal situation, what are you waiting for? Pick up the phone right now and give Deniz a call at 281 822 6200 for a personal appointment. We have been able to help hundreds of families’ fight the high cost of college, get into great schools, and helped students find the right career.

First, let’s talk about the dilemma: currently, it’s reported that up to 85 % of the students at any given school or college post to at least one of the major social websites, whether it’s MySpace, Facebook, Xanga, LiveJournal, or Friendster. And while some students believe that what they post there should be private, or should be to allow them to ‘express themselves’ and it shouldn’t matter to anyone else, the reality is that what you post online is public, and in some cases, permanent. And it does matter.

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