Decision day is around the corner! May 1st is National College Decision Day, which is the deadline most colleges expect students to officially commit by submitting an enrollment deposit. With May 1st approaching rapidly, many students are taking this time to make their final selection. If you are feeling the pressure to make the “right” decision, here’s how to make a smart college choice by May 1st and feel good about it.
How to Make a Smart College Choice by May 1
Know What You Are Committing To
Committing to a school means you’re ready to invest your time, energy, and money there. You’re not just choosing a campus; you’re choosing a community, a support system, and a place to grow, learn, and live for the next four years.
Before you officially commit, make sure you’ve looked at all the factors. Finances are a major component in this decision, so make sure you consider your entire financial aid package. You should be able to answer questions like these: What’s a grant vs. a loan? Which aid is renewable? What is the total cost of attendance, not just tuition? And the most important question: what is your net cost, aka the money you are responsible for paying out of pocket?
Also consider the academic and social benefits from the school. What is the job rate after graduation in your field? Which school offers the best academic program in my field of study? What other opportunities are available? How did the campus feel? Could you be happy there? What activities or campus groups were you excited about? All of these things and more should be taken into consideration, because you want to make sure all the components feel like the right fit.
Compare Schools
As you prepare to make this decision, be sure you are comparing the numbers and these other factors of all schools in consideration.
When it comes to financial aid, not all aid packages are created equal. Some schools might offer you more scholarships or grants up front, which appears to be the better option, until you realize they have higher living costs or total cost of attendance, hidden expenses, or fewer scholarships that renew after your first year. I highly suggest making a quick spreadsheet if you haven’t already, or use an online comparison tool. This will help you keep information organized and easily compare schools on your list.
Notify Other Schools
Once you commit to your choice school, take a moment to decline the other offers. It’s good manners, helps free up spots for other students, and avoids unnecessary emails and reminders. It’s the polite thing to do and most schools require a response either way.
Changing Circumstances
Saying “yes” and putting down a deposit doesn’t mean you can’t change your mind. Life happens and circumstances can change. Transferring later is possible if necessary, but try to commit based on what you know about your school choices, finances, and how you feel now. That said, those deposits are usually non-refundable, so make sure you’re fairly confident before you submit.
Now, Celebrate!
Whether you’re headed to a state school, a liberal arts college, a community college, or something else entirely, take a second to breathe and pat yourself on the back. This journey has been a long one, and you made it through. Congratulations!
More about Jodi and College Financial Aid Advisors
Jodi is a FAFSA financial advisor who helps with the financial aid process to help families of college students maximize their financial aid. From completing the FAFSA and completing the CSS Profile to reviewing the SAR, responding to requests for verification, comparing financial aid offers and understanding student loan options, Jodi is a fantastic resource when it comes to student financial aid. Schedule a 15 Minute Power Chat to learn more about finding ways to pay for college.