The Wealth Elevator

Tips for Getting Your Kids Ready for College

Hello, dear readers! Today, we’re delving into the world of college preparation, particularly focusing on getting your kids ready for their higher education journey. With the landscape of college admissions constantly evolving, it’s essential to stay updated on the latest tips and tricks to ensure your child’s success. From standardized tests like the SAT and ACT to crafting compelling essays and applications, we’ve got you covered.

Let’s kick things off by exploring some key strategies and insights shared by Dr. Cooney Beasley, an expert in college preparation with over 40 years of experience. Dr. Beasley’s journey into college consulting began with his own experience navigating the complex world of higher education, eventually leading him to assist countless students in achieving their academic goals.

Standardized Tests: The SAT and ACT While the landscape of standardized testing has shifted in recent times, with many colleges adopting test-optional policies due to the COVID-19 pandemic, standardized tests still play a significant role in the admissions process. Dr. Beasley emphasizes that while test-optional policies mean you’re not required to submit scores, a strong performance can still give applicants an edge, particularly when it comes to securing scholarships.

Understanding what constitutes a good SAT or ACT score can vary depending on the college you’re targeting. For example, some institutions like the University of Alabama offer generous scholarships based on test scores, while others may prioritize other criteria. Dr. Beasley advises families to research the average test scores of their target colleges and aim to exceed those benchmarks.

Navigating College Admissions and Scholarships: When it comes to gaining admission to competitive colleges, it’s crucial to consider a holistic approach that goes beyond test scores. Factors such as GPA, extracurricular activities, and essays all play a role in the admissions decision. Dr. Beasley emphasizes the importance of crafting compelling essays that capture the attention of admissions officers, highlighting unique experiences and achievements.

Additionally, understanding the financial aspect of college admissions is essential. Dr. Beasley points out that while some colleges offer generous scholarships, others may require a more strategic approach to reduce out-of-pocket costs. By targeting schools that provide substantial financial aid packages and leveraging resources like ROTC scholarships or congressional recommendations, families can maximize their chances of securing scholarships and grants.

Crafting Compelling Essays and Applications: One of the most critical components of the college application process is the essay. Dr. Beasley stresses that a well-crafted essay can make a significant difference in the admissions decision, often serving as a deciding factor in competitive situations. He advises students to start their essays with a captivating “punchline” that grabs the reader’s attention and sets the tone for the rest of the piece.

Whether recounting personal experiences, demonstrating resilience in the face of challenges, or showcasing leadership skills, the essay should offer a glimpse into the applicant’s character and aspirations. Dr. Beasley emphasizes the importance of authenticity and encourages students to highlight their unique qualities and perspectives.

Choosing the Right Path: Independent Courses, Group Coaching, or Private Coaching When it comes to college preparation, families have various options to consider, from independent courses to group coaching and private coaching. Dr. Beasley explains that while independent courses offer flexibility and affordability, group coaching provides a more personalized approach with guidance from experienced professionals.

For students aiming for highly competitive colleges or seeking individualized support, private coaching may be the ideal choice. Dr. Beasley notes that the cost of coaching services can vary depending on the level of support and the timing of enrollment. Starting early, ideally in freshman year, can help families maximize their investment and set their children on the path to success.

Understanding the Importance of Preparation: Dr. Beasley emphasizes the importance of starting early in the college preparation process. He highlights that early preparation not only helps in positioning the student effectively but also ensures they have all the necessary components to stand out from the crowd. This includes test scores, volunteer hours, leadership positions, awards, and relevant summer experiences.

He also stresses the significance of legitimate summer experiences over pay-for-play programs. Dr. Beasley acknowledges that while private coaching may not be scalable, group coaching can offer valuable peer connections and support.

Tailored Coaching Approach: Dr. Beasley discusses his coaching approach, which encompasses a combination of individual and group coaching tailored to the student’s needs. He works with a diverse range of clients, from pro athletes to upper-middle-class families, helping them navigate the college application process effectively.

His coaching services focus on maximizing the return on investment for families, considering factors such as scholarship opportunities and the overall value proposition of different colleges. Dr. Beasley emphasizes the importance of vetting coaching providers to ensure they deliver tangible results.

Underrated Colleges and Overrated Institutions: In a lightning-round discussion, Dr. Beasley shares insights into underrated colleges, highlighting Midwestern State University in Texas, Worcester Polytechnic Institute in Massachusetts, and the United States Merchant Marine Academy as hidden gems worth considering. He also identifies overrated institutions such as Berkeley, Columbia, and Vanderbilt, cautioning against blindly equating cost with quality.

Navigating Financial Aid: FAFSA vs. CSS: Dr. Beasley provides valuable insights into navigating the financial aid process, comparing the Free Application for Federal Student Aid (FAFSA) with the College Scholarship Service (CSS). He emphasizes that while FAFSA considers federal and state aid, CSS focuses on institutional aid, often delving into factors like home equity and non-custodial parental contributions.

Additionally, Dr. Beasley cautions against relying solely on home equity to fund college expenses, emphasizing the importance of exploring alternative financing options and considering long-term financial implications.

The Value of College and Alternative Paths: While Dr. Beasley acknowledges the value of college for many students, he also encourages exploring alternative paths, such as trade schools, military service, or entrepreneurial endeavors. He stresses the importance of aligning educational choices with individual goals and aspirations, emphasizing that success can be achieved through diverse pathways.

In Conclusion: Preparing for college can be a daunting task, but with the right strategies and support, students can navigate the admissions process with confidence. From mastering standardized tests to crafting compelling essays and applications, Dr. Beasley’s insights offer valuable guidance for families embarking on this journey.

Whether you’re aiming for a top-tier university or exploring scholarship opportunities, remember to start early, stay informed, and leverage available resources to maximize your chances of success. With dedication and strategic planning, your child can embark on a fulfilling academic journey and unlock a world of opportunities in higher education.

begin your journey to financial freedom!

 

My name is Lane Kawaoka, and I hope my blog/podcast will help families realize the powerful wealth-building effects of real estate so they can spend their time on more important, instead of working long hours and worrying about their financial troubles. There are a lot of successful families with good jobs (teachers / engineers / programmers / finance) yet they struggle to make ends meet financially. It is their kiddos who ultimately get the short end of the stick. Being a Latch-Key Child growing up, both my parents had to work and I was left home alone after school to fiddle with my thumbs.

With Real Estate you are able to grow your wealth exponentially faster than the conventional 401K’s and stock investing, therefore you are able to escape the dogma of working 50+ hour weeks at a job that is unfulfilling. And if you are one of the lucky ones who happen to do what you enjoy… well good for you 😛

Money is not everything but it is important because it gives you the freedom to live life on your terms.

Annoyed by the bogus real estate education programs out there (that take money from people who don’t have it in the first place), I set out to make this free website to help other hard-working professionals, the shrinking middle-class. I hope to dispel the Wall-Street dogma of traditional wealth-building, and offer an alternative to “garbage” investments in the 401K/mutual funds that only make the insiders rich. We help the hard-working middle-class build real asset portfolios, by providing free investing educationpodcasts, and networking, plus access to investment opportunities not offered to the general public.

The true meaning of wealth is having the freedom to do what you want, when you want, and with whom you want.
Building cash flow via real estate is the simple part. The difficult part occurs after you are free financially to find your calling and fulfillment.
But that’s a great problem to have ;)”

excerpt from The One Thing That Changed Everything