03 Jul

Poor Economy Affects College Admissions Process

Until now most students considered their May 1st college decisions final. Unless they were wait-listed (and remember, accepting a wait-list offer could mean paying more for college), most students simply sent in their acceptance and initial deposit and started sporting their new school’s logo on their car and wearing their school’s colors at summer barbeques.

But the effects of this year’s tight economy seem to have trickled down into the college arena, where the Boston Globe says students are being indecisive about their final college choices.

Paying More to Pay Less?

With hearts and pocketbooks aflutter with worries over the economy, students are trying to keep their options open.

Some who are worried about the price of their dream school have even opted to send deposits to multiple colleges-a practice that is highly frowned upon. When the students finally choose which school they will attend at the end of the summer, the deposit left at the school not chosen will be forfeited.

Eeny Meeny Miny Moe

If you’re student is still vacillating between school options at this point (with a deposit safely in place at more than one school) it is time to finally make the choice–if only to give your student closure and some peace of mind.

Most teens need a few months to adjust to the idea of attending college, preparing to move out, and getting in touch with their future roommates; so, the sooner the decision is made, the better. College prices for fall semester of the upcoming year are set, so if your family is in a tight financial situation, now is the time to buckle down and decide what you can–or can’t–afford. And remember, it’s not too late for your student to work on applying for private scholarships this summer to ease the college bill next year!

All the best,
Deborah Fox

photo: Traffic Sign 30 by sundstrom

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8 Responses to “Poor Economy Affects College Admissions Process”

  1. 1
    Pay for College Blog - Tips on reducing the cost of college Says:

    […] The economy has made this year a challenging one for some college-bound students. Never before has the college community seen so many students changing their minds about which schools to attend (some had even sent in deposits to more than one school). […]

  2. 2
    Pay for College Blog » Blog Archive » Survey Says: Students Still Don’t Have Loan Funds Says:

    […] The economy has made this year a challenging one for some college-bound students. Never before has the college community seen so many students changing their minds about which schools to attend (some had even sent in deposits to more than one school). […]

  3. 3
    Pay for College Blog » Blog Archive » High Gas Prices Mean Lower Back-to-School College Spending Says:

    […] changes aren’t just affecting big things like college choices and admissions; it turns out they’re affecting the little things, too. From dorm room bedding to new […]

  4. 4
    Pay for College Blog - Tips on reducing the cost of college Says:

    […] changes aren’t just affecting big things like college choices and admissions; it turns out they’re affecting the little things, too. From dorm room bedding to new […]

  5. 5
    Pay for College Blog » Blog Archive » Economy Changes College Application Plans Says:

    […] Now more than ever families are looking for ways to save on college costs–so much so that students are feeling pressure to change long-time college application plans and even going so far as being indecisive about their final choices. […]

  6. 6
    Pay for College Blog - Tips on reducing the cost of college Says:

    […] Now more than ever families are looking for ways to save on college costs–so much so that students are feeling pressure to change long-time college application plans and even going so far as being indecisive about their final choices. […]

  7. 7
    Pay for College Blog - Tips on reducing the cost of college Says:

    […] Just as admissions officers feared in July, students are applying to more colleges in hopes of pitting them against each other to garner higher financial aid awards-so while schools are receiving more applications, and even sometimes more deposits, those students often don’t end up matriculating! […]

  8. 8
    Pay for College Blog » Blog Archive » College & the Economy: College Admissions Officers Speak Out Says:

    […] Just as admissions officers feared in July, students are applying to more colleges in hopes of pitting them against each other to garner higher financial aid awards-so while schools are receiving more applications, and even sometimes more deposits, those students often don’t end up matriculating! […]

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