Got a pile of financial aid awards from various schools cluttering your inbox? Are the paper versions of all those financial aid awards stacked up in your home office? I’m sure you can’t wait to toss them into the recycling bin! (Except for maybe one from a very special school — the one your kiddo’s leaning toward… Yay!)
Your college-bound kiddo may not have quite decided where he’s going to school. That’s okay!
As you take a look at these financial aid awards, you know instantly that they’re not the same. I’m not talking about the types of scholarships or the work-study awards on each one, I’m talking about the layout of each award and what’s disclosed on each. Some colleges even employ a little bit of deception and as a result, may make the school look like it’s cheaper than it actually is.
This can get super confusing, and I encountered this problem a lot as an admission counselor. Parent to me over the phone: “Financial aid awards aren’t the same! Why???” To be honest, I wish there was one standard financial aid award that every college in the country would use.
They’re not standardized, so the best I can do is tell you what to watch out for!
1: Schools Often Don’t Separate Aid that Needs to Be Repaid from Aid that Doesn’t
Many, many financial aid awards don’t separate gift aid from work-study or loans. In other words, you may see various types of aid — scholarships, grants, work-study and loans — all lumped together. Can you see why that can be problematic?
Here’s an example. Note: The amounts, scholarships and grants I’ve listed below are part of a completely fictional aid award and for demonstration purposes only:
XYZ Merit-Based Scholarship: $15,000
XYZ Grants: $5,000
Federal Direct Subsidized Loan: $3,500
Federal Direct Unsubsidized Loan: $2,000
Federal Work-Study Program: $3,000
Private/Alternative Loan: $8,000
Total: $36,500
Grants and scholarships don’t have to be paid back, work-study money must be earned and loans must be repaid with interest. Even when schools put forth a confusing, mixed-up aid award jumble, some colleges and universities don’t do a great job distinguishing between what you need to pay back and what you don’t — like in the example above.
It’s your job to make sure you understand every line of the aid award and explain it to your high schooler.
Here’s the list again, broken down into categories, so your high schooler can understand it more clearly:
Does not need to be repaid:
XYZ Merit-Based Scholarship: $15,000
XYZ Grants: $5,000
Must be repaid with interest:
Federal Direct Subsidized Loan: $3,500
Federal Direct Unsubsidized Loan: $2,000
Private/Alternative Loan: $8,000
Must be earned:
Federal Work-Study Program: $3,000
Total: $36,500
I like that layout much better — it’s much easier for a 17- or 18-year-old to understand.
2. Some Financial Aid Awards Do Not Include the Total Cost
So, this sounds like no big deal, right? You can just look up the total cost of the institution online. Sometimes when you’re comparing financial aid awards, this can get lost in translation, particularly when a college only lists scholarship amounts and it looks like your child will get more money from that college compared to another. I remember one conversation I had with a mom over the phone when I worked in admission that went exactly like this:
Me: “Hi, Mrs. Jones! Have you and your son, Charlie, had a chance to review our generous financial aid award offer?”
Mrs. Jones: “Hi, Melissa! Yes, we have, but Competitor College XYZ is giving him $5,000 more in scholarships and other aid. That’s $20,000 over four years!”
Me: “Oh, really? Mrs. Jones, did you realize that Competitor College XYZ is $5,000 more expensive than our college?”
Mrs. Jones: “Oh, I guess that’s not on the aid award. Yes, yes, I’m online now and see that.”
Me: “I know our college is Charlie’s first choice. Would you be willing to pay the $200 deposit today?”
Mrs. Jones: “Yes!”
Hand to heart, that’s exactly how the conversation went. The financial aid awards that don’t include the total cost right on the award may require you to do a little digging. Make sure you know the full cost — tuition, room, board and fees.
3: Some Financial Aid Awards Include Loans Beyond Federal Student Loans
Let’s bring back my example “aid award.”
XYZ Merit-Based Scholarship: $15,000
XYZ Grants: $5,000
Federal Direct Subsidized Loan: $3,500
Federal Direct Unsubsidized Loan: $2,000
Federal Work-Study Program: $3,000
Private/Alternative Loan: $8,000
Total: $36,500
Direct Subsidized Loans and Direct Subsidized Loans Included
Look carefully at the loans I’ve included — particularly the last line. Many schools include loans on their financial aid awards — usually Direct Subsidized and Unsubsidized federal student loans. Quick details:
Direct Subsidized loans are available to needy undergraduate students. Each college determines the amount your child will receive. The U.S. Department of Education pays the interest on Direct Subsidized loans while your child is in school at least half-time, for the first six months after he leaves school and when your child defers (postpones) loan payments.
Direct Unsubsidized loans are available to undergraduate and graduate students but it’s not based on demonstrated financial need. Each school determines the amount you can borrow based on that school’s cost of attendance and other financial aid you receive. Interest accrues on Direct Unsubsidized loans while your child is in school.
PLUS Loans and Private Loans Might Be Part of the Mix…
Here’s the kicker: Some financial aid awards also include Parent PLUS loans (also called the Federal Direct PLUS loan (Direct PLUS Loan) through the William D. Ford Federal Direct Loan (Direct Loan) Program). Parent PLUS loans are federal loans that parents of dependent undergraduate students can use to help pay for college or career school. The U.S. Department of Education is the lender and the current interest rate is 7.08 percent.
The government doesn’t lend private student loans. Instead, you can get private student loans through a lender such as a bank, credit union, state agency or more. Interest rates are sometimes higher than for federal student loans. (A survey of SunTrust, Ascent, SoFi, CommonBond, Discover and Sallie Mae showed fixed rates ranging from 4.29% to 12.49%, while variable rates were offered from 1.80% to 14.18%, according to Debt.org.)
When financial aid awards include alternative or private loans, it may even look like you owe next to nothing, and that’s why I’m not a fan. It takes a little bit of the critical thinking out of the equation when the college “fills in the blanks.” I’d rather see the out-of-pocket costs at the bottom so you get creative on how you handle these costs — through a side hustle, your kiddo’s summer job, etc.
Don’t assume everything’s covered — show your kiddo how to understand the difference between loan types.
4: Work-Study May Be Part of the Award Letter
Some schools add work-study as part of the award calculation. I’m really not a fan of this tactic because it looks like work-study’s guaranteed, but nothing could be further from the truth. Your child must earn work-study money.
Your kiddo has to go through the trouble of visiting the human resources office at the college, choosing and applying for a job and possibly interviewing. Finally, your child must show up for that job. Not foolproof, is it? (Particularly because your kiddo may realize college is a lot of work and decides he’ll need to spend more time studying rather than working. Or he might decide he’ll earn more money working for a local landscaping company or as a server at a restaurant and will forgo the work-study job altogether.)
Furthermore, most schools pay students via direct deposit. The school won’t apply these funds directly to your child’s tuition bill. Your child may need work-study money for groceries or toiletries instead. Work-study is truly meant to be spending money — which is why I never like to see it lumped together with everything else.
The bottom line: Be wary if financial aid is included in the major calculation like it was in my example from above:
XYZ Merit-Based Scholarship: $15,000
XYZ Grants: $5,000
Federal Direct Subsidized Loan: $3,500
Federal Direct Unsubsidized Loan: $2,000
Federal Work-Study Program: $3,000
Private/Alternative Loan: $8,000
Total: $36,500
It’s terribly misleading.
5. Fees Aren’t Disclosed
Do you see the full costs listed on the financial aid award? Are you sure? Many colleges and universities list only the direct costs on financial aid awards — tuition, fees, room and board (if the student lives on campus).
Look carefully at a school’s costs page online or call your child’s No. 1 choice right now to be absolutely sure that you’re considering all costs. Some colleges may require fees like these:
Lab fees (if you’re child is going to major in the sciences)
Orientation fees
Campus fees
Athletic fees
Health and wellness fees
Tech fees
Transportation fees
Other fees
Get absolutely clear about which fees are part of the financial aid award. t ny do not list all college costs.
6. Loan Terms and Interest Rates Aren’t Included
You’ll never, ever see how much fees and interest rates will cost you just by looking at your financial aid award. There are too many variables for that to be possible, including things like interest rate changes. I wish you’d be able to see what it could look like, similar to an amortization schedule you receive when you get a mortgage.
The only real way to estimate the full loan costs over time is to use an interest rate calculator or ask your loan servicer detailed questions about payments over time. I encourage you to do that!
7. Colleges Leave You in the Dark on Tuition Increases
You’ll never be able to see what the tuition will be in three years, when your child is a fourth-year student. Why not? Because colleges typically don’t implement tuition increases until mid-year — they don’t even know what the increases will be yet.
The other side of this is that in the majority of cases, scholarships don’t increase as tuition increases. So, for example, the $15,000 scholarship in my example wouldn’t increase two percent if tuition goes up two percent.
Now, it’s possible to find colleges that freeze tuition for you after your first year of college. It’s also possible to find colleges that do offer merit-based scholarships that keep pace with tuition changes. It’s just a matter of figuring all of this out ahead of time.
Do Some Sleuthing
I liken this part of the college search to being a detective. You really have to analyze everything, take more than a passing glance at most financial aid awards and explain them in depth to your high schooler. Even if you do get it all, he’s likely in the dark.
Don’t be afraid to call up a financial aid officer or admission counselor and ask them pointed questions about the financial aid award. Ask them to go through it line by line with you and explain everything in detail. Here are a some really good questions to ask related to everything in this post:
Do scholarships increase as tuition increases?
Which aid must my child repay?
What are the college or university’s total costs? What are the fees?
Tell me the exact out-of-pocket cost — without loans and work-study.
What are the loan interest rates?
Be your own advocate and have your student go along with you for these conversations. The last thing I want is for you and your student to think your share of the costs is lower than it really is and fall prey to the tricky techniques colleges use.
“Did I save enough? If not, where will we pull the extra cash?”
Paying for college: The thought alone is enough to make any parent sweat right through her socks.
You may want so badly to contribute to your child’s college education, even if it’s just a little bit. Maybe you’d like to try to avoid taking out a Parent Plus Loan.
Guess what. There’s no law that says you have to use already-saved money to pay for college. You’re not doomed because you didn’t save money when your kid was in diapers!
I remember meeting with a couple from Chicagoland when I worked in admission. They really wanted to help their son pay for college. The mom decided she needed to get a job, though she wasn’t sure she wanted to spend long days in an office. Her husband said, “Looks like it’s time to get a work-from-home gig.”
She said, “Now there’s an idea!”
So she did!
There’s never been a better time to consider how to make money from home. If the COVID-19 outbreak has done anything, it’s taught that it’s possible to work a lot of different jobs from home!
First, it’s important to understand how you’ll be asked to pay for college. Obviously, you won’t need to pay for tuition for the whole year upfront. Here are a couple of quick notes on how to pay for college.
After all scholarships, grants, etc. are taken into account, what’s leftover are your out-of-pocket costs.
You’ll have a few options as to how you want to handle out-of-pocket costs. For example, you (and/or your student) can pay for them outright. You could also decide you’d like to pay for a portion of those out-of-pocket costs and get a loan for the remainder.
Most colleges send a bill twice a year. For example, colleges usually send a bill for the fall semester in late June or early July, with a payment deadline of early to mid-August.
You can break up the cost even more by using a monthly tuition payment plan. Tuition payment plans are installment plans which are usually broken up into equal monthly payments over 12 months or less. (Be sure to ask the college whether there’s a finance charge included and read my post on how a tuition installment plan can make college affordable.)
Tap into Your Talents
I’m going to go out on a limb here and suggest that it’s a great idea to leverage your talents, passions and capabilities and use those to make money. Have you ever heard the phrase, “Do what you love, the money will follow?” I love it!
I have a friend who’s an excellent graphic designer. She used to work with me at the college and now she has her own graphic design business. In fact, she’s going to help me redesign my site! She’s a real rock star in my book because she works from home doing what she loves to do.
So what’s your special talent? Are you great at gardening? Tell people about your stellar landscaping skills! (People will pay good money for that, especially if you plant it for them. I wish someone would do that for me!)
Are you or your spouse handy around the house? You’d be surprised how many people will pay to fix a washer and dryer or air conditioner.
Do you find painting to be a soothing activity and wouldn’t mind painting houses, fences, rooms, etc.
Are you a potter? Knitter extraordinaire? Use those talents to your advantage!
Pick Up a Work-from-Home Gig
The on-demand gig economy makes it so easy to get an extra job, even if you work a standard nine-to-five job. Gig websites are .
Some in-demand skills clients are often looking for include:
Tutoring: Do you have a passion for teaching a particular subject? If so, now’s a great time to take advantage of lockdown. Many parents will pay to keep their children’s reading or math skills ready to go for next year with virtual tutoring. Some companies require you to have an education degree — check the requirements beforehand. However, some don’t require an education degree.
Freelance writing: Many marketing companies and websites hire freelancers to create content on their behalf. If you’re a good writer, learn the art of the pitch and start pitching companies. If you have a good pitch and some writing samples you can share, you’re likely to have a few nibbles in no time.
Video editing: Do you have some great experience putting together video footage? If so, seek out clients for everyone from bloggers to marketing agencies.
Graphic design: More companies than ever need designers to create websites and redesign existing pages. If you have some coding background, even better!
Translating: Sure, automatic translators are a thing now, but if you have a lifetime of French lessons under your belt, know that there’s still a market for your skill. Many translating companies need freelancers to help with translation tasks through Gengo and Unbabel.
Coordinate social media: Every brand needs a strong social media presence. If you’ve got a good sense of what companies need for their social media engagement.
Freelance consulting: As an expert, you can consult others on their personal or business goals. Clarity can help you promote your consulting services. People who need your services can find you on the platform and book a paid session with you. Once you create your own client base, it might be possible to turn this into a full-time job.
Next, I’m going to list some other options that might be a great fit. They don’t require specific talents but can make you money. Some take more time to accomplish and others can happen lickety-split.
Rent Out a Room in Your Home
Your child’s getting ready to go off to college! Why not consider opening a room in your house up as a guest room? You could convert a basement kitchen to a full apartment living space. You could open up just one room to someone who needs one. Why not rent out a room to travel nurses through Travel Nurse Housing? The possibilities are endless.
I have a friend who lived in a teeny tiny carriage house right after college and she loved it. It was like real tiny house living!
Invest in Real Estate
Does your child need a place to live? Why not invest in real estate, rent to his or her roommates, and make some extra money in the process? It can help pay for college tuition. It’s a double bonus if you can buy the rental house outright.
You could do the house-hunt the old-fashioned way: Call up a real estate professional in the city where your child is going to school. If he’s going to school in North Carolina and you live in Minnesota, you could hire a management company to maintain it so you exert a little more control over the process.
You could also look for homes with Roofstock. Roofstock lets investors manage rentals like stock portfolios. You get to focus on your investment, rather than dealing with everyday headaches, like, “The roof is leaking!” or “The shower head flew off!” Roofstock’s property managers are available to handle operational responsibilities, supervising upgrades and day-to-day management.
You can also diversify your real estate portfolio in different cities.
Drive for Uber or Lyft
Okay, so this isn’t technically working from home. Still, it’s nice to work from the comfort of your own car. You can earn money right now by signing up to work for a ridesharing app like Uber or Lyft. Hospital staff, public safety officers and other essential workers still need rides to work, even during a quarantine.
During a pandemic, it’s especially important to keep your vehicle sanitized when offering rides.
Of course, how much you make is dependent on how many rides you offer. A 2016 Nerdwallet study found that in order to achieve an annual income of $50,000, Uber drivers had to complete 60 rides a week and Lyft drivers needed to offer 84 rides.
You’ll also need to consider maintenance on your car — including gas, repairs, insurance, taxes and the commissions that Uber and Lyft take.
Try Dropshipping
Dropshipping is a good option if you want to own a store without investing a lot or having a lot of risks. You don’t even need to own your inventory. Here’s how it works: After you receive an order, you buy the product from a third party, which is usually a wholesaler or manufacturer.
The third party ships the ordered product to your customer. This way, you don’t need to handle the items, see them or even ship them. You’ll make a profit between the price you charge your customer and the cost of the product that the third party charges you.
You can use an e-commerce site like Volusion to start your own dropshipping business. Try Volusion for free for 14 days.
Evaluate What’s Important
One more thing. If you’re kind of a hustler by nature, it’s easy to get addicted to it. My friend (the graphic designer) loves the hustle and finds herself up at all hours of the night — with kids and a full-time job!
Do you have a full-time job and a side hustle already? Your time is precious! How important is your time with family, time for self-care, time for everything you need to do?
Continually trading your time for money is certainly one way to do it, but consider ways to make passive income first — if possible. Making money in your sleep is always the best way to go.
When your child is college-bound, financial stress is a very real thing. In fact, the financial part of sending a child off to college can be overwhelming.
I spent 12 years working in college admission at my alma mater. Every so often, parents would break down in tears in my office. They wanted so badly to be able to pay for college. I’ve never forgotten these conversations and I still think about those families.
Money is one of the most commonly mentioned personal stressors, according to the American Psychological Association’s 2019 Stress in America survey. In fact, 60 percent of people from the survey cite money as a major stressor.
Chances are, you probably feel some financial stress — I mean, 60 percent is a heckuva lot of people!
It’s easy to say, “Think about something else! Go for a bike ride!” You know, common ways to de-stress your life. But financial stress is so different — it doesn’t go away when you spend 30 minutes with a yoga mat. It may take time and involve some serious planning.
So instead of telling you to grow your own potatoes or start extreme couponing, here are six ideas for how to attack financial stress. Warning: They’re not all quick fixes, but they will help you feel better about financial stress later on. Promise.
1. Recognize how you deal with money-related stress.
The first thing you can do to alleviate financial stress is to recognize how you handle money. Have you ever stopped to evaluate how money in general makes you feel?
Maybe you:
Never talk about it. You just let the stress build up like a hot air balloon.
Talk about money (or lack thereof) with everyone — your spouse, your kids, your friends — everyone!
Fall somewhere in between these two approaches.
Suze Orman, award-winning author and financial personality, believes that how your parents handled money paved the way for you to formulate your own attitudes about money.
Did money cause stress in your family? Did you parents spend more than they earned? Was money a source of pain? Were your parents controlled by money instead of the other way around?
Orman grew up in a poor family. She often tells the story about how her father’s small takeout restaurant burst into flames. He still ran in to get the cash register, burning his hands in the process. It showed a young Orman that money is more important than life itself!
Money is so closely tied to emotions. For families, a big source of stress can be the cost of preparing teens for college, but resources like Educo provide affordable SAT, ACT and AP exam prep designed to ease both financial and academic pressure.
You may want to think of it this way instead: You define your money. You tell it what to do! You’re in control of it! You can make as much as you want. (You just might not be able to do that completely through a traditional nine-to-five job. Check out my piece on how parents can make money!)
2. Write down your goals.
When I worked for the college, I gave a presentation to my team during our annual summer retreat about writing goals. When I announced my topic choice, I’m pretty sure everyone groaned. “Why do you feel that way about goal setting?” I asked.
I laughed and said, “What’s boring about getting exactly what you want? Let’s say you write, ‘I’d like a new car in a year and I’ll do A, B and C in order to save for it.’ What’s boring about that? You get a new car!’”
I’m sort of a geek when it comes to goal-setting. Let me tell you, writing down your goals works. For example, my husband and I resolved to save a certain amount of money by this spring because he wants a new shop. It’s currently in the works — all because of a little Google doc (and a bit of willpower, too).
The premise is simple: Write it down, make it happen!
You can write down your goals associated with paying for college. Let’s say you write, “Get a side gig by July 2020 to earn extra money for Junior’s college fund.” And yes, you can do this even if your child is set to go to college this fall.
Try it! Write it down! I promise, it works. There’s something empowering about writing down your goals and posting them where you can see them. And man, oh, man, is it cool when you turn that goal into reality.
3. Meet with a financial advisor.
You may already have a financial advisor, but if you haven’t met with him or her recently, it may be time for a financial checkup.
Never worked with a financial advisor before? One of the best ways to find a great financial advisor is to ask around. Ask your family and friends who they use in town. It’s important to have a financial advisor who has a good reputation in your community.
Next, meet with a few financial advisors and ask good questions! Here are some you can ask:
Are you a fiduciary? A fiduciary will put your financial interests before their own. If a financial advisor is not a fiduciary, don’t choose that advisor.
How do you get paid? Focus on fee-only advisors. Fee-only advisors might charge a percentage of the assets they manage for you — a flat fee for services or an hourly fee. If costs are a concern, use a robo-advisor like Betterment, WealthfrontorSigFig.
What are your qualifications? You can check the legitimacy of a financial advisor by visiting FINRA’s BrokerCheck. BrokerCheck is a free tool that can help you research advisors and firms.
How will you help me map out a plan to pay for college? Whether you’ve saved nothing at all or have some money in the bank, an advisor should be able to give you an idea of how he will help you approach paying for college.
Make sure the advisor meshes well with your personality. Your best friend may have recommended a particular advisor, but that person may not click with you. It’s okay. Move on to someone else. In all cases, your first consultation is free.
Believe it or not, talking with financial advisors is often very soothing. The reason? They help you come up with a concrete plan to help you tackle your goals.
4. Use financial aid to your advantage.
Yes, this could be the most obvious de-stressor of all — getting financial aid!
Class of 2020 parents, you can combat financial stress during this corona-crazy time. All it takes is a simple phone call. Ask the financial aid office at your child’s chosen college if there’s any extra money laying around. Inquire about extra scholarships. Ask about work-study. Tell the financial aid office about a recent job loss. Talk to someone in financial aid about any financial situation you’re going through. Colleges want your child to go to their college and can help you alleviate financial stress.
If you’re the parent of a sophomore or junior, financial aid can go a long way to help you and your child afford college. It’s a great idea to start planning now. Check out my short piece about financial aid (What is Financial Aid? Plus, 6 Steps to Get It) so you start understanding the basics.
5. Reduce other stressors.
What’s a great way to reduce stress? You can make a long list of temporary stress relievers, I’m sure: Go for a walk. Talk to a friend on the phone. Color rocks with sidewalk chalk (that’s what I’m watching my kids do right now).
Do you know what seems to exacerbate one stress? Another stressor!
For example, let’s say you’re already stressed about paying for college. It doesn’t help if you’re stressed about, say, the 2020 presidential election. (I’m not pulling this out of thin air — the American Psychological Association’s 2019 Stress in America survey actually cited the presidential election as a major source of stress. It would be interesting to know how coronavirus would rank now.)
As much as you can, try to reduce other stressors in your life. Have a talk with your neighbor about his dog’s incessant barking. Talk to your mailman about firmly shutting your mailbox door so your mail isn’t soggy every time you grab the mail. (These seem little, but man, are they irritating!)
Eliminate the little stressors so you can tackle your financial stress before college head-on and talk to your spouse or others about what’s really stressing you out.
6. Talk to someone.
Chances are, you know someone else who’s sending a child off to college this fall. Or better yet, you know someone who already has three kids in college right now. This is your tribe! Your friends and community can be a great sounding board for your fears.
If your regular tribe doesn’t include parents of college-bound kids, it may be time to find a new tribe or add to your existing tribe.
You might need to go beyond your tribe and your spouse or partner and seek counseling if you’re really stressed out. If you find daily life to be a struggle or feel that your emotions are overwhelming, seek help. Just remember, money fears are real. It’s okay to reach out to a professional.
Reduce Stress Now
First and foremost, remember to celebrate one major thing: That your child’s going to college. Focus on what’s important. He or she is going to get the college education that he or she (and frankly, you!) have always dreamed about.
Remember that even though you may want to help your child pay for college, it’s still possible for your child to get loans to fund college completely.
Above all else, consider your attitudes toward money. Again, you may want to reframe how you think about money. If you think of money as unlimited — flowing in abundance! — it might just happen and help you and your kiddo pay for college.
Your kiddo might be tired of hunting for change every time he needs to get groceries. Worse, he might be calling you for money!
College might be the most scrape-the-bottom-of-the-barrel time of your child’s life, but it doesn’t have to be that way. Here are some ideas for how to make money in college — whether your child needs a long-term gig or just wants to make a quick buck.
Cramming a job into an already-packed student schedule may seem like a daunting task, but college students all over the U.S. have jobs.
Part-timers more commonly have jobs than full-time students. The percentage of undergraduate students who were employed in 2017 was higher among part-time students (81 percent) than full-time students (43 percent), according to the National Center for Education Statistics.
How to Get a Job
Help your student consider the types of industries that might be a fit. A part-time job might help him work his way up to a full-time job after he graduates — so don’t underestimate that night-and-weekend gig.
He can even consider the right industry and which jobs fit his personality. You can be a great help here — you may recognize qualities in him that he may not even know about: (“Really, you think I’m good at caring for kids? Gee, thanks, Mom!”)
Here are a few industries to consider that are almost always hiring:
Service
Information
Health care
Finance and insurance
Real estate
Manufacturing
Construction
Agriculture
Look online for jobs in your area and encourage your child to check in with his college’s human resources office.
Can you guess the best method for getting a job? That’s right — use connections! Tap into your own connections at work and in groups to which you belong. Your network may be considerably wider than your student’s.
2. Suggest that your kiddo get an internship.
Your kiddo’s college and career center should be bursting with internship information. Of course, he’ll want to look for paid opportunities. A career center coordinator should be able to dig up internships that aren’t even on your radar. These ideas should all center around what could benefit your child’s future career.
Your student could also consider reaching out to the alumni office at her college — alumni are always super excited to help youngsters from their alma mater.
How to Get an Internship
Here are a few steps your kiddo can take to get an internship. When necessary, have her enlist the college’s career center for help during any steps.
Get that resume in order. Maybe your son or daughter will let you read it over to make sure it’s in good shape.
Make sure your kiddo writes a cover letter. It’s easy to get lazy and not write a cover letter. A cover letter is a must-do because it helps your child stand out among a pool of other interns (who may not have written a cover letter!) Make sure your child’s cover letter is in great shape (if he’ll let you read it).
Choose a few different internship possibilities. Your student may have found a few options online or a good connection through the alumni office or the college or career center. Make sure your child applies for several internships — holding out for just one option may not work out.
Make sure he asks two or three people to be references. Your student may not realize it, but he must ask people to be references and make sure their contact information is accurate.
Cross your fingers. You can’t hang over your child’s shoulder all the time. Hopefully, he double-checks a company’s online portal to make sure every part of the application is correct.
Get the right outfit for the interview. (You might be on the hook for the funds for that.)
Help your child understand basic interview etiquette. Shake hands with everyone, go over some common interview questions and make sure he follows up with a thank-you note, kind of like you would if you send a scholarship thank you letter to an individual or organization.
Work-Study Options
Juuuust in case you missed the definition at orientation, work-study is a part-time job offered to undergraduate and graduate students. The amount awarded depends on financial need. Your child will only receive work-study if you file the FAFSA.
It’s possible to work on or off campus. College students usually work for the school if they work on campus. Your child might work in a couple of different areas at the college or university:
Athletic office
Business office
Admission and/or financial aid
Food service
Academic departments
Grounds crew
Library
Security
Day care
The HR office will be able to give your son or daughter a list of jobs. Your kiddo might also be able to get work-study through a private nonprofit organization or a public agency. Colleges can have agreements with private for-profit employers for work-study jobs.
Undergraduates are paid hourly but graduate students can earn an hourly wage or salary. The trick to work-study is that students can’t work more than what they’ve been allotted through the financial aid award.
Steer Your Kiddo Toward a Side Gig
It’s tough to fully commit to a job or internship during college, which could require more structured hours. What about a side gig with looser hour requirements? Your student may be able to pick and choose specific hours. Here are a few ideas that can offer flexible hours:
Tutor
Babysit or nanny for parents who need help after school, during weekends or anytime between classes
Teach music lessons or perform
Be a tour guide for the town
Manage social media for businesses
Personal chef
Walk dogs
Scoop dog poop (yes, that’s a thing!)
Clean houses
Do yard work
Use TaskRabbit to find jobs and help people do tasks like raking leaves or fixing cabinet doors. Granted, this could be considered a “real job,” but it’s possible to pick and choose among jobs. You’re not committed to being at the same place for eight hours per day.
How to Make Money in College without Getting a Real Job
What with o-chem homework every night, your student may not have time to get a real job at all. Here are a few ways your student can make money in college without getting a “real” job or even a side gig.
Make Money Online
Earning money online is one of the best ways to make money in college. Here are a few ways your student can make money online:
Fill out online surveys like Swagbucks or InboxDollars. It’s possible to make a few extra dollars doing these.
Participate in focus groups for online market research — these types of surveys pay more than online surveys like Swagbucks. Check out Respondent or Fieldwork.
Answer questions on JustAnswer. Does your student have a particular area of expertise that can help people? JustAnswer can be a great option.
Do micro jobs on Mechanical Turk. Just create a worker account and work on the types of Human Intelligence Tasks (HITs) your child qualifies for.
Teach online through Cambly, SayABC or the Tutoring Lab — no degree is required for any of these.
Do freelancing online, whether it’s writing, web design, web development, graphic design, search engine optimization (SEO), mobile app development and more.
Your child may have an extra room or basement and may be able to look for another roommate. Make sure your student gets a background check on each potential roommate.
Use Decluttr to get rid of electronics, Blu-ray discs, DVDs and more.
Sell unused clothes through a brick-and-mortar consignment shop or online through Poshmark or ThredUp.
Sell scrap metal at a local recycling plant — copper, brass and aluminum will make the most money but all scrap metals have some value.
Sell just about anything else on Craigslist — furniture, old TVs, lamps, décor, yard equipment, etc.
How to Help Your Student Make Money in College
Chances are, your student feels guilty asking you for money twice a month. Ask your child to consider other ways he or she might be able to build up some savings. Encourage your child to be creative and think enormous, giant-sized dreams. Wouldn’t it be incredible if he launched a lucrative entrepreneurial endeavor from your dorm room?
Kids are exposed to so much creativity in college — there may never be a better time to bootstrap that idea that’s been rattling around in his head since freshman year.
When I was an admission counselor, one of the most challenging parts of my job was building relationships with high schoolers.
I remember contacting a particular student for months. I’d talked to his parents a handful of times and they said he was really interested in the college I worked for — he’d applied and everything. I texted, emailed and social media-ed. In a last-ditch attempt, I even called his cell. (What teenager answers his phone?)
I never heard from him. In fact, he remained elusive to everyone at the college. Finally, he visited in March, barely talked throughout our meeting but ended up enrolling.
It’s so important for kids to develop relationships during the college search process — and it’s a good idea for parents to do the same! It can work wonders for their college search and help your child hone in on the right college match.
Why? Building relationships allows you to get an idea of the character of the people at that school — and that’s just one reason why building relationships is a must-do.
Why it’s Important to Build Relationships During the College Search
Jessica Quintana Hess, director of admissions at Lycoming College in Williamsport, Pennsylvania, says, “Families sometimes think, ‘We have all the information we need on the internet. Why do we have to talk to anyone?'”
She says there’s real value in building relationships with the admission staff, financial aid office, coaches and more. She says that, unfortunately, students often don’t take advantage of that or think that the colleges should only exist to serve them. Think of it this way, though. How can an admission counselor help you if he or she doesn’t know what you need?
“Relationship building can help you in the admission process, but if you’re not giving me anything, I can’t advocate for you,” she says.
Building relationships can:
Help those at colleges do active work on your child’s behalf. So, what I mean by this is that people at the college can advocate for your child, go the extra step and help your kiddo with whatever he needs. Quintana Hess shared this story with me:
She says a young man enrolled at another college (not Lycoming) and got into a bit of trouble during his pre-orientation sessions. He could have stayed at the college but didn’t feel comfortable there anymore. He reached out to Quintana Hess because he had applied to Lycoming. She says he ended up enrolling because she was willing to give him a chance.
“If we hadn’t built a relationship when he was an applicant, he wouldn’t have felt comfortable coming to me,” she says. “I get Christmas cards from his family every year,” she adds.
Cement relationships for down the road. This process is all about finding the match, right? You want to find the right place for your child — and that means interacting with the actual people at the college. Not the buildings online or the list of classes. The college experience is about the people.
Help your child learn about opportunities. You hear about the heart and soul of an institution from the people who work there. You’ll find out how the robotics instructor hosts dinner at his own home or how the journalism professor stays up till all hours of the night to help students put the finishing touches on a fantastic article.
How to Start Building Relationships with Colleges
There are so many people you could start building relationships with — even before your student arrives on campus. There are three key individuals you’ll want to build a relationship with, plus, one more.
Admission Counselor
The admission counselor’s job is to build relationships with you, particularly if you’re looking at a small private liberal arts college. Even if your son or daughter is looking at a state school, it’s still a great idea to build that relationship.
How do you know who your admission counselor is at each school your child is interested in? Great question.
All it takes is a little poking around on the internet. The country is typically divided up into a giant jigsaw puzzle. Just click on your area and you’ll find your admission counselor.
Coaches (Including Assistant Coaches)
Coaches want to get to know your child, obviously. Your child definitely wants to get to know coaches, too. Just don’t overlook getting to know assistant coaches. They’ll be able to answer a lot of questions that the head coach might not know, including about different aspects of team dynamics.
Definitely build a relationship with players every time you and your child is on campus. Have lunch with team members. Have your child do an overnighter. Make sure your student feels 100 percent comfortable with the team.
Financial Aid Professionals
Financial aid professionals are VIPs. Who else holds the key to knowing everything about institutional scholarships, the FAFSA, grants, work-study, loans and more?
Always make an appointment with the financial aid office when you visit any school. It may not even be an offered option online, so call and ask for an appointment.
School College Counselor
Right, school counselors aren’t at colleges. However, this is a great person for you and your child to get to know at her high school. School counselors can clue your child in on scholarships, connect her with must-know people in the community (scholarship opportunities!) and help navigate the college search.
They wield tremendous power. A dozen cookies and weekly drop-ins from your student will go a long way.
How to Build Relationships
You may know exactly how to build relationships, but your kiddo might not have any idea. Kids spend hours each day engaging with ideas and one another through screens, but do they have good practice honing their interpersonal communication skills?
I noticed this when I greeted hundreds of high school kids over the years — they just don’t know how to talk to adults.
Some parents are whizzes at teaching their kids to interact with adults. I’m always impressed when I say “Hi” to kids and they look me right in the eye, shake my hand and engage in simple small talk.
Teaching kids how to do this gives them a lifelong advantage — I repeat — a lifelong advantage! They’ll be able to ask questions in college, do better in college, and succeed in college! They can sell themselves in job interviews after college (see the theme here?)
Now’s as good a time as any to encourage your child to start learning how to do this, especially if you know it’s kind of difficult for him.
Fortunately, you can start small. Building relationships with colleges happens in more ways than one. You can:
Email
Call
Text
Communicate via social media
Conference calls
One-on-one meetings
And more! (I think the COVID-19 crisis will give admission offices even more ideas about how to communicate with students throughout the year.)
So, knowing there are lots of ways to communicate with colleges, I think it’s worth mentioning what your son or daughter can practice.
You want firm handshakes, eye contact and more when he or she interacts with adults — yes, even if your child is naturally shy. Here are some things you can work on.
Initiate Contact
Teach your high schooler that it’s a great idea to initiate contact with an admission counselor. Trust me, guys, I was an admission counselor for years and admission counselors are hungry to hear from your child. It’s the best day ever to open up an email from an interested student or get a text that says, “Hey! I’m interested in your college. Can you tell me more?”
Trust me, most admission counselors will fall all over themselves to answer your child’s email or text.
Respond to Questions
The only way to get better talking freely with adults is to practice. Even among peers, is your child uncomfortable responding to questions or never pipes up in a group setting? It’s okay to be shy, but encourage your child to contribute if he or she is burning to say something. It’s a great idea to practice doing this among friend groups first, then translate it to adults.
On the other hand, your kiddo may find it super easy to interact with peers, but not with adults at all. Encourage your child to practice. Say “Hi” to people at church, have her call up for pizza delivery. Ask your daughter to make her own appointment to get her hair cut — over the phone, not online.
Then work up to calling someone in the admission office to get information. Even better, have her set up a college visit. That’ll require a dexterous blend of having to schedule, coordinate and make decisions. Great practice!
Sustain Conversations
Teach your child how to keep a conversation going and more importantly, be sincere in the questions he’s asking.
Gah, it can be such a thing to teach a high schooler how to have a conversation that’s not one-sided. Kids are so used to adults talking and asking the questions — do kids ever practice asking the questions? No. Teach him the art of the open-ended question.
A good suggestion is to talk about the things your child is passionate about — sports, hobbies, goals, dreams. A college professional always wants to hear about a kid’s goals and dreams. It’s what they live for!
I remember a 30-year-old nontraditional student I talked to in the admission office who had a dream to still go to medical school. At 30! I was entranced by his story — I could have listened to it all day.
Admission professionals lap that stuff up. Make sure your child knows how to talk about his goals.
Practice it Yourself
You may cringe if you notice that your child doesn’t interact well with adults.
But what are your own habits? Do you go out of your way to make small talk with strangers at the grocery store or waiters at a restaurant, or do you just exchange acceptable pleasantries and nothing more?
Your child picks up social cues from you. Remember that.
Continued Communication
When people like you, they want to continue chatting with you! The best thing you can do is have your child continue to stay in contact with prospective schools for an entire year. (Yes! A whole year!)
If your child’s no longer interested in a particular school, it’s important that he tells them. Reach out to admission counselors to let them know they no longer need to recruit your child.
(It can be frustrating for admission staff to have to keep reaching out blindly because they have no idea your child’s no longer interested.)
Have your child send an email or text to the admission counselor to let them know they’ve chosen a different college.
Start Building Relationships Now
Don’t waste any time! Start building relationships with everyone you can at all colleges, whether your child is a sophomore or senior. Make sure your student does, too. It’ll serve your child well later.
