Monday, November 11, 2013

Kid Sports a Good Investment?

Being a parent of four kids that all play sports has provided me a perspective of kids sports that I find worth sharing with those parents who are on the fence when it comes to allowing their kids to play sports. I understand playing sports is not for everyone, so this may only apply to those parents that have kids that want to play sports and they said no or if they said yes it was reluctantly. I want to start by saying that as far as I'm concerned, no matter how much a child wants to play a sport or how good they maybe at playing a sport, that the first priority has to be their education. There is no debate on this issues for me whatsoever. While this may seem so practical and in some cases obvious, sometimes it is not the practical or what seems obvious that will bring you to the right solution, it will depend on the child and the circumstance involved. However, I think it is important to get this out there right away because this is probably one of the major reasons many parents don't allow their child to play sports. They believe there has to be a trade off that allows the child to put sports first and education somewhere farther down the list.

This message is not really focused on those parents that have played sports in school or college and have personal insight into the things to be considered for their kids to participate in sports. This is more for those parents that don't or may never have participated in sports and may view it as strictly entertainment for the rich and famous. I know that is a very broad statement but I want address the extreme of this situation for those parents who truly struggle with finding the value in their child playing sports, when they consider the time, money and detraction it may caused in them getting a good grades and an education. The question that comes to mind for that parent is "What is the chance of them having a Professional career in sports?"

My response to that question is that is in many cases this would be considered an extreme reference for making a decision on allowing your child to engage in a sports activity. This being said, it is a true concern for many parent especially in those cases where for example the child is a freshman in high school and they want to continue to play basketball, football, soccer or whatever the sport maybe and they are barely maintaining a passing grade in some or all of their classes. When kids are younger other factors usually come into play on parent supporting them in sports, like having the money and time to support and participate at a level most sports demand for a child to play for example recreational soccer, basketball or track and field for that matter.

This is not to mention some of the more demanding sports like gymnastics, swimming and ice skating with regards to the level of commitment required on the part of the parent to support their child. Where am I going with this? As a parent that really didn't have an opportunity during my youth to participate in sports and one that usually only catches the play offs for most sports if that, yet having and supporting four kids that have all participated in one sport or another since they were about five years old. Why you ask? In all honesty there was a time with my oldest that I supported him primarily because I believed he had the drive, coaching and ability to be an Olympic hopeful in the sport of gymnastics.

However, there were a number of circumstances that caused my view to change over time, and my support for him and our other children that followed, was for a whole sets of different reasons that had little to do with them being a career athlete. Consider for a moment the number of kids that achieve this goal versus the number that don't have the true desire, commitment, skills, work ethic or opportunity. So given these and other factors should the parent just say no!

 I would suggest looking at it from a different perspective before you answer that question. What is an investment? It usually is a use of your resources and assets to hopefully acquire a positive increase or return on that investment. I suggest those parents that are on the fence look at their child playing a sport as a potential investment in them the same as you would their education. There is no debate of the cost required to support a child's education from the time they start kindergarten until the hopefully graduate from high school. I suggest that to be the minimum investment required to position a child for their future. So what about those parent that believe the minimum is a college degree or certificate of education in a given technical field or occupation.

If you desire your child to attend college then you don't need me to tell you the amount of the investment has in many cases increased two-three fold, given the cost of college and associated expense, and it seems it is only going up. What if your investment in your kid playing a sport was about helping them to get into college and not about launching their professional career in sports?  I have added a chart taken from Scholarship Statistics website for 2012 to provide insight to the size of the opportunity for your child to get an education at some of the top ranked college across the country, if they are awarded an athletic scholarship for their sport. There are college bound athletes that have acquired a full ride as they say because they were recruited by a college to play a specific sport. While some of these athletes will go on to play professional sports, that in my mind is up to that son or daughter that is now competing at that level but has a college education regardless if they decide to go or not to go further with their sport ambitions.

 So in keeping with the theme of this message if you are on the fence regarding supporting your child in sports I request you consider it from this perspective.  The same way you view supporting them in their education as an investment let them know that their participation in a sport will be treated the same. If they are able to do both at a level that assures them a good education determined by things like grade point average, SAT and ACT scores (college entry exams) when those come into play usually by freshman and junior year in high school.

Everyone that gets a high school diploma or college degree is not going to be a doctor, lawyer or engineer the same applies to everyone that plays sports is not going to achieve or necessarily desire a professional career in sports. My approach to supporting a child that wants to play sports is that they must be achieving passing grades if they really want it, it is not one or the other it has to be both. With the next statement being one that clearly said the priority has to be passing grades. Why? Because if they want to play sports in college the same rules apply.

NCAA Raises Minimum GPA for Incoming Student-Athletes

Starting in August 2015, high school student-athletes who hope to play sports in college will be held to a higher academic standard. While freshmen only need a 2.0 GPA to be eligible for competition now, the new rules require student-athletes to have a 2.3 GPA to have immediate access to competition.

But at the same time they are increasing the scholarship funding the athlete can acquire.

The board adopted legislation that will allow schools to give student-athletes up to an extra $2,000 in athletic aid (assuming it doesn't exceed the full cost of attending the school). The board set that $2,000 number in stone for the next three years.

I hope this information helps because this as many other tough decisions parents have to make in providing their kids what they need to be successful, it is not always easy and once the decision is made there is still a high degree of support needed by the parent to see it through.

** By our calculations there were approximately 177,559 College Athletic scholarships available in 2012.

Varsity Sport 
  Total
 Schools
 Total
Athletes
        
 Men
        
 Women
Archery 4
51
22
29
Badminton 15
128
-
128
Baseball                1,643
53,241
53,241
-
Basketball             1,973
59,039
31,473
27,566
Beach / Sand Volleyball 17
245
-
245
Bowling 113
1,651
595
1,056
Cross Country        1,463
35,936
17,691
18,245
Cycling & Mountain Biking 6
176
124
52
Equestrian 65
2,170
46
2,124
Fencing 42
1,296
622
674
Field Hockey 260
5,632
-
5,632
Football               871
87,256
87,256
-
Golf 1,299
18,282
12,147
6,135
Gymnastics 88
1,907
346
1,561
Ice Hockey 150
6,188
4,181
2,007
Lacrosse 451
20,532
11,748
8,784
Rifle 34
426
237
189
Rodeo 74
2,204
1,364
829
Rowing 147
10,186
2,994
7,192
Rugby 11
457
310
147
Sailing 34
1,191
547
644
Skiing 42
1,069
560
509
Snowboarding 2
40
21
19
Soccer               1,613
72,231
36,741
35,490
Softball 1,636
29,670
-
29,670
Sprint Football 8
428
428
-
Squash 32
860
463
397
Swimming & Diving 600
23,382
10,304
13,078
Synchronized Swimming 5
65
-
65
Tennis 1,176
20,859
10,122
10,737
Track & Field 1,075
90,747
45,218
45,529
Volleyball 1,737
27,169
2,004
25,165
Water Polo 112
3,439
1,610
1,829
Wrestling 322
9,212
8,969
243
Other Sports 12
386
205
181
Total Student Athletes Participating
587,750
341,588
246,162
Source:http://www.scholarshipstats.com/







                  

    
 
 
 
   
 
 
 
                
 
 
 
              
 
 
   
 
   
 
 
 
   
 
 
 
        
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
                
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
               
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
   
 
 
 
 
 
 
 
 
 
 
 


  

 
 
 
        
  
        
  
    
    
                    
                  
    
     
             
    
    
    
    
                     
    
    
    
    
    
    
    
    
    
    
    
                  
    
    
    
    
    
    
     
    
    
    
    
   





 

Friday, October 12, 2012

Making the Right Choice - Under-Graduate Degree


While it is still a pretty good bet that having an undergraduate degree will improve your chances for employment and a better salary. The statistic say a high school graduate will make 40% less than someone with a undergraduate bachelor degree and maybe more than twice as likely to be unemployed. In today’s economy that is not a place if given the choice and opportunity you would want to be. However, if you are going to spend both the time and money to get an under-graduate degree, selecting the right course of study would be a good way to improve the return on your investment. So here are the results of a study of the 100 most popular majors for under-graduate degrees the best and the worst you chose. Based on a study by PayScale and Georgetown University's Center on Education and the Workforce, The following are your top ten best and worst undergraduate degrees. When selecting your course of study, do the research this is not something you want to find out at graduation. The study looked for majors whose graduates -- both recent grads (within the past five years) and those well into their careers.

The following list of the worst majors starting with the Best of the worst “English” and ending with the worst Anthropology. (Indiana Jones might not agree but he is a movie star)

No. 10: English

Unemployment rate: 6.7% (average for all graduates with bachelor's degree: 4.9%)Unemployment rate for recent grads: 9.2% (average for top 100 majors: 7.7%)Median salary: $48,000 (median for all grads with bachelor's: $54,756)Median salary for recent grads: $32,000 (median for top 100 majors: $37,000)Projected job growth for this field, 2010-2020: 6% (average: 14%)
No. 9: Sociology

Unemployment rate: 7.0%Unemployment rate for recent grads: 8.6%Median salary: $45,000Median salary for recent grads: $32,000Projected job growth for this field, 2010-2020: 18%
No. 8: Drama and theater arts

Unemployment rate: 7.1%Unemployment rate for recent grads: 7.8%Median salary: $40,000Median salary for recent grads: $26,000Projected job growth for this field, 2010-2020: 4%
No. 7: Liberal arts

Unemployment rate: 7.6%Unemployment rate for recent grads: 9.2%Median salary: $48,000Median salary for recent grads: $30,000Projected job growth for this field, 2010-2020: not available
No. 6: Studio arts

Unemployment rate: 8.0%Unemployment rate for recent grads: 11.1%Median salary: $37,000Median salary for recent grads: $35,900Projected job growth for this field, 2010-2020: 5%
No. 5: Graphic design

Unemployment rate: 8.1%Unemployment rate for recent grads: 11.8%Median salary: $45,000Median salary for recent grads: $32,000Projected job growth for this field, 2010-2020: 13%
No. 4: Philosophy and religious studies

Unemployment rate: 7.2%Unemployment rate for recent grads: 10.8%Median salary: $42,000Median salary for recent grads: $30,000Projected job growth for this field, 2010-2020: Not available
No. 3: Film and photography

Unemployment rate: 7.3%Unemployment rate for recent grads: 12.9%Median salary: $45,000Median salary for recent grads: $30,000Projected job growth for this field, 2010-2020: 13%
No. 2: Fine arts

Unemployment rate: 7.4%Unemployment rate for recent grads: 12.6%Median salary: $44,000Median salary for recent grads: $30,000Projected job growth for this field, 2010-2020: 5%
No. 1: Anthropology

Unemployment rate: 6.9%Recent grad employment rate: 10.5 Median salary: $40,000Median salary for recent grads: $28,000Projected job growth for this field, 2010-2020: 21%

The next list of the best majors starting with the last of the best “Medical Assisting Service” and ending with the best Pharmacy and Pharmacology. (Working at the local Walgreens could be a good thing.)

 Taking the same approach and using the same data base of the 100 most popular college majors, came up with the top ten best using data from Georgetown University's Center on Education and the Workforce and Payscale.com.

10. Medical Assisting Service

Unemployment rate: 2.9% (Average for all grads with a bachelor’s degree: 4.9%)
Unemployment rate for recent grads: 5.4% (Average for top 100 majors: 7.7%)
Median salary: $51,000 (Median for all grads with bachelor’s: $54,756)
Median salary for recent grads: $43,000 (Median for top 100 majors: $37,000)
Projected job growth for this field, 2010–2020: 31% (Average: 14%)

9. Management Information Systems
 
Unemployment rate: 4.2%
Unemployment rate for recent grads: 7.4%
Median salary: $71,000
Median salary for recent grads: $51,000
Projected job growth for this field, 2010–2020: 18%

8. Construction Services
 
Unemployment rate: 5.4%
Unemployment rate for recent grads: N/A
Median salary: $65,000
Median salary for recent grads: $50,200
Projected job growth for this field, 2010–2020: 17%

7. Medical Technologies

Unemployment rate: 1.4%
Unemployment rate for recent grads: 5.4%
Median salary: $58,000
Median salary for recent grads: $45,100
Projected job growth for this field, 2010–2020: 13%
 
6. Electrical Engineering

Unemployment rate: 5.0%
Unemployment rate for recent grads: 7.3%
Median salary: $86,000
Median salary for recent grads: $57,000
Projected job growth for this field, 2010–2020: 6%
 
5. Chemical Engineering

Unemployment rate: 3.8%
Unemployment rate for recent grads: 7.5%
Median salary: $86,000
Median salary for recent grads: $64,500
Projected job growth for this field, 2010–2020: 6%

4. Treatment Therapy Professions

Unemployment rate: 2.6%
Unemployment rate for recent grads: 5.4%
Median salary: $62,000
Median salary for recent grads: $60,400
Projected job growth for this field, 2010–2020: 33%

3. Transportation Sciences and Technology

Unemployment rate: 4.4%
Unemployment rate for recent grads: N/A
Median salary: $68,000
Median salary for recent grads: $53,100
Projected job growth for this field, 2010–2020: 5%
 
2. Nursing

Unemployment rate: 2.2%
Unemployment rate for recent grads: 4.0%
Median salary: $60,000
Median salary for recent grads: $48,000
Projected job growth for this field, 2010–2020: 26%

1. Pharmacy and Pharmacology


Unemployment rate: 3.2%
Unemployment rate for recent grads: 5.4%
Median salary: $105,000
Median salary for recent grads: $51,200
Projected job growth for this field, 2010–2020: 25%

The fact of the matter when selecting a course of study, it is not just about the money you will make, but when you consider of all the under-graduate degrees you have to chose from why not pick one you will both enjoy and also be able to make a living doing it.
 

Wednesday, May 2, 2012

4 Grants Available via FAFSA


As I have been saying since the creation of this blog, why pay for your college education with a loan when free money is available.  The source of that free money remains the same and the best way to position to get it is still a FAFSA application (Free Application for Student Aid).  The biggest sources of free money are made available as a result of completing FAFSA, and are awarded by federal and state program. Athletic and Academic Scholarships still only make up a fraction of financial aid for college with grants making up about 40%, with loans filling in the rest. The beauty of a grant is you don’t have to pay it back.  The unfortunate truth remains that the FAFSA process is still under-utilized by a majority of students that would easily qualify for financial aid. The general message has been apply early to get the best results for your effort, while my continued mantra has been at least apply what do you have to lose? What is the worst thing that could happen is potentially being awarded government student loan that will have a better payback interest rate then most lending institute you may use for that purpose. There are four grants that may be made available based on your personal situation, college of choice and need for aid.  They are Federal Pell grants represent the larger of the grants and are determined by need and choice of college as they apply to federal guidelines. These grants usually are a fixed amount each year and may be supplemented with additional grants for specific subject math, science and social science or academic awards based on grade point average and academic excellence.  The next would be Federal supplemental education grants to assist neediest students and State grants to encourage specific areas of study and Institutional grants from the college themselves to assist when other financial support from federal and state grants are not enough. The best way to get the most out of institutional grants is by targeting colleges that have expressed a desire for you to attend.  So I will keeping saying it, fill out the Free Application for Federal Student Aid (FAFSA) and submit online or request an application by calling the U.S. Department of Education at (800) 433-3243. It's smart to file as soon as possible because many colleges' aid deadlines are in early to mid-February, and their reserves of grant money may have used up substantially by the time they actually stop accepting applications. The FAFSA requires copies of your parent’s previous year's tax return. If you don't have that ready, you can include a return with estimated numbers and update them when you get better numbers.


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Sunday, November 6, 2011

Why Is this this still the Best Kept Secret?

The existence of grant money and low cost loans via the federal government using FAFSA has been in place for a very long time. However, there still seems to be a gap in general awareness about the internet online based application to determine if free money or low cost loans are available for you or your college bound student. The way it works you have everything to gain and nothing to lose except a little time ands effort to complete the application. The core purpose of the program is to provide financial aid to everyone that qualifies in the US. There are no penalties for applying and not accepting or for applying and not being awarded financial aid. So what is the downside, good question not much other than some of the information required may not be readily available and there may have to be a bit of digging through stored tax returns and related documents. There is no guarantee that you or your son or daughter will be awarded a grant which is financial aid that has no required to be repaid by the benefactor. What still may be available even in this case are federal low cost loans that will better position for needed funds than applying via a bank. The process is set up to provide immediate notification to the colleges you chose to highlight in the application. The additional benefit of this action is to get your student thinking about the cost of a college education, what college they might want to attend if given a choice and the selection and ranking of colleges that provide the educational areas of study they have decided to pursue. How long does it take to complete an application, maybe an hour or so depending on your ability to compile the required information and the reward for taking that time could reduce the cost of you or your student’s education significantly. When should you be completing an application to determine possible grant or loan support? It should be no later than the junior year in high school that you begin to acquire the needed information. The application also provides an early notification to college you or your student attend to apply for acceptance.

So a bit of information from the FAFSA internet site.

. "Sadly, many students, up to 8 million in fact, don't even apply for aid, in part because of all the red tape. We believe most would have been eligible for assistance. (U.S. Secretary of Education Margaret Spellings )

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What Is a FAFSA?

All college students are expected to contribute towards their education costs. How much you and your family will be expected to contribute depends on your financial situation — and is what’s called your Expected Family Contribution (EFC).
The Free Application for Federal Student Aid (FAFSA) is the form the U.S. Department of Education (ED) requires to determine your Expected Family Contribution (EFC). The government conducts a “need analysis” based on financial information, such as income, assets, and other family information, which you (and your parents if you are a dependent student) will be asked to provide.
Your application is examined by a federal processor and the results are sent by computer to the financial aid offices of the colleges you’ve chosen.
The FAFSA is the application most colleges use to determine eligibility for federal, state, and college-sponsored financial aid, including grants, educational loans, and work-study programs.

Eligibility

Nearly every student is eligible for some form of financial aid, including low-interest Federal Stafford and/or parent PLUS loans, regardless of income or circumstances, provided that you:

•Are a U.S. citizen, a U.S. national, or an eligible non-citizen;

•Have a valid Social Security Number;

•Have a high school diploma or GED;

•Are registered with the U.S. Selective Service (if you are a male ages 18 to 25);

•Complete a FAFSA promising to use any federal aid for educational purposes;

•Do not owe refunds on any federal student grants;

•Are not in default on any student loans; and

•Have not been found guilty of the sale or possession of illegal drugs during a period when you received federal student aid.

Deadlines


You can file your FAFSA starting January 1. (You can do it earlier with us and we’ll file the form January 1.)

Federal aid is limited and much of it is offered on a first-come, first-served basis, so the earlier you file the better your chances of accessing the most financial aid possible.

Many states, colleges, and universities have filing deadlines as early as the first weeks in January.

Pay close attention to how colleges word their deadline instructions. Some refer to the date by which your FAFSA must be submitted – the Transaction Receipt Date – while others refer to the date your completed aid application must be sent by the federal processor to a college’s financial aid office.

Missing deadlines can ruin your opportunity for financial aid. You should check with your colleges’ financial aid administrators to learn each college’s exact FAFSA deadline. Filing as close to January 1 as possible is highly recommended.

http://www.fafsa.com/understanding-fafsa/


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Tuesday, February 15, 2011

FASFA Has Gotten Easier in 2011

The need for financial assistance is probably greater now than it ever has been before and FASFA should still be considered one of the first things you do regarding getting financial assistance to go to college. Here we are in 2011 and there still hasn’t been a major upturn in the economy and possible cuts and reductions to federal aid are rumored to be on the horizon. Continuing economic challenges have prompted state legislatures to consider cut-backs on scholarship programs and congress to consider reducing the size of Pell grants. None the less aid is still available with applicants applying to colleges across the country. The good news is that at least applying has gotten easier. In the past many have steered clear of the primary source of federal aid for individuals with aspirations to go to college. The idea of completing a FAFSA application was considered to be too complex and required too much information by the applicant to be considered for scholarships, grants and loans. However, the Free Application for Federal Student Aid (FAFSA) has gotten simpler as a result of enhancements to the online application process and modifications to the required information. So now it will take less time to complete the FASFA application process required to qualify students for federal student loans, grants and scholarships. There are three changes that should make it easier for applicants to complete the FAFSA. There are a number of online tutorials and web videos that have been created to help facilitate the completion of the application. In addition to online aids the Department of Education has eliminated a number of the confusing questions. Also enhancement to the online application will result in a lot less time to import IRS information into FAFSA. Another major source of help has been in the high schools promoting and encouraging the completion of the application and providing on-site resources to assist in the process. 

Saturday, October 2, 2010

How to pick the right college?

What are primary reasons to select the right college for you and once you do what is the next step? There are so many factors involved with selecting the right college that seem to get overlooked during the decision making process. The default takes on many forms resulting it’s where mom and dad went to school, it’s the best engineering school in the country, it’s not too far away from home and so on. Think about it for the next 4 -5 years you are going to be engaged in the best and worst years of your young adult life is that really enough to base so an important decision on? What about things like a feeling of safety, financial assistance, study programs, graduation statistics,  tuition and related cost compared to colleges of equal or similar rankings for your educational goals, size of student body and acceptance criteria. This is not to complicate matter’s, it’s more of an overall assessment of your targeted college to determine how many of these factors would get a thumbs up. Selecting the right college is a substantial commitment of time and money.  Making the right choice should at a minimum meet with objectives required to view the experience as a successful one.

Monday, August 30, 2010

Student Loan Debt Higher Than Credit Card Debt

Consumers owe more on their student loans than their credit cards, according to data released this month by the Federal Reserve.
The data found that in June, Americans owed $826.5 billion in revolving debt - which usually takes the form of credit card debt - and $829.78 billion in student loan debt. This is the first time in history Americans have carried more student loan debt than credit card debt. It is believed to be another consequence of the troubled economy.

If as illustrated by the chart below students are completing college with an average debt of $30,000.00 maybe they should be considering other forms of paying for their education. The ability to get student loans maybe easier than completing a FAFAS application but the end result could make the extra time and effort worth it. The reality of the situation is that you have everything to gain and nothing to lose by attempting to get financial aid in this manner that might provide a debt free education. It holds true that everyone that decides to get a college education cannot afford it on the front end. However, in the past there was good chance they could afford it on the back end once employed. This being said many approach the idea with a level of comfort and experience of others that have gone before them that you finish college get a job and then make paying off your student loan a priority. This probably still holds true but acquiring the job that allows you to pay off that debt in a reasonable amount of time maybe a little harder to find in this economy. The point being look for every opportunity to get grants and scholarships that will assist you or your college bound child to finish college not necessary debt free but as little debt as possible.