Right fit college matching is a cornerstone of SEED’s college success programming. Insights gathered from decades of SEED graduate experiences, combined with a data-driven assessment process, have helped us identify key factors for college completion. We’ve learned that low-income, first-generation students have the highest degree attainment rates when they attend colleges with a proven track record of:
· High graduation rates,
· Generous financial aid packages, and
· High quality on-campus student supports.
In this article, we explore what generous financial aid packages look like at right fit colleges and universities, and how SEED prepares students to make informed decisions about their financial futures.
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The Power of Right Fit Financial Aid
While the benefits of a college degree are numerous, for a student to reap the long-term rewards of higher education, it must be affordable. Financial aid is critical to college persistence and completion.
For students considering stopping out of four-year colleges, 39% cited financial reasons, according to a report by the Lumina Foundation. Conversely, financial aid keeps scholars on track: 56% of enrolled college students said financial aid and scholarships were a very important reason why they continued toward their degrees.
Fortunately, paying for college is possible for students of all income levels. At SEED, we work with students and families to increase their knowledge on how to finance a college education and identify right fit colleges and universities that provide generous financial aid packages, which are essential because they promote financial freedom after college. We identify schools that enable SEED graduates to persist through degree attainment and start their careers without the burden of overwhelming debt.
Yes, College Can Be Affordable.
Paying for college is possible, a concept that we continuously reinforce at SEED. We look for colleges that have:
1. Consistent financial aid awards that match student need,
2. Minimal gaps between financial aid awards and the total cost of college, and
3. High grants and scholarships versus loans.
A good financial aid package is one where students are not taking on significant loan debt. Financial education is a critical element of college readiness, and those lessons are continuously reinforced for SEED students. “It starts with early exposure,” explains Dean of College Readiness and Advising Caleb Wooten at SEED LA. “At SEED, financial literacy conversations start happening in the ninth grade.” Mr. Wooten has students research the “sticker price” at some of their dream schools. Then, they look at how financial aid is applied and how that changes the true cost of attendance. This debunks the myth that paying for college is out of reach. “We look at what people in a certain income bracket actually pay. And they see the difference—for example, University of Southern California may cost a hundred thousand dollars, but if you’re in a particular income bracket, you may only pay a few thousand dollars.”
Financial education continues and gets more detailed as students get closer to applying for and deciding on right fit colleges. Students apply the lessons they’ve learned to review actual financial aid offers they receive. With their college success advisors, SEED students:
· Calculate their total costs (tuition, fees, room and board, transportation, etc.) and
· Assess the percentage of loans versus grants and other key factors.
Armed with this knowledge and SEED’s college success expertise, students are able to select the right fit college that will best set them up for success.
Partnering With Families
SEED centers trust in its partnership with families, who increase their knowledge around the college process alongside students. For example, SEED LA hosts monthly family workshops on paying for college in partnership with the organization Educating Students Together. “That really helped families feel more confident in the college application process and financing it,” says Mr. Wooten. Empowered with knowledge, and supported by SEED’s expertise, students and families are able to cross the finish line of what can seem like a marathon of financial aid forms. Mr. Wooten adds, with the information they learn and the support of staff, “Families are a lot more engaged and willing to have these conversations, even when it involves providing sensitive information. Because the trust has been built, they respect and understand the process, and they are willing to advocate and partner with us.”
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At SEED, we operate on the belief that all students can and deserve the opportunity to earn a college degree. And we recognize that affordability is the single most critical factor driving college success and completion. To address this, SEED provides resources and partnership to help students and families access financial aid and identify colleges that are committed to helping them graduate on time without being burdened by debt.
With right fit in mind, SEED students and graduates can make smart, informed decisions that lead them to successfully earn a degree and start their careers with opportunity.
Want to learn more about right fit college matching? Check out our series describing on campus academic, financial, counseling, and disability supports.