That harsh question is posed by a Massachusetts guidance counselor in response to the College Board’s recently announced deal with Citibank to promote their private student loans. This announcement comes on the heels of a report by the College Board in which some finacial aid experts called the rapid growth of students receiving “private” loans, which carry higher rates and stiffer repayment terms than government-backed loans, as “troubling”. The College Board, a non-profit organization that administers the SAT exam, has found itself in a tailspin this year after repeated blunders.

There’s no shortage of news on the SAT test and college planning. The SAT continues to take a verbal beating from critics who think the ACT is a better admissions test. A New York State senator and longtime antagonist of the College Board used a legislative hearing on Tuesday to urge the SAT’s chief competitor, the ACT, “to be more active in the Northeast”. This follows the recent wave of colleges declaring the SAT an optional test for admission.

In other news, the New York Times reports on the trend of elite colleges jacking up their tuition while simultaneously offering more student financial aid. The report notes that many students and parents associate higher tuition costs with better academic credentials.

Welcome to the first installment of ePrep’s coverage of college financial aid. I am excited to introduce Don Betterton as the site’s most recent guest expert. Don was the director of financial aid at Princeton University for thirty (30) years. During his time at Princeton, aid awards increased from $3.4 million in 1973-74 to $65 million in 2005-06. In this video, Don discusses the simple things you can do now, while your children are young, to help make paying for college easier when they are older and ready to enroll. (more…)

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Neither you nor your parents will be able to ignore the fact that some colleges (including Princeton) are more expensive than others. Nonetheless, I don’t think it is wise to cross any college off your list just because it appears to cost a small fortune to attend. In the first place, (more…)

By either reading the college’s written materials on financial aid or speaking with one of the college’s aid counselors, you should get clear and decisive answers to the following fifteen questions:

1. Can I get an early estimate of the type and amount of aid I might receive?

2. Do I have to fill out a school-specific aid application in addition to the FAFSA?

3. Do you give both need and merit aid or are you a need-only school?

4. If you give merit aid, what are the eligibility standards for your scholarships? (more…)

Thanks again to all our readers – both students and parents – who have rapidly made ePrep.com such a great success!

I am excited to introduce ePrep’s first two guest experts, the esteemed Fred Hargadon and the esteemed Don Betterton. Fred Hargadon served as Dean of Admission at Princeton University, Stanford University and Swarthmore College. He is well known for the personal attention he gave each and every application during his decades of service. Don Betterton served Princeton University as director of financial aid for thirty (30) years. He was the architect of Princeton’s innovative no-loan program. Don is a Certified College Planner who is familiar with every aspect of enrollment management.

Selective colleges require more than good grades high test scores. They require applicants to successfully navigate the oft-complex and ever-changing fields of admissions and financial aid. Both Fred and Don have a unique way of taking difficult subject matter and making it understandable — the hallmark of an ePrep expert.

I am hopeful that Fred and Don will help make your family’s college planning experience one that is truly rewarding. Stay tuned!