How many colleges should your kid apply to? Well, the more the merrier -- within reason (because many have application fees). If your teen only applies to five, he or she may just get into one or two. That's OK, as long as those are definitely the ones he/she really likes. But between the time teens submit applications and hear back from schools, they may have changed their mind a little.
Applying to perhaps 10 or even more colleges will maximize the odds of getting into a bunch of schools that soon-to-be-graduates can get excited about. They'll also be more likely to end up with a selection of schools to choose from. Also worth thinking about is that if applying for financial aid, each school will offer a different package. The more schools applied to, the more packages there will probably be to consider.
Most colleges today have comprehensive websites that cover a broad range of topics, such as campus life, faculty, courses, financial aid, housing, information about the surrounding community, useful addresses, and phone numbers for more information. Make sure you and your child spend time checking them out.
For more info on how you can manage to actually pay for college, visit our College Savings Center. Our Paying for College discussion board is a good place to ask questions you may have, and our book, The Motley Fool's Guide to Paying for School, by Robert Brokamp, is also a handy resource.
Here are some Foolish articles on student loans and paying for college:
- Get Record-Low Rates
- You Can Pay for College
- Advice for College Freshmen
- Starting Late at College Savings
And finally, consider sending any teens you care about to our Teens and their Money nook. Alternatively, consider giving them a copy of The Motley Fool Investment Guide for Teens.
