PREPARING YOUR CHILD FOR COLLEGE 

A Resource Book for Parents 

A NOTE TO PARENTS 

It's never too early to think about college -- about the benefits of a college education and about ways to
put college within reach academically and financially. Throughout their school years, students make
academic and other decisions that affect whether they will be eligible to enter college. You -- working
with others -- can help your child make these decisions wisely. 

This resource book is designed to help you with that process. It will help you work with your child and
with your child's teachers and guidance counselors, to ensure that he or she has the option of going to
college. It will help your child to prepare academically for the rigors of college, and it will help you to
plan financially for the costs of a college education. A good academic record on your child's part and
sound financial planning on your part will help ensure a menu of opportunities when the time comes to
decide about college. Although this book was written primarily as a long-term planning guide for
parents, guidance counselors and teachers will also find it useful and informative. 

This book will help you to 

     Set high expectations for your child's future; 

     Know what college options are available; 

     Plan your finances with college in mind; and 

     Know what financial assistance your child may be eligible to receive. 

To ensure that today's students will be able to live, work, and compete in the 21st century, the U.S.
Department of Education and the Nation's governors set a direction for the Nation by establishing six
national education goals. In brief, the goals state that by the year 2000 

     All children in America will start school ready to learn; 

     The high school graduation rate will improve to at least 90 percent; 

     All children will be competent in at least English, mathematics, science, history, and geography; 

     American students will be first in the world in science and mathematics; 

     Adult Americans will be literate and have the skills necessary to compete in a world economy; 

     And every school in America will be free of drugs and violence. 

As we turn from a "Nation at Risk" to a "Nation on the Move" we must assure that our children and
youth are prepared to meet the challenge of the world economy, the obligation of civic responsibility,
and the responsibility of attaining the national education goals. 

Attaining the national education goals depends greatly on the efforts of the entire community, but
especially you, the parents of our children. In helping your child succeed in high school and aim for
college, you're also helping our Nation produce informed citizens and a competitive work force for the
next decade and beyond. 

Richard W. Riley
U.S. Secretary of Education 

PREPARING YOUR CHILD FOR COLLEGE 

I. General Questions About College 

Why attend college? 
What types of colleges exist?
What kinds of jobs are available to college graduates? 

II. Preparing for College 

What can my child do to prepare academically for college? What can my child do outside the
classroom to prepare for college? 

III. Choosing a College 

How can my child go about choosing a college? 

IV. Financing a College Education 

How much does a college education cost? How can I afford to send my child to college? What are the
most common sources of financial aid? Is my child eligible for financial aid? If so, how much ? Are
there other ways to keep the cost of college down? 

V. Long-Range Planning 

How do I set up a long-range plan? 

VI. Important Terms 

What terms do I need to understand? 

VII. Other Sources of Information 

Where can I get more information on the topics discussed in this handbook? 

Exercises and Checklists for You and Your Child 

Help Your Child Think About a Career 
Course Planner for Parent and Student 
College Inquiries 
College Preparation Checklist for Students Financial Preparation Checklist for Parents 

Charts 

Chart 1: Examples of Jobs Requiring College Preparation Chart 2: High School Courses Recommended
for a Four-Year College
Chart 3: Questions To Ask Guidance Counselors Chart 4: Distribution of College Students by the
Amount of Tuition and Fees Charged 
Chart 5: Typical College
Chart 6: Average Tuition and Fees By Type of College, School Year 1991-1992 
Chart 7: Amount You Would Need To Save To Have $10,000 Available When Your Child Begins
College Chart 8: Examples of Savings Instruments and Investments Chart 9: How Much Need-Based
Financial Aid Can My Child Get? 
Chart 10: Military Postsecondary Education Opportunities 

Why attend college? 

A college degree can provide your child with many opportunities in life. A college education can mean: 

Greater Knowledge 

A college education will increase your child's ability to understand developments in science and in
society, to think abstractly and critically, to express thoughts clearly in speech and in writing, and to
make wise decisions. These skills are useful both on and off the job. 

Greater Potential 

A college education can help increase your child's understanding of the community, the Nation, and the
world--as he or she explores interests, discovers new areas of knowledge, considers lifelong goals, and
becomes a responsible citizen. 

More Job Opportunities 

The world is changing rapidly. Many jobs rely on new technology and already require more brain
power than muscle power. In your child's working life, more and more jobs will require education
beyond high school. With a college education, your child will have more jobs from which to choose. 

More Money 

A person who attends college generally earns more than a person who does not. 

For example, in 1989, a person with a college degree from a four-year college earned approximately
$10,000 more in that year than a person who did not go to college. With a college education, your child
can earn higher pay. 

Some of these benefits of college may not be obvious to your child. Even though he or she has to make
the final decision to attend college, you can help in the decision-making process by learning about all
aspects of college yourself and sharing what you learn with your child. 

What types of colleges* exist? 

     Throughout this document, the term "college" is used to refer to all collegiate institutions--both
     colleges and universities. 

More than half of all recent high school graduates in the United States have had some type of
postsecondary education. In many other countries, a smaller percentage of students go on for more
schooling after high school. One reason so many U.S. students seek postsecondary education is that
American students have a wide choice of colleges to consider. For this reason, your child is likely to
find a college well-suited to his or her needs. 

There are two basic types of colleges that offer academic programs: 

Two-Year Colleges 

These schools offer two-year programs leading to a certificate, an associate of arts (A.A.) degree, an
associate of science (A.S.) degree, or an associate of applied science (A.A.S.) degree. 

Four-Year Colleges and Universities 

These schools usually offer a bachelor of arts (B.A.) or bachelor of science (B.S.) degree. Some also
offer graduate and professional degrees. 

Two-Year Colleges 

For students who want a practical education aimed at a specific career in such areas as bookkeeping,
dental hygiene, etc., a two-year program is probably the answer. In many cases, two-year degrees can
be transferred to four-year schools and credited toward a B.A. or B.S. degree. Two-year programs
vary from school to school, but, in general, are offered by: 

Junior Colleges: These are generally private institutions, some of which are residential and attended by
students who may come from other parts of the country; and 

Community Colleges: These are public institutions, mostly serving people from nearby communities.
Public institutions are supported by state and local revenues. 

Many junior and community colleges offer technical/vocational training, as well as academic courses.
Many offer such programs in cooperation with local businesses, industry, public service agencies, or
other organizations. 

Two-year colleges often operate under an "open admissions" policy, which can vary from school to
school. At some institutions, "open admissions" means that anyone who has a high school diploma or
GED certificate can enroll. At other schools, anyone over 18 years of age can enroll or, in some cases,
anyone deemed able to benefit from the programs at the schools can enroll. 

Application requirements at some two-year colleges may include a high school transcript--a list of all
the courses your child took and grades earned in four years of high school--and college entrance
examination scores as well. Some schools have programs that allow "open admissions," while other
programs in the same school--particularly in scientific or technical subjects--may have further
admission requirements. Since requirements vary widely, it is important to check into schools and
programs individually. 

Four-Year Colleges and Universities 

Students who wish to pursue a general academic program usually choose a four-year college or
university. Such a program lays the foundation for more advanced studies and professional work.
Four-year colleges and universities offer bachelor's degrees (the B.A. and B.S.)in most areas in the
arts and sciences, such as English literature, foreign languages, history, economics, political science,
biology, zoology, chemistry, and in many other fields. 

Here are the main differences between four-year colleges and universities: 

Four-Year Colleges: These are postsecondary schools that provide four-year educational programs in
the arts and sciences. These colleges confer bachelor"s degrees. 

Universities: These are postsecondary schools that include a college of arts and/or sciences, one or
more programs of graduate studies, and one or more professional schools. Universities confer
bachelor's degrees and graduate and professional degrees. 

When a student earns a bachelor's degree it means that he or she has passed examinations in a broad
range of courses and has studied one or two subject areas in greater depth. (These one or two subject
areas are called a student's "major" area(s) of study or area(s) of "concentration.") A bachelor's
degree is usually required before a student can begin studying for a graduate degree. A graduate
degree is usually earned through two or more years of advanced studies beyond four years of college.
This might be a master's or a doctoral degree in a particular field or a specialized degree required in
certain professions such as law, social work, architecture, or medicine. 

What kinds of jobs are available to college graduates? 

Certificates and degrees earned by graduates of two- and four-year colleges or universities usually
lead to different kinds of professional opportunities. Many professions require graduate degrees beyond
the traditional four-year degree, such as a medical degree or a law degree. For example: 

A course of study in bookkeeping at a community college generally prepares a student for a Job as a
bookkeeper. 

A four-year degree in economics may prepare a student for any one of several Jobs in a bank or a
business. 

A four-year degree in English may serve as background for getting teacher certification in the subject
or for being an editor with a magazine. 

In Chart 1 below there is a partial listing of different occupations and the educational background
generally required for each. Some people who go on to acquire Jobs in the four-year-college column
obtain a graduate degree or some graduate education, but many of these Jobs can be filled by people
who do not have more than a four-year college education. For more information on the educational
requirements of specific jobs, contact a guidance counselor or check the Occupational Outlook
Handbook in your library. (See the last section of this handbook for information on this book arid other
publications that discuss jobs.) 

CHART I 

Examples of Jobs Requiring College Preparation 

Two-Year College
(Associate's Degree) 

Electrician
Drafter
Dental Hygienist
Emergency Medical Technician
Computer Service Technician
Bookkeeper
Commercial Artist
Film Technician
Medical Illustrator 

Four-Year College
(Bachelor's Degree) 

Accountant
Teacher
Registered Nurse
Engineer
Journalist
Diplomat
Insurance Agent 

More Than Four
Years of College
(Various Graduate
Degrees Required) 

Lawyer
Doctor
Architect
Scientist
University Professor
Economist
Psychologist
Sociologist
Dentist 

EXERCISE 

Help Your Child Think About a Career 

Step 1: 

Using the form on the next page, sit down with your child and make a list of jobs that sound interesting.
It may help to first think about friends or people you've read about or have seen on television who have
interesting jobs. List those jobs in the left-hand column. If your child cannot think of interesting jobs,
have him or her list subject areas of interest. Then try to help your child identify jobs in those subject
areas. Depending on the job, there may be courses in middle school or high school that will give your
child a preview of the type of knowledge that is needed for the particular job. In the right-hand
"Education" column, write down the level of education required for the job and any high school or
college courses that may help your child prepare for such a career. 

Step 2: 

Take the form to your local library and, with the help of a reference librarian, locate books on some of
the careers your child has selected. Libraries usually have directories that list career requirements. It is
not a problem if your child does not know what career path he/she wants to follow; his or her focus
during these years should be on doing well in school. 

(SEE FORM ON NEXT PAGE.) 

[Form Omitted] 

What can my child do to prepare academically for college? 

To prepare for college, there is no substitute for your child getting a solid academic education. This
means your child should take challenging courses in academic subjects and maintain good grades in
high school. Your child's transcript will be an important part of his or her college application. 

A college education builds on the knowledge and skills acquired in earlier years. It is best for your child
to start planning a high school course schedule early, in the seventh or eighth grade. Students who don't
think ahead may have difficulty completing all the required or recommended courses that will help them
qualify for college. 

Most selective colleges (those with the highest admissions requirements) prefer to admit students who
have taken courses in certain subject areas. For example, many colleges prefer that high school
students take algebra, geometry, or some other type of specialized math, rather than general math.
Some colleges prefer three or four years of a foreign language. Your child's guidance counselor can
help your child determine the high school courses required or preferred by different types of colleges.
If your child is interested in specific colleges, he or she can contact those schools and ask about their
admissions requirements. 

Your child should take courses in at least these core areas: 

     English 

     mathematics 

     science 

     history and geography 

A foreign language and computer science are also highly recommended. 

Chart 2 lists the high school courses that many higher education associations and guidance counselors
recommend for a college-bound student. These courses are especially recommended to students who
want to attend a four-year college. Even if your child is interested in attending a two-year college, he
or she should take most of these courses since they provide the preparation necessary for all kinds of
postsecondary education. 

If your child is interested in pursuing a vocational program in a two-year college, he or she may want to
supplement or substitute some of the courses listed in the chart with some vocational or technical
courses in his or her field of interest. Your child should take at least the suggested courses in the core
areas of English, math, science, history, and geography. 

Traditional English courses such as American and English literature will help students improve their
writing skills, reading comprehension, and vocabulary. History and geography will help your child better
understand our society as well as societies around the world. 

Mathematical and scientific concepts and skills learned in math classes are used in many disciplines
outside of these courses. A recent study showed that students who take algebra and geometry in high
school are much more likely to go on to college than students who do not. Algebra and geometry are
also essential preparation for the college entrance examinations--the SAT (Scholastic Aptitude Test) or
the ACT Assessment. 

These tests measure a student's aptitude in mathematical and verbal comprehension and problem
solving. Students applying to colleges in the East and West usually take the SAT exam. Students
applying to schools in the South and Midwest often take the ACT. (However, students should check
the admission requirements at each school to which they are applying.) Usually, the tests are offered in
the Junior and senior years of high school and can be taken more than once if a student wishes to try to
improve his or her score. Students can get books at libraries or bookstores to help them to prepare for
all of the tests. Some of these books are listed at the back of this resource book. In addition, some
private organizations and companies offer courses that help students prepare for these exams. 

CHART 2 

High School Courses Recommended for a Four-Year College 

Although academic requirements differ across colleges, the admissions requirements listed below are
typical of four-year colleges. The specific classes listed here are examples of the types of courses
students can take. 

English -- 4 years 

Types of classes: 

composition
American literature
English literature
World literature 

Laboratory Science -- 2 to 3 years 

Types of classes: 

biology
earth science
chemistry
physics 

Mathematics -- 3 to 4 years 

Types of classes: 

algebra I
algebra II
geometry
trigonometry
precalculus
calculus 

Foreign Language -- 2 to 3 years 

Types of classes: 

French
German
Spanish
Latin
Russian
Japanese 

History & Geography -- 2 to 3 years 

Types of classes: 

geography
U.S. history
U.S. government
world history
world cultures 

Visual & Performing Arts -- 1 year 

Types of classes: 

art
dance
drama
music 

Appropriate Electives -- 1 to 3 years 

Types of classes: 

economics
psychology
statistics
computer science
communications 

Many schools offer the Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying
Test (PSAT/NMSQT) to their students. This is a practice test that helps students prepare for the
Scholastic Aptitude Test (SAT). The PSAT is usually administered to tenth or eleventh grade students.
A student who does very well on this test and who meets many other academic performance criteria
may qualify for the National Merit Scholarship Program. You and your child can find out more about
the PSAT/NMSQT and the National Merit Scholarship Program by talking to your child's guidance
counselor or by calling or writing to the number or address provided in the back of this handbook. 

Some colleges also require that an applicant take one or more Achievement Tests in major areas of
study. It is a good idea for a student to consult a guidance counselor about this early in high school;
often the best time to take an Achievement Test is right after the student has taken a course in that
subject. For example, many students take the Biology Achievement Test right after they have
completed a course in biology. This could mean that your child would take his or her first Achievement
Test as a freshman or sophomore in high school. 

At the back of this handbook, in the section that lists places where you can get additional information,
you will find the address and phone number where you can write or call for more information about the
SAT and the Achievement Tests. You will also find the address and phone number for the organization
that administers the ACT. 

Knowing what will be required for college is important; by taking the right courses and examinations
from the beginning of high school, your child may avoid admission problems later on. In addition,
students who do not prepare well enough academically in high school, if admitted to college, may be
required to take remedial courses. Most colleges do not offer credit for these courses, and students
may have to pay for these extra courses and spend extra time in college to earn their degrees. Chart 3
lists some questions that you or your child may want to ask your child's guidance counselor. 

CHART 3 

Questions To Ask Guidance Counselors 

     What basic academic courses do they recommend for students who want to go to college? 

     How many years of each academic subject does the high school require for graduation? 

     What elective courses do they recommend for college-bound students? 

     How does a student go about completing recommended courses before graduating from high
     school? 

     Can students who are considering college get special help or tutoring? 

     What activities can students do at home and over the summers to strengthen their preparation
     for college? 

     How much homework is expected of students preparing for college? 

     What kinds of high school grades do different colleges require? 

Course Planner for Parent and Student 

This exercise will give you and your child a chance to look ahead and choose future courses, but be
aware that some courses must be taken in sequence. On the form below, list your child's current
courses or courses he or she will take this year. Then list courses that he or she will take during each
year of high school. If you are not sure what courses your child should take, you should make an
appointment with your child's guidance counselor and get some advice. 

[Form Omitted] 

[Form Omitted] 

[Form Omitted] 

What can my child do outside the classroom to prepare for college? 

Interpersonal and leadership skills, interests and goals are all important for college preparation.
independent reading and study, extracurricular activities, and work experience will all help your child
develop his or her skills, interests, and goals. 

Independent Reading and Study 

Independent reading and study will help your child to prepare academically for college. This is a good
way to develop interests, expand knowledge, and improve vocabulary and reading comprehension skills
needed for college and the SAT or ACT. Encourage your child to read all kinds of books for
fun--fiction and non-fiction. The school library and the local public library are good sources of books,
magazines, and newspapers. 

Extracurricular Activities 

Many school, community, and religious organizations enable high school students to explore their
interests and talents by providing activities outside the classroom. Colleges are often interested in a
student's extracurricular activities such as school clubs, the student newspaper, athletics, musical
activities, arts, drama, and volunteer work, especially if a student has excelled in one or more of these
areas. 

Work Experience 

Work experience--paid or volunteer--can teach students discipline, responsibility, reliability, teamwork,
and other skills. Some students tutor elementary school children or fellow students in a subject they
have mastered themselves. Others help the disadvantaged or volunteer in hospitals. Many colleges are
interested in knowing about this type of experience. 

A summer job is a good way to gain experience and earn money for college as well. If your child
works during the school year, he or she should not work so many hours that the job interferes with
school work. 

Creating a Good Place To Study 

Your child needs a quiet and comfortable place to study. Here are a few things that you can do: 

(1) Help him or her find a quiet place with some privacy. 

(2) Set up a desk or large table with good light and place reference books such as a dictionary on the
desk or nearby. 

(3) Make sure your child studies there on a regular basis. 

How can my child go about choosing a college? 

Colleges are located in big cities, suburbs, and small towns throughout the country. Some enroll tens of
thousands of students; others enroll only a few hundred. Some are public; others are private. Some
private institutions are affiliated with religious institutions; others are not. Some schools enroll only
women, others only men. 

The type of institution best suited to your child depends on his or her individual needs and talents. Your
child can begin focusing on the choice of a college by considering the following questions: 

     Why do I want to go to college? 

     What do I hope to achieve in college? 

     Do I have some idea of what I want to study or for which job I want to prepare? 

     Do I want to live at home or go away to school? 

     Do I prefer an urban or suburban environment? 

     Would I be happier in a small college or at a large university? 

In order to choose a college, you and your child should ask the following questions about the nature and
qualify of the schools in which your child has an interest. 

The Nature of the Education Offered 

     What is the philosophy of the particular college and what kinds of educational programs does
     this college offer? 

Ask about the college's specialties, which types of classes the school offers, and in which fields
students can earn a degree or certificate. How many students study in each area, and what do they do
when they graduate? 

     How long does it take to earn a certificate or degree at this college? 

Students should know how much time it takes to complete a program before they enroll in it. Programs
can last anywhere from a few months to several years. Also ask whether the time involved reflects
full-time or part-time attendance. 

     What do students do when they graduate from this school? Do they get jobs in the areas that
     they were trained for? Do they pursue further education? 

Job placement rates are particularly important for vocational programs. If a very low percentage of
students are employed in their area of training a year after completing the program, there may be a
problem. It can also be useful to ask about beginning salaries of program graduates and the institution's
career advising and placement services for its students. 

Students who enroll in two-year colleges plans to transfer to four-year colleges should inquire about the
possibility of doing so and about the number of graduates who transfer each year. Students applying to
four-year colleges may want to know how many graduates go on to graduate or professional
education. 

The Quality of the College 

     How many students who start at this school earn a certificate or degree? How many drop out? 

A high drop-out rate may suggest that students are dissatisfied with the education an institution
provides. Be particularly careful about having your child enroll in a school that graduates a very low
percentage of its students. Also ask about tuition refund policies for students who drop out in the first
weeks of an educational program. 

     What is the default rate at this college? Do students repay their loans? 

The default rate is the percentage of students who took out student loans to help pay their expenses but
did not repay them properly. A high default rate may suggest that students who borrowed never
completed their educational program, or that they were unable to find jobs and repay the loans when
they graduated. Colleges with consistently high default rates may be barred from student loan
programs, and students attending these institutions may thus be ineligible for Federal loans. 

     Have other students who have gone to this college liked it? What has their experience been? 

Colleges should be able to refer you to current students or recent graduates of their programs. These
individuals can give you their opinion about classes, facilities, the faculty (teachers), and the skills they
have learned. 

     What kinds of facilities does this college have? Are they adequate for my child's needs? 

You and your child should consider the condition of classrooms, libraries, and dormitories when
choosing a college. The types of facilities appropriate for a college depend on the type of education
provided. For example, a college offering classes in the sciences should have modern laboratories, and
an institution that offers computer education classes should have adequate computer facilities. 

Admissions Requirements and Financial Aid 

     What admissions requirements does this college have? 

Each institution can require students to take certain high school classes and submit certain items with
their applications. Make sure you know what is required by the schools that interest your child. 

     Is this college accredited by an agency recognized by the Secretary of Education and eligible to
     participate in Federal student aid programs? 

Federal financial aid is available only to students attending eligible institutions. Students attending other
institutions cannot receive Federal financial aid. If you are interested in having your child apply for
Federal financial aid, be wary of unaccredited institutions and those with high default rates. You can
call the Federal Student Financial Aid Information Center toll-free to find out if a particular college is
an eligible institution. The number is 1-800-4FED-AID. 

EXERCISE 

College Inquiries 

Using the form on the next page, help your child list the colleges he/she knows about and might be
interested in attending. Write down whether they are two-year or four-year colleges or universities.
Ask your child why these schools are appealing to him or her. You and your child may want to contact
the colleges to get more information. 

[Form Omitted] 

How much does a college education cost? 

Many people overestimate the cost of college or believe that all schools are expensive. For example, a
recent Gallup survey indicated that 13- to 21-year-olds overestimated the average cost of public two-
and four-year colleges by more than three times the actual figure. The same group estimated that the
costs of private four-year colleges were one-third higher than they actually were. 

Although some colleges are expensive, costs vary from institution to institution. In addition, the
availability of financial aid--money available from various sources to help students pay for college--can
make even an expensive college affordable for a qualified student. 

College Costs 

The basic costs of college are tuition, fees, and other expenses: 

     Tuition 

Tuition is the amount of money that colleges charge for instruction and for the use of some facilities,
such as libraries. Tuition can range from a few hundred dollars per year to more than $18,000.
However, there are a few institutions that don't charge any tuition at all. As shown in Chart 4, most
students attend colleges that charge less than $3,000 per year for tuition. This occurs because over
three-quarters of students attend public institutions whose tuitions are much lower than those of private
institutions. 

[Graphic Omitted] 

     Fees 

Fees are charges (usually small) that cover costs generally not associated with the student's course
load, such as costs of some athletic activities, student activities, clubs, and special events. 

     Other Expenses 

Besides tuition and fees, students at most colleges and universities pay for room, board, books, supplies,
transportation, and other miscellaneous costs. "Room and board" refers to the cost of housing and food.
Typical college costs are listed in Chart 5 below. 

CHART 5 

Typical College Costs 

Tuition          Books
Fees             Supplies
Room             Transportation
Board            Miscellaneous Expenses

Tuition at Public and Private Colleges 

It is important to know the difference between public and private institutions. A school's private or
public status has a lot to do with its tuition. 

     Public Institutions 

Over three-quarters of all students in two- and four-year colleges attend State or other public colleges.
Since these schools receive a large proportion of their budgets from State or local government, they
can charge students who live in that State (in-state students) relatively low tuition. Students from other
States (out-of-state students) usually pay higher tuition. 

In 1991-92, in-state students attending public four-year colleges faced an average tuition and fees of
$2,137 per year. in-state students at public two-year colleges faced an average tuition and fees of
$1,022 per year in 1991-92. 

If the costs of room, board, books, supplies, and transportation are added to tuition and fees, the
average total cost of attending a public four-year college was $6,437 in 1991-92. Since many students
who attend two-year public schools live at home, the average total cost of attending a two-year public
college in 1991-92 was $2,404. This includes the cost of tuition, fees, books, supplies, and transportation
for a commuter student. 

     Private Institutions 

Private (sometimes called "independent") institutions charge the same tuition for both in-state and
out-of-state students. Private college tuitions tend to be higher than those of public colleges because
private schools receive less financial support from States and local governments. 

Most private colleges are "non-profit." Other private postsecondary schools-mostly vocational and
trade schools--are "proprietary." Such institutions are legally permitted to make a profit. Students at
private colleges in 1991-92 faced an average tuition and fees of $10,017 per year at four-year colleges
and $5,290 per year at two-year non-profit colleges. 

If the costs of room, board, books, supplies, and transportation are added to tuition and fees, the
average total cost of attending a private four-year college was $15,381 in 1991-92. If these same kinds
of costs are added to the tuition and fees of a two-year private college, the average total cost of
attending such a school was $10,019 in 1991-92. 

Chart 6 below shows the average tuition and fees faced by students at four different kinds of colleges
in school year 1991-92. 

Future College Costs 

By the time your child is ready to attend college, the tuition, fees, and costs of room, board, and other
expenses will be larger than the amounts discussed in this handbook. Because there are many factors
that affect the costs of a college education, it is impossible to know exactly how much colleges will
charge when your child is ready to enroll. Be cautious when people tell you a particular amount; no one
can be sure how much costs will change over time. In addition, as college costs increase, the amount
of money you earn, and thus the amount you will have available to pay for college, will also rise. 

[Graphic Omitted] 

How can I afford to send my child to college? 

Saving money in advance and obtaining financial aid are common ways for parents to make their
child's education affordable. Other ways of making college affordable, such as attending college part
time, will be discussed later in this handbook. (See the section beginning on page 32.) 

Saving Money 

Saving money is the primary way to prepare for the costs of college. Setting aside a certain amount
every month or each payday will help build up a fund for college. If you and your child begin saving
early, the amount you have to set aside each month will be smaller. 

In order to set up a savings schedule, you'll need to think about where your child might attend college,
how much that type of college might cost, and how much you can afford to save. Keep in mind that
colleges of the same type have a range of costs and your child may be able to attend one that is less
expensive. You can also pay part of the costs from your earnings while your child is attending school.
In addition, your child may also be able to meet some of the costs of college by working during the
school year or during the summer. Finally, some Federal, State, or other student financial aid may be
available, including loans to you and to your child. 

You will also want to think about what kind of savings instrument to use or what kind of investment to
make. By putting your money in some kind of savings instrument or investment, you can set aside small
amounts of money regularly and the money will earn interest or dividends. Interest refers to the amount
that your money earns when it is kept in a savings instrument. Dividends are payments of part of a
company's earnings to people who hold stock in the company. 

A savings instrument has an "interest rate" associated with it; this refers to the rate at which the money
in the instrument increases over a certain period of time. Principal refers to the face value or the
amount of money you place in the savings instrument on which the interest is earned. 

Chart 7 shows how much you would need to save each month in order to have $10,000 available when
your child begins college. As the chart demonstrates, the amount varies depending on the interest rate
you obtain and the number of years that you save. The higher the interest rate and the earlier you begin
to save, the less you need to set aside each month. 

For example, if you start saving when your child is born, you will have 18 years to save. As shown on
the chart, each month you will only have to deposit $32 in an account earning 4 percent interest in
order to save $10,099 by the time your child is 18. However, if you use the same savings instrument
but do not start to save until your child is 16, you will have to save $401 each month. In addition, if you
use the instrument with the higher interest rate--8 percent--you will only have to put away $21 each
month starting when your child is born. 

Remember, by starting to save early and by using instruments with higher interest rates, you can put
aside smaller amounts. If you wait until later to start saving, you may not be able to afford to put away
the larger amounts of money needed to meet your savings goals. 

CHART 7 

Amount You Would Need To Save To Have $10,000 Available When Your Child Begins College 

Amount Available When Child Begins College 

If you start Number
saving when of years Monthly 
your child saving Savings Principal Earned Savings 

(Assuming a 4 percent interest rate.) 

Newborn 18 $32 $6,912 $3,187 $10,099 

Age 4 14 45 7,560 2,552 10,112 

Age 8 10 68 8,160 1,853 10,013 

Age 12 6 124 8,928 1,144 10,072 

Age 16 2 401 9,624 378 10,002 

(Assuming an 8 percent interest rate.) 

Newborn 18 $21 $4,536 $5,546 $10,082 

Age 4 14 33 5,544 4,621 10,165 

Age 8 10 55 6,660 3,462 10,062 

Age 12 6 109 7,848 2,183 10,031 

Age 16 2 386 9,264 746 10,010 

When deciding which type of savings instrument or Investment is right for you and your family, you
should consider four features: 

     Risk: The danger that the money you set aside could be worth less in the future. 

     Return: The amount of money you earn on the savings instrument or investment through interest
     or dividends. 

     Liquidity: How quickly you can gain access to the money in the instrument or investment. 

     Time Frame: The number of years you will need to save or invest. 

When you select one or more savings instruments or investments, you should balance these factors by
minimizing the risk while maximizing the return on your money. You will also want to be sure that you
will be able to access the money at the time you need to pay for your child's education. 

If you start early enough, you may feel confident about making some long-term investments. Some
investments are riskier than others but can help you earn more money over time. Chart 8 lists some of
the major kinds of savings instruments and investments that you may want to use. You can get more
information on these and other savings instruments at local banks and at your neighborhood library. 

Don't forget that you won't necessarily have to save for the entire cost of college. The following
section tells about student financial aid for which you and your child might qualify and other ways to
keep college costs down. 

[Graphic Omitted] 

Financial Aid 

Financial aid can help many families meet college costs. Every year millions of students apply for and
receive financial aid. In fact, almost one-half of all students who go on for more education after high
school receive financial aid of some kind. In school year 1990-91, postsecondary students received
about $28 billion in financial aid. 

There are three main types of financial assistance available to qualified students at the college level: 

     Grants and Scholarships; 

     Loans; a 

     Work-Study. 

          Grants and Scholarships 

Grants and scholarships provide aid that does not have to be repaid. However, some require that
recipients maintain certain grade levels or take certain courses. 

     Loans 

Loans are another type of financial aid and are available to both students and parents. Like a car loan
or a mortgage for a house, an education loan must eventually be repaid. Often, payments do not begin
until the student finishes school, and the interest rate on education loans is commonly lower than for
other types of loans. For students with no established credit record, it is usually easier to get student
loans than other kinds of loans. 

There are many different kinds of education loans. Before taking out any loan, be sure to ask the
following kinds of questions: 

     What are the exact provisions of the loan? 

     What is the interest rate? 

     Exactly how much has to be paid in interest? 

     What will the monthly payments be? 

     When will the monthly payments begin? 

     How long will the monthly payments lost? 

     What happens if you miss one of the monthly payments? 

     Is there a grace period for paying bock the loan? 

In all cases, a loan taken to pay for a college education must be repaid, whether or not a student
finishes school or gets a job after graduation. Failure to repay a student loan can ruin a person's credit
rating and make finances much more difficult in the future. This is an important reason to consider a
college's graduation and job placement rates when you help your child choose a school. 

     Work-Study Programs 

Many students work during the summer and/ or part time during the school year to help pay for
college. Although many obtain jobs on their own, many colleges also offer work-study programs to
their students. A work-study job is often part of a student's financial aid package. The jobs are usually
on campus and the money earned is used to pay for tuition or other college charges. 

The types of financial aid discussed above can be merit-based, need-based, or a combination of
merit-based and need-based. 

     Merit-based Financial Aid 

Merit-based assistance, usually in the form of scholarships or grants, is given to students who meet
requirements not related to financial needs. For example, a merit scholarship may be given to a student
who has done well in high school or one who displays artistic or athletic talent. Most merit-based aid is
awarded on the basis of academic performance or potential. 

     Need-based Financial Aid 

"Need-based" means that the amount of aid a student can receive depends on the cost of the college
and on his or her family's ability to pay these costs. Most financial aid is need-based and is available to
qualified students. 

What are the most common sources of financial aid? 

Student financial aid is available from a number of sources, including the Federal Government, State
governments, colleges and universities, and other organizations. Students can receive aid from more
than one source. 

     Federal Financial Assistance 

The Federal Government supplies the largest amount of all student aid, about 75 percent or $20 billion
annually. The largest and most popular Federal student aid programs are: 

     Federal Pell Grants 

These are need-based grants that will be given to over 4 million students for school year 1992-93. In
school year 1992-93, the maximum Pell Grant will be $2,400. 

     Federal Stafford Loans 

Starting in October 1992 there will be two Stafford loan programs-one need-based program and
another non-need-based. In 1992 approximately 4 million students will receive Stafford Loans. 

Under the need-based program, the Federal Government pays interest on the loan while the student is
in school and the student starts paying back the loan and the interest after graduation. 

Under the non-need-based loan program, the interest accrues while the student is in school. After
graduation the student must pay back the loan and the interest on the loan, including the interest that
accrued while the student was in school. 

Under the Stafford loan programs, the combined loan limits are $2625 for the first year, $3500 for the
second year, $5500 for the third or more years. An undergraduate cannot borrow more than a total of
$23,000. 

In addition to Federal Stafford Loans for students, two other Federal loan programs are available
through which students or their parents can borrow funds to attend school. 

     Federal Campus-Based Programs 

The Federal Government also provides money to colleges to give to needy students. There are three
Campus-Based programs--a grant program (Supplemental Educational Opportunity Grants or SEOGs),
a loan program (Perkins Loans), and the College Work-Study Program. 

Students can get aid from more than one Federal program. For the most up-to-date information about
student aid supplied by the Federal Government, call the Federal Student Financial Aid Information
Center toll-free at the U.S. Department of Education at 1-800-4FED-AID. You can also obtain a guide
to Federal financial aid for students, called The Student Guide, which provides an extensive and
updated discussion of all Federal student aid programs. You can obtain the Guide by writing to the
following address: 

Federal Student Aid Information Center
P.O. Box 84
Washington, D.C. 20044 

Call: 1-800-4FED-AID 

     State Financial Assistance 

States generally give portions of State budgets to public colleges and universities. This support lowers
tuition for all students attending these schools. Some States also offer financial assistance directly to
individual students, which can be need-based or merit-based. To find out about State aid where you
live, call or write your State's higher education agency. The phone numbers and addresses of all of
these agencies are listed in the last section of this handbook. 

     College/University Assistance 

Colleges themselves provide aid to many of their students. Most of this "institutional aid" is in the form
of scholarships or grants. Some is need-based and some is merit-based. 

When your child wants financial aid information about specific schools, he or she should contact the
financial aid offices of these schools and request information. 

     Other Types of Assistance 

Other organizations, such as corporations, labor unions, professional associations, religious
organizations, and credit unions, sometimes award financial aid. You can find out about the availability
of such scholarships by contacting someone from the specific organization or by directly contacting its
main headquarters. 

In addition, some organizations, particularly foundations, offer scholarships to minorities, women, and
disabled students. To learn more about such scholarships, go to the nearest public library with a good
reference section and look for directories that list such scholarships. (The names of a few books that
list scholarships appear in the last section of this handbook.) College admissions offices and high school
guidance counselors should also be able to provide more information about scholarships. 

     Help in Getting More Information 

The guidance counselors at your child's high school should be able to provide information on when and
how to apply for Federal, State, and other types of aid. If they cannot give you this information, try a
local college. Even if your child doesn't plan to attend that particular institution, financial aid officers
there should have information on Federal financial aid. Many colleges can also tell you about State aid
and their own institutional aid. 

Is my child eligible for financial aid? If so, how much? 

To qualify for Federal aid, you or your child must submit a financial aid application. Applications for
financial aid request information about your family's income, savings, and assets, as well as information
on the number of children in the family who are in college. You can get a copy of the Federal financial
aid form by calling the toll-free number that was mentioned earlier: 1-800-4FED-AID. 

To apply for other aid in addition to Federal aid, you may need additional forms. High school guidance
counselors can tell you more about applying for financial aid, including where to get forms you might
need for State aid. 

From information you report on the financial aid forms, your expected family contribution (EFC) is
calculated. The EFC is the amount of money a student and his or her family are expected to contribute
to the costs of attending college. Using the EFC and other information that you provide, each college to
which you apply will determine your financial need. Financial need equals the cost of education minus
the EFC and represents the maximum amount of need-based aid the student can receive. In addition,
students can borrow money to cover the EFC. 

Because financial aid determinations consider both financial need and education costs, you should not
rule out a school because you think it costs too much. In fact, with financial aid it may cost no more to
attend an expensive institution than a cheaper one. Chart 9 below summarizes the simple calculation
that is performed to determine financial need. 

CHART 9 

How Much Need-Based Financial Aid Can My Child Get? 

The amount of need-based financial aid a student qualifies for depends on his or her financial need.
Financial need is equal to the cost of education (estimated costs for college attendance and basic living
expenses) minus the family contribution (the amount a student's family is expected to pay, which varies
according to the family's financial resources). 

Expected 

Cost of                Family                  Financial
Education            Contribution                Needs

Includes costs 
of 

Tuition                                    Students can receive
Fees              Based on the financial   up to this amount of
Room           -  resources of a student = need-based financial
Board             and his or her family    aid, such as Pell
Books Supplies                             Grants and Stafford
Transportation                             Loans.

To give you a better idea of how you can finance your child's college education, examples of two
college students' financial aid packages are shown below. Note that these financial aid packages are
Just examples of the kinds of packages that students with these profiles would receive if they attended
the schools described below. 

PROFILE 1 -- FIRST STUDENT 

I. Student's Background 

Family Income ....................................$12,000
Family Size.............................................4
Number of Family Members in College ....................1

II. Characteristics of the College That Student Would Like To Attend and Student's Financial Aid
Package at That College 

   1.A 2-Year Public College. Total cost of attending this college comes to $4,000.* 

Student's Financial Aid Package at This College: 

Total Cost of Education ..........................$4,000
Expected Family Contribution (EFC) Parents............$0
Student**(from summer job savings) .................$700

Financial Need....................................$3,300

For this student, the total cost of education is $4,000. When you subtract the EFC, the financial need is
$3,300. Therefore, the financial aid package below was offered to the student. 

Example of Financial Aid Package: 

Financial Need....................................$3,300 

Pell Grant.........................................2,400
SEOG***..............................................400
State Aid............................................500

Total Financial Aid ..............................$3,300

B. A 4-Year Public College. Total cost of attending this institution comes to $6,500.* 

Student's Financial Aid Package at This College: 

Total Cost of Education ..........................$6,500
Expected Family Contribution (EFC) Parents............$0
Student** (from summer job savings) ...............$ 700

Financial Need....................................$5,800

For this student, the total cost of education is $6,500. When you subtract the EFC, the financial need is
$5,800. Therefore, the financial aid package below was offered to the student. 

Example of Financial Aid Package: 

Financial Need....................................$5,800 

Pell Grant.........................................2,400
SEOG***..............................................600
Work-Study...........................................800
Perkins Loan****...................................1,000
State Aid..........................................1,000

Total Financial Aid ..............................$5,800

C. A 4-Year Private College. Total cost of attending this institution comes to $15,200.* 

Student's Financial Aid Package at This College: 

Total Cost of Education .........................$15,200
Expected Family Contribution (EFC) Parents............$0
Student** (from summer job savings) ...............$ 700

Financial Need ..................................$14,500

For this student, the total cost of education is $15,200. When you subtract the EFC, the financial need
is $14,500. Therefore, the financial aid package below was offered to the student. 

Example of Financial Aid Package: 

Financial Need ..................................$14,500 

Pell Grant.........................................2,400
SEOG***............................................1,000
Work-Study.........................................1,200
Perkins Loan****...................................1,000
Stafford Loan......................................1,500
State Aid..........................................1,400
Institutional Aid..................................6,000

Total Financial Aid .............................$14,500

PROFILE 2 -- SECOND STUDENT 

I. Student's Background 

Family Income .........................................$32,000
Family Size..................................................4
Number of Family Members in College ........................ 1

II. Characteristics of the College That Student Would Like To Attend and Student's Financial Aid
Package at That College 

   1.A 2-Year Public College. Total cost of attending this college comes to $4,000.* 

Student's Financial Aid Package at This College: 

Total Cost of Education ..........................$4,000
Expected Family Contribution (EFC) Parents........$1,500
Student** (from summer job savings) ...............$ 700

Financial Need ...................................$1,800

For this student, the total cost of education is $4,000. When you subtract the EFC, the financial need is
$1,800. Therefore, the financial aid package below was offered to the student. 

Example of Financial Aid Package: 

Financial Need ...................................$1,800 

Pell Grant...........................................700
SEOG*** .............................................500
Work-Study...........................................600

Total Financial Aid ..............................$1,800

B. A 4-Year Public College. Total cost of attending this institution comes to $6,500.* 

Student's Financial Aid Package at This College: 

Total Cost of Education ..........................$6,500
Expected Family Contribution (EFC) Parents .......$1,500
Student** (from summer job savings) ...............$ 700

Financial Need ...................................$4,300

For this student, the total cost of education is $6,500. When you subtract the EFC, the financial need is
$4,300. Therefore, the following financial aid package was offered to the student. 

Example of Financial Aid Package: 

Financial Need ...................................$4,300 

Pell Grant ...........................................700
SEOG***...............................................600
Work-Study..........................................1,400
Stafford Loan.......................................1,000
State Aid.............................................600

Total Financial Aid ...............................$4,300

C. A 4-Year Private College. Total cost of attending this institution comes to $15,200.* 

Student's Financial Aid Package at This College: 

Total Cost of Education .........................$15,200
Expected Family Contribution (EFC) Parents .......$1,500
Student** (from summer job savings) ................$700

Financial Need ..................................$13,000

For this student, the total cost of education is $15,200.* When you subtract the EFC, the financial need
is $13,000. Therefore, the financial aid package below was offered to the student. 

Example of Financial Aid Package: 

Financial Need ..................................$13,000 

Pell Grant............................................700
SEOG***.............................................1,200
Work-Study..........................................1,500
Perkins Loan****....................................2,000
Stafford Loan.......................................2,500
State Aid.............................................800
Institutional Aid...................................4,300

Total Financial Aid ..............................$13,000

     This "total cost" includes tuition, fees, room, board, books, supplies, and transportation. 

          The student worked during two summer vacations while in high school and saved $700
          for college. 

               An SEOG is a Supplemental Educational Opportunity Grant--which is a Federal
               award that helps undergraduates with financial need, and is awarded by the
               school. 

                    A Perkins Loan is a low-interest Federal loan for undergraduates and
                    graduate students with financial need, and is awarded by the school. 

Are there other ways to keep the cost of college down? 

Enroll in a Two-Year College; Then Transfer to a Four-Year College 

Local community colleges are usually the least expensive. In addition to charging low tuition, they are
located in the area in which the student lives, which makes it possible to save by living at home and
commuting to campus. 

After completing an associate's degree or certificate in a two-year college, students often can transfer
to a four-year college and work toward a bachelor's degree. 

If your child chooses this route, he or she needs to take courses in the two-year college that will count
toward a bachelor's degree. Certain community college courses may not be transferable to a four-year
institution. Community college admissions officers can explain transfer terms and opportunities. 

Work Part Time 

Some students choose to work part time and attend college part time. If your child wishes to do this, he
or she should make sure that work, classes, and time for studying do not conflict. Some institutions
offer programs that enable students to combine work and classes. Although going to school part time is
a good option for many students, it usually takes longer for part-time students to earn their degrees. 

Take Advantage of Armed Forces Education Programs 

All of the ways to get postsecondary educational training through the Armed Forces are shown in
Chart 10 below. The armed forces offer educational programs during or after active duty. If your child
prefers to work toward a college degree immediately after high school, attending one of the military
academies or attending a civilian school and enrolling in the 

[Graphic Omitted] 

Reserve Officers Training Corps (ROTC) program are options. If your child wants to join the armed
forces before attending college full time, he or she can attend college after military service by taking
advantage of the Montgomery GI Bill or by obtaining college credit for some of the military training he
or she will receive. 

     Military Academies 

Each branch of the military, with the exception of the Marine Corps, has its own academy--a four-year
college that offers a bachelor's degree and a commission in the military upon graduation. The military
academies are highly competitive and are tuition-free to students who are admitted. The three main
military academies are: 

(1) U.S. Military Academy, located in West Point, New York; 

(2) U.S. Naval Academy, located in Annapolis, Maryland; and 

(3) U.S. Air Force Academy, located in Colorado Springs, Colorado. 

     ROTC 

In the ROTC scholarship program, the military covers the cost of tuition, fees, and textbooks and also
provides a monthly allowance. Scholarship recipients participate in summer training while in college and
fulfill a service commitment after college. 

     The Montgomery GI Bill 

This bill provides financial support for people who wish to pursue a college education after serving in
the military. 

     Other Ways To Get a College Education in the Armed Forces 

Most branches of the military offer some kind of tuition assistance program that enables members to
take college courses at civilian colleges during their off-duty hours while on active duty. In addition,
military training while on active duty can sometimes count toward college credit. All branches of the
military offer training in various technical and vocational areas, and military enrollees can often obtain
college credit for some of this training. 

Local armed forces recruiting offices can provide detailed information about education opportunities
through the military. 

How do I set up a long-range plan? 

Step by step, you can help your child make informed decisions about his or her education, do well
academically, learn about colleges, and find the best possible opportunities for a college education. 

Following are two checklists that are designed to help you and your child, year by year, progress
toward preparing for college--both academically and financially. The first list speaks directly to your
child, although he or she may need your help. The second list speaks directly to you. 

College Preparation Checklist for Students 

PRE-HIGH SCHOOL: 

     Take challenging classes in English, mathematics, science, history, geography, and a foreign
     language. 

     Develop strong study skills. 

     Start thinking about which high school classes will best prepare you for college. 

     If you have an opportunity to choose among high schools, or among different programs within
     one high school, investigate the options and determine which ones will help you -- 

further your academic and career interests and 

open doors to many future options. 

     Investigate different ways to save money--buying a U.S. Savings Bond or opening a savings
     account in a bank, etc. 

     Start saving for college if you haven't already. 

HIGH SCHOOL: 

gth GRADE 

     Take challenging classes in English, mathematics, science, history, geography, and a foreign
     language. 

     Get to know your career counselor or guidance counselor, and other college resources available
     in your school. 

     Talk to adults in a variety of professions to determine what they like and dislike about their jobs
     and what kind of education is needed for each kind of job. 

     Continue to save for college. 

10TH GRADE 

     Take challenging classes in English, mathematics, science, history, geography, and a foreign
     language. 

     Talk to adults in a variety of professions to determine what they like and dislike about their jobs,
     and what kind of education is needed for each kind of job. 

     Become involved in school- or community- based extracurricular (before or after school)
     activities that interest you and/or enable you to explore career interests. 

     Meet with your career counselor or guidance counselor to discuss colleges and their
     requirements. 

     Take the Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test
     (PSAT/NMSQT). You must register early. If you have difficulty paying the registration fee, see
     your guidance counselor about getting a fee waiver. 

     Take advantage of opportunities to visit colleges and talk to students. 

     Continue to save for college. 

11TH GRADE 

     Take challenging classes in English, mathematics, science, history, geography, and a foreign
     language. 

     Meet with your career counselor or guidance counselor to discuss colleges and their
     requirements. 

     Continue involvement in school- or community-based extracurricular activities. 

     Decide which colleges most interest you. Write these schools to request information and an
     application for admission. Be sure to ask about special admissions requirements, financial aid,
     and deadlines. 

     Talk to college representatives at college fairs. 

     Take advantage of opportunities to visit colleges and talk to students. 

     Consider people to ask for recommendations--teachers, counselors, employers, etc. 

     Investigate the availability of financial aid from Federal, State, local, and private sources. Call
     the Student Aid Hotline at the U.S. Department of Education (1-800-4FED-AID) for a student
     guide to Federal financial aid. Talk to your guidance counselor for more information. 

     Investigate the availability of scholarships provided by organizations such as corporations, labor
     unions, professional associations, religious organizations, and credit unions. 

     If applicable, go to the library and look for directories of scholarships for women, minorities, and
     disabled students. 

     Register for and take the Scholastic Aptitude Test (SAT), the ACT, Achievement Tests, or any
     other exams required for admission to the colleges you might want to attend. If you have
     difficulty paying the registration fee, see your guidance counselor about getting a fee waiver. 

     Continue to save for college. 

12TH GRADE 

     Take challenging classes in English, mathematics, science, history, geography, and a foreign
     language. 

     Meet with your counselor early in the year to discuss your plans. 

     Complete all necessary financial aid forms. Make sure that you fill out at least one form that can
     be used for Federal aid. 

     Write colleges to request information and applications for admission. Be sure to ask about
     financial aid, admissions requirements, and deadlines. 

     If possible, visit the colleges that most interest you. 

     Register for and take the Scholastic Aptitude Test (SAT), American College Test (ACT),
     Achievement Tests, or any other exams required for admission to the colleges to which you are
     applying. If you have difficulty paying the registration fee, see your guidance counselor about
     getting a fee waiver. 

     Prepare your application carefully. Follow the instructions, and PAY CLOSE ATTENTION TO
     DEADLINES! Be sure to ask your counselor and teachers at least two weeks before your
     application deadlines to submit the necessary documents to colleges (your transcript, letters of
     recommendation, etc.). 

Financial Preparation Checklist for Parents 

PRE-HIGH SCHOOL: 

     Investigate different ways to save money--buying a U.S. Savings Bond or opening a savings
     account in a bank, etc. 

     Start saving money for your child's college education. 

HIGH SCHOOL: 

9TH GRADE 

     Continue to save for college. 

10TH GRADE 

     Continue to save for college. 

11TH GRADE 

     Help your child investigate the availability of financial aid from Federal, State, local, and private
     sources. Call the Student Aid Hotline at the U.S. Department of Education (1-800-4FED-AID)
     for a student guide to Federal financial aid. Have your child talk to his/her guidance counselor
     for more information. 

     Help your child investigate the availability of scholarships provided by organizations such as
     corporations, labor unions, professional associations, religious organizations, and credit unions. 

     If applicable, go to the library with your son or daughter and look for directories on scholarships
     for women, minorities, and disabled students. 

12TH GRADE 

     Make sure your child completes all necessary financial aid forms. Be sure that he or she
     completes at least one form that can be used for Federal aid. 

     Continue to save for college. 

What terms do I need to understand? 

Below is a glossary of some terms that you may want to remember: 

A.A.: This stands for an "associate of arts" degree, which can be earned at most two-year colleges. 

A.A.S.: This refers to an "associate of applied science" degree, which can be earned at some two-year
colleges. 

Achievement Test: Achievement Tests are offered in many areas of study including English,
mathematics, many sciences, history, and foreign languages. Some colleges require students to take
one or more Achievement Tests when they apply for admission. Write to the address on page 41 of
this handbook for more information about such tests. 

ACT: This is a test published by American College Testing, which measures a student's aptitude in
mathematical and verbal comprehension and problem solving. Many colleges in the South and Midwest
require students to take this test and submit their test scores when they apply for admission. Some
colleges accept this test or the SAT. (See below for explanation of SAT.) Most students take the ACT
or the SAT during their junior or senior year of high school. 

B.A. or B.S.: B.A. stands for "bachelor of arts," and B.S. stands for "bachelor of science." Both
degrees can be earned at four-year colleges. Some colleges only grant B.A.s and others only grant
B.S.s--it depends on the kinds of courses offered at the particular college. 

Certificates of Deposit: See chaff beginning on page 22. 

Default Rate: The default rate is the percentage of students who took out Federal student loans to help
pay their expenses but did not repay them properly. 

Dividends: Dividends are payments of part of a company's earnings to people who hold stock in the
company. 

Expected Family Contribution (EFC): An amount, determined by a formula that is specified by law, that
indicates how much of a family's financial resources should be available to help pay for school. Factors
such as taxable and non-taxable income, assets (such as savings and checking accounts), and benefits
(for example, unemployment or Social Security) are all considered in this calculation. The EFC is used
in determining eligibility for Federal need-based aid. 

Fees: These are charges that cover costs not associated with the student's course load, such as costs
of some athletic activities, clubs, and special events. 

Financial Aid: Financial aid in this handbook refers to money available from various sources to help
students pay for college. 

Financial Aid Package: The total amount of financial aid a student receives. Federal and non-Federal
aid such as grants, loans, or work-study are combined in a "package" to help meet the student's need.
Using available resources to give each student the best possible package of aid is one of the major
responsibilities of a school's financial aid administrator. 

Financial Need: In the context of student financial aid, financial need is equal to the cost of education
(estimated costs for college attendance and basic living expenses) minus the expected family
contribution (the amount a student's family is expected to pay, which varies according to the family's
financial resources). 

General Educational Development (GED) Certificate: The certificate students receive if they have
passed a high school equivalency test. Students who don't have a high school diploma but who have a
GED will still qualify for Federal student aid. 

Grant: A grant is a sum of money given to a student for the purposes of paying at least pad of the cost
of college. A grant does not have to be repaid. 

Individual Corporate Bonds or Stocks: See chad beginning on page 22. 

Interest: This refers to the amount that your money earns when it is kept in a savings instrument. 

Investment: In this handbook, an investment refers to using your money to invest in something that will
enable you to earn interest or dividends over time. 

Liquidity: A term that refers to how quickly you can gain access to money that you invest or deposit in
some kind of savings instrument. 

Loan: A loan is a type of financial aid that is available to students and to the parents of students. An
education loan must be repaid. In many cases, however, payments do not begin until the student
finishes school. 

Merit-based Financial Aid: This kind of financial aid is given to students who meet requirements not
related to financial needs. Most merit-based aid is awarded on the basis of academic performance or
potential and is given in the form of scholarships or grants. 

Money Market Accounts/Money Market Mutual Funds: See chart beginning on page 22. 

Mutual Funds: See chart beginning on page 22. 

Need-based Financial Aid: This kind of financial aid is given to students who are determined to be in
financial need of assistance based on their income and assets and their families' income and assets, as
well as some other factors. 

Open Admissions: This term means that a college admits most or all students who apply to the school.
At some colleges it means that anyone who has a high school diploma or a GED can enroll. At other
schools it means that anyone over 18 can enroll. "Open admissions," therefore, can mean slightly
different things at different schools. 

Pell Grants: These are Federal need-based grants that will be given to over 4 million students for school
year 1992-93. In school year 1992-93, the maximum Pell Grant will be 

Perkins Loan: This is a Federal financial aid program that consists of low-interest loans for
undergraduates and graduate students with financial need, and is awarded by the school. 

Postsecondary: This term means "after high school" and refers to all programs for high school
graduates, including programs at two- and four-year colleges and vocational and technical schools. 

Principal: This refers to the face value or the amount of money you place in a savings instrument on
which interest is earned. 

Proprietary: This is a term used to describe postsecondary schools that are private and are legally
permitted to make a profit. Most proprietary schools offer technical and vocational courses. 

PSAT/NMSQT: This stands for the Preliminary Scholastic Aptitude Test/National Merit Scholarship
Qualifying Test, a practice test that helps students prepare for the Scholastic Aptitude Test (SAT). The
PSAT is usually administered to tenth or eleventh grade students. Although colleges do not see a
student's PSAT/NMSQT score, a student who does very well on this test and who meets many other
academic performance criteria may qualify for the National Merit Scholarship Program. 

Return: Return refers to the amount of money you earn through a financial investment or savings
instrument. You earn money on investments and savings instruments through interest earnings or
dividends. 

Risk: In reference to saving money or investing money, risk refers to the danger that the money you set
aside in some kind of savings plan or investment could be worth less in the future. 

ROTC: This stands for Reserve Officers Training Corps program, which is a scholarship program
wherein the military covers the cost of tuition, fees, and textbooks and also provides a monthly
allowance. Scholarship recipients participate in summer training while in college and fulfill a service
commitment after college. 

SAT: This stands for the Scholastic Aptitude Test, which is a test that measures a student's aptitude in
mathematical and verbal comprehension and problem solving. Many colleges in the East and West
require students to take the SAT and to submit their test scores when they apply for admission. Some
colleges accept this test or the ACT. (See above for an explanation of the ACT.) Most students take
the SAT or the ACT during their junior or senior year of high school. 

Savings Accounts: See chart beginning on page 22. 

Savings Instrument: In this document, savings instrument refers to any kind of savings plan or
mechanism you can use to save money over time. Examples of savings instruments discussed in this
handbook are savings accounts, certificates of deposit (CDs), and money market accounts. 

Scholarship: A scholarship is a sum of money given to a student for the purposes of paying at least part
of the cost of college. Scholarships can be awarded to students based on students' academic
achievements or on many other factors. 

SEOG (Supplemental Educational Opportunity Grant): This is a Federal award that helps
undergraduates with financial need, and is awarded by the school. The SEOG does not have to be paid
back. 

Stafford Loans: These are student loans offered by the Federal Government. Starting in October 1992,
there will be two Stafford Loan programs -- one need-based program and another non-need-based.
Under the Stafford Loan program, students can borrow money to attend school and the Federal
Government will guarantee the loan in case of default: Under the Stafford Loan programs, the
combined loan limits are $2625 for the first year, $3500 for the second year, $5500 for the third or
more years. An undergraduate cannot borrow more than a total of $23,000. 

Transcript: This is a list of all the courses a student has taken with the grades that the student earned in
each course. A college will often require a student to submit his or her high school transcript when the
student applies for admission to the college. 

Tuition: This is the amount of money that colleges charge for classroom and other instruction and use
of some facilities such as libraries. Tuition can range from a few hundred dollars per year to more than
$18,000. A few colleges do not charge any tuition. 

U.S. Government Securities: See chad beginning on page 22. 

U.S. Savings Bonds: See chad beginning on page 22. 

Work-Study Programs: These programs are offered by many colleges. They allow students to work
pad time during the school year as part of their financial aid package. The jobs are usually on campus
and the money earned is used to pay for tuition or other college charges. 

Where can I get more information on the topics discussed in this handbook? 

In this section you will find phone numbers, addresses, and books that you can use to get more
information about planning for college both financially and academically. You should be able to find
most of these books and others like them at your local library. 

The following publications and organizations represent a partial list of such sources of information.
Their placement on this list does not constitute an endorsement by the U.S. Department of Education. 

Books About Occupations and Careers 

(1) The Occupational Outlook Handbook, 1992-93 Edition. U.S. Department of Labor, Bureau of
Labor Statistics, 1992. 

(2) Careers for the '90s: Everything You Need To Know to Find the Right Career. Research and
Education Association, 1991. 

(3) The College Board Guide to Jobs and Career Planning, Joyce Slayton Mitchell. The College Board,
1990. 

Books About Choosing a College 

(1) The College Handbook, 1992. The College Board, 1991. 

(2) Peterson's Guide to Four-Year Colleges, 1993, Twenty-Third Edition. Peterson's Guides, Inc., 1992.

(3) Barron's Profiles of American Colleges, Nineteenth Edition. Barron's Educational Series, Inc.,
1992. 

Information About Taking Standardized Tests 

(1) The Scholastic Aptitude Test (SAT) and the Achievement Tests. Write or call: 

The College Board/ATP
P.O. Box 6200
Princeton, NJ 08541 

Phone: 609-771-7600 

(2) The ACT. Write or call: 

ACT Registration
P.O. Box 414
Iowa City, IA 52243 

Phone: 319-337-1270 

(3) The Preliminary Scholastic Aptitude Test/ National Merit Scholarship Qualifying Test
(PSAT/NMSQT). Write or call: 

PSAT/NMSQT
P.O. Box 24700
Oakland, CA 94632-1700 

Phone: 609-683-0449 or 510-653-5595 

Books About Preparing for Standardized Tests 

(1) Barron's How To Prepare for the Preliminary Scholastic Aptitude Test/National Merit Scholarship
Qualifying Test, Seventh Edition, Samuel Brownstein, Mitchel Weiner, and Sharon Welner Green.
Barron's Educational Series, Inc., 1989. 

(2) Barron's How to Prepare for the Scholastic Aptitude Test, Sixteenth Edition, Samuel C.
Brownstein, Mitchel Welner, and Sharon Welner Green. Barron's Educational Series, Inc., 1991. 

(3) Cracking the The SAT and the PSAT, 1993 Edition, Adam Robinson and John Katzman. The
Princeton Review, 1992. 

Books About Financing Your Child's Education 

(1) How To Pay For Your Children's College Education, Gerald Krefetz. The College Board, 1988. 

(2) Meeting College Costs. The College Board, 1991. (booklet) 

(3) College Financial Aid, Fourth Edition. College Research Group of Concord, Massachusetts, and
John Schwartz. Arco Publishing, a Division of Simon and Schuster, Inc., 1991. 

Information About U.S. Savings Bonds 

Write to: 

Office of Public Affairs
U.S. Savings Bonds Division
Washington, DC 20226 

Information About Federal Student Financial Aid 

Request The Student Guide by writing to: 

Federal Student Aid Information Center
P.O. Box 84
Washington, DC 20044 

Call the Federal Student Financial Aid Information Center toll-free at 1-800-4FED-AID. 

Books About Private Sources of Financial Aid 

(1) Foundation Grants to Individuals, Seventh Edition. The Foundation Center, 1991. 

(2) The A's and B's Of Academic Scholarships, Deborah L. Klein, Editor. Octameron Associates,
1992. 

(3) The Scholarship Book, Third Edition, Daniel J. Cassidy and Michael J. Alves. Prentice Hall, Inc.,
1990. 

Information About Opportunities in Each State 

For Information about State financial aid and colleges and universities in specific States, contact the
agencies listed below. They can provide you with other contacts in the State for more information. 

ALABAMA 

Executive Director
Commission on Higher Education
One Court Square, #221
Montgomery, Alabama 36197-3584
(205) 269-2700
FAX: 240-3349 

ALASKA 

Executive Director
Alaska Postsecondary Education Commission P.O. Box 110505
Juneau, Alaska 99811-0505
(907) 465-2962
FAX: 586-4002 

President
University of Alaska System
202 Butrovich Building
Fairbanks, Alaska 99775-5560
(907) 474-7311
FAX: 474-7570 

ARIZONA 

Executive Director
Arizona Board of Regents
2020 North Central, Suite 230
Phoenix, Arizona 85012
(602) 229-2500
FAX: 229-2555 

ARKANSAS 

Director
Department of Higher Education
114 East Capitol
Little Rock, Arkansas 72201
(501) 324-9300
FAX: 324-9308 

CALIFORNIA 

Executive Director
California Postsecondary Education Commission 1303 J Street, 5th Floor
Sacramento, California 95814-2983
(916) 445-1000
FAX: 327-4417 

California Student Aid Commission
1515 "S" Street
North Building, Suite 500
P.O. Box 510845
Sacramento, California 94245-0845
(916) 445-0880 

COLORADO 

Executive Director
Commission on Higher Education
1300 Broadway, 2nd Floor
Denver, Colorado 80203
(303) 866-4034
FAX: 860-9750 

CONNECTICUT 

Commissioner of Higher Education
Department of Higher Education
61 Woodland Street
Hartford, Connecticut 06105
(203) 566-5766
FAX: 566-7865 

DELAWARE 

Executive Director
Delaware Higher Education Commission
820 French Street
Wilmington, Delaware 19801
(302) 577-3240
FAX: 577-3862 

DISTRICT OF COLUMBIA 

Chief
Office of Postsecondary Education Research and Assistance 2100 M. L. King Jr. Avenue, #401
Washington, D.C. 20020
(202) 727-3685 

FLORIDA 

Executive Director
Postsecondary Education Planning Commission Florida Education Center
Collins Building
Tallahassee, Florida 32399
(904) 488-7894
FAX: 922-5388 

Office of Student Financial Assistance
Florida Department of Education
Florida Education Center, Suite 1344
Tallahassee, Florida 32399-0400
(904) 488-1034 

GEORGIA 

Chancellor
Board of Regents
University System of Georgia
244 Washington Street, S.W.
Atlanta, Georgia 30334
(404) 656-22O4
FAX: 651-9301 

Georgia Student Finance Commission
2082 East Exchange Place, Suite 200
Tucker, Georgia 30084
(404) 493-5402 

HAWAII 

President
University of Hawaii System
2444 Dole Street
Honolulu, Hawaii 96822
(808) 956-8213 

Hawaii State Postsecondary Education Commission 2444 Dole Street
Honolulu, Hawaii 96822
(808) 956-8213 

IDAHO 

Executive Director for Higher Education State Board of Education
650 West State Street, #307
Boise, Idaho 83720
(208) 334-2270
FAX: 334-2632 

ILLINOIS 

Executive Director
Board of Higher Education
500 Relsch Building
4 West Old Capital Square
Springfield, Illinois 62701
(217) 782-2551
FAX: 782-8548 

Illinois Student Assistance Commission
Executive Offices
500 West Monroe Street, Third Floor
Springfield, Illinois 62704
(217) 782-6767 

INDIANA 

Commissioner for Higher Education
Commission for Higher Education
101 West Ohio Street, Suite 550
Indianapolis, Indiana 46204-1909
(317) 232-1900
FAX: 232-1899 

State Student Assistance Commission of Indiana 964 North Pennsylvania Street
Indianapolis, Indiana 46204
(317) 232-2350 

IOWA 

Executive Director
State Board of Regents
Old State Historical Building
East 12th & Grand
Des Moines, Iowa 50319
(515) 281-3934
FAX: 281-6420 

Iowa College Student Aid Commission
201 Jeweft Building
914 Grand Avenue
Des Moines, Iowa 50309
(515) 281-3501 

KANSAS 

Executive Director
Kansas Board of Regents
400 SW 8th Street, #609
Topeka, Kansas 66603
(913) 296-3421
FAX: 296-0983 

KENTUCKY 

Executive Director
Council on Higher Education
W. Frankfort Office Complex
1050 U.S. 127 South
Frankfort, Kentucky 40601
(502) 564-3553
FAX: 564-2063 

Kentucky Higher Education Assistance Authority 1050 U.S. 127 South, Suite 102
Frankfort, Kentucky 40601
(502) 564-7990 

LOUISIANA 

Commissioner
Board of Regents
150 Riverside Mall, Suite 129
Baton Rouge, Louisiana 70801-1303
(504) 342-4253
FAX: 342-9318 

Office of Student Financial Assistance, Louisiana Student Financial Assistance Commission
P.O. Box 91202
Baton Rouge, Louisiana 70821-9202
(504) 922-1011 

MAINE 

Chancellor
University of Maine System
107 Maine Avenue
Bangor, Maine 04401-1805
(207) 947-0336
FAX: 947-0336 x293 

Financial Authority of Maine,
Maine Education Assistance Division
One Weston Court
State House, Station 119
Augusta, Maine 04333
(207) 289-2183 

MARYLAND 

Secretary of Higher Education
Maryland Higher Education Commission
16 Francis Street
Annapolis, Maryland 21401
(410) 974-2971
FAX: 974-5376 

MASSACHUSETTS 

Chancellor
Higher Education Coordinating Council
1 Ashburton Place, Room 1401
Boston, Massachusetts 02108-1530
(617) 727-7785
FAX: 727-6397 

Massachusetts State Scholarship Office
330 Stuart Street
Boston, Massachusetts 02 116
(617) 727-9420 

MICHIGAN 

Associate Superintendent for Postsecondary Education State Department of Education
P.O. Box 30008
Lansing, Michigan 48909
(517) 335-4933
FAX: 335-4565 

Michigan Higher Education Assistance Authority P.O. Box 30008
Lansing, Michigan 48909
(517) 373-3394 

MINNESOTA 

Executive Director
Higher Education Coordinating Board
550 Cedar Street, #400
St. Paul, Minnesota 55101
(612) 296-9665
FAX: 296-3272 

MISSISSIPPI 

Commissioner
Board of Trustees of State Institutions of Higher Learning 3825 Ridgewood Road
Jackson, Mississippi 39211
(601) 982-6611
FAX: 987-4172 

MISSOURI 

Commissioner of Higher Education
Coordinating Board for Higher Education 101 Adams Street
Jefferson City, Missouri 65101
(314) 751-2361
FAX: 751-6635 

MONTANA 

Commissioner of Higher Education
Montana University System
33 South Last Chance Gulch
Helena, Montana 59620
(406) 444-6570
FAX: 444-7729 

NEBRASKA 

Executive Director
Coordinating Commission for Postsecondary Education 6th Floor, State Capitol
P.O. Box 95005
Lincoln, Nebraska 68509
(402) 471-2847
FAX: 471-2886 

NEVADA 

Chancellor
University of Nevada System
2601 Enterprise Road
Reno, Nevada 89512
(702) 784-4901
FAX: 784-1127 

Nevada Department of Education
400 West King Street, Capitol Complex
Carson City, Nevada 89710
(702) 687-5915 

NEW HAMPSHIRE 

Executive Director
New Hampshire Postsecondary Education Commission Two Industrial Park Drive
Concord, New Hampshire 03301-8512
(603) 271-2555 

Chancellor
University System of New Hampshire
Dunlap Center
Durham, New Hampshire 03824-3563
(603) 868-1800
FAX: 868-2756 

NEW JERSEY 

New Jersey Department of Higher Education Office of Student Assistance and Information Systems
4 Quakerbridge Plaza, CN 540
Trenton, New Jersey 08625
1-800-792-8670 

NEW MEXICO 

Executive Director
Commission on Higher Education
1068 Cerrillos Road
Santa Fe, New Mexico 87501-4295
(505) 827-7383
FAX: 827-7392 

NEW YORK 

Commissioner for Higher and Continuing Education Room 5B28 Cultural Education Center
New York State Education Department
Albany, New York 12230
(518) 474-5851
FAX: 486-2175 

The New York State Higher Education Services Corporation 99 Washington Ave.
Albany, New York 12255
(518) 473-0431 

NORTH CAROLINA 

Vice President for Planning
University of North Carolina
General Administration
P.O. Box 2688
Chapel Hill, North Carolina 27515-2688
(919) 962-6981
FAX: 962-0488 

North Carolina State Education Assistance Authority (NCSEAA) P.O. Box 2688
Chapel Hill, North Carolina 27515-2688
(919) 549-8614 

College Foundation, Inc.
2100 Yonkers Road
Raleigh, North Carolina 27604
(919) 821-4771 

NORTH DAKOTA 

Chancellor
North Dakota University System
State Capitol Building
Bismarck, North Dakota 58505
(701) 224-2960
FAX: 224-2961 

OHIO 

Chancellor
Ohio Board of Regents
30 East Broad Street, 36th Floor
Columbus, Ohio 4326-0417
(614) 466-0887
FAX: 466-5866 

OKLAHOMA 

Chancellor
State Regents for Higher Education
500 Education Building
State Capitol Complex
Oklahoma City, Oklahoma 73105
(405) 524-9100
FAX: 524-9235 

OREGON 

Chancellor
State System of Higher Education
P.O. Box 3175
Eugene, Oregon 97403-1075
(503) 346-5700
FAX: 346-5764 

Oregon State Scholarship Commission
1445 Willamette Street
Eugene, Oregon 97401
(503) 346-4166 

PENNSYLVANIA 

Commissioner for Higher Education
State Department of Education
333 Market Street
Harrisburg, Pennsylvania 17126
(717) 787-5041
FAX: 783-5420 

Pennsylvania Higher Education Assistance Agency 660 Boas Street
Harrisburg, Pennsylvania 17102
(717) 257-2500 

PUERTO RICO 

Executive Director
Council on Higher Education
Box 23305, UPR Station
San Juan, Puerto Rico 00931
(809) 758-3350
FAX: 763-6760 

RHODE ISLAND 

Commissioner of Higher Education
Office of Higher Education
301 Promenade Street
Providence, Rhode Island 02908
(401) 277-6560
FAX: 277-6111 

Rhode Island Higher Education Assistance Authority 560 Jefferson Boulevard
Warwick, Rhode Island 02886
(401) 277-2050 

SOUTH CAROLINA 

Commissioner
Commission on Higher Education
1333 Main Street, Suite 300
Columbia, South Carolina 29201
(803) 253-6260
FAX: 253-6267 

South Carolina Higher Education Tuition Grants Commission 1310 Lady Street
P.O. Box 12159
Columbia, South Carolina 29211
(803) 734-1200 

SOUTH DAKOTA 

Executive Director
Board of Regents
207 East Capitol Avenue
Pierre, South Dakota 57501-3159
(605) 773-3455
FAX: 773-5320 

Department of Education and Cultural Affairs, Office of the Secretary
700 Governors Drive
Pierre, South Dakota 57501-2291
(605) 773-3134 

TENNESSEE 

Executive Director
Tennessee Higher Education Commission
404 James Robertson Parkway
Parkway Towers, Suite 1900
Nashville, Tennessee 37219-5380
(615) 741-7562
FAX: 741-6230 

Tennessee Student Assistance Corporation Parkway Towers, Suite 1950
404 James Robertson Parkway
Nashville, Tennessee 37243-0820
(615) 741-1346 

TEXAS 

Commissioner
Texas Higher Education Coordinating Board P.O. Box 12788, Capitol Station
Austin, Texas 78711
(512) 483-6101
FAX: 483-6127 

Texas Higher Education Coordinating Board P.O. Box 12788, Capitol Station
Austin, Texas 78711
(512) 483-6340 

UTAH 

Commissioner of Higher Education
Utah System of Higher Education
355 West North Temple
3 Triad Center, Suite 550
Salt Lake City, Utah 84181-1205
(801) 538-5247
FAX: 521-6930 

VERMONT 

Vermont Student Assistance Corporation
P.O. Box 2000, Champlain Mill
Winooski, Vermont 05404-2601
(802) 655-9602 

Chancellor
Vermont State Colleges
P.O. Box 359
Waterbury, Vermont 05676
(802) 241-2520
FAX: 244-1746 

President
University of Vermont
85 South Prospect Street
Burlington, Vermont 05401
(802) 656-3186
FAX: 656-8432 

VIRGINIA 

Director
State Council of Higher Education
101 North 14th Street
Richmond, Virginia 23219
(804) 225-2600
FAX: 225-2604 

WASHINGTON 

Executive Director
Higher Education Coordinating Board
917 Lakeridge Way, GV-11
Olympia, Washington 98504
(206) 753-3241
FAX: 753-1784 

WEST VIRGINIA 

Chancellor
State College System of West Virginia
1018 Kanawha Boulevard, East, Suite 700 Charleston, West Virginia 25301
(304) 348-0699
FAX: 348-0259 

Chancellor
University of West Virginia System
1018 Kanawha Boulevard, East, Suite 700 Charleston, West Virginia 25301
(304) 558-2736
FAX: 558-3264 

WISCONSIN 

Higher Educational Aids Board
P.O. Box 7885
Madison, Wisconsin 53707
(608) 267-2206 

President
University of Wisconsin System
1700 Van Hise Hall
1220 Linden Drive
Madison, Wisconsin 53706
(608) 262-2321
FAX: 263-2046 

WYOMING 

The Community College Commission
122 West 25th Street
Herschler Building, 2W
Cheyenne, WY 82002
(307) 777-7763 

President
University of Wyoming
Box 3434
University Station
Laramie, WY 82071
(307) 766-4121 

This handbook was written by Elizabeth Eisner and Valentina K. Tikoff, under the direction of Alan
Ginsburg, Bruno V. Manno, and Maureen A. McLaughlin. Barbara Gleason, Daniel Goldenberg, David
Goodwin, Dan Morrissey, Susan W. Wolf, and Steven W. Zwillinger also contributed to the project.