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Stuart Canzeri Co-Director & College Financial Planning Specialist Combined 50 years of experience BA – Tulane University, MBA - Mercer, CFP - UGA ABOUT US Teresa Venturo College Planning Specialist, Former High School Teacher, Proud Mom of UGA & Un. of Tampa Students, Rutgers University Graduate Teresa Venturo Director of Client Service, Professional Education Services Liaison, Proud Mom Combined 50 years of experience - PES Other Great Team Members: Wezi, Molly, Rachel, Gary, Terry, Glenn, Dan
Who is Peachtree? The Difference Matters ▪ Founded in late 2008 ▪ Independent Savings College ▪ Partner in Education with High Schools Our Solution ▪ Full Service ▪ Fee Only Retirement Investments ▪ Fiduciary ▪ College Experts ▪ Combine College Admissions planning with college financial planning
Benefits College Planning Workshop COLLEGE PLANNING ▪ This is a free class. Nothing is being sold. ▪ Partner in Education with many local high schools ▪ Partner in Education of the Year Honoree, Fulton County Schools ▪ Do not represent any colleges ▪ Two disciplines – Guidance (Admissions) and Financial ▪ Cover the admissions, financial aid, college financial planning, scholarship and tax ▪ You can create a SAFe™ and easy plan
Peachtree’s Mission for You • Empower families to make informed college choices. 1 • Save ON the cost , not just FOR the cost of college. 2 • Proactive rather than reactive 4 year college funding plan. 3 • Remove the emotion and make a rational college buying decision. 4 • Graduate on time with manageable student loan debt. 5 • Pay for college without robbing retirement. 6 • Help 10,000 families achieve their college and financial goals 7
8 Current Trends State funding continues its long decline – Grade inflation puts a premium on increasing costs to parents applying to instate curricular strength schools Application numbers continue to rise per student - 33% of freshmen applied to International Recruiting Push - Admissions officers 7+ institutions at 70% of research universities say that international recruiting is just as important as or More applicants per school change how more important than domestic recruiting at their applications are processed (person or institutions stacking) Enrollment Management plays a larger role than Selectivity on the rise ever before Autocatalytic process: Schools become more selective: ergo students need to apply to more schools, further increasing selectivity Enrollment Yield rates are falling at most colleges - The average yield rate for all The average discount for first- year institutions in 2014 was 36%, down from students at private colleges is now 46% 49% in 2002 • Chronicle of higher education Annual Survey, 2015
Student Debt Crisis ▪ 510% Increase Over the Last 10 Years ▪ $2,701 Per Second 2016 Graduation Class ▪ 7 in 10 Graduates Have Student Loans ▪ $37,000 on Average ▪ $370/Month Payment Over 10 Years 7
College Planning – What You Need to Know
▪ Merit Based ▪ Academically ▪ Need Based Aid ▪ Socially ▪ Three Formulas ▪ Financially ▪ Two Application Merit and COLLEGE Financial Aid SELECTION Planning College Coll ge Financ Fina ncial ial TAX AX Scho Sc holar larsh ships ips Planning Plan ning Roa oadma dmap ▪ Income, Cash Flow ▪ Tax Credits Planning ▪ Income Shifting ▪ Assets, Loans, Gifts College Dream Builder Plan ▪ Investing ▪ Awards, Appeals
Average Cost of College Per Year Public University (instate) $23,410 Public University (out) $37,229 Private University $46,272 $63,000 - $65,840 * Elite University College is EXPENSIVE! No Matter Where You Go! hdps://secure-media.collegeboard.org/digitalServices/misc/trends/2014-trends-college-pricing-report-final.pdf
Auburn Univ. $29,794 / $47,410 Cost of College Wake Forest $64,478 Georgia State $24,798 /$43,008 ▪ COA: Tuition, Books, Room/Board, Living Expenses Georgia $25,134 /$41,006 ▪ Four Years Could Cost $60,000 to $200,000 or More Kennesaw State $25,773 /$38,356 ▪ Multiply by Number of Kids Univ. of Florida $20,661 /$42,938 ▪ Costs Increasing 5-8 Percent Annually Univ. of Alabama $24,572 /$40,352 Valdosta State $21,018 /$34,235 College of Charleston $27,913/$45,457 Emory $63,058 Georgia Tech $27,420 /$47,612 GA Southern $23,972/$37,190 Princeton $61,850 Morehouse College $47,952 Stanford $65,177 *2014 Full Cost of Attendance figures provided by National Center for Education Statistics & University System of Georgia / ** College Board 2014
Cost of College Percentage of Students Graduating in: Education, Published 2014, Cohort Entry Source: United States Department of 4 Years 6 Years Public 33% 57% Private 53% 66% 2006 Georgia 27% 55% Average Student Takes 5.8 to 6.2 Years to Graduate with a 4 Year Degree** “Time Contributes to Cost!
Graduation Rates - Public Chronicle of Higher Education: http://collegecompletion.chronicle.com/state/#state=ga§or=public_four .
Graduation Rates - Private Chronicle of Higher Education: http://collegecompletion.chronicle.com/state/#state=ga§or=public_four .
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Hope Facts & Figure Ho p e Award 3.0 GPA – 80% Tuition $17,310 a Year! – GA Tech Net Tuition Calculator 2015 $17,100 a Year! – UGA Net Tuition Calculator 2014 Zell Award 3.7 GPA and 1200 SAT (Math & Reading) / ACT 26 ▪ 100% Tuition (3.3 College GPA) $10,500 - $12,000 a Year On Average
Hope Scholarship Retention ▪ University of Georgia 60.9 ▪ Georgia Tech 42.7 ▪ Georgia College & State 38.4 ▪ Georgia State 31.7 ▪ Georgia Southern 28.7 ▪ Kennesaw State 27.7 ▪ Southern Polytechnic 18.3 ▪ University of West Georgia 18.3 ▪ Clayton State 15.6 ▪ University System Average 29.6
Cost of an Extra Year Cost of an Extra Year 5 th Year of College $20,105 Lost Salary for 1 st YR $42,579 Total Loss $62,684 Time Contributes to Cost!
Tax Cost of College Annual Cost 4 Year Public 4 Year Elite $28,000.00 $61,000.00 Tax Bracket 25% $37,000.00 $81,000.00 33% $42,000.00 $91,000.00 39.6% $46,000.00 $101,000.00 “What If” you recaptured $10,000 a year?
Where to Begin?
Assumption Will Cost You! Safety Schools Target Schools Reach School
It is About FIT – Know Before You Go Social Fit Know Before You Go Academic Fit Financial Fit Safety Schools Target Schools Reach School The Best Fit
College is a business. • Know Graduation Rates* • 44.1% within 4 years • 59.3% within 6 years Social • Know the value of the degree Academic and major • Know internship and job Financial placement opportunities • Know how financial aid is awarded • collegescorecard.ed.gov Unicorn College • collegeboard.org • collegedata.com National Center for Education Statistics 2012 (for all 4 year non profit colleges and universities)*
Choosing the Right School
Two Paths to College W H I C H P A T H A R E Y O U O N ? W H I C H P A T H A R E Y O U O N ? #3 #3 Career School #2 #2 #1 #1 Major Major School Career ▪ Investigate Career and Major FIRST ▪ Create a List of Characteristics that are Important to You ▪ Score Every School Using the Same Criteria ▪ Use Your SCORESHEET When You Visit
Selecting the RIGHT Type of College Type of Schools • Research Universities • Master’s Level Universities • Liberal Arts Colleges ▪ Baccalaureate Colleges Financial Aid ▪ Who Gives it ▪ How do they give it ▪ What’s free and what needs to be paid back ▪ Are you Eligible
Selecting the Right College! ✓ Size ✓ Majors Offered ✓ Liberal - Conservative ✓ Location ✓ Safety ✓ Campus Setting ✓ Enrollment Yield ✓ Graduation Rates ✓ Internships & job placement rates
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NOT All Majors are Created Equal! Average Starting Salary By Discipline* Discipline Starting Salary Engineering $62,891 Computer Science $62,103 Business $57,229 Communications $48,253 Math and Sciences $44,299 Education $40,267 Humanities and Social Sciences $38,049 OVERALL $48,707
Be An Educated Shopper! & QUALITY SEE THE COLLEGE REALITY There’s No Substitute for a Visit! Top Down Approach: Apply to 6-10 Colleges Dorm Room Interview & Cafeteria Visit a Class Apartments Questions Job Placement Student/Teacher Ration Grading Scale Tutoring Options Athletic Department
College Planning Selection Tips ▪ On-Line College Searches – The Numbers – Enrollment Yield ▪ Interview Your School – Grad Rates, etc. ▪ There is NO Substitute for a Visit ▪ Top-Down Approach (Goal: Apply to 6-10 Colleges) ▪ Ensure the College will “Want” You to Apply ▪ Career – Major – College (Not College – Major – Career) ▪ Plan for 4 Years, Pick, Pay Not Pick, Pay 1 st Year and Plan for the Rest
ACT / SAT Tests
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