Decision day is coming – how to make the right college choice for you

By Gina Gallagher | Citizens Contributor

The acceptance letters have arrived. After all of the campus tours, applications, deadlines, and the waiting, it’s time for one of the most important decisions you’ll ever make — which college you’ll attend in the fall.

Should be a no-brainer, right?

The truth is, for a lot of high school students — and their anxious parents — making that decision isn’t so easy. You may be torn between the big university an hour away and the small liberal arts college all the way across the country. So how can you channel your inner Goldilocks and settle on the college that’s just right?

Start by thinking about these five important factors about what to look for in a college:

In a fairytale world, most of us wouldn’t have to worry about college costs. But the truth is, for many students, the cost of college is a harsh reality that can extend well beyond the time spent on campus. According to Forbes, the average student loan debt for graduates of the class of 2018 was $29,200. What’s more, the total student loan debt in the United States in 2020 is at $1.56 trillion, the second-highest consumer debt category next to mortgages.

The last thing you want to do is graduate with high monthly payments that will make starting the life you want more difficult. That’s why, when evaluating colleges, you’ll want to compare higher education costs and financial aid packages. Some questions to ask include:

• Is the school a public or private university? In general, private schools are more expensive, but they may offer more scholarship funds.
• Which college is offering the best financial aid award package? How much of your own funds will you have to come up with after financial aid, scholarships, and loans?

When comparing costs, make sure you look at all the fees. Tuition is the highest cost — but it isn’t the only one. Other costs to compare include room and board, meal plans, athletic fees, books, and supplies.

Another important factor to evaluate is the cost over four years, not just the first year. Many students make the mistake of attending a college that they can only afford for a year. If they want to stay, they may end up borrowing more than they can afford. Or, they may have to leave the college after the first year. That’s why it’s important to understand all the costs involved and to factor in costs in the future, since tuition typically rises 3-5% every year. It’s also a good idea to discuss costs with your family.

College is fun and exciting. It’s also an investment — one of the biggest ones you’ll make in your lifetime. As with any investment, you have to factor in the return you’ll receive. In this case, that return would be career opportunities and earning potential. You should know the average salary, for example, of people who have graduated with your chosen major. To assist with that, the U.S. Department of Education has enhanced its College Scorecard, which can help you determine the cost and value of different colleges. You can find customized data to help you determine potential debt as well as earnings based on particular fields of study.

The location of a college — and its proximity to your home — can greatly impact your expenses and overall experience. If you choose a school across the country, factor in travel as part of your costs. You also may not be able to come home as frequently as other students. Another consideration is whether the college is in a rural or city area. City colleges certainly offer more attractions and options, but the cost, particularly for housing, may be more. On the other hand, city colleges may provide more career opportunities through internships or potential jobs after college.

If you choose a college in a rural area, you’ll want to look closely at the activities and programs it offers, since you'll likely spend the majority of your time on campus.

Public and private colleges come in all sizes. The challenge is to find the size that fits best with your learning style, comfort, and interests. You can accomplish that by answering the following questions:

• What’s the size of your current school? Are you comfortable with it, or would you like a larger or smaller school?
• Is the name/reputation of the college important to you?
• Do you prefer smaller or larger classrooms?
• Do you want more one-on-one interaction with your professors?
• Are you comfortable in large crowds?
• Is your chosen major available at a smaller college?
• If you’re unsure of your major, do you want access to more options?
• Do you mind taking a bus or car to your classes?
• Do you want to have less competition for awards and opportunities?

The school you choose should also mirror your interests and values. Having a specific major can make your search easier. For example, if you’re interested in a career in engineering, you wouldn’t want to choose a liberal arts college.

Your interests and values are important. Some questions to ponder:

• Do you see yourself playing sports or attending big sporting events on campus? What extracurricular activities does the campus and town/city offer?
• Are you interested in pledging a fraternity or sorority?
• Do you plan on coming home often or will you stay at school on weekends? If it’s the latter, you’ll want to make sure the school isn’t primarily for commuters.
• Is your religious affiliation important to you? You may find a school that fits with your religious values. Conversely, you may not want to attend a school that’s religiously based.
• Does the campus feel diverse enough? Could you see yourself fitting in and socializing with the student body?
• If you’re passionate about the environment, does the school promote sustainability?
• If what you want is to study abroad, does the school have programs for your major?
• Does the college have on-campus events that appeal to you? Do you see yourself participating in them?

The easiest way to decide which school is the best fit for you is to make a list of the factors that are most important and assign priorities. Then look at the schools that best align with your priorities.

When you reach your decision, notify the school of your choice and send back the required documentation, including your signed acceptance letter, financial aid acceptance, deposit, and any other required forms or information. Also be sure to notify the others schools that accepted you that you won't be attending so they can free up room for other applicants. You may even want to consider sending a personal thank you.

It’s important to remember that no school will be perfect. But by considering all these factors, you’ll put yourself in a better position to end up like Goldilocks with the choice that’s just right for you. Don’t despair if you decide against your “dream school” because of cost or other factors. You can still enjoy an amazing college experience wherever you end up.

Citizens is committed to helping you make the right financial decisions. Learn more about how to pay for college, call 1-888-411-0266 to speak to a Student Lending Specialist, or stop by your nearest Citizens branch.