Choosing the right college is one of the most significant decisions in a student’s life. Most counselors and families immediately think of Academic and Social Fit. But the bookends to the FAST acronym are equally important: Financial Fit and Timeliness.
A great college fit includes:
- Financial
- Academic
- Social
- Timeliness
This article explores these four essential components to help students make an informed decision about their path to college.
This YouTube video will also help:
Financial Fit
Soon after the thrill of opening the Acceptance Letter wears off, the reality of having to pay at least four years of college costs creeps in. Now it’s time to determine how the coming bill will be paid. Tuition, fees, housing, meal plans, books, and personal expenses (the “Cost of Attendance”) add up quickly.
Here’s how to answer the biggest question of all: is this school affordable?
- Understand the Financial Aid Award Letter. How much scholarship and grant money is being offered? Grants and scholarships are the best aid because they do not need to be repaid. How about student loans, which need to be repaid, likely with interest? Is there a work-study award (not a reduction in the bill but an opportunity to earn money while working during the school year)?
- Project Your Student’s Total Cost of Attendance. College costs different amounts for each student. Estimating your student’s likely costs is very important. You can reasonably estimate the total Cost of Attendance by adding tuition, room, meal plans/food, travel costs, books, required technology, etc.
- Do Some Simple Subtraction. Take the full financial aid offer from the college, minus the work-study award, and subtract it from your student’s projected total Cost of Attendance. In financial aid terms, this is your “unmet need” – the amount of money you have to come up with to pay the semester bill. Many financial aid award letters will also indicate the student’s unmet need.
- Use These General Guidelines to Determine if the School is Affordable.
- If the Cost of Attendance is covered by some combination of grants and scholarships, savings, gifts from others, loans, and current income that can be reasonably allocated for college costs during the school year, the school is affordable.
- If only Federal Student Loans are needed in addition to grants/scholarships plus savings and income, the school is likely affordable.
- If Parent Loans or additional loans that require a parent co-signer are needed above and beyond grants and scholarships, etc., the school may not be affordable. It is also highly likely that a similar amount of loans will be needed for each year in which the student is in school. Be careful and realistic about what large amounts of Parent Loans will do to your budget in future years.
- Complete This Analysis for Each School. Financial Fit will likely be different for each school to which the student applies because the starting cost and the amount of grant and scholarship money offered could be very different. Use these criteria to get a general view of the Financial Fit of each school.
Now let’s look at Timeliness, which is easy to overlook and is often thought of as a given when high school seniors are applying to college.
Timeliness
The timing of attending college is another critical factor that often gets overlooked or discounted. Most students who have gone through the arduous process of applying to college have made the decision and are ready to attend. But not all, particularly if the Financial Fit shows that affording college will be difficult. Maybe they are (or should be) having second thoughts.
While most students transition directly from high school to college, this may not be the best option for everyone. Some students may benefit from taking a gap year to explore their interests, gain work experience, or engage in community service before committing to higher education.
Students should also assess whether they are ready for the academic and social demands of college life. If a student feels unprepared, alternative pathways such as community college, vocational training, or online education might be better suited to their needs. Community colleges, for instance, offer an affordable way to complete general education requirements before transferring to a four-year university, which can be a more cost-effective and flexible approach.
In another scenario, a student’s or family’s financial, medical, or other circumstances may have changed since the student applied. Maybe working for a year to save money to reduce student loans and make college more affordable now makes sense.
Whatever the reason, if the timing isn’t good, the experience may not be good either. It’s also crucial to be very honest about and understanding of what the student wants – not what the parents think about the appropriateness of when to begin college.
With the FAST bookends discussed, let’s turn to the middle letters of the acronym:
- Financial
- Academic
- Social
- Timeliness
Academic Fit
Academics are often the first filter when building a college choice list, in part because GPA, SAT, ACT and/or AP test scores in addition to a college’s reputation for academic rigor are readily available. School counselors and other advisors can help a student create a list of schools that could provide the appropriate level of academic challenge: not too hard and not too easy.
Academic Fit consideration should also include aligning educational goals, learning style, and career aspirations. The availability of desired majors and the quality of the academic programs are other important considerations.
Additionally, students should consider the faculty-to-student ratio, as smaller class sizes often allow for more personalized instruction and mentorship. Research opportunities, internships, and access to cutting-edge facilities can also play a critical role in academic success. Furthermore, students should assess the college’s curriculum structure, such as whether it offers interdisciplinary studies, honors programs, or flexible course selections, to ensure it matches their learning preferences.
Another important consideration is academic support services. Colleges with strong tutoring centers, writing labs, and academic advising can help students navigate their coursework effectively. Finally, graduation rates and job placement statistics provide insight into the long-term academic success of students at a particular institution, making them essential considerations when evaluating a college’s Academic Fit.
Social Fit
A student’s college experience extends beyond the classroom though, making the social environment another key factor in determining the right fit. The vibe of the campus is often intuitive and results from a visit, talking to students there, and picturing what it would be like to live on the campus. Campus culture, extracurricular opportunities, and student engagement all contribute to a well-rounded college experience.
Students should consider whether they prefer a large university or a smaller, close-knit community. Large universities often offer a wide range of clubs, activities, and networking opportunities, while smaller colleges may provide a more intimate setting with stronger faculty-student relationships. The presence of cultural organizations, student government, sports teams, and recreational activities can greatly impact a student’s ability to connect with peers and feel a sense of belonging.
Students need to be very comfortable with the social vibe they get from a campus and the other kids. High school seniors should re-evaluate their first impression. Attending Acceptance Days/Weekends, staying with someone on campus, returning to just walk around campus, or even taking a virtual tour might help them picture themselves living in a specific college community.
The Final Word
Selecting the right college is a multifaceted decision that requires thorough evaluation of the FAST Fit methodology:
- Financial Fit
- Academic Fit
- Social Fit
- Timeliness
By taking the time to research, analyze, and reflect on these key elements of a great college fit, students can identify the institution that best aligns with their goals and aspirations. A well-matched college fit not only enhances academic and personal growth but also lays the foundation for a successful future. Ultimately, the right choice is one that allows students to thrive in all aspects of their college experience, setting them up for long-term success and fulfillment.