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With college costs ranging from $90,000 in-state to $200,000 out-of-state, scholarships are one of the most effective ways to reduce the financial burden.
Standardized test scores—especially the ACT—often have the biggest impact on automatic scholarship amounts, sometimes shifting awards by tens of thousands of dollars.
Investing in ACT prep through study guides, structured programs, or tutoring can pay off many times over by boosting scores and unlocking higher scholarship levels.
Guest Post by Alec Fetterer of Transform Tutoring
I’m excited to feature a guest post from Alec Fetterer, an expert on test prep for college-bound families. I think this is such a crucial piece of the college application process, and Alec offers valuable insight on why preparing for the ACT is important for many families.
If you’re planning to front the bill you can expect to pay about $80,000 – $90,000 over 4 years if you live in state and $150,000 – $200,000 out of state for public schools. That cost rises even higher for private and prestigious schools. These costs are significant and it is in the student/family’s best interest to seek any avenues possible to ease the burden of cost.
Outside of loans and money from family, the most accessible and impactful savings come from scholarships. There are a variety of scholarships students can apply for within and outside of the college that can help pay for school, and students should be active in the application process during their senior year.
“That said, the scholarships that will have the biggest impact tend to be the ones students receive directly upon admissions. These scholarships can sometimes focus on financial need and background, but they are typically centered around academic achievement and test scores.”
The ACT is a college readiness exam that is offered roughly every 2 months that covers English/Math/Reading/ and Science subjects. Students can pay a small fee (roughly $30-$50) to sign up and take it for a few hours on a set Saturday selected by ACT Inc. This test is used as a way for colleges to understand how prepared a student is for the next level and measure if they’re a good fit for their institution. The test also plays a role in acceptance into college and scholarship distribution. It is an often overlooked area of academics in terms of its importance to the logistics of attending college.
If they’re already meeting GPA, course load, and activity requirements, then preparing intensively to maximize standardized test scores would be a focus area. Students can do this by purchasing a study guide and working through it. They can also focus their class selection around areas featured on the exam. To really tackle this though, students should consider a training program online or with a tutor/coach. An intense ACT prep program can really raise test scores in a short period of time. It can be an investment as the price is not minimal, but the return can be 10 fold when benchmarks are met. If your student is close to a scholarship cut off you may want to seriously consider this option.
Want to learn more about how you can save money on college? Set up a free discovery meeting today!
Alec Fetterer
Founder and Owner, Transform Tutoring
Quinn worked for nineteen years in HR consulting and corporate finance before realizing he wanted a more direct way to help people improve their lives. When he's not working with clients, you’ll probably find him tag-teaming the work of raising two boys with his wife, Brie. If there’s time left over, he'll be catching up on the Netflix queue or reading his way through an ever-growing stack of books. As a flat fee advisor for Arnold and Mote Wealth Management, Quinn is a CFP® Professional and member of NAPFA and XY Planning Network. Arnold & Mote Wealth Management is a flat fee, fiduciary financial planning firm serving individuals and families in Cedar Rapids and surrounding areas.