Money Talks

Listen to the audio version here.

(No…It’s not about that.)

I spent some time with a good friend in Charlotte, NC last week. The first thing he said when we sat down was, “Been adulting hard lately, brother.” He went on to tell me about dealing with some incredibly tough and delicate HR issues at work. This week he’s staring down the barrel of another round of necessarily honest and inevitably uncomfortable meetings with a few employees.

After I left his house, I was thinking about a conversation I have coming up. I’m calling it The Three P’s: puberty, pornography, and pregnancy. Before my son turns 11 in May, I’m going to take him for a hike and then a meal at Waffle House and cover these topics.

I’m still debating and continually second guessing myself on the order, analogies, anecdotes, and appropriate amount of detail. Regardless, it’s going to be a rip-the-Band-Aid-off experience. I’ve heard a million ways to broach all of these topics. I’ve read articles and books on “raising boys” or transitioning to adolescence. I’m not sure if my plan is the right or best way to do this, but I am sure it has to be done.Now is the right time

Undoubtedly, some of you are wincing as you read this. Others (those who enjoy watching people trip on the sidewalk or take punishing hits in sports) would probably enjoy a Go Pro view on that day to witness in real-time the train wreck of awkwardness and bemusement. Others (not putting any wagers on percentages) are likely nodding in support or considering what you did/ should have done/ wish you’d said differently/earlier/ more directly.

Whether at work, at home, or in our community, life inevitably presents us with these critical but cringe-worthy moments and conversations. While incredibly tough, it is so much better to have them than to put them off or completely avoid them. When it comes to the college search and selection experience, the topic most families unfortunately do not discuss early or thoroughly is finances.

The Timing of the Talk

Any admission or financial aid director can share countless painful stories about families in April of the senior year who come to their office in tears. Having received a financial package, the reality of paying for college is upon them, and they have not had earnest conversations along the way.

Now, after the student has been offered admission, bought the college hoodie, and changed all online profile pictures to indicate they’re enrolling, financial lines are being drawn and emotions are running high.

If you are the parent of a junior, now is the time to start having these discussions. While you do not need to itemize all of your expenditures or accounts, you will be so much better off if you are willing to honestly and openly discuss your overall financial situation and how it relates to paying for college.

The truth is most students have no idea how much you pay in taxes, or what percentage of monthly or annual income goes to your mortgage. Understandably, they have not given any real thought to how adding college tuition may impact your family’s life and other financial obligations or goals.

“Opening the books” shifts the financing college conversation to a partnership and a collective investment. As a student’s first significant adult decision, they should be privy to the expense and implications of their college choice. These talks will help you have better discussions about opportunities to offset costs through jobs, co-ops, or internships. They will inform the questions you ask  about return on investment, careers, salaries, and how the school helps students pursue employment opportunities during and after college.

Yes, I understand this feels uncomfortable. Again, you are talking to someone who is about to discuss the darkest recesses of the interwebs with a 10-year-old. So let’s do this together!

Set Limitations

How much are you willing to invest in your son or daughter’s college education? Particularly in states with strong public university systems, we often hear parents say, “I am willing to pay for any of our state schools or the equivalent price, if my daughter chooses to go to an out-of-state public or private school.”  Consider and honestly discuss what limitations you want to establish. I’m not saying these should keep you from visiting or applying to a school that looks like it will cost more than your determined threshold, but setting limitations early will prevent feeling “gut punched” in April of the senior year when financial aid packages show up.

Set Conditions

“My parents will not pay for a school south of Virginia,” or “They have already told me I’m on my own if I look at schools west of Colorado,” or “We will pay for $40,000 a year for College X, but we are simply not paying that for Y University,” or (though short-sighted and not recommended) “we will only pay for a college that is ranked in the top 50.”

What are your family’s conditions, and why? College is an investment. Your family’s goal is to be confident in the dollars you spend. If you talk about why you are putting conditions in place, they will not come across as irrational or arbitrary, but rather instructive and rooted in love.

Talk about money
Photo credit: CNW Group/Credit Counselling Canada

Set Expectations

What role will/should your student have in paying for their own college education? Is there a flat amount or percentage you expect them to contribute? Setting clear expectations before applying to college allows them to consider how they can work and save money during high school, as well as ask colleges about opportunities for on-campus jobs, or the prospects for (and salaries associated with) internships or co-ops while in college. Instead of being divisive, setting expectations can unify your family because “the problem” of paying for college becomes a joint effort—one to solve together.

Discuss Loans

Last year, the average loan amount for students graduating from four-year colleges was approximately $30,000. Their average starting salary was approximately $50,000. Take some time to discuss the concept of loan tolerance and repayment. Check out our mock budget from The Money Blog and put some real numbers on paper.

I get you would rather be talking about The Voice or debating which Marvel movie should come out next, but having these honest, open,  and important discussions early is essential. Again, critical but cringe-worthy.

If you want to trade topics, let me know. I’ll come to your house and talk finances. You can go hiking with my son and walk him through what’s about to happen to his body. Just promise me you won’t be that family in April of the senior year in some college dean’s office passing the tissues, pointing fingers, and yelling things like, “I wish you’d told me!”

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Say It Again!

We want to hear from youLast November we made a plan for the blog.

We looked out at the spring and created a log.

To various staff we assigned certain weeks.

We wondered how to improve–what are the necessary tweaks?

That’s when we realized we really need you

To tell us how to be helpful, encouraging, and true

We really want to know what you think,

So please help us out and visit this link.  

In our original January blog plan, we were only going to send out the survey this week without any additional message or content surrounding it. But I convinced my sweet, amazing, beautiful editor/communications manager if we put the link in three times, y’all would still do it. Maybe it is from reading so many amazing applications lately, but I decided to go for four. Love you, Becky.

Decisions, Priorities, and Goals

Saturday we released admission decisions. As I write this, I have 164 emails in my inbox. I am going to give you one guess at how many are from students/families who were admitted… right—that would be one less than your number of guesses.

Here are some of the subject lines: “Concerns for admission process” or “Broken system.” Most of these messages include details about a particular student’s statistics and how they either compare to our published middle 50% ranges or to other students they know (or have heard from a second cousin twice removed) who were admitted.

At the heart of these notes (gentle euphemism) is a plea for the numbers to dictate, or a desire for admission officers to point to one particular reason why, the student was not admitted. We are never going to do that. Not because we aren’t willing to be transparent or because we are not good people (despite a few emails with some creative language asserting that opinion).

Ultimately, it is because holistic admission is completely counter to isolating numbers, sorting data in a spreadsheet, or putting all rationale for a decision on one single factor. Ultimately, both application review, and certainly admission decision-making (particularly at the macro level), are driven by an institution’s priorities and goals.

While I was listening to music on the train earlier this week, I came across a song that I had not heard in a while, “Say It Again” by Don Williams. I took particular note of that tune because it was such a stark transition from the songs that preceded it (“With My Own Two Hands” by Ben Harper and “So What’cha Want” by the Beastie Boys). Word to the wise: shuffle your full song history at your own risk. I’m not recommending you download “Say It Again” but the refrain stuck out to me: “Come on. Say it again.”

Since I was not supposed to really write anything this week (because of the survey), I decided to provide you a few greatest hits from the archives, as well as a couple quick listens, that may be helpful.

  • Admission: It’s Not Fair. This post further explains the concept of institutional priorities and mission, as well as how they dictate admission decision. Audio version here.
  • Handling Those Decisions. I recently had the opportunity to sit down with my friend and colleague, Mark Stucker who is a college counselor at KIPP-Atlanta and also has podcast called “Your Collegebound Kid.” In episode 49 and 50, we talk about how decisions are made, as well as how you can respond and take action once you have been admitted, denied, deferred, or waitlisted.
  • Be Cool. Another blog from the archive, particularly for admitted, denied, and waitlisted students, so I went back and recorded an audio version.

Have a great week. (Oh… and did we mention the survey?).

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The Magic is in You (part 1 of 2)

The alarm went off early in a pitch black hotel room. We didn’t shower, and we barely brushed our teeth before piling into the elevator to head downstairs. We grabbed some fruit, bagels, a bottle or two of juice, and anything else that was easy to eat on the go. Then, it was on to a quick shuttle to the Transportation Hub where we caught the monorail over to the gates of the Magic Kingdom.Disney World

We were ready. We had a plan. We’d loaded up our backpacks with food, clothes, and everything else we could possibly need the night before, and 10 minutes before the gate opened, we were at the ticket booth. You see, FastPasses to the Seven Dwarfs Mine Train are incredibly tough to get, and both of our kids were dead set on going on that ride. So in order to avoid the incredibly obnoxious lines that will bring any six- or eight-year old, and most 30- and 40-year olds, to their knees in tears, we had been advised by a Disney guru friend to make a b-line for that roller coaster. No watching the opening show, no lingering on Main Street to see a character, no taking a picture in front of the castle. GO, GO, GO!

“Can I see your tickets?” asked the friendly cast member. I pulled up the Disney App and handed her my phone. “I need to see the bar codes,” she said. “Bar codes?” I asked. “Okay… I’m not sure where those are, but here are the times we’ve reserved to ride certain attractions.” “Yes, but I need to scan your bar codes.” “Hmm….I know I had those in my email before I loaded everything in the app,” I told her. I began searching my email for the tickets. I don’t know about you, but when I most need to find something in my inbox, my search words and terms bring back messages from two years ago rather than the week before. Loading, loading…. “Crap,” I say (after all, we are at Disney).

Tick Tock (Croc)…

Five minutes have gone by now. I abort the email search. My daughter was pulling on my backpack, “Let’s go,” she begs. I look back at the woman in the booth. “The tickets were loaded into the app. Now I can’t seem to find them in email. Isn’t there a way to retrieve them from the app?” I point to the “My Tickets” function, and she holds the phone, peers over her glasses, and says, “I’m just not as familiar with the app.” The sun seems to have gotten much hotter and brighter as another five minutes pass. Finally she calls over another cast member who immediately locates them. “Oh. Yes. They’re right here.” I don’t see what she taps but apparently she’s found digits to input rather than bar codes to scan. There are four of us and the codes are a good 12 digits long. “A.3.5.T…..”

My wife is now looking at me, shaking her head, and showing me the time. 8:05 a.m. Finally, the agent finishes all codes. “And that does it! You’re all set. Have a magical day!” Bag checks, clogged gates, people grabbing strollers and stopping in the middle of the sidewalk to tie shoes and pick up kids… buy an ice cream from a street vendor? Come on people, it’s only 8:10. By the time we got to the Mine Train the wait time showed 45 minutes. We stood for maybe a minute, partly in amazement, partly debating if our kids could handle the wait, and partly figuring out if our daughter really needed to go to the bathroom or not. Then the sign turned to 60 minutes. “Forget it,” I said. “Let’s go ride Barnstormer.” For those of you who don’t know Disney, Goofy’s Barnstormer is a classic, standard roller coaster, meaning it does not have the fancy animatronics or story line of some of the more premier rides.

Rick ClarkTo make a long story even longer, the other two rides our kids really wanted to ride that day were Space Mountain and Splash Mountain. Splash Mountain never opened due to technical issues. Halfway through the line to Space Mountain it closed “temporarily,” only to remain closed the rest of the day. We re-routed each time. Due to closures we received complimentary FastPasses to Pirates of the Caribbean and Jungle Cruise, we got front row seats for the parade and later the fireworks, and ultimately, at closing (15 hours…well, technically 14 hours and 50 mins, after entering and 9.2 miles later) we literally carried our kids out of the park.

Our daughter cried about leaving until halfway down Main Street, when she fell asleep on my wife’s shoulder. Sitting on the monorail, I asked my son what his favorite part of the day was. “Barnstormer,” he said without hesitating. “So much fun.”

Barnstormer. Rode it twice and the lines were no more than 30 minutes all day. It’s what you call an “access ride.” It does not have a big name. It does not a have a long waitlist or fancy animatronics. No supply and demand problem. No strategy involved to “get in.” The next day, on the drive home, and ever since, our kids have been dressing like pirates and begging to watch The Curse of the Black Pearl.

“Our fate lives within us. You only have to be brave enough to see it.”

If you are a high school senior who did not have the exact Disney experience you were hoping for in the college admission process, here are a few lessons I learned from our trip:

  1. Don’t blame yourself. If you did not get in to your first choice college, do not spend April (and certainly nothing beyond it) replaying in your mind how things could have gone differently. “If I had just taken one more AP class, or scored a point higher on the ACT, or chosen a different essay topic…” Nope. Move on. You have acceptances in front of you. You have places excited to provide you a great college experience. Maybe it’s not what you had “loaded into your app” a few weeks ago, but now they’re excitedly waving you in. There are plenty of other students going to that school who feel like they just won a bonus FastPass. Get in line with them. Buckle up, commit yourself to the experience, and enjoy the ride.
  2. Don’t blame other people. “If that admission counselor had come to my school and met me… if my counselor’s recommendation letter had mentioned my Eagle Scout award…” “Ifs” will kill you in the admission process– and in life in general. The closed doors, long wait lines, and low admit rates of life are what ultimately guide and steer you down different paths. So rather than looking back over your shoulder at the “mights” or “could have beens,” take full advantage of the options you have been offered. My best friend in high school did not get into Princeton. He was crushed. It was his dream school and he was convinced it was the only place for him. But I’ll never forget the day in April (probably right around this time) when he came in wearing a UVA shirt and a huge smile. “I’m going to Charlottesville!” Get your heart, your energy, and your mind pointed toward something and somewhere rather than staring back at something that is no longer there anyway.
  3. Clear your head. Is all of this starting to sound the same? Well, expect more of it because at this time of year you have big decisions to make. And you need a clear head to do that. The truth is that whether you are into your first choice, denied to all but one, waitlisted at more than you would like to admit, or still trying to talk to the gate agent about why they can’t find your tickets, you are going to be on a college campus this summer or fall. And the truth, and frankly the most important part, is not “where” you go. The infinitely bigger point, and the real long-term impact, is “how” you go, and “who” you are when you go. That’s what you should be focusing on. CLEAR. YOUR. HEAD! Go fully committed. Go excited. Go humble. Go looking forward. Go ready to help those around you make it the best experience for them.

When I finally laid my head down on the pillow again that night, I realized what I hope you will. See, they tell you to “experience the magic” as if it’s in the park, or in the characters, or on the rides, or in the experience. But the real magic, it turns out, is IN you.

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The Waitlist… well….

Freshman admission decisions are out at Tech, and will soon be out at many other schools across the nation (if not already). As we mentioned in last week’s blog, emotions run high during this time of year, and it can be a stressful time for students, families, counselors, and admission staff.

When it comes to dealing with a decision of “waitlist,” there’s only so much to say… and last year Rick covered most of it in our 3-part series, “The Waitlist Sucks.” We hope you’ll check it out and learn more about the waitlist from the college perspective, the student perspective, and tips on what to do next.

The Waitlist Sucks

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Do Something New

Keeping it simple. Sort of…

My wife and I had a one-present Christmas, as in, one gift only to exchange. “Let’s keep it simple.” But while one present should be easy, it also adds some pressure. Do you go functional? Something she’s asked for to show I am listening? Or is that predictable and boring? Should I give her an experience (show tickets or a night away)?

In the end, I gave her a jacket. On the surface, that may sound lame. But this is not just any jacket. It’s the Patagonia Houdini, the best low weight, versatile jacket on the market. I’ll not delve into all of the virtues and attributes of the jacket, but message me if you want more testimony.

If you always do what you've always doneOn Christmas Day, after our kids ripped through their gifts like small, wild animals, I looked for her gift in anticipation. What would she choose? And what would that say about our relationship? This was particularly intriguing because rather than a big box or a new bike in the driveway (shoot!), there was a small envelope. “Tell me this is not a gift card!” was all that was going through my head. I know she’s got more creativity than that. I mean, gift cards are an uncle’s gift, c’mon.

I opened the envelope and read curiously. I was definitely surprised. Does this mean she loves me or hates me?  It was in fact a gift card… from her Yoga studio, a class called “Yoga for the stiff guy.” Six weeks to cover the basics of positions, poses, props, etc.

A Humbling Experience

I’m not going to lie to you. The first class was humbling. I think the instructor was pretty easy on us. I hung in there overall, but just when I started feeling more confident, she’d say something I could not even reconcile, like “Now, move your belly towards your thigh.” Wait, what? Balance, breathing, Bhakti. I was just trying to comprehend the language and instructions. At times I could sense her eyes scanning the room, and inevitably they’d land on me.  I’ve learned that “You may want to modify that”  is Yoga-speak for “you’re not ready for this.” And even when I thought I had mastered some poses, I’d hear “Oh no. Much, much wider.” Okay. Watch your much’s–one will do.

I was challenged.  I was humbled. But it has also helped me think more about my posture, my breathing, my core strength, and a general awareness of my body. I still don’t know how to bring my belly to my thigh, but I figure that comes in the latter part of the six weeks.

Incredibly Different

So as we launch into 2017, I’ve decided she gave me the perfect gift, because it’s such a divergence. So incredibly different. A nudge to grow and stretch (literally in this case).  Here are three reasons I hope you’ll also get out there and do something different in 2017.When was the last time you did something for the first time

1- You will see new places.

No matter where you live, your community focuses on a few colleges or universities. As a culture we get very myopic, especially among the most academically talented students, and focus on an incredibly small set of schools. I want to challenge you to at least visit, apply, and strongly consider attending a college nobody in your family went to, or a place nobody in last year’s senior class decided to attend. Not saying you need to actually attend, but do go see it. I guarantee you will learn, grow, and benefit from the experience.  The courage to explore…the desire to try something completely new and different, will lead you to places you’d otherwise never experience.

2- You will need to process. 

At some point in the college admission process, you will likely be deferred, denied, waitlisted, or receive a financial aid package that makes it impractical for you to attend a certain school. You will likely see someone “get in” or even get a scholarship when you do not believe it is right or fair.  This is called a “process.” But you need to remember it’s a verb too. Process things. Grow from your thoughts and your experiences. To do that you will need to clear your head and get perspective. Do something different. New music, new road trip, different type of podcast or book or movie. If you do this, you will grow. You will change. You will be preparing yourself in ways no AP or IB course ever could for what it means to really be ready for college.

3- You will challenge and ultimately make others around you better. Do you know someone who is always picking up a new hobby or listening to a new artist or reading something you’ve never heard of? If you don’t, go find someone like that. I have a friend who is a DJ, a Taekwondo master, and an airplane pilot. Another friend is a pediatrician who in the last few years has built box gardens, picked up the guitar, BMX racing, and is emerging as an accomplished storyteller in Portland. When I listen to these guys talk about their curiosity, lessons learned, and the people they meet and know, it’s inspiring. It makes me want to expand my knowledge, my skills, and my worldview.

Push, Stretch, and Be Challenged

At the end of the day, that’s what college should be about, right? To be surrounded by people who will push you, stretch you, and challenge you to be better, to be smarter, to explore and experiment and consider things that you have not to this point. It’s easy to list school size or location or cost or other highly quantifiable traits. But as you pick schools to visit, apply to, and ultimately attend, these are the types of communities that you should be listening for in talking to students, faculty, and alumni.

I’m currently reading Grandma Gatewood’s Walk. It’s the story of a 66-year old mother of 11 and grandmother to 23 who in 1955 left her Ohio farm with a pair of Keds and a hand-sewn bag to become the first woman to thru-hike the Appalachian Trail from Georgia to Maine. It’s remarkable because after a lifetime of intensely hard work, a marriage riddled with physical and mental abuse, and years of pouring her life into raising a family, she walks into the woods. Her experiences inspired our nation. And many say her reports from the trail “saved the Appalachian Trail.” We all need those outlets that give us vision beyond the immediate. I’m urging you to try something new and different this spring. Namaste.

By the Way…

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