I wish I could give nice, concrete, set-in-stone answers for everyone. Especially when it comes to money, it's so important to get answers. But paying for college is a lot like buying a house. It requires a lot of estimation as well as serious research.
Are there any charts out there that break down SAT and ACT scores and scholarship dollars? I understand that all colleges do not cost the same and the dollar amount in scholarships offered would vary, but isn't there some type of generic guideline? ~ Chris
There are no general guidelines, and no charts I can provide that tie test scores to money. A regular college in my area will offer about $8-10,000 off tuition for certain SAT or ACT scores. An Ivy league school, or very selective school might not offer anything. A highly rated college in North Dakota or Alabama might offer a full ride scholarships for the same SAT or ACT score. The only way to estimate your cost is to look up scholarship information on each college where you plan to attend. All you can do to get your own generic guidelines based on the colleges where your child will apply. Even similar schools in similar areas will have dramatically different offers.
Some colleges will give automatic academic scholarships based on SAT or ACT scores. Other times the college admission adviser or representative may have some discretion. That's why I'm always preaching about the big ideas for scholarship success:
1. Apply early
2. First-come is first-served
3. Do it their way
4. Make it easy
College admission contacts have money to give. Your job is to offer them a reason to give it to you.
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