Does CAPlus really work?
We are often asked, “Does CAPlus really work?” Here is a real-life example from our files to give you an idea of how we can help families save money.
This particular student went to a very small high school with a graduating class of less than 50, and he ranked fourth in his senior class. The parents were extremely disappointed concerning the lack of support from the high school’s guidance department, who suggested only State University of New York colleges.
The student had an SAT score of 1840, which indicated to CAPlus that he would be attractive to “moderately selective” admission colleges. The family of six had a modest income, including rental properties. During the student’s senior year the father was laid off from his job as a land surveyor.
The student had conservative values and was interested in Political Science, within six hours drive-time of his home in Western New York. The CAPlus college database search yielded a “short list” of the following New York, Pennsylvania and Ohio colleges: Thiel College, York College, Westminster College, Muskingum University, SUNY Geneseo, SUNY Buffalo, and Waynesburg College.
We created a Personalized Needs Analysis Report on these colleges using the family’s financial picture and the student’s academic achievements. We found that Westminster, Waynesburg, and Muskingum should yield the most cost-effective financial aid awards.
Submission of the student’s FAFSA required our expertise in understanding the rules about the appropriate valuation of rental properties and job loss. This resulted in a dramatic lowering of the student’s Expected Family Contribution.
The student received strong financial aid awards from Westminster, Muskingum and Waynesburg (all lower than SUNY college annual costs!!) and determined that Waynesburg was his first choice. An appeal letter to Waynesburg resulted in an additional grant of $3,000 per year, and the student will be attending Waynesburg for slightly more than $6,000 per year out-of-pocket costs.
About Theresa Markham
Theresa is an RIT graduate with a degree in Business Administration. After years of experience in commercial real estate development, she stayed home to raise three children and is now a customer service rep at CAPlus.
