High School

Have the chat about paying for school

It’s a difficult conversation to have, but families who have an early discussion to clarify who is paying for what and how much the family can afford will find the final school selection process easier.

Family financial fitness

Families who start thinking about how to pay for higher education when their student starts high school have more options. Start by paying down debt and resisting the urge to take on new expenses. This helps make room in the monthly budget for a tuition payment plan. Families who take a piecemeal approach, which can include financial aid, savings, tuition payment plans, merit aid, student summer earnings, and scholarships, find paying for higher education more manageable.

Continue exploring career and pathway options

• Research in-demand jobs in Maine and the schooling needed to do those jobs.
• Explore your interests or hobbies, and how they might relate to a career. Learn more about potential careers and what you might need for education or training.
• Considering a skill or trade? Consider programs available at your local Career and Technical Education center.

Learn about the financial aid process

Financial Aid Information Sessions are held in person at many high schools as well as virtually. Ask your school counselor when a presentation will be held at your school. Don’t wait until senior year to attend. The more you learn now, the easier it will be when you are a senior and need to apply for financial aid. Download and read FAME’s publication PAY: Tips to Afford Higher Education for detailed information about paying for higher education.

Research schools

Research schools with a focus not only on major and location, but also affordability. When researching for schools, focus on net price, not sticker price. To get a sense of net price, use each school’s Net Price Calculator which can usually be found on the financial aid section of each school’s website. Start putting together a tentative list of schools to apply to senior year.

Here are two helpful tools you can use to research different schools:

• The College Board’s Big Future
• The U.S. Department of Education’s College Navigator

Start searching for scholarships

Though you won’t typically apply for scholarships until your senior year, you can start searching for scholarships much earlier. Having a list of potential scholarships (and the related application requirements) ready to go early in your senior year will make the application process easier.

Attend college fairs

Talking with representatives from the colleges you are interested in attending can help you decide if you want to pursue that college further. You might also learn about some schools that weren’t on your radar.

New England Board of Higher Education (NEBHE) 

Some state universities in New England offer reduced tuition to Maine students pursuing a program that is not offered in Maine. For more information on reduced tuition at an out-of-state school, visit the New England Board of Higher Education’s website.

Take any required tests

Be sure to understand what each of the colleges you are interested in require for standardized tests. Not only may certain tests be required for admission, but some colleges also use these tests to determine eligibility for merit scholarships. Check with your school counselor for registration information and testing dates.

Research careers

What would you like to do? Research different jobs and learn what type of education you’ll need to achieve your career goals.

• Maine Career Center – Explore careers, training and jobs in Maine.
• Career One Stop – Explore careers, training and jobs throughout the United States.
• FAME Student Loan/Salary Calculator – Make informed student loan borrowing decisions.

Build a list of schools

Build a list of schools, including schools that appear to be affordable. Many factors determine which schools might be a good fit. But too often, affordability isn’t considered until late in the process. When searching for schools, focus on net price, not sticker price. Make sure that your list includes a school that is affordable even without great financial aid. For some students, community college and/or trade-based certificate programs are a good option.

Apply for admission

Most admission applications are on each college’s website and can be submitted electronically. Many schools also accept the Common Application. Keep track of deadlines. Learn about admissions options, such as Early Decision or Early Action.

Apply for financial aid

Make sure you are ready to apply for financial aid by knowing what the required forms and deadlines are for the colleges that interest you. Track required forms and deadlines. All students should file a FAFSA as soon as possible after October 1 of their senior year. Be sure you understand what happens after you file the FAFSA, and follow up as necessary. Have questions? Attend a FAME FAFSA Help Session.

Compare financial aid offers

Financial aid offers all look different, making them hard to compare. To help get an “apples-to-apples” comparison, families can use FAME’s Comparing Costs and Financial Aid Offers Worksheet. If borrowing is needed, families should use FAME’sStudent Loan/Salary Calculator to get a better understanding of the return on investment.

Research graduation rate and job placement

Before making a final decision about school selection, research the graduation rate and job placement statistics of colleges you’re interested in attending. Higher graduation and job placement rates often signify a school with a strong professional network and successful internship or job placement programs.

Financial wellness

No matter where you are in life, it’s never too early or too late to establish sound money management practices. Learn more about setting financial goals, creating a budget, saving and investing, and credit-related topics by visiting FAME’s Financial Wellness page.