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Taking the Next Step |
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Before enrolling, make appointments to visit the colleges
or career schools you’re considering. Bring a list
of questions to ask school representatives. Your education
is a major investment, so find out as much information
as you can before you enroll.
What Information Do I Need to Get from
a School?
You should ask about the school’s accreditation, licensing,
student loan default rate, and campus security.
- Find out the school’s loan
default rate (the percentage of students who attended
the school, took out federal student loans, and later
failed to repay their loans on time). You might not be
able to get aid from some of our programs at a school
that has a high default rate.
- Talk to high school counselors, local employers, and
your state higher education agency. You can also see if
any complaints about the school have been filed
with the local Better Business Bureau or the consumer
protection division of the state attorney general’s
office. You can search for Better Business Bureau
offices at www.bbb.org.
Find out the school’s job placement rates (the percentage
of students who are placed in jobs relevant to their
courses of study).
- If the school advertises its job placement rates, it
must also publish the most recent employment
statistics, graduation statistics, and any other information
necessary to back up its claims. This information
must be available at or before the time you
apply for admission to the school. Also, check with
local employers to see whether they have hired
graduates from the school.
Find out about financial aid at the school.
- You have the right to receive
the following information from the school:
• what the location, hours,
and counseling procedures are for the school’s
financial aid office;
• what financial assistance
is available, including federal, state, local,
private, and institutional financial aid programs;
• what the procedures and
deadlines are for submitting applications for each
available financial aid program;
• how the school selects
financial aid recipients;
• how the school determines
your financial need;
• how the school determines
each type and amount of assistance in your financial
aid package;
• how and when you’ll receive
your aid;
• how the school determines
whether you’re making satisfactory academic
progress, and what happens if you’re not (whether
you continue to receive federal financial aid
depends, in part, on whether you make satisfactory
academic progress); and
• if you’re offered a Federal Work-Study job, what
the job is, what hours you must work, what
your duties will be, what the pay will be, and
how and when you’ll be paid.
Find out about the school’s refund policy.
- If you enroll but never begin classes, you should get
most of your money back. If you begin attending
classes but leave before completing your course work,
you might be able to get part of your money back.
Find out about the school’s return-of-aid policy.
- If you receive federal student aid from any program
mentioned in this publication (except for Federal
Work-Study), and you withdraw from school, some
of that money might have to be returned by you
or your school. Also, even if you don’t finish your
course work, you’ll have to repay the loan funds you
received, less any amount your school has returned
to your lender.
Find out the school’s completion and transfer-out rates.
- If many students withdraw from a school, it might
not be a good sign. A school is required to disclose
to current and prospective students the percentage
of its students who complete the school’s programs
and the percentage of students who transfer out of
the school.
You also might want to compare your expected debt
for attending the school with the money you expect
to earn once you complete the educational program.
If you borrow money to pay for all or a portion of
your education, you’ll need to earn or have access to
enough money to repay your debt. Check the Web or
visit the library to learn more about the careers you’re
interested in pursuing. The U.S. Department of Labor
publishes the Dictionary of Occupational Titles, which
includes a list of career choices and information on
typical wages or salaries for many occupations. The
Labor Department also publishes the Occupational
Outlook Handbook, which gives job descriptions,
including starting salaries and annual income averages.
You can find the Dictionary of Occupational
Titles online at www.oalj.dol.gov/libdot.htm. You
can find the Occupational Outlook Handbook online
at www.bls.gov/oco.
Make sure you get the information you need and
check out all your options as you prepare for education
after high school—and don’t wait until the last
minute to get started! Know what to expect from the
schools you’re considering and get your FAFSA in early
in the award year to see if you qualify for federal student
aid. Be smart—be ready.
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