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Annual Survey of Parents Finds 63% of Students say their post-high school plans are returning to normal

The pandemic caused havoc on the college admissions process as Colleges were unable to use traditional recruiting means to reach students. Many students upended their plans and the traditional tours of colleges were cut all together for them. Financing that College education also took on more angst as many parents jobs were lost or put on hold. A new study conducted by Discover Student Loans shows things are beginning to return to normal for many students and their parents. Some findings from the survey:

  • Sixty-three percent of parents say their child’s post-high school plans have returned to what they were before the pandemic.  
  • 40% of parents say their ability to help their child pay for college has improved since this time last year.
  • Nearly three-in-four parents say they will pay for half or more of their child’s education.  
  • 43% of parents say they won’t limit their child’s college choice based on price – up 10 percentage points from 2018. 
  • However – 63% of parents remain concerned about having enough money to pay for their child’s education.  
  • 38% of parents say paying for college is their child’s top anxiety about attending college – followed by applying for scholarships and aid (30%) – all of which outranks choosing a major and tackling more difficult classes. 

Families are working together to find a plan to pay for college.  

Over half (59%) of parents say the pandemic caused them and their student to have more candid conversations about how their family will pay for college. While 41% of parents don’t feel like they started saving early enough, up from 37% in 2019, most are planning to leverage a mix of resources to finance college. 

When asked how they were going to finance college, 61% of parents say the pandemic has not impacted how they plan to pay. Scholarships/grants (47%), savings (45%) and student loans (37%) continue to be the most popular financing options among parents. Notably – 11% of parents report they will forego saving for their retirement to help their student pay for college.  

“It’s important that parents and students discuss how the cost of college is getting split in a way that’s realistic and comfortable for all involved”, says Manny Chagas, VP of Discover Student Loans.. “Utilizing free online tools and resources, like budgeting calculators and planning calendars, can help families make smarter college financing decisions.” 

About the Survey 

All figures, unless otherwise stated, are from a Dynata (formerly Research Now/SSI) survey conducted on behalf of Discover Financial Services. The survey was conducted online; fielded from May 10 – May 15, 2021 with a total sample size of 1,000 US parents of college bound students. The margin of sampling error was ±2.53 percentage points with a 95 percent level of confidence.  

Advantages and Disadvantages of an Ivy League Education

Your students have a significant decision on deciding which schools to apply to. And if they are a high-achieving student, they are likely to apply to an Ivy League school.

Everyone is aware of the “Ivy League,” a group of eight private schools defined by their membership in the same collegiate athletic conference. The Ivy League includes Harvard, Yale, Princeton, Brown, Dartmouth, Columbia, Cornell, and the University of Pennsylvania. But what holds these eight schools together is more than their athletics—it’s their commonly shared world-renowned academics, prestige, and—obviously most anxiety-inducing— exclusivity, as evidenced by their low acceptance rates.

So how will your students know if one of these universities would be the right fit for them? Is attending an Ivy League even worth it?

In this article, we’ll look at some of the benefits of attending an Ivy League, while digging into some common doubts.

 

Advantages of being part of an Ivy League Education

World-class peers and faculty

The very environment of each of these prestigious universities is such that you will be surrounded by exceptional students in the classroom, food hall, and dorm. Not only each student selected to an Ivy League university has excellent test scores and academic performance, but also most Ivy League undergrads are also proficient in extracurricular activities and actively engaged in their communities.

Such kind of a fantastic student body leads to an enriching academic and social experience for all students.

These schools don’t just attract the best students, but some of the most world-renowned faculty as well—winners of Pulitzers and Nobel Prizes. Because the materials of Ivy League schools allow them to offer small seminars taught by top-notch faculty, even to newcomers, you will have direct access to brilliant researchers and academics.

As a Harvard student, you will be able to choose from a range of freshmen seminars such as “Broadway Musicals: History and Performance,” personally directed by Carol Oja, the Chair of Harvard’s Department of Music and Leonard Bernstein Scholar-in-Residence at the New York Philharmonic.

At Yale, you can take the freshman seminar “What History Teaches” with Pulitzer Prize winner and renowned historian John Gaddis.

That’s one of the significant differences between Ivy League schools and large public universities. The more prominent public universities no doubt have excellent teaching staff, but they may have comparatively less time with students, and be more concerned with publishing, issuing, or researching. More prominent Ivy League universities like Cornell and smaller colleges like Dartmouth alike put more emphasis on teaching.

Lifelong Ivy League network with World-class people

You will not only benefit from interacting with other excellent students and teaching staff during your four years of college. Your peers will go in several directions to pursue a wide variety of careers, indicating you will have access to a top-notch network for the rest of your life. Your network will also include the many notable faculty and alumni.

The advantages of such a network can begin as early as freshman year. At Yale, the Office of Career Strategy connects students to internships in various disciplines through Yale parents, alums, donors, and employers who are eager to hire Yale students.

Talking about Princeton, you can find similar internship opportunities in the United States and abroad through the International Internship Program. Every Ivy League school university will provide you with an alumni database that you can access to help find your dream internship.

And if there is a particular field you would like to attend, getting into an Ivy League may give you a good push-up. Harvard is known for having a robust entertainment industry network, organized as “Harvardwood.

Research also proves how Ivy League graduates are overrepresented in leadership roles in the business, art, corporate and political worlds. One study showed that nearly a third of Fortune 500 directors and CEOs graduated from elite universities (note that these universities were not limited to the Ivy League).

Availability of resources

Ivy League schools command a considerable amount of resources. With their vast endowment funds, each of these schools can easily afford to offer research funding, Broadway-level performance spaces, massive libraries, and the support you need to start your distinctive extracurricular group, academic project, or small business.

Also, each Ivy League school provides a unique set of offerings, and you should consider which of these schools commands the resources that best fit your interests.

Ivy schools will have access to eminent faculty and studio space at Brown University if you are a potential visual artist. If you want to pursue a foundational education in social science and humanities, you would like to attend Columbia University for its Core Curriculum or Yale University for its Directed Studies Program. Or, if you are someone who likes thrill in life and access to hiking trails, skiing, or cabins, then you can rent through their college; Dartmouth might be a perfect fit.

Name recognition

People often talk that there isn’t much value to an Ivy League diploma other than the name. The truth in this statement is that “the name” does carry some value. Besides, serving as an entry point to the alumni network, an Ivy League university listed in your resume can help you get your first job out of college, as well as internships and other tremendous opportunities while you’re in college.

Ivy League schools took up half of the slots in the top ten of the 2019 Global University Employability Ranking, compiled based on the perspectives of job recruiters.

While research shows being a part of a selective institution may not positively impact student education, job satisfaction, or well-being, attending an Ivy League or comparably elite university has been found to have a measurable positive effect on future earnings for some students populations.

Attending a university with a 100-point higher average SAT score (most Ivy Leagues fall under this category than most other schools) has been found to increase future earnings for women by 14 percent. And another study showed that students from low-income backgrounds who attend elite colleges on average earn more than those from low-income backgrounds who attend less prestigious schools.

Attending an Ivy League college can also provide students with an edge if they decide to apply to graduate school.

Disadvantages of Attending an Ivy League School

Very Expensive tuition fees

One commonly held assumption about Ivy League schools is that they are expensive. Tuition and board for these schools are not cheap. In 2019-2020, the average sticker price of tuition and fees at an Ivy came to $54,414.

But while this number is undoubtedly high, it is also somewhat misleading, given that these schools generally have large endowments and can offer generous financial aid packages to all students with financial needs.

For example, while Yale’s cost of tuition and fees in 2019-2020 was $55,000, the average price for all Yale students, after factoring in financial aid and grants, came out to just $17,000, with the intermediate need-based scholarship offered coming out to $55,100. At Brown University, the most recent average financial aid award was $42,445, and at Princeton, that number came out to a whopping $53,100. Every Ivy League university needs blind, meaning that the ability to pay for college won’t hurt any student’s chances for admission.

And if your child does graduate from an Ivy League with loans, they’re likely to go on to make more money than their peers who attended other colleges, meaning they’ll be able to pay off those loans sooner.

The amount of need-based financial aid many Ivy League students receives and the ultimate return on investment helps explain why U.S. News ranks seven out of the eight Ivy League schools in the top twenty of their “Best Value Schools” (Cornell, ranked at #23, is just outside of the top twenty).

Crazy Competitiveness

Many parents worry that sending their child to an Ivy League will mean sending them to be a small fish in a big pond. The freshman year of college can indeed be an adjustment period for students who are used to leading within their high school classrooms or those encountering imposter syndrome and worrying they can’t compete with their peers.

However, your child will soon realize that she was admitted because the admissions committee knew that she would excel in an environment where equally engaged academic leaders would surround her. In general, there’s a sense at Ivy League universities that instead of competing for a few plumb internships, educational opportunities, or, eventually, jobs, there is room for everyone in the student body to thrive. 

A non-representative student body

Ivy League schools have a reputation for admitting legacies and other students who aren’t representative of the U.S.’s socioeconomic and racial diversity. They have also been criticized for failing to support undergraduate students of color. And a group of Asian American students recently sued Harvard for discriminating against them with their admissions policy.

While the Ivies still have a long way to become more inclusive and supportive institutions, they have made strides in recent years. Previously mentioned generous financial aid policies allow these universities to offer financial support to students from low-income backgrounds. The undergraduate communities at these schools are also becoming more racially diverse, with the majority of Harvard’s incoming class being nonwhite for the first time in 2017 and 55 percent of students accepted into Cornell’s class of 2023 identifying as students of color.

Low student to faculty ratios

 

While most Ivy League universities are not considered “small,” with undergraduate enrollment ranging from around 4,000 at Dartmouth to over 15,000 at Cornell, the level of resources they offer means that your child may receive more individual, personal attention than they would many other colleges. The Ivies have a low student-to-staff ratio, with Yale’s the weakest at 5.4 students to every staff member.

At an Ivy League school, your student will also have access to various academic and student life advisors, tutors, and one-on-one relationships with professors. Residential advisors may be more involved and supportive than they would be at other schools, with Yale’s First-Year Counselor Program and Harvard’s Proctor Program giving first-year students the chance to foster relationships with exceptional upper-level students who can help with the transition to college.

Conclusions

Gaining admission to an Ivy League university is never easy. That adage about the most challenging part is getting in isn’t entirely accurate either, but should your child be accepted at one of these schools, a wide range of benefits will be available to them. If your child will be served by what an Ivy League university can offer, applying is worth the effort.

 

Chirag Arya is the Founder, AP Guru

High School Counselor Timeline

This is a general timeline of activities and tasks. The counseling department and/or you in particular don’t necessarily do everything listed. Depends on your duties and grade levels.

JULY :

Update transcripts with summer school grades and finalize/change schedules.

Summer registration for previously enrolled and new students.

Meet with senior students and parents who need all or extra credits to graduate.

Check the transcripts of your students against their schedules to make sure they have what they need to graduate. Make a list of those that need credit recovery.

Check schedules for special populations (IEP, ESL, 504 students) to make sure they are properly placed. You will need info from their caseworker or access to the IEP.

Create an account on Send U and Common Application. You will receive emails to complete recommendations and upload transcripts through these. You will need to upload the most recent school profile.

Assign NCAA Eligibility Center Administrators and check master course list.

AUGUST:

Schedule changes per school policy.

Register New Students.

You’ll need a school profile to put in with admissions/scholarship applications. Lots of them ask for a copy. NACAC and College Board have tons of examples.

Get students set up with credit recovery and notify the credit recovery teacher.

PSAT Sign Up.

SURVIVE!

SEPTEMBER

Q1 Progress Reports.

Attend College Board Counselor Workshop. Register on their website. SAT, AP, CLEP,and PSAT info and updates. They also do a different workshop strictly for NEW counselors that is really good.

ACT College and Career Readiness Workshop—FREE to attend. Register online to attend.

Financial Aid Meeting Seniors, Night Financial Aid Overview for Parents.

Class Visits All Grades—Intro and General Info.

AP Testing Registration.

OCTOBER

Q1 Report Cards.

PSAT testing for juniors and sophomores—normally done through sign ups and students pay a fee. There are fee waivers. Pre-administration session saves LOTS of time. Two national test dates. Enters them in National Merit Scholarship competition,

Hugh O’Brien Youth Leadership (HOBY)—For 10th graders—application process.

Seniors State ACT Re-take.

Oct. 1st FAFSA opens (Free Application for Federal Student Aid)—Students must complete to get financial aid for college.

FAFSA Help Workshop for parents.

AP Testing Registration.

NOVEMBER

Lots of college apps and scholarships becoming due at this time.

ASVAB testing.

Start transcript, schedule, and grade reviews in preparation for spring course registration.

Start planning spring course registration.

DECEMBER

Lots of scholarships due at this time.

PSAT score return.

Spring course registration planning.

Diploma Order Forms.

JANUARY

1st Semester report cards.

Lots of college scholarship deadlines.

Course registration planning for next school year.

New students & schedule changes per school policy or if failed fall classes.

Semester Teachers—Don’t forget to give out 504/IEP/Gifted/ESL info to teachers to any students who have new classes.

Check senior graduation status and transcripts for correctness—re-rank in February.

FEBRUARY

Course registration activities—Usually course requests need to be checked over with a full number of credits before spring break so admin can present staffing needs to district.

Lots of college scholarships due.

Q3 Progress Reports.

MARCH

1. Q3 Report Cards.

Check seniors 3rd quarter grades.

Local scholarships start coming out.

Check diploma order form excel to determine which awards/honors students qualified for.

APRIL

Q4 progress reports.

Start Awards Day planning and data collection.

Senior transition survey Google form—Plans after high school, where to send transcripts, phone numbers to be reached.

Local scholarships due.

Start next year’s schedules once master schedule is completed (may not happen until summer).

Update NCAA Eligibility Center Master Course List.

Hound the seniors!

MAY

AP testing.

Add the weighted quality points to students who took AP tests.

ACT score return.

Awards Day & Senior Decision Day.

Work on schedules.

Retainees and summer school candidates.

Double check transcripts before grades go out.

SURVIVED PARTY!

JUNE

1. Work on schedules.

Double check senior transcripts & post final rank.

Send final senior transcripts.

Send NCAA and NAIA final transcripts.

Send final transcripts through Common Application.

Double check underclassmen transcripts & re-rank.

Move/update records.

This information was adapted from information posted by Ashley Sievers, a High School Counselor in Tennessee, to the High School Counselors Group on FB

Articles Scheduled for 2021/2022 LINK for Counselors

We took your feedback on subjects you want to see covered this school year and have come up with a great slate of articles for this year. Here is a summary of articles that we already have in-house and more to come as well:

Scheduling and Social Justice: Your Underscored Power – By Sweety Patel, Counselor at Carteret Public Schools in New Jersey

Students with Disabilities: How to Get Them Ready for Postsecondary Education – By Hawa Allarakhia, Graduate Assistant in the Office of Diversity, Equity and Inclusion, USF

Why and How to Evaluate the Quality of a College’s Major – By Carolyn Kost, Counselor and Author based in Palm Beach, Florida

ELL and College – By James Paterson, Former Counselor of the Year Montgomery, MD (a large Washington, DC area suburb) (This will run in the Spring 2022 issue)

Best Strategies for Searching for Scholarships – By Rebecca VanderMeulen, Counselor at St. Elizabeth High School in Wilmington, Delaware

Applying to College: 7 Tips for a Stress-Free College Application – Shanell Leggins, Associate Director of College Guidance, Archer School for Girls, Los Angeles, California

Careers to Consider: Data Science and Occupational Therapy: Healthcare and Data Collide evermore during the past 18 months – By Dr. Jeffrey T. Gates, Senior VP for Student Life and Enrollment Management, Utica College

Accelerated Medical Programs for High School Students – By Elizabeth Drucker

Accelerated Law Programs for High School Students – By Elizabeth Drucker (This will run in the Spring 2022 issue)

Study in the UK – By Ryan Astor, Client Success Manager, Sannam S4, Inc.

The Post Pandemic Implications, By Heather Couch, Counselor at Batavia Middle School in Ohio

Supplemental Essays – By Brittany Maschal, Owner/Founder of Brittany Maschal Consulting

Careers to Consider: Communication Sciences and Disorders – By Mary T. McDermott, Ed.D., CCC-SLP, is the Program Director/Asst. Professor, Communication Sciences & Disorders at Gannon University

Work Study – By James Paterson, Former Counselor of the Year Montgomery, MD (a large Washington, DC area suburb) (This will run in the Spring 2022 issue)

The Myth of the Full Ride: Understanding Aid Opportunities – By T. Stone Yeatts, Admissions counselor at the University of North Carolina Greensboro

SAT-ACT Post Pandemic – By Evan Wessler, VP of Method Test Prep

Not Sold on College – By Dawn Marie Barhyte

Sophomores – By James Paterson, Former Counselor of the Year Montgomery, MD (a large Washington, DC area suburb) (This will run in the Spring 2022 issue)

Scholarship Watch – By Scholarship Owl

How to Help Your Students Parse Any Prompt(including the new Common App Prompt) – By Kim Lifton, President, WOW Writing Workshop

Special Transfer Section

Transfer Credit – By James Paterson, Former Counselor of the Year Montgomery, MD (a large Washington, DC area suburb)

10 Famous People Who Transferred

Community College to University: Frequently asked questions from a Student Services team member – By Julianna Olsen, Disability Resources & Student Life Director at Brunswick Community College

Transfer Up – By James Paterson, Former Counselor of the Year Montgomery, MD (a large Washington, DC area suburb)

Two new scholarships for your students

We have recently been made aware of a couple of new scholarships available for your students. Here are the details on both:

  1. Digital Monk is offering your students the opportunity to exercise their writing skills and compete for a $500 scholarship award.

They would like to hear your students thoughts on ONE of the following topics:

– What is the Future of Online Learning?
– Comparison of Online Learning and Traditional Learning
– Should Online Learning Be Encouraged?

The article must be written in the English language and can’t surpass 500 words. Only one application is permitted per person (that is, they should select only one topic and send one article).

Eligibility Requirements:

To be accepted for participation, your student(s) must meet the general entry terms:

– Graduate, postgraduate, and undergraduate students of an accredited college or university of the United States.

– High-school students enrolled in an accredited US college or university in the Fall 2021 semester.

– An eligible applicant must be a citizen or a legal resident of the United States.

– Must provide your written essay by the deadline of November 1, 2021.

All essay submissions should be sent to: scholarship@digitalmonk.org

2. The Kaplan Group’s annual $1,000 scholarship is available to any undergraduate or graduate student pursuing a business or law-oriented degree program with a GPA of 2.5 or higher.

Applications for the scholarship are due August 15, 2021

Full details of the scholarship can be seen here:

Changes to FAFSA that make completing it a whole lot easier for families

There are five major changes coming to FAFSA. Here’s what they are: 

  1. The FAFSA is getting shorter: The number of questions on the FAFSA form will be capped at 36. This is a significant reduction from the current 108 questions. Some tax information – like tax returns – will also be automatically imported going forward, which will simplify the process for federal aid applications.
  2. The Expected Family Contribution (EFC) is being replaced: Currently, each student is assigned an EFC based on factors such as family income and number of household members. This will be replaced by the Student Aid Index (SAI) to make more clear to students that this number is used to decide on an appropriate amount of aid, rather than requiring their families pay a specific amount of money. The SAI can also be negative for low-income students most in need of aid, which isn’t the case for the EFC, which can only go as low as $0.
  3. More people will soon be eligible for Pell Grants: Pell Grant eligibility will no longer be based on EFC, but instead on gross income and family size. Students currently excluded from eligibility for drug-related convictions as well as incarcerated students in prison education programs will also become eligible for Pell Grants, as will people who qualified for student loan cancellations in the past.
  4. The time limit for Direct Subsidized Loans eligibility is changing: The current federal student aid rules limit eligibility for Direct Subsidized Loans to 150% of the time a school says it will take to complete an academic program. This will no longer be the case, and students will be able to get aid for as long as their schooling actually takes. This doesn’t mean Direct Subsidized Loans are unlimited, though. You can still max out your loan eligibility.
  5. Financial aid administrators will have more opportunity to offer aid during national emergencies: More flexibility will be provided to offer additional aid by taking into account prolonged periods of unemployment during a disaster.

What this means for students and parents

Because these changes make the FAFSA easier to complete, it may mean more future college students and their families fill out the forms and become eligible for federal financial aid. The EFC rules change that makes it easier for schools to identify students with substantial financial need may also open up the door for more people to get an affordable college education.

This information was provided by Credible. They offer a listing of private loans here.

The School Counselor’s Guide to Surviving the First Year

A great book is available for Counselors written by Heather Couch, a Counselor at Batavia Middle School in Ohio. This practical guide includes topics from internship to professional development from an intimate perspective within the context of real-life scenarios. Drawing from personal experiences, journal articles, textbooks, and excerpts by numerous professional school counselors, it fuses what a school counseling trainee learns in their graduate program and the field experience they get into one unique guide. Emphasizing hands-on approaches, this volume offers personal as well as professional steps toward success in the ins and outs of counseling.

The Publisher, Rutledge, Taylor & Francis Group is now offering a 20% discount to any Counselor interested in purchasing the book. Here is a link and enter discount code FLR40 to get the discount – https://www.routledge.com/The-School-Counselors-Guide-to-Surviving-the-First-Year-Internship-through/Couch/p/book/9781138364325

The book is also available on Amazon. Here is that direct link – https://www.amazon.com/School-Counselors-Guide-Surviving-First-ebook/dp/B082MRT2RS/ref=tmm_kin_swatch_0?_encoding=UTF8&qid=&sr=

2021-2022 Common App Essay Prompts

The common app essay is the main personal statement students submit to colleges that 1:Use the Common Application and 2:Require the essay. Your personal statement gives you the chance to delve deeper into your experiences, interests, passions and strengths.

Some students have a background, identity, interest, or talent that is so meaningful they believe their applications would be incomplete without it. If this sounds like any of your students they can share their story.

The lessons we take from obstacles we encounter can be fundamental to later success. Students should recount a time when they faced a challenge, setback or failure. How did it affect them and what did they learn from the experience?

Reflect on a time when they questioned or challenged a belief or idea. What prompted their thinking? What was the outcome?

Reflect on something that someone has done for them that has made them happy or thankful in a surprising way. How has this gratitude affected or motivated them?

Discuss an accomplishment, event or realization that sparked a period of personal growth and a new understanding of themselves or others.

Describe a topic, idea or concept they found engaging that makes them lose track of time. Why does it captivate them? What or who to they turn to when they want to learn more?

Share an essay on any topic of their choice. It can be one they have already written, one that responds to a different prompt, or one of their own design.

  • COVID-19 has affected students in drastically different ways. If they need to, the COVID-19 and natural disaster question in the Additional information sections of different application programs are a place for them to describe the impact of these events. The question is not intended to be an extra essay. There is also no need to describe how their school responded to these events. Instead, consider how these events may have impacted them, their family, and their learning environment.

Examples might include:

  • Illness or loss within their family or support network
  • Food insecurity
  • Employment or housing disruptions within their family
  • Toll on mental and emotional health
  • Access to a safe and quiet study place
  • A new director for their major or career interests
  • New obligations such as part time work or care for siblings or family members
  • Availability of computer or internet access required to continue their studies

This information is from a document created by Irving, Texas High School Counselor JB Jones and posted to the HS Counselor Group on FB

Students need to save money – Car insurance is one of their biggest expenses

Lets face it, most students are strapped for money. College continues to get more expensive and saving every dollar they can is very important. Car insurance is one of the most expensive costs they will have as teens/students have some of the highest insurance rates. College students typically pay thousands of dollars more than any other group.

Taking the time to search out the best car insurance deals can be worthwhile and can save hundreds or even thousands of dollars over the course of a students college career. Some of the best car insurance student discounts include:

  • Good Student Discount: Maintain a 3.0 GPA and your insurance company will likely give you a discount because teenagers with good grades are statistically more likely to be safer drivers than students with lower GPA’s.
  • Driver’s Education/Defensive Driving Discount: Further your driver’s education and most companies will reward you with savings. Double check with your state’s requirements, but many teenage drivers can qualify for this discount by taking a course online. 
  • Military Discount: Serve your country and reap the awards. People who join the military often qualify for savings with their insurance provider. Plus, they qualify for USAA insurance, which is one of the best insurance providers in the country. 
  • Distant College Student Discount: If you’re away from your car and not driving that much while at a school, many insurance providers offer savings to reflect the amount of time you’re actually driving. 

Should Your Student Take Their Car to College?

If they take their car to college, they won’t be stuck limiting their grocery shopping to what they can carry back home. Plus, having a car makes it easier to get a job off campus. 

But there are a few reasons not to take their car to college, including:

  • Parking may be extremely difficult
  • They may have to pay extra for a parking pass
  • Many colleges discourage students from taking a car, and some even make it against the rules.
  • Many campuses are walkable

And then there’s insurance to consider. If they leave your car at home, their insurance provider will likely offer extra savings. Often called “Student away at school,” this discount still allows them to drive their car when they are home, but it expects them to leave it there when they go back to school.  

Can They Stay on Their Parents Insurance?

Sometimes it makes sense to stay on their parent’s insurance, especially if it saves them money. If they are getting a lot of discounts for them, such as a good student discount, it might make sense for everyone if they stay. 

Another reason to stay is for their insurance history. Insurance companies don’t like to see large gaps between coverage. Even though they may have a solid reason for not needing a policy, it may behoove them in the long run just to stay put. 

However, it’s better to get their own insurance policy if:

  • They get married/ no longer plan to live at home: Though there’s no age limit on when they have to get their own policy, if they no longer live at home, most insurance companies require them to be taken off of their parents’ policy.
  • They buy a car in their name: If they own their own car, they need to get their own insurance policy.
  • Their parents have a bad driving record: It might be financially advantageous for them to have their own policy if their parents have a bad driving record. 

What is Covered By Car Insurance

  • Bodily injury: If you injure someone else in an accident, your insurance provider will cover their medical costs up to your policy limit.
  • Property damage: Damage another car or person’s property, and your insurance provider will pay for repairs up to your policy limit.
  • Personal injury protection: Should you get into an accident, this coverage option covers you and your passengers’ medical costs up to your policy limit.
  • Uninsured/ underinsured motorist protection: This protects you in the event you get into an accident with a person who has little to no insurance protection.
  • Collision: No matter who is considered at fault, collision protection will pay for your car’s repair or replacement up to your policy limit. 
  • Comprehensive: If your car is damaged while you’re not driving it, this coverage option will pay for its repair/replacement up to your policy limit. 

What is not covered by Car Insurance

  • Any amount that exceeds your policy limit: If you get into an accident that does more damage than your policy accepts, you will be responsible for the remaining amount. 
  • High performance cars: If you have a highly valuable car, it’s likely that a regular insurance policy won’t cover it. You will need a specialized type of insurance to make sure it is protected. 
  • Gradual wear and tear: Your insurance provider will not help you replace parts damaged from normal wear and tear, like your tires or brakes. Anything that is considered a loss due to normal usage is not covered.  
  • Ridesharing: Drive for Uber or Lyft, and you will need a specialized type of car insurance called ride sharing. This is because your car has gone from being a personal use car to a business car. 

Where can you start to research what is available? Reviews.com recently did some of the heavy lifting for you and compared auto insurance rates for students at many different companies. Here is a link to their blog which outlines some of the best options you may want to have your students check out: https://www.reviews.com/insurance/car/best-for-students/

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