Frequently Asked Questions
WHY SHOULD I use comprehensive COLLEGE PLAN with J.P. SCHMIDT?
The biggest lie that is told by colleges, the Federal govt, and Wall Street is telling you that you can plan for college by yourself. They tell you it's like playing checkers when in reality the game is checkers. See the FAQ "Why is College so Expensive?"
Have you ever purchased a home? If so, you understand that you cannot do it by yourself...rather you need to work with experts. For example one of the first things you need to do is determine your budget. So you consult with a real estate mortgage broker to see how much of a loan you can take out. And then most of us use a real estate agent to help us find a home that we can afford and meets our checklist: nice neighborhood, number of bedrooms, type of kitchen, etc. Also, the real estate agent usually has some inside knowledge about how much a seller is willing to negotiate on the price. Or the real estate agent advises on some red flags they see that you didn't think of. You rely on the experts to help you through the process. Otherwise, it could be a disastrous experience.
What about taxes? If your tax situation is simple, then you can DIY it with TurboTax or some other similar guide. But as your situation gets more complex, you hire a professional.
The same goes with college. For most families, college will be the second most expensive cost we incur (right after a home). And if your family has more than one child, there is a chance college could cost more than your home. With our comprehensive guidance, we save you time and money and help you make the best possible decision when it comes to college.
The other hurdle to college is admissions. College admissions is not the same as it was when parents applied to college. More and more students are applying to college than ever before. Also, students are applying to more colleges at the same time. As a result college admissions is a much more competitive and complex process than ever before. Schools of the past that were considered "Safety" school are now considered "Reach" schools and parents have no idea of the present reality.
What makes us unique in our industry is our comprehensive and holistic approach. Our industry is generally broken down into two camps: 1) education consultants - who focus on college prep and college selection; and 2) college funding experts - who focus on where to shift your money to qualify for most need-based grants or advise on scholarships. But with us, we are your one-stop shop that helps you handle both aspects of college planning.
Have you ever purchased a home? If so, you understand that you cannot do it by yourself...rather you need to work with experts. For example one of the first things you need to do is determine your budget. So you consult with a real estate mortgage broker to see how much of a loan you can take out. And then most of us use a real estate agent to help us find a home that we can afford and meets our checklist: nice neighborhood, number of bedrooms, type of kitchen, etc. Also, the real estate agent usually has some inside knowledge about how much a seller is willing to negotiate on the price. Or the real estate agent advises on some red flags they see that you didn't think of. You rely on the experts to help you through the process. Otherwise, it could be a disastrous experience.
What about taxes? If your tax situation is simple, then you can DIY it with TurboTax or some other similar guide. But as your situation gets more complex, you hire a professional.
The same goes with college. For most families, college will be the second most expensive cost we incur (right after a home). And if your family has more than one child, there is a chance college could cost more than your home. With our comprehensive guidance, we save you time and money and help you make the best possible decision when it comes to college.
The other hurdle to college is admissions. College admissions is not the same as it was when parents applied to college. More and more students are applying to college than ever before. Also, students are applying to more colleges at the same time. As a result college admissions is a much more competitive and complex process than ever before. Schools of the past that were considered "Safety" school are now considered "Reach" schools and parents have no idea of the present reality.
What makes us unique in our industry is our comprehensive and holistic approach. Our industry is generally broken down into two camps: 1) education consultants - who focus on college prep and college selection; and 2) college funding experts - who focus on where to shift your money to qualify for most need-based grants or advise on scholarships. But with us, we are your one-stop shop that helps you handle both aspects of college planning.
OUR HIGH SCHOOL COUNSELOR IS SUPPOSED TO HELP US. WHY SHOULD WE PAY FOR YOUR SERVICE?
It's true that your high school counselors want to be helpful in the college planning process. But consider this - most counselors have a caseload of 400 or more students and just don't have the time nor resources to give your child a personalized plan. School counselors have an impossible job...one that we don't envy.
In the end, high school students receive on average only 38 minutes of counseling about college. That simply is not enough time to handle something as complex and personal as sending your child to the right college.
There are times when high school counselors have approached us after a seminar and admitted they didn't know half of the information we provided. Sadly, some even admitted they've been giving out incorrect advice. This is why we exist. We pick up where the high school counselor has to stop. We provide the expertise and customized guidance needed to plan for college for your child.
In the end, high school students receive on average only 38 minutes of counseling about college. That simply is not enough time to handle something as complex and personal as sending your child to the right college.
There are times when high school counselors have approached us after a seminar and admitted they didn't know half of the information we provided. Sadly, some even admitted they've been giving out incorrect advice. This is why we exist. We pick up where the high school counselor has to stop. We provide the expertise and customized guidance needed to plan for college for your child.
CAN'T WE DO THIS ON OUR OWN?
Yes, you can...with the proper guidance. If you use my online courses, you'll have a better chance of success than most families. Check out the Comprehensive College Plan and Road to Academic Success.
WHEN SHOULD WE START PLANNING?
The college application begins in the 9th grade. So I strongly recommend we begin the academic planning at that time.
As for planning ahead for the financial impact of college, such as best ways to save for college, effective ways to qualify for more free money, etc. - I recommend we start having those conversations as early as possible. Some families contact me when their children are only babies. But I've also been able to help families whose children were already in college. Every situation is different.
In the end, time is either your greatest asset or your greatest failure.
As for planning ahead for the financial impact of college, such as best ways to save for college, effective ways to qualify for more free money, etc. - I recommend we start having those conversations as early as possible. Some families contact me when their children are only babies. But I've also been able to help families whose children were already in college. Every situation is different.
In the end, time is either your greatest asset or your greatest failure.
My child has a perfect gpa and high test scores. Is that enough to be admitted into college?
Not necessarily. Nearly all selective universities, the majority of semi-selective universities, and a shocking amount of regular public universities, have more applicants with perfect GPA's and high test scores than they have room for. Therefore many "perfect" students get rejected from colleges every year. It takes more than perfect grades and high test scores to stand out from the crowd. My online course called Comprehensive College Plan will show you how to do just that.
CAN I CALCULATE MY SAI BEFOREHAND?
CollegeBoard EFC Calculator can help provide you an estimate of what your SAI could be. But that is only part of the issue. What also matters is finding out what percentage of Financial Need does a school provide on average. Only then will you understand which schools it makes sense to find ways to lower your SAI contribution versus which schools you should focus on scholarship opportunities. For additional guidance, I suggest visiting my online Comprehensive College Plan to learn more.
DOES FINANCIAL AID ONLY MEAN LOANS?
No - generally speaking Merit-based aid will be scholarships (free money) and Need-based aid will be loans, work-study, and/or grants (also free money). But not all schools are created equal. Some schools generously give out free money and others do not. Our goal is to help you qualify for as much of the free money as possible and place you with the schools that are generous.
How will we communicate?
My one-on-one meetings with students are primarily conducted via Zoom. In addition, students have a way to chat with me online in their college tracking profile. As for parents, I'm available to zoom or communicate via email or phone calls, whichever is most convenient for the parent.
why are college admissions so competitive nowadays?
There are a few reasons for the increased competitiveness. 1) With each new generation there has been an increasing assumption that college is needed if you want to succeed. 2) More employers have raised the minimum requirements for an applicant to hold a college degree. 3) The Common Application has made it easier for students to apply to more schools at once. 4) Some colleges have become really good at marketing themselves to high school students and creating a lot of hype. 5) Most schools have not expanded the number of seats they can admit. So when you mix a limited number of available seats with a growing pool of applicants, the result is much stiffer competition all the way down to public State schools.
Why is college so expensive?
For many American families, college will be the second most expensive event in our life... just after purchasing a home. College costs have risen well above inflation, more than any other industry since the early 1990's. So why is that the case? Well, it's a complex issue. I suggest looking at the 3 major players that are "winning" the college game.
1) Colleges - a handful of colleges are on track to cost $100,000 in 2025-2026. Where is all that money going to? Some of it goes to hiring amazing professors or building world-class facilities. However, a lot of it goes to administration bloat as well as marketing budgets. Purdue University, for instance, has around 250 people on their marketing and communications teams, supported by millions of dollars in marketing budgets.
2) U.S. Federal Govt - with the Higher Education Act of 1965 parent and student college loans are the largest asset owned by our government, making up 33% of its total assets. Our government essentially needs college to remain expensive.
3) Wall Street - is more than happy to make money off of you, either through private loans or 529 savings plans. So whether you save ahead for college or use private loans to supplement the Federal govt loans, Wall Street also wins.
1) Colleges - a handful of colleges are on track to cost $100,000 in 2025-2026. Where is all that money going to? Some of it goes to hiring amazing professors or building world-class facilities. However, a lot of it goes to administration bloat as well as marketing budgets. Purdue University, for instance, has around 250 people on their marketing and communications teams, supported by millions of dollars in marketing budgets.
2) U.S. Federal Govt - with the Higher Education Act of 1965 parent and student college loans are the largest asset owned by our government, making up 33% of its total assets. Our government essentially needs college to remain expensive.
3) Wall Street - is more than happy to make money off of you, either through private loans or 529 savings plans. So whether you save ahead for college or use private loans to supplement the Federal govt loans, Wall Street also wins.
