Low Income Student Guide

Guidance for Low-Income Students

Interview with Rachel Coleman

Rachel Coleman

Rachel Coleman is an IEC (independent education consultant) and Co-Founder of College Essay Editor who has worked for 6+ years as an independent business owner in the college admissions counseling field. She helps high school students across all disciplines navigate their academics, financial aid, and college applications. Rachel received her B.A. in comparative literature from Stanford University and her College Counseling Certificate from UCLA. She is now an active member of Higher Education Consultants Association.

Q. What is the number one piece of advice you would give to low-income college students?

Apply to schools that meet 100% of demonstrated financial need. Many students think that in-state and local options will be the most affordable for them. However, there are many schools (and here is a good list) that will be completely free to attend for students whose parents make less than $60k per year, even if the "sticker price" looks expensive at first glance.

Q. What resources do you wish low-income students knew about?

Students should run "Net Price Calculators" for every school they are planning to apply to. Simply search [School Name + NPC], and the top result will be the NPC for that school. Here is an example of an NPC for Occidental College. After the student and parents fill out their financial profile, this school-specific calculator will estimate how much that particular school will cost for a student. And how low the numbers at private schools can be might surprise low-income students.

The NPC is a good way to judge how much financial aid a student will receive if accepted. Running these calculations is important to do early on in the process, so that students can use the NPC numbers to build their college list. Ideally, students should only apply to schools that will be affordable for them. That way, they are not surprised by the price tags at the end of the process.

Students with a strong academic profile should apply to Questbridge. This scholarship matching program partners with 45 colleges and universities that offer 100% full scholarships to students who successfully apply to become Questbridge scholars. I have worked with several Questbridge scholars in the past, and it's an incredible opportunity!

Apply for student fly-ins. Many schools offer free "diversity fly-in" programs to low-income students. These are great opportunities for students to visit a school, and for the school to see that student's interest (not to mention, attending a fly-in dramatically increases a student's chances of acceptance to a selective school). However, the deadlines for these programs are typically mid-summer to early August, so students need to prepare their applications fairly early in the summer after their junior year. Here is a great list of those programs.

Q. Are there any organizations you know of that are doing exceptional work in supporting low-income students?

Organizations like Questbridge and College Greenlight (now part of Cappex) have incredible resources and free programs for low-income and first generation students. However, these are national organizations. I always encourage my students to look for local resources as well, and connecting with school guidance counselors is a great first step because they know which local organizations are providing free services to students.

Q. What advice would you give to students anxious about student loans?

First, I tell my students that, if they do good, strategic, college research, our goal is to find them a school where they can graduate with no loans and no debt. So, I push back strongly against the premise that low-income students need to go into debt to attend college. There are schools (like Berea College) that are exclusively for low-income students and are completely free to attend. Free European university options (with programs taught in English) offer programs that are a fraction of the cost of attending an American university. With good research and pragmatic thinking, students do not need to go into debt in the first place.

Of course, I understand that many students do choose to take on student loans to pay for college. I advise these students to take steps to reduce their stress. These steps could be things like: automating payments, refinancing a loan to earn a lower interest rate, and even asking for help before a loan balloons into something unmanageable. Like with most financial situations, planning ahead of time improves outcomes and reduces stress.

Q. What should low-income students look for in a college or program?

In addition to the basic elements of choosing a college, like making sure the school has the major the student is interested in, or that the school size/location is comfortable for the student, low-income students should look for schools that 1) give good need-based financial aid, 2) give ample non-need-based merit aid, and 3) are academically supportive. I personally think smaller schools, with free academic tutoring and low teacher-to-student ratios are ideal settings for students who will need additional support when transitioning to college.