<p>The Business section of today's Washington Post (Sunday Mar. 13) has a warning for families to "get real about scholarships". She describes many parents as "delusional" about their child's chances. Highlights:</p>
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It's delusion that soothes many parents who know they haven't saved as much as they should have saved, and/or those who cheer their children on to go to their college of choice regardless of cost. They think that if their child gets superior grades, can play an instrument exceptionally well or is a star athlete, he or she will qualify for substantial financial assistance. Some will. Most won't. ... </p>
<p>Of the students enrolled full time at four-year colleges in the 2007-08 school year, only 0.3 percent ... received enough money to cover the full cost of attendance
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<p>The author (Michelle Singletary) cautions readers to pay attention. That's 0.3 percent, not 3 percent.</p>
<p>I know some people I need to forward that information to. It hasn’t been something we have been expecting. We thought that half tuition was a reasonable goal. First two kids have met that. Third may even get more just because of her talents and my ability to focus more on her without the distraction of her siblings to take attention from her.</p>
<p>I’m glad someone is saying this. The word most places is an upbeat “don’t assume you won’t get aid” message that is such a lie for most situations.</p>
<p>Yes, full ride scholarships are extremely rare.</p>
<p>What I’ve seen is that if a student is towards the top 15% of the applicant pool of a wealthy non-Ivy college, they might get 1/2 off the tuition.</p>
<p>Most scholarship dollars by far are provided by the colleges, not by winning a few competitive open scholarship competitions.</p>
<p>Michelle will have a live online chat on this topic on the 24th. Her chats often are very interesting and informative, and I’ve been waiting for her to devote one to the subject of college finance. It will be interesting to see what she and her guest author have to say!</p>