Frequently asked questions
About College Assistance Plus
1. How long has College Assistance Plus been around?
2. What is the average amount of money we can save through working with CAPlus?
3. Is CAPlus considered a college prep company?
4. Can't I get all this information through my high school guidance counselor?
5. Doesn't the college financial aid office give us the best deal?
6. Does CAPlus submit applications to colleges for me?
7. Does CAPlus get involved in finding private scholarships?
8. What kind of money-back guarantee is there?
9. Can you help graduate students?
General financial aid questions
1. What is the Expected Family Contribution?
2. What assets are in the financial aid formula?
3. If I am self-employed, is my business considered an asset?
4. As a student, how do my personal assets and income affect the EFC formula?
5. Who do I go see about getting school loans?
6. We plan on using our home to help pay for college. What should we do?
7. Does attending summer sessions reduce the total cost of college?
8. If our student takes AP courses in high school, will it reduce the cost of college?
9. How do I develop strategies for obtaining the best financial aid package?
10. What do I do if I have special circumstances, like disability, recent unemployment, etc.?
College application and admission
1. How many colleges should I apply to?
2. Should I take my student to visit several colleges during his or her junior year of high school?
3. Do my student's SAT/ACT scores really matter?
4. How can I position my student to look attractive to a college?
About College Assistance Plus
How long has CAPlus been around?
College Assistance Plus was founded in early 2004. Since the beginning of our organization, we have invested much time and energy into understanding the college marketplace. We are experts in college searching, financing, and helping parents obtain the best financial package at the college of their choice.
What is the average amount of money we can save through working with CAPlus?
That is a difficult question, since our history has shown savings from $500 per year up to $20,000 in one year. Every student is unique and will have a different amount of savings based on a number of different circumstances. To find out how much money we might be able to save you, contact a CAPlus representative near you.
Is CAPlus considered a college prep company?
To some degree, yes. We refer to ourselves as "Educational Consultants" and believe that we are more than a college prep company, with all the opportunities that we create to help you save money. Most college prep companies are only with you for the last year of high school, while we are with you all the way through college.
Can't I get all this information through my high school guidance counselor?
Guidance counselors are great for pointing you in the right direction for schools and programs that you are interested in. However, after meeting with many of them, we have found that they do not have the same understanding of colleges as "big businesses" that we do. Often guidance counselors become familiar with specific schools and guide students in the direction of those schools, but at CAPlus, we try to expand your horizons to get you the best deal possible. Choosing a college should not be an emotional decision, but a decision that takes into account all of the financial considerations.
Doesn't the college financial aid office give us the best deal?
Unfortunately, no. Colleges are big businesses, and their number one goal is to get the best students to attend their school and pay the most money.
Does CAPlus submit applications to colleges for me?
It is the student's responsibility to submit his or her own applications to the colleges he or she is interested in attending. While there are sites and small business that will do this for you or help you with it, we believe that it is better for the student to write and submit his or her own essay.
Does CAPlus get involved in finding private scholarships?
We encourage clients to look for private scholarships, but we do not actively search for these ourselves.
What kind of money-back guarantee is there?
Although we have an agreement of services we will provide to each of our clients, we do not guarantee anything specifically because it is difficult to know if the client has followed our instructions implicitly. If the family follows our advice, we are absolutely certain that over the 4-6 years that the client is engaged with us, he or she will be extremely happy with our sound financial advice on how to save money throughout the student's college years.
Can you help graduate students?
Yes. We have been very successful in assisting graduate students identify colleges and reduce their costs. See Kathy's video testimonial to hear about a woman who decided to return to college for her master's in physician assistant studies. She received her PA degree and estimates that CAPlus saved her over $20,000 and was instrumental in her success.
General financial aid questions
What is the Expected Family Contribution?
Expected Family Contribution, or EFC, is the amount of money that the government believes you can afford to pay for one year of college. To put it simply, the government determines how much they think you can spare each year to put into college. They use your answers on the FAFSA (Free Application for Federal Student Aid) to determine this number.
What assets are in the financial aid formula?
Most assets are included in the EFC formula, including cash, checking, CDs, bonds, trusts, money markets, mutual funds, stocks, and additional real estate.
If I am self-employed, is my business considered an asset?
Your family business is only considered an asset if you have over 100 employees. If you have more than 100 employees, however, the current value of the business is included as an asset on your FAFSA.
As a student, how do my personal assets and income affect the EFC formula?
The formula multiplies all student assets by 20% and has a significant impact on your EFC. The government assumes that most of the student's assets should and will be used in paying for college.
Who do I go see about getting school loans?
Once you decide on a school and are accepted, you can visit or call the college's financial aid office and ask for help getting loans. You can also search for personal loans through our website.
We plan on using our home to help pay for college. What should we do?
A home equity line of credit is much better than a second mortgage. You only have to pay interest on what your need is at the time and not on the whole amount, which you would need to do if you took a second mortgage. Try and stay away from this if you can; you have worked for years to pay off your home, and you shouldn't have to have that taken away from you by a college.
Does attending summer sessions reduce the total cost of college?
Possibly. Some colleges offer reduced rates in the summer. If you are home for the summer, you may be able to take courses at a local community college, but make sure that the college you are currently attending will accept the community college credits before you enroll. If a couple of summer courses will keep you from having to spend an additional semester in college, it could be well worth your time.
If our student takes AP courses in high school, will it reduce the cost of college?
Possibly. Completing AP courses may give your student college credit (at high school prices), depending on which college he or she chooses to attend. There are many colleges that do not accept AP classes for college credit, so be sure to check with the colleges you are interested in to see if they will accept the credits.
How do I develop strategies for obtaining the best financial aid package?
CAPlus works with you in creating and implementing the most effective strategy for you. Part of our service is comprehensive information on government and private funding alternatives. We will help you understand the terminology and facts that you need in order to make an educated decision
What do I do if I have special circumstances, like disability, recent unemployment, etc.?
We will address how to handle special circumstances as part of our service to you.
College application and admission
How many colleges should I apply to?
The number is not as important as the selection process that you use to narrow your choices. We recommend anywhere from 3-8. If you follow our suggestions to select which colleges you should apply to, you should have a concise list of good schools, no matter what the number is.
Should I take my student to visit several colleges during his or her junior year of high school?
Before you do anything, get some ideas of costs before spending time and money on visiting colleges that may cost too much for you. You definitely don't want your student to become emotionally connected to a college that you can't pay for. Stay away from that conflict and stress early by understanding the history of financial grants and gifts at the colleges you are interested in. Be fully educated and prepared on each college before you visit.
Do my student's SAT/ACT scores really matter?
SAT and ACT scores have a big impact on the amount of financial aid that a college gives a student. We suggest using study guide software to prepare for the exams so you can get the most financial aid possible.
How can I position my student to look attractive to a college?
CAPlus will provide many different suggestions for positioning yourself in our guidebooks and monthly newsletters.