This week

• Feature —Does college improve your earning potential?
• Your turn —How to increase your chances with scholarships
• Stay on track — A checklist of "to-dos"
• Take notice — Important dates
• All about AIEmail — Subscribe, suggest, review

Feature

Does college improve your earning potential?

Many people believe going to college is the best way to improve your chances of earning more money in your future career. Others think going to college doesn't necessarily add to your earning potential, and point to prominent examples of wealthy businesspeople who dropped out of college. But examples like that are very much the exception, rather than the rule. On average, people who go to college earn more than those who don't.

According to the Census Bureau, the median yearly income for someone with a bachelor's degree is $47,240, while for those with only a high school diploma the amount is $28,290. That's a difference of $18,940! In fact, the greater level of education people complete, the more likely they are to earn more money. Each level of educational achievement provides a boost in earning power—from no high school diploma all the way through a professional degree such as a master's of business administration (M.B.A.), medical doctor (M.D.), or juris doctor (J.D.).

If you total the increased earnings over a lifetime, it adds up to a small fortune: The estimated earnings during the career of a full-time worker who didn't complete high school are about $1 million. Completing a bachelor's degree raises career earnings to over $2 million. Those with professional degrees earn a median income of $5.6 million in a lifetime.
Want more information on earnings for each level of education? Check out the "Learn More. You'll Earn More" page on AIE: http://www.aie.org/planning-for-college/First-steps/learn-more-youll-earn-more.cfm

Source: U.S. Census Bureau, Current Population Survey, Annual Social and Economic Supplement, 2008

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Your turn

How to increase your chances with scholarships

When it comes to scholarships, there are several things you can do to improve your chances. Here are some things to consider.

Apply early.
Every scholarship program is unique, so you'll find that application deadlines vary. Some programs time and date stamp their applications. Although the committee may not consider this as a factor in selecting those who receive awards, when you submit your application early, you may have an opportunity to revise or correct your information or submit parts you may have forgotten about.

Submit an easy-to-read, well-organized application.
Print or type neatly, and follow all the directions provided. Don't leave any item blank; if something does not apply to you, enter "none" or "not applicable." Don't leave it up to the committee to interpret your answers.

Check your grammar, spelling, punctuation, and organizational structure. Have a counselor, teacher, or parent review your application before submitting it. If the application allows you to include attachments, use them if necessary. Be creative in your approach in essays, but avoid doing anything too unusual, like sending your application in a strange, unmanageable, or oversized package.

Avoid redundancy in your essays.
Good writing is key. When you rush to prepare an essay, you may be more likely to repeat yourself — don't. Your goal in an essay is to show the selection committee three things: that you can write, that you can organize your thoughts well on paper, and that you can show something unique about yourself.

Make contact, but do it cautiously.
If it is allowed, try to make one contact with a member of the committee or with the organization. You can do this by e-mail, over the phone, or in person. Ask a question or express your appreciation for the program. Above all, however, be brief. Committee members may be busy, so you want them to remember you — but make sure they remember you positively. If you become a pest, you'll probably be eliminated from consideration quickly.

Stand out from the crowd.
One of the most difficult things to do, but also one of the most important, is to prepare your application in a way that makes you stand out to the committee. When you are able to show who you are through your application, you increase your chances of being selected.

Good luck with your scholarship applications!

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Stay on track

Checklist for this week

For freshmen

• Take an active role during class lectures. Ask questions and contribute to class discussions.
• Keep open lines of communication with your teachers. Give them progress updates on your studies and ask for help when needed.
• Remember, active participation can improve your grades. The more you show an interest, the more likely you will be given credit.
• Start to get comfortable speaking in class, in large groups, or in class presentations. Your confidence will build, and you will do better in future interviews for schools and scholarships.
• If you are shy, make a commitment to speak up at least once or twice a day in class. You'll find it more comfortable to participate in the future.

For sophomores and juniors

• It's time to take the PSAT. Make sure you register and get all the information necessary to take the test.
• When you receive your PSAT scores, you will also be given your test booklets. Review the items you missed and talk to your teachers if you don't understand why you missed the incorrect answers.
• When you practice for the test, make sure you monitor your time and adjust your progress to complete as much of the exam as possible.
• Don't get stuck trying to answer a single question. Mark the questions you can't answer immediately and come back to them later.
• Pay attention to the instructions on filling out the answer form. It can be very easy to lose your place and start marking answers in the wrong spaces.
• If you are having difficulty selecting the correct answer, but you can definitely eliminate one of the answers, make your best "educated" guess. By eliminating one option, you've already increased your chances of getting the right answer.
• Remember to take your calculator, extra new batteries, and a supply of reliable pencils to the test.

For seniors

• Keep working on getting good grades. It's tempting to slack off your senior year — but don't do it.
• You should be diligently working on taking your college entrance exams, preparing your college applications, and visiting schools when possible.
• Talk with your parents or counselor about who you should approach to prepare reference letters for you. Often, it's more important that you select a person who knows you well. A person with a high profile may not impress the school if that person doesn't know you well.
• Start thinking about where you'll be this time next year. If you plan on leaving home for college, you'll need to start thinking now about how to pay for the necessities — food, shelter, and transportation, among other things.
• Work on your leadership skills. Join clubs, run for an office, and get involved with community activities.
• Keep your family involved in your college and career planning. Share your progress over dinner, on the ride to or from work or school, or over a basketball game or trip to the mall.

For parents

• The season for "college nights" and college planning fairs has arrived. Stay involved. Make arrangements to attend these programs with your student.
• During the fairs, encourage your student to ask questions. Pick up information about schools and ask any questions you may have, but be careful not to monopolize the counselor's time.
• Have a quick five to ten minute chat with your student's high school counselor. Share ideas, talk about your students' progress, and ask them to keep you informed of any changes.
• If your senior student wants to go to college but isn't making an effort to get the information he or she needs, remind them that time is running very short. Get them to spend an afternoon or a Saturday morning calling admissions offices for information, researching on the Web, or e-mailing schools.

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Take notice

Important dates

To get more information on the SAT or SAT Subject Tests, access useful tools, or register, visit the College Board's Web site (www.collegeboard.com) or call (866) 756-7346.

To get more information on the ACT, access useful tools, or register, visit the ACT Web site (www.act.org) or call (319) 337-1270.

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