For many years working with high school students and parents, I would recommend that students apply to 6 to 8 different colleges.  In some cases these multiple college applications were designed for admissions - to ensure that students had a mix of "reach schools" with schools that were sure to accept them.

For the most part however, the reason why I would recommend that students apply to multiple colleges had financial motivation.  Families never really learned out of pocket cost (net price) until March or April of senior year upon completion of the FAFSA and/or Profile.  Families waited to get these multiple awards and then made their cost comparisons, attempting to balance all of the other reasons why a student would want to choose a college with the bottom line out of pocket cost.

I am happy to say that the game has changed.  Now with the emergence of the net price calculators, families should not have to apply to 6 or more colleges.  Assuming that the average application fee is $30, by cutting those applications in half, a family can save $90 to $120 just in those fees.  Of course they can also save a significant amount in time and energy with fewer college visits, essays, and personal statements.

The game has changed with the new department of education initiative, net price calculators.  Now, families can do that preliminary assessment of net price even before the decision is made to apply.  Now I recommend that families develop their list of 7 to 21 college options (1 to 3 colleges in each of the 7 categories that ensure net price variety), establish 7 different categorical net prices, and then focus on those 3 or 4 schools that fit them financially.

If these schools also fit the academic, social, and spiritual needs of the student, why would the family want to extend the applications beyond 3 or 4 options?  What used to be 6 to 8, has now become 3 or 4.

If you haven't examined the organizational system at myfinancialfit.com, you might want to peruse the four quick explanation videos on that website.  The process begins with a systematic method for families to assess what they can actually afford to pay for college.  In my 26 years of working with families one on one, I know that most families do not know how to calculate this affordability range.  The affordability calculator - an anonymous and confidential tool - will help in this area.  The net price comparison chart will allow families to search for categorical fit and assess for value as they compare colleges with similar benefits and features to see if they also have similar net prices.

As a parent of a senior student myself, we have decided to apply to three colleges.  The three colleges will all be:  ones that we know we can afford, ones that have the other aspects of fit they we are looking for (academic, social, spiritual), and ones that have similar features and benefits.  We will use the net price comparison chart to make sure that the three we select provide net prices that are in line with most of the colleges in their category.  This will give us time to attempt to maximize the senior year experience, search out private based scholarships, and try to improve upon GPA and/or test scores in hopes that net price estimates might even be higher that the actual award letter results.

I am happy to say that more and more high school counselors are beginning to understand the Financial Fit College Search method and system.  As students, parents, and high school counselors begin to embrace this system, it should go a long way to end this cycle of excessive college debt.