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RealSteps> Real life. Real goals. - U.S. Bank · and may open up more opportunities—more college choices, less debt, ... the marketing name for U.S. Bancorp ... U.S. BANK RealSteps>®

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Page 1: RealSteps> Real life. Real goals. - U.S. Bank · and may open up more opportunities—more college choices, less debt, ... the marketing name for U.S. Bancorp ... U.S. BANK RealSteps>®

Family members often play a key role in helping a student prepare for the road to college. Providing a child opportunities in their early years to develop skills and knowledge may help them be successful in the future:

Instill a love of reading and learning.

Encourage participation in clubs and sports.

Develop good study habits, time management, listening and verbal skills.

Recognize your child’s interests and strengths—provide opportunities to further explore and develop them.

Early academic and financial preparation is essential and may open up more opportunities—more college choices, less debt, less stress.

What is most important to colleges and universities?GRADE POINT AVERAGE (GPA) AND ACADEMIC REQUIREMENTS

A strong academic transcript is what many schools view as the most critical piece of the application. Encourage your student to start strong and maintain good grades—

it’s difficult to raise a GPA. Colleges also look at advanced-level classes. Have discussions about taking honors and Advanced Placement (AP) classes if a good GPA can be maintained.

OUTSIDE THE CLASSROOM

Many colleges place value on service work done outside high school requirements. Students can volunteer at organizations in the community—the ones that they have a personal interest in and passion for. Colleges also value involvement in sports and clubs, especially where a leadership role is involved.

SAT AND ACT SCORES

Standardized tests such as the SAT and ACT play an important role in admission. Ideally, students should start test preparation in the spring of their sophomore year in order to be prepared to take the tests in the fall or spring of their junior year. A school counselor is a great resource to determine which test is a best fit for the student.

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Students and parents need to prepare for both the academic and financial aspects of college. Use the student and parent checklists on pages 2–3 as a starting point to plan.

Explore all of our RealSteps>® topics for quick, clear overviews on a wide range of subjects that can affect financial planning.

Investment and Insurance products and services are:

Not a Deposit Not FDIC Insured Not Guaranteed by the Bank

May Lose Value Not Insured by Any Federal Government Agency

Please see disclosures on page 4.

Preparing for College

RealSteps>® Real life. Real goals.

Page 2: RealSteps> Real life. Real goals. - U.S. Bank · and may open up more opportunities—more college choices, less debt, ... the marketing name for U.S. Bancorp ... U.S. BANK RealSteps>®

2U.S. BANCORP INVESTMENTS | U.S. BANK

RealSteps>® Preparing for College

Take college credits—they are free.

Study for and take the ACT or SAT test. If you’ve already taken the test(s), consider retaking to see if you can improve your score. Be sure to send official test scores to colleges that you’ve applied to.

Revisit colleges and determine best fit. See how your accomplishments align with their requirements.

Request letters of recommendations—allowing teachers and others plenty of time for completion.

Write college essays, get feedback from others and have a professional proof it before submitting to the college or university (if applicable).

Submit admission applications to your favorite higher education institutions. Schools have various due dates—be sure to meet the deadlines.

Follow up with colleges you’ve applied to. Make sure they’ve received all required documents (transcript, letters of recommendation, official test scores, etc).

Create an FSA ID. It is used to access your personal information on Federal Student Aid websites and to sign the Free Application for Student Aid (FAFSA) online.

Submit the FAFSA as soon as possible after October 1st.

If you’ve taken Advanced Placement (AP) classes, take the exams to see if you qualify for college credits.

Prepare for and take the ACT and/or SAT tests. There are workshops, books and online practice tests to help you prepare. Check with the colleges you are interested in to see what tests they require.

Take the PSAT test to see if you qualify for National Merit Scholarship Competition.

Job-shadow someone for a day to learn more about a career that interests you.

Attend college fairs to learn more about colleges and meet their school representatives.

Tour colleges—do an overnight to get the “feel” of the campus. Compare school attributes (big vs. small, rural vs. urban, distance from home, etc.).

Use the U.S. Department of Labor’s scholarship search to find scholarships (www.careerinfonet.org/scholarshipsearch). Some deadlines fall as early as the summer between 11th and 12th grades.

Contact local civic organizations and employers about scholarship opportunities.

Take the PLAN test. It is a great way to prepare for the ACT test.

Take challenging courses.

Research which college entrance test (ACT or SAT) is best for your situation.

Use the College Resource Center in your high school to research colleges and careers.

Gain some work experience at a part-time job to save a portion of your college costs.

Add to your list of awards, honors, paid and volunteer work, and extracurricular activities.

Establish good study habits.

Focus on good grades. Your overall GPA is required on your college application.

Meet with your high school counselor 1–2 times a year to talk about career interests, goals and preparatory curriculum. You may want to invite your parents along.

Get involved in sports, clubs or volunteer at organizations that interest you.

Start a list to track your awards, honors, paid and volunteer work, and extracurricular activities.

FRESHMAN / 9TH GRADE

SOPHOMORE / 10TH GRADE

JUNIOR / 11TH GRADE

SENIOR / 12TH GRADE

Student Checklist

Page 3: RealSteps> Real life. Real goals. - U.S. Bank · and may open up more opportunities—more college choices, less debt, ... the marketing name for U.S. Bancorp ... U.S. BANK RealSteps>®

3U.S. BANCORP INVESTMENTS | U.S. BANK

RealSteps>® Preparing for College

Use the FAFSA forecaster at www.fafsa.ed.gov to estimate the amount of financial aid available. This information will help you plan ahead.

Attend college planning and financial aid sessions and research financial aid programs at www.studentaid.ed.gov.

Sit down as a family and identify important factors in choosing a college (two-year or four-year, location, cost, campus feel, size, variety of study programs, entrance test requirements, academic requirements, etc.). Discuss funding (parent and child contribution goals) so there are no surprises later.

Encourage your child to take challenging classes and develop good reading and study habits.

Make sure your child applies for as many scholarships as possible.

Ask grandparents to give the gift of a living legacy to their grandchild—paying tuition directly to college is exempt from gift and estate tax.

Senior class enrollment/selection:

Suggest that your child enroll for college credits in high school and take classes that offer job-shadowing opportunities.

September and throughout the year:

Research all good match scholarships. Ask your student to complete the listed requirements and apply for scholarships.

Review submission deadline dates for colleges of interest with your child.

Review your family’s plan for paying for college. Compare options of financial aid award letters to determine out-of-pocket costs. Weigh the advantages and disadvantages of each. Help your child clarify goals and priorities.

October:

Create an FSA ID. It is used to access your personal information on Federal Student Aid websites and to sign the Free Application for Student Aid (FAFSA) online.

Submit the Free Application for Federal Student Aid (FAFSA) at www.fafsa.ed.gov to determine eligibility for federal, state or college financial aid.

After submitting the FAFSA, a Student Aid Report (SAR) will arrive within three days to three weeks. Review, make corrections if needed, and submit them to the FAFSA processor.

Establish a college savings plan. Set a savings goal and contribute on a consistent basis without dipping into your retirement savings plan.

Help identify academic and extracurricular activity strengths and take an interest in study habits and homework.

Encourage grandparents, family and friends to contribute to the college fund rather than giving gifts of clothes and toys.

Sign up for summer camps that offer hands-on experience in areas identified as your child’s academic strengths and interests.

Select a college:

Review all acceptance/award letters and notify the school that your student intends to attend.

Document deadlines for housing, course selection and orientation.

Submit any required financial deposit.

After selecting the college:

Finalize housing plan.

Select a roommate.

Select meal plan.

Sign up for an orientation date.

Other items:

Determine your student’s budget.

Consider applying for a student credit card for emergencies.

BIRTH – AGE 14

AGE 14 – AGE 18

DURING STUDENT’S SENIOR YEAR

PARENT / STUDENT ACTION ITEMS

Parent Checklist

Page 4: RealSteps> Real life. Real goals. - U.S. Bank · and may open up more opportunities—more college choices, less debt, ... the marketing name for U.S. Bancorp ... U.S. BANK RealSteps>®

Investment and Insurance products and services are:

This material is based on data obtained from sources we consider to be reliable. It is not guaranteed as to accuracy and does not purport to be complete. This information is not intended to be used as the primary basis of investment decisions. Because of individual

client requirements, it should not be construed as advice designed to meet the particular investment needs of any investor. Any organizations mentioned in this publication are not affiliates or associated with U.S. Bancorp Investments or U.S. Bank in any way. U.S. Bank, U.S. Bancorp Investments, and their representatives do not provide tax or legal advice. Each individual’s tax and financial situation is unique. You should consult your tax or legal advisor for advice and information concerning your particular situation.

For U.S. Bank: U.S. Bank is not responsible for and does not guarantee the products, services, or performance of U.S. Bancorp Investments.

Credit products are offered by U.S. Bank National Association and subject to normal credit approval. Deposit products are offered by U.S. Bank National Association. Member FDIC.

For U.S. Bancorp Investments: Investment products and services are available through U.S. Bancorp Investments, the marketing name for U.S. Bancorp Investments, Inc., member FINRA and SIPC, an investment adviser and a brokerage subsidiary of U.S. Bancorp and affiliate of U.S. Bank. Insurance products are available through various affiliated non-bank insurance agencies, which are U.S. Bancorp subsidiaries. Products may not be available in all states. CA Insurance License# OE24641. Policies are underwritten by unaffiliated insurance companies and may not be available in all states.

RealSteps>® is a registered trademark of U.S. Bancorp.

Not a Deposit Not FDIC Insured Not Guaranteed by the Bank

May Lose Value Not Insured by Any Federal Government Agency

09/16

4 U.S. BANCORP INVESTMENTS | U.S. BANK

RealSteps>® Real life. Real goals. We are committed to providing resources to help you take steps toward strengthening your financial confidence. From saving for education to retirement and legacy planning—our tools provide real insight at every life stage.

RealSteps>® Preparing for College

Beyond the academics, volunteering, extra- curricular activities and leadership roles, what is beneficial?FAMILY DISCUSSIONS

Families who have college-related conversations are more likely to establish a saving plan and identify key factors that influence the college selection decision.

Planning conversation topics might include:

Estimating the total cost of college and how the financial aid process works.

How college will be paid for; how your child will contribute.

Major study of interest and how the choice of major might affect job prospects and earning potential.

Requirements for enrollment at colleges and universities of choice.

Deadlines associated with the application process.

What a good fit (campus and people) would look and feel like.

Scholarship applications—where to find them and deadlines for completion.

CREATE STRONG RELATIONSHIPS

Teachers, high school counselors and coaches will be the ones writing the recommendation letters when it comes time to apply for college. These letters hold substantial weight in some college admissions decisions. Relationships make the difference between a generic letter and one that sets you apart from the rest of the applicants.

What factors should be considered when making the final college selection?Take the pressure off your child by letting them know that there’s no perfect decision. Revisit the campus, talk about the distance and help support their decision. After college offers arrive, have an honest conversation about finances and decide if it will be the overriding factor or fall somewhere further down on the list of importance. Although the final decision of where to attend college should reside with the student, there should be compromise between what the student wants (best match, best offerings for a major, location, etc.) and what the family (and student) can afford.

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