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    National Poll Confirms Family Confusion Over College Finances

    July 6th, 2010
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    by Mark H. Sklarow, Executive Director, IECA

    A study conducted earlier this year, and recently published by the College Board and Art & Science Group LLC, indicated that students and parents are making decisions about college applications and matriculation based on financial aid information that is incorrect, incomplete, and inaccurate. In the survey, 59% of students indicated that they eliminated colleges after looking at the “sticker price” with no consideration given to possible financial aid and the “net cost” of attending. No wonder, as a quarter of all students said their parents were requiring them to attend the most affordable school and another 40% had parents insist they apply to ‘more affordable’ colleges. Of course, most of these determinations were based on published list prices. Only a small portion of the population had used any financial aid calculator to determine what sort of financial aid they might qualify for. Meaning most families were flying blind. Those who were thinking about financial aid were further off base. When asked to guess what sort of financial aid they expected to qualify for, most families significantly over-stated the amount of merit aid they thought they would qualify for, even for students with very low standardized test scores. While the national average for merit aid is about 15% of college costs, families estimated it would be one-third.

    Even when faced with higher tuition than they felt they could afford, the survey found that families were willing to explore the possibility of a college. This was seen as a sign that under certain circumstances families are willing to stretch their definition of “affordability.” The qualities that get families to examine such out-of-their-budget schools: strong academics in their major, a place where students can fit in, a stellar reputation, and a solid record of placing graduates in good jobs or graduate programs.

    It is clear that families need more and easier-to-comprehend information about college finances. With the cost of college rivaling only the cost of purchasing a home in a family’s financial history, clear and accurate financing information is an essential part of the college search process. Yet today, armed with faulty assumptions and bad information, and complicated by rules and regulations that confound rather than amplify, families are at a loss. Members of the Independent Educational Consultants Association (IECA), long seen as the most knowledgeable source of information about college selection, need to expand and enhance their services to provide students and parents with clear, accurate and understandable information on college affordability. We have asked our College Committee to develop materials for a new financial aid flyer for IECA members to provide to client families.

    As an association we will post this basic information on our Web site to ensure it reaches everyone. We have also pledged to work with national organizations to assist in clarifying and simplifying the financial aid information available to families.

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    • Troy Onink, CEO Stratagee
      These are exactly the reasons why we at Stratagee value our relationship with IECA and its members, so that we ...

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    IECA’s Continued Growth and Strength Continues to Defy National Association Trend

    October 8th, 2009
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    by Mark H. Sklarow, Executive Director, IECA

    I attended several meetings yesterday in Washington DC which provided the opportunity to hear how our fellow associations—educational and otherwise—are faring. The two general areas of concern include how the economy has impacted membership and programming, and how social networking has resulted in membership losses, sometimes in significant numbers.

    IECA’s experience has been quite different. While maintaining our significant requirements, our membership has been increasing at 20% a year with no significant loss due to the economy. As the profession becomes better known and the field more established, serious professionals continue to come to IECA for a sense of professional community, mentoring and education, and the assurance membership gives to families of an ethical, knowledgeable, professional source during an anxious time.

    I also recognize the tremendous difference the IECA staff makes in our ability to attract and retain members. We have six full-time professionals working in our office outside of Washington, DC, all of whom work longer hours with greater intensity than anyone knows. Our ability to introduce new member services monthly, maintain a current listing of campus tour invitations, and assist those seeking membership is a tribute to Janice Berger, our manager of member services.

    While many associations are losing members who have found they can associate through online resources, IECA’s manager of communications, Sarah Brachman, has made sure that IECA is in the forefront of using new media to engage our members, invite new members, and extend our reach into tens of thousands of families who find us through our Web site, blog, Facebook page and more.

    At a time when most associations are reporting declines in conference attendance of as much as 40%, Rachel Diamond, our conference manager, has helped create a dynamic program with enhanced opportunities for learning and networking, so that our attendance at next month’s Charlotte Conference will be higher than either our fall or spring conferences last year. That she has been able to accomplish this while planning for her wedding—next week—is remarkable.

    In the midst of all this planning, of course we are still mailing out SAT materials (an exclusive arrangement with College Board), Common App materials (another exclusive arrangement with The Common Application), marketing materials, STI certificates and all the other things that make our office operate smoothly, and our administrative assistant, Sheila Kirk, does so while remaining helpful, upbeat, and positive, with the scores of inquiries she gets from schools, parents, and consultants.

    Behind the scenes but at the core of everything we do is Sue DePra, who may hold the title of director of education but whose role is far in excess of this: re-designing our data management system, coordinating all education and training initiatives, heading up the Summer Training Institute and Transitioning to Private Practice workshop—our two flagship programs for new consultants—and so much more. With incredible organization skills, she literally and figuratively puts her stamp on everything we do.

    I also want to acknowledge the tremendous work that our volunteer board members, committee members and chairs, conference host committees, and others do to develop new ideas, new initiatives, and new approaches. They are truly the source of so much and the staff alone could not do this without them. Those starting our new affinity groups will be key to keeping our members feel connected as our growth continues.

    So why this reflection right here, right now? Easy. Yesterday when I heard the stories, one after another, of associations shrinking and declining I pondered how fortunate I am to be working with the amazing professional staff and volunteers who have made the Independent Educational Consultants Association a national model of what to do, even during difficult times, to be a successful, thriving, growing organization. I am grateful!

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