According to the Internal Revenue Service, the average tax refund this year is roughly $3,000, reported CNN (4.3.14). Here are some great suggestions on what to do with the refunded money for parents of teenagers who plan to attend college:
1. Pay for tutoring. The importance of grades for colleges cannot be ignored. The GPA is the single most important part of a college application. Not only that, colleges want to see a challenging high school curriculum. If a student needs help in one or more subjects, spend some money on tutoring. (It may even pay off more in the form of scholarships.)
2. Put money into a 529 plan. Even if a child will be a junior this year, it’s not too late to make a tax-preferred investment for college. Many states provide a tax deduction for 529 contributions even if it is only a short time investment.
3. Invest in a summer enrichment program. Summer enrichment programs can help propel students toward college, as well as help them gain acceptance into a school of their choice. Students can explore a subject of interest or bolster volunteer work credentials. There are programs for all interests, including engineering, career exploration, robotics, entrepreneurship, women’s leadership, music, drama and test prep. Nearly every school, including the Ivies, offers a summer program for high school students, allowing students to experience life on a college campus. Some programs offer college credit.
4. Go for the test prep. Next to grades, test scores are one of the most important factors in college admissions. Look into test prep courses with a (SAT word alert) splendiferous SAT, ACT, SAT Subject Test, AP and/or TOFEL tutor who can help boost a student’s confidence and increase the test scores.
5. Visit colleges. College visits can be costly but worthwhile. A student just may find their top-pick school is nothing like they imagined. Visiting a school may also increase chances of gaining admittance and of getting a better award package, if only slightly. Taking the time to tour campus shows commitment.
6. Encourage summer college courses. Summer college courses can give a student the opportunity to attend school classes with undergraduate students or other select high school students and earn college credits.
7. Hire an independent college counselor. An expert college advisor like one at International College Counselors can give a student the individualized attention to properly tackle the college admission process. From help choosing colleges, going on interviews, editing essays and applications, refining extracurricular activities and more, an expert private college advisor gives students the tools they need to find and get into the college of their dreams.
About International College Counselors International College Counselors is an independent college admissions company that helps students in the U.S. and all over the world find, apply to, and gain acceptance into the college of their dreams. The college counselors are dedicated to helping students and their families successfully navigate the college admission process. For more information on International College Counselors or to contact an expert college counselor, please visit www.internationalcollegecounselors.com or call 954 414-9986.