According to the Internal Revenue Service, the average 2012 tax refund is roughly $3000. Here are some great suggestions for what to do with the money you get back if you’re a parent of a teenager who plans 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 your student needs help in one or more subjects, spend some money on tutoring. (It may even pay off more in the form of scholarships.) If you need help finding an amazing tutor, contact your International College Counselors college advisor for more information.
2. Put money into a 529 plan. Even if your child will be a junior this year, it’s not too late to make a tax-preferred investment for college. Many states, including Florida and New York, provide a tax deduction for 529 contributions even if you’re investing for only a short time.
3. Invest in a summer enrichment program. Summer enrichment programs can help propel your student toward college and gain acceptance into a school of their choice. Let your student explore a subject of interest or bolster volunteer work credentials. College advisors at International College Counselors know 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, offer 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. Please contact your college advisor at International College Counselors for the name, number and email address of a (SAT word alert) splendiferous SAT, ACT, SAT subject test, AP and TOFEL tutor who can help you increase your test scores.
5. Visit colleges. College visits can be costly but worthwhile. Your 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 your 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. If you are not a client of International College Counselors, what are you waiting for? Our expert college advisors can give your student the individualized attention to properly tackle the college admission process. With new offices now in Coral Gables, Boston, Miami, New York and Palm Beach Gardens, and advisors who speak fluent Spanish and Mandarin Chinese, we can better meet your needs. From help choosing colleges, going on interviews, editing essays and more, we will give your student the tools to find and get into the college of his or her dreams.
If you need help evaluating and choosing a summer opportunity for your student and/or want information on tutoring, and are a client of International College Counselors, please give your college advisor a call or send an email.