Hello /r/pf, I posted this as a reply earlier but I think I will flesh it out a bit as I think it could be useful to many of you!
I'd like to tell you a true story that happened to me as a bit of a case study into the value of standardized test prep when it comes to scholarships.
I won't be trying to sell you anything or and particular service, but I'd like to make the case for making this small investment.
Ryan and I were both similarly intelligent, and similarly good at standardized tests. We scored the same thing on our practice tests (a 31). Our GPAs were within a few hundredths of a point. We were comparable students.
When preparing for our SAT and ACT (this applies to both), I took a small number of prep classes (two weekends of group instruction). I used what I learned about the test during these to guide my studying, which I did, truthfully, about 10 hours of. We paid $200 for the classes.
Ryan studied a similar amount, but decided against taking any paid classes.
When taking the test, I distinctly remember recognizing certain problem types and patterns which I learned about during the classes. I would estimate that there were 4 or 5 questions which I got correct instead of guessing due to my guided preparation.
I scored a 34 on the ACT, and Ryan scored a 30. A mere 5 questions can make a difference of 1-2 points, and this can have a significant effect on scholarships which may be available to your child(ren). We will be using the examples of the University of Alabama and the University of Mississippi to compare the amounts of automatic, out-of-state scholarships our scores would earn us there. I chose these examples because Ryan and I attend these schools.
These are approximations based on the information available on the college websites.
Alabama
| ACT | Tuition | Scholarships (per year) | Scholarships (4yr) | Net Tuition (1yr) | Net Tuition (4yr) |
|---|---|---|---|---|---|
| 26 | $26,950 | $0 | $0 | $26,950 | $107,800 |
| 30 | $26,950 | $17,976 | $71,904 | $8974 | $35,896 |
| 34 | $26,950 | $26,950 | $107,800 | $0 | $0 |
Mississippi
| ACT | Tuition | Scholarships (per year) | Scholarships (4yr) | Net Tuition (1yr) | Net Tuition (4yr) |
|---|---|---|---|---|---|
| 26 | $21,912 | $3900 | $15,600 | $18,012 | $72,048 |
| 30 | $21,912 | $12,000 | $48,000 | $9,192 | $36,768 |
| 34 | $21,912 | $23,334 | $93,336 | -$1,422 | -$5,688 |
Note that this does not include room, board, and transportation.
Also keep in mind that Alabama is very expensive relative to other state schools.
There are several variables I have not accounted for. Many schools are less generous than these. Many schools are less expensive initially. I could continue with reasons this isn't 100% accurate.
My point, however, is that you can save massive amounts of money on college education with just a few points on a standardized test. For me, this means graduating debt-free, being able to take an unpaid internship, and allowing my little sister to use our family's savings for her education instead of having nothing left. Consider investing in professional preparation when your kids are getting ready to take these tests. It just might save you $100,000!not a factorial I'm just excited
Edit: Just for fun, if we consider my test prep and studying to each account for half of the difference between a 30 and a 34, the $200 class represents a return of 11,234% in just four years (equivalent to a 226.28% annualized return), and I earned $2,266.80/hr while studying.
Submitted April 17, 2017 at 08:05PM by Jfinn2 http://ift.tt/2psCHDS
