The undergraduate university admission process is becoming more and more competitive every year among the top tier universities in the United States of America. One of the reasons is the number of graduating seniors in the US is increasing where as the number of top tier universities is constant. This makes it more difficult for the students to compete for admission at these top tier universities.
In addition, if the students are not in the top percentile of their high school’s graduating class, do not have stellar grade point average and excellent ACT or SAT scores, they are generally not accepted by these top tier universities. Every student is not capable of getting these stellar results as high school seniors for variety of reasons. If they don’t get accepted by the top tier universities they are disappointed and their hopes are dimmed. As a matter of fact these students have a second chance of getting a top tier degree of their choice from the top tier universities in the USA and optimizing their college costs by reducing their student loans by almost half. The college education is probably the second expensive item on the parent’s wish list after owning a home. The college education has increased 1,120 percent over the last 34 years between 1978 and 2012. We have been hearing more and more stories of student graduating with debt. According to The Institute for College Access and Success the average borrower will graduate with $26,600 in student debt. One in 10 graduates accumulates more than $40,000 in Student debt. About 1% of graduates carry a crippling debt of over $100,000. If these graduates cannot find a job by the time they graduate, they are disturbed and depressed with great amount of debt. Therefore, the planning for college education depends on many parameters such as selection of high school courses, type of universities one would consider, major/minor options with the market demand and student's interest, job placement rate of the selected school, internships/co-op opportunities, and economics of the school expenses to minimize the student loan. The true college planning and education must consider all these factors to optimize the college education at the least possible cost.