The lure of an elite undergraduate institution is undoubtedly very powerful.  And if you have the credentials and money to comfortably matriculate, by all means… However, if finances are tight and the financial aid isn’t right, take a moment to put your education and career into perspective.

In today’s economy, an undergraduate degree is necessary but not sufficient to enter many of the most sought after professions.  Prospective employers in a number of fields, including medicine, law, government, and education, require or at least recommend a graduate degree. To them, it is this degree that matters most, because it is the graduate degree that is perceived as most telling of a job candidate’s qualifications in his or her respective field.  This being so, you may want to consider saving your money (or debt) for grad school while looking for more affordable undergraduate options.

Now, some of you may be thinking: “But I can’t get into the best grad schools without first going to an elite institution!” Not true.  While the undergrad degree matters, it doesn’t matter nearly as much as many people think.  Excellent grades and test scores always take precedence over undergraduate institution. In other words, it’s not where you go, but what you do during your undergrad years that really matters.  If you don’t believe me, refer to the link below for a list of undergraduate institutions currently represented at Harvard Law School:

http://www.law.harvard.edu/prospective/jd/apply/undergrads.html

In addition to accounting for the possibility of graduate school, you may also want to consider potential career paths when determining whether to break the bank on an elite college.   If you are fortunate enough to have developed one or more career-related interests, make it a point to research salaries and entrance requirements in your prospective profession(s).  Upon doing so, ask yourself the following questions: How many years of education (post high school) are required? What does the average employee earn?  Does earning a degree from an elite institution put me at a significant advantage over other job candidates in my field?

For example, if you aspire to a career in finance, you may find that shelling out a significant amount of money for an elite undergraduate degree is a worthy investment, given that school prestige plays a considerable role in the hiring process and that your anticipated income will be sufficient to cover a sizable monthly loan payment.  However, if you dream of becoming a school teacher, you may find that spending an exorbitant sum on your undergraduate education is not the smartest idea, since there are a number of affordable, public universities which offer excellent teacher prep programs and tremendous opportunities to network with potential employers;

Whatever path you decide to travel, it is always wise to place college within the context of your current circumstances and future goals.  Your life and education do not end upon receiving your undergraduate degree, so plan accordingly.  And if you find that attending an elite institution is either unaffordable or financially impractical, don’t distress.  There are hundreds of excellent, relatively inexpensive colleges, which can provide you with the knowledge and skills you need to effectively pursue your career ambitions.

In today’s hypercompetitive college admissions landscape, standardized tests are a “necessary evil.”  Sure, four hours in a fluorescent-lit room with these grueling exams could pass for cruel and unusual punishment in some countries, but let’s face it, colleges need a way to level the highly variable academic playing field from which its prospective students apply.  The SAT and ACT are not perfect, but most institutions still believe that these exams offer the best way of putting applications into their right perspective. So, unless you’re applying exclusively to the handful of schools that have done away with evaluating SAT/ACT test scores, standardized testing is a reality that you will have to confront, sooner or later.   This being the case, which test should you choose? The SAT or ACT? The right (albeit unpleasant) answer is BOTH!

While most colleges require that students take either the SAT or the ACT, it is in your best interests to take each exam at least once. Why?  Most institutions will use your best standardized test score when assessing your prospects for admission. Contrary to popular belief, admissions officers want to admit you, and as such, are willing to evaluate your application in the best possible light.  Translation: at most schools, a stellar ACT score can be used in lieu of an average or substandard SAT score, and vice versa. Now, before you begin getting all those warm and fuzzy feelings towards these seemingly kindhearted admissions officers, please keep in mind that this commonly-used policy is not based on altruism alone.  Better test scores make for better colleges… well…at least in the public eye.  There are few better ways to rise in the rankings or to secure that special feature in the latest “most competitive colleges” guide book than to boost the (perceived) average standardized test score of next year’s incoming freshman class.  So, the motives behind standardized test policies aren’t completely innocent, but they nevertheless benefit you, so take advantage and play the odds!

One more piece of advice: Currently, there are a number of articles out there, which aim to predict on what test you will score best. Ignore them! Yes, possessing a prodigious vocabulary may predict a better SAT, and a love of trigonometry could predict that you‘ll do better on the ACT.   But life (and testing) is unpredictable.  As famous sportscaster, Chris Berman, says, “That’s why they play the game.” So lace em ‘up and give both tests your best shot.  Take the SAT and ACT.