When Jenny Rosenberger’s daughter started thinking about college, she felt what a lot of parents in America do: Totally overwhelmed.
The senior vice president for Bank of America in Newark, Delaware, took one look at the application process – with its mountains of options, paperwork, and opaque admissions criteria – and didn’t quite know how to attack it all.The program not only helped her daughter Kaydria Boyer come up with a list of target schools, but gave feedback on essays, and provided tips on financial aid. The result: Acceptance to almost everywhere she applied, including the winner, Louisiana State University.
Growing concern about the costs of higher education as well as rising student loan debt is prompting companies to help employees navigate the college application process. So additional support with this complex process is a wise idea. The problem, of course, is cost: Getting private help can cost hundreds of dollars an hour, with the total bill easily getting into the thousands.
Since we are in the thick of application season, do not waste time in finding out if you have this employee benefit, especially if your teenager is looking ahead to college next fall. "People don't really understand the full costs of college, and this is one way employers can help employees make sure they are making choices they can really afford," says EBRI's Copeland.
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