HomeschoolingUniversity Wrote:Thank you all for your replies! I don't know where I got the idea that simply taking a CLEP exam *after* high school graduation could potentially affect freshman status.
Are you in a large yahoo group? LOL
That's probably the #1 question people discuss on my FB page. I have yet to understand people's fear surrounding this issue (not yours- again, this is literally the #1 question).
The majority of freshman scholarships are 1-time awards. Even getting a full tuition freshman scholarship (unusual) would mean you're trading early graduation for that scholarship. The cost in room, board, books, and fees will rival that cost dollar for dollar and your child enters the workforce at full salary one year later. In that scenario, the trade off costs you a year's salary and moves the goal post back another year.
Here's another well thought out scenario, not saying it's the best one- just saying that the math works:
11th and 12th grade dual enrollment (2 classes per semester). Even students who pay full tuition can attend an inexpensive community college like Luna CC for as low as $35/credit. For students without scores high enough to earn credit that way, the Alternative Credit Project is now up and running at 50 colleges (more added every day) and brings cost down to about $8/credit. In addition, to bring the full AA into a closed/locked transfer degree- the student can add in CLEP exams (let's say 1 per semester).
Total credit earned in high school: 48-60
Total cost roughly spent in high school: $350-2000
Average private college $15,000 per year
x 4 years
$60,000
Dorm $10,000 per year
x 4 years
$40,000
Bachelor's degree: $100,000
Projected salary upon graduation $30,000
----
entering private college as a JUNIOR: no scholarships - paying full price for 2 years = $50,000 (add in high school costs) = $52,000 --> enters workforce and works for 2 years while the other student is in school for an additional 2 years. Projected salary $30,000 x 2 = $60,000 minus cost of $52,000 and this student is already POSITIVE NET by age 20 or 21
entering private college as a FRESHMAN: $100,000. Add to the costs the 2 years of lost wages the first student has (+$60,000) and this student is NEGATIVE NET $160,000 and enters the workforce around age 23-24.
So, any "scholarships" need to come off the $160,000 to get a real sense of the math. 10 years post graduation- student 1 is has earned $300,0000 while student 2 is only 8 years post and only at $80,000 net.
I've worked these every which way from Sunday- using different prices, different students, different colleges, different careers- I'm sure there is some scenario in which some student will be better off enrolling as a freshman- maybe they are an athlete, maybe they have exceptional scores are are getting a full ride for 4 years, I'm sure there are other ways too- but that's treating all kids like they are elite. Maybe 1-5% of kids can capture that kind of scenario- the other 95-99% of us do NOT come out ahead.
That's the whole reason parents ARE excited about dual enrollment and CLEP- because it beats the math almost every time.