High Achievers: Show Me the Money

Many parents of high achievers feel confident about the college journey. If your teen has top grades, test scores, and accomplishments, it is easy to think that scholarships are guaranteed and loans will never come into the picture. After all, if colleges love smart kids, why should you worry?

I understand that mindset, but I need to share something that surprises many families: high achievers are often the most vulnerable to student loan debt. Why? Because selective colleges are experts at using flattery to draw your teen in. They know that when a prestigious school sends an acceptance letter, it feels like winning a prize. Parents and teens alike feel honored, even thankful, to be invited into the inner circle.

Here is the catch. Getting in is not the same as affording it. Selective colleges often send small awards, what I call coupons. A coupon is just enough money to make you feel recognized, but not nearly enough to cover the bill. When your teen lands in the middle or bottom of the incoming class, they are less likely to receive the big scholarships. Instead, they get a coupon award that barely dents the cost. Families then make up the difference with student loans, all because they felt flattered to be admitted.

In Creative College Funding, I explain that colleges use these partial scholarships to entice enrollment, but the real discounts go to students who are the tippy top of the applicant pool (p. 21). If your high achiever aims only for the most selective schools, they may end up underfunded and overborrowed.

Solution
The smartest strategy for high achievers is to flip the script. Instead of chasing prestige, target colleges where your teen will be at the very top of the applicant pool. That is how you turn their accomplishments into full funding.

Here is how you do it:

• Beware of flattery. An acceptance letter feels good, but never mistake admission for affordability.
• Recognize “coupon” scholarships. If the award barely makes a dent, isn’t renewable, and “everyone gets one,” it’s not enough. Coupons are marketing tools, not funding strategies.
• Aim to be the tippy top. Choose colleges where your teen’s GPA and scores are higher than most applicants. That is where the full-ride and full-tuition scholarships are offered.
• In state for the win. In-state colleges often reserve the best funding for those willing to stay local.
• Compare offers, not prestige. Line up the net price calculators side by side and ask, “Which school leaves us the lowest cost to cover?”
• Keep the goal clear. If your teen is a high achiever, the prize is not just getting in. The prize is graduating debt-free.

If you are the parent of a high achiever, I want to encourage you to pause before celebrating every acceptance letter. Colleges are counting on flattery to pull you in, but you do not have to take the bait. Your teen’s hard work deserves more than a coupon award. It deserves full funding.