Choosing a Financial Safety School


Published:

Shutterstock photo

Making college contingency plans is entirely antithetical to the passion-filled optimism pulsating through the average teenage brain. Counting on your son or daughter to make a post-secondary backup plan is like expecting Romeo and Juliet to respond to their parent-mandated breakup with an unemotional resolve to “see other people.”

Even if your child is focused on attacking his or her applications to Ivy League schools with military precision, he or she is unlikely planning for a less-than-ideal outcome of a safety school. For those without unlimited funds at their disposal, having what is known as a “financial safety school” should be of equal importance.

Financial Safety Schools Defined

The criteria for what constitutes a financial safety school varies based on your child’s unique academic profile, as well as your own financial situation. However, two tenets of a solid financial safety school are universal:

1. Your teen’s chances of acceptance at this college are pretty much guaranteed because of his or her standardized test scores, GPA and class rank are significantly above the averages for an accepted student — and even better than those in the 75th percentile at that particular institution.

2. You, as parents, are comfortable covering 100 percent of the tuition, room and board, and other fees. This doesn’t necessarily mean you have the cash on hand to cover the entire expense — few do. But it does mean that you have a plan to cover the cost, even if it means taking out low-interest government loans.

Who Needs a Financial Safety School?

All college applicants, even those at the top of the applicant food chain, need a safety school. But not every applicant needs a financial safety school. If you have more than $200,000 in your child’s 529 account or happen to be extremely well-off, you don’t need to pick a financial safety school.

The most expensive schools in the country, which include institutions such as New York University, Harvey Mudd College and the University of Southern California, all cost upwards of $66,000 dollars per year, translating to a grand total of $264,000 for a bachelor’s degree, significantly more than the average home price in the U.S. If that number doesn’t make you cringe, you can stop reading this column right now. For everyone else, read on.

Picking a Good Fit

It won’t be hard to find colleges and universities that meet the above criteria. The challenge will be finding an institution that meets both of those critical standards and is a school your student would genuinely like to attend. Here’s an example scenario.

Jenny lives in Delaware. Her parents earn a combined annual income of $135,000 but do not have much money saved to cover college tuition bills. Jenny has a SAT score of 1370, has taken seven AP courses and ranks in the top 10 percent of her class at her public high school. She wants to major in economics and stay on the East Coast.

Lehigh and Bucknell universities in Pennsylvania, Trinity College in Connecticut, and George Washington University in Washington D.C. are Jenny’s target schools, at which she is confident she has a 50-50 or better chance at admission. For safety schools, she will fill out applications for Rutgers, Syracuse and Iowa State universities. Let’s examine what is wrong with these choices.

Rutgers (out of state) and Syracuse (private) universities won’t come cheap, and while Jenny is likely to be offered some merit aid, this is an uncertainty.

The perfect financial safety school for Jenny is actually in her own backyard. The University of Delaware’s Alfred Lerner College of Business and Economics has a strong reputation and admits two-thirds of its applicants. Her SAT score ranks well above the 75th percentile and the total four-year cost is right around $100,000, making the University of Delaware ideal from both an admissions and academic standpoint.

The Bottom Line

Planning for doomsday scenarios is not nearly as exciting as dreaming about receiving an acceptance letter from a dream college, but it can be a dangerous task to neglect. Students who thoughtfully select a quality financial safety school can breathe easier as they await financial and merit aid notifications from their top-choice schools.

While your young adult can and should be in the driver’s seat through much the application process, parental intervention may be necessary to ensure he or she doesn’t experience the college admissions-equivalent tragic fate met by the young lovers from the houses of Capulet and Montague.


Dave Bergman, Ed.D., is a co-founder of College Transitions and co-author of “The Enlightened College Applicant: A New Approach to the Search and Admissions Process.” Learn more at collegetransitions.com.

 

Edit ModuleShow Tags

Related Content

Importance of Geographic Diversity and College Admissions

A willingness to travel can lead to improved admissions prospects and better financial aid offers.
Edit Module
Edit Module

About this Blog

College Transitions

Expert advice for finding the right fit


About This Blog

College Transitions is a team of college planning experts committed to guiding families through the college admissions process. As counselors and published higher education researchers, we aim to bring perspective (and some sanity) to college planning, and we strive to provide students with the support they need to enroll and succeed at a college that is right for them. Learn more at collegetransitions.com

Read all blog posts »

Edit ModuleShow Tags
Edit ModuleShow Tags

Calendar

December 2017

Take part in a class that teaches individualized ways to foster motor development for your child. Learn about tummy time alternatives, best positions for your baby, how to help your child learn to...

Cost: $18

Where:
Open Arts
1222 Copeland Oaks Dr.
Morrisville, NC  27560
View map »


Sponsor: Babies On The MOVE
Contact Name: Rebecca Quinones
Website »

More information

Join Mindful Families of Durham, a Buddhist-inspired spiritual community that supports area parents, caregivers, and their children in the practice of mindfulness and the understanding of the...

Cost: Free

Where:
Erwin Road
Durham, NC  27705
View map »


Sponsor: Mindful Families of Durham
Contact Name: Adam, Laura, Josh, Sumi
Website »

More information

Take part in a class that teaches individualized ways to foster motor development for your child. Learn about carry positions, best positions for your baby, how to help your child learn to crawl,...

Cost: $18

Where:
Open Arts
1222 Copeland Oaks Dr.
Morrisville, NC  27560
View map »


Sponsor: Babies On The MOVE
Contact Name: Rebecca Quinones
Website »

More information

Barriskill Dance Theatre School present its annual production of Tchaikovsky's Nutcracker Ballet. Purchase tickets online.

Cost: See website for fees

Where:
Reynolds Theater, Duke University
125 Science Dr.
Durham, NC  27708
View map »


Website »

More information

Enjoy a family Chanukah concert from local band, Mishpacha (Hebrew for “family”). Mishpacha’s music is influenced by a variety of musical genres including folk,...

Cost: Free

Where:
Quail Ridge Books
4209-100 Lassiter Mill Rd.
Raleigh, NC  27607
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Join Burning Coal Theatre Company as it presents a stage production based on the children's novel by JM Barrie. Purchase tickets online.  

Cost: $25/adult, $15/student

Where:
Burning Coal Theatre
224 Polk St.
Raleigh, NC  27601
View map »


Telephone: 919-834-4001
Website »

More information

Learn about winter. Sip pine needle tea, and observe the ice and snow through hands-on science experiments. All ages with adult. Registration required. 

Cost: $1/person

Where:
Crowder District Park
4709 Ten-Ten Rd.
Apex, NC
View map »


Telephone: 919-662-2850
Website »

More information

Cary Ballet students presents a condensed version of the holiday story for younger audiences. Join Clara, her heroic nutcracker, the evil Mouse Queen and all of Clara’s colorful friends on a...

Cost: $21-$25

Where:
Cary Arts Center
101 Dry Ave.
Cary, NC  27511
View map »


Sponsor: Cary Ballet Company
Telephone: 919-200-3939
Contact Name: Michelle Gisondi
Website »

More information

Build a LEGO menorah, discover chocolate making and enjoy games from 3-4:45 p.m. at the Apex Community Center. At 5 p.m., a menorah lighting and fire show take place at 220 N. Salem Street in...

Cost: Free

Where:
Downtown Apex
, NC


Website »

More information

Enjoy a family-friendly holiday gospel tradition. The show, created by Langston Hughes, features soaring singers, inspirational dancers and the heartwarming and humorous procession of...

Cost: $26/adult, $22/student

Where:
Stewart Theatre, N.C. State University
Raleigh, NC


Website »

More information

Enjoy a 3.5-hour bus tour in the heart of downtown Raleigh during the holiday season. Pullen Park Holiday Express tickets included. Purchase tickets online.

Cost: $55/adult, $39/child

Where:
Downtown Raleigh
, NC  27601


Website »

More information

The Triangle Youth String Orchestra performs its annual holiday concert. All ages. Purchase tickets online.

Cost: $15/adult, $5/child

Where:
Athens Drive High School Auditorium
1420 Athens Dr.
Raleigh, NC  27606
View map »


Website »

More information

Cary Ballet students presents the holiday story of Clara, her heroic nutcracker, the evil Mouse Queen and all of Clara’s colorful friends. The Raleigh Boychoir's Resident...

Cost: $21-$25

Where:
Cary Arts Center
101 Dry Ave.
Cary, NC  27511
View map »


Sponsor: Cary Ballet Company
Telephone: 919-200-3939
Contact Name: Michelle Gisondi
Website »

More information

Join in celebration of Hanukkah with a group menorah lighting (bring your menorahs from home), fun crafts for the kids, latkes, jelly doughnuts and more. This fundraising event is open to the...

Cost: $10 children 3-18, $12 adults. At the door: $12 children 3-18, $15 adults

Where:
Beth Meyer Synagogue Social Hall
504 Newton Road
Raleigh, NC  27615
View map »


Sponsor: Beth Meyer Preschool
Contact Name: Michelle Panek
Website »

More information

Enjoy a family-friendly holiday gospel tradition. The show, created by Langston Hughes, features soaring singers, inspirational dancers and the heartwarming and humorous procession of...

Cost: $26/adult, $22/student

Where:
Stewart Theatre, N.C. State University
Raleigh, NC


Website »

More information

Come experience O'Henry's classic Christmas tale “The Gift of the Magi." Be transported back to the Roaring '20s in...

Cost: $25

Where:
Sonorous Road Theatre
3801 Hillsborough St, Suite 113,
Raleigh, NC   27607
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...

Create a snow globe to take home. All ages with adult. Registration not required. Meet at the Cardinal Shelter. 

Cost: Free

Where:
Crowder County Park
4709 Ten Ten Rd.
Apex, NC
View map »


Telephone: 919-662-2850
Website »

More information

See 10 unique play homes built by Terramor, with $10 raffle tickets available per play home benefitting Duke Children’s Hospital and the YMCA of the Triangle. The Play Homes include a fire...

Cost: $10.00/raffle ticket

Where:
Terramor Homes Corporate Office
7208 Falls of Neuse Road, #201
Raleigh, NC  27615
View map »


Sponsor: Terramor Homes
Telephone: 919-810-2504
Contact Name: Rebecca Newsome
Website »

More information

Family members join teams to shoot foul shots for a chance to win a holiday ham. See website for age divisions and times. No registration necessary.

Cost: Free

Where:
Apex Community Center
73 Hunter St.
Apex, NC  27502
View map »


Telephone: 919-249-3402
Website »

More information

Enjoy a family-friendly holiday gospel tradition. The show, created by Langston Hughes, features soaring singers, inspirational dancers and the heartwarming and humorous procession of...

Cost: $26/adult, $22/student

Where:
Stewart Theatre, N.C. State University
Raleigh, NC


Website »

More information

Show More...
Show Less...

Explore toys that children enjoy all over the world. Make a toy to take home and read a story. All ages with adult. Register online.

Cost: $1/person

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, NC
View map »


Telephone: 919-856-6675
Website »

More information

See a family-friendly movie on a big screen. Take snacks and a blanket. Doors open at 9:30 a.m. Children must be accompanied by an adult.

Cost: Free

Where:
The Halle Cultural Arts Center
237 N. Salem St.
Apex, NC  27502
View map »


Website »

More information

Children's Book Buyer Sarah reads stories to babies, toddlers and preschoolers.

Cost: Free

Where:
McIntyre's Books at Fearrington Village
2000 Fearrington Village Center
Pittsboro, NC  27312
View map »


Website »

More information

Kids ages 6 and younger enjoy stories. Take part in an optional arts and crafts session after storytime for $5.

Cost: Free

Where:
Read With Me Book Shop
111 E. Hargett St., $110
Raleigh, NC  27601
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...

Toddler Time is a special time for ages 5 and younger to bounce under the supervision of their parents, and without interference from the big kids. Purchase tickets online.

Cost: $7-$10

Where:
Sky Zone Durham
1720 Guess Rd., Ste. 90
Durham, NC  27701
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...

Explore creative movement. Ages 2-5 with caregiver. Purchase tickets online.

Cost: $5/member, $8/nonmember

Where:
N.C. Museum of Art
2110 Blue Ridge Rd.
Raleigh, NC  27607
View map »


Website »

More information

Explore creative movement. Ages 2-5 with caregiver. Purchase tickets online.

Cost: $5/member, $8/nonmember

Where:
N.C. Museum of Art
2110 Blue Ridge Rd.
Raleigh, NC  27607
View map »


Website »

More information

Explore creative movement. Ages 2-5 with caregiver. Purchase tickets online.

Cost: $5/member, $8/nonmember

Where:
N.C. Museum of Art
2110 Blue Ridge Rd.
Raleigh, NC  27607
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...

Kids enjoy crafting and nature while parents enjoy holiday shopping. Take a lunch and water bottle. Ages 6-10. Meet at the park office. Registration required online. 

Cost: $16/child

Where:
Harris Lake County Park
2112 County Park Dr.
New Hill, NC  27562
View map »


Sponsor: Harris Lake County Park
Telephone: 919-387-4342
Contact Name: Joanne St.Clair
Website »

More information

Kids hike, make projects and engage in nature activities. Ages 5-8. Register online.

Cost: $9/resident, $12/nonresident

Where:
Stevens Nature Center/Hemlock Bluffs
2616 Kildaire Farm Rd.
Cary, NC  27518
View map »


Telephone: 919-387-5980
Website »

More information

Learn what the Ingalls family did to survive one especially long winter and how they celebrated Christmas. Taste an old-fashioned peppermint candy stick and take home a homemade holiday craft. Wear...

Cost: $6/child

Where:
Historic Yates Mill County Park
4620 Lake Wheeler Rd.
Raleigh, AL
View map »


Telephone: 919-856-6675
Website »

More information

A wonderfully kid-paced hour featuring music, play and dancing with toddler stars singing on the mic at Cotton's gently amplified & participatory music show. Children delight in...

Cost: Free with admission

Where:
Pump It Up Raleigh
10700 World Trade Blvd, #112
Raleigh, NC  27617
View map »


Sponsor: Pump it Up
Telephone: 919-828-3344
Contact Name: Owner/manager Kellie Paterson McHugh
Website »

More information

The Raleigh Boychoir presents its annual holiday concert. Purchase tickets online.

Cost: See website for fees

Where:
Edenton Street United Methodist Church
228 W. Edenton St.
Raleigh, NC  27601
View map »


Website »

More information

With over 25 years of singing experience, Cinnamon Ruth Leggett has engaged audiences in off-Broadway performances. Celebrate the season with a special first time musical appearance from her...

Cost: Free

Where:
Millbrook United Methodist Church
1712 E. Millbrook Rd.
Raleigh, NC  27609
View map »


Sponsor: CRLStudios
Telephone: 919-889-9332
Contact Name: Roberta Greene
Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Come experience O'Henry's classic Christmas tale “The Gift of the Magi." Be transported back to the Roaring '20s in...

Cost: $25

Where:
Sonorous Road Theatre
3801 Hillsborough St, Suite 113,
Raleigh, NC   27607
View map »


Website »

More information

Take the family to this witty and warm journey through a lifetime of Christmases as Scrooge finally finds redemption, charity and love. Purchase tickets online.

Cost: $15 and up

Where:
Kenan Theatre
120 Country Club Rd.
Chapel Hill, NC
View map »


Website »

More information

Show More...
Show Less...
Edit Module

Magazine

Edit ModuleShow Tags
Edit ModuleShow Tags

Directories

Edit ModuleShow Tags Edit ModuleShow Tags

Annual Guides

Education Guide

The 2017-18 Education Guide offers 660 education resources in the Triangle, including area preschools, private schools, public school systems, charter schools, boarding schools and academic resources.

The Triangle Go-To Guide

Our debut Triangle Go-To Guide connects you to family fun resources across the Triangle. Plus, find out who our 2017 Readers' Favorites are.
Edit ModuleShow Tags