Overview of ChooseFI Episode 624: The Rules of College Have Changed
Brian Eufinger returns to update families on how dramatically the college admissions and affordability landscape has shifted since 2019. The big themes: test-optional policies are fading, GPA and course rigor matter more than ever, AI is undermining essays and recommendation letters, merit aid is still very real, and families now need to pay close attention not just to admissions odds but to the financial stability of the colleges themselves. The conversation also highlights one of the biggest wins for financial literacy: personal finance is finally becoming a mainstream high school requirement.
Key Changes in College Admissions
Test-optional is reversing
- The post-COVID “test optional” era has largely swung back toward standardized testing.
- Many major schools and systems are reinstating or preferring SAT/ACT scores, including:
- Ivy League schools
- Military academies
- Florida, Georgia, Tennessee systems
- Notre Dame and others
- For families with younger students, the rules are still likely to change before college applications begin.
GPA and rigor matter from day one
- High school GPA now starts counting immediately in 9th grade.
- Course rigor matters more because many applicants have far more AP/IB/dual enrollment courses than students did a decade ago.
- Brian stressed that taking hard classes early and not skipping AP exams can save students substantial time and money in college.
Grade inflation is a bigger issue
- Colleges increasingly distrust GPA alone because of widespread grade inflation.
- Example cited: UC schools are test-blind, which makes GPA even more important — and still not enough to fully distinguish applicants in a heavily inflated grading environment.
AI, Essays, and Recommendations
Essays are becoming less important
- Many schools are dropping supplemental essays because AI makes them easier to fake or heavily assist.
- Brian predicts essays may eventually be reduced further or replaced by monitored writing samples.
Recommendation letters are also losing weight
- Teachers are overburdened and students can overuse AI to help craft them.
- Colleges are increasingly aware that these materials are less reliable than before.
What still matters most
- Brian argues that the most verifiable and important parts of applications are:
- GPA
- Course rigor
- Standardized test scores
Merit Aid, Sticker Price, and College Affordability
Sticker price is not the real price
- Families should focus on net price, not published tuition.
- Many colleges offer automatic merit aid based on GPA and test scores.
- Some schools and state programs offer substantial aid for higher scores or specific academic thresholds.
More aid is available than many families realize
- A higher SAT/ACT score can translate into tens of thousands of dollars in merit aid.
- Some schools guarantee strong aid or limit debt for families under certain income thresholds.
- Brian emphasized that the right school choice can have a 40-year financial impact.
Important fine print
- Need-based aid formulas can treat families differently depending on:
- Self-employment income
- Rental property holdings
- Retirement accounts
- Home equity
- Families with significant assets but low current income should be cautious and may need expert help understanding how aid formulas will treat them.
College Closures and Financial Due Diligence
Colleges are closing at an alarming pace
- Brian says colleges have been closing, merging, or effectively disappearing at roughly one per week in recent years.
- Smaller private schools, especially in the Northeast, are among the most vulnerable.
- Public universities are generally less likely to close because of taxpayer support.
Families should check a college’s financial health
- He recommends looking up rankings or reporting that evaluate a school’s financial stability before enrolling.
- This matters because a closure while attending can disrupt credits, transfers, and degree completion.
The winners are expanding
- Well-endowed schools are opening satellite campuses and growing geographically.
- Examples mentioned include:
- Carnegie Mellon expansion
- Northeastern campuses
- Vanderbilt satellite growth
- There’s a widening gap between financially strong institutions and struggling ones.
Personal Finance Education Is Finally Growing
A major positive development
- A new AP course in Business and Personal Finance is gaining traction.
- What started as personal finance requirements in only a handful of states has expanded to over 30 states.
- Brian said this is one of the most exciting changes in education.
Why it matters
- Students can now learn practical skills without hurting their GPA, because it’s an AP course.
- The class combines business basics and personal finance concepts that are directly relevant to adult life.
- Brian sees this as a huge win for students, families, and future financial literacy.
SAT/ACT Strategy and Test Prep
The tests are shorter, but more volatile
- The SAT and ACT have been shortened substantially in the digital era.
- That means each question carries more weight, and scores can be more variable.
- Students may need to test more than once.
Timing matters
- Brian recommends starting seriously once sophomore year is ending and junior year is approaching.
- Algebra II completion is the key benchmark, since math is the biggest driver of test performance.
- He urged families to map test dates against sports, travel, and family events early.
Super scoring still helps
- Around 90% of schools accept superscoring.
- Families can often combine the best section scores from multiple test dates.
- He recommends waiting to send official scores until all testing is complete.
Taking the test multiple times is normal
- There is usually no penalty at most schools for multiple attempts.
- The best strategy is to focus on improvement and submit only the strongest scores.
College Choice Has Long-Term Financial Consequences
The school you choose can change your future
- Brian gave examples of students who chose lower-cost schools over far more expensive options and used the savings to build wealth.
- One anecdote involved a student who used college savings to buy property near Georgia Tech and could potentially retire early.
Side hustles and earning skills matter
- Brian highlighted the value of student side hustles and entrepreneurial thinking.
- He sees this as a practical way to reduce debt and build real financial capability.
Alumni networks matter too
- Beyond sticker price, Brian believes families should think about the value of a school’s alumni network.
- He shared an example of a Wake Forest couple whose alumni connections helped them recover quickly after job losses.
Big Takeaways for Parents and Students
For parents of younger kids
- Start early:
- Focus on GPA from 9th grade onward
- Choose rigorous classes
- Plan for test prep around real life schedules
- Understand that college admissions rules may continue changing.
For families of college-bound students
- Don’t assume sticker price equals actual cost.
- Investigate merit aid, net price, and school financial health.
- Use standardized test scores strategically, especially where merit aid is available.
For students
- Learn personal finance early.
- Treat standardized tests like coachable skills.
- Don’t rely on essays alone to “save” an application.
- Think carefully about the long-term value of the school you choose.
Notable Insight
“The big three” for applications are GPA, rigor, and test scores.
Brian’s core message throughout the episode is that college is still a major financial decision, but the rules have shifted. Families who understand the new landscape early can save a huge amount of money and avoid painful mistakes.