Whenever you make a major purchase in life, whether it’s an appliance, car, or new home, you feel better knowing it comes with a warranty. That little piece of paper, which usually states that your product will function as planned for a certain period of time, allows you to relax and enjoy the product worry-free, until it breaks down and you realize you forgot to read the fine print. Now, colleges are getting in on the act. Over the last few years, many colleges have jumped into the arena with their own version of a ‘warranty’ by offering incoming freshman a four-year graduation guarantee. Sounds like a great deal, right? Not so fast. Like many product warranties, you’ll need to read the fine print to understand the complexity of some of the offers and what exactly is covered. Here are just a few of the many stipulations you may have to meet when you sign up for a college graduation guarantee.
Declare a Major – Many of the colleges that participate will require you to declare a major when you enroll or at the very least, will require you to do so by the start of your sophomore year. Should you decide to change majors, your contract may no longer be valid, which happens in many cases.
Enroll in Required Classes – This sounds like a no-brainer, right? Guess again. Some of the colleges will actually require you to register for classes within two days of your scheduled enrollment date (procrastinators beware!), which means you need to have a list of the courses required, as well as a back-up list (in case some of the classes are filled). Here’s another tricky catch; should there be a class you need that is available, but it’s not at a time that you prefer (early morning, late night, etc.) or can accommodate (conflicts with your work schedule), you will probably be required to register for it or forfeit your guarantee. Those dreams of taking classes Tuesday through Thursday may not work under all agreements.
Meet With Your Advisor – Although it is a good idea to check in with your academic advisor at least once every year, some of the colleges offering four-year graduation guarantees actually require you to visit with your advisor every semester. A few colleges may require your participation in educational programs, as well.
Maintain a Full Schedule – Under many four-year graduation guarantees, you may be required to enroll in a minimum of 15 to 18 credit hours per semester, or at least 30 or more credits per year. This means that you may have to take a summer semester (or two) to ensure you meet the stipulations of your contract. If you have to work, it may be difficult to meet the required number of credits required, and in some cases, colleges actually limit the number of hours students are allowed to work. Be sure to ask about this prior to making a commitment, especially if you need a job to help pay for your tuition and other college expenses.
The colleges are bound by some rules, as well. Most will have to allow you to substitute a class if it is not available, or be allowed to participate in an independent study project to fulfill your required credit hours; some colleges will even provide priority registration. If you are unable to graduate in four years (due to a failure on the college’s behalf), you may receive free tuition for any remaining classes needed to complete your degree. It sounds too good to be true, right? In actuality, most colleges don’t end up having to pay very much, if any, to students who sign up for the guarantee. In fact, the University of the Pacific, which has been offering a four-year graduation guarantee since 1991, typically pays fees for about two students each year.
With the majority of the burden to graduate placed on your shoulders, there are just too many opportunities over four years for you to actually break the contract. Although a four-year graduation guarantee may sound like a great perk, be sure to do a little research and read the fine print before committing to any school. It may also be a good idea to look into colleges with higher four-year graduation rates, as these schools typically work with you to complete your degree on time, without the restrictions of a written guarantee. College is a major financial commitment, so take the time to find the school that is right for you.
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