Ah Spring, when a young college applicant is hopefully in the desirable position of receiving multiple offers of admission from great colleges. If that's you, then how do you choose which of these offers to accept?

According to a post on Peterson's website, this would be a good time to think about your learning style and the type of college environment in which you'd be most comfortable living and studying.  You might also check out academic programs where you're interested, and try to determine whether you'll be taught by professors or by their graduate students.  Oh, and BTW, don't forget to run the numbers to see what you'll be paying.  Anyone reading this post who has already read Winning the College Game will realize why I'm pretty disappointed in this helpful advice. 

First, this checking out of the college should happen as you are researching where to apply, so that you know all of the colleges now admitting you are schools where you can get a great education that will prepare you for the post college life you desire. There is nothing wrong with doing further research when choosing between the colleges where you were admitted, but the Peterson's article makes it sound like it's okay to postpone basic research until after you are admitted.

Second, their discussion of running the numbers points in the right direction, but doesn't tell you enough about how to do it.  You need to clearly identify the net college price for year college that admitted you before you can hope to choose the best educational value. If you aren't sure how to do this, you can get details in my Financial Aid 101 article on this website.

 So how do I recommend choosing between multiple offers?  First, make sure you have both the admission offer and financial aid offer from each college that admitted you before making your choice.  Subtract all grant aid from any source (scholarships, federal and state need grants, need grants provided by the college) from tuition, room and board (unless you'll be living at home), fees, books, and travel to determine the net cost of attending each college. 

Then eliminate any option that cost you more than another college that you like as well or better but that has a lower net cost. 

Finally, remind yourself of your purpose for going to college, and see if the higher price option(s) remaining are likely to better help you reach your goals than the lower cost option.  If the anser is yes, then ask yourself if you and your family have the resources to make it possible for you to attend that college and focus enough on your role as a student to succeed.  If the answer to that question is also yes, then the higher price option may be the better educational value for you. If the answer to either question is no, then you're likely to be better off choosing the lower cost option.

Having gone through this process to determine the best college value from your options, do a gut check and see if you are excited about attending that college. If the answer is no, see if you can identify what it is that you don't find appealing, and decide if it is likely to reduce your commitment to completing your degree. Going to a frugal college choice and then not graduating is almost always a worse option than graduating from a more expensive college.

Go through this exercise more than once, and invite your parents, friends, or other trusted advisors to listen as you walk through your thinking and ask you questions.  You can speed up these conversations by leaving out options you know aren't going to become your top choice.  With a little persistence you will probably settle on one top choice, or at worst narrow things down to a couple equally attractive offers. If you're in the latter camp, just make sure you make a decision by the earliest deposit deadline (Usually May 1st) to secure your place.