Finding Your College “Unicorn”: Questions to Guide Your Search

Choosing the right college is one of the biggest decisions a family can make, and the stakes—both financially and personally—are incredibly high. Recently, I read The Price You Pay for College by Ron Lieber, a personal finance columnist for The New York Times. The book is full of insights, research, and real-life stories that help make sense of the college search process. I wanted to share some of the key questions and thoughts that stood out to me. Hopefully, these can guide you toward finding your “unicorn”—the school that’s the best fit academically, socially, and financially.

Of course, navigating this process can feel daunting, especially when you factor in finances. That’s why having a tool like MyCAP can make all the difference. Whether you’re just beginning your search or getting ready for college visits, MyCAP provides essential information, cost estimates, and comparison tools to help families make smarter choices. Let’s dive into some critical questions to ask and how MyCAP can support you along the way.

Key Questions to Ask College Administrators

When visiting schools or speaking with admissions representatives, it’s important to dig deeper than just the basic stats you find online or in brochures. Here are some key questions that can reveal what a school is really like behind the scenes:

• What is the difference between your list price and your actual cost to educate a student?
• What is the student-to-teacher ratio, excluding graduate students who teach?
• What percentage of first-year classes are taught by full-time, tenured professors? This helps you gauge how much interaction students will have with experienced faculty members.
• What percentage of professors are adjuncts?
• How does your school handle mental health services, and what percentage of students are on medication or seek counseling?
• What percentage of students secure internships that align with their studies?
• What percentage of students have either a faculty or community mentor?
• How does each department measure learning outcomes?
• How does your school encourage adversity management in students?
• Are professors there to support students through challenges, both academic and personal?

These questions go beyond the usual promotional materials and rankings. They help you get a sense of what the student experience is really like.

Pro Tip: Before asking these questions, it helps to know what you can afford. MyCAP offers a Net Price Calculator feature that gives you an estimate of the actual cost of attending each college on your list. This allows you to have a more informed conversation with administrators about the value the school provides in relation to its cost.

Key Questions to Ask Students

Who better to ask about college life than the students who live it every day? During campus visits, make a point to ask current students questions like:

• Tell me about the biggest clash of ideas you’ve seen in a classroom. Did any discussions change your perspective or beliefs?
• Who are your three closest friends here, and how did you meet them? This can give you insight into how easily students form relationships.
• What surprised you the most when you became a student here?
• If you could change one thing about this college, what would it be?

Not only do the answers matter, but so do the students’ reactions. Are they excited to talk about their experiences, or do they hesitate? This can tell you a lot about the campus culture.

Key Questions to Ask Yourself

Picking a college isn’t just about numbers and reputation; it’s about what you want out of the experience. Here are some self-reflection questions to consider:

• Is college for me transformational or transactional? Are you going to shape yourself as a person or just to earn a degree? Your answer can help weigh costs and the return on investment.
• How much does keeping up with the Joneses matter? If you’re stretching your finances to attend a prestigious school, ask yourself if you’ll feel pressure to keep up with wealthier classmates.
• What is the true value of college to me? Will it help you develop skills, build relationships, or find mentors that set you up for success?
• Am I likely to skip classes if I feel anonymous? If so, a smaller school might be a better fit for you.

Pro Tip: As you reflect on these questions, use MyCAP’s Personalized College Cost Estimates to see how each school on your list stacks up financially. This will give you a clear picture of what each option will cost and how it aligns with your values and priorities.

Using MyCAP to Find Your College “Unicorn”

Finding that perfect “unicorn” school is all about balancing what you want academically, socially, and financially. With so many variables to consider, having the right tools can make all the difference in your search. Here’s how MyCAP helps you make the most out of every stage in your journey:

• Personalized College Cost Estimates: With MyCAP, you can enter your family’s financial details to get a personalized cost estimate for each school on your list. This makes it easier to narrow down your options and focus on colleges that fit your budget.
• Compare Financial Aid Offers: Once you receive financial aid packages, MyCAP lets you compare them side by side. This way, you can see which schools offer the best value, helping you make an informed choice that aligns with your long-term financial goals.
• “Right-Fit” School Matching: Still trying to figure out where to apply? MyCAP can suggest schools based on your academic, social, and financial preferences, helping you build a list of potential “unicorn” schools to explore.
• Organize Your College List: As you visit campuses and gather information, MyCAP provides a platform to save and manage your top choices. This makes it easier to keep track of which schools align with your academic and financial goals.
• Scholarship Finder: Worried about stretching your finances too thin? MyCAP has a Scholarship Finder to help you uncover additional funding opportunities, making it easier to afford your dream school without compromising your long-term financial security.

By using MyCAP before, during, and after your college visits, you’ll be better equipped to ask the right questions, gather essential information, and make a choice that feels right both academically and financially.

Ready to Find Your College “Unicorn”?

The college search can be overwhelming, but it doesn’t have to be. With the right questions and tools, you can find the school that’s the best fit for you or your child. MyCAP offers a comprehensive platform to support you every step of the way, from understanding costs to comparing financial aid packages.

If you’re ready to take control of your college planning journey, create a free MyCAP account today and get the insights you need to make the smartest decisions for your future.

For more personalized help with building or narrowing your college list, don’t hesitate to reach out to a Certified College Financial Consultant (CCFC), like Chuck Bates, for expert guidance. Book a consultation with Chuck Bates and take that next step toward finding your college unicorn!

About the Author: Chuck Bates

Chuck Bates is a financial advisor and certified college financial consultant (CCFC) dedicated to helping families make sound financial decisions. Chuck has over 25 years of experience in the finance industry, including 16 years at Bridgeway Capital Management, a multi-billion-dollar asset management company. As a financial advisor, Chuck is passionate about helping families balance the high cost of college education with their long-term financial goals, such as saving for retirement. His expertise as a certified college financial consultant (CCFC) allows him to provide invaluable guidance on paying for college while also ensuring families are planning for their future financial security.