Students at top of one or more of their classes should first ask those teachers to write a letter of recommendation (LOR). However, if a teacher balks, is least bit hesitant or shows no enthusiasm about prospect of writing such a letter, another teacher, one who is likely to make student shine, should be approached instead. A less than exemplary LOR is virtually worthless!

Chose wisely. I often review LOR’s for content and grammar, and am constantly amazed at how careless and lax some teachers, counselors and other well-intentioned people can be with a letter of such great importance! Choose teachers who have expressed a genuine interest in student’s future.

Most schools require LOR’s from guidance counselors, and some ask for one or more from student’s English, Science and/or Math teachers. Additional LOR’s, letters other than those requested on school’s application, are also recommended. I suggest no more than two extras, unless a third is absolutely extraordinary.

Unless student is an athlete, any teacher is preferable to a coach unless coach actually teaches a core or standard subject such as English, Chemistry, History, Math, or Language. In some cases, writer actually asks student for an outline of what they should write! Each letter should be from someone who knows student well, such as:

•A college professor (excellent)

•A high ranking military officer (also excellent)

•A member of clergy

•Chairman or officer of a major corporation

•A member of a volunteer organization where student worked

Planning for college can begin as early as birth, and for that matter, even before birth. Financial planning in early years can make all difference in world when it comes time to have to cough up all that cash! The following are some of best ways to save for college:

Custodial Accounts: With Uniform Gift or Uniform Transfer to Minors Act Accounts (UGMA or UTMA), parents, grandparents, etc. can each contribute up to $11,000 per student per year (2005). This money can be used for college or any other purpose. Although money remains in student’s name, custodian, usually a parent, has absolute control over account – i.e. stocks, bonds, mutual funds, savings, etc. UGMA accounts accept cash only. UTMA accounts accept cash and property.

The Downside: UGMA and UTMA accounts are irrevocable gifts that are considered student assets. Since students have no asset protection allowance, these assets are assessed at either 25% per year at schools that employ institutional methodology, (Ivy League and high profile private colleges), or 35% per year at all rest that employ federal methodology! Therefore, this option must be used with extreme caution!

Education IRA’s a/k/a EIRA’s: Single parents with an adjusted gross income (AGI) of up to $110,000, and joint filers with AGI’s up to $190,000, can contribute up to $2,000 annually to an EIRA. Earnings accumulate tax-free and can be withdrawn tax-free without penalty to pay for a private elementary, secondary, or college education.