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As college counsellors, we are all very familiar with the following three words: reach, target and safety. These words form an integral framework used frequently in our practice, with the aim of guiding students to find their best-fit schools. 

The words “reach”, “target”, “safety” (or “opportunity”) are so useful because they are immediately intuitive for all stakeholders. They likely form an indispensable part of our college-counselling curriculum, taught to students and parents as they start building their list. 

Whether a school belongs to “reach”, “target”, or “safety” is based entirely in terms of the selectivity of the school. This helps to temper lofty aspirations and frame students’ applications in more realistic terms. 

However, if we are tasked with helping students find their best-fit, most realistic university choices, we cannot forget another crucial element: budget. 

Many international-school counsellors likely work with families for whom finances are not a concern – but we cannot make this assumption for all students we work with. Just as students have unique strengths and needs, their financial circumstances can also vary greatly. 

How to frame financial fit 

We already have the vocabulary to frame our advice: “reach”, “target”, and “safety”. Simply put, is a school “financial reach”, “financial target”, or “financial safety”? 

What does this mean? A financial-reach school would be extremely difficult – or impossible – to attend without a substantial scholarship. Many US universities may fall into this category, with their price tag rising annually. 

A financial-target university would be possible for a student to attend, though not with great ease. The word “possible” here encompasses a wide range. Perhaps a student will need to take out a loan; perhaps the family may need to consider selling some assets. Or maybe the student will need to work during their studies. 

However, in contrast to financial-reach options, it will still be possible to attend these schools without a scholarship. Another way to think about it is: if a scholarship is a nice to have, but not an essential, then the school is a financial target. 

Finally, a financial-safety school is one where the family or the student would not need to worry at all in terms of finances for the entire duration of study.

I believe this framework is as important as the original framework based on selectivity that we often use. I propose it to students and parents, and remind them that including a financial-safety choice is as important as the safety school that we’re used to conceptualising in terms of academics. 

Using traditional and financial frameworks together 

If we start thinking about how the traditional reach-target-safety framework overlaps or does not overlap with a financial reach-target-safety framework, we can deliver highly tailored advice to our students. 

Some schools may be a traditional safety but a financial reach – for a high-achieving, low-income student who aims to attend university in the US, for example. For another student – perhaps whose family is wealthy but who does not have stellar grades – a school may be a financial safety but a traditional reach. Considering both frameworks makes the whole list-building process a little more complex, but ensures that the list is more watertight and fully supports the students’ needs. 

Also, keep in mind how the can impact a student’s chances of getting an offer, especially in the US context. Here, the traditional and financial reach-target-safety frameworks interact in complex ways. This is beyond the scope of this article but reading more about will be a good start.

Financial fit: other factors to consider 

Here are some other crucial factors to consider when determining financial fit: 

Living costs

Living costs vary wildly between countries, and also between urban and rural areas. Universities often list average living costs in the area, as well as a range of prices for on-campus living. Always consider living costs when calculating the total cost of attendance. is a great website to help students visualise how the city they are considering moving to compares with their current home.

Number of years of study

Some countries grant bachelor’s degrees in four years (US, Hong Kong, Canada, Scotland, Australian honours degrees) while others do so in three years (England, Europe, Australian non-honours degrees). Will you be multiplying your annual cost of attendance by three or four? This can make a big difference.

Citizenship advantage

There is often a significant difference between fees charged for home-student status and those charged for international students. 

There can also be unexpected advantages – for example, French students qualify for domestic-student rates in Quebec. Students likely already know of this, but double check, and educate yourself as a college counsellor. 

Scholarship likelihood

The likelihood of receiving scholarship varies by university and region. Some schools are quite forthcoming with the requirements. For US schools, don’t forget to consult for information about financial aid for international students. 

Avoid comparisons 

I also remind the students that everyone’s circumstances are unique and it is important for their own sakes not to start making comparisons. In terms of profile and selectivity, some schools may be a reach for one student and a safety for others. It is the same with financial circumstances – some schools that may be a financial reach for one student will be a financial safety for another (in fact, for some students, every school could be a financial safety).

I remind my students that they may fall prey to envy during this period. But to protect their own mental health, it is very important to stop one’s thoughts from wandering to unhelpful places. Everyone’s journey is unique, and it is essential to emphasise this, especially during this already incredibly stressful time. Theodore Roosevelt’s comment is helpful: “Comparison is the thief of joy.”

Finding financial fit is not an easy journey and does add extra steps to the application process. However, in order to be an inclusive college counsellor, it is an essential step for you to consider. Let us aspire to meet students’ needs as comprehensively and as mindfully as possible. 

This article was inspired by the International ACAC webinar I was recently a part of. Building your list without breaking your wallet dives into country-specific nuances as well as great platforms to use (such as Meto and Match by Concourse). You can access the slides and recording in the webinar archives of the International ACAC. If you are not a IACAC member, for more details.