January 31, 2008 Collegebound and nervous? Financial aid woes? Play video

(NECN) - If you are the parent of a high school senior or perhaps collegebound yourself, this can be a stressful time of year as students wait to get a hopefully thick envelope in the mail from the college of their choice.

Many schools have reported a record number of applications this year and at the same time, some of the country's most elite schools are increasing their financial aid packages.

So, what does it all mean for collegebound kids?

Jack Maguire, a former admissions dean at Boston College and the chairman and founder of Maguire Associates, a higher-education research firm, joins NECN's Josh McElveen on The Chet Curtis Report.