Receiving college acceptances is an exhilarating prospect for hopeful applicants. An acceptance letter represents the payoff of years of preparation and exciting possibilities for the four years to come. However, with multiple acceptances comes the challenge of deciding which school to attend—after all, students can only choose one. Students and families are often faced with a plethora of variables to consider as they weigh their options, and with so many different factors to compare, it can be challenging to know how to begin the decision making process.

If your student finds that they have to make the difficult choice between schools on their list, here are five important elements they can consider in order to identify their perfect fit:

First and foremost, families and students should take their financial goals and limitations into account. College is a significant investment, so comparing the financial aid and scholarship packages offered by the schools to which your student has been accepted is a crucial component of the decision-making process. As you compare finances, remember the bigger picture—research job placement rates and average future earnings of graduates from each school or program. In some career paths or disciplinary tracks, making the greater financial investment to attend an elite university may pay off in the long run, while students in other disciplines may find that a less expensive school with a highly regarded program would better fit their needs.

If your student has chosen their intended major, one of the most important factors to compare is the unique program each prospective school offers in your student’s subject of interest. A student pursuing a niche area of study may be better suited to a school that offers a minor in a subfield that aligns with their interests, or classes that deepen their engagement with the topic. Furthermore, while most schools will offer standard majors such as History or Psychology, even these more common programs of study and their related course offerings can vary widely between schools. Referring to the course catalog and major/minor offerings published on the school’s website can be a helpful starting point for assessing the nuances of each school’s program. In addition, students should read the online faculty biographies and publication titles to get a better understanding of the scholars they will be learning from and the academic caliber of each department.

Students who have not yet chosen a field of study should take into account which schools offer the most interdisciplinary opportunities and exploratory coursework. Programs that provide more freedom to learn in a variety of disciplines will help students discover their unique academic interests. They should also seek to attend a school that offers lots of potential majors, so that when they choose a field of study they will be able to continue pursuing it at their chosen institution.

The location of the college your student chooses to attend will have a significant practical impact over the next four years. First, students should consider: “To what extent is distance from home important to me?” While it may initially seem exciting to forge their own path by attending a college thousands of miles away from home, they should think about the specific implications of being so far away. Do they envision attending their siblings’ recitals or championship baseball games? Will they miss their established childhood friendships? Do they want to have the freedom to drive home for the weekend? Some students may flourish with the independence afforded by a greater distance from home, but it is important to recognize that going to school far from home requires commitment and confidence.

Beyond distance from home, students should also compare campus settings. Would they prefer to be in the hustle and bustle of a city or would they be more comfortable on a suburban or rural campus? They should consider the implications of the setting for their hobbies, interests, and career goals—for instance, a student who dreams of becoming a museum curator will likely find more opportunities for internships and volunteer opportunities in a metropolitan center than they would in a small town. The weather can also have a considerable effect on a student’s mental health, so considering whether they would thrive in a warm, sunny climate over a cold, rainy one can be an important factor in the decision making process.

While the prestige of competing schools on a student’s list should not be the only element to consider, it should certainly be an important factor in their decision. Not only will the rigor of a highly regarded university prepare your student for their future endeavors—from graduate school to their foray into the professional realm—but the vast network of connections at elite colleges and universities can open doors for them for years to come. When comparing the scholarly reputations of colleges, students and families should not only compare schools’ overall rankings, but also the rankings of the specific programs that the student is interested in pursuing.

Finally, students will spend the majority of their college years outside of the classroom—so, students should take schools’ campus culture into careful consideration when deciding between schools. This can include evaluating the clubs and activities on campus, as these are great places for students to meet people outside of their program, the student body’s participation in off-campus events in the community, or the overall culture of the school. The best way to assess these aspects of a school is to visit and speak with current students, but if a student is unable to do so, they can contact the admissions office to request a virtual meeting with a current student or ask to be connected to alumni in their area. When choosing between schools with similar program offerings, academic rigor, and campus locations, the school culture is often the determining factor for students in identifying where they want to invest their next four years.