14 Tips For Completing The FAFSA

By http://www.trioprograms.org/

1) "Your" means student information, not parent information

2) Question #13 - must be U.S. citizen or eligible non-citizen to receive aid

3) Question #30 - enter "0" for new college freshman

4) Question #35 - do not leave blank

5) Income information - provide actual figures if available; otherwise, make estimates and correct later using the Student Aid Report

6) Worksheets A and B is untaxed income

7) Worksheet C is exclusions to income

8) Keep Worksheets A, B, and C as you may have to provide or duplicate them at a later date

9) Assets

a. Report net worth (current value minus debt)
b. Do not include primary residence
c. Do not include pensions, non-education IRA
d. Education / Roth IRA - report the value, but it may be excluded later ----by submitting exceptional circumstances appeal

10) Parent information is for custodial parent and his or her current spouse

11) Question #64 - number of people in the household

a. Include student
b. Include other students who are dependent for financial aid purposes
c. Include other dependents if parents provide more than 1/2 of their support

12) Question #65 - number in college

a. Include the student
b. Do not include parents

13) Step Six - list schools to receive FAFSA

a. Use school codes available on the FAFSA website (http://www.fafsa.ed.gov/fotw0203/fslookup.htm). California students must list a California university in the top three to apply for Cal Grant

14) Signatures - must be signed by student and a parent

a. E-signatures or paper signatures

College Inflation at its Peak

College Board’s annual “Trends in College Pricing” report stated that tuition and fees at public four-year colleges increased by 6.3 percent of the 2006-07 academic year.

College tuition has rose as much as 35 percent in five years which has put a road block for college students as government grants are not making up for the tuition spike.

Some good news is that there is a lot of aid for student that take the time and more community colleges are being keeping their low tuition prices for students who can not afford to go to a university.

As private colleges price for tuition and board averages around $30,367, it is being more popular for students to attend four-year colleges with the tuition price average of $12,796.
This problem is being blamed on the increase in people attending college but should only be blamed on the amount of financial aid, grants, and scholarships that are being given out to students. But I guess as long as this is happening than take advantage of it as soon as possible.

God Bless

Is college really worth all that money?

It was estimated that a bachelor’s degree was worth $23,000 a year when determining the gap with someone that only had a high school diploma to someone having a bachelor’s degree.

If you are determining whether or not to attend college or online college then take this fact into account. College graduates in 2004 made an average of $51,554 compared to adults with a high school diploma. Hopefully you have finished high school because high school dropouts earned an average of $19,169 compared to people with an advanced college degree that averaged $78,093.

I hope this is incentive enough for you to make the commitment and earn a college degree.

With the increase in college students every year it seems like college is more appealing for people to make that commitment.

College is worth the investment and time as the possibilities for earning a college degree is easier than ever with so many colleges and online colleges offered to everyone that wants to get a degree.

The money is well worth the investment.

God Bless

College Quick Tip

After taking several test this year I have finally found a way to avoid stressing myself out before the big college exam. This tip will keep you away from those horrible all nighters before the exam and will even help you raise your test scores.

College Quick Tip:

An hour after class look back at your notes or whatever the teacher went over for 5 to 10 minutes so you soak in the information better. This will improve your memory and keep your college exams being a strenuous time.

Don't stress over exams but plan ahead for success in the long run.

College Education Well Worth The Price

Is college worth the investment of time and money for your future?

This is a question that is asked every frequently by people looking into attending a college or online college whether what they want. It is always one of the hardest things to decide on whether to go to college or not.

In the long run college is beneficial for people to invest in as it decreases their chances of unemployment and increases the chances of a higher income.

Attending college or online college can become a difficult decision but well worth everything for a better and secure life in todays world.

College: An Investment in Yourself

It’s widely recognized that people with a college education get further in their professional life – more often achieving their career and monetary goals, than those without a college degree.

Education is an investment that pays for itself, giving you the opportunity to open doors that would otherwise remain closed. What’s more, chances are up to 30% greater that you will not face unemployment if you have a college degree.


Unlikethe past, it’s a lot harder to get very far these days armed with only a high school education.

• Figures indicate the difference in yearly income between someone with a Bachelor’s degree and someone with only a high school diploma can be almost $18,000. A Master’s degree can up the ante by more than $8,000, and a Doctorate can get you roughly two and a half times what a high school diploma will.

Unemployment and earnings for full-time workers aged 25 and over, by educational attainment, 2003

• A college graduate will earn about $1 million more over their working lives than high school graduates.
• By the age of 33, the typical college graduate who enrolled at age 18 has earned enough to compensate for both tuition and fees at the average public four-year institution and earnings they missed out on during the college years.
• College graduates in 2004 earned record-high starting salaries than ever before. Engineering, high-tech, business and accounting degrees are all in high demand by employers. The average starting salaries for those types of jobs are as high as $54,000 per year.3 Employers are increasingly concentrating their recruiting efforts on college campuses.

College is clearly the way to go!

Now that you can see the benefits of an education, here are some useful tools to assist you in the college application and financial aid process:

• Stay on course every step of the way through the college application and financial aid process with our College Planning Checklist.
• Our College Search can help you find the right college or university, or compare multiple schools using school rank, location and other criteria.
• Grades aren’t the only factor in the college admissions decision these days. Learn more about ways to increase your chances of getting into the school of your choice at What Colleges Look For.
• Find our more about the cost of higher education at What Colleges Cost.

By www.citibank.com

118 Ways to Save Money in College - Expert Advice

Saving money for college or online college is not as hard as you might think. Little tips like getting a free checking and savings account, pay credit card bills on time, etc. are just some simple ones that will help you manage your money.

Start out and make a list on each of these 118 tips. Choose 5 of these college saving tips and put them into action over the week. After accomplishing those 5 college saving tips move on to 5 new ones.

Some easy tips I believe are to stop drinking if you already do unless it is free. College students spend about $5.5 billion on alcohol each year so try your best to avoid it if needed.

Saving money on books is one of the smartest things to do as colleges and online colleges usually have high book cost even after you pay tuition. Look around campus to see if another other college student has the book and would want to sell their old book to you for cheap. It an easy way to save some money.

One last tips for today is go online for some college books instead of buying them from the college. Some great places to look are Amazon.com and Ebay.com as I have bought many of my college text books from other students online.

Have a great day and God Bless!

118 Ways to Save Money in College #13

By http://www.scholarships-ar-us.org/

Make a Few Bucks

No one says you have to hold down a traditional part-time job, but there are tons of ways to make an extra buck or two while you’re in college.

110) We're not endorsing prostitution, but if you can give some of yourself by donating blood plasma, you can net an extra couple hundred dollars a month. But, be careful if you try combining this with alchohol. ;)

111) Volunteer for a medical study. Most do not require much time and you get paid!

112) Sell your expertise in a subject as a tutor, computer skills, music lessons.

113) Get a job in the food service industry. Chances are high that you can eat for free!

114) If you are a true subject matter expert why not create a website about your favorite topics? Many people make a few hundred to few thousand dollars a month from Google AdSense, by publishing relevant contextual ads on their websites.

115) Be your campus computer tech. Troubleshoot computer issues in exchange for a few bucks or a beer. Make yourself available in a pinch.

116) Solicit grad students for help with their dissertation research, proofreading, editing or document typing and formatting.

117) Don't forget to work extra and save up during the summer to make the school year more comfortable.

118) Offer a resume writing service. This can make you quite a bit of extra pocket money. But put it in savings.

Good luck! If you think “thrifty” we think you could possibly leave college with a little in your savings account to show for your hard work and efforts.

118 Ways to Save Money in College #12

By http://www.scholarships-ar-us.org/

Exercise

If you are already involved with an athletic program, you will have plenty of opportunity to travel off campus and socialize with other students. Meals will typically be covered during team travel, too. If you are on an athletic scholarship you will already have plenty of time scheduled for practice and games or competition to worry about money.

102) Join a club or intramural sport. It will gain you instant friends and offer no-cost exercise and socialization.

103) Buy an exercise video game. A console and exercise game together cost under $200 and offer weeks or months of fun. Who knew you could lose weight playing video games? Playstation 2 offers a video game called Kinetic - The Personal Fitness Trainer. And as if that wasn't good enough, why not give Dance Dance Revolution Mario Mix a try!

104) If you need music to help you have the motivation to exercise, iPods and similar devices can be bought for around $100. Many music fans also take advantage of low download costs or free downloadable music offers.

105) Ask someone to sponsor you for a marathon or other run. People do it all the time for charities. Turn paying for your education into a noble cause.

106) Enroll in an on-campus exercise class such as yoga, tai chi, kick-boxing or spinning. Exercise will keep you healthier and happier and will fill up time you might otherwise have spent spending money.

107) Feeling down and getting the urge to splurge? Instead go for a run, a bike ride, or a brisk walk. You’ll get some exercise-induced serotonin coursing through your brain and the feeling will cost you nothing.

108) Get a dog. While feeding them may seem expensive, they offer low cost company ready for a walk if you get lonely or might not exercise as much as you should. Dogs love exercise.

118 Ways to Save Money in College #11

By http://www.scholarships-ar-us.org/

Personal

We’ve included toiletries, personal grooming and laundry in this category - the annoying, so-not-fun expenses that are perhaps some of the most spendy.

95) Ladies, how ‘bout forego the salon nails for the year. Instead make it a girl’s night in and do each other’s nails. Same thing for waxes and facials.

96) You don’t have to let your hair grow to your knees, but you don’t have to choose the toniest “hair design” spot in town either. Shop around for a salon that offers student discounts. Have a cosmetology school nearby? They will charge much less for cuts, highlights and color in exchange for the use of your head. Also, funkier little salon/barbershops offer great services, for a fraction of the cost; you just need to be a bit adventurous.

97) Share the cost for personal toiletries. This works well if you share a room, apartment or suite with others and can agree on products that suit both or all: soap, shampoo, blow dryer, curling iron, hair spray, conditioner, package of razors, shaving cream, lotions, toothpaste, mouth wash, etc. We don't recommend sharing your tooth brush though ;)

98) Whether you share or not, it’s always a cost-saver to avoid high-end grooming products. You don’t really need the most expensive shampoo or facial scrub to keep yourself looking good. High-end products can run you between $10 and $20 per product. Buy affordable and quality products at much lower prices.

99) Shop for your personal items at a discount retailer. Money strategists suggest buying the “store brand” as a cost-saving alternative, as well.

100) Doing laundry costs money. A machine load of laundry costs at least a $1, and in most places a good bit more than that. Don’t drop your laundry at a service, stay and wash it yourself. Spend the time studying or decide to use laundry time to catch up on your favorite magazine or book. Maximize your laundry savings in the following ways:

• Bring your own detergent versus buying the single use from the machines.
• Buy discounted detergent or on sale only.
• Bring your own drink and/or snack versus buying from the vending machine.
• Fill the machines to capacity.

101) If you are totally outraged with the cost to wash and dry at the nearest laundry joint or your residence laundry machines, then shop for cheaper at another nearby residential building. Most have laundry rooms. Keep your ear to the ground for the best cost per load deal in the area and only wash when it’s necessary.8 You can always hand wash a few items to get you through to wash day.

118 Ways to Save Money in College #10

By http://www.scholarships-ar-us.org/

The Cost of Keeping in Touch

Communicating with friends and family can run you into steep monthly costs if you are not willing to think outside the box.

88) Join your parents’ family cell phone plan. It is usually much cheaper than a standalone account.

89) Refer to cell phone comparison sites that offer side-by-side data of plans from company to company. Save time and save money on your next cell phone plan:

90) Avoid text messaging. You can easily text your way to hundreds of dollars in extra fees. Also, because text messaging is charged both to the sender as well as the receiver, ask your friends to refrain from texting you, too. Make a phone call when you are able (and during your free minutes) or send an email instead. Some cell phone plans come bundled with a maximum number of free text messages. Know how many you can send or receive without being charged extra.

91) Use a pay-as-you-go cell phone plan. This will only work if you use your cell phone on a minimal basis.

92) Communicate via email, instant messangers, create a blog, share photos on Flickr, or invite friends to visit your MySpace site.

93) Use an inexpensive or free internet phone calling service. Once upon a time the sound quality and incidence of dropped digital data packets was high, but VoIP calls have come a long way, baby. Some families, especially those spread far and wide, even international, subscribe to an online conference service. Here everyone in the group may participate in a group meeting, share photos, keep current with goings on, etc.

• Skype - eBay's VoIP service. Offers free incoming and outgoing calls in some areas.
• Vonage - VoIP service provider
• Google Talk - Google's voice enabled instant messaging service which allows you to leave voicemails
• Trillian & Gaim - instant messaging services that interface with most major IM services
• Facebook - Social networking site, very popular with the college generation
• Family and friend conference calls

94) If you are traveling, especially out of the country, catch up with friends and family before you leave, and check into the various international calling cards available.

118 Ways to Save Money in College #9

By http://www.scholarships-ar-us.org/

Transportation & Travel

Most of us have come to expect that we simply need to move around. Think foot power and you will already have taken steps to align yourself with a saving frame of mind.

79) Try to get an appartment which is close to campus.

80) Don’t take the car to campus. You will spend money on parking and gas, at the very least. Having no car will keep you closer to campus as well.

81) Walk, bike, roller blade, skateboard your way around town.

82) Public transportation is cheap, too.

At some point it’s likely you will have to decide the best and least expensive route from point A to point B. It may be national or international, but you always have a cheaper choice.


83) Save money by doing the least amount of traveling necessary. Road trips are great fun, but you will put out money for gas, accommodations, food, drink andentertainment. When it’s all said and done, your long weekend will smack your wallet.

84) Name your own price for a flight or accommodations, if you must travel, by using services such as Priceline. Factors such as current events and gas prices may cause travel prices to fluctuate.

85) Check prices for Amtrak or Greyhound versus air travel. Both companies offer student discounts.

86) A student travel discount card will get you nice discounts on accommodations, food, and transportation if you are traveling nationally or internationally:

• TA Travel
• International Student Identity Card, ISIC

87) Carpool home for the holidays. When everyone splits the cost of gas, it’s pretty darn cheap.

88) Nearly all money experts say “Skip Spring Break!” Some students even choose to engage in community service during spring break.

118 Ways to Save Money in College #8

By http://www.scholarships-ar-us.org/

Shopping


Things must be bought at some point, but where, when and how you go about it can make all the difference to your cash flow. Remember, extras, frills, bells and whistles are the little things that really add up.

67) If you have to shop, make sure you patronize places that offer student discounts.

68) Shop for stuff you really need during the tax-free week - available in many regions of the country.

69) Shop early or late for Christmas and the holidays. There is no more stressful time for someone close to broke than the holidays. In fact, some shopping mavens stress that there is no better time to pick up Christmas presents than the day after Christmas! Need a quick Christmas gift for a friend you have yet to see? Buy last minute on clearance sales. Also, buy for next year. Savvy shoppers have no problem making this option one of the most cost efficient shopping days of their year.

70) Create Christmas and holiday gifts with your own two hands. The discount craft stores sell everything you need to make candles, soap, even beaded jewelry. If you can get a couple of crafty friends together you can all very affordably chip in for the materials and learn together.

71) Ask for practical items for Christmas or your birthday. No, it’s not much fun, but getting things you need saves you from spending the cash.

72) Get a few friends together to pitch in for the price of an annual membership at a place like Sam’s Club or Costco.

73) Buy in bulk. You’ll save money per unit for a pack of twelve bars of soap versus singles.

74) Save time and transportation money by shopping online. Make sure you choose an e-tailer with free shipping.

75) Save money in decorating the dorm room by shopping at discount stores and maybe a yard sale or two. The Pottery Barn dorm room may be great, but it’s definitely not on the bargain table.

76) Don’t shop hungry, and that goes for any kind of shopping. If you’re in the grocery store, you’ll grab more and spend more; if you’re somewhere else you’ll probably spend more than you planned getting something to eat. Carry a snack in your purse or backpack.

77) Learn how to shop for clothes at the consignment shop. Today’s second-hand is nothing like your mother’s thrift store. In fact, these places are regularly trafficked by college students and others for the great finds in name brand, “gently used” clothes and accessories.

78) While we’re on the subject of saving on clothes shopping, remember to make sure your fine consignment garments are washable versus “dry clean only.”

118 Ways to Save Money in College #7

By http://www.scholarships-ar-us.org/

Off-Campus Apartment Living

Sometimes an off-campus apartment is a choice and in other instances it just is a necessity. Living in your own digs brings its own array of money matters. Here are a few tips to help you stay in budget living off-campus.

58) Get a studio appartment or split rent with roommates.

59) Rent a place that will have all appliances provided. Bringing in your own or having to buy is a hassle. Think you can live without the microwave? You will likely wish you had one.

60) Beg your parents - they will feel a connection to you by letting you use their stuff or by buying you new stuff. The more they buy the less you have to.

61) Don’t spend a lot on décor and accessories. There are plenty of resources for creative decorating that won’t put you in the poor house.

• Wal-Mart is, of course, dirt cheap. FedEx furniture is cheaper. ;)
• Futons and bean bag chairs are always popular affordable choices.

62) Pay utility bills before they are due. Avoid late fees.

63) Save money on bills by keeping the A/C or heat turned down or off if possible.

64) Turn off lights; use the oven sparingly and take shorter showers. Electricity costs money. If you find an apartment where utilities may run on natural gas (stove, hot water heater) it’s generally more cost-efficient.

65) Living on an upper floor will typically keep you warmer in the winter, but it’ll get hotter in the summer. If you go to school in a region where winters are longer then upper floors are smart, otherwise live low.

66) If winters are cold and heat bills are high you can insulate your windows with plastic.

118 Ways to Save Money in College #6

By http://www.scholarships-ar-us.org/

Entertainment- Music, Movies, Arts and Culture

You’d think you would have plenty to keep you busy what with studies and all. How to entertain oneself, on the cheap, is one of the major concerns for college students. Our best advice is to be creative.

41) Forget about the T.V. You can watch cable television through your computer. Make sure your desktop or laptop has a DVD/CD player and you can also watch your favorite movies. Your laptop has graphics equal to most HDTVs, so enjoy.

42) Nearly as essential as the T.V. is the stereo. Today’s computer speaker sets have clear high and midrange sounds with clean bass. You should be more than satisfied using your computer as the stereo. If you have your music library all set up in iTunes all you have left is to outfit yourself with a decent set of speakers and you still have saved money. Websites like Pandora create custom music channels based on a song or artist of your choice.

43) Trying to save money on going out to the movies? Hit the matinee showings. Look for free movies on campus; chances are you will find classics, independents, student films, noir and experimental.

44) Rent DVDs as a group. Pass the disk along before its due date. Everyone watches for a fraction of the cost to rent. Only share with responsible friends.

45) Subscribe to DVD rental service like NetFlix.

46) Have a stock of your own personal DVDs you don’t want anymore? Turn them in for credit at most of your brand name video stores.

47)Make your own movies. Talk about hours of entertainment. Stage your own music videos or film a short. Screen for friends, share a beer and laugh your a------s off.

48) Saving money on music opens a virtual Pandora’s box of methodology. If you decide to use a file sharing network program, make sure you do your research on the software program to make sure it doesn't contain any spyware or other inconvenient additions. You know, most of the mainstream pay-per-song sites cost just as much as if you went and bought a whole CD. You can still save money by just buying your favorite singles, and there are, however, many places that allow you (legally) to download music that is free- copyright-free, that is. Most of what you will get is the work of new and upcoming artists, but if you are the experimental type, you can find yourself a whole library of music. This is precisely how many future music stars are found:

• Amazon free music downloads
• CNET’s Download
• MySpace

49) Buy used CDs at the local music shop. Turn in your old CDs for credit and you may never have to exchange real money!

50) Start a book club. Read for entertainment, then get a group together to discuss it and enjoy each other’s company. Any interest would work for group involvement: stamp collecting, scrap-booking, weight training, running, cooking, and chess. My favorite book is A Thousand Years of Nonlinear History. It rocks.

51) Study groups help keep you focused on the primary reason you’re in college- to get an education. The more time you spend being focused and involved, the less time you have to spend money on frivolous things.

52) Offer your services as a tutor. Anytime you have the opportunity to help others is less time you have worrying about what you don’t have or think you need. The sooner you find out that you can survive nicely on very little, the better off you will be; or should we say, the richer you’ll be.

53) Avoid spending money this weekend. Be creative in what you choose to do, even if it includes a picnic, a long walk, flying a kite, a pick up game of soccer or football, an impromptu poker game (not played for money), or reading a good book.

54) Volunteer in a soup kitchen or help build homes with Habitat for Humanity. Community service activities like this will not only help you fill free time wisely, but you’ll come away with a real appreciation for those who have no money.

55) Pick up a local newspaper and check upcoming events for freebies: concerts, arts and crafts fairs, theater, festivals, art galleries, and museums.

56) Opt instead one Saturday evening a month to stay in and do something alone and for yourself. Enjoy a bath and a good book. Like Kung Fu movies? Drag out the microwave popcorn and go to town. Those DVDs can’t cost much to rent and maybe someone else will chip in on it with you.

57) Play on the web! The web is a virtually limitless land which will allow you to deeply explore any topic of interest, and participate in communities discussing those topics. You can also play games like Zuma or visit true time waster sites like HotorNot.com. Searching around online auctions like eBay may help you find deals while also being entertained by the prospects of bidding and winning.

118 Ways to Save Money in College #5

By http://www.scholarships-ar-us.org/

Computers - Hardware and Software

Not many college students can survive these days without their own computer, but do you need to put out the big money for a souped up version, or can you make it on the stripped down model? Begin by shopping wisely following these money-saving tips:

31) If you’re buying a computer, save by shopping the student specials; discounts, rebates and back to school specials. Some regions/states even have a tax-free shopping week. Apple Computer offers student discounts to students and teachers, and consistently advertises important education incentives and rebates. I recently bought an Apple laptop because it was bundled with a free Nano iPod and a free photo printer, copier, scanner. These freebies were rebate items so I had to take the time to fill out online applications and attach copies of receipts and bar codes from the packaging, but my total savings was close to $400 for some very worthy items. Other computer companies offering student discounts:

• Dell Computer offers student discounts directly through a participating college or university.
  
• Hewlett Packard’s Academic Purchase Program is available to eligible students and teachers. You have to sign up. Word has it that you can save around 15% on the purchase of an HP computer.

32) Should you go for the inexpensive desktop or the snazzy little notebook model? Okay, all college students want a sharp-dressed little laptop they can take with them to class or the coffee shop. But if you know you can do without the laptop, you will possibly save hundreds of dollars shopping the desktop models.

Bank the most savings if you opt for a model that gets the job done without a lot of extra (read “costly”) bells and whistles. If you MUST have a notebook, you may consider exploring the refurbished notebooks; a used laptop will cost significantly less than a model not driven off the lot yet, and in some cases you can get a darn attractive warranty and a good system to boot.

33) While you’re in college don’t take risks with your electronic equipment. Laptops and other trendy little electronics can be made off with quickly in a dorm environment. Unless you’ve bought some renter’s insurance, you will foot the bill to replace.5 Keep your room locked and valuables stowed.

34) Software is another high-dollar item. Using Linux software will keep you away from the higher-priced Windows alternatives. You can also buy discounted software through Apple’s Education Store. The company specializes in attracting college students and offers enticing student discounts and rewards. Microsoft discounts for students come in the shape of mass “licensing programs” through participating colleges and universities. Also shop online software clearinghouses for discounted products from all vendors. Many categorize by subject.

35) Freeware and shareware are a great way to get your hands on games, utilities, spyware removal, anti-virus and firewall programs:

• Tucows features thousands of products free or for just a few bucks-- “rated and reviewed.”
• Download.com offers free music, videos, games and utilities.

36) Decline extended warranties. Your computer should be under manufacturer’s warranty for the first year anyway. Companies dupe you into believing the plan is worthwhile. They become rich off your extra cash. Anything extra is likely just….extra.

37) Not only do we suggest you protect your physical property, but you’ll head off future repair bills if you protect your computer investment with anti-virus software and a firewall. Anti-virus and firewall protection will keep your computer in top working order and it will last much longer. When shopping for software avoid retail electronics departments. Instead seek out some good freeware and shareware products on the sites we mentioned in #35.

38) Your computer printer is a costly headache when the ink cartridges run dry. Aaaagh! Cartridges at an office supply store can cost you top dollar. Leave with a black cartridge and a color cartridge and you will likely have spent $40 or more.

• Try shopping for printer cartridges online, compare prices and find free shipping.
• You may be able to get your ink cartridge refilled economically from a local ink refilling store like CartridgeWorld.
• If you are daring and a do-it-yourself type, ink refill kits can cost as little as $5 per cartridge.

39) Hacker ethic? Lifehacker shows you how to convert a laptop into a DVR recording fiend.

40) Have you ever tried to throw away an old computer? You cannot just put computer components in the trash, and that includes monitors and printers. Old inoperable computers must be recycled. Recycling typically costs you money. Facilities that recycle, and most municipalities do, must charge for their disposal services. Also consider asking if hard drives are “de-gaussed.” This means they are magnetically erased en masse. Besides municipalities and recycling businesses, some computer manufacturers such as Dell and Apple provide customers with their own recycling programs.

118 Ways to Save Money in College #4

By http://www.scholarships-ar-us.org/

Food

Food is one of the top priorities in a college student’s life. Eating fast, eating healthy, it can all cost money if you don’t take time to consider the nitty-gritty of eating to save money.

17) Trying to eat on 12 cents? Two words: Ramen Noodles.

18) If you live on campus and pay for a partial or whole meal plan, then use it. Some programs don’t restrict you from taking food to go or eating as many meals as you wish. Peanut butter packets are your friend :)

19) Have a coffee fix? If you are one of millions of college students ducking into the corner coffeehouse every morning for your daily cuppa Joe, then you are wasting money.

Your daily latte, cappuccino, or mocha will run you between $2.50 and $3.50 depending on the size you need. Seven days of that routine costs you $17.50 per week, $70 per month and around $280.00 per semester! That’s over $500 a year you drank in morning caffeine. Make your own. By the time you graduate from a four-year degree, you’ve saved over $2000 in coffee beverages. That’s just one a day….Buy a decent coffee maker or even a small espresso/cappuccino machine for your dorm room or apartment. You’ll save hundreds of dollars.

20) Don’t tip just because someone poured you a cup of coffee. Keep your own change. Everyone wants a tip; “Poor college students work here…..” You’re poor, too. They have a job. Drop it in that change jar we mentioned under “Managing the Money You Have.”

21) Oatmeal is fast, filling, and affordable.

22) Skip the fast food forays and late night take-out. Make sure you keep healthy, affordable options in your room or apartment. Yogurt, cottage cheese, string cheese, bagels, peanut butter are all affordable, convenient and much more healthy than a late night burger and fries.

23) Collect coupons and follow the weekly sales at the grocery store. Avoid high-end markets like Whole Foods. These are nice, but most products cost much more. Once you’re out of school and have a good job you can shop the upscale markets.

24) Kick the bottled water habit; support your local tap water and drink for free. Get a some kind of filter if you want better tasting water.

25) Avoid a sit down restaurant with a large group. You’ll already be charged at least 15% gratuity, and if everyone decides to “split the bill,” you can really get screwed if you tried to eat cheap and didn’t splurge on alcohol. Know in advance what the tone of the party will be and what will be expected so you’re not surprised when the bill arrives.

26) Many people suggest sharing a larger meal at a restaurant, but make sure you’re eating someplace that doesn’t ding you with an extra charge for splitting.

27) Don’t have anything to eat, dining hall closed? Go to a take-out joint if you must, or some other low-cost eatery where self-serve is available and you are not obligated to tip.

28) If you’re on a date, prepare a simple, candlelit dinner and stay in; it’s not the food that counts, but the ambianc. Get your roommates to stay out for the night. Bonus ambiance tip: don't forget the Courvoisier.

29) Save your tip if the pizza guy gets lost, your order is messed up, or he is lacking in customer service and general niceness.3

30) Want free pizza? If you are studying computer sciences, hit Google up for free pizza.

118 Ways to Save Money in College #3

By http://www.scholarships-ar-us.org

Books

Every college student must buy books. You’ve probably heard horror stories of textbook “final bills.” Well, we have options that will save you money on your textbooks. Make sure to allow yourself time; don’t wait to run to the bookstore the day before your class begins.

13) Before you even think about putting out money for a textbook, don’t you think someone else on campus had to already have one? Borrow if it’s possible.

14) If you can’t borrow, buy used college textbooks. On sites like Amazon.com used hardcover books are often cheapest. Soft cover are more valued for convenience, so if you’re willing to haul a couple extra ounces, then hardcover is the cost-saving choice. ISBN.nu allows you to easily compare book prices from major online book stores. The campus bookstore will sell a supply of used books, but they are limited; so check the online sources as well.

15) If you are buying new, check for an “international” edition. The book will be almost exactly the same, except for maybe some Chinese characters on the front, AND it will be exponentially cheaper.

16) Have your own store of used textbooks?

• Sell your used textbooks online and make some cash for yourself, at the same time you will help some other starving students save their money.
• Or you can sell them back to the campus bookstore, but expect to take a big hit on the value if you sell them back to the book store. Some sneaky students wait in the campus bookstore with their old books in hand, trying to connect with new students that need their books, hoping to strike a better payout directly.

118 Ways to Save Money in College #2

By http://www.scholarships-ar-us.org/

Alcohol

It’s an expense many college students will not forego. Each year, college students spend about $5.5 billion on alcohol, mostly beer.2 So here’s how to save, and some creative alternatives for your favorite beverages.

8) Don't drink. But if you must...

9) Be cheap

• Buy the cheap stuff. Pabst Blue Ribbon and Old English 40 oz. bottles come to mind ;)
• Buy in bulk. A cheap 5th of Vodka might cost about the same as a drink or two at a bar.
• Drink where the specials are. Some college bars and dance clubs have pitcher specials, 1 dollar drink specials, no cover charge, or other specials for people going out early or going out on slower nights.
• Pre-game if you do drink heavily.
• Don't bring much money with you to limit how much you drink and spend.
• Hit other people’s parties.

10) For those beer lovers who really dislike the cheap beer, join a beer brewers club or get a group of dorm mates to brew beer. In the last few years the hobby has grown exponentially and college students everywhere are brewing. Warning: brewing may not be “legal” in your dorm room….que sera, sera.

11) Hate beer? Brew cheap wine.

12) At a sit-down restaurant avoid ordering the alcoholic beverages. Most restaurants make a killing on beer, wine and fancy cocktails. The alcohol mark up can be anywhere between 75 and 400 percent! An option is to shop for BYOB restaurants.

118 Ways to Save Money in College

By http://www.scholarships-ar-us.org/

So you have already looked for scholarships, grants, and loans and are still finding it hard to pay your way through college? It goes without saying that the typical college student is either broke or financially hanging in the balance most of the time. We’ve assembled a long list of both practical and creative ways you can save some green while you’re going to campus.

Managing the Money You Have

To save money you need to manage it. I hate to get on the topic of money management right off the bat, but if you expect to save money you need to be a bit savvy with the little bit of cash you have:

1) Get a free checking and savings account. The bank will nickel and dime you on dumb stuff like too many ATM withdrawals, too many checks written, or a funds transfer. Shop the town for banks catering to students. Make sure you can access online banking, pay bills and manage your account without attached fees.

2) Take the free checks that the bank offers in the maximum amount they allow - mine was initially going to give me 50, but for some reason I thought I needed more right away and paid $4.95 for another 50. If you need more, you simply go online and order more, but leftover checks are more typical than not, especially with online bill pay options becoming more commonplace. Extra checks become nothing more than wasted paper and wasted dollars.

3) Failure to keep track of your bank/checking account can easily cost you money via overdraft fees. Your debit card can easily get you into the red if you don’t know what’s in your checking account. Think your card will be declined if your account has insufficient funds? Think again.

If you go into the red in your checking account, your debit card will usually continue to work without even so much as a burp. Every time you make a debit card purchase while you have insufficient funds in your checking account you are also being slammed with a banking fee. (My banking faux pas cost me $250 in fees one weekend because I didn’t pay attention to the balance in my checking account and my debit card just kept on smokin’. On top of that, the bank charged me another separate fee to transfer funds from my savings account to my checking!) Unless you have an automatic overdraft protection that enables funds from your savings account to be transferred, you can be way more broke than you ever imagined in one, short weekend. Make sure you know what banking fees you’ll be spanked with if you make a mistake.

4) If you have to have a credit card, make sure you get one with the lowest interest rate possible; no annual fees and with only enough of a credit limit to get you by in an emergency. Don’t carry it with you, but instead keep it in a safe place known only to you.

5) Pay credit card bills on time. Companies charge late fees, sometimes as much as $50 per month. And do not go over your credit limit—that offers just one more way for your credit card company to get rich off your poor judgment.

6) Serious about saving money, huh? For one month save every receipt of everything you purchase, from a pack of gum, a tube of toothpaste to your computer. Log each expense in a notebook. When the month is up, tally up what you’ve spent and take a good look at just where most of it went. Food? Beer? Gas? Games? This sure fire technique will unabashedly expose the evils of your spending ways.

7) Save that spare change you’ve got jangling in your pocket or sloshing around in the bottom of your backpack or purse in a big jar or can somewhere out of the way.

• Count and roll spare change yourself.
• Stay away from those coin-counting machines you see at the grocery store. They will rip you off or at the very least charge you a fee.

Making Money in College

Let’s face it: college student = broke. From paying for food to paying for books, college students have several expenses that add up very quickly, and without extra income, it can be very hard to get by. Here are some suggestions for making extra money while still going to school.

• Get a job on campus. This would be the most convenient choice for you as a college student because you could go to class and then be at work within five minutes. Since most jobs on campus give students very flexible hours, you could even work an hour or two between classes. There is an abundance of jobs to choose from on college campuses. You could be a research assistant for one of your professors. You could swipe student IDs in the computer lab. You could work in dining services. You could work at the campus library.

You could even try to get a job within your major to get “real world” experience. For example, a journalism major could work on the school newspaper. Talk to professors and other students to see what jobs might be available on your campus.

• Get a work-study job if eligible. The Federal Work-Study Program offers jobs to eligible Federal financial aid recipients. If you apply for and are awarded with Federal financial aid, your award letters will identify whether or not you are eligible for work-study and the number of hours you will be allowed to work. If you are eligible, you can then go to your financial aid office and apply for available work-study jobs. These jobs can either be on campus or off campus and are usually at a non-profit organization or public agency. These organizations generally let students work very flexible hours.

• Get a job that includes tips. Jobs with wages plus tips pay the best. So, if you are looking to earn a lot of money while in college, consider being a waiter or waitress at a local restaurant. Just keep in mind that these job hours may not be as flexible as a job on campus or a work-study job.

• Advertise your services. If you like to type or edit papers or tutor other students, why not get paid for it? Put up posters around campus that show students what you are offering and how much you charge.

• Sell your plasma. You can help others while making money at the same time. The amount of money you make donating plasma varies depending on how much you weigh. If you weigh more, you can donate more and thus make more money. Most donation centers allow you to come in twice a week to donate. If you are interested, please contact your local plasma donation center to find out more information.

No matter what route you take to make more money, try to find one that doesn’t interfere too much with your schoolwork. If you are having trouble finding the time to go to class or do your homework, try cutting back on your hours at work.

Just keep in mind that eating cans of tuna and Ramen noodles is much better than failing a class.

SuperCamp for College Students

Teaching new skills plays a big part in the curriculum at SuperCamp. As an academic camp with about 30 programs around the globe each summer, and more than 20 years’ experience, we have perfected the skills we teach to our students.

Plus, we keep abreast on the latest brain research and educational techniques so we can update our teaching methodology to continue to present our innovative skills as effectively as possible.

Academic Skills Are Part of the Winning Formula

Quantum Strategies: Test-Taking and Organizational Skills, Study and Time-Management Strategies, and Learning Styles.

Quantum Reading: "Idea reading," increases comprehension.

Quantum Writing: Unleash creativity, overcome writer’s block.

Note-Taking/Mind Mapping: Learn innovative ways to take notes.

Memory: Learn entertaining ways to remember all kinds of things.

Life Skills Complete the Equation

8 Keys of Excellence: Integrity, Failure Leads to Success, Speak With Good Purpose, This Is It!, Commitment, Ownership, Flexibility and Balance.

Communication and Relationships: Learn specific communication and relationship models to convey your needs, opinions, frustrations and feelings in a positive manner.

Creative Thinking, Goal-Setting and Problem Solving: Discover the stages to solving problems, goal-setting strategies, and the differences between lateral and outcome thinking.

Breakthrough Outdoor Adventure Course: This ropes course helps you overcome self-imposed limitations and fears.

Integration: Celebrate your new accomplishments! On the last day, you'll learn how to apply your new knowledge in the real world. You'll practice your new skills, make commitments and set goals.

SuperCamp Success

No one denies that SuperCamp has been a success, but no one can agree on why. Some think it’s our unique learning environment and the experience a supportive atmosphere provides. Others claim that it’s the enthusiastic staff and the extensive training they undergo. The president of Learning Forum, the group responsible for designing SuperCamp, says that our success is due to shifting “how people feel about themselves.”

Our courses are unique, too. We offer students high-energy life skill activities that teach, entertain, and prepare students for the rest of their lives. Our hands-on academic skills training isn’t about specific scholastic material, but about learning to learn. They cover topics like reading, note-taking, writing, communication and relationships, creativity and problem-solving, test-taking, memory, and more.Each element of SuperCamp contributes to the overall success.

Just like the teaching technique we use—a comprehensive synthesis of many successful strategies—our camp experience is a collection of the best ingredients available: staff, skills, and teaching style. They blend together to create something greater than their parts—SuperCamp!

Online College Degree Programs NexTag

Finding the right college or program towards a career can be a struggle.

I came across the website NexTag comparison engine that has influence millions of people each month. Their network of leading schools offers a wide variety of online degree programs; in seconds they will find the ones that match your needs and interests!

Is one of the fastest growing companies online that will lead and give you the best information on colleges and online colleges you would be interested in.

Check it out! NexTag.com

Reasons for High College Tuition

How did we get here? Here are three reasons commonly given for college inflation -- along with two more that really explain what’s going on:Capital spending: Cornell economist Ronald G.

Ehrenberg, in his book “Tuition Rising,” describes a kind of “arms race” among the nation’s top schools to have the best of everything: the best facilities, the best faculty and strong sports teams to engender loyalty among alumni donors.But it’s not just the Ivy League schools that are spending like mad.

Colleges that want good rankings with U.S. News & World Report’s annual college rankings and other college-rating programs shell out big bucks on ubiquitous high-speed Internet access, bigger and better dining facilities, new gyms and concert halls, apartments instead of dorms for students.A lot of this spending is fueled by endowment funds, which in the go-go 1990s were swelled by a rising stock market and increased contributions from stock-rich donors. Critics make a good argument that at least some of the largesse should have been used to put a lid on prices.

But schools couldn’t have justified this spending if there weren’t other factors at work.

Faculty: Half to two-thirds of the typical college’s budget goes to paying instructional salaries. So rising paychecks are indeed a factor in higher college costs. But few college profs are getting rich.

The median salary for a full-time college educator is $46,300, according to the Bureau of Labor Statistics.

The picture is brighter for those who have tenure: Full professors make an average $76,200, according to the American Association of University Professors.The tenure system and the lack of mandatory retirement can make it tough to oust high-earning but less productive employees.

On the other hand, colleges are holding costs down by using a lot of non-tenured teachers: graduate students, instructors and lecturers. In fact, only 55% to 60% of the typical college’s staff is tenured or tenure-track.

So blaming higher college costs on the teachers alone really doesn’t wash.

Productivity: One factor that keeps inflation muted in the private sector is worker productivity. Technology, equipment and experience tend to help the average worker make widgets faster over time. That growing productivity allows a business to create more products for the same cost.But colleges aren’t in the business of making widgets. Those that try to force greater “productivity” out of their professors -- by increasing class sizes or class loads -- often find their strategies backfire. The best instructors leave for better environments, and the colleges’ reputations suffer among students and the ranking services that gauge university quality.

There’s actually pressure for colleges to be less productive, Ehrenberg points out: to shrink class sizes and reduce class loads so professors can spend more time doing research.The problem with this explanation for rising costs is that it’s always been true. For the past century, worker productivity in most other fields has soared, while it’s remained about the same at colleges and universities. That doesn’t really explain the most recent bout of inflation.

Financial aid: Now we’re talking about real stuff. As I noted, most people don’t pay the sticker price for college. Scholarships, grants and loans reduce the out-of-pocket cost for the majority of students. (Loans just put off the pain, of course, but few students really think about how much the borrowing is going to cost them in the long run.)

As we’ve seen with the health-care system, if people aren’t feeling the real cost of their purchases, they have less incentive to change their behavior. If you’re paying the full tab and Elite University jacks up its rates 10%, you might opt for Just Fine State. If enough others followed your lead, Elite might rethink its pricing.As it stands, however, Elite just needs to boost your financial aid package by 8% or so, and you’ll grumble but stay put.

The government has chipped in, as well. Tax incentives like the Hope Credit and the Lifetime Learning Credit, student loan interest deductions and tax-advantaged savings plans like Coverdells and 529 college savings plans have made it easier for many parents to pay for college.That’s not to say we should have less financial aid or get rid of tax incentives -- far from it. The system we’ve got ensures that nearly everyone has access to higher education. But until higher prices result in a decrease in demand, there's nothing to put a brake on tuition hikes.

Bigger pool of qualified applicants: This is the big kahuna and perhaps the strongest force affecting college prices: demographics.For two decades ending in 1997, the number of college-age people actually declined. The percentage of this shrinking group that actually attended college, however, shot up: from 47% of high school graduates in 1973 to 65% in 1996. That meant the number of people attending college in the 1990s remained pretty stable.

Now the under-25 set is again on the rise. The number of college-age people is expected to grow from 17.5 million in 1997 to 21.2 million by 2010. The percentage actually attending college is bound to increase further, as fewer and fewer decent jobs remain for those with just a high school education.Meanwhile, the most selective schools haven’t expanded that much, even as the number of qualified applicants keeps rising.

That’s why the SAT scores that would have gotten you into Harvard a decade ago might not get you accepted at your “safety” school today.Many other schools have shelved expansion plans -- either because they are state schools with shrinking legislative appropriations or because their endowment funds and giving programs took a hit along with the economy. An economic rebound could reverse that trend, but right now the good colleges have far more applicants than they’ve got room.With that kind of demand, college and universities can continue to boost prices almost at will.

How can you cope? Some suggestions:

Save early and often. “College plans for the rich, poor and in-between” has strategies you can use.

If you don’t expect to get financial aid, prepaid tuition plans might be worth investigating. To learn more about these plans, see “Pay tomorrow’s tuition at today’s prices.”

College Tuition Inflation is Never Ending

I some times wonder why the retail cost of a college degree has more than doubled in the past two decades as it has hit a climax where college students are struggling to pay for. Not only are college students being overwhelmed with high tuition costs but parents as well.

Many parents question if there is any hope that tuition will decline an time soon. I am sorry to say the way things are going that the answer is no!

Why should colleges decrease tuition cost when they are faced with few reasons to curb prices and lots of reasons to raise them. More and more people are going to college with an increase in scholarships, grants, and finacial aid. As long as free money is given out so freely, college tuition will keep increasing.

Some reasons why colleges are still increasing I will go over in my next discussion.

Choosing a College that's Right for You

by Randall S. Hansen, Ph.D.

Choosing where you want to go to college is an extremely personal -- and frequently stressful -- decision that teens and their families have to make. So, how can this article help you? This article's intent is to give you a framework that will help you choose the college that is right for you.

One piece of advice before we begin: It's best to start this process as early as possible, ideally in the junior year of high school (although some experts say to start even earlier). If you're a senior, go to our College-Bound High School Senior Planning Calendar.

Step 1: Determine what you might like to study or major in at college. Yes, many students enter college as “undecided,” and that's fine, but if you have some idea of a career or a major, that information can help in finding colleges that offer (and even specialize) in that field. You might like to try some of these career assessment tests to help you with this step. You could also read our article, Choosing a College Major: How to Chart Your Ideal Path.

Step 2: Develop a list of criteria you want to use to evaluate and weed out colleges. Do you want to live close to home, or far away? Do you want a large university or a small college? What about costs? Here's a list of common criteria:

• degrees offered
• majors/minors
• location (rural or urban setting)/distance from home
• size of the student population (from small at 1,000 to large at 35,000+)
• public vs. private
• costs (tuition, room and board, etc.)
• financial assistance packages
• campus resources (labs, libraries, computer access, etc.)
• graduation rate/time
• placement success/internship and co-op programs
• accreditation
• class size
• faculty contact/classes taught by full-time doctorally qualified faculty
• quality/reputation/ranking
• degree of pressure to excel
• safety (campus, community)
• student body (diversity, gender, etc.)
• social life (Greek organizations, sports, school spirit, etc.)
• religious affiliation/independent
• housing options (dorms, apartments, living at home)
• realistic entry expectations (based on typical student admitted)

Step 3: Compile a list of possible colleges and universities. With at least some idea of the criteria that are important to you, begin the gathering phase. You can find college information in books, such as The Fiske Guide to Colleges, which you can find among other college books in our Teen Books section.

Another resource are college-related Websites, such as TheAdmissionsOffice.com. Find that Website, as well as many others, in our College Planning Resources for Teens. You will surely also get suggestions from family, friends, and high school teachers and guidance counselors. You should also consider attending college fairs, where you can actually meet representatives from the schools, as well as gather important literature.

Step 4: Gather all your resources and information about each school you're considering. If you don't have all the information you need on a particular college, you should consider visiting the college's Website. And most colleges offer some sort of virtual campus tour, so you can get an early taste of the look and feel of a college from your PC.

Step 5: Use the criteria from Step 2 to narrow your list of colleges to a manageable number. This number will vary widely among teens and their families, depending in part on how many you and your family can realistically visit. Most experts suggest narrowing the list to 10 or fewer, but we have known some students who had close to 20 colleges after completing this step.

Step 6: Visit the colleges on your list from Step 5. The best way to really get a feel for a college is by visiting the campus, taking a tour, meeting with students, attending a class, reading the campus newspaper, eating in the cafeteria, and spending the night in a dorm (if possible). You have to feel “at home” at the place where you will spend the next four years of your life, so visiting is important.

For more information and strategies, read our article, How to Make the Most of Your Campus Visit. If some schools on your list are just too far away to make a trip, then at least take a virtual tour of the campus and try to talk to people who have attended the school to get a feel for it. CampusTours.com is a great place for links to virtual tours and college Webcams.

Step 7: Apply to the schools that made the cut after the first six steps. How many schools should you apply to? Of course, this decision partly depends on your financial situation (since most colleges have application fees), but most teens generally apply to one or two dream or “reach” schools (where they have a small chance of getting admitted based on a realistic appraisal of admissions criteria), two to four schools where they want to go (and can expect to be accepted), and at least one “safety” school (where they are a shoo-in for admission). But you need to choose the number and type that are right for you; some people don't apply to safety schools, and others apply to only the best schools that have made the cut from the first six steps.

Step 8: While you're waiting to hear back from the colleges you applied to, start hitting the books or the Web to find scholarships (if you need them). We list some of the best of both in our Teen Books section and in our Financial Aid Resources for Teens section.

Step 9: Make a final choice among the schools that accepted you. If you applied for financial aid, take a close look at the offers. If the school you really want to attend gave you a low aid offer, you should consider contacting the school and making a counter offer and see what happens; many schools have become more willing to negotiate in this area.

To help you with your decision-making, we've made this College Choice Table that you can print, copy, or otherwise use in helping you reach some decisions.

Some other good Websites that focus on choosing a college:

• How to Apply to College: Choosing a College -- from Educaid.com.
• Think College Early Massachusetts -- from the Massachusetts Board of Higher Education.
• Finding the Right College -- from collegeboard.com.
• Finding the Right College Program -- from CollegeView.com.
• Questions about some of the terminology used in this article? Get more information (definitions and links) on key college, career, and job-search terms by going to our Job-Seeker's Glossary of Job-Hunting Terms.

Dr. Randall Hansen is Founder of Quintessential Careers, as well as publisher of its electronic newsletter, QuintZine. He writes a biweekly career advice column under the name, The Career Doctor. He is also a tenured, professor of marketing in the School of Business Administration at Stetson University in DeLand, Florida. He can be reached at randall@quintcareers.com. Read more about Dr. Hansen.

College Financial Aid Basics #4

By SavingForCollege.com

Financial Aid Considerations

By now you're probably thinking that the financial-aid system is as complicated as the federal income tax, and that might be right. The summary presented here only scratches the surface.

Navigating these murky waters may seem difficult, but remember these four basic points:

1. No matter what the rules say, college financial aid officers have great latitude in determining the aid package your child ultimately receives. Officers sometimes use "professional judgment" to adjust the figures - increasing the amount of aid or creating a more attractive ratio between gift aid and self-help aid. They might be more apt to do so if they see other reasons to want your child, such as special abilities or unique characteristics.
2. The rules are constantly changing. The way the financial aid system works today may not be the way it works when your child is ready for college.
3. Your investment decisions now do not necessarily lock you in for purposes of future financial aid eligibility. You will likely have many additional opportunities to enhance your child's prospects for aid.
4. Saving for college reduces your reliance on an uncertain financial aid system. Some families make the mistake of spending because they believe that saving puts them in a worse position to receive financial aid. Planning and saving for college helps you control your family's destiny no matter what the future brings.

College Financial Aid Basics #3

By SavingForCollege.com

Financial Aid and Your Savings

In order to determine the investment mix that offers the most favorable impact on your child's federal financial aid eligibility, let's first look at how the formula for computing EFC works. The formula counts the following financial resources as being available to pay college expenses:

• 35% of a student's assets (money, investments, business interests, and real estate)
• 50% of a student's income (after certain allowances)
• 2.6%- 5.6% of a parent's assets (money, investments, business interests, and real estate, based on a sliding income scale and after certain allowances)
• 22%-47% of a parent's income (based on a sliding income scale and after certain allowances)

Now let's see how specific types of assets affect the aid formula:

The best type of asset to own when applying for financial aid is probably a retirement account such as an IRA or 401(k). These qualified retirement accounts, whether owned by you or by your child, are not counted at all in determining EFC for purposes of federal financial aid. Be careful, however, about taking money out of your IRA (or any retirement account) to pay for college. Though the tax law now permits penalty-free withdrawals from a traditional or Roth IRA to pay for qualified college costs, doing so could jeopardize financial aid in the following year. The entire withdrawal, principal and earnings, counts as income on the following year's aid application.

The equity in your primary home, insurance policies, and annuities are also excluded from your assets when determining EFC.

Assets that belong to the student result in a greater reduction in financial aid. UGMA/UTMA accounts are counted as the student's asset. In addition, they may increase the student's included income to the extent that interest, dividends, or capital gains are reported on the student's income tax return.

Often the income tax benefit of setting aside investment assets in a child's name is more or less offset by the reduction in the child's financial aid package.

529 plans and Coverdell ESAs may be two of the better options to save for college without jeopardizing financial aid. These are treated as assets of the account owner, not the beneficiary.
If a parent owns the 529 account or ESA, up to 5.6% of the value is included in EFC. If grandparents own the account, none of the value is included. A 529 account or ESA owned by the student, or by a trust or custodian for the student, will not be counted as the student's asset.
Withdrawals from parent- and student-owned 529 plans and ESAs are also treated advantageously. Such withdrawals when used for college are excluded from your federal income tax return, and according to the U.S. Department of Education are not required to be "added back" when reporting your family income on the student's federal financial aid application. Withdrawals from a grandparent-owned 529 account, however, may have to be reported as student income, reducing financial aid eligibility by as much as 50% of the amount of the withdrawal.

Section 529 prepaid tuition plans used to be a different story. Benefits from a prepaid tuition plan were considered a "resource," reducing aid eligibility on a dollar-for-dollar basis. However, legislation enacted in early 2006 has changed the treatment of prepaid tuition plans to make it consistent with 529 savings plans. Families with prepaid tuition plans will no longer face negative consequences.

Note that some colleges will calculate financial need using a different formula when offering their own grants and tuition discounts. The "institutional methodology" used by many of these colleges may count home equity, siblings assets, and certain investment accounts in a manner that differs from the federal methodology.

College Financial Aid Basics #2

By SavingForCollege.com

College Financial Aid Eligibility

Three basic ingredients determine how much need-based aid your child is eligible for.

1. The cost of the school your child is considering or already attending. Every school calculates its "cost of attendance" or "COA" based on federal guidelines. As you might expect, many private colleges have a high COA while public universities and colleges have a relatively low COA for state residents.
2. The dollar amount of "resources" provided to the student from outside sources. Scholarships, for example, are considered a resource. So are payments of tuition directly to the college by a grandparent or employer. A resource will reduce the COA, and therefore the need-based aid award, on a dollar-for-dollar basis.
3. The "expected family contribution" or "EFC." This is the amount your family will be expected to pay for college based on your particular financial circumstances. This figure is determined each school year by the federal government with data you provide on the Free Application for Federal Student Aid (FAFSA). The calculation considers the student's income and assets and the parent's income and assets. (For independent students, parental income and assets are excluded.) The parents' contribution is divided by the number of family members attending college at least half-time.

Assume, for example, that your child is planning to attend a private college costing $25,000 per year. Your expected family contribution is $15,000, consisting of the student's contribution of $2,000 and your contribution of $13,000.

A local civic organization has awarded your child a $1,000 scholarship. Your child's financial need is determined to be $9,000 computed as follows:

1. Cost of attendance
$25,000

2. Expected family contribution

Student's contribution
$ 2,000

Parents' contribution
$13,000

Total family contribution
$15,000

3. Resources
$ 1,000

4. Financial need = (1) - (2) - (3)
$ 9,000

The school will attempt to put together an aid package that covers the $9,000 in need. This package can be a combination of grants, loans, and work-study from federal, state, and college sources.

College Financial Aid Basics

By SavingForCollege.com

Intro to College Financial Aid

Sixty-three percent of all college undergraduates received some type of financial aid during the 2003-2004 school year, so it makes sense to explore this avenue for your own child. Most financial aid is provided by the federal and state governments. Colleges, scholarship organizations, and employers are also important aid sources.

Financial aid can include "self-help" -interest-subsidized loans and work-study-and "gift aid" consisting of grants and scholarships. Gift aid is more attractive, of course, because it doesn't have to be paid back and doesn't place additional demands on the child.

The amount and type of financial aid offered is based on two factors: the student's merit (scholastic, athletic, musical, etc.) and the student's financial need. Here, we focus on financial need since that is the factor most impacted by your investment decisions.

College Savings 101 Final

By SavingForCollege.com

Putting your plan together

You probably already realize that there are too many pieces in the college savings puzzle for us to offer a plan that fits every family. Your particular circumstances determine what’s best for you. However, we can offer some general advice that may help you.

Establish a savings budget. One of the first steps you should take in planning for your child’s future college expenses is to establish a savings goal. There are many very useful college cost calculators on the Internet and we encourage you to utilize them. But you can also get a rough idea of how much you should be saving every month just by referring to the chart below.

It shows the monthly savings goal from now through college graduation for a family with one child expected to enroll in the average four-year public university, the average four-year private college, or the average Ivy League college/university.

You can easily adjust these targets based on (1) the current four-year cost of the college or university your child expects to enroll in, and (2) the amount of savings you already have set aside for college. Simply compute the difference between those two figures (your “savings gap”) and estimate a result using the table.

Monthly Savings Goal*

Child's Age
1) Average Public (4 Yrs. = $50,000)
2) Average Private (4 Yrs. = $124,000)
3) Average Ivy (4 Yrs. = $166,000)

Newborn
1) $312
2) $ 773
3) $1,036

Four
1) $352
2) $ 871
3) $1,167

Eight
1) $417
2) $1,034
3) $1,385

Twelve
1) $544
2) $1,347
3) $1,804

Sixteen
1) $874
2) $2,167
3) $2,902

* Assumes 6% annual college cost increase and 6% annual investment return. Current costs include approximate average tuition, fees, room, board, and books.

Minimize taxes. Take advantage of the fact that your child can receive up to $850 in investment income each year without paying federal income tax (and at low tax rates above that amount as long as the “Kiddie Tax” doesn’t apply). By gifting income-generating assets into a UTMA account now, or gifting appreciated assets later, you can effectively shift income and capital gains out of your higher tax bracket.

The opportunities for tax savings may be even better if you can employ your child in the family business. Remember that any assets gifted to your children are theirs to control when they reach a certain age under state law, and that a student’s assets and income are counted more heavily under financial aid formulas. Be sure to speak with your tax advisor before making any tax-related decisions.

Consider 529 savings programs and education savings accounts even for older children. Just because your child is already in high school doesn’t mean you can’t benefit from tax-advantaged college plans. If your most recent Form 1040 shows income tax on interest, dividends, or capital gains distributions, you have the chance to save taxes with a 529 plan or ESA even if only for a few years. If your state offers a tax deduction for contributions to its 529 plan, you might even benefit by opening an account and immediately begin taking distributions to pay college bills.

Invest tax-free whenever possible. If your child will be attending a private or religious elementary or secondary school, consider opening an ESA and contributing up to $2,000 per year. There may be no better way to invest tax-free. If your child still has money in the ESA after high school it can then be used tax-free for college.

Create the right asset mix between your taxable and tax-free investments. If you maintain a fully taxable investment portfolio and a 529 plan or ESA, consider concentrating the growth portion of your investments in the taxable accounts and the income-producing portion in your 529 account or ESA.

Growth stocks and low-turnover equity mutual funds are already tax-efficient and can take advantage of low capital gains rates, while income-producing investments are less tax-efficient and can benefit from the tax shelter of a 529 plan or ESA. Capital losses in a taxable investment can also provide a tax benefit, while a 529 plan or ESA cannot produce a capital loss (only a miscellaneous itemized deduction if fully liquidated).

Put the right person in control. Grandparents using a 529 plan to save for a grandchild’s college education should open the account in their names if they want to maintain control and retain the ability to change the beneficiary to another grandchild. However, if the grandparents prefer that the parent control the account, they can simply make a contribution into the parents’ 529 account (assuming that particular 529 plan accepts contributions from a non-owner).

Another easy way to “gift” a 529 plan contribution into an account for a grandchild is to make the check out in the name of the 529 plan and hand the check to the parent who can make sure it is contributed on behalf of your grandchild. For gift tax purposes, the grandparent is still the one making the contribution and can make the five-year averaging election discussed in Savingforcollege.com’s Family Guide to College Savings.

Consider professional assistance. We suggest you consult with experienced and knowledgeable financial, tax, and/or legal advisors about all the matters discussed on these pages. The issues are complex. Be aware that for some financial advisors, 529 plans and ESAs are a new phenomenon. If you are working with one, ask which particular 529 plans are available through the advisor and what makes one 529 plan better than another. In interviewing prospective advisors you might even ask whether they have opened their own 529 accounts. It helps to know that the professional you are relying on has personal experience with 529 plans.

Be flexible with your college planning. Programs and investments will continue to evolve. Tax laws will change and so will your own circumstances. Review your financial situation periodically and make adjustments whenever it seems appropriate.

College Savings 101 #6

By SavingForCollege.com

Special considerations for grandparents

Surveys show that many grandparents want to help fund the college education of their grandchildren, particularly if they already have enough money to ensure a comfortable retirement income. Grandparents in this position should investigate college savings options just as parents do, but often with different objectives in mind.

Typical Grandparent Goals

Concern about the estate planning implications of college savings choices. Many grandparents see a dual benefit in advancing their grandchildren’s education and reducing estate tax exposure.

Control and accessibility. You may want to retain control of your funds and keep them easily accessible to you in case of unexpected expenses.

Ease of management. You probably want an investment vehicle that doesn’t complicate your overall financial management.

Flexibility. You may have several future college students to think about. They may be spread around the country and their financial situations may vary greatly depending on the financial security of their parents and their other grandparents.

Your Place in the Overall Education Savings Plan

If you decide to assist your grandchildren, it’s important to involve their parents in the decision-making process. Your desire to pay college bills directly or to set up educational trusts impacts the financial aid application filed for the student.

And if you gift money or other property to your grandchildren under the Uniform Gifts to Minors Act (“UGMA”) or Uniform Transfers to Minors Act (“UTMA”), any future earnings or capital gains will be reported to the child and may require the parents to prepare tax filings.

Be sure to consider the benefits of a 529 plan. Many grandparents find it to be a particularly attractive investment program.

College Savings 101 #5

By SavingForCollege.com

Tough choices: retirement versus college

Paying for college is not your only financial concern. Providing for your own retirement can be even more important since no one offers grants, scholarships, or federally guaranteed loans to support you when you leave the workforce.

Ideally, college and retirement should be part of the same financial plan, but you should still expect some trade-offs as you try to balance these goals. You may have to work longer than you would like or your children may have to borrow more money than they would like. The important thing is that it is possible to meet these two major financial responsibilities.

Keep these key facts in mind when thinking about retirement and college savings:

• Most advisors agree that you should take full advantage of special retirement accounts such as 401(k), IRA, and 403(b) tax-sheltered annuities before funding your college savings accounts. These retirement plans offer special tax advantages, and, in some cases, matching contributions from your employer.
• Assets in retirement accounts will not affect your child’s prospects for federal financial aid (unless you actually take distributions from them during the college years). Neither will life insurance or annuities. If your child is earning a small amount from working, a Roth IRA can be a great way to invest unspent income.
• IRAs can even be a secondary source of college funding. Tax law permits you to tap your traditional or Roth IRA for qualified college costs without incurring the 10 percent penalty for distributions before age 59 1/2. Income tax may apply, however.
• Except in unusual circumstances, your 401(k) is less accessible for college. You might be able to borrow from your 401(k), but any money borrowed will have to be paid back in short order.

Just remember that using any of your retirement money to pay for education costs means it won’t be there for your own retirement expenses. You probably don’t want to support your children through college only to risk becoming a burden to them in your later years.

College Savings 101 #4

By SavingForCollege.com

Federal tax incentives targeted to education

One of the best ways to increase the affordability of your child’s education is to take advantage of federal tax breaks aimed at families saving and paying for college. These include the following:
Qualified Tuition Programs (529 plans)—Earnings grow tax-deferred and distributions are tax-free when used for qualified post-secondary education costs before 2011.

Coverdell Education Savings Accounts— Earnings grow tax-deferred and distributions are tax-free when used for qualified post-secondary education costs. May also be withdrawn tax-free for primary and secondary school expenses before 2011.

U.S. Savings Bonds—EE and I bonds purchased after 1989 by someone at least 24 years old may be redeemed tax-free when the bond owner or the bond owner's spouse or dependent pays for college tuition and fees. In 2006, the tax exclusion is phased out for incomes between $63,100 and $78,100 (between $94,700 and $124,700 for married taxpayers filing jointly). These income limits increase each year.

Individual Retirement Accounts—Early withdrawal penalties are waived when Roth IRAs and traditional IRAs are used to pay the qualified post-secondary education costs of yourself, your spouse, your children, or your grandchildren. (Taxes may still be due on the withdrawals, however.)

Hope Scholarship Credit—A parent may claim a tax credit for 100% of the first $1,100 and 50% of the next $1,100, of a dependent child’s college tuition and mandatory fees, for a maximum $1,650 annual tax credit per child. Students may claim the credit only if they are not claimed as a dependent on another person’s tax return. In 2006, the credit is phased out for incomes between $45,000 and $55,000 (between $90,000 and $110,000 for married taxpayers filing jointly). The credit is allowed only for students who are attending a degree program at least half-time and who have not completed their first two years of academic study before the beginning of the taxable year. It cannot be claimed in more than two tax years for any one student.

Lifetime Learning Credit—A taxpayer may claim a tax credit for 20% of up to $10,000 in combined tuition and mandatory fees for himself, his spouse, and his dependent children. This equates to a $2,000 tax credit. In 2006, the credit is phased out for incomes between $45,000 and $55,000 (between $90,000 and $110,000 for married taxpayers filing jointly). Claiming the Hope Scholarship credit described above means that you may not claim a Lifetime Learning credit for any of that student’s expenses in the same tax year. There is no requirement that the student be studying towards a degree or be enrolled at least half-time, and there is no limit on the number of years the credit may be taken.

Tuition and Fees—An above-the-line deduction (this means you do not have to itemize your deductions) for up to $4,000 of the college tuition and related expenses of yourself, your spouse, or your dependent was available in 2004 and 2005 if your income was $65,000 or less ($130,000 or less if you were married filing jointly). For taxpayers with incomes between $65,000 and $80,000 (between $130,001 and $160,000 for married taxpayers filing jointly), the deduction limit was $2,000. The deduction was not available if anyone claims a Hope or Lifetime Learning credit for that student's expenses in the same tax year. This deduction has expired and was no longer available at the start of 2006 but may be revived by Congress during 2006

Deduction for Student-loan Interest—Up to $2,500 in student loan interest may be deducted above-the-line as long as the debt was incurred to pay the college costs for yourself, your spouse, or your dependent, while enrolled as a student at least half-time in a degree program. For 2005, the full deduction is allowed for singles with income below $50,000 and a partial deduction is allowed for singles with income up to $65,000. Married couples filing jointly get the full deduction with income up to $105,000 and a partial deduction with income up to $135,000. A student claimed as a dependent may not take the deduction on his or her own return.

Tax-free Scholarships—Most scholarships and grants are tax-free if the recipient does not have to provide services in exchange for the award.

Tax-free Educational Assistance—Employers may pay and deduct up to $5,250 in college and graduate school costs for each employee under a Section 127 educational assistance plan. The education does not have to be job-related. The benefit is tax-free to the employee, but cannot be used to pay for an employee’s children or other family members.

College Savings 101 #3

By SavingForCollege.com

The real cost of higher education

The Real Cost of Higher Education

An excellent education for your child does not necessarily require that you spend $30,000 in today’s dollars for one year of tuition at an Ivy League school. There are many well-regarded, reasonably-priced private colleges. The average public college or university tuition is lower yet, especially for residents of the state where the school is located.

Projected 4-Year Tuition and Fees

1) Today(Enrolling 2006)
2) In 18 Years(Enrolling 2024)

Private College
$98,500
$281,100

Public/University (in-state resident)
$25,500
$72,700

2 Years Community College & 2 Years Private College
$56,900
$162,400

(Based on average tuition and fees for 2005/2006 as reported by The College Board® and assumed to increase 6% annually.)

The figures above do not include other costs your child will incur as a college student, such as room and board, books, supplies, equipment, and transportation. These additional expenses can increase your child’s cost of attending college by a substantial amount.

According to The College Board®, the average 2005/2006 tuition increase was 5.9 percent at private colleges, and 7.1 percent at public universities. The ten-year historical rate of increase is approximately 6 percent. These figures are much higher than the general inflation rate. They are also higher than the average increase in personal incomes.

College Savings 101 #2

By SavingForCollege.com

Your goal: affording the college of choice

Most people look at the price of a college degree as an expense, like the electric or cable bill. But what if you looked at it as an investment? According to the U.S. Census Bureau, in the year 2002, the average male college graduate, aged 25-34, earned 65% more than the average male who completed only high school or had a General Education Development (GED) certificate. Among women the same age, college graduates earned 71% more than non-graduates.
Over a lifetime, the additional earnings resulting from this “investment” in education could easily exceed $1 million.

Still, the question remains: How will you finance that investment?

Pay as You Go
Your child could help pay for college by getting a job, but students must already juggle studies and other college activities. Even a part-time job might detract from their primary focus – getting an education.

You can also plan to pay college expenses out of your future income as long as you realize that doing so might require substantial cutbacks in other areas of your family budget.

Pay Later
Some might suggest that you approach college tuition as you would buying a home – borrow the money to pay for college and simply repay the debt with higher earnings after graduation. Though many parents see advantages in having children contribute to their education expenses, a college education can be as costly as buying a home. How many parents want their children to start out with such substantial debt?

Find Someone to Help Pay
Scholarships and grants are the ideal financial aid. They don’t have to be paid back. But only 40% of all financial aid comes from scholarships and grants, while nearly 60% is loans.

Save Now for More Freedom and More Choice Later
Saving now is the best way to ensure that you have options later. After all, you would like your child to select a college that offers the best education and not necessarily the best financial aid.

You probably also want the comfort of knowing that you won’t be dependent on outside sources like loans or scholarships to meet college expenses.

Many strategies and investment vehicles are available to help you maximize your college savings. Selecting a suitable strategy and the best combination of investment vehicles is critical. For each option, you face the task of evaluating key characteristics including:

• The potential for growth
• Risk of loss
• Tax implications
• Ownership and control
• Ease of management
• Fees and expenses

The decisions you make now can have a significant impact on how much money is available for tuition payments in the future. In this tutorial, we focus on the most common components of a sound college savings plan – a plan that can give you and your future college student a high degree of financial security and the confidence that you can afford the college of choice.