Online College Education Truth

Principles of Saving for Retirement

2007-04-20T15:19:00.000-07:00

Occasionally, some deep thinkers come along with advice so excellent and points of reference so basic that I feel compelled to pass them on.

Naturally, I wouldn't pass them on if I didn't also agree with them. I think they form a solid basis for your progress on getting that house next to the 16th green for your retirement (if that's what you want).

Miles to Go

The first set of principles come from my old pal and colleague, financial planning whiz Raymond J. Lucia (or Ray Lucia, as I call him). He's written a fine new book called "Ready...Set...Retire!: Financial Strategies for the Rest of Your Life" in which he lays out the six most fundamental considerations for retiring.

Before he even gets to those, though, he insists that you consider how long you're likely to live. Of course, none of us knows the date we'll die, but you can assume that if you make it to 65, you have a darned good shot of making it to 83. And if you're a couple who makes it to 65, there's close to a 40 percent chance you'll make it to 90.

The web site for Northwestern Mutual, a large life insurance company, can help you estimate your longevity. But the main point to bear in mind is that you're probably going to live about 20 years after you retire. That's a long, long time if you don't have enough money saved up.

The Six Principles

With that in mind, Ray presents the bedrock principles that will influence how you live financially after you retire. Specifically, they are:

1. How much you save.

Simply put, if you're a typical American (who happens to save close to zero right now), you have to save more. When you're young, 10 percent of your income will get you there. If you don't start saving until middle age, aim closer to 15 or 20 percent. If you don't start until later than middle age, save every penny you can even if your only in college.

2. How long you give your savings to compound.

The great Milton Friedman famously said that the greatest invention of man was compound interest. Maybe he was joking, maybe not.

In any event, compound interest is a great gift to young people. If you start early, tiny amounts grow to immense amounts, and pretty soon you're all set for retirement. My pal, the genius investment advisor Phil DeMuth, says that if you're old enough to start thinking about sex, you're old enough to start saving for retirement.

A thousand dollars socked away when you're 20 and growing at 10 percent per year will be almost $73,000 when you're 65. The same sum saved when you're 50 will grow to $4,200 at age 65. That's a stunning truth that should compel any young person to start saving early -- and the rest of us to start right now.

As for timing your retirement, Ray advises that if you can push it back by even five years you'll allow your money to grow and have fewer years to need it.

3. How you allocate your assets.

Typically, for those who start early, stocks are the answer. Over long periods, a diversified basket of common stocks wildly outperforms bonds, cash, and real estate. The differences are breathtaking.

But, as we've seen lately, there's also a lot of volatility in stocks. As you age, you'll want more of your money in bonds and money market accounts. These have lower returns than stocks, but they also have far lower volatility.

common stock index such as the Vanguard Total Stock Market Index (VTSMX and half in the Vanguard Total Bond Market Index (VBMFX).

To me, that's a bit conservative if you're young like in college. I would have more in stocks and also a good chunk in international markets. (Phil has written a fine book about supercharging your portfolio that will be out in a few months. It's far beyond his basic portfolio in sophistication and returns, so watch for it.)

Ray has a portfolio that he uses in his "Buckets of Money" strategy that uses stocks, bonds, variable annuities bought with a sharp eye on fees, and real estate, and his returns have been excellent.

4. How much your investment returns annually.

Now, this is largely unknown from year to year. But over long periods, stocks return close to 6.5 percent after inflation, and about 10 percent before inflation.

The supernova-genius of investing, the investor's absolutely best pal ever, John Bogle, who founded index investing through Vanguard Funds, says -- and his evidence is powerful indeed -- that you'll do best as a stock investor with index funds that cover the largest possible universe of stocks in the free world. These tend to be very low-cost in terms of fees and loads (sales charges), and beat almost all actively managed funds in terms of return over long periods.

I heartily concur. I would add that it's also helpful to juice up your portfolio with real estate, and to lean toward high-dividend and real estate funds.

5. How low you keep your fees and costs.

This principle is largely about using index funds and no-load mutual funds, which makes perfect sense.

6. How closely you keep an eye on taxes.

Finally, Ray advises maxing out your tax-protected accounts like IRAs and 401(k)s; keeping high-dividend stocks in accounts that are tax-deferred; and, when retiring, carefully considering what bracket you'll be in and drawing out your funds to remain in the lowest possible one.

Remember the Basics

These are basic principles to be sure, but they're vital. The three most important to remember are: 1) Start saving for retirement when you're young like in college; 2) Save as much as you can; and 3) Maximize your returns by using index funds with low costs and high diversification. (Diversification and time are probably the investor's best friends.)

It may sound simple, but it isn't easy. If you're diligent, though, you'll be well on your way to that house on the fairway.

Have a great day and God bless!

Insider's Look at Online Learning

2007-04-14T10:30:00.000-07:00

Susan Aaron, The Learning Coach

Ever wonder what e-learning is really like? Do you have what it takes to be a successful online learner? Cheryl Shutt and Geoff Maffett, who have both taken master's-level classes at the University of Illinois Online, and Ben Smith, a business student at the University of Phoenix, share their experience and offer their advice for learning virtually.

The Realities of Virtual Learning

It's Hard Work. There's a false perception that online classes are easier than traditional ones. Smith, Shutt and Maffett all noted the heavy workload involved and the amount of reading required. In addition to homework, the class must be read. One shouldn't expect to get by with sitting quietly or to be drawn out, either. All three students mentioned the need for self-starting behavior.

It's Fast-Paced. The speed of online courses surprised all three.

Smith: "My first impression was, 'Wow, this course really moves.' I remember writing two and three papers a week in certain classes."

Maffett: "[Online learning gives you the] ability to work faster than the pace that is set in most classrooms, [which] seems to be designed for the slowest participant!"

It's a People-Oriented Atmosphere. Rich interactions with your college classmates are an element of the online classroom that overturns the common perception that this type of learning is an isolated endeavor.

Shutt: "Communicating by email with classmates and instructors was wonderful and let us receive individual attention."

It Really Is Convenient. All three mentioned the convenience and flexibility of online education as a key reason to try this approach.

Shutt: "Online classes allow you to take classes regardless of the hours you work or where you live."

Maffett: "I was able to complete my master's degree without having to attend classes. This was vitally important since I was transferred from Illinois to North Carolina in the middle of my graduate studies…I was also able to do my coursework while I was traveling for business."

It Can Be Technologically Challenging. Most difficulties with online learning were related to technology. Shutt mentioned that it takes some time to learn how to get around in an online classroom, suggesting students devote time before a course starts to getting acquainted with the environment. She also had problems with the real time chat due to slow typing skills.

They also mentioned that extra communication might be necessary when working online to overcome the lack of visual cues present in a conventional classroom.

Maffett: "When online teams worked on a common project, it was difficult to fairly distribute the workload and manage the revisions…We had to develop some clear rules for who worked on what when."

Strategies and Advice for New Online Students

If you're thinking about taking courses online, be sure to review Smith, Shutt and Maffett's tips for managing your online education:

Set up a schedule for yourself, and try to stick to it.
Get all the books ahead of time if possible.
Keep up with assignments to avoid being overwhelmed later.
Read through all the message postings from faculty and students each day.
Use email regularly to contact your fellow classmates.
Don't hesitate to email your instructor if you need help.
Don't be a wallflower.
Realize you have less opportunity to interact with peers and professors in real time.
Team projects may take more time than you would expect -- be prepared for this.
Try to attend any optional on-campus classes, if offered.

Are You a Good Online Learner?

Here's a quiz adapted from the attributes Smith, Shutt and Maffett say will help make someone well-suited to virtual learning.

Do you have good time management skills?o Can you set up and follow a schedule?
Are you self-motivated?o Can you set your own pace while learning?
Can you work from different locations?o Are you comfortable with the Internet and PC technologies?
Are you ready to put in extra reading time?

Did you answer "yes" to most of these questions? If so, you may be a good candidate for online education.

Have a great day and God bless!

All About Career Schools

2007-04-14T10:26:00.000-07:00

Susan Aaron, The Learning Coach

Ever wonder about those schools that advertise on daytime TV? Can you compare traditional American colleges to schools that say they will prepare you for a career in just a few months? As it turns out, you can. Francis Giglio, director of Enhancement for the Accrediting Council for Independent Colleges and Schools (ACICS), the accrediting body for many of these schools, offers some insights into the nature of these institutions.

The Career School Niche

Career institutions are similar to traditional colleges and community colleges in some ways, yet have a niche all their own. The ACICS works with "independent, nonpublic career schools, colleges and organizations." That means none of these institutions are overseen by a state's board of governors or enjoy state tax funding. According to Giglio, "the majority of these schools are for-profit. Some are publicly traded, some are privately held, and a few of them are nonprofit."

The key qualifier for a career school is its mission -- preparing students for specific careers. The education offered is very practical. Most of the majors offered are skill-focused, such as accounting, information technology and drafting. Success is defined by placement of students in jobs after graduation, and the track record those students establish in their jobs. Like community colleges, career institutions are bly linked to local interests. Part of the criteria for ACICS accreditation is that schools work with local businesses to create their curriculum, notes Giglio.

Many programs at career institutions are two-year or associate's degrees. There are also bachelor's and even master's degrees available. Among ACICS accredited institutions, Giglio says career schools follow the "same credit requirements and requirements of faculty members" as an academic college or university.

Look for Accreditation

Career schools are accredited just like nonprofit colleges and universities, and the ACICS is approved by the US Department of Education (DOE). According to Giglio, "There's a tremendous amount of federal funding (for education) and accreditation is a way the Department of Education can have oversight of educational quality."

Schools not accredited by a DOE-approved agency may have a license to operate, but their students may not benefit from Federal financial aid money.

Other reasons for accreditation include:

Fulfilling company requirements for educational reimbursement.
Transferring credits from other institutions.
Helping employers rate the value of an applicant's or employee's education.
Qualifying graduates for licensing/certification exams.

Why Choose a Career School?

Career-Oriented Mission: If the education you need is to prepare you for a career, these schools may be the right place for you.
Focused Education: Career institutions provide a very practical education. Working closely with businesses to fulfill local needs, these institutions can help you find a job in your immediate geographic area.
School and business networking opportunities: Career institutions often provide an intimate atmosphere. "I think the things that attract students are smaller classrooms, real-life training and more accessibility to people," says Giglio. "Most of these institutions are housed in one building. You are in contact with the people who run the school every day."

Finding a Career School

Career schools are growing. Giglio notes that in 1996, there were 280,000 students in ACICS-accredited schools, and in 2000, there were 365,000. To learn more, follow these steps to research schools and their reputations:

Start by locating the institutions in your area that provide an education in your field of interest.
Check to see if these schools are accredited, and if the accreditation information is up to date.
Visit the school and ask questions. Inquire about business contacts in the community and past graduates' placement rates. Ask for contact information for past graduates and ask them about their experiences.
Use the ACICS Web site to search for ACICS accredited schools by area or interest.

Have a great day and God bless!

Advance Your Career with an Advanced Degree?

2007-04-14T10:22:00.000-07:00

John Rossheim

It seems like all the pieces are in place for the next giant leap in your career: Your friend told you his sister went back to school for a professional degree and, a week after graduating, landed a job with a $10,000 salary increase. So you know a degree would boost your pay. You know from your college experience five years or three decades ago that you're comfortable living on a student's diet of rice and beans. You've got a couple of blank grad school applications on your dining room table, so why not fill them out and take the plunge?

Before you quit your job or your job search to pursue an MBA or other advanced degree, you owe it to yourself to think more deeply about this major fork in the road of work and life. Here are some major checkpoints for your go/no-go decision on graduate school.

Why Do You Want to Go Back to School?

Begin your deliberations with the basics. "One of the most important factors is, where is this going to get you?" says Jane Finkle, a Philadelphia career counselor. Finkle recommends that you thoroughly research the employment opportunities for graduates of the program you're considering.

Are you looking for advancement in your current field, or do you want to change careers? Either can be a good reason to get a graduate degree if you've thought things through.

Erin Doland is clear that career change is her prime motivator. "The more I sat behind a desk all day, the more I realized changing employers wasn't going to make me happy," says Doland, who quit her job as communications director for a nonprofit to pursue a master's degree in education at Johns Hopkins University.

Whatever you do, don't let outdated preconceptions prevent you from considering grad school. "People may get to a lull in their careers and think, 'I'm too old to make a career change,' but they're not," says Peter Syverson, vice president for research at the Council of Graduate Schools in Washington, DC.

What Will a Graduate or Professional Degree Do for You?

A cautionary tale: A high tech worker who asked not to be named was laid off from her job at a Burlington, Massachusetts, maker of medical devices. When she was studying for an MBA in healthcare administration at Canyon College, an online school based in Caldwell, Idaho, she was asked what job titles the new degree would qualify her for. Her response? "I'm not completely sure. As I read the paper, I see titles that are all new to me: billing manager, client and third-party resource delegate..."

Unlike this MBA student, be sure of the jobs your graduate degree will qualify you for, and how many graduates of the programs you're considering actually land those jobs. Also find out about those graduates' salary levels.

Ask admissions representatives for survey results from the program's recent graduates. Sit in on classes, and pick the brains of students enrolled in the program. Don't just listen to the marketing pitch of a student handpicked by the admissions office to sell you on the program, Finkle advises.

Your ultimate reality check: Ask potential future employers how they would value a particular degree from the programs you're looking into. Is the degree a requirement or preference for your target positions, or is it irrelevant?

How Will You Pay the Tuition -- and Live Without the Salary?

Suppose you've established all the right reasons for getting a graduate degree. Now the question is, can you afford -- or avoid -- the common triple whammy of lost income, tuition fees and then student loan payments?

Doland, who earned her bachelor's degree in 1998, says "it makes sense" for her and her husband to live like college students for two years. Since she hasn't been out of college that long, downshifting her lifestyle is easier for her than it might be for a mid-career worker accustomed to a second home and eating out five nights a week.

If you can't stomach the comedown, see if you can get a head start on your graduate coursework by keeping your job, taking classes part-time and getting your employer to pay the tuition.

Have a great day and God bless!

Is College Really Worth It?

2007-04-14T09:58:00.000-07:00

James C. Gonyea

Considering the high cost of a college education and the drain that expense can have on college studnets financial resources and future, I am often asked by college-bound students, "Is college really worth it?"

Here are 10 reasons you should pursue a college education:

Analytical thinking skills: Today's world is complex, and it requires making daily decisions about personal, economic, health, political, professional and social matters. Learning how to approach a decision, gather relevant facts, analyze comparative and contradictory data and draw correct conclusions are necessary skills for successful living. There is no better training ground to develop these skills than college.

Career beginnings: Significant knowledge is required to understand the nature of most occupations. College is usually the most effective way to acquire this knowledge. For many professions, a college education is a prerequisite for entering the field.

Career advancement: Many employers base promotion decisions on an employee's educational attainments. Whether or not a college education is truly required to handle the job is irrelevant. Employers need ways to rank employees, and a college education is an easily identifiable standard.

Financial gain: While there are notable exceptions, individuals with four-year college degrees earn more over their careers than people with less education do. The difference in lifetime earnings between a college graduate and a non-college graduate can amount to several million dollars.

Economic preparation: We all participate in a complex and continually changing economic environment, which requires some understanding of our economy. Where better to learn about managing your life's finances than in Economics 101?

Friends and spouses: Colleges, even non-residential institutions, bring disparate people together in one place. When individuals find themselves sharing similar experiences it's not surprising that lifelong friendships -- and life partnerships -- can develop. Networking within a profession often begins here too.

Life awareness: The next time you're in a group of people, step back and watch how they interact with each other. Humans are social animals -- we bond with each other through conversation and other activities. College serves an important role in preparing individuals for continuing social interaction.

Lifelong source of advice and information: Graduation from college doesn't mean you won't be back. Just the opposite. Today, colleges and universities are eager to keep in touch with alumni, some offering programs and services on both personal and professional issues.

Purpose in life: At some point, most of us wonder about our purpose in life -- why are we here and what should we be doing? An essential part of finding your way is understanding other possible paths. Colleges, by their nature, bring together people with different lifestyles, ideas and experiences. Beyond the opportunities for awareness offered by the classroom and social interaction, colleges also offer independent study and internship programs that can let you explore alternative paths to find the one best suited for you.

Self-actualization: Psychologist Abraham Maslow theorized that we humans have a need to be somebody, to feel important, useful and of value to others and society. This self-actualizing behavior can mean developing and applying knowledge over time to build expertise in a given subject. Becoming expert in one's chosen career field is one of life's greatest feelings of accomplishment. As we age and begin to satisfy the more basic needs in our lives, this need for self-actualization becomes more important. Lifelong learning is a key element in developing a sense of accomplishment, and a college education is the foundation for lifelong learning.

After 30-plus years of offering advice as a professional career counselor, I think my understanding of life is much better than it was when I was younger. I believe the old adage that with age comes wisdom, and on reflection I find that my college education -- BS in education and MS in guidance and counseling -- is worth more than I ever imagined.

Have a great day and God bless!

College Student Study Tips

2007-04-07T20:35:00.000-07:00

Studying can be one of the most painful things to go through at college but if you learn some good methods and tips and can become your strong point in school.

Study Frequently and in Short Sessions

Test show that short periods of maximum concentration repeatedly is more benefical than studying for long periods at one time. 10 minutes of complete concentration is all you need and then you can take a break and come back to it again. Why does this work?

Our brains need to recover and reboot as the rest periods is when our brain assimilates our effort. These are very powerful tools that many teachers and college professors do not acknowledge to their students. Studying for hours on top of hours only put your brain in fatigue, stress, and distraction. Your learn will be minimum.

Take Guilt-Free Days of Rest

Resting your brain is very important as school and college can become stressful to even the elite college students that college is easy for them. Being able to take a day off without stress and worry will give your brain the needed time and energy to absorb new data. Really enjoy yourself on your days off and do something active that will exercise your body instead of your brain.

Know Your Emotional State

The best time to study is when you are relaxed and not tired, distracted, and in a hurry. Our brains are like a sponge when relax and easily absorbs information without effort. When you are emotionally stressed than our brain repels information you are studying leaving you with nothing for your hours of studying.

Same Day Review

Learning new things in class are fun but are often lost the next day. Don't let this happen to you and try to look over your notes from class the same day after a break and I promise you will begin to retain more information having studying time when exams or close to be at a minimum.

Set Study Routine

By having a schedule of studying for your classes will give you more time in doing the things you want like hanging out with friends. Getting more stuff during your study times will have your exam scores increasing and your relationships with others doing the same.

Don't waste time and get poor exam scores at college when you can be saving time and getting more done. The tips and methods are very easy and worth giving them a shot.

Have a great day and God bless!

Recieve More Financial Aid

2007-04-07T13:55:00.000-07:00

Last year over $152 billion dollars were given away in grants from the government and other organizations for college students. So how to you get you share of the money?

1. Apply Now

Don't put this off until it is too late. Financial aid goes to those who ask for it first so if you wait you might miss your chance to get free money. The very first thing you should do is fill out the Free Application for Federal Student Aid (FAFSA). You might have to check with the college you are attending or are planning to attend for some needed information. The FAFSA is used by many college and private college in deciding the college students financial aid that he gets.

Many people believe they will not receive any financial aid but you should fill out the FAFSA anyway. It has been proven that eight million students missed out on receiving aid from the government and this even includes 1.5 million who have qualified for Pell Grants.

Filling out the FAFSA is the basics step for qualifying for many non-need based loans, such as Stafford Loans that have very low interest rates unlike private loans.

2. Check With Your State

Checking with your state can also be an option as they have tons of money going towards bettering there state. During 2004 to 2005 college students received $7.9 billion in financial aid from their state. These came in forms of grants and scholarships that were based on merit and financial need.

The first step is to fill out the FAFSA and then contact the appropriate state forms. Click here to find your state's programs.

3. Start Your Begging

Writing a paper on your financial situation might not help solve your money problem so let's try something else.Melissa Diana, a financial aid consultant who runs the Web site Tuition Physician, recommends writing a letter to the financial aid office detailing any situation, such as a future hospital stay, which will affect your budget in the following year. You need to tell the financial aid offices that future events will hinder your ability to afford college as they only know information form last year.

Even after you receive your financial aid letter you can appeal your case as more colleges will give money if they know you are accepted and are considering attending. This could be your way to get some more money for college if you are accepted into these programs.

4. Scholarship Search

The majority of financial aid is given out in grants and loans but scholarships can help you as well pay for your college tuition. There is more than $15 billion available for you in scholarships but you will never get it unless you apply for it. Start off at FastWeb.com as I believe they are one of the very best scholarship searchers online.

5. Best Loan Search

Loans make up about half of all financial aid but it is very important to be very careful on what loans to take out and who from as they can come out to be thousands more than the actual loan. Taking the time and searching out the very best loans with your college and yourself is the safest way to go when looking for student college loans.

Have a great day and God bless!

Fast Web #1 Scholarship Finder

2007-04-06T09:27:00.000-07:00

FastWeb.com is like your own little college scholarship organizer for scholarships, colleges, jobs and internships with other resources at your figure tips. It has become my favorite website.

FastWeb for College Scholarships

I have been applying for about two months now on all kinds of scholarships and have already made $1,200 for college next year and I am thrilled.

It is so easy as well. After you finish the list of questions, FastWeb sends you hundreds of scholarships that apply to you and you actually have a good chance at winning. You have total access of these scholarships as well with your favorites, warnings on deadlines, and notifications of new scholarships.

Benefits of FastWeb

• Largest source of local, national and college-specific scholarships
• Personalized scholarship matching
• Search and compare colleges that are right for you
• Find colleges with scholarship money for you
• Tools and tips to help you pay for college
• Jobs and internships for students

FastWeb.com is by far the best college scholarship finder ever and I will be using it till I am out of college.

Have a great day and God bless!

College Scholarships Take TIme

2007-04-04T11:10:00.000-07:00

When I first started applying for college scholarships, college grants, and some way to paying for my college education everything seemed to be a waste of time.

Spending hours after hours on research, applying for scholarships, and writing essay after essay hoping one will earn some money for my college tuition.

Most people just give up. But not you!

I kept with it and learned how to win and earn scholarships that made all that time worth $300 an hour. It's worth the time.

Scholarship sites like FastWeb, CollegeBoard, etc. can help find you the right scholarships for you to increase your winnings.

I will be posting information on scholarships, grants, loans, and everything a college student needs to know so stick around.

Have a great day and God bless!

Improving SAT Scores For College

2007-04-03T10:51:00.000-07:00

Two improving SAT scores steps:

Step 1: Set your goals
Step 2: Develop a preparation strategy

Setting Goals

Good SAT SCORE?

SAT scores range from 200 to 800 points in each of the Verbal and Math areas of the SAT, or a overall score of up to 1600 points. Only 20 out of over 1,000,000 students each year get a perfect score on the SAT, so how do you figure out what a good score for you would be?

There are two good ways

1. Find out what the college you desire to attend requires. This can be in terms of a minimum SAT score or an average score for admitted Freshman. You can get this information by either calling the school's Admissions Office directly or by buying (or looking at) a book in your local book store or library. These books are usually found in the Reference section and distributed by a variety of publishers or can be found on the Internet using the links below:

2. Score at least as high on the SAT as the national average for your GPA in high school. Colleges and universities use SAT scores to compare students from different high schools across the country. They don't usually know how difficult or easy your high school is or the classes you took. So they use your SAT to compare or "validate" your GPA. Your SAT score should be roughly equivalent to your GPA (or better!).

Colleges are looking at SAT scores and high school GPA's more than ever so make sure you take that in consideration if you want to get into a really nice college.

Have a great day and God bless!

Free Federal Grant Money

2007-04-02T08:43:00.000-07:00

Are you thinking about getting money for college, tuition, and some for fun college student spending. Start with one of the largest sources of "tree Money for Education & Business Help" the Federal government.

While the governments concern is economic develop, you have the chance to take advantage of their generosity of recieving free money for a business or for college. It is estimated that next year they will give out over $35 billion dollars in grants and low interest loans.

This government giveaway program as college students and business owners recieving around $80,000 dollars each for their future. And it's all free!

Why have you not heard about this yet? Simple!

The governments advertising in this area of grant programs to the public. For most people it just becomes a losing battle and a waste of time.

Even though you hear about budget cuts, grant money still increases very year that is available to you. The amount of money given to college student has actually gone up 30 percent and the amount of money going to small businesses went up 5 percent.

Can average people get grants from these government giveaway programs?

Absolutely!

Most people believe they have to be very rich or very poor to get college grants from a government grant program. It is not true!

To be continued...

Have a great day and God bless!

Government College Grants Beginning!

2007-03-29T22:52:00.000-07:00

Are you as a college student who can't get enough financial aid, scholarships, and grants for youe college tuition?

Well, be ready to learn everything you need to get all the grants you need for college, starting a business, and much much more!

I have just ordered the #1 Government Grant Program and you can follow along and learn everything I learn right besides me without spending a penny. It's that awesome.

Ready, lets begin.

Private Foundation Grants

Most people seek out the federal government when in the search for grants to pay for college. Even though federal grants are the majority of financial aid, they are one of the hardest to get with all the competition.

Here is one of the secrets, private agencies offer other opportunities for you to recieve money for college. The hard part is addressing the concerns needed for private funders and improving your chances for getting more money for college.

Soon you will learn the "10 Commandments" for recieving all sources of research grants and not only private foundations.

Be Realistic

Don't try to make up stories and stretching the truth or your project as it might be better not submitting your application at all.

Follow Instructions

Use the format that is requested as applications that don't follow their instructions are usually thrown out.

Another thing that is also mis taken is putting the wrong agency on the applications. Make sure you post to the correct agency and grant company to avoid dumb rejections.

Avoid Overfamiliarity

Do not get caught up in a agency or company coming into your personal life but try to be interested in everything that agency or company is doing. The better connections you have the better chances of someone picking you to get the college grant and financial aid for college.

Sending a financial report could be a major turn on as it shows them your situation while telling them that you are not hidding anything from them. Everything that happens with college, scholarships, financial aid, etc. is nothing as you need to keep going as your college tuition will come to you.

The grants, college scholarships, and financial aid is out there so don't quit and keep searching to find money to pay for college.

Have a great day and God bless!

Top Internet scams exposed!

2007-03-29T15:56:00.000-07:00

Here you will learn the truth about online money scams, and pointed to the trust worthy ones that could earn you money college.

Learn to avoid Government Grant Information Scams

You probably are here because you've seen ads on google or yahoo or msn like:

Get Government Grants Free!
Get Up To $250,000 From The Government!
Free Government Grant CD
Obtain Government Grants Today !
Free Money From The Government

These ads seem to be everywhere. You will no doubt see several of these ads on forums, popular search engines, and possibly even on Television.

Why are there so many out there and why are they spending thousands of dollars advertising free money for college. Basically, they are selling us the promise of free money becaus eit if something we all need as college students to pay for our college education.

Isn't it possible to get grants from the Government?

Absolutely! There are several trust worthy companies that will send you information on how to apply for government grants. But the fact is that 99% of all people will be denied money from the government because they are scams.

These companies just take your money without helping you at all finding and getting grants for college.

To tell you the trust, most of these web sites offer you nothing more than the following:

Old out dated web site and phone number information
No help with filling out applications
No organization, just a huge list of unsorted grant programs, with addresses
No customer service or help available, sometimes not even an email address!
No refunds. Most of these fly-by-night companies just take your money, and when they get enough complaints they simply close the site and start up a new one. (a common scam site tactic)
Amateur web sites with broken links. (this is a dead give away to a scam site)
Guarantees to get you a specific amount of grant money (no one can do this!)
Guarantees to get you grants just by making a phone call (this is just not possible)

I have researched and looked further into some college grant programs and have discover only a couple are for real.

My absolute favorite is Uncle Sam's Money as it offers a free consulation with a grant start up specialist! Their grant specialist will tell you what grants you qualify for and help you through the application process step by step. This is a limited time offer though.

These companies have a good reputation and live up to that guarantee. This is excellent because you can try out these members areas for 2 months and if you don't like the results they will refund your money.

The Federal Government gives away billions of dollars every year to college students just like you and me. No matter what you need the money for the Government has a college grant for it. Do you want to start a small business? Did you just have a baby? Need to pay for college? Want to remodel your home? Want to buy a new home? The best part is you can get approved for as many grants as you qualify for and you never have to pay it back. As always I will keep you updated on my findings.

Have a great day and God bless!

Financial aid: How to get what's coming to you

2007-03-28T18:07:00.000-07:00

By Sarah Max

1. Introduction

Colleges use both formulas and feelings when awarding aid. Here's how to stack the odds in your favor.

Here's something that may surprise you: Four years at Harvard could actually cost the same as four years at a state school. That's because financial aid often makes up the difference between the sticker price and what you have to pay. If, for example, your "expected family contribution" is only $5,000, you might qualify for $25,000 in annual aid for a school that costs $30,000 each year. But if the school's annual costs are only $8,000 a year, you're likely to qualify for just $3,000 in aid.

When it comes to college financial aid, people have plenty of misconceptions. The cardinal rule for parents: assume nothing. Just because the family next door or your colleague's kid received aid doesn't mean you will -- or won't. Financial aid is based on a combination of factors, and differs from school to school, even child to child.

Despite the climbing costs of a college education, the outlook for parents seeking aid is pretty bright. A record $90 billion in financial aid was available in the 2002-2003 school year, according to the College Board, a non-profit organization that tracks college trends.

After adjusting for inflation, that's an 11.5 percent increase over the prior year. In all, more than 75 percent of private college students and 60 percent of public college students got some type of aid this past school year.

"While there have been tremendous increases in the cost of private education, there is a tremendous amount of aid available as well," says Alan Posich, an independent education consultant.

The trick is figuring out what aid you're eligible for -- then getting it.

2. Who gets aid?

Financial aid is no longer limited to just the hardest-pressed families. "There's a huge misconception that financial aid is only available if you are poor," says the College Board's Jack Joyce. Of course, you are still more likely to qualify for aid if your annual income is less than $70,000, but many schools will offer some aid to talented students whose parents earn more. Colleges and universities are increasingly offering aid to good students to improve the reputation of the school. "Colleges are recognizing that there are some very good students who don't qualify for federal aid, but can't afford to pay the full bill," says Posich.

The federal government dishes out the majority of available aid as grants and loan guarantees. The formulas used to calculate who gets aid are based largely on income. "The financial aid process is driven much more by income than assets," says Joyce. In general, aid is harder to obtain when income exceeds $100,000 and only one child is in school. If there are two or more children in school simultaneously, however, a family with an income of $150,000 may still qualify. Of course, it is impossible to give hard and fast guidelines about whether a particular student will receive aid, but you can do some preliminary calculations on websites such as www.collegeboard.com and www.finaid.com.

3. Cracking the aid formulas

Federal and state aid is awarded based on the information on a student's Free Application for Federal Student Aid. (You can complete the form online or download it from www.fafsa.org). Public colleges adhere closely to the form, and private schools also factor it into their offers. A second form, the College Scholarship Service Profile, is also used by hundreds of schools and many organizations that offer scholarships. Most people don't submit the form until the fall of the student's senior year of high school, long after the FAFSA, because you must indicate the schools to which you're applying. (Find the CSSP on the www.collegeboard.com.)

Both forms need to be completed every year that you apply for aid. Like filing your taxes or applying for a mortgage, the process isn't complicated, but it will be a good deal smoother if you are organized. Make things easier by saving your key financial information including tax forms, pay stubs, brokerage and bank account statements beginning in the student's junior year of high school.

Once a college has your FAFSA, it calculates eligibility by taking the cost of attending a particular college minus the expected family contribution (EFC). The EFC is based largely on income, but is also affected by your assets, the number of children you have attending college at the same time, and the number of years you have until retirement. (Schools try to avoid ransacking your nest egg if you are within ten or fifteen years of retirement.)

The institutional method used by most private schools is slightly more complicated than the federal formula. It makes allowances for such things as emergency savings and money put aside for younger children. Because private schools have their own money to dole out, they are often more willing to look beyond the numbers and take other situations into account, such as a sibling with a chronic illness or a particularly high cost of living. If your family has special financial circumstances that affect your ability to pay for college but are not apparent in the numbers, consider sending a letter to the college's financial aid office after submitting all the necessary forms.

4. Interpreting your award

Expect preliminary aid offers to arrive in your mailbox around the time your child receives an acceptance letter from the school. If you wind up getting aid offers from more than one school, you'll likely see differences. Aid packages vary not only in how much aid is offered, but how it is divided into grants and loans.

The best packages are made up by grants, which are categorized as need-based, merit-based, federal, state, and institutional. Grants are usually tax-free and don't have to be repaid. The largest federal grant programs, the Pell Grant and the federal Supplemental Educational Opportunity Grants, are based strictly on need and are generally non-negotiable. Pell Grants, which usually go to students from low-income families, offer a maximum of $3,300 annually. SEOP grants range from $100 to $4,000 a year. Grants that come directly from a school are often a mix of need-based and merit-based, which can be based on anything from academics to ethnicity to athletics.

The bulk of student aid -- about 60 percent-- comes in the form of subsidized and unsubsidized loans. The best of these will be subsidized loans, which typically carry low interest rates and which don't have to be repaid until several months after the student has graduated. With the federal Perkins Loan, students can borrow up to $4,000 a year for five years at a very low interest rate, usually 5 percent. The government puts a $20,000 annual cap on the loans, but it is up to a particular college to determine the size of a specific student's loan. The Stafford Loan also carries a relatively low interest rate, capped at 8.25 percent. College students may borrow up to maximums that rise the longer a student remains in school, from $2,625 in the first year to $5,500 in the senior year. Interest begins to accrue on these loans six months after a student graduates, at which time repayments begin.

Students who apply for aid are also eligible for unsubsidized Stafford loans. Interest on these loans begins to accrue immediately, although the borrower can defer the interest payment until he begins to repay the principal, typically after graduation.

In most cases, students who accept a federally subsidized loan will be required to participate in the federal Work-Study program, in which students are given on-campus jobs and expected to work between 10 and 15 hours a week.

Parents may also borrow. The Parent Loans for Undergraduate Students (PLUS) allow parents to borrow up to the total cost of four years of college, minus any financial aid received. The loan depends on your credit rating, although requirements are not as stringent as they are for a mortgage. The downside: repayment begins 60 days after you receive the loan, although you can stretch repayment over 10 years. The interest rate is tied to the short-term Treasury bill rate, with a maximum of 9 percent.

Keep in mind that you do not have to accept the entire package. You can decline a particular loan if you decide that you do not need it. However, you may not be able to decline a work-study job and still receive certain other loans.

Be sure to make your decision before the school's financial aid deadline. And don't forget to decline the offers made by other schools so that they can distribute the aid to other students.

5. Upgrade your aid

Not happy with your offer? You might try to appeal to the financial aid office for a better one. If your package contains an obvious error, or if you have reason to believe that an aspect of your finances was not taken into consideration, you may be able to successfully appeal. Also, be sure to let the financial aid office know if your circumstances changed after the application was signed, sealed and delivered.

But you may also win an appeal is if your child receives competing offers from two similar schools. (The College Board site, www.collegeboard.com, has an excellent worksheet for comparing offers.) If your child's first choice school made a relatively poor offer, however, see if anything may be done to improve it. "More and more schools are upfront about their willingness to compare competing offers," says Joyce.

Before you pick up the phone, be sure you are ready to state your case. Understand the terms of the current package and be able to articulate exactly what it will take to make the school affordable to you. Typically, the officer will ask you to send the competing offer or documentation of your new financial circumstances before making a decision.

Of course, the better your child's academic record, the better your chances for beefing up the offer. "Colleges want to match their resources with the students they most want to enroll," says Joyce. "This is no time to be shy." Even if your child is at the top of his class, you will want to emphasize affordability. Take care not to appear as though you are negotiating for the sake of negotiating.

6. Smart saving strategies

It's true that your family's income makes a big difference in qualifying you for most aid. But savings matter as well. Some critics maintain that schools punish those who, regardless of income, have scrimped and saved to pay for college. But schools have become much more sensitive when taking savings into account. It does not pay for parents to forgo saving money for college in the hope of receiving more aid. It is important, however, to find savings tools that will not hamper your ability to get more aid.

Most important, don't shortchange your retirement savings to save for college. The financial aid formula also assumes you can contribute "discretionary net worth," which is no more than 5.6 percent of your total net worth. And if you are older than 45, you will get an asset protection allowance as well, presumably because you need to use your savings for retirement. Your child's assets are a different story. Any money in your child's name is assessed at least a 35 percent rate. That's why it almost never pays to put savings in your child's name if you want to qualify for aid.

And if you are considering opening a 529 savings account, proceed with caution. These savings plans, available in most states, allow earnings to grow tax-free starting in 2002 (many states award a tax deduction for contributions as well).

The tax benefits of 529 plans are unmatched. Right now, however, it is unclear how 529 savings plans will be treated for financial aid purposes. In the past, earnings were categorized as the student’s income and, as such, reduced aid. Now that earnings are not subject to taxes, there is a chance that 529 plans will have no effect on aid.

That’s the best-case scenario. On the flip side, these plans could be treated more harshly than they were in the past. Joe Hurley, founder of Savingforcollege.com expects the Department of Education to offer some guidance on this subject this summer, before parents start applying for 2002/2003 financial aid.

Even if 529 withdrawals do affect aid, you don't have to skip the accounts altogether. Just make sure you only stash enough for the final year or two in the 529 account. Take out the biggest chunk to pay for senior year (when you no longer need to worry about qualifying for financial aid), and then the rest for junior year. In the student's first years of college, you may only want to withdraw a few thousand dollars or so, depending on your income.

Have a great day and God bless!

Financial Aid Myths

2007-03-28T15:20:00.000-07:00

Don't Believe Everything You Hear

Literally billions of dollars in financial aid is available to those who need help paying for college. Yet lots of misinformation clouds the facts about what type of aid is available and who is eligible. Here are some myths dispelled for college students confronting the process of securing financial aid.

College Is Just Too Expensive for Our Family

Despite the media hype about rising college costs, a college education is more affordable than most people think, especially when you consider college graduates earn an average of $1 million more over their careers than high-school graduates. The average yearly cost of a four-year public school in 2006-07 is just $5,836. There are some expensive schools, but high tuition is not a requirement for a good education.

There's Less Aid Available Than There Used to Be

In fact, student financial aid in 2005-06 rose to a record level of more than $134 billion. Most students receive some form of aid. Less of this aid now comes in the form of grants, however; most aid is awarded through low-interest loans or institutional and other grants. You should consider carefully the financing packages you've been offered by each college to determine which makes the most financial sense.

My Parents' Income Is Too High to Qualify for Aid

Aid is intended to make a college education available for students of families in many financial situations. College financial aid administrators often take into account not only income, but also other family members in college, home mortgage costs, and other factors. Aid is awarded to many families with incomes they thought would disqualify them.

My Parents Saved for College, So We Won't Qualify for Aid

Saving for college is always a good idea. Since most financial aid comes in the form of loans, the aid you are likely to receive will need to be repaid. Tucking away money could mean you have fewer loans to repay, and it won't mean you're not eligible for aid if you need it. A family's share of college costs is calculated based mostly on income, not assets such as savings.

I'm not a Straight A Student, So I Won't Get Aid

It's true that many scholarships reward merit, but the vast majority of federal aid is based on financial need and does not even consider grades.

If I Apply for a Loan, I Have to Take It

Families are not obligated to accept a low-interest loan if it is awarded to them. "In my opinion, everybody should apply for financial aid," says Tally Hart, director of student financial aid at Ohio State University. "Student loans are at all-time low interest rates." She recommends applying and comparing the loan awards with other debt instruments and assets to determine the best financial deal.

Working Will Hurt My Academic Success

College students who attempt to juggle full-time work and full-time studies do struggle. But research shows that students who work a moderate amount often do better academically. Securing an on-campus job related to career goals is a good way for you to help pay college costs, get experience, and create new ties with the university.

I Should Live at Home to Cut Costs

It's wise to study every avenue for reducing college costs, but living at home may not be the best way. Be sure to consider commuting and parking costs when you do this calculation. Living on campus may create more opportunities for work and other benefits.

Private Schools Are Out of Reach for My Family

Experts recommend deferring cost considerations until late in the college-selection process. Most important is finding a school that meets your academic, career, and personal needs. In fact, you might have a better chance of receiving aid from a private school. Private colleges often offer more financial aid to attract students from every income level. Higher college expenses also mean a better chance of demonstrating financial need.

Millions of Dollars in Scholarships Go Unused Every Year

Professional scholarship search services often tout this statistic. In fact, most unclaimed money is slated for a few eligible candidates, such as employees of a specific corporation or members of a certain organization. Most financial aid comes from the federal government, though it's also a good idea to research nonfederal sources of aid.

My Folks Will Have to Sell Their House to Pay for College

Home value is not considered in calculations for federal financial aid. Colleges may take home equity into account when determining how much you are expected to contribute to college costs, but income is a far greater factor in this determination. No college will expect your parents to sell their house to pay for your education.

We Can Negotiate a Better Deal

Many colleges will be sensitive to a family's specific financial situation, especially if certain nondiscretionary costs, such as unusually high medical bills, have been overlooked. But most colleges adhere to specific financial aid-award guidelines and will not adjust an award for a family that feels it got a better deal at another school. "We won't bargain, but we want to make sure we know the family's full financial picture," says Tally Hart, director of student financial aid at Ohio State University.

Have a great day and God bless!

Parents are failing to save for their children's university courses, says a survey.

2007-03-27T21:09:00.000-07:00

Scholarship Success Step One.

Find out where the sources of scholarships are. Some examples are scholarships given by the government, including federal or state governments. Another source would be from the actual school itself. Sometimes, there are bursaries available, which are based more on financial need than on merit. If you have any questions at all about the scholarship, do not hesitate to contact the person managing the scholarship.

Try to also gage if the scholarship is coming from a reliable source because it is possible that there are scam scholarships out there, so beware. Just remember don't give scholarships any financial information such as your bank account information or credit card number.

Scholarship Success Step Two.

Determine which scholarships you are eligible to apply for by carefully reading their eligibility requirements, and keep track of their websites or save their forms so that you can fill them out later. The sooner you do this the better because different scholarships have different deadlines, so you will need to prepare your file, such as reference letters or transcripts, accordingly. So remember also to take a note of the deadline so that you start preparing for it a month or two before it is due.

Choose to apply to as many scholarships that you think you will have a good chance of getting and perhaps don't apply to ones where you will have a slim chance. If the information is available, try to determine the number of people who applied in the last competition versus the number of people who got the scholarship.

Scholarship Success Step Three.

Read the instructions carefully before filling out the scholarship application form. Be as complete and thorough as possible when filling it out. Check spelling and grammatical errors. If a friend or relative has time, ask them to double check the application for you. Remember to include extra materials such as reference letters or transcripts as required. Also don't wait until the last day to submit it. If submitting online, it is best to do it at least one day before in case there is too much of a demand for their servers on the day of the deadline.

Scholarship Success Step Four.

Do the extra activities required for each scholarship. Some scholarships school marks, some stress leadership, others stress community service, and still others emphasize athletic performance, so do emphasize your strong points in the area that they are looking for. That's another advantage of looking up the eligibility requirements of scholarships earlier because you will have a feeling as to what types of scholars they would like to support.

Even though marks may not be an important factor in the scholarship, it always helps to keep your school marks high in case they do become a factor.

Have a great day and God bless!

Savings Gap for College Parents

2007-03-27T21:03:00.000-07:00

Parents are failing to save for their children's university courses, says a survey.

And they are underestimating how much a three years degree course is likely to cost.

Money problems also mean that students are taking term-time jobs, with another survey saying that more than half students are now working.

This is affecting their studies, as over 40% say they have missed lectures because of their jobs.

With students returning for the new university year, a survey suggests that many parents are failing to prepare for the financial pressures ahead.

The survey, from the Abbey National bank, found a third of parents are not yet saving for university costs - which the bank says is now going to be about £22,500.

Unprepared

This figure could be bad news for many parents - as the bank's survey says that a third of families are under the impression that they will only have to pay less than £10,000, with another quarter expecting to pay less than £20,000.

Only a tenth of parents are aware that the full cost is likely to be in excess of £20,000.

These figures apply to students now starting university - and the financial outlook is even tougher for those with young children - with forecasts that by 2020 university expenses will have reached £34,000.

In another survey, from NatWest bank, it appears that the number of students with part-time jobs is increasing - with 53% reporting that they are working, up from 48% last year.

This increase in work reflects the deepening levels of debt - up to an average of over £8,000, with more than a quarter of students owing more than £10,000.

Without working, three-quarters of students say they could not be able to financially survive through university, although 43% said that they had missed lectures because of their jobs.

And the survey found that six out of ten students believed that the current tuition fees system is not fair.

Have a great day and God bless!

Getting Grants For College Students

2007-03-24T10:21:00.000-07:00

Grants are what every college student wants as they are just like colllege scholarships meaning you don't have to pay them back. This financial aid are usually awarded on the basis of financial need, unlike most scholarships, and come from the usual aid providers: the federal government, the states, the schools, private organizations and individuals.

In most cases, there are no separate applications for grants. When you submit the FAFSA (Free Application for Federal Studetn Aid) you automatically apply for almost all forms of aid.

Federal Grants

The main players in the federal grant scene are the Pell Grant and the Federal Supplemental Educational Opportunity Grant (FSEOG). These grants go to families with exceptional financial need, and you apply for both by submitting a FAFSA. The only academic requirement for freshman applicants is that you graduate from high school or can document a comparable secondary education, such as a GED.

To keep the grant, you must maintain "satisfactory academic progress," which the government defines as C average. I wish it could be a little higher though.

Pell Grants.

The maximum award for the Pell Grant for 2006-2007 is $4,050, but this amount can change from year to year, depending on funding. How much you can get depends on your EFC (Expected Family Contribution) and the cost of attending the college at which you enroll. For example, a student would receive a Pell Grant of $400 if the EFC is $3,850, the maximum EFC for 2005-2006. Each school participating in the Pell Program receives enough money to pay the grant amounts its eligible students qualify for. Students who attend college less than fulltime can get partial Pell Grants.

Academic Competitiveness Grants and SMART Grants.

New for 2006-2007, these grants are open to qualified Pell Grant recipients. Academic Competitiveness Grants could give an extra $750 in the first year and $1,300 in the second year to Pell students who carry a B average and graduate from an academically challenging high school program. The SMART grant can give an additional $4,000 per year for Pell juniors and seniors who maintain a B average and major in science math, or a language of particular national interest.

FSEOGs.

FSEOGs are awarded to the students with the lowest EFC. Priority is given to those students who are also eligible for Pell Grants. FSEOGs are awarded based on the availability of FSEOG funds at the college. Not all colleges participate in the program. FSEOGs can range from $100 to $4,000, at the discretion of the college's financial aid office.

State Grants

Many states offer their own grant program. You must be a state resident and, in most cases, go to a state-supported public college (not required in California), be enrolled at least half time and, in some cases, maintain satisfactory academic progress. Such grants may be guaranteed to students with a specified grade point average or class ranking in high school.

They may also be earmarked for certain expenses, such as fees, books and supplies. In some states you apply by simply filling out the FAFSA. Other states have separate applications, usually available through the financial aid office.

School-Based and Private Grants

Most colleges, especially private colleges, award grants out of their own funds. They may appear quite similar to scholarships. The criteria are not always published, but colleges generally have the discretion to adjust the size of grants to financially needy students based on academic qualifications.

Many colleges also award grants to students regardless of financial need. Check with your college to find out the application process, if any.

Finally, private organizations, companies, associations, foundations and individuals award grants, whose criteria typically mirror those of the colleges that administer them.

If your family has a greater-than-average financial need and you are admitted to a college, you will probably be eligible for grants. Grants are easier to qualify for than scholarships, since financial need is usually considered before academic achievement. Since they don't have to be repaid, they are just about the most desirable form of aid. Nothing beats free money for college.

Have a great day and God bless!

Winning College Scholarships

2007-03-23T11:19:00.000-07:00

The college students that win the most college scholarships may not have more positive qualities than you, but they use the following strategy to get noticed by the scholarship committees.

So do you want to know these strategies?

Prepare Yourself!

Things you need to do to prepare yourself for filling out college scholarships:

Prepare yourself with teachers recommendations.
High school, and college transcripts.
Get involved with community, family, and church.
Determine why you are unique and goals for your future.
Get a picture of yourself.
A clear binder or organization.

And get ready to spend some time on college scholarships that will help you afford college and keep you from taking out too many college loans.

Get Organized

Begin researching scholarships that match your criteria and once you have the college scholarships for which you want to apply, keep track of the deadlines.

Create a chart to keep on top of all dates to make sure you do not miss any deadlines.

The chart should include:

Scholarship name and phone number
Date application must be received by scholarship committee
Date you requested the application
Date you received the application
Date application with above package was mailed
Date you called the Scholarship Agency to verify they received your application package

Get Noticed

Being organized, prepared, and filling out all the scholarships correctly is important but if you are not recognized than all that work was for nothing.

Even if you feel you master the English language, your essay should be critique by someone who has experience in essay writing.

Asking an english professor, teacher or anyone you know that is a really affective reader and writer would be an excellent choice to read your essay.

Have a great day and God bless!

College Scholarships & Financial Aid Types

2007-03-22T07:46:00.000-07:00

Let me break it down to you in 8 categories for you to show you that there are many other program out there that you can get money from.

Free Scholarship Lotteries

Several sites have started giving away scholarships to attract traffic. Website like iWon.com, Publisher's Clearinghouse, and Jackpot.com that give away millions of dollars a year.

The odds of your winning a free scholarship from these lotteries is usually less than 1 in 10,000. (If the scholarship lottery isn't well-publicized, the odds may drop to as low as 1 in 500.)

Federal and State Government Aid

This includes the FAFSA, student/parent loans, grants, and college student financial aid online.

Many colleges and universities, especially public institutions, also require the FAFSA. Filling out the FAFSA is the first thing everyone should do.

Grants are a form of financial aid, based on need, which you do not have to repay. Below, you will find links to a variety of grant resources online.

Undergraduate scholarships and graduate fellowships are forms of aid that help students pay for their education. Unlike student loans, scholarships and fellowships do not have to be repaid. Hundreds of thousands of scholarships and fellowships from several thousand sponsors are awarded each year.

The best way to find this free college scholarship and grants is to go on FastWeb.com.

There are so many program for college students to pay for scholarships and recieve money from college scholarships, grants, and loans.

Have a great day and God bless!

College Tuition Keeps Rising

2007-03-21T23:55:00.000-07:00

College costs and tuition is rising each year is no sign of coming to a hault. It is said most students and their families can expect to pay, on average, from $90 to $1,238 more than last year for this year's tuition and fees depending on what college or university they go to.

So is there any good news about tuition rising? Yes, because financial aid is rising as well to over $134 billion.

Paying $30,000 for college a year can become a nightmare but is it really that bad when you know how to get financial aid. The higher college tuition goes up and with your family making less money means more money for you.

Did you know that, according to U.S. Census Bureau statistics, people with a bachelor's degree earn nearly twice as much on average than those with only a high school diploma?

So it might seem if you really want to go to an expensive university that it would be worth every penny.

If you are a college student and are facing this major difficulty than don't worry and focus on scholarships and seeing how much help you will get from financial aid.

Have a great day and God bless!

College Student Scholarship FastWeb

2007-03-21T10:43:00.000-07:00

While beginning the process of filling all your college student information for scholarships that will apply for you the questions are simple and quick.

Throughout the series of questions there seemed to be a lot of advertising for other colleges and services like the army and airforce. There were even a lot of questions that were confusing and difficult for me to correctly answer.

When I was all done and through a page pops-up with job opportunities, scholarships, etc. with an easy way to control all your information. This website is one of the best resources for college students to search for loans, colleges, and scholarships.

I have visited many other websites and I believe now I have found one with trust worthy scholarships for college students in need for paying off tuition.

Have a great dat and God bless!

College Scholarship To Christian Leaders

2007-03-20T21:26:00.000-07:00

This scholarship for college students is directed at college students that want to be involved with Christian leadership and the church.

This college scholarship has the potential of big, medium, and small donation to your education but will all be worth it in the end.

Our Mission Statement:
The purpose of the Foundation is to assist Christian individuals with identified leadership history, high academic achievement and financial need with academic, vocational and ministry training to further the Kingdom of Jesus Christ.

Guidelines: The following are the minimum guidelines that must be met before a candidate will be considered for scholarship:

Christian testimony, and verifiable Christian leadership.
Entering undergraduate studies, or currently attempting to attain a degree. (Occasionally we assist graduate level students who meet all other criteria).
3.0 G.P.A. or better.
Financial need. Combined income of parents and student is below $60,000. Foundation students natural and step parent's incomes are included in that income ceiling.
Primary residence or attending college must be in “Southern California."

All of these forms as well as the information and documents referenced or requested in them must be received in one package by the deadline of May 7, 2007, in order for you to be considered.

If you are a college student looking for a college scholarship and are involved in the church or some sort of ministry than this could be your college scholarship.

Have a great day and God bless!

College Students Need Money For College

2007-03-19T17:26:00.000-07:00

Recommended Scholarship Websites

Here are some excellent websites for looking for scholarship to pay off college.

College Christian Leaders
www.collegechristianleader.com

FastWeb
www.fastweb.com

College Board Online Scholarship Search
www.collegeboard.org

Peterson's College Quest
www.collegequest.com

Scholarship Resource Network Express
www.srnexpress.com

Scholarship Search
www.scholarships.com

Have a great day and God bless!

College Student Life Questions & Answers

2007-03-19T08:27:00.000-07:00

EveryStudent.com is a safe place to explore issues about college, life, and what it might be like to know God.

Does it matter which God you call to?

Q: "People often pray to a 'God' in hard times. Is everyone having conversations with the same God? Does it matter which God you call to? Are there false gods?"

our A: People today like to believe that whoever you are praying to is fine. It doesn't matter if it's a Hindu god, a saint, Jesus, or Allah. The important thing is that you are praying, right?

Does it matter which God you call to? What if someone believed that a cactus could come to their aid? Is it likely that the cactus will come through for them? Can it analyze their situation? Know the needs of the person? Care about the person? And choose the wisest course of action to take on their behalf?

What if someone (true story) describes their higher power as a particular ocean wave at Venice Beach, California? What abilities does that wave possess? Any intelligence? Any power other than the wind's or tide's affect on it? Can that wave actually come to their aid? Of course not. The only benefit gained from faith in either the cactus or the wave is a misguided hope, a psychological boost.

Moving into some politically incorrect areas now...what if a person refers to God as Jesus or Allah or Buddha or Brahma or Mother Earth or themselves? Does it matter? Absolutely!

It's fine to say that a person can benefit from any "god" they choose to hope in. Even a false god can bring to the person's mind at least a temporary peace, encouragement and hope. But what if that "god" does not exist? It's like praying into thin air. Harmless? Yes, this is fine...as long as there is no real God. But as soon as a real, definite God comes into the picture, then the person runs into problems. Why?

Because the God Who Is might expect that everyone should be able to recognize that He is a supremely, vastly powerful God who created this universe, a God who created them, and One who expects to be acknowledged by them. And maybe to recognize that this God Who Is Really There is the only one who can really help them.

A person can pray to a wave or a cactus or to anybody or anything they want, but the God of the Bible says this...

"All the makers of idols will be put to shame and disgraced." (Isaiah 45:16)
"I am the LORD, and there is no other; apart from me there is no God." (Isaiah 45:5)
"It is I who made the earth and created mankind upon it. My own hands stretched out the heavens; I marshaled their starry hosts." (Isaiah 45:12)

The Bible also says...

"The LORD is good, a refuge in times of trouble. He cares for those who trust in him." (Nahum 1:7)
"The eyes of the LORD are on those who fear him, on those whose hope is in his unfailing love." (Psalms 33:18)
"Without faith it is impossible to please God, because anyone who comes to him must believe that he exists and that he rewards those who earnestly seek him." (Hebrews 11:6)
"Trust in the LORD with all your heart and lean not on your own understanding; in all your ways acknowledge him, and he will make your paths straight." (Proverbs 3:5-6)

If we are wanting a secure hope, we need to choose the God who exists! How do we know the real God? We know by looking at the facts, by looking at what God has revealed about Himself.

Have a great day and God bless!

Education & College Benefits

2007-03-18T11:33:00.000-07:00

The best reason to go to college is to learn more about the world you live in. You may have put off going to college because you weren't ready, or couldn't afford it. Now as you think about college again, there are other benefits that a college education offers.

Getting a college degree is a career necessity in today's business world. College graduates earn nearly twice as much during their working years as high school graduates. New information from the U.S. Census Bureau reinforces the value of a college education: workers 18 and over with a bachelor’s degree earn an average of $51,206 a year, while those with a high school diploma earn $27,915. Workers with an advanced degree make an average of $74,602, and those without a high school diploma average $18,734. College graduation will qualify you for many jobs that would not be available to you any other way. Your career advancement should be easier because some job promotions require a college degree.

Skill Development
A college education will help you develop your skills in reasoning, tolerance, reflection, and communication. These skills will help you resolve the conflicts and solve crisis that come up in the course of a personal or professional life. A college education will also help you understand other people's viewpoints, and learn how to disagree sensibly.

A satisfied life depend upon the rational resolution of conflicts and crises. Of course, these critical skills can be developed without going to college, but the college environment has proven to be a good place to practice, learn and polish skills that will last you a lifetime.

College and Networking
Many college graduates feel that the greatest benefit of their college years is the expansion of their social horizons. Meeting new people, making new friends, companionship, and sharing new experiences lead to personal growth. The skill of meeting and sharing information with people is known as networking. College graduates say that contacts they made in college often helped them find the job they wanted Others report that friends in college were tied to their own career climb. College graduates describe the value of these networks as having expanded their horizons from the tribal village to the global village.

Have a great day and God bless!

Choosing a College with Purpose

2007-03-18T11:23:00.000-07:00

Why do people go to college? Is it for the education, experience, career opportunity or to find that special someone, etc.

College has many benefits to college students in search for a great life with a successful career that can be obtained through college.

Is it enough?

I have lived and experienced three colleges so far and all of them had similarites and differences that made them interesting. What do all these different colleges have to offer us though?

College Types

Community College

The community college is an excellent place to start your post-secondary education. You may choose to earn an associate degree or a certificate at a community college then enter the workplace, or you might go on to a bachelor's degree by transferring to a four-year institution.

Reasons for choosing to attend a community college are as varied as individuals. Low tuition, convenient locations, open admissions and comprehensive course offerings are highly persuasive factors in students' personal calculations.

Four-Year College & University

Four-year colleges and universities offer bachelor's degrees in a variety fields of study. Most also offer graduate programs with opportunities to earn a master's degree, doctorate, or professional degree. The curriculum is usually broader than a two-year school.

Public colleges and universities are subsidized by tax money from the state in which they are located and are generally less expensive than private colleges. However, the low rates are normally available only to residents of the state. Out-of-staters, or non-residents, usually pay higher rates. They also may have limited financial aid funds for students.

Private colleges, on the other hand, are funded through endowments, tuition, and donations. The cost of attending a private college is usually higher than a public university. But don't rule private school out only because of cost! Private colleges often offer financial aid options that make their cost feasible.

Liberal Arts Colleges

Liberal arts colleges offer a broad base of courses in the humanities, social sciences, and sciences. Most are private and focus mainly on undergraduate students. Classes tend to be small and personal attention is available.

Whatever college you choose make sure it is the one for you and the has a purpose for your future.

Have a great day and God bless!

Eating Healthy Tips for College Students

2007-03-17T09:28:00.000-07:00

The average college student is often pressed for time, under a lot of stress and eating on the go. You may find it difficult to avoid bad habits that keep you from weight loss like skipping meals or frequenting fast food restaurants. But eating a healthy diet can help you feel better, cope with stress and perform better in the class-room and on the athletic field. It really isn't that hard to get started.

Eat a good breakfast.

Studies show that skipping breakfast detracts from scholastic achievement. When there isn't time to sit down and enjoy your morning meal, grab a bagel, piece of fruit, and some juice. Most of these items can be easily stored in your dorm room.

Fast Food

If you must eat fast foods, choose wisely. Choose pizza with half the cheese, a regular size roast beef sandwich, baked potato, or green salad with reduced calorie dressing. Limit high fat offering like french fries, fried chicken or fish sandwiches and watch out for salad dressing.

Healthy Snacks

Keep healthful snacks on hand so if hunger strikes during a late night study session, you won't be tempted by vending machine candy, chips, or ice cream. Possibilities include fresh or dried fruit, pretzels, unbuttered popcorn, rice cakes or whole wheat cracker. If you have a refrigerator, consider raw vegetables with low-fat yogurt or cottage cheese dip.

Calcium

Eat plenty of foods that are rich in calcium. People in their early twenties need to be build up stores of calcium in their bodies to prevent osteoporosis in later life. If you don't like milk, try to include ample amounts of low-fat yogurt, low-fat cheese, and green leafy vegetables in your diet.

Weight Loss Healthy

If you need to lose weight, do it sensibly. Starvation and/or diets that offer a quick fix usually backfire and are harmful. There is not truth to the theories that suggest eating foods in any particular combination will promote weight loss. The only safe way to lose weight, feel good while doing it, and keep it off is to eat a balanced diet.

Limit Sugar

Sugar provides calories in your diet but few other nutrients and it contributes significantly to tooth decay. Use it sparingly and consider sweetening coffee, tea, cereal and fruit with diet sweeteners instead.

Salad Eating Healthy

The dining hall salad bar can be either an asset or a detriment to you diet depending on how you choose from it. Of course, leafy greens, raw vegetable and fresh fruit are beneficial. But if you choose lot of creamy dressing, bacon bit, and mayonnaise based salads, the calories and fat may equal or even exceed those of a burger and fries.

Alcohol Amount

If you drink alcohol, keep in mind that it supplies calories but no nutritional value. A light beer, a glass of wine, or an ounce of liquor each has about 100 calories. There are also many health problems associated with drinking alcohol.

Drink lots of water

Your body needs at least eight glasses a day, and if you exercise vigorously, you may need more. To remind yourself, carry a water bottle along to class and keep it handy during late night study sessions.

Enjoy it!

Remember, food is a lot more than nourishment for our bodies. Enjoy and savor it.

For more information on weight loss and eating healthy go to top weight loss site and turn all the heads at your college.

Have a great day and God bless!

College Freshmen 15

2007-03-16T16:48:00.000-07:00

Eating disorders and over eating are fairly common on college campuses throughout the world. Seeking weight loss has become a struggle for college students without the proper knowledge.

A new study suggests that weight gained by freshmen is real; and that it may contribute to the problem. The "freshman 15" refers to the idea that freshmen college students - especially female students - gain 15 pounds during their freshman year of college because of unhealthy eating.

What needs to happen for this to change?

Eating Healthy

Making sure to eat small frequent meals from whole foods are important for a balance amount of vitamins and minerals.

Some times college food can become expensive so going for all the cheap choices have become quite popular. Instead of eating a lot of fatting foods try to eat as much fruits, vegetables, and meats as you can without packing in the fat.

Exercise

Getting frequent exercise is important as it will curve your appetite, burn more calories, and raise your metabolism. Most college have a workout area or gym so try to do some weight training or go take a run outside when it's nice out.

Sometimes eating healthy is difficult so try to get as much exercise as possible.

Think Active & Healthy

Develop activities that are active and you will have fun doing. Taking a walk with friends, playing basketball, etc. are excellent activities that will keep your metabolism burning calories all day long.

Learn to think about what you eat and what you will be doing for the next three to four hours. By thinking ahead it will help you make better food choices while eating according to what you will be doing later.

For more information on weight loss go to top weight loss site and find all the answers you need.

Have a great day and God bless!

Life Pacific College

2007-02-21T09:54:00.000-08:00

"Called To A Higher Standard"

"A Foundation of Faith"

"Realizing You Can Change The World"

"A Tradition of Excellence"

What is your purpose in life?

Life Pacific College is the bible college I was called to last year and has been the best choice in my entire life I have made as a college student.

This christian college is a Foursquare domination but has many students from all sorts of background and domination. The community, friendship, growth, and life changing experiences we have at Life Pacific College is nothing anywhere I have ever been before.

I love everything about this college and can't wait to wake up each morning in hopes that God will teach me something new each day.
Benefits of Life Pacific College:

1) Incredible professors and classes

2) Friendships stronger than ever

3) Experiencing what God has planed for your life

4) Beautiful environment

5) And of course, 30 to 45 minutes away from the beach and disneyland!

Finding a college and a christian college that you want to spend two to four years of your life can become a struggle but it is something most college students have to go through.

I encourage you to grab more information about Life Pacific College because it is my favorite place in the whole world and hopefully it will be yours too.

You can visit it by going to Life Pacific College and experence for yourself the awesome and life changing college experience you can discover.

Have a great day and God bless!

College Student Loan Forgiveness

2007-02-16T20:29:00.000-08:00

All those college loans can pile up on you every quickly if you don't pay every close attention to them. But if you need help paying them off then here are some options you might be interested in.

Several options for reducing your debt:

1) Americorps. In the domestic arm of the Peace Corps can offer you up to $7400 for living and $4725 for education with awards being given at the end of a full years service. This money can be used either way for paying off loans or paying for college.

With being a every rewarding job as you help others and clean up the environment you still get about $616 a month for living expenses.

2) Peace Corps. If you want to go overseas in a number of countries where conditions can be rough but the rewards are incredible. Volunteering each year can reduce loans by 15% for the first two years and than a 20% reduction the third year and forth year. That adds up to a 70% reduction on your loans while seeing the world.

3) Military. Service in the military can qualify you for financial assistance for college tuition while recieving pay at the same time. Students who serve in the Army National Guard, however, may be eligible to receive up to $10,000 through their Student Loan Repayment Program. The best way to find out about the program and your eligibility is to call your local recruiter and they will be able to take you through everything.

4) Teaching. It is possible to be eligible for cancellation or deferment of certain loans if you teach in designated school systems. To qualify, these teachers must:

For Perkins/NDSL loans made on of after July 1, 1987, teach in an elementary or secondary school that serves low-income students.

For Perkins Loans made on or after July 23, 1992, teach in an elementary or secondary school system with a shortage of teachers in a certain subject area.

For Perkins/NDSL loans made on or after July 1, 1987, teach disabled students in a public or other nonprofit elementary or secondary schools.

If you qualify to teach under any of the three conditions listed above, you may qualify to have up to 100% of your loan reduced in proportion to how long you teach. You can have 15% of your loan cancelled after your first and second years of service, 20% after the third and fourth years, and 30% after your fifth year.

You don't have to be in debt forever - or at least, a good portion of your adult life - if you're willing to take on any of the activities detailed above. Do a little research and you might find some rather interesting ways to help pay off that loan.

Good luck and God bless!

College Loans How Much Is Too Much?

2006-11-11T13:54:00.000-08:00

Many college lobbyists are debating over whether to increase the amount of money a student can take out in college loans. Financial-aid administrators are asking Congress if there will be a change in the amount of money a student can take out as the student loan amount was set over a decade ago.

Does the loan amount need to be changed or are student’s debt too much?

Looking from articles to government research and study reviews and the always interesting discussion forums has made me realize the amount people are taking out in loans. I come from a small town in Washington so by making the big move to attend college in California has me experiencing something mind blowing everyday.

Reading some students loans are as high as 100k, 200k, and even 450k has me wondering is it really worth taking out all those loans for certain colleges or is it just what needs to happen in our society today.

Depending on what job and career you are searching for it can be worth the time and money but it is wise to take out the least amount of money in college loans.

Some alternatives and tips to help limit loans you take out.

• Look for a school that will work with you and wants you to attend their college. They will be more likely to work with you on your financial aid package and issues than a college that you have to fight to get in.

• Lower-cost alternatives. It is wise and seen by many students to start out at a two-year college than transfer to a four-year to have some money. Make sure that you get the classes and degree that transfer to where you are going before making the decision to transfer.

• Get a job. A part-time job might not seem to help out that much but it adds up in the end while giving you a little extra money for school and fun here and there.

Well hopefully you enjoyed this post and I will write again soon.

Have a great day and God Bless!

College Simple Learning Tips

2006-11-05T12:16:00.000-08:00

1) Model after successful people in your area and learn from them to learn and educate yourself faster than ever. There is too much information and homework for you to master by yourself at college. Don't work alone and surround yourself with others that have the same passions of learning.

2) Learn to manage your time and set aside frequent study sessions throughout the week. This will quicken the learning curve and help you retain the information needed to succeed in your passion.

3) Use several learning methods when studying difficult information. This will prepare to better and faster for the college exam or midterm while also storing the information in your ling term memory.

4) Become an active learner with everything you study in college and in life. Don't spend hours on top of hours reviewing and studying certain information but equipt yourself with methods of learning that will accel the learning curve.

Have a great day and God Bless!

FAFSA #1 Financial Aid for College Students

2006-11-04T20:28:00.000-08:00

Have you ever wondered who gives out the most money in financial aid to college student besides the colleges? If you guessed the government, you are right.

The federal government every year gives out more than $70 billion in grants, loans, and work-study awards to millions of student each year. The FAFSA (Free Application for Federal Student Aid) is a must when seeking money for college and plus it is free.

Completing this form could be the most beneficial thing in receiving money for college than any scholarship or grant you receive elsewhere.

The FAFSA goes by your family’s income, assets, and similar information to calculate how much of your money can go into college. Your eligibility for federal aid and other programs depends on this information while also determining eligibility for both undergraduate and graduate aid.

Things needed when filling out the FAFSA:

Social Security Number.
Driver’s license number
W-2 Forms.
Your federal income tax return.
Current bank statements and records of stocks, bonds, and other investments.
Records of other untaxed income received.
Your business or farm records, if applicable.
If you are NOT a US citizen, your alien registration number.

Simple tips for completing the FAFSA:

Double check your information is correct and that the form is filled out completely.
Make sure to file the FAFSA as soon as possible after January 1 and keep renewing it each year right after January 1.

Applying online is the fastest way to submit form and receive the results. Requesting a PIN (Personal Identification Number) from www.pin.ed.gov is the first step to completing the FAFSA.

When you start the FAFSA nine step process, make sure you complete each step to avoid making further correction that will delay your submission of application.

More tips and info is coming soon.

God Bless!

14 Tips For Completing The FAFSA

2006-10-31T21:09:00.000-08:00

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

2006-10-31T20:44:00.000-08:00

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?

2006-10-31T20:26:00.000-08:00

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

2006-10-30T08:15:00.000-08:00

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

2006-10-27T14:34:00.000-07:00

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

2006-10-26T20:32:00.000-07:00

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

2006-10-23T07:53:00.000-07:00

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

2006-10-22T11:40:00.000-07:00

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

2006-10-22T11:37:00.000-07:00

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

2006-10-22T11:32:00.000-07:00

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

2006-10-22T11:27:00.000-07:00

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

2006-10-22T11:18:00.000-07:00

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:

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

2006-10-22T11:12:00.000-07:00

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

2006-10-22T11:07:00.000-07:00

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

2006-10-22T10:55:00.000-07:00

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:

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

2006-10-22T10:43:00.000-07:00

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

2006-10-22T10:42:00.000-07:00

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

2006-10-21T22:02:00.000-07:00

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

2006-10-21T21:55:00.000-07:00

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

2006-10-21T21:44:00.000-07:00

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

2006-10-21T21:30:00.000-07:00

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

2006-10-21T10:02:00.000-07:00

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

2006-10-21T09:57:00.000-07:00

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

2006-10-18T15:32:00.000-07:00

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

2006-10-18T15:18:00.000-07:00

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

2006-10-17T09:14:00.000-07:00

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

2006-10-11T08:41:00.000-07:00

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:

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.
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.
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.
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

2006-10-11T08:33:00.000-07:00

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

2006-10-11T08:28:00.000-07:00

By SavingForCollege.com

College Financial Aid Eligibility

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

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.
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.
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

2006-10-11T08:26:00.000-07:00

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

2006-10-11T08:08:00.000-07:00

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

2006-10-11T08:03:00.000-07:00

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

2006-10-11T08:00:00.000-07:00

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

2006-10-08T22:00:00.000-07:00

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

2006-10-08T21:55:00.000-07:00

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

2006-10-08T21:46:00.000-07:00

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.

College Savings 101

2006-10-08T21:37:00.000-07:00

By SavingForCollege.com

College savings basics

Imagine your child coming to you with an acceptance letter from "the" college. The one he’s been dreaming of all through high school. The one that perfectly matches her career aspirations. Perhaps even your own alma mater.

Only one thing could make you prouder – knowing that you have done your homework, too. That no matter where your child is accepted or what financial aid is offered, you have the resources to afford the college of choice.

Numerous surveys and studies have been published describing how parents prepare for future college costs. You probably don’t need a survey to tell you what you already know:

Kids grow too fast.
College is expensive.
The time to start saving and planning is now.

Your child’s college tuition could be one of the largest expenditures you ever make. And, if you have more than one child, the financial commitment is even greater. The financial challenge you face is shared by millions of others.

Fortunately, American families with a desire to save for future college expenses now have more options than ever before. Traditional investment options—savings accounts, taxable investment accounts, annuities, and U.S. Savings Bonds—are now joined by powerful new investment vehicles including Section 529 college savings programs and Coverdell education savings accounts.

New investment programs bring new opportunities, but they may make decisions more difficult for people who want the best education possible for the children in their lives.

With these pages, we hope to help you gain a basic understanding of your options so that you can maximize the return on every dollar you set aside for a child’s future. Our focus is on the relatively new and increasingly popular “529 plan,” but we also explain other commonly used savings and investment vehicles.

Remember, even if your goal seems overwhelming now, the proper planning and saving can put the cost of any college within your reach.

How To Choose The Best College Scholarships

2006-10-08T13:05:00.000-07:00

By: Gen & Kelly Tanabe
Founders of SuperCollege.com and authors of "Get Into Any College" and "Get Free Cash For College."

If only there were a Scholarship Magic Eight Ball that could divine your scholarship fate. For some scholarships, it would answer, “Yes,” and for others it would foretell, “Try again.” A lot of your time and effort would be spared because you’d only need to apply for the awards you’d win.

While there’s no way to perfectly predict if you’ll win, there are some guidelines you can use to select scholarships that fit you best and prioritize which scholarships to apply for. By understanding what the scholarship committees are looking for and by examining how your qualifications fit with those scholarships, you can make qualified decisions about selecting scholarships.

Read The Minds Of The Scholarship Committee. By this, we mean to try to understand what the scholarship committee wants out of its winners. Think from the perspective of the scholarship committee about why it is awarding the scholarship and what kind of student it is seeking. The easiest way to get this information is to read the scholarship criteria and materials from the sponsoring organization. This will help you see what the organization is trying to accomplish by providing the award.

Know If The Pants Fit. In other words, only apply to scholarships that fit you. If you dreamed of becoming a ballerina when you were a child but have never sported a tutu, then don’t apply for a scholarship for the arts. Apply for those scholarships for which your background is the best fit.

Size Up The Competition. Knowing how tough your competition is will also help you choose which scholarships to apply to first. Your competition can be as broad as every student in America or as limited as the members of your school’s Delta Phi Epsilon. As you can guess, the larger your competition, the more outstanding you need to be to win. Look at your accomplishments and think about how they compare to others at your school, in your city, and in your state. Select scholarships accordingly.

Tick Tock. A last way to eliminate is practicality, how much time you have to spend on the applications. Figure out how much time you can spend, then start applying, starting with those that fit you best.

By having a strategic approach to selecting scholarships, you will spend your time on the awards that offer the best potential for paying off.

Avoiding College Scholarship Scams

2006-10-08T12:58:00.000-07:00

By: Gen Tanabe
Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

While the great majority of scholarship providers and scholarship services have philanthropic intentions, not all do. According to the Federal Trade Commission, there were over 175,000 cases reported of scholarship scams, costing consumers $22 million in 1999.

What makes these scams difficult to avoid is that they play to your worst fear: not having enough money to pay for tuition. Even people who laugh at the thought of buying something on an infomercial don’t think twice about handing over money to a company that promises an easy solution to financial aid.

Here are some examples of “tempting” offers that you should avoid. Remember while the words may change, the message is still the same: Pay us and you won’t have to worry about how to pay for tuition.

“Pay us $$$ and we will create a personalized financial aid plan for you. We have a library of hundreds of resources that we will use to create an individualized financial aid plan for you.” What they don’t tell you is that the resources they use can easily be found for free on the Internet or in your library. Save yourself hundreds of dollars and find the scholarships yourself. Plus, you’ll do a much more thorough job and actually be able to find scholarships that you can win.

“Pay us $$$ and we will research and identify the 20 scholarships that fit you best. Why spend weeks researching scholarships when our specialized researchers can do it for you? We have scholarship sources that no one else does. Plus, you are guaranteed to win at least one.” You would receive a list of 20 scholarships you could have found on your own for free. Plus, any scholarship that is a “guaranteed” win is a scam, as you’ll see later.

“You’re a finalist in our scholarship. Pay us $$$ for your registration fee. You’re guaranteed to win!” The truth is that you are not guaranteed to win, or if you did win, the prize would be less than the registration fee. Real scholarships never require any fee from applicants.

“You’ve won our scholarship, guaranteed! All we need is your credit card number to verify your eligibility.” Instead of winning a “guaranteed” scholarship, you would get some surprise charges on your credit card.

“Come to our FREE and informative financial aid seminar, where you’ll learn our secret strategies for scholarships found no where else in the world.” Seminars like these may actually be sales pitches for any combination of the above. Not all seminars are scams or rip-offs so you’ll have to use your own judgment. However, one giveaway is if the seminar sounds like a sale pitch or contains promises that sound too good to be true. If you feel like the marketing copy was written by the same people who produce those late night infomercials, then you are probably looking at a seminar where you will be asked to part with your money for what may be totally worthless information.

In general, the major telltale sign that you are about to be taken by a dubious offer is if you are asked to pay any significant amount of money. Particularly if you are applying to a scholarship, never part with your money. Scholarships are meant to pay you money not the other way around.

The old adage of consumer protection applies to scholarships: If an offer sounds too good to be true, it probably is.

What Is Financial Need?

2006-10-06T10:47:00.000-07:00

By: Gen Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

The term financial need is simply the amount of money you will need to finance your college education. How do you figure this out?

First you need your "Expected Family Contribution" or EFC. This is the amount you and your parents can reasonably contribute to your education. The government or colleges will look at your parent's salaries, savings, assets, and debts to determine how much they can afford to pay. Your assets (i.e., earnings from your summer job) will also be figured into this equation. From this number will be subtracted the "Cost of Attendance" or COA. This is simply the estimated annual cost of the college including tuition, room and board, books and supplies, and travel expenses from your home to school.

So we get something that look like this:

Cost of Attendance (COA)
(minus) Expected Family Contribution (EFC)
(equals) = Financial Need
Financial need expresses the amount of money you will need to go to school.

So all the forms that you will fill out will basically be used to determine how much money your family has and how much they can "reasonably" afford to put toward your education. Of course, what is considered "reasonable" by the government or college may not seem so to your family!

Understanding Federal Financial Aid?

2006-10-06T10:44:00.000-07:00

By: Kelly Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

Each year, the federal government awards over $46 billion in financial aid for higher education. Aid from the government is awarded based on financial need. To apply, you will need to complete the Free Application for Federal Student Aid (FAFSA).

The FAFSA is available online at www.fafsa.ed.gov or by calling 1-800-4-FED-AID.However, not all aid is created equal! The government awards three distinct types of financial aid, each with its own benefits and eligibility requirements:

Grants: Money with no strings attached—meaning you don’t have to pay it back. This is really the equivalent of hitting the financial aid jackpot. Grants are awarded to those who have the most financial need.

Loans: Money you borrow and are required to pay back with interest. In most cases the terms are more generous than other types of loans such as home equity loans. Loans may be based on your parents' credit-worthiness.

Work-Study: Money you earn the old-fashioned way—by working. Through work-study, you may be eligible for part-time jobs on-campus or near campus that other students are not because the government subsidizes your pay.

These are the three types of financial aid the government provides. Most financial aid packages are a combination of the above. Your school will try to help you develop a package that meets your financial need. Depending on the package you receive, you may need to pay back the funds, work for the funds, or not do anything except go to class.

College Transfer Student Financial Aid

2006-10-06T10:42:00.000-07:00

By: Next Step Magazine

This article is presented by The Next Step Magazine, a publication that helps students prepare for life after high school. Visit them at www.nextstepmagazine.com.

Preparing to attend a new school can be an exciting and hectic time. Add, “How am I going to pay for it all?” into the equation, and it can seem a bit overwhelming.

Don’t worry; this crash course in financial aid will teach you all your options when it comes to paying for school (and show you that it’s not as hard as you think).

Fill out the FAFSA
Before you look any further, fill out the Free Application for Federal Student Aid (FAFSA). Financial aid officers use this form to determine the amount of your financial-aid award. You can get a paper FAFSA at your two-year school’s financial aid office, or fill it out online at www.fafsa.ed.gov.

Remember: Even if you completed a FAFSA last year, you must submit a new FAFSA every year you’re in college to qualify for federal aid.

Know your free options
Once you’ve completed the FAFSA, you should start researching potential scholarships and grant money, known as gift aid. One of the great things about gift aid is that you don’t have to pay it back! Exhaust all forms of gift aid before considering any federal or private student loans.

Don’t discount your ability to qualify for scholarships just because you’re not valedictorian or a star athlete. While some are based on academic or athletic performance, there are tons of scholarships out there for everything from your ethnic background to your hobbies. You can find free aid if you devote time and a bit of organization to your search.

The financial aid office at your new school is a great place to start your search, as is the library. The Internet also offers a wealth of information about scholarships and other college-related topics.

Also check with your parents’ employers, local foundations, civic groups and community organizations for scholarship opportunities.

Learn about loans
If you find that you still need money once you’ve exhausted all sources of gift aid, consider your loan options, such as the federal Stafford and the PLUS (Parent Loan for Undergraduate Students) loans.

Stafford loans come in two forms: subsidized and unsubsidized. You don’t have to pay interest on subsidized Stafford loans while you’re in school and for six months after you leave school or drop below half-time enrollment. Interest accrues on unsubsidized Stafford loans from the date of your first loan disbursement.

Your aid package from your new school will most likely include a combination of subsidized and unsubsidized loans. There are limits to how much you can borrow according to your year in school, so check with your financial aid counselor for the specifics.

PLUS loans are federally sponsored loans for parents. Unlike Stafford loans, there isn’t a loan limit. Your parents can borrow up to the full cost of your education. However, your parents will have to start paying back this loan within 60 days of the last time they receive a payment.

An important thing to note about Stafford and PLUS loans is that the new interest rates are the lowest in the history of the student-loan program.

Parents can take advantage low rates on PLUS loans. So if you or your parents are thinking of dipping into retirement funds or charging tuition and other expenses to credit cards, these low interest rates may make taking out a federal loan a better option.

If you still need more money for school, consider a private lender that offers loans specifically for students. Some lenders offer repayment discounts for paying on time, consolidation options or special repayment plans, so be sure to research various lenders and weigh your choices carefully.

By planning ahead, knowing your options, and investing a bit of time and organization,free aid is totally within your reach. And remember: Even if you didn’t get financial aid in the past, keep looking! A college education is worth every penny.

College Transfer Student Financial Aid

2006-10-06T10:38:00.000-07:00

College Tips For Completing Financial Aid Forms

2006-10-06T10:33:00.000-07:00

By: Gen Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

At the end of Chapter 11 of our book, Get Into Any College: Secrets Of Harvard Students is a letter that explained the financial strain of having a parent laid off which convinced Harvard's Financial Aid Office to increase their offer of financial aid to a student by thousands of dollars.

While most students will not have this kind of experience, there are effective ways that you can make your needs known to the financial aid officers. The best way is to complete the myriad of forms carefully.

Be Thorough. By this we mean both making sure that you complete every blank and that you include as much information as you have.

Be Honest. You don't want lies about your financial aid application coming to haunt you as a student. And trust us, you won't be a student for long if this happens.

Show That You Need Aid (If Indeed You Do). If you are in need of support, which is the case for most students, demonstrate it. In the space provided on the application or in a separate letter, explain any factors that you think might affect your family's ability to pay. Make sure to note any extenuating circumstances that the government or colleges may overlook. Such circumstances include unusual medical or dental expenses, costs for a sibling's education, or a parent's recent unemployment.

Make Copies As Cheat Sheets. After you have completed all of your application forms, make sure that you make copies of them. You will be using some of this information when applying to other scholarships and also when applying for aid for the following year.

You've been through the grueling process once, make it easier for yourself the next time by having your photocopies to use as cheat sheets.

FAFSA Your Key To College Financial Aid

2006-10-06T10:15:00.000-07:00

rBy: Gen Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

Whenever the government is involved you can bet that there are forms to fill out. For federal financial aid, this form is known as the FAFSA or Free Application for Federal Student Aid.

You will need to provide information on your family, employment, income, and assets. With the exception of Direct or FFEL PLUS Loans, the FAFSA is the only form you’ll need to complete to be considered for federal financial aid.

You can get the FAFSA online at http://www.fafsa.ed.gov. You can also pick up a paper application from your counselor or financial aid office.

You must complete the FAFSA form as soon as possible AFTER January 1 for each school year. The deadline for submission is typically in July, and there are no extensions or exceptions. Note that individual schools may have earlier deadlines for the FAFSA and for their own financial aid forms to apply for school-specific financial aid. Pay attention to these important deadlines.

If you have applied for federal financial aid before, you may be eligible to complete the Renewal FAFSA, which has information pre-filled from your previous application. Check with your school or the Federal Student Aid Information Center (1-800-4-FED-AID) for more information.

As with all forms, at first glance the FAFSA can seem intimidating. However, if you spend some time working on it, you’ll find that the information is relatively straightforward. To help, here are some tips for completing the form.

File the form as soon as possible after January 1. This is an important form. Don’t procrastinate.

Complete your income tax forms early. Unless you’re an accountant, there are many more enjoyable things you’d probably rather do, but information from your income tax forms will be very helpful for completing the FAFSA. Plus, while others are stressed and panic-stricken around April 15th, you’ll already be done with your taxes.

Follow directions. The Department of Education reports that delays are caused most often because students or parents don’t follow directions when completing the FAFSA. Spend the time to read the directions and follow them completely.

Be thorough. Answer questions completely with all of the information requested.

Realize that the FAFSA takes time. Set aside a couple afternoons or evenings to be able to concentrate on completing the form. Don’t think that you can complete it during the commercials of your favorite sitcom.

Check with your school, scholarship programs, and fellowship programs to see if any additional forms are required. With the exception of Direct or FFEL PLUS Loans, the FAFSA is the only form you need to complete for federal financial aid. However, for individual schools, scholarship programs, and fellowship programs, you may need to complete additional forms. Ask them.

Don’t think you’re on your own. Use the help provided by your school and by the government. The Department of Education has an entire staff of people dedicated to assisting you with completing the necessary forms and answering your questions about financial aid.

What Happens After Your Submit The FAFSA

Once you’ve submitted the FAFSA, the Department of Education will process your application and in two to four weeks provide you with the Student Aid Report (SAR). The SAR reflects the information that you submitted in the FAFSA and provides your Estimated Family Contribution (EFC) or how much you will be expected to pay with your own money. Your responsibility is to review the SAR and, if necessary, submit any corrections to the Department of Education.

Using your SAR and EFC, your school will develop a financial aid package. The school’s goal is to meet your Financial Need, which is the difference between the Cost of Attendance (total estimated cost of attending a specific college including tuition, room and board, books, travel, and personal expenses) and your EFC.

The FAFSA is an important part of your overall financial aid package. Even if you think you are not eligible for financial aid, you should still complete the form. It’s free and you might be surprised at what you are offered. A low interest loan with deferred payments may be just what you need to make ends meet.

International College Students' Requirements

2006-10-06T08:36:00.000-07:00

By: Kelly Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

If you are not a US citizen, you may have somewhat less opportunities for aid. To receive aid from the US government, you must be a citizen, US national, or permanent resident. Very specific groups of non-citizens are also eligible. Still, your own government may have funds to help, and many American colleges provide aid to international students as well.

For more information on aid for international students, get a copy of Funding for US Study: A Guide for Foreign Nationals.

Most colleges will request that you complete the following: CSS Foreign Student Financial Aid Application (FSFAA) and Certificate of Finances (COF). These are available from the college financial aid or admissions offices. Some colleges require their own financial aid forms for international students instead of or in addition to these forms. You should refer to the individual applications for more information.

Exceptions to this are students who are not US citizens or permanent residents but whose parents live or earn income in the US If you are in this category, most colleges will ask you to use the PROFILE service instead.

College Grants From Uncle Sam

2006-10-06T08:30:00.000-07:00

By: Kelly Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

The government awards three types of financial aid for higher education: grants, loans, and work-study. Grants are at the top of the financial aid food chain since they do not need to be repaid. They are in effect free cash for college. However, grants also have the strictest financial need requirements.

The following is a description of the two major grant programs: Federal Pell Grants and Federal Supplemental Educational Opportunity Grants.

Federal Pell Grants

Eligibility: For undergraduate study, with the exception of post-baccalaureate teacher certification programs. You can be enrolled less than half time. Provides every eligible student with funds.

Based on: Financial need as determined by your Estimated Family Contribution and Cost Of Attendance, full-time or part-time status, length of enrollment, i.e., full academic year or less.

Note: The Estimated Family Contribution (EFC) is the amount of money the government determines you can afford to pay for your education based on the information you provide in the Free Application for Federal Student Aid (FAFSA), the form required to apply for federal financial aid.

The Cost Of Attendance (COA) is an estimate of the total cost of attending a specific college and includes the annual tuition, room and board, books, travel, and personal expenses.

Amount: Varies based on funding. The maximum amount is $4,050.

Cost: None.

To apply: Complete the Free Application for Federal Student Aid (FAFSA).

How you get the money: Your school can credit the grant to your school account, pay you directly, or do a combination of both.

Federal Supplemental Educational Opportunity Grants (FSEOGs)

Details: Grants for undergraduates with the most financial need, i.e., the lowest Expected Family Contributions. FSEOG Grants do not need to be repaid. The government provides limited funds for individual schools to administer this program. This means that there is no guarantee that every eligible student will receive an FSEOG Grant.

Based on: Financial need, other aid you receive, and the availability of funds at your school. Priority is given to those who receive Federal Pell Grants.

Amount: $100-$4,000 per year.

Cost: None.

To apply: Contact your school to find out if additional information is required other than the Free Application for Federal Student Aid (FAFSA). Deadlines are determined by each school and may be earlier than the FAFSA deadline.

How you get the money: The school will credit your account, pay you by check, or both.

College Financial Aid Mumbo Jumbo Explained

2006-10-06T08:26:00.000-07:00

By: Gen Tanabe

Co-founder of SuperCollege.com and co-author of "Get Into Any College" and "Get Free Cash For College."

Applying for financial aid is very much like filling out tax forms. While there is a lot of technical mumbo jumbo, there are a few essential concepts and terms which you need to know in order to understand the process.

The first thing to understand is that financial aid comes in various forms from the government, colleges, and private organizations. These include:

Grants Or Scholarships--Money with no strings attached--meaning you don't have to pay it back. This is really the equivalent of hitting the financial aid jackpot.

Federal Work-Study (FWS)--(Formerly College Work-Study) The government will help subsidize your salary for jobs during the semester. This means you will have an easy time finding work on and off campus since you will be cheap labor (your employer will only have to pay part of your salary, with the government picking up the rest.) The downside is, of course, that since you will have to work you will have less time to goof off!

Low-Interest Or Deferred-Interest Loans--These are the easiest to qualify for but that's because they must be paid back with interest. However, you will find that the terms can be fairly generous. To receive these you complete a loan application. When your application is approved, you sign a promissory note, promising to repay the money.

There are also two general criteria for getting money for college. The first is called need based. From the various financial aid forms that you submit, the colleges and government will determine how much you (that's right you are expected to contribute to your own education) and your parents can afford to pay. The difference between this number and the annual cost of your college education will be your financial need, which will be met by a combination of grants, work-study, and loans.

The second criterion is merit based. Merit based aid is awarded for skills or talents that are not related to students' financial need. For example, students can win scholarships from colleges based on their athletic, leadership, or academic achievement. Besides money from colleges and the government, another important source of financial aid is outside scholarships.

These can be need based, merit based or both and are sponsored by various private groups. Outside scholarships often require the most work but are also some of the more lucrative. Proof: One student we know won over $100,000 in merit-based outside scholarships!

Note: In Chapter 11 of Get Into Any College: Secrets Of Harvard Students you will find a very useful list of various sources of financial aid from the government and colleges.

College Tuition Higher Each Year

2006-10-02T08:33:00.000-07:00

By Jared Wash

It is incredible to see how much college tuition cost have elevated in today's society that has made paying for college practically bankrupting for certain family's.

College tuition cost average an 8% increase each year and have no intention of decreasing anytime soon. This is bad news for new borns today as it means that college costs will be more than three times what they are right now when the child attends college.

So why is tuition soaring? According to conventional campus wisdom, it's because of declining external funding: lagging state subsidies to public universities, inadequate contributions and investment income at private ones. Schools also sometimes argue that higher tuition is funding qualitative improvements.

No offense, but that is not the reason.

With all my research and reading it has become apparent that the biggest reason for college tuition to increase is because of grants, scholarships, finacial aid, work-study programs ,and government funding.

Thats it!

This has increase college expenses around 70% in the last 20 years with all that extra money going towards college scholarships, government programs, and just free money for other students.

I will go into further detail later but for now I am just going to say that with this rise in college cost and expenses, students are taking college over seas, business schools like ITT, or just getting certified in certain areas.

In society today the middle class students are paying the price for getting a higher education and a college degree that needs to be put to an end.

Getting a college education or online college degree should not leave you $40,000 in the whole.

College Mistake That Hurts!

2006-09-29T22:03:00.000-07:00

Wow! I have just learned a very hard lesson while starting the new school year at a bran new college. The hard lesson I just learned was not studying long enough and correctly for a big test that thanks to God I pulled off a 78%.

You may not believe or feel that this is so bad, but if I don't keep a 3.6 or higher GPA I can say good bye to my scholarships.

Let me tell you my mistakes so you can avoid this feeling I have right now.

1) Watching a movie a studying

College is so much fun with there always being something to do. While attending a online college I never got the experience of hanging out with others and making friendships that will last through school. Even though I am having a blast, when it is study time I need to make sure to enclose myself in a quiet room when studying for a test.

Watching a movie and studying is not something that should be done together.

2) Cramming the night before

This is one of the most used methods for college students when doing homework, looking over notes, or cramming for a exam the next day. It has been proven that short frequent periods of studying is the best way to comprehend for college exams and tests while retaining the information after the exam.

A tip for you that need to be taken and used in college is too look over your notes an hour after your class for about 10 minutes or so depending how long it is. Do this and I can guarantee your next text will improve and the night before stress level will drop.

3) Just looking over notes

Looking over the notes you took in class is ok and might work for you but it has been proven that college students test better when they studied with flash/note cards, practice with others, and link notes with understandable meanings you can relate to better.

Well, I am note happy about my test but I know the next test will make up for this one so my college scholarship will not be in danger.

Take care and God Bless!

The Bursar's Office

2006-09-27T13:42:00.000-07:00

What is the bursar's office, and how can it help me?

By Carlin Carr

As you probably already know, college is an investment in your future. You will owe some amount of money to the school, and in return, they will provide you with thought-provoking courses and an invaluable experience that will enhance your career and life options.

Of course, there will be an office on campus designated to collecting your end of the bargain on this investment. The Bursar's Office has the responsibility of organizing your tuition account, sending out bills, and imposing late payment charges.

The Bursar's Office does not have to be so intimidating; as long as you are making your appropriate payments, you may only hear from them in your monthly statements. In fact, they can be quite helpful in setting up a payment plan, discussing various fees, and organizing your account.

Your account will usually include any tuition or housing costs not covered by your financial aid award, as well as some other smaller charges. Lab fees, student services fees, interest accrued on unpaid balances, meal plans, health insurance coverage, and late payment charges can all add up fast. Be sure to check with the Bursar's Office from the beginning to see what costs are not covered under tuition.

Organizing your account and making your monthly payments also plays a key role in registration. Most likely, you will not be able to register for next semester's classes if you have an outstanding balance. If you ever have an issue with making your payments, schedule a meeting with a representative from the Bursar's Office; they are friendly and supportive, and they can help you sort through your questions or concerns.

The moral of this story is that the Bursar's Office can be quite helpful in assuring that your money matters are worry-free.

Carlin Carr is a communications writer for Trinity College in Hartford, Connecticut, and recently worked as an admissions counselor at Post University. Carlin received her bachelor's degree in English from Mount Holyoke College and her master's degree in literature and publishing from the National University of Ireland, Galway (NUIG).

After graduating from NUIG,Carlinmoved toParma, Italy, to teach English before returning to the states.

What Is the Work-Study Program?

2006-09-27T13:39:00.000-07:00

Discover how work-study can benefit you

By Paula Andruss

As financial aid becomes a necessity for more and more students, many are looking toward the popular Federal Work-Study Program—a federally funded program that assists students in getting part-time jobs—to help them pay their school expenses.

Through this program, the government pays some or all of an eligible student's wages. In return, in addition to earning money for school, work-study students gain real-world work experience and make contacts with employers and others who may become references for future employment.

If you qualify for financial aid, you may be eligible for a work-study program. The total award depends on several factors, including the funding levels of the school and your level of financial need. You'll need to specifically request the program on your Federal Application for Student Aid, and to be considered, you must have a high school diploma or equivalent, must demonstrate financial need, and must be a U.S. citizen or eligible non-citizen.

Jobs may be located on or off campus, and the program will make an effort to match the type of work you are assigned to with your courses of study or other abilities, based on the personal information you provide on your application. On-campus jobs are usually working for the school itself in areas such as dining halls or administrative work. Off-campus work is usually completed with a public agency or nonprofit organization

Work-study students earn at least the federal minimum wage, though some make more if the job requires special skills. You can specify whether you want to be paid directly and use the money for your own expenses or have the money deposited directly into an account to pay for school expenses such as tuition or room and board.

Once you have been accepted into the program, you'll receive information about your prospective employer in a referral letter from your school's financial aid office. But you will still need to contact that employer and be accepted for the position. Then you can work out the specifics of the job, such as salary, hours, and any other obligations. And once work begins, don't forget to keep up on your classes as well: the work-study program requires students to maintain satisfactory academic progress in their courses throughout the year in order to keep the job.

Paula Andruss is a Cincinnati-based freelance writer whose work has appeared in publications including Parents, WomensWallStreet.com, Marketing News, Crain's Chicago Business, and Cincinnati magazine.

How am I Going to Pay for a College Education?

2006-09-27T12:55:00.000-07:00

Easing your fears about paying for college with helpful financial aid info

By Rose Rennekamp

For a lot of parents, the first question that comes to mind when their teenagers prepare to attend college is, “How am I going to pay for this?”

Let's face it—college is expensive! The good news: more than half of all college students receive financial aid. Unfortunately, the financial aid process isn't something most of us know much about until we have to dive right into it. Hopefully this column can help you understand what you're getting into before you sign on the dotted line.

College scholarships and grants are the best kind of financial aid. You don't have to pay those back. College scholarships and grants can either be “need-based,” given because of the financial situation of the student and her family, or “merit-based,” either a talent-based or academic college scholarship. Some scholarships are a blend of need and merit.

While college scholarships and grants may be what you're hoping for, there are never enough of those to go around. And, rising tuition could mean you will have to pay a larger share of the college costs.

Loans are a form of financial aid that you will have to pay back. Loans based on financial need often have lower interest rates and are subsidized by the federal government. Loans not based on need are generally not subsidized, and you will end up paying a higher interest rate. Make sure you understand all of the terms of any loans—the interest rate, the repayment schedule, and when repayment must begin—before you commit.

Work Study requires your student to work in order to receive money for school. Students typically work ten to 15 hours per week but no more than 20. Work study jobs are usually on campus, pay at least minimum wage, and can be related to your student's major. A woman I know majored in animal science in college on her way to becoming a veterinarian. She worked at the university's veterinary hospital as part of her work study program. Because of that connection, she had a leg up when applying to the vet school.

When you apply for need-based financial aid, be prepared to provide a lot of financial information. It's a little like filling out your income taxes, and you'll need many of the same records. The form usually required is called the FAFSA—the Department of Education's Free Application for Federal Student Aid. You want to fill it out as early as you can in order to get the best shot at financial aid because some aid is awarded on a “first come, first served” basis. You can find the FAFSA financial aid form on-line at www.fafsa.ed.gov.

The government uses the FAFSA financial aid form to formulate an “Expected Family Contribution”—the amount of money that your family is expected to pay for college expenses each year. I was more than a little shocked when I learned how much the government thought we should be able to pay toward our kids' college educations! You can get an idea of your “Expected Family Contribution” using the free financial aid need estimator at www.act.org/fane. Just keep in mind that colleges can have different ways of assessing need and awarding non-federal aid.

Financial aid is complex, confusing, and even frustrating. The good news is that it does get easier each time you do it. (Yes, you have to do it for each child and every year they are in college.) Just remember: start early, make sure that the information you provide is accurate, and meet every deadline. And, once you get those aid offers, compare them carefully. Most of all, be sure you read and understand everything before you sign anything!

Rose Rennekamp is the vice president of communications for ACT. She is a mom and has a master's of education in guidance and counseling. For more college and career-planning information, visit http://www.act.org/. E-mail Rose at AskRose@act.org.

The College D Word—Debt

2006-09-27T12:48:00.000-07:00

Avoid the plastic trap while you're in school

By Christina Couch

The most common four-letter word on every student's lips is D-E-B-T.

When the average college kid owes over $2,500 in credit card debt alone, it's easy to understand why the D word is a student's worst nightmare. To save yourself from financial turmoil, read up on these ways to avoid the plastic trap.

Tip #1: Approach With Caution

Contrary to popular belief, credit cards aren't all bad. Establishing good credit is an essential part of your financial future, so it's important to have a credit card and to use it only if you can immediately pay off the bill. Finding a card is easy. Finding a card that will offer you a reasonable annual percentage rate (APR) and minimal transaction fees is a bit more difficult. Creditcards.com will allow you to compare interest rates, fees, and user rewards for cards designed specifically for students.

Shop around with your parents (they're going to have to co-sign for you anyway), always read the fine print, and be on the lookout for cards with fraud protection to protect your bank account in case the card is lost or stolen.

Tip #2: Handle With Care

Overspending is the easiest way to turn an emergency-only financial cushion into an all-consuming vacuum of debt. To prevent yourself from excessive spending, pay cash when you can, charge only what you really need, and keep an accurate, up-to-date record of money spent.

By taking note of money coming in versus money going out, you can make sure that you're always within your monetary means. If the urge to impulse shop is just too much, ask your company to set a low credit limit on your card, therefore only giving you so much room to get in trouble.

Tip #3: Treat With Respect

Maintaining a good credit report is just as important as maintaining a car or good grades. In the working world, your credit report will serve as a report card of whether or not you've been financially studious.

Good students will be rewarded with the ability to finance cars, mortgages, or small businesses while bad students will be stuck with what little cash they have in their pockets. To earn an A in credit ed, always pay your bills on time and for the full amount unless, of course, you like paying compounded interest charges by the truckload.

Christina Couch is a freelance writer based in Richmond, Virginia and Paris, France. Her writing credentials include MSN/Encarta Online, CollegeBound Teen, and Studentscoop.com. She can be contacted at couchcs@gmail.com.

Picking the Best Financial Aid Package

2006-09-27T12:44:00.000-07:00

Search information to help figure out which package meets your needs

By Kimberly Hardy

Paying for college—the final frontier. It does not, however, have to be the most dreadful. After all, your college-bound students have already sent their applications and have already been accepted. The hard part is over! The fiscal issues surrounding college, however, can be stressful if you don't know what to look for.

Many colleges and universities are very helpful—and generous—when it comes to offering financial aid, but become a wise shopper before you accept just anything. Simply because a package may meet 100 percent of your need doesn't mean it's the best deal.

When searching for the right package, the key is to start looking early. Inquire about the types of financial aid offered by the school(s) your students have applied to. You should be interested in the aid the school can provide beyond federal loans, grants, and work-study jobs. You'll want to know if a school has scholarships and grants of its own. Also, search to find out how dedicated to meeting your financial needs a school is. For instance, Duke University in North Carolina is committed to meeting 100 percent of the students' financial need. If you find this out in advance, it may help you narrow down your choices in terms of where you'll consider applying for aid.

Another key is to look everywhere else. Thousands of sources of financial aid—Web sites, scholarship books, community organizations—exist. Did you know there is a scholarship for students who are left-handed? If you work for the United States Postal Service, your students may be eligible for an academic college scholarship from one of your unions. Are your students interested in studying women's literature at a liberal arts school in the Midwest? Money is out there for them. Consider all of the sources that exist: the Internet, the library, or your students' counselors are all great places to start.

A final key to fiscal success in college funding is to complete and return the FAFSA financial aid form as soon after January 1 (the earliest it can be submitted) as possible. You want to know what federal dollars your students will be eligible for as soon as possible because this will help you negotiate a good package with the school(s) they are interested in.

Now, let's suppose two schools have offered your students financial aid packages that meet 100 percent of your demonstrated need as determined by your Student Aid Report from the FAFSA. The single most important thing you'll want to consider is the amount of debt for which you and your students will be liable. Look at the chart below:

Both schools will meet your family's financial needs, but University 1 is offering $5,000 in student loans, which must be paid back with interest. Scholarship searching by you and your students may well have covered that expense in University 2.

University 1

$5,000—Federal loans
$1,200—Work-study
$2,000—Federal grant
$1,300—Scholarships (from school)
$9,500/year with debt

University 2

$5,000—Scholarship (other sources)
$1,200—Work-study
$2,000—Federal grant
$1,300—Scholarships (from school)
$9,500/year without debt

Reducing the amount of debt you and your students will have upon graduation is important. You don't want to burden them with thousands of dollars of debt right out of school. It may not be possible to avoid loans altogether, but you want to hunt for every free dollar you can early on to reduce the debt later.

If a school truly wants your college-bound students in its freshman class, it will work with you to find funding sources. It's never too early to start looking—a few hours spent performing scholarship and grant searches now can save you lots of cash and anxiety later.

Kimberly Hardy, M.S.W., is beginning the fourth year of her Ph.D. at The University of Chicago School of Social Service Administration.

FAFSA & College Financial Aid Facts

2006-09-27T12:43:00.000-07:00

Getting all of the aid for which you are eligible

By James Maroney

Many people believe that private scholarships are the panacea for their college-funding woes. While you may have heard that millions of dollars in academic college scholarships go unclaimed each year, that simply is not true. In reality, private scholarships provide only a small percentage of college funding.

The vast majority of financial aid and grants are provided by the federal and state government and by schools. The following information will help you get all of the need-based aid for which you are eligible.

Need-based aid is determined by considering the Estimated Family Contribution (EFC) and the total Cost of Attendance (COA). The COA should reflect tuition, fees, room and board, transportation, books, and personal expenses. Need-based aid is then calculated by subtracting the EFC from the COA. Colleges will offer financial aid packages that meet your needs to varying degrees.

The first step in filing for financial aid requires you to file the Free Application for Federal Student Aid (FAFSA), which is available in paper format in the high school guidance office or online at http://www.fafsa.ed.gov/. Filing the FAFSA for financial aid online has many advantages. First, the online form is processed in two weeks as opposed to four weeks for the paper form. Second, the online form will check your responses and will not let you submit the application with mistakes. If you have submitted the paper form with an error, it will be returned for corrections and will need to be resubmitted.

Finally, the online form automatically generates an estimate of your EFC.

It is extremely important that you file the FAFSA application before financial aid priority deadlines. Information from tax forms is necessary in order to complete the FAFSA.
The following analogy from a dean of admissions illustrates the importance of filing FAFSA early for college: Financial aid is like a pot of soup. The first couple of ladles are going to be full, but at the end you are going to be scraping the bottom of the pot for what is left. Make sure you are getting your full ladle.

In order for you to receive all of the financial aid money for which you are eligible, make sure you know the requirements of all of the schools to which you are applying. It's also important that you complete the forms as accurately as possible and that you file the applications before the priority deadline.

James Maroney is an educational consultant for First Choice College Placement http://www.firstchoicecollege.com/.

College Money Matters Checklist

2006-09-27T08:40:00.000-07:00

Making sure you have everything in order

With all of the financial information available, it's important to make sure your college-bound students run through one final checklist before they reach their final destination in the fall. They should keep copies of all paperwork and pay special attention to any deadlines in order to avoid unpleasant surprises when they arrive on campus.

Make sure they have done all of the following before they head off to college:

Paid housing deposit
Received Student Aid Report (SAR)
Accepted any college scholarships and found out if they have to reapply next year
Finalized details of their student loan, if applicable
Planned out a budget for the school year
Purchased a computer and any related equipment
Made sure all bank accounts are in order
Selected an account that does not charge ATM or monthly transaction fees
Taken care of any car maintenance
Purchased any necessary airline tickets
Sent completed section of promissory note to financial aid office
Put money aside for books, folders, pens, paper, calculators, and other miscellaneous school-related items
Paid registration fees that financial aid doesn't cover
Paid tuition deposit and finalized details of payment plan
Purchased all dorm room necessities (they should talk to their roommates first to see what items they will be bringing.)
Purchased long-distance phone plan or secure phone card
Purchased cell phone, if necessary
Applied for a credit card, if necessary

The Lowdown on Loans

2006-09-27T08:39:00.000-07:00

Know your financial obligations

By Crystal Conde

You've filled out the FAFSA, determined how much money your family should contribute to your education, and begun looking into financial aid options. If you're considering taking out a loan, be sure you know your financial obligations. Borrowing money carries with it a great responsibility. The following information, compiled from the Federal Student Aid Web site, will help you determine whether taking out a loan is right for you.

Once you've committed to taking out a loan, you'll be required to sign a promissory note. The promissory note is a written promise that you will pay, at a fixed or determinable future time, a sum of money to a specified bearer. In the case of student loans, the note will outline that you must repay the loan, except in cases of cancellation of the loan. Keep in mind that you have to pay off the loan even if you don't complete your education. You're taking a big step, so be sure you understand all the terms of the promissory note. Keep a copy of it in a secure place because you'll refer to the promissory note if any questions about your obligations arise.

The entity that will service your loan depends on the type of loan you have. When borrowing a Perkins Loan, the school that lends you the money or an agency employed by the school will service the loan. The Direct Loan Servicing Center will handle a Direct Loan, and your lender or its servicing agent will service a Federal Family Education Loan (FFEL).

Borrowing a Direct Stafford Loan or an FFEL will require you undergo entrance and exit counseling. You must participate in an entrance counseling session before you receive your first loan disbursement. You'll receive information about the importance of repaying your loan and the rights you possess as a borrower. In the exit session, you'll be presented with the available loan repayment options.

When you do begin repaying your loan, you must make the full payments (agreed to in the promissory note) on time. Partial or late payments may cause you to go into default, which could have serious financial repercussions. In addition, don't wait for a bill to come before you make a payment. You're required to remit payment regardless of whether a reminder arrives in the mail.

Crystal Conde, a 2001 graduate of the University of Missouri-Columbia School of Journalism, is senior editor at Hobsons in Cincinnati, Ohio. She is the lead content editor on all four editions of The Hobsons U.S. Education Guide.

Earn Smart, Save Smart

2006-09-27T08:37:00.000-07:00

Planning ahead to cover your expenses

by Christina Couch

It's called summer vacation, yet for students on a budget, it's anything but. While there may be a day here and there for a weekend beach trip, summer is the only time of year that you can work full-time and hopefully bank enough to keep you in the green for at least the first semester. Your financial future for the upcoming year hinges on how well you maximize profits and minimize expense. Take a minute to review your business vocab, and you'll be one step closer to a fat wallet and a semester free of financial stress.

Gross Income: Your Total Earnings

You want this number to be high…very high. To do that, choose a job or internship that pays well, and set it up early before you have to compete against every other college kid on break. Your company may offer a tuition reimbursement or subsidy plan that would put just a few more bucks in your pocket. Consider taking a second job (it's only for the summer), selling some things you don't need on eBay, or picking up a few odd jobs in your spare time. Remember that you'll probably get back any taxes taken out, sending another much-needed check your way in spring.

Net Income: Your Gross Income Minus Expenses

The first thing to do is define “expenses.” What are you willing to spend money on this summer? Creating a weekly budget can help prevent you from blowing your check on unnecessary expenses. Plastic counts too, so before you say “charge it,” think of that gruesome bill at the end of the month. If possible, have your employer deposit your earnings directly into your account. The less cash there is burning a hole in your pocket, the less likely it'll be gone before your next payday.

Investment Return: How Your Money is Working for You

When cash sits in a savings account instead of a box under your bed, it draws interest without you having to lift a finger. If you can clear the minimum balance requirement, invest in a money market account to get the best return interest rate. Students interested in longer term, higher profit investment options should consider savings bonds (typically bought at half the value they return) or mutual funds. Though your cash will be tied up for months, if not years, you'll be rolling in dough when time's up.

Christina Couch is a freelance writer based in Richmond, Virginia, and Paris, France. Her writing credentials include MSN/Encarta Online, CollegeBound Teen, and Studentscoop.com. She can be contacted at couchcs@gmail.com.

College Education on Loan

2006-09-27T08:35:00.000-07:00

Consider some of the primary sources of loans available for students and families

By Jennifer Liedtka

No doubt about it, the cost of college can be a big one. Four-year, two-year, public, private, trade—regardless of the type of higher education institution your students decide to attend, a price tag will be tied to the experience.

How will you pay for it? Is financial aid in your family's future? Often, when people refer to financial aid they think only of free money. While students benefit from many types of scholarships and grants, it is important to realize that an even greater amount of assistance is available in the form of education loans. It's true this type of aid is not free—at some point repayment will be required. The terms of many of the programs, however, are quite favorable. Responsible borrowing for education is a great investment.

Consider some of the primary sources of loans available for families.

Stafford Loans are the most common types of student loans from which every student may benefit—regardless of family income. Based on the need of the student, the institution will determine if the loan will be subsidized (interest-free while the student is enrolled) or unsubsidized (interest assessed while the student is enrolled). Regardless, a dependent student may borrow up to $2,625 as a freshman, $3,500 as a sophomore, and $5,500 during the junior and senior years. While the annual amounts may not seem like much compared to the cost of many institutions, the relatively low interest rates and favorable repayment terms make this a good place to start borrowing and an ideal way for traditional students to begin establishing credit.

Perkins Loans have a fixed interest rate of five percent and deferred repayment of principal and interest until nine months after graduation. These loans come with some of the best terms available and offer a good way for students to borrow.

What happens if financial aid (including the above loans) does not cover your students' total costs? If your family is not in a position to make this payment, a PLUS Loan for credit-worthy parents of dependent students is an option. With a variable interest rate capped at nine percent, you may take advantage of this federal program to borrow all or any part of your out-of-pocket expenses that remain after aid is deducted from the bill.

If you aren't in a position to borrow or you feel that it is the responsibility of your child to do so, a private alternative student loan might be an option. Many loans with a variety of terms exist in this category. Traditional students often need a credit-worthy cosigner in order to borrow a private education loan, and they may typically borrow all or any part of the funds needed to cover their bill.

Regardless of the borrowing needs of your family, it is important to talk with your institution about loan processing procedures and the particular programs and lenders most commonly used there.

Jennifer Liedtka is the director of financial aid at Lebanon Valley College in Annville, Pennsylvania.

Understanding College Financial Aid & Grant Packages

2006-09-27T08:33:00.000-07:00

Outlining the types and amount of financial assistance that you receive

By Paula Andruss

As the costs of college continue to rise, borrowing money for your education has become one of the best investments you can make. That's why college financial aid is so important, whether it comes in the form of grants, scholarship money, work-study, or loans. While applying for financial aid can be a lengthy process, results are well worth it in the end.

About three to six weeks after you submit your Free Application for Federal Student Aid (FAFSA) to obtain financial aid, you should receive a Student Aid Report (SAR) from the government. Check over this report carefully to make sure the information from your FAFSA is correct and that it is being sent to the schools to which you have applied. It's also a good idea to get in touch with the school or schools that should have received your SAR to make sure that they did in fact receive it.

The SAR will list your Expected Family Contribution (EFC)—a dollar amount calculated from a standard formula by the government that indicates how much your family should be able to contribute to your educational expenses. This number is critical to your financial aid package because it determines your financial need, or how much financial aid you are eligible to receive. In general, your financial need is calculated by subtracting your EFC from the total cost of attending each individual school.

Once the paperwork is complete, each college's financial aid office will put together a financial aid package comprised of federal and non-federal aid such as loans, grants, scholarship money, or a work-study program to help meet your needs.

It's difficult to estimate exactly how much financial aid you will receive because educational costs vary from school to school, and different colleges participate in different financial aid programs and have varying amounts of grant money to award. But each school's financial aid office will do its best to make up the gap between your EFC and the cost of attending that school.

When the process is complete, you will receive financial aid award letters from your schools of interest. Each will outline the types and amount of financial assistance that school is offering for that year. When you receive the award letters, be sure to compare the aid packages offered by the different schools; even though one school may appear less expensive, it may not contain the best deal for you.

Paula Andruss is a Cincinnati-based freelance writer whose work has appeared in publications including Parents, WomensWallStreet.com, Marketing News, Crain's Chicago Business, and Cincinnati magazine.

Avoiding College Scholarship Scams

2006-09-27T08:22:00.000-07:00

Protecting yourself and your money

By Deborah Hardy

“CONGRATULATIONS! You have won a $10,000 scholarship for college. To obtain your award, please forward a $100 processing fee to…”

Usually, most parents and college-bound students would not go beyond those first words. Eventually, students and parents come to realize that it was only a scam. Instead of winning, they have lost.

How can you determine which scholarships are legitimate? To avoid being the victim of a scholarship scam, set up guidelines to identify which scholarships might be of concern. Here are some warning signs to look for:

Processing Fees

Scholarships that require a processing fee should raise a red flag. Some scholarships add a disclosure statement that guarantees the winnings and states that students will be eligible for a refund. These are additional scam slogans to ensure that college-bound students will be comfortable as consumers. In reality, the money never returns.

Rewards without Entries

For most students, writing another college admission essay after all of the college process is tedious. When an award is given without the student having to submit a college scholarship application, it is quite surprising. Beware the awards without entries.

Guaranteed Scholarships

In the world of financial assistance, there is never any guarantee. Guaranteed college scholarships never materialize.

Free Seminar

This on-the-spot scam lures parents and students by sending letters that ask them to attend a seminar in which the organization will present attractive materials that guarantee students will qualify for college scholarship money. A fee is charged or may be deducted from your bank account. Your students receive a package with a few scholarships listed. Often, other sources, such as the school counselor or a credible database, will have information on the scholarships presented.

Now that you know how to spot scams, how can you protect your students from these scams? For starters, never pay a fee. A scholarship is a gift from a given group. Why should anyone have to pay to process a college scholarship application or to receive an award? Also, if it sounds great, beware.

Get more information about the organization. Call the Better Business Bureau or visit the Web site at www.bbb.org. When dealing with scholarship organizations, be savvy and determine whether a group's name seems to masquerade as a federal organization or a charitable program.

Many scholarship databases provide accurate and reliable sources. Ask your students' school counselor before your students apply. Getting the right information can earn you the biggest reward of all.

Deborah Hardy is director of guidance at Irvington High School in New York.
Register now to be entered into the drawing for a $20,000 college scholarship sponsored by CollegeView!

Purchasing Power on College Campus

2006-09-27T08:20:00.000-07:00

Beware of the credit card trap

By Crystal Conde

Credit card companies bombard students with card offers on many college campuses. To persuade you to apply for a card, company representatives may hand out T-shirts, key chains, coffee mugs, and other products. You may want to have a card for emergencies and for establishing a healthy credit history.

Be careful: some of the cards have high interest rates and limited credit lines. You should understand that credit cards, when used properly, are an effective means for building a good credit history. But when used carelessly and irresponsibly, credit cards may do more harm than good—you may find you're in debt and the victim of a bad credit report for years following graduation.

With credit cards so easy for college students to obtain, you may be wondering why companies view them as appealing card holders. The answer is loyalty. Credit card companies know that students tend to use their first credit card long after graduation. Evidence of the desire to gain college students' business can be found online. Visa, MasterCard, and American Express have information and online applications tailored just for students.

If you've decided a credit card is necessary, set up some guidelines and ground rules. Make the decision to pay monthly statements on time and in full. Determine the credit card's function: is it for emergencies only or for school supplies and books?

Set a foundation for credit card usage to avoid frivolous purchases. Also, figure out a budget. Put your monthly expenses on paper, and estimate how much you can afford to pay on a credit card.

Your parents may be able to provide the best example for teaching you about managing credit cards. Sit down with them and examine a credit card statement. Your parents can explain what particular terms mean—finance charge, minimum payment, credit limit, cash advance. Your parents can impart some of their credit card wisdom and can teach you to use a credit card properly when you begin college.

When it comes to applying for a credit card, be selective. To stay debt-free, shop for a card that offers the following:

low interest rates or finance charges
low or no annual fees
a grace period for posting finance charges
other benefits such as warranties, free gas, airline miles

Crystal Conde, a 2001 graduate of the University of Missouri-Columbia School of Journalism, is senior editor at Hobsons in Cincinnati, Ohio. She is the lead content editor on all four editions of The Hobsons U.S. Education Guide.

Help with College Financial Aid

2006-09-27T08:18:00.000-07:00

Understanding aid options and knowing where to get help

By Ann Bezbatchenko

Financing your education can be an overwhelming task. To make the most of available funding, it is important to understand the different types of aid as well as to realize that your financial aid office is available to help you.

There are two primary types of aid: federal financial aid (based on need) and scholarships (university and outside awards). To apply for federal financial aid, you must complete and submit the Free Application for Federal Student Aid or FAFSA.

You can complete the FAFSA online at http://www.fafsa.ed.gov/. From the information submitted, the U.S. Department of Education determines how much aid you should receive and notifies your school. The National Association of Student Financial Aid Administrators also has a Web site which has helpful resources for students and parents.

Your university will send you information about your federal aid as well as any scholarships you received. (You may have to complete specific forms for various scholarships. Check with your university admissions office about applications.) If you have been awarded a scholarship through an outside source, you should notify your financial aid office immediately so that your financial aid package can be adjusted.

Most universities assign a general counselor, depending on the size of the school, to certain populations. For instance, there may be a counselor for first-year students, several for returning students, and one for graduate students. If you need to meet with your financial aid officer about your award package or issues with your financial aid, you should contact them directly. It will be important to bring any information you may have about your federal financial aid and scholarship awards.

After graduating from the University of Dayton in 2000, Ann Bezbatchenko worked as an editor for SRA/McGraw-Hill Companies. She returned to school to obtain a master's degree from The Catholic University of America, where she worked as the Assistant Director of Graduate Admissions for CUA. Ann currently works at Loyola University Chicago's Graduate School of Business as the Director of Admissions

Do Some Digging to Get College Financial Aid

2006-09-27T08:15:00.000-07:00

Find out about financial aid and the conditions that accompany it

By Rose Rennekamp

A few years ago my daughter graduated from high school and entered college with a full-ride academic scholarship in engineering. We were thrilled. But after experiencing the world of college engineering, she changed her mind—and her major. She also lost her scholarship.

While I don't recommend that students stick with a course of study they don't like just to keep their financial aid, I do recommend that students and parents find out as much as they can about financial aid and the conditions that accompany the aid they do receive.

Every family's financial aid situation is different depending on family assets, student assets, how many family members will be attending college, tax decisions the federal government makes, state funding programs, and specific college funding opportunities. Yes, you'll need to do some legwork, but I'll get you started with some ideas and resources.

First, the good news. The U.S. Department of Education reports that while the price of higher education is going up, so is the amount of financial aid you can get.

One necessary and important step is to fill out the Free Application for Federal Student Aid, or the FAFSA, as it's better known. The FAFSA determines your child's eligibility for student financial aid from federal programs. A copy can be obtained from your high school counselor, college financial aid office, or you can file online at www.fafsa.ed.gov.

Colleges and universities also use the FAFSA information, though some may require you to fill out additional forms.

You can submit the FAFSA beginning January 1 for the upcoming school year. Fill it out as soon as possible and be sure your information is accurate. If you wait too late in the year, the money may have already been awarded to other students. Make sure you meet the deadlines because there is absolutely, positively no flexibility.

Financial aid sources are basically scholarships and grants, loans, and work opportunities for the student on campus, commonly called work-study. The financial aid package—a blend of these aid sources—is determined by the college to which your child applies. It's important to understand and follow the college's directions regarding the aid.

Scholarships are based on merit or need. Merit scholarships can be awarded for athletic or academic abilities, but also for categories such as club membership, interests, ethnicity, talent (e.g. art, music, dance), or career plans. Many companies provide scholarships to children of employees as well. Need-based awards are given by colleges and the federal government based on financial aid information the family provides.

You hear a lot about scholarships: thousands of dollars go unclaimed or a student is paying his or her way through four years of college entirely on scholarships the student found and applied for. Both of these examples misrepresent what happens in most cases. Apply for scholarships, but don't overestimate the role that scholarships will play in financing a college education. Many of the scholarships are smaller—it takes a lot of them to add up.

You may also receive offers to find scholarship information for a fee, but you never need to pay for that information or pay to apply for a scholarship. The Federal Trade Commission says warning signs include:

having to provide credit card information
a scholarship guarantee “or your money back”
a claim that you can't get the information anywhere else
that your student is a finalist in a contest he or she never entered

Your high school counselor will have binders full of scholarship information and a number of Web sites put thousands of scholarships at your fingertips. One, http://www.collegenet.com/, provides a scholarship search of more than 600,000 awards totaling more than $1.6 billion in aid.
If you will rely on student loans, you'll have a lot of company. Make sure you and your child understand the loan programs.

Federal Stafford loans (to the student) require payment to begin six months after the student leaves school. The parent PLUS loans require payment soon after the funds are delivered. For more information and current rates, check the Department of Education Web site at www.finaid.org.

Check with your high school counselor or college financial aid office about special programs. In some states, for example, students entering job areas of great need—such as teaching in low-income areas—qualify for financial aid or forgivable loans.

As you search for financial aid, don't rule anything out. Don't assume that you are ineligible for aid or that a college will be too expensive. Do the paperwork, apply to the colleges, and see what offers come in. Then make your decisions.

Rose Rennekamp is the vice president of communications for ACT. She is a mom and has a master's of education in guidance and counseling. For more college and career-planning information, visit http://www.act.org/. Send an e-mail to Rose at AskRose@act.org.

"I can't afford college" and Other Financial Aid & Grant Myths

2006-09-27T08:11:00.000-07:00

Find the truth behind five top financial aid myths

By Rose Rennekamp

College application season is in full swing. Parents and college-bound students are filling out forms, editing college admission essays, and checking their bank accounts. Students worry about getting a rejection letter, but some parents may worry more about what they will do once their son or daughter is actually accepted.

There's a lot of information out there—both good and bad—about paying for college. I want to clarify a few of the less-than-true statements you may have heard.

Myth #1: You can't afford college, or you can't afford the college of your dreams.
Many students and parents see the tuition price, cost of college dorm life, and the price of textbooks and say there is just no way they could ever afford it.

Let's face it—college is expensive! It's the largest single investment many families ever make. However, two out of three students get at least some financial aid to help make college more affordable. College-bound students can receive a combination of grants, loans, scholarships, or work-study jobs to help reduce the cost of college. So don't ignore a college just because of its “sticker price.”

If a college has higher tuition, students often can get more financial aid to help cover the extra cost. For example, parents with incomes below $40,000 aren't expected to contribute to the cost of their child's education at Harvard.

Myth #2: You have to be very poor, very smart, or uncommonly talented to qualify for financial aid.

Financial aid comes in many forms—grants and scholarships, which you don't have to repay, and loans, which you do have to repay. There is need-based aid for students who come from lower income families, and merit-based aid for students who excel in athletics, drama, debate, instrumental music, community service, and many other areas. You will find financial aid and grants from a number of sources: the federal government, state government, the college or university itself, a parent's employer, and many other organizations.

When students take the time to discover all of the possibilities, they can be surprised at what offers for aid they may receive. One good source for information is www.ed.gov/finaid.html, where you can get The Student Guide: Financial Aid. The guide is also available in print at many public libraries and schools or by calling 1-800-433-3243.

Myth #3: You can get more free college scholarships by paying someone to search for you.
Scholarship scams are everywhere. Beware of any group or individual that guarantees a scholarship if you pay a fee. In 2003, the Federal Trade Commission found 12 of 53 Web sites marketing scholarships had what it called “dubious claims.” There are many very good, FREE scholarship sources—check out www.fastweb.com or www.finaid.org.

Myth #4: My child will pay for college herself, so it doesn't matter how much money I make.
Most need-based financial aid is based on parents' income and assets. Most schools require students to fill out the FAFSA, the Free Application for Federal Student Aid, in order to qualify for financial aid.

That form asks for income information similar to what you need for your income taxes. You can find it by logging on to www.fafsa.ed.gov. After submitting the FAFSA, students receive a report that shows how much the government expects you to pay towards your child's education.

If you're not ready to actually file the FAFSA for financial aid yet, you can get an estimate of your expected family contribution by going to www.act.org/fane/.

Myth #5: You can wait until you get accepted to a college before worrying about financial aid and grants.

Most financial aid is doled out on a first-come, first-served basis. Since most students will search for some type of financial aid, you shouldn't wait too long to get started. Looking for financial aid is probably not the way that most teenagers want to spend their free time. But a little work now can go a long way in paying for an education tomorrow.

Rose Rennekamp is the vice president of communications for ACT. She is a mom and has a master's of education in guidance and counseling. For more college and career-planning information, visit www.act.org. E-mail Rose at AskRose@act.org.