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Has the recession had a negative impact on families' view of college? Record college enrollment in 2009 suggests no, and a new survey of parents backs that up, as well. Oppenheimer Funds conducted a survey asking parents of pre-college-age children whether they view college as important for their kids and how they plan to pay for school and recently shared the results in The Chronicle of Higher Education. The survey focused especially on saving for college-not surprising, since Oppenheimer Funds is heavily involved in college savings plans.  The more than 1,000 parents overwhelmingly responded that they view attending college as a must for their children. Eight out of ten say it's very important for their children to earn a college degree, despite barely half of respondents saying their own parents wanted the same for them. An even larger proportion, 90 percent, stated the belief that sending their children to college was an essential part of the "American dream." Hispanic families had an even more positive response, with 95 percent regarding college as essential for their children's success.  Most families still believe that college is within reach for students who want to attend, even after the effects of skyrocketing college costs and the economic downturn. However, more than half believe that it's less accessible than it used to be, and nearly two-thirds expressed concerns about the pace of tuition increases eventually pricing out many families.  In the meantime, the parents surveyed planned largely to pay tuition themselves, often with the aid of scholarship money. While over 60 percent had less than $10,000 tucked into a 529 plan or similar college savings account at the time, 80 percent of parents said they hoped to cover at least half of their children's college costs. Parents also overwhelmingly wanted to avoid debt for their children, with half hoping their kids could take out less than $10,000 in student loans.

But college savings accounts took a sharp downward turn in the recession and while private loan borrowing is down, overall student loan debt has largely been on the rise (the average amount borrowed by college graduates currently sits at over $20,000). Given this, parents of high school students, as well as the students themselves, may want to focus their efforts on finding scholarships. Our free college scholarship search can help-parents or students can complete a profile to learn about scholarship opportunities they can apply for early or late in high school.


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Study Lists Best Returns on Investments

MIT Provides Best Bang for Your Buck

June 30, 2010

by Agnes Jasinski

You’ve seen lists ranking the “greenest” colleges, those who are the most neighborly, and the schools most concerned about the social good. The latest list released this week from PayScale Inc. ranks colleges based on their Return on Investment (ROI), a calculation they came up with by considering the cost of college against the estimated median salary of a graduate from a particular school, 30 years down the line.

The Massachusetts Institute of Technology (MIT) topped the list of schools that will give you the best return on your money, based on PayScale’s calculations. According to the ranking, you’ll get about a 12.6 percent return on your investment at MIT, or nearly $1.7 million over 30 years. In second place was the California Institute of Technology, with Harvard University coming in third. Private colleges dominated the list, with the first public university, the University of California-Berkeley, not appearing until number 16. The worst deal seemed to be public out-of-state colleges where students must pay higher tuition rates than those attending colleges in their home states. Attending a public college on in-state tuition would then be a pretty good deal.

The Chronicle of Higher Education took the list with a grain of salt, describing the limitations of the ranking. The ranking did not consider the fact that few students actually pay the sticker price of college, with a majority receiving some kind scholarship or grant support. The report also only considered those who would graduate to receive paid salaries or hourly wages, leaving out students who may be doing quite well for themselves as architects or entrepreneurs, two project-based career paths. Finally, the data used to rank the schools was limited in itself, as the information was self-reported and did not include every school.

Still, it isn’t surprising that technology schools topped the rankings this time around. Engineering degrees in particular are consistently ranked among the top 10 highest-paying college majors. Don’t be discouraged if your intended college isn’t on this list or any list, though, or if your intended major isn’t going to lead to the big bucks. Your interest in a school, program, and field of study should be considered above all else. And if you’re new to the process of narrowing down your list of college options, browse through the resources we have on choosing the right school. It’s never too early to start researching!


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Financial Aid Applications Increase for 2011-2012

National Need Mirrored in the Buckeye State

April 26, 2011

Financial Aid Applications Increase

by Alexis Mattera

If you are attending college, you probably need some form of financial aid to pay for tuition, room and board, books and other living expenses. Next year, it’s likely you’ll need a little bit more.

The Columbus Dispatch recently reported the number of students in the U.S. who have filed forms for federal financial aid for the 2011-2012 academic year has increased by about 1 million from last year. At Ohio State alone, requests are up about 10,600 from two years ago - a 22-percent jump, says financial aid director Diane Stemper. Ohio University’s Sondra Williams reports a similar trend with a 12-percent increase in federal financial aid applications. The reasons for the increased need aren’t surprising. "Many people who used to have the resources to send their children to college have lost their jobs or been downsized," Stemper said, adding lower home and stock values and rising food and gas prices are also culprits.

Though more students are getting the aid they require – OSU has seen an increase in Pell Grant recipients enrolled and OU has more students receiving subsidized loans – the financial relief may be short-lived: Governor John Kasich’s state budget proposal has public universities in Ohio could increasing tuition by up to 3.5 percent. Current undergraduate and graduate students, do you need more financial aid now than you did when you first enrolled? High schoolers and incoming freshman, how do you plan to pay for school?


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Food-bot Keeps Stomachs and Wallets Full

Carnegie Mellon Grad’s Program a Hit with Budget-Conscious College Students

April 29, 2011

Food-bot Keeps Stomachs and Wallets Full

by Alexis Mattera

The academic year is winding down at many colleges and so are many students’ meal plans and bank account balances. Instead of reaching for the ramen noodles (AGAIN), grab your computer instead. That’s what Greg Woloschyn did last year and it paid off: He created Food-bot and didn’t pay for food for five months.

The then-senior and computer science major at Carnegie Mellon grew tired of scouring his campus for free dining options so he created an email account that screened messages from every mailing list on campus for food-related terms. Once that method proved successful, Woloschyn spent his winter break writing a more advanced computer program called Food-bot which used the information to populate a food calendar online. His findings weren’t just doughnuts or pizza either: Woloschyn trained the program to rate the food mentioned in event listings (for example, steak earned a 10) and assigned “awkwardness” ratings for no-cost noshies at ethnic or religious-affiliated events.

One year later, Woloschyn’s plate is pretty full: He’s expanded Food-bot beyond Carnegie Mellon to serve empty-pocketed students at Berkeley, the University of Maryland at College Park, Duke, Case Western and MIT and has plans to develop mobile applications for Android phones and iPhones this summer when he’s not at work as a software engineer for Qualcomm. If you’ve tried Food-bot, has it kept your belly and wallet satisfied?


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 Mork Family Donates $110 Million to USC

by Suada Kolovic

The University of Southern California has secured a major donation – the fourth of more than $50 million given to the university this school year alone – from Julie and John Mork. The couple donated $110 million to USC to fund the Mork Family Scholars Program, which will provide high school seniors “of extraordinary intellectual talent and capability full tuition and $5,000 living stipends,” the university said in a statement.

John Mork, a trustee who graduated from USC in 1970, is the chief executive officer of Energy Corp. of America, a private company that handles the exploration, extraction, production and transportation of natural gas and oil, based in Denver. “Attending USC is the dream of talented high school seniors from all walks of life,” said John Mork. “We hope this gift will help transform hundreds of young lives.” Julie Mork, who graduated from UCLA, is the managing director of the Energy Corp. of America Foundation, a charitable organization that focuses on children and education. According to the LA Times, about 100 undergraduates will benefit from the scholarships each year.

Now while this is the single largest donation in the university’s history for undergraduate scholarships, it isn’t the Morks first philanthropic gift to the school. In 2005, the family contributed $15 million to the USC Viterbi School of Engineering that resulted in the naming of the Department of Chemical Engineering and Materials Science after the Mork family. And this time around, to show their appreciation, USC will place a plaque with the names and images of the Mork family at Bovard Auditorium.


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Scholarships.com Virtual Intern Kara Coleman

by Kara Coleman

Hi! My name is Kara and I’m really excited about being one of the newest Scholarships.com virtual interns!

I have spent the past couple of years studying at Gadsden State Community College. I live at home with my parents and commute to school and work every day. I attend Gadsden State because it is affordable, close to my home and workplace and I don’t have to pay room and board expenses. I plan to transfer to Jacksonville State University for many of the same reasons: JSU offers everything involved in a “normal” college experience, like clubs and football games, but I can choose what to participate in while still meeting the demands of my work schedule and being able to watch my little brothers’ soccer games.

Ever since I could hold a pencil, I have loved to write. My dream has always been to write a New York Times bestseller but until that happens, I would like to have a job that involves writing. When I enrolled at Gadsden State, I declared myself as an English major. I took every literature class that Gadsden State had to offer and I even spent the past year tutoring English. At JSU, I intend to major in communications, with concentration in print journalism. I think that writing for a newspaper will give me a consistent day job while I write books on the side.

When I received the email stating that Scholarships.com was looking for virtual interns, I immediately began composing my writing sample. This opportunity will allow me to do what I love, add some bylines to my portfolio, and (hopefully!) give me some more exposure as a writer. I look forward to sharing my transfer experience and helpful hints with anyone who visits the site over the coming months. “Talk” to all of you soon!


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Scholarships.com Virtual Intern Angela Andaloro

by Angela Andaloro

Although students quickly adopt the Dollar Menu lifestyle that pricey college living sentences them to, they are always looking for ways to make few extra bucks and live a little more comfortably. Many students totally rule out the idea of working for free because of this but what they don’t realize is they are missing out on great opportunities! Here are some reasons why unpaid internships are actually well worth your time:

  • It’s great experience. Interning in the industry you’re interested in working in after college will provide you with invaluable skills – skills that can give you an edge when going for your first job. You’ll also get a first-hand idea of what a job in the industry of your choice is like; you may realize it’s not for you after all.
  • It allows you to network. As an intern, you'll meet tons of new people, from other interns to CEOs. The connections you make here are important, as these are the first people who are getting to know you in a professional setting. Down the line, one of these connections may be able to clue you in on a job opening or serve as a professional reference.
  • It shows dedication. By taking an unpaid internship, you’re showing an employer that money isn’t your top priority. Dedication to the work rather than the benefits may give you a better chance at getting your foot in the door after graduation.

The most important thing to remember about any internship is that it’s your first step into the professional world. Making a positive impression is vital and there’s no better way to do so than by giving 100 percent every minute you’re on the job. A paycheck may not be on the line but your reputation is!

Angela Andaloro is a rising junior at Pace University’s New York City campus, where she is double majoring in communication studies and English. Like most things in New York City, her life and college experience is far from typical – she commutes to school from her home in Flushing and took nearly a semester’s worth of classes online – but she still likes to hang out with friends, go to parties and feed her social networking addiction like your “average” college student.


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Scholarships.com Virtual Intern Jacquelene Bennett

by Jacquelene Bennett

It’s that time of the year again – summertime...and moving time for many college students. Here are a few simple tips for moving out of your doom or apartment:

  • Donate your stuff rather than throw it away. It’s the end of the year and you are realizing how much stuff you have accumulated over the last nine months. Rather than throwing away those jeans that don’t fit or that lamp you never use, donate them. At the end of every school year, Goodwill sets up a donation center on my campus where they will take everything from used clothing to electronics. See if your school does the same!
  • Utilize your school’s on-campus storage spaces. If your residence hall offers temporary summer storage for students, take advantage of it! Space is usually limited but this is a great option for storing things that you won't need during the summer months (think: mini-fridge and cooking utensils). If your school doesn’t have storage on campus, get some friends to split the cost of renting a storage locker somewhere near campus. Bonus: Many facilities offer discounts to college students.
  • Make sure to clean. It might be a hassle to vacuum the floors and take out the trash but it will cost you less in the long run. Schools often charge fees for unclean rooms (at my school, it’s $25 for every bag they fill with trash from a room) so if you don’t want to be billed, make sure it’s clean!
  • Keep it organized. Don’t just throw items in random boxes and suitcases; take the time to label them and make sure everything is secure. This will help when physically moving all your stuff and when you unpack later on at home.

Jacquelene Bennett is a rising senior at the University of Redlands where her areas of study are creative writing, government and religious studies. When she is not studying or working, you can usually find her eating frozen yogurt or blogging about her day. She has a cactus named Kat and believes that Stephen Colbert is a genius. Jacquelene works hard, laughs hard and knows that one day you’ll see her name in lights.


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Scholarships.com Virtual Intern Lisa Lowdermilk

by Lisa Lowdermilk. Scholarships.com Virtual Intern

For many students fresh out of high school, the idea of going to a community college is not appealing. After all, one of the most exciting aspects of attending college is living on campus away from home, right? Well, living on campus may not be all it's cracked up to be.

Although few people would argue that universities' clubs, fraternities and parties are superior to anything offered at a community college, the stress of being away from home for the first time, learning to live with one or more roommates and being forced to make new friends can be quite an adjustment. Community colleges help students ease into the transition between high school and college more gradually.

Then there’s the cost: Tuition at a community college per year costs $2,713 per year, whereas four-year universities cost $7,605 per year on average. This second figure assumes you're living in-state but if you're living out-of-state, expect to be set back about $11,990 your first year. If cost is the major deciding factor, your decision is easy: Go to a community college for your first two years, then transfer. With all the extra money you're saving, you can throw your own parties, buy that new car you've been wanting or just save up for when you do go to a university.

Even if you're not going to your dream school for your first two years, you'll still have the opportunity to experience campus life after you get your associate degree at a community college. And who knows? Maybe you'll even find out community colleges aren't as bad as they're made out to be!

Lisa Lowdermilk is a soon-to-be published author, an avid video gamer and an artist. Her first novel is a murder mystery for young adults set in the future. She enjoys watching thrillers, trying different restaurants and attempting to breakdance. Lisa completed her Associate of Arts degree entirely online and is now majoring in professional writing at the University of Colorado Denver.


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Thiel Fellowship Encourages Students to Leave School, Develop Ideas

by Alexis Mattera

Here at Scholarships.com, all of our resources are geared toward helping students prepare for and afford college educations...not leave them behind. That being said, this new award probably won’t be popping up in our database any time soon.

Peter Thiel, the co-founder of PayPal and the first outside investor in Facebook, announced the inaugural recipients of the Thiel Fellowship, a program that will bestow 24 students with $100,000 each to not attend college for two years and develop business ideas instead. The driving force behind the fellowship is Thiel’s concern about the “irrational” increase in cost and demand for college educations and his belief that certain students would learn more by leaving school than continuing traditional coursework.

Not surprisingly, heated debates have erupted in academic circles – William K. Aulet, managing director at MIT's Entrepreneurship Center, believes the fellowship is sending the wrong message, stating, "To say that you're better off dropping out of school is a gross generalization." – but the fellowship winners have a different outlook: At least two recipients have expressed interest in returning to school at the end of the fellowship and one prospective winner turned down the deal entirely to enroll at MIT, which signals traditional education is still valued.

What do you think about the Thiel Fellowship? Would you be more than willing to apply and leave school if selected or would you prefer to continue your education in the classroom instead?


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