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by Radha Jhatakia, Scholarships.com Virtual Intern

For those of us who cannot afford large out-of-pocket expenses for college, financial aid is our only option. Many, if not all, universities require their students to fill out the Free Application for Federal Student Aid – aka the FAFSA – which uses your family’s finances and taxes in order to best determine how much aid you get. It can be confusing but it is definitely worth your time to file the application.

Depending on the state of the school you attend and live in, the FAFSA has different deadlines. States offer different grants and scholarships as long as you qualify and apply by the stated deadline and private schools also have different deadlines for private funding which can be found on their websites. The dates for states can all be found on the print out form on the FAFSA’s website. Remember to use this official government website – other sites charge fees.

The FAFSA requires you to have a federal PIN number. To apply for one, request one from the FAFSA website. (Make sure to do this even if you don’t have your tax returns, as the PIN number sometimes takes some time to receive.) Also, a new procedure that the FAFSA has is the IRS data retrieval tool, which takes the tax information directly from the IRS database and filters it into the FAFSA. This option not only makes life easier for those filing the FAFSA but it helps college financial aid offices, as they won’t require you to turn in additional documents to verify if the information is correct.

Always try to have yours and your parents' tax returns completed as soon as possible to have your FAFSA completed on time; however, since required documents like W-2s and other federal papers often aren’t available when you need them, file the FAFSA and select the option “Will File” rather than “Already Completed” for the question asking if you have already filed the tax returns. Use the tax information from the previous year so that you can have it completed by the deadline and once your tax returns are complete, go back into the FAFSA and use the “Make Corrections” option to update the information.

Happy filing, everyone!

Radha Jhatakia is a communications major at San Jose State University. She's a transfer student who had some ups and downs in school and many obstacles to face; these challenges – plus support from family, friends and cat – have only made Radha stronger and have given her the experience to help others with the same issues. In her spare time, she enjoys writing, reading, cooking, sewing and designing. A social butterfly, Radha hopes to work in public relations and marketing upon graduation.

Did you have to take out student loans in order to pay for all or part of your college education? Probably, as total student loan debt passed total credit card debt for the first time and is approaching the $1 trillion mark, but the bigger problem could be that college students who truly need to borrow are not doing so.

In a new analysis of student debt published in AEA’s Journal of Economic Perspectives, researchers Christopher Avery and Sarah Turner explain that overemphasis in news coverage of students drowning in debt is scaring people away from taking on healthy debt. They say that capital investment one takes on with a student loan is growing – males with college degrees make $600,000 more in their lifetimes than peers with only high school degrees – but just one in six full-time students at four-year colleges who are eligible for a student loan do not take one out. Why? The study cites rational self-control, short-sightedness and risk factors like the difficulty of predicting future earnings but also reveals that many loan-less students accrue debt by relying heavily on credit cards to cover educational expenses and half work more than 20 hours per week – a schedule that could hurt their chances of graduating on time or at all.

There’s much more to the study here but what’s your take on student loans? Is borrowing worth it if it's done responsibly or is it best to use loans as a last resort in funding your education?

For the budget-conscious high school senior, it seems like a no-brainer to apply to the local state school for the best shot at affordable tuition. But with the economy in a slump and funding cuts becoming the norm, public universities across the country are more interested in recruiting out-of-state students. Why? It’s pretty simple: On average, tuition and fees for students crossing state lines is more than double that of their in-state peers. So if you have your sights set on schools beyond your state’s boundaries, check out the 10 most expensive public schools for out-of-state students (figures do not including room and board, books and other miscellaneous costs):

1. University of Michigan – Ann Arbor: $37, 265
2. University of Virginia: $36,570
3. University of California – Irvine: $35,780
4. University of California – Davis: $35,672
5. College of William and Mary (VA): $35, 409
6. University of California – Santa Barbara: $35,386
7. University of California – Santa Cruz: $35,211
8. University of California – San Diego: $35,006
9. University of California – Riverside: $34,729
10. University of California – Berkeley: $34,645

Did your prospective college make the list and does this information alter your interest in the school? Is it fair for colleges facing financial woes to place the burden on the shoulders of incoming out-of-state students?

by Angela Andaloro, Scholarships.com Virtual Intern

College students are always being reminded of the importance of internships. Anyone who has taken a serious look into what’s out there knows that many of the internships offered are unpaid and though students may receive college credit or a stipend, it’s rare that they are actually paid hourly wages. While many students accept these conditions for the opportunity to break into their chosen industry, one former intern is taking a stand.

From August to December 2011, Xuedan "Diana" Wang was an intern at Harper’s Bazaar and is now suing the magazine’s publisher, Hearst Corporation, for improper compensation for her internship in which she was working anywhere from 40 to 55 hours a week. Her lawyers believe that Wang is among many interns who are working for an opportunity and being taken advantage of because if these interns were not doing the work they do, companies would be forced to hire someone to do the work. They reason that interns are not only losing out on money by working under these practices but benefits including Social Security contributions, the ability to collect unemployment and workers' compensation as well. Wang’s claims are grabbing the attention of many as her lawyers are looking to turn her case into a class action lawsuit. According to the New York Times, the lawsuit states that “Employers’ failure to compensate interns for their work, and the prevalence of the practice nationwide, curtails opportunities for employment, fosters class divisions between those who can afford to work for no wage and those who cannot, and indirectly contributes to rising unemployment.”

So what does this mean for unpaid internships nationwide? Will employers cave under pressure and start paying interns for their work? It’s hard to say at this stage but the fact is that many employers hire interns to provide a learning experience for students and because they cannot afford to hire entry-level employees to do that work. This could lead to a decrease in the number of internship opportunities available to students, making them more coveted and prestigious positions when attained. The qualifications to be hired for an internship would be higher than ever. Whether this would be a good thing for students or a bad thing depends on a number of factors. We’ll have to stay tuned to find out.

Angela Andaloro is a 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.

by Angela Andaloro, Scholarships.com Virtual Intern

The last few weeks of the fall semester are a stressful time with finals, travel and the holidays to handle but you survived – congratulations! You may have made it into 2012 in one piece but your checking account may not be so lucky. The good news is that there are many ways for college students to save money and make living on a tight budget feel downright comfortable.

Discover discounts. You would be surprised at how many restaurants, clothing stores, hair salons and other businesses have special offers for students! Even some cell phone carriers offer student discounts, which is perfect for the college student who can’t live without his or her phone.

Plan ahead. Mapping out your week – specifically planning your meals – will help you save a lot of money: Stopping at convenience stores and fast food restaurants for snacks adds up fast!

Get a Student Advantage Card.. For $20 a year, the Student Advantage Card gets you extra discounts of up to 25% at a variety of retailers including textbook rental sites and movie theaters.

Enjoy student perks. You can often get free pens and USB drives from companies visiting campus for career fairs. Speaking of campus events, they are often stocked with free food and other swag – what’s better than getting to meet new people and grabbing a bite at no cost? If you can’t make it but still want to take advantage of gratis goods, grab your smartphone or comp to snatch up some samples of your favorite products from sites like SampleStuff.com.

Saving money in college is very important but we would also like to have money to do the things we want. These tips will get you on track to having a few extra bucks when you need them and learn valuable money management skills for your future.

Angela Andaloro is a 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.

by Radha Jhatakia, Scholarships.com Virtual Intern

It’s the end of the semester again and I’m sure as many of you are packing to go home, you’re wondering what you’re going to do with all those textbooks. Although there are some books you may want to keep, you’re going to want to sell most of them back and there are several ways to go about recouping some of the money you invested.

Many campus bookstores will buy back the book for 40 to 50 percent of the price you paid for it – used or new. If the edition is being updated, however, you might want to consider selling it elsewhere because your return will be much lower.

Online book retailers like Amazon and Barnes & Noble will buy textbooks back from you directly. Just recently, Amazon was offering $35 for a book I paid $45 for so I’d say it’s a very good deal. (They give you a free shipping label, too.) Amazon also lets you sell your books through their site to other students. The downside here is you will have to ship the book yourself, which will usually run more than the $3.99 fee Amazon charges, and Amazon takes 10 to 20 percent profit of what you make, including applicable tax and shipping fees.

You can list books on Craigslist or even around your campus. Put up a posting online or in your dorm and have students contact you if they need those textbooks.

There are ways to get money back for your textbooks but make sure to do it as soon as you can after the semester ends. You’ll get a better return this way – funds you can put toward next semester’s books!

Radha Jhatakia is a communications major at San Jose State University. She's a transfer student who had some ups and downs in school and many obstacles to face; these challenges – plus support from family, friends and cat – have only made Radha stronger and have given her the experience to help others with the same issues. In her spare time, she enjoys writing, reading, cooking, sewing and designing. A social butterfly, Radha hopes to work in public relations and marketing upon graduation.

by Angela Andaloro, Scholarships.com Virtual Intern

Winter break is top of mind for many college students right now and although it’s tough to imagine as we pack up our dorm rooms for a month away from campus, we’ll be back in class before we know it. We’re all aware of the expenses that go into being a college student – both in terms of academics and how we spend our time outside of school – and the holiday season is a perfect way to get some assistance on that front. Here are some items you can consider putting on your holiday wish list to make sure the second half of this school year goes smoothly!

• Tablet. This is on the higher end of the price scale but tablets can be seriously helpful. They’re great for taking notes and getting your textbooks as e-books can save you even more money in the long run.
• Headphones. Any college student will tell you music is a necessity in our day-to-day lives. Whether we’re listening to music during our commute or tuning out noise while we’re trying to study, a good pair of headphones can definitely be a college student’s best friend.
• Dorm/class supplies. This gift could be an all-expense-paid trip to Target, a Netflix subscription, some cozy new bedding or even a fresh set of notebooks – it all depends on what you need and the thought behind it. Gifts like these also eliminate a bit of stress from a student’s life and free up some funds for other things that will come up along the way.
• Gift cards. GCs can be better than cash because you have no choice but to use them at their intended location. The best gift cards for a college student? Barnes & Noble and Starbucks, of course! Enjoying a book – even if it IS required reading – with a cup of coffee is a great way to spend some downtime.

Angela Andaloro is a 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.

The Federal Pell Grant program as we know it has been in jeopardy in recent years but an agreement reached last night will keep its funding intact. While college students will still receive the maximum award amount per year, the number of eligible recipients is a quite different (and unfortunate) story.

The Chronicle reported congressional leaders agreed on a spending bill for the remainder of the current fiscal year that would increase funds for the National Institutes of Health by 1 percent, thereby maintaining the maximum Pell Grant amount of $5,550. To make this $300 million increase possible, however, eligibility for the award has been restricted. Under the bill, Pell Grant funding will only be available to each student for six years instead of nine, high school diplomas or GEDs will be required (no more ability-to-benefit tests) and the income cap for receiving an "automatic zero" expected family contribution will be lowered from $30,000 to $23,000. The interest subsidy on undergraduate student loans during the six-month grace period after a student graduates would also temporarily end.

Yes, the changes are significant but they are far less severe than an earlier bill which would have lowered the income cap to $15,000 and reduced the amount of income working students could exclude when applying for financial aid – changes that would have negatively impacted thousands of college students, especially those attending community colleges. We want to know what you think about the news. Is there a way to maintain federal funding without decreasing eligibility or do you think this bill is the best option?

by Radha Jhatakia, Scholarships.com Virtual Intern

It’s that time of the year again where we see festive decorations, cheerful people...and empty wallets. The holiday season can definitely take a toll on our bank accounts – not only do you have to buy gifts but you have to get formal wear for fun holiday events! Can it be done on a college budget? Hard to believe but it can!

First, know where and when to shop. Stores will sometimes offer seemingly large discounts on Black Friday but drop prices even more as the holidays draw closer. How do you know which sales you will save the most on? Well take a look at retailers’ websites to determine the prices and sales they usually have. If you see the percentage of the sales on "special shopping days" are the same as their usual Saturday sales, it’s not a deal! I know what stores I need to go to by doing a little research ahead of time, targeting what items I want and finding additional discounts online and in catalogs: Last year, I found a $99 jacket on sale for $19!

Also, think about making gifts – it’s the thought that counts after all! This year, I’m on a tighter budget so I’m going to make customized stockings. People love gifts that are handmade over something store-bought that might be exchanged. You can even fill the stockings will homemade treats; there are so many recipes for easy-to-make desserts online!

Just remember that the holidays are not about how much you spend. Shop only for what you need and give the rest from the heart. Enjoy the season, amazing food and great friends without going broke!

Radha Jhatakia is a communications major at San Jose State University. She's a transfer student who had some ups and downs in school and many obstacles to face; these challenges – plus support from family, friends and cat – have only made Radha stronger and have given her the experience to help others with the same issues. In her spare time, she enjoys writing, reading, cooking, sewing and designing. A social butterfly, Radha hopes to work in public relations and marketing upon graduation.

by Darci Miller, Scholarships.com Virtual Intern

When I got to college, I assumed that class trips were a thing of the past. And for two years, I was right. So when I found out there was an opportunity to travel to Grand Teton National Park in Wyoming with my travel writing class, I was pretty blown away.

My professor told us that the school would pay for hotel expenses, our admission into the park and dinner on two nights, while student participants had to shell out money for flights (several hundred dollars!) and lunch for several days. Like my fellow virtual intern Kara Coleman said, experience is often more valuable than education but would this be worth it? My parents seemed excited about this opportunity for me and offered to pay, so it was settled: I was going to Wyoming.

We left at the crack of dawn on a Thursday morning and returned at almost midnight on Sunday. Luckily, The U's fall break fell on that Friday and travel writing is one of my two classes on Thursday. Getting out of my one other class was relatively simple – it was a school-approved absence – but I still had to figure out how to deal with the time I now wouldn’t be able to spend doing homework. In the time leading up to the trip, I was also scrambling to get ahead on my newspaper duties: I’m the opinion section editor and had to work double time so I wouldn’t leave the rest of the staff in trouble during my absence.

The trip itself was such a great experience! Grand Teton is absolutely gorgeous and it was really cool to get to know some of my classmates (and my professor!) better. I don’t know when else I’d ever get the chance to go to Wyoming, let alone write about it. And guess what? The newspaper got along mostly fine without me. (When I turned my phone on after a full day of travel, I saw a frantic text from the managing editor. Can’t win ‘em all!)

In trying to gain experience, don’t just do what looks good on your resume. Taking opportunities like these give you the chance to expand your horizons, see and do new things, and handle a different kind of stress.