Skip Navigation Links

Don’t Tax My 529 College Savings Plan, President Obama!

January 27, 2015

by Suada Kolovic

Saving for your college education early is essential in the quest to actually affording it. And if you're lucky enough to have your guardians and relatives willing to help with college costs, the 529 tuition savings plan was the surest route to take. If you aren't familiar, the 529 tuition savings plan was designed to help parents begin saving for college by providing an investment option that allows them to withdraw funds for qualified educational expenses tax-free...or at least that was the case.

According to the Wall Street Journal, President Obama has proposed "rolling back" tax benefits of 529 college savings plans and "repeal tax incentives going forward" for Coverdell Education Savings Accounts. For now, both plans allow parents, grandparents or anyone looking to help fund a kid's education to contribute after-tax dollars into accounts that grow tax-free; when money is withdrawn for educational expenses, there’d be no tax either. President Obama has suggested changing the law so that withdrawals would be taxed as ordinary income. Yikes. Why the change? The administration has labeled the plans “inefficient” and complained that the benefit accrues too heavily toward higher-income Americans. (For more on this story, click here.)

With the plans as popular as they are – more than 12 million children from 7 million households are currently benefitting – what negative affects could the proposed changes have? Would they affect you personally? Share your thoughts in the comments section.

Comments (6)

SOTW: The Paul Revere Society’s “What Does It Mean To Be An American” Essay Contest

This SOTW is Accepting Entries Through March 31st

January 26, 2015

by Suada Kolovic

The Savage Paul Revere Society's "What Does It Mean to Be an American" Contest is designed to encourage college students enrolled in two or four-year accredited college institutions to study and promote traditional American conservative values. The essay must be approximately 500 words and express respect and love for America.

The contest is open to United States citizens who are 17 years of age or older and have been accepted to a two or four-year accredited college institution within the United States. Each Entrant must submit his or her essay electronically. To submit an essay electronically, please include the essay as a .doc attachment in an email to SavageScholarship@gmail.com with the following subject line: "Entry for Savage Paul Revere Society Essay Contest."

For more information, including complete contest rules, please click here. And if you're interested in finding additional money for college, conduct a free scholarship search today!

Comments

What Colleges Can Expect from Congress in 2015

January 21, 2015

by Suada Kolovic

With a new year comes a new Congress under new-ish management. Republicans will control the Senate for the first time in eight years, while the House of Representative will have its largest Republican majority in since 1928. But what does any of that have to do with higher education? Here are five predictions, courtesy of The Chronicle of Higher Education:

  1. Gridlock will continue. The gridlock and partisan warfare that we've seen in recent years will continue...and is likely to worsen as the 2016 election approaches. By the fall, the prospects for compromise on major legislation – education or otherwise – will be dim.
  2. Funding will remain tight. Budgets won’t change much, especially once the latest round of across-the-board spending cuts (known as the sequester) is applied. In that context, the most colleges will be able to hope for are modest increases for research and student aid; most programs will have to fight just to keep level funding. The Perkins student loan program, which is set to expire in September, will be particularly vulnerable. If government accountants conclude that continuing the program would cost taxpayers, lawmakers may abolish it.
  3. Colleges will have to compete for attention. Republicans have laid out several priorities for 2015, including overhauling President Obama's new healthcare system and approving the long-stalled Keystone XL pipeline. Renewal of the Higher Education Act – the main law governing federal student aid – is not among those priorities.
  4. Simplification will rule the day. In the Senate, Lamar Alexander of Tennessee has drafted legislation to shrink the FAFSA to the size of a postcard and to reduce the number of grant and loan programs. Meanwhile, House Republicans have offered a road map for reauthorization that calls for "one grant, one loan, and one work-study program" and just two loan-repayment programs.
  5. For-profit colleges will breathe a little easier. Republicans aren’t likely to single out the sector in the way Democrats have. Rather, they will seek to apply any accountability regimes to all colleges.

For more on their predictions, click here. Any you'd like to add? Share your thoughts in the comments section. And don't forget to create a free Scholarships.com profile for a list of scholarships that are personalized to you!

Comments

Obamas Free College Proposal Raises Questions

January 20, 2015

by Ben Archer

Sure, anything Obama proposes is going to have detractors across the aisle politically. Perhaps due in part to his recent and seemingly more and more frequent use of executive action or just plain old typical partisanship, our president can scarcely do anything these days without intense scrutiny. Naturally, among the chief concerns of Obama’s opponents on the matter is the increase in taxes that would be necessitated by such action. But let’s discuss the other aspect of offering "free" college for all first.

Some people (perhaps none more than those who had to work before, during and/or after attending college to pay for the education and experience they received) may feel as though it would be beneficial for anybody who attends college, community or otherwise, to have some "skin in the game". Certainly, there is a certain psychological aspect to consider; the potential subconscious assignment of value to things that are "free" vs. the ones for which one has worked and saved to attain, isn’t there? Definitely a point worth discussing and possible consideration when discussing the cost of college. Naturally, not all prospective beneficiaries of the "free college" plan would respond in the same way. Certainly, there are many who would take full advantage of such a program and benefit greatly from the opportunity, but would they comprise a large enough portion of the qualifying applicants to the program for it to be viable and sustainable?

Of course, there is also the debate about funding of such a plan. We all know that there is no "free" college or anything else in this world, so who ends up paying for the college education that the students in question would receive through such a plan? Should the taxpayers at large, whether they have kids or not, have already paid for their children to attend college, etc. be required to pay for other people and their children to attend college? Is this the only or, more importantly, the best solution to the problem of the rising cost of post-secondary education? Does anybody have a better idea?

Of course, at first glance, the idea of providing everyone with the opportunity for a free post-secondary education is very appealing to those who can't afford college. This would be, at the very least, a "leg-up" for those who don't have the money to pay for college; a chance to prove to themselves and perhaps to a school to which they might later transfer, that they possess the dedication and aptitude to earn a degree. But with the country still in tremendous debt and many college grads being forced to take jobs that don't require a college degree at all, is this a practical solution? Would students who were not paying take the opportunity for granted due to the lack of having invested any of their own money in the endeavor? Is this a solution that will actually accomplish the goal of providing education to those who need but cannot afford it? There are still many questions yet to be answered and, as always, we would love to offer our comments section for you to annotate and contribute to this debate.

So, what do you think? Should community college be free? Do you think students will do as well in such a situation as they would if they were required to pay tuition? How would you propose supporting such a program? C'mon, speak up and tell us your thoughts!

Comments (17)

Register and Win $500 from Scholarships.com

New Winner Selected Every Month!

January 19, 2015

by Suada Kolovic

Looking for a way to pay for your college education that includes free money? Well, you’re in luck! Here at Scholarships.com, we provide users with the most relevant scholarships and educational information out there.

By registering at Scholarships.com, you’ll have access to more than 2.7 million local, state and national college scholarships and grants worth $1.9 billion...and did we mention that you’ll be eligible to win $500 automatically just for registering? That’s right: Filling out a complete profile will enter you into our monthly drawing for $500. No lengthy essay or massive application packet required – it doesn't get any easier than that. Complete your profile, get entered to win $500 and start exploring additional scholarship options today!

For the complete rules, click here.

Comments (1)

President Obama Proposes Free Community College

January 13, 2015

by Suada Kolovic

When considering the true cost of a college education, students must remember to factor in not only tuition but mandatory fees, room and board, books, supplies and living expenses. Unless, of course, you’re considering a community college: President Obama recently proposed free community college for all high school graduates for two years! Score!

The concept, according to administration officials, is not to target low-income students explicitly: Anyone will be provided the option of two years of tuition as long as they maintain a 2.5 GPA and attend school at least half-time. In effect, community college would be universal the way high school is. "Two years of college should be free and should be universal and should be of high quality for responsible students, just like high school is today," said Ted Mitchell, under secretary of education, the third-highest ranking official at the U.S. Department of Education. If the initiative is adopted nationally, officials estimate nine million people across the county could each save about $3,800 in college costs.

It's important to note that the President's proposal would involve the federal government and states combining to pay the entire cost of tuition for two years at a community college for any American who wanted it. And relying on taxpayers is where the program is likely to run into objections from Republicans in Congress: The administration estimates the program would cost about $6 billion a year. (For more on this story, click here.)

With the cost of a college education still on the rise, what do you think of President Obama’s proposal? Share your thoughts in the comments section. For more on the pros and cons of community college, head over to our College Prep section. And while you’re there, don’t forget to create a free Scholarships.com profile to help you fund your education.

Comments (11)

SOTW: AFA Teens for Alzheimer's Awareness College Scholarship

This SOTW is Accepting Entries Through February 15th

January 12, 2015

by Suada Kolovic

As more and more families across America are affected by Alzheimer's disease, many teenagers as well are becoming aware of this heartbreaking brain disease - from personal experiences in their own families, watching friends and neighbors or involvement in community service.

Recognizing this, the Alzheimer's Foundation of America (AFA), a national nonprofit organization, has created a division specifically for teens, AFA Teens. Its goals include raising awareness among teenagers and the general public about Alzheimer's disease and related dementias; providing education, counseling and support to young family members; enabling teens to share feelings with other teens and experts; and referring teens and their family members to supportive services.

In a further effort to provide an outlet for teenagers to think creatively about Alzheimer's disease and to engage the younger generation in this cause, AFA offers the AFA Teens for Alzheimer’s Awareness College Scholarship. AFA will award $5,000 to the grand prize winner and $2,500 to the first runner-up, a $1,000 scholarship to the second runner-up and seven $500 scholarships for Honorable Mention. For more information on this scholarship and other scholarship opportunities, conduct a free scholarship search today!

Comments

The FAFSA: New Year Means New Application

January 6, 2015

by Alexis Mattera

Though it's a day off from school and work, New Year's Day is also a day to get down to business. While you’re starting in on your New Year's resolutions, opening up a new calendar, and packing up the holiday decorations, there’s one more thing that college students and college-bound high school students should do each January. The Department of Education starts accepting the Free Application for Federal Student Aid (more commonly known as "FAFSA") on January 1 each year. State application deadlines fall soon after—as early as February in some cases. So while you might not start classes until August or September, you want to start applying for financial aid as soon as the FAFSA is available each year.

In order to complete a FAFSA, you will need the following:

  • your social security number
  • a driver’s license if you have one
  • bank statements and records of investments (if you have any)
  • records of untaxed income (again, if you have any)
  • your most recent tax return and W2s (2013 for the 2014-2015 FAFSA)
  • all of the above for your parents if you are considered a dependent
  • a PIN to sign electronically (go to pin.ed.gov to get one)

For more information on FAFSA and other daunting financial aid acronyms, head over to our Federal Aid section. And while you’re there, don’t forget to create a free Scholarships.com profile to help you fund your college education.

Comments

SOTW: Chegg's $1,000 New Year's Resolution Scholarship

Deadline Quickly Approaching

January 5, 2015

by Suada Kolovic

2015 is nearly upon us and Chegg wants to know what your resolution is to making 2015 the best year yet! They're awarding a $1,000 scholarship to the student with their favorite answer! But hurry, the deadline January 31st!

The Contest is open to legal residents of the 50 United States and the District of Columbia, who are: (1) at least 15 years of age, and (2) currently enrolled in high school. Scholarships are not paid to schools outside the United States. Participants must register with Chegg and agree to the Chegg.com terms of use. For more information on finding money for college and how to properly fund your college education, check out Scholarships.com Financial Aid section and conduct a free scholarship search today!

Comments

Like Scholarships.com? Tell a Friend to Win $1,000 in This SOTW!

December 30, 2014

by Suada Kolovic

As a Scholarships.com member, you have free access to a customized scholarship search, detailed financial aid information, an organized college search, standardized test study guides and much more. Like what you see? Spread the word about Scholarships.com to your friends through our “Tell A Friend” Scholarship and you'll have a chance to win money for college - $1,000 for you and $500 for one of your buddies.

To enter, simply copy your personalized TAF referral link and blog it, tweet it, email it, IM it or Facebook it. For every one of your friends who creates a profile on our site by clicking your link, you will be entered to win a $1,000 award; there’s no limit as to how many people you can send your link to and if you win, one of your friends who created a Scholarships.com profile using your link will be chosen at random to win $500.

For more information, visit our Tell a Friend Scholarship page and for additional scholarship opportunities, conduct a free scholarship search today! By creating a Scholarships.com profile, you'll be matched with funding opportunities that are unique to you.

Comments

Recent Posts

Tags

ACT (19)
Advanced Placement (24)
Alumni (17)
Applications (81)
Athletics (17)
Back To School (73)
Books (66)
Campus Life (454)
Career (115)
Choosing A College (52)
College (995)
College Admissions (240)
College And Society (300)
College And The Economy (374)
College Applications (145)
College Benefits (290)
College Budgets (214)
College Classes (444)
College Costs (491)
College Culture (592)
College Goals (386)
College Grants (53)
College In Congress (88)
College Life (558)
College Majors (220)
College News (581)
College Prep (166)
College Savings Accounts (19)
College Scholarships (158)
College Search (115)
College Students (446)
College Tips (113)
Community College (59)
Community Service (40)
Community Service Scholarships (27)
Course Enrollment (19)
Economy (120)
Education (26)
Education Study (29)
Employment (42)
Essay Scholarship (38)
FAFSA (55)
Federal Aid (99)
Finances (70)
Financial Aid (414)
Financial Aid Information (57)
Financial Aid News (56)
Financial Tips (40)
Food (44)
Food/Cooking (27)
GPA (80)
Grades (91)
Graduate School (56)
Graduate Student Scholarships (20)
Graduate Students (65)
Graduation Rates (38)
Grants (62)
Health (38)
High School (130)
High School News (71)
High School Student Scholarships (183)
High School Students (308)
Higher Education (110)
Internships (526)
Job Search (177)
Just For Fun (115)
Loan Repayment (39)
Loans (47)
Military (16)
Money Management (134)
Online College (20)
Pell Grant (28)
President Obama (24)
Private Colleges (34)
Private Loans (19)
Roommates (100)
SAT (22)
Scholarship Applications (163)
Scholarship Information (179)
Scholarship Of The Week (270)
Scholarship Search (218)
Scholarship Tips (86)
Scholarships (403)
Sports (62)
Sports Scholarships (21)
Stafford Loans (24)
Standardized Testing (45)
State Colleges (42)
State News (33)
Student Debt (83)
Student Life (511)
Student Loans (139)
Study Abroad (67)
Study Skills (215)
Teachers (94)
Technology (111)
Tips (506)
Transfer Scholarship (16)
Tuition (93)
Undergraduate Scholarships (35)
Undergraduate Students (154)
Volunteer (45)
Work And College (83)
Work Study (20)
Writing Scholarship (18)

Categories

529 Plan (2)
Back To School (357)
College And The Economy (513)
College Applications (251)
College Budgets (341)
College Classes (564)
College Costs (748)
College Culture (929)
College Grants (133)
College In Congress (132)
College Life (950)
College Majors (330)
College News (908)
College Savings Accounts (57)
College Search (390)
Coverdell (1)
FAFSA (116)
Federal Aid (132)
Fellowships (23)
Financial Aid (704)
Food/Cooking (76)
GPA (277)
Graduate School (107)
Grants (72)
High School (538)
High School News (258)
Housing (172)
Internships (565)
Just For Fun (223)
Press Releases (1)
Roommates (138)
Scholarship Applications (222)
Scholarship Of The Week (346)
Scholarships (595)
Sports (74)
Standardized Testing (58)
Student Loans (225)
Study Abroad (61)
Tips (832)
Uncategorized (7)
Virtual Intern (532)

Archives

< Mar April 2015 May >
SunMonTueWedThuFriSat
2930311234
567891011
12131415161718
19202122232425
262728293012
3456789

<< < 1 2 3 4 5 6 7 8 9 10 > >>
Page 4 of 220