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Scholarships.com's Kevin Ladd to Speak on CollegeWeekLive.com Today

Mar 24, 2010

by Administrator

Today, at 7PM EST, Scholarships.com's own Kevin Ladd will be giving a presentation on the scholarship search, focused primarily on high school juniors. The webcast will be hosted and produced by CollegeWeekLive.com, a site that offers virtual college fairs featuring all sorts of presentations from colleges, financial aid professionals, and much more. There is a College Chat, Student Chat, information on federal aid such as the FAFSA and even video chats.

Today, Kevin's presentation will address scholarships and the importance of beginning your search early, citing scholarships offered throughout a student's high school years as well as the benefit of having familiarized yourself with the financial aid and scholarship search process long before your senior year. In fact, there are some scholarships specifically targeting high school juniors for which you won't qualify if you put off searching for financial aid until your senior year in high school.

The earlier you begin searching for scholarships, the better chance you have of finding the best ones and being awarded free money for college. For more on this and to "virtually" visit some college halls while you are at it, check out CollegeWeekLive.com and don't forget to be there at 7PM Eastern Time to see Kevin's presentation on finding scholarships. If you do miss it today, you can search for it in the College Week Live archives tomorrow and thereafter, but if you catch his live presentation today, you will be able to text any questions you might have.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Asian Education Superior? First Cars, Now College...

Mar 10, 2010

by Administrator

Perhaps, for the time being, American colleges (see Harvard, Princeton, Yale, etc.) are among the most desirable in the world, but there is some concern that this might not always be so and that perhaps this shouldn't be taken for granted.

Before Toyota started shipping automobiles to the United states in ever-increasing quantities, General Motors ruled. The American car was king in the U.S. and led all other auto companies world-wide for three quarters of a century. That began to change in the 80's and now it is not uncommon, even right here in the heartland of America, to see more Japanese cars on your morning commute than those manufactured in the United St. Could we have learned a lesson from Japan? Taken a page from their playbook maybe and avoided the enormous failure and subsequent government bailout of what was once the auto sales leader for 77 consecutive years? There are those who believe education is set on a similar trajectory. Here are five things we might want to consider:

  1. Building Human Capital While college costs continue to rise in the U.S. and it becomes more and more difficult for high school grads to attend college, China is making sure its young people have an opportunity to get a post-secondary education. Apparently they, along with other East Asian countries, see a strong connection between the education of its citizens and its burgeoning economy and are working to build human capital to ensure continued growth and success.
  2. Policy May Set Pace China is set to outpace the U.S. not just in college grads, but also in world-class universities. This is primarily due to the amount of importance they place on education and the funding they commit to seeing that it succeeds. If we are to have any hope of keeping up with China, India and Japan in the coming decades, we may want to consider a similar approach and learn from the success of these programs and their dedication to higher education.
  3. Beware Hubris It's probably not a good idea to assume that, because there presently are no Asian institutions listed among the top 20 worldwide, there won't soon be. According to Yale's president, Richard C. Levin, there is likely to be some change in the coming years, with National University of Singapore one of the schools likely to break into the top twenty.
  4. Eyes on Asia It might be a good idea to take a serious look at some of the programs the most successful schools in Asia have implemented and consider building some of our own in select institutions, for a start. Getting students involved in more global, real-life situations and positions earlier, for example, might be something we should be doing more of.
  5. If You Can't Beat 'Em OK, it may be a bit early to admit defeat and, if we step it up a bit, maybe concession won't be necessary, but working with Asian universities could be among the key steps we could take to improve the quality of the education we offer in the U.S.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Credit Card Act Goes into Effect Monday

Feb 19, 2010

by Scholarships.com Staff

New regulations that the federal government hopes will protect college students from excessive credit card debt by making it more difficult for young people to open multiple lines of credit go into effect Monday. The regulations, which fall under the Credit Card Accountability Responsibility and Disclosure Act of 2009, were approved by Congress last May.

The key pieces of the act include the followin:

  • Creditors will be prohibited from issuing credit cards to anyone under 21 without the consent of that applicant’s parent or guardian, or proof that the consumer would be able to make the required payments on their own.
  • Creditors will be barred from offering students perks, such as coupons or T-shirts and book bags decorated with the companies' logos, for opening a new credit card account at campus events.
  • Companies will be required to disclose any existing relationships with colleges and universities annually to the Federal Reserve Board; colleges and universities will be required to disclose any existing relationships with credit card companies as well.

The regulations also included a strong suggestion to institutions of higher education that they provide education and counseling to students who may be struggling with credit card debt, or who may know little about managing credit card usage wisely.

Critics of the act since it was approved say that college students, who take on a slew of new responsibilities once they get on campus, should be treated as adults. For better or worse, students now are more apt to use credit cards to pay for their college expenses, and critics say they shouldn’t meet obstacles when using their credit cards for those costs. (According to a recent survey by student lender Sallie Mae, 84 percent of undergraduates have at least one credit card; 92 percent of those undergraduates use the cards toward college expenses. College students’ average balances are more than $3,100.) Some consumer advocates also say that while it's a good first step toward keeping students from incurring massive amounts of debt, it doesn't do enough, according to an article today in Inside Higher Ed. It fails to include any cap on the interest rate credit card providers can charge, for example.

We have a number of resources available to you about how to avoid credit card debt, make smart decisions about covering your college costs, and managing your money so that you're spending within your means. It may not mean much to you now, but it isn't all that easy to improve upon a credit score. The spending choices you make today will follow you down the line, so ideally, stick to one card if you need one, and if you find yourself in debt, pay off as much as you’re able to each month until you’re done.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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Middlebury College Plans to Place Ceiling on Tuition Hikes

Feb 16, 2010

by Scholarships.com Staff

The president of Middlebury College has introduced a plan that would cap the school's annual comprehensive cost increases at 1 percentage point above inflation, a proposal that would slow increases that have been running well above and independent of changes in the Consumer Price Index. The school's board is expected to approve the proposal prior to planning its budgets for the next year.

According to an article in Inside Higher Ed today, the decision to come up with a proposal for a tuition increase cap came when administrators started talking a hard look at the ever-growing cost of a liberal arts degree. At Middlebury, the "comprehensive fee" of an education there - tuition, room and board - has reached past the $50,000 per year mark. And despite a record number of students applying to the school, administrators felt they should be forward-thinking rather than taking advantage of the current windfall of applicants. Those numbers won't keep up forever, after all. In a speech at the college on Friday, the school's president, Ronald D. Liebowitz, said there would eventually "be a price point at which even the most affluent of families will question their investment; the sooner we are able to reduce our fee increases the better."

A number of schools have tried to impose tuition freezes in the past, only to revert back to their old ways when budgets tightened. Princeton University tried in 2007; Williams College tried in 2000. Middlebury administrators, however, hope their cap is sustainable for the long term. Middlebury's increase for the current 2009-10 year was 3.2 percent, 3 points above inflation. The average annual increase for private, four-year colleges is 4.4 percent, according to the College Board. Critics of the proposal worry that cuts will come from elsewhere to make up the funds lost by the cap; the school loses about $900,000 for each percentage point increase it doesn't make. In the Inside Higher Ed article, Liebowitz said he saw revenue potential in the school's unique programming, and that the move could make the college even more desirable to applicants also applying to private colleges who are not considering tuition increase caps.

In 2008, only five colleges charged $50,000 a year or more for tuition, fees, room, and board. In 2009, 58 did, making $50,000 the new norm. Still, it could be worse. Tuition and fees increased by an average of 4.3 percent at private colleges and universities nationwide for the 2009-2010 academic year, according to data from the National Association of Independent Colleges and Universities. Those figures, although much higher than the rate of inflation, were still lower than previous averages. In fact, those tuition increases were the lowest they have been in 37 years, despite the struggling economy. On average, schools also allocated 9 percent more to college scholarships and grants for 2009-2010 than the previous academic year.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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The Scholarship Interview; "Making" It or "Breaking" It

Feb 15, 2010

by Derrius Quarles

Now that you have made your scholarship list, gotten your recommendations, written your personal statement, created your scholarship application packet and applied for scholarships, you may be receiving e-mails and calls notifying you that you have been selected for interviews. This is it! This is what you worked so hard for! The only problem is, for some students, the interviews will be it, literally. Each scholarship will have a certain number of winners; more students will be invited to interviews than can be selected as recipients. This is why the interview is so crucial; it will be the determining factor of who is in the final group of winners. If you want to be in that final group, you have to set yourself apart, just as you did in your personal statement.  Speaking of personal statements, which essentially are essays, I like to think of the interview as an essay. There is an introduction, body, and a conclusion. Like your scholarship essay, the interview says something about who you are, how informed you are of a topic, what your opinions and thoughts are, and how eloquently you can state those opinions and thoughts. So here is the interview breakdown:  Introduction - Your appearance, handshake, ability to make eye contact, ability to state your name, posture, and overall attitude all add up to a great introduction.

     
  • In every interview, your dress should be business casual, at the very least. Even if the interviewers did not specify a dress code, it is better to be overdressed than to be underdressed
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  • The handshake should be firm, but not overpowering or held for too long
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  • Eye contact is a sign of respect in American society, so always show respect by looking your interviewer in the eye
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  • You should be able to say your first and last name confidently to each interviewer, maintain a good listening posture, and make the interviewers feel like you desire to be there and deserve the scholarship
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 Body - This consists of the questions that will be asked of you. These can either be very open ended such as: “Tell us about yourself.”Or very direct such as: “What is your potential major?” Not only are your answers important but so, too, are the manner in which you listen and interact with the interviewers. 
     
  • The questions can get difficult, it is much better to pause and gather your thoughts before you answer than to answer prematurely
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  • When the interviewers are talking give them your full attention and listen actively and be aware of your body language
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  • Try to answer each question completely and give a complete answer, but do not talk unnecessarily or ramble
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  • Do not be afraid to be yourself or throw some humor into your answers
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 Conclusion - The time to wrap up everything you showed during the introduction and body of the interview. This includes keeping the same professionalism and great attitude you came in with, and reinforcing the answers you gave. 
     
  • When the interviewers are done asking you their questions, they may see if you have any questions for them. Even if they do not ask if you have any questions, politely tell them you would like to ask them some questions. This shows you are interested in them, just as much as they are in you.
  •  
  • When you get up to leave the interview room, make sure that you shake every person’s hand in the room and thank them for the opportunity.
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 In addition to having a good intro, body, and conclusion there are simple mistakes that everyone should avoid, the way you would try to steer clear of spelling and grammar mistakes in an essay. 
     
  1. Always show up early for an interview
  2.  
  3. Turn your cellular device on silent mode or off
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  5. Do not fidget your fingers or give attention to other items such as a pen while others are speaking
  6.  
  7. Never leave the interview without showing appreciation and stating that you look forward to communication in the future
  8.  
 You worked hard to be chosen for an interview, and you deserve anything that you are awarded. Unfortunately, someone will have to “break it”, so take this advice and come into the interview ready to “make it”.

Derrius L Quarles is a 19-year-old freshman at Morehouse College. He hopes to go to medical school after he graduates with a degree in psychology and biology and a minor in public health, and to one day work on the public health policies of his hometown, Chicago, and beyond. To help him achieve those academic and career ambitions, Derrius has won more than $1.1 million in scholarships, including a full scholarship to attend Morehouse, since graduating from Chicago’s Kenwood Academy High School with a 4.2 GPA. Derrius was awarded a Gates Millennium scholarship and won a number of other highly competitive awards, many of which he found while searching for scholarships at Scholarships.com. He is the first in his family to attend college, and spent his childhood in the foster care system before becoming the “Million Dollar Scholar.” This is the sixth in a series of posts Derrius is writing for Scholarships.com on how he was able to fund his education, along with advice about the scholarship application process.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Students and Families Unprepared for College, Financial Aid Application Process

Feb 10, 2010

by Scholarships.com Staff

Despite recent trends of more students across the country enrolling at institutions of higher learning, many students and their families remain mostly uninformed and unprepared to navigate the college and financial aid application process, according to a report issued yesterday called "Planning for College: A Consumer Approach to the Higher Education Marketplace."

The report, from MassINC, a think tank in Massachusetts, looked at decisions students and families need to make when applying to and paying for college, and the information they need to make those decisions. It found that students and parents currently have great difficulty "getting the most out of their col­lege dollar," as the price of higher education only continues to rise.

Perhaps even more alarming is that families have started borrowing more to pay for college, without considering risk and the rate of their return. Related to increases in student borrowing amounts, an article in The Chronicle of Higher Education yesterday looks at the idea that doctoral students finish faster if they take out large loans. The most obvious answer why is that taking out more student loans allows the students to take more classes, and quit part-time jobs that may have been reducing their college costs. It's a choice students must make every day - should you sacrifice some comfort to reduce your student loan debt, even if it means taking longer to complete your degree? It's a personal decision, but students should be aware that they'll be expected to start repaying any debt once they graduate.

The Massachusetts study also found that students and families had little knowledge of tax benefits and college savings plans, and how to compare them. For example, there are 118 different 529 Plans, and the resources out there do little in the way of pointing consumers to the advantages and disadvantages of each. Families and students also admit to knowing little about the actual sticker price of colleges, as that often depends on the funds available to assist incoming students, an unknown when those students first apply.

The report's authors suggest families and students must become more like "savvy consumers" who are able to understand and successfully manipulate the college and financial aid application process to their advantage. The process should also be made less complex, an idea that is already being explored by federal legislation such as the Higher Education Opportunity Act. Finally, families need reliable measures about the educational experience that colleges and universities offer beyond the annual rankings we see in the Princeton Review, for example. According to the report, while the U.S. Department of Education is providing increasingly consistent and accessible indicators, such as graduation rates, this branch of the college-bound decision remains the weakest.

And remember, there’s no need to rely on expensive student loan options to pay for your college education. For more information on finding free scholarship money for college, conduct a Scholarships.com free college scholarship search today, then apply and win! It’s that easy!

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Food Banks Open Doors to College Students

Feb 9, 2010

by Scholarships.com Staff

Several colleges across the country have opened food banks to assist students struggling to make ends meet at a time when tuition costs continue to rise and schools look to find ways to recoup budget losses over the last academic year.

Michigan State University, where students have dealt with the loss of the Michigan promise scholarship, has seen a 25 percent increase since 2008 in the number of students who visit its student-run food bank. Grand Valley State University opened a food pantry in April to help students cope with higher tuition costs. An article in the Detroit Free Press over the weekend describes the situations students have found themselves in. Some have parents who have been laid off and can no longer contribute to college educations, some have children and families of their own that they have had trouble supporting, some have lost part-time jobs that covered the costs of food, and others just need some help in between paychecks as they work campus jobs when they're not attending class.

Michigan State's Olin Health Center, where the food bank operates biweekly, and the Grand Valley State pantry, which has helped more than 200 students since it opened. Both are able to run through regular donations of cash and food.

Food banks across the country have seen an increase in visitors, both student and not, in tough economic times. Nearly one in 10 Massachusetts residents visited a food bank in 2009; one in eight people in both Fort Worth, Texas, and Greensboro, North Carolina visited a food bank last year. College campuses have responded with other types of emergency financial assistance, as well. The University of Michigan has been offering emergency grants to students who need help paying for the costs of food or medication, or an unexpected move. Students can apply online and receive $500 by the next morning, according to the Free Press article. Western Michigan University offers short-term emergency loans to help with living expenses.

If you're having trouble covering costs, despite living frugally and within your means, there is help out there. Whether you look to your local community or explore options through your financial aid office, consider every option.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Know Your Tax Benefit Options This Filing Season

Feb 3, 2010

by Scholarships.com Staff

Whether you're an independent filing your own taxes, or a dependent whose parents or guardians are covering a good portion of your tuition, it's a good idea to be aware of the tax credits and tax benefits you and your family members could be eligible for this filing season.

The federal government has estimated that up to 2 million tuition-paying Americans will receive as much as $2,500 back on their taxes when they file in both 2010 and 2011 by taking advantage of the American Opportunity Tax Credit. That credit was established through the American Recovery and Reinvestment Act. The American Opportunity Tax Credit, which can be claimed for tuition and certain fees you pay for higher education in 2009 and 2010, is targeted at low- and middle-income families, and isn't available to single filers earning more than $90,000 a year or couples earning more than $180,000. Even those who owe no taxes due to how little they make may receive refunds of up to $1,000.

The American Opportunity Tax Credit expanded (and renamed) the already existing Hope Credit. How did the two compare? 

  • The Hope Credit applied only to the first two years of college. The American Opportunity Tax Credit can be claimed for expenses for the first four years of post-secondary education.
  • The American Opportunity Tax Credit is a $700 increase over the Hope Credit.
  • The term "qualified tuition and related expenses" has been expanded to include expenses used for "course materials," which means books, supplies, and equipment needed for a course of study.
  • A qualified, nontaxable distribution from a Section 529 plan during 2009 or 2010 now includes the cost of the purchase of any computer technology, equipment, or Internet access and related services, if such purchases will be used by the beneficiary of the plan and the beneficiary's family during the time those beneficiaries are enrolled in an institution of higher education.

Other important facts before you file for an American Opportunity Tax Credit:

  • The credit is claimed using Form 8863, attached to Form 1040 or 1040A.
  • You have to choose between tax credits. You cannot claim the tuition and fees tax deduction in the same year that you claim the American Opportunity Tax Credit or the lifetime learning credit. (You should choose which one will offer you the best refund. It's fine to take advantage of all of your options.)
  • 60 percent of the American Opportunity Tax Credit is nonrefundable, so if your credit exceeds your tax, the difference isn't refunded to you.

Make sure you and your family are prepared this tax season, because the federal government does offer perks to going to - and paying for - higher education.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Williams College Ends "No-Loan" Policy

Feb 2, 2010

by Scholarships.com Staff

As a response to "operating in unsettled and ... unsettling times," Williams College has decided to stop offering its no-loan student-aid program and to reintroduce modest student loans to students' financial aid packages.

In an open letter to the Williams community released over the weekend, the school's Interim President Bill Wagner said the change would not affect current students, but beginning with the class that enters in the fall of 2011. Families below a certain income will still not be expected to borrow at all, and other students will be offered loans on a sliding scale up to a maximum size that the school says will still be among the lowest in the country.

Student loans were eliminated at Williams in the 2008-2009 academic year, joining more than 30 private colleges that had adopted similar policies, such as Amherst and Claremont McKenna colleges. (There have already been rumors that Amherst College may join Williams in amending its own policy.) The decision to cut loans out of students' financial aid packages came at a time when the school's endowment had grown so large that there were demands to spend more. But at the same time, more students were applying for and qualifying for financial aid.

Williams isn't the only college to renege on a promise to students, nor is it the first. Lafayette College raised the loan limit it pledged to students from $2,500 a year to $3,500 a year if they had family incomes of between $50,000 and $100,000. Dartmouth College has been requiring loans again for those at certain levels now exempt from borrowing. Endowments across the country have plummeted, suffering their worst losses since the Great Depression. According to an article in The Chronicle for Higher Education published last week, the value of college endowments declined by an average of 23 percent from 2008 to 2009. An endowment student sponsored by the National Association of College and University Business Officers found that of the 654 institutions that reported carrying long-term debt, the average debt load grew from $109.1 million to $167.8 million.

Are "no loans" policies feasible at all? Some critics explain that there are students currently exempt from taking out loans who could easily be able to pay them off once they graduate. Students with family incomes of more than $120,000 have the resources to borrow less than other students, critics say, and the focus instead should be on helping low-income students keep their loan debts at a minimum. Williams hasn't been clear as to what the family income cutoff would be for its new policy, but it will undoubtedly hit the middle class hard.

And don't forget, you should pay for your college education with as much free money as possible! Find as many scholarships and grants as you can before turning to student loans. Visit the Scholarships.com free college scholarship search today where you'll get matched with countless scholarships and grants for which you qualify, then apply and win! It’s that easy!

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Why Start Over on Each Scholarship Application?

Jan 26, 2010

by Derrius Quarles

Humans give off carbon dioxide for plants to use and plants give off oxygen for humans to survive.  Water is constantly converted into a gas through heat where it then rises and cools to fall as rain, snow, etc. These processes have occurred for thousands of years and they are also some of the most efficient processes known to man. Why are these natural processes so efficient? It is because they use a process known as recycling. Recycling is a process observed in many natural systems, and it may be the most important concept for you to understand when completing the scholarship process. You have written your personal statements (essays), gotten your recommendations, created your resume, and made a scholarship list. However, if you do not learn how to recycle these items, you will soon find that it is difficult and vey time-consuming to apply for the 15 or more scholarships on your list. If you learn how to take a paragraph from your college application essay and insert it there, take a paragraph from your past scholarship essay on adversity and insert it here, you will soon have an entirely new essay that you can use for a different scholarship.

Recycling application sections sounds like a fairly simple idea, right? Not necessarily. Recycling when doing scholarship applications is a great idea, but it’s not exactly simple. It can be an effective tool if used properly. If used incorrectly, however, it can have disastrous effects and can be a quick way to lose potential financial aid. “So, how do I recycle effectively?” you may ask. The answer is that you have to ensure that while recycling application sections such as a personal statement (essay) or recommendation that you tailor the personal statement or recommendation to each specific application. If you are applying to a scholarship that awards money based on academic achievement, it is not the best idea to recycle and use a recommendation previously written by a community service organizer because they cannot speak first hand about your abilities in the classroom the way a teacher can. You also may want to go through your essays and ask your recommenders to make the small or large changes in order to tailor your applications. If your essay states that “I feel I deserve the Dell Scholarship because…” yet you are applying to the Wal-Mart scholarship, you probably just lost that scholarship. An application package is somewhat like a suit, it needs to tailored in order to look its best; although it may look okay without tailoring, it will look great with it.

Here are some quick rules for recycling sections of your scholarship application:

  1. Be sure that each section of your scholarship applications is tailored for the specific type of scholarship you are applying for- If it’s a community service type of scholarship. Your recommendations and essay should talk about your experiences with community service etc.
  2. You can recycle an entire essay and use it over if it applies to the question being asked- If you wrote an essay in the past about your love for science and are applying to a scholarship related to science, you can probably use that entire essay over and save valuable time.
  3. Use different parts of past personal statements or essays to create entirely new essays- A few paragraphs from old essays with a few new sentences added to them is an entirely new essay.
  4. Get copies of your recommendations from your recommenders- Make sure each copy has their signature on them and you can use them in the future
  5. Always have copies of your resume, standardized test scores (ACT, SAT), and FAFSA Student Aid Report (SAR)- You will definitely need these items the majority of the time when applying to scholarships and having copies ready saves time.

Using and sticking to these rules will be an easy way to save time, reduce stress, and finish scholarship applications well before the deadline.  Remember, if used properly, recycling is not only good for the environment; it’s good for the scholarship application process as well.<,/p>

Derrius L Quarles is a 19-year-old freshman at Morehouse College. He hopes to go to medical school after he graduates with a degree in psychology and biology and a minor in public health, and to one day work on the public health policies of his hometown, Chicago, and beyond. To help him achieve those academic and career ambitions, Derrius has won more than $1.1 million in scholarships, including a full scholarship to attend Morehouse, since graduating from Chicago’s Kenwood Academy High School with a 4.2 GPA. Derrius was awarded a Gates Millennium scholarship and won a number of other highly competitive awards, many of which he found while searching for scholarships at Scholarships.com. He is the first in his family to attend college, and spent his childhood in the foster care system before becoming the “Million Dollar Scholar.” This is the fifth in a series of posts Derrius is writing for Scholarships.com on how he was able to fund his education, along with advice about the scholarship application process.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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Survey Shows Freshmen More Worried About Money, College Costs

Jan 21, 2010

by Scholarships.com Staff

Everyone knows institutions of higher education have been impacted by the economic downturn. Students have been affected too, in the worst case scenarios paying more for their college degrees or facing financial aid shortages. A survey released today further defined just how worried college freshmen are about money, the cost of college, and finding a well-paying job once they graduate.

The annual survey by the Higher Education Research Institute (HERI) at the University of California at Los Angeles polled nearly 220,000 first-time, full-time students at 297 four-year institutions. It showed that more students are relying on student loans to fund their educations and looking at schools that offer more financial aid opportunities. But there was also a mental shift. More students are concerned about getting good jobs after graduation, and how they're going to cover college costs in the first place. The survey also showed that fewer freshmen are majoring in business these days, with those numbers at their lowest since the 1970s. The recession could be to blame. Majoring in business may not seem as enticing as it once did as banks face folding or bailouts and the economy has yet to return to prosperous levels.

According to the survey:

  • 41.6 percent reported that cost was a "very important" factor in choosing which college to attend.
  • those reporting that an offer of financial aid was important in their college choice increased to 44.7 percent, up from 43.0 percent in 2008 and 39.4 percent in 2007.
  • 56.5 percent reported they were more likely to place high importance on choosing a college where graduates get good jobs, the highest level since the question was introduced in 1983.
  • 53.3 percent reported taking out loans, the highest percentage in nine years.
  • 4.5 percent reported having an unemployed father, more than at any other time in the history of the survey. Nearly 8 percent of students also reported that their mothers were unemployed, the highest percentage since 1979.

The respondents to the survey also seemed to have a feeling of social responsibility, perhaps due to not only the recession, but changes in the White House, or more simply, the idea that community service and volunteerism could make them better candidates on the job market:

  • 30.8 percent indicated that there was a "very good chance" that they would take part in civic engagement.
  • 56.9 percent who volunteered "frequently" as high school seniors indicated that there was a "very good chance" they would do so in college.

It's not a bad thing to worry about how you're going to pay for college. Often, tough decisions need to be made based on the financial aid available to you. Should you stay in-state, rather than pursue a degree at a private institution on the opposite coast? Should you consider community college to save money on those first two years? Finding money for college may seem daunting, but you do have options, whether that's being flexible in the college search or applying for as many scholarship and grant opportunities as you can.

Going to college doesn't have to break the bank or saddle you with tens of thousands of dollars in student loan debt. Check out the Scholarships.com free college scholarship search where you’ll discover you qualify for hundreds of thousands of dollars in scholarships in just a few minutes, then apply and win! It’s that easy!

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