Skip Navigation Links

by Scholarships.com Staff

On August 1, the new GI Bill will kick in, bringing with it increased education benefits for people who have served in the military since 2001. At least in theory.

The new GI Bill covers an undergraduate student's full tuition and fees at any four-year state college anywhere in the country, which is a more generous benefit than the veteran aid students received under the old GI Bill. Eligible students will also receive an additional monthly housing stipend and, thanks to the recently approved HEA Technical Corrections legislation, these benefits won't be counted as income for purposes of determining federal student financial aid eligibility.

The GI Bill also includes a new program that gives veterans benefits at private colleges and allows schools to match federal VA benefits for their students. More than 1,100 private colleges signed up to participate in the Yellow Ribbon Program, which should allow veterans to attend a larger number of institutes of higher education at little cost.

However, the formula for determining benefits under the Yellow Ribbon Program has been mired in controversy since its announcement, and as the deadline for the GI Bill to go into effect nears, many people are looking at the wide disparity in Yellow Ribbon benefits nationwide and scratching their heads.

Veterans attending private colleges can receive up to the full amount of tuition and fees at the most expensive public college in the state from the government, with their institution agreeing to assist with additional tuition costs at Yellow Ribbon schools. But the amount the federal government will cover varies widely from state to state, with government benefits ranging from just over $2,000 to just under $40,000, depending on how the department of Veterans Affairs calculated the maximum in-state tuition in each state.

These differences have caused some private schools to limit their Yellow Ribbon participation, meaning many veterans may still be on the hook for most of their college costs if they choose to attend private colleges. The wide variation in benefits also can cause confusion and uncertainty for veterans considering attending private universities but unsure of the financial aid they'll be eligible to receive.


Comments

by Scholarships.com Staff

A recent college graduate who has failed to find a job since April has sued her alma mater. The student, Trina Thompson, filed suit against Monroe College, a career-oriented college in New York, asking to be reimbursed the full cost of her tuition, which was $70,000.

Thompson's suit claims that the Monroe College career center failed to do enough to help her find a job after graduation. As a result, Thompson is struggling to make ends meet and, according to the New York Post, facing the prospect of homelessness as her student loans are about to come due. While Thompson has been regularly submitting job applications and making use of resources such as job listings available through her college's career center, this has not been enough to find work. So she is suing Monroe College for failing to provide her with the leads and career advice she says she was promised.

While the merit of this particular lawsuit remains to be determined, it does raise questions about what students should expect from college, as well as what services colleges should provide and can promise to their students. Especially right now, when jobs are scarce and competition is fierce, current students and recent graduates are dealing with greater stress and desperation as they try to navigate the job market. Meanwhile, career centers have fewer contacts and resources to work with, as fewer places are actively recruiting or even hiring recent college graduates. As a result, many college career counselors are finding themselves nearly overwhelmed, as more students need to rely on more services for longer to try to find post-graduate employment.

Finally, this lawsuit serves as a reminder for college-bound students of more good questions to ask during their college search: What are the job placement rates for the school and the department, and what career services are offered to help alumni find work? Considering these things while choosing a college may make all the difference when it comes time to find a job after graduation.


Comments

by Scholarships.com Staff

Following the lead of U.S. News, several other publications have entered the college rankings game in recent years. Yesterday, Forbes revealed its second annual list of America's best colleges. Ranking first was the U.S. Military Academy in West Point, NY, followed by Princeton University. While Princeton typically does well in college rankings, the appearance of West Point in first place is something of a surprise in the college rankings world. Forbes touts its rankings as being focused on a college's ability to meet students' needs, a factor that includes post-graduate student loan debt (20 percent of the ranking), and the U.S. Military Academy is tuition-free.

As is the case with other college rankings, these should be taken with a grain of salt. Forbes' rankings also draw heavily on data from Ratemyprofessors.com (making up 25 percent of each school's score), a website whose primary metrics for rating professors include "hotness" and "easiness." Similarly, a portion of the Forbes ranking is influenced by the number of graduates appearing in publications like Who's Who in America (12.5 percent), whose significance and methodology have been questioned repeatedly, at least once within the pages of Forbes itself.

Much of the information included in the Forbes rankings is useful, though, such as graduates' average salaries, the likelihood of graduating in four years, and graduates' average student loan debt load. However, when checking out these or other rankings, be aware that the criteria used by publications or the sources they use to determine their rankings may be irrelevant to you and your needs. Think carefully about which factors are important to you when choosing a college and base your choices on those. There are many free tools to help you in your college search, so it's a wise idea to look beyond top colleges lists when making your decision of where to apply.


Comments

by Scholarships.com Staff

Student loans have received a lot of attention lately, especially in light of the ongoing recession. As average student debt increases and post-graduate job prospects become less certain, borrowers are struggling to make payments and avoid default on their loans. Meanwhile, lenders are tightening credit requirements or opting out of the student loan industry altogether. While Congress and President Obama are contemplating additional reforms to student lending on top of recent fixes that have provided some help to borrowers, relying on loans to pay for school is still a scary idea for many students.

However, there are some innovative private sector solutions students may want to consider. Alternative lending programs, such as peer-to-peer lending have received much publicity lately, as has a new program called Student Choice that makes it easier for students to find private loans through credit unions. On top of this, BridgeSpan Financial has launched a new service called SafeStart, which acts as insurance for students' Stafford loan payments.

In exchange for a down payment of $40 to $60 per $1,000 they've borrowed, SafeStart will extend an interest-free line of credit to students facing financial hardships in the first five years after graduation, allowing them to continue making payments on their Stafford loans and avoid defaulting or seeing loan amounts balloon as interest accrues during a forbearance period. SafeStart will cover up to 36 loan payments in the first 60 months of the loan, provided a student's loan payments exceed 10 percent of their monthly income.

Currently, SafeStart is only available for Stafford loans, and not PLUS loans or private loans. Stafford loan borrowers already have several other options for repayment if they find themselves struggling, including the new federal income-based repayment plan, which allows borrowers to only make payments if they meet certain income requirements and forgives remaining loan balances after 25 years. Students can also apply for temporary forbeareances if they need, though interest on the loans will still accrue.


Comments

by Scholarships.com Staff

Rising unemployment rates and other symptoms of the ongoing recession continue to drive more people to attend college and look for ways to pay their bills, causing an uptick in state and federal financial aid applications. However, states are also hurting for money to meet financial aid requests and other budget demands. According to the Associated Press, 12 states have made significant cuts to state grant programs so far this year, with additional cuts likely. At least anecdotally, these cuts are already leading to more reliance on student loans, especially among groups that, according to a brief published this week by the College Board, may already be finding themselves overburdened with debt.

This week, the College Board released some new numbers on student debt loads and borrowing habits, culled from the National Postsecondary Student Aid Study, data released every four years by the Department of Education. Students at for-profit colleges are the most likely to borrow (96 to 98 percent graduate with some amount of loan debt), have the largest average debt loads at graduation, and are also some of the poorest college students (students at for-profit schools received 19 percent of the Federal Pell Grants disbursed in 2007-2008 despite making up only 7 percent of the college-going population). With additional sources of need-based aid drying up, these students may find themselves even more burdened with debt.

Students at other types of schools have also had to do more borrowing in recent years, according to the study. A full 59 percent of college students graduate with some amount of student loan debt, including 66 percent of bachelor's degree recipients. While most students took on manageable amounts of debt, 10 percent of students at four-year public schools, 22 percent of students at four-year private colleges, and 25 percent at four-year for-profit colleges borrowed more than $40,000 to attend college.

The average loan debt of undergraduate students in 2007-2008 was $15,123 (this is all students, not graduates), up 11 percent from the last time the survey was conducted. While increases in loan burdens were most modest at four-year state and non-profit colleges, reductions in state grant programs that are often earmarked for students at state colleges or nonprofit private colleges could send these numbers climbing.

You may want to consider statistics on student debt as a factor in your college search, but keep in mind that there are alternatives to borrowing. Scholarship opportunities exist for students at every type of college pursuing many different types of degree programs.


Comments

Textbook Buying Tips

August 13, 2009

by Scholarships.com Staff

Both for students starting college for the first time in the fall and for undergraduate students returning for another year, textbooks are too often an unwelcome and unexpectedly large expense. With your scholarship awards and hard-earned money already going towards tuition and room and board, it's difficult and unpleasant to have to shell out well over $100 for a book you're unlikely to even enjoy reading. There are ways to ease the pain of college textbook purchases, though.

Start Early and Get It in Writing: With classes starting up in August or September at most schools, your professors and the bookstore staff probably already know what books will be needed for fall, even if the textbook section of the campus bookstore isn't open for business yet. If you have your fall schedule figured out, now is a good time to start tracking down textbooks. First off, get a book list for each course as early as possible. This could take some doing, as not all professors in all departments have the courtesy to make book lists and syllabi available on a course website. Typically, professors have to get lists to the bookstore, though, and the bookstore is generally supposed to make this information available to students. If you can't find this information anywhere, don't be afraid to ask your professor through a polite e-mail.

Comparison Shop and Buy Used: With book list in hand, make note of prices at the campus bookstore, any off-campus textbook stores in the community, and popular websites that sell new and used books. Try to find the best deal, and be sure to factor in shipping costs and how long it will take the books to arrive. While the used book stacks are always the first to go at the bookstore, this isn't the only place used books are available. Check local used bookstores, as well as online retailers. I've found books for literature classes at library sales, yard sales, and thrift stores too, so be on the lookout if you happen across any of these. There's nothing like picking up a $15 text for 15 cents.

Find It for Free: Got friends or older siblings who may have taken similar classes? See if they hung onto their books and could lend you one or two. You may want to try posting flyers in your dorm and common areas on campus, or utilizing free online classifieds for your campus and community. The end of the semester is often the best time for this, but it could still pay off now. Don't forget the campus and public libraries, either, especially if you have the option of checking out a book for an entire semester, or if you will only need a book for part of the term. Most colleges participate in pretty generous inter-library loan programs, and some let students keep books or renew books for fairly substantial lengths of time. If you can't borrow, you may also want to look into renting. While not free, textbook rental services are less expensive than purchasing new books, and you don't have to worry about trying to sell the books back at the end of the semester.

Apply for Textbook Scholarships: Many scholarship opportunities allow winners to apply costs towards any school-related expenses, including textbooks. Additionally, several scholarship providers offer students money specifically for buying books. Some are local scholarships and others are major-specific, but they are out there! Do a free college scholarship search today to find some textbook funds.


Comments

by Scholarships.com Staff

A new book is shedding light on graduation rates at state colleges, and also causing a stir with its findings and recommendations. The book, Crossing the Finish Line: Completing College at America's Public Universities, was written by William G. Bowen, a former president of Princeton University, Michael S. McPherson, a former president of Macalester College, and Matthew M. Chingos, a graduate student at Harvard University. It shows many of the nation's top public schools are coming up short when it comes to graduating students in four years, especially low-income and minority students.

The book analyzes the four-year and six-year graduation rates of students at 21 flagship universities and 47 four-year public universities in Maryland, North Carolina, Ohio, and Virginia.  Among the findings, the authors reveal that flagship universities, typically the most competitive and prestigious in their state university systems, graduate only 49 percent of their students in four years, with other state colleges having even less success.  The six-year graduation rates for both sets of schools are better, but vary widely based on several factors discussed in the book.

Disparities by common demographic factors, namely race and socioeconomic status, were found in the research for the book, and were most pronounced among male students. However, the most striking differences come in terms of schools' selectivity. Some of these disparities include:

  • Graduation rates of 82-89% for the most selective and second most selective categories of schools and most competitive category of students (3.5+ high school GPA and 1200+ SAT score), but graduation rates of only 59% for the same category of students at the least selective schools.
  • Graduation rates of above 70% for all students at the most selective schools, regardless of GPA or test scores.
  • The disparity between the graduation rates of the most and least competitive students at the least selective schools was only 11 percentage points, while the disparity between students of similar ability at schools of different selectivity ranged 21 to 30 percentage points.
  • The least competitive group of students (GPA of less than 3.0 and/or SAT of less than 1000) did better at the most selective schools (71% graduation rate) than the most competitive students did at the least selective schools (59% graduation rate).

These results have many questioning the effectiveness of academic scholarships and other merit-based aid, especially in light of the University of Texas at Austin's recent decision to stop sponsoring the National Merit Scholarship Program. More so, though, they have experts, including the book's authors, wondering what is causing this disparity in graduation rates.

Price plays a huge role for students of low socioeconomic status, pushing them to attend the least expensive (and often least selective) schools or to opt out of four-year colleges entirely. Rising costs also could play a role in dropout rates among poorer students, so the availability of financial aid for all four years is crucial to graduation.

One of the biggest problems identified in the book is a phenomenon dubbed "under-matching." Highly qualified students are aiming low in the college application process, attending less selective schools with lower graduation rates when they could easily be accepted to and graduate from more selective schools with higher graduation rates. Students most likely to under-match are low socioeconomic status students whose parents did not attend or did not graduate from college. The higher a student's income and parents' level of education, the less likely the student is to under-match.

Based on this information, the authors suggest that schools focus their efforts on encouraging students to graduate in four years and to remain in school until they graduate. Keeping tuition low is a part of this, as are readjusting requirements to make graduating in four years more doable and, above all else, making it clear that students are expected to graduate in four years.

Graduation rates are gaining attention from other corners, as well. Washington Monthly included graduation rates in their recently released college rankings, and another study published this summer by the American Enterprise Institute compared graduation rates at colleges.The Education Department is also doing its part to make information on graduation rates available to students who complete the FAFSA on the Web.


Comments

by Scholarships.com Staff

As the start of the fall semester approaches, students across the country are finding themselves in a precarious position when it comes to financial aid. As we've previously mentioned, several states have been forced to make deep budget cuts this year, canceling or reducing funding for scholarships and grants, in some cases after award notices have already been sent to students. This has left students scrambling for last-minute student loans, and in some cases facing the difficult decision of whether to take a semester off while trying to procure alternate funding.

The Wall Street Journal and U.S. News both feature articles this week that offer up alternatives for students who have come up short on funding for the fall. While scholarship opportunities are still available for the coming academic year and should be pursued, students who need immediate sources of funding may want to check out private loans, peer-to-peer lending, and emergency loans and other aid offered by some universities and state agencies. Reducing to part-time enrollment or transferring to a cheaper school are also last-resort options that may be better choices than taking an entire semester off or putting tuition on a credit card.

An appeal to your college's financial aid office can also produce more financial aid, especially if your financial situation has changed since you completed the FAFSA, or if your parents were turned down for a federal PLUS loan. Additional loans, and even some grant aid, may be available if you ask.

In addition to trying to find new sources of funding, some college students are also petitioning their state legislators to get grant and scholarship funding restored.  Lawmakers in Utah have listened, promising to reinstate full funding to the state's New Century Scholarship program, whose awards they had previously planned to cut nearly in half. Students in Michigan also may yet get a reprieve from budget cuts, as the governor of Michigan and numerous state legislators are vowing to do what they can to keep the state's popular Promise Scholarship program intact.

Even if states manage to find funding for grants and scholarships this year, the next fiscal year could also prove challenging. Students in cash-strapped states who are planning to rely on state scholarships to pay for college may want to start looking into alternate funding now.  One of the best ways to do this is to start with a free college scholarship search.


Comments

by Scholarships.com Staff

As high school seniors put the finishing touches on their college applications and start gearing up for the financial aid application process, few are likely thinking about the prospect of leaving college before they finish a degree program. Yet many students will be faced with the prospect of taking time off from school or dropping out entirely. A growing body of research is addressing the question of why students leave college, and a new report has proposed some surprising answers. If you're planning to attend college or currently struggling to stay in college, it's definitely worth a read.

The survey was conducted by the research group Public Agenda, with funding from the Bill and Melinda Gates Foundation. More than 600 adults between the ages of 22 and 30, some who have finished college and some who haven't, were surveyed about the challenges they faced in attending college. The report addresses four myths about college dropouts: that most students go to school full-time and only leave because they're bored or unwilling to work, that most students receive adequate financial support, that most students go through a "meticulous process" of choosing their college, and that students who don't graduate make their decision after knowing and weighing the pros and cons of attending or leaving school.

The realities that correspond to the first two myths are especially striking. According to the survey, most students who drop out do so because they cannot balance work and college and can't afford to stop working, and many of those students are going it alone financially, without help from relatives or financial aid.

A full 54 percent of respondents listed "I need to go to work and make money" as a major reason they left school, with 31 percent saying they couldn't afford tuition and fees. By contrast, only 21 percent left primarily because they needed a break, and only 10 percent found the classes too difficult. Students who didn't graduate had a harder time managing costs besides tuition and fees (36% agreed strongly) and balancing work and school (35% agreed strongly) than students who managed to graduate (23% and 26%, respectively). Most students who left school planned to return, but feared that work and family obligations would keep them from enrolling anytime soon.

Students who ultimately dropped out were less likely than students who graduated to have any kind of financial support, including student loans. The majority of those who did not graduate said they could not rely on help from parents or relatives (58%), a scholarship or other financial aid (69%), or a student loan (69%) to help pay for school. By contrast, 66% of those who did graduate had family financial support, 57% had scholarships or financial aid, and 49% had some sort of loan.

This survey is part of a growing body of research on the relationship between work and college success. The results suggest that students who are able to pay all their bills while in school, work less than 20 hours a week, and focus their attention on classes are more likely to do well in school and more likely to graduate. This is one of many reasons to think carefully about paying for school and investigate scholarship options early.


Comments

by Scholarships.com Staff

Are you looking for an affordable college option, but finding yourself less than interested in huge state colleges? You might want to look into attending a HBCU. A new study by the United Negro College Fund finds that, on average, historically black colleges and universities charge much less than their historically white counterparts. The study found that not only do HBCUs charge 31 percent less than comparable institutions, but that their tuition and fees also rose more slowly than similar colleges.

The report compares total tuition charges at UNCF's 39 member institutions with comparable institutions for the 2006-2007 and 2007-2008 academic years. The average tuition and fees at the HBCUs was $20,648 for 2006-2007 and $21,518 for 2007-2008. In comparison, comparable institutions had total tuition and fees of $26,451 and $28,156 respectively. Their tuition charges also rose between 2006-2007 and 2007-2008 at a rate more than double that of HBCUs ($870 to $1706). Five of the HBCUs surveyed did not raise tuition at all, whereas all comparable institutions charged some amount more.

UNCF analyzed data from the National Center for Education Statistics Integrated Postsecondary Education Data System. Comparable schools were selected based on a variety of criteria, including Carnegie Classification, level of institution, degree granting status, and private or public status. However, as U.S. News' Kim Clark points out, the study did not take into account the net prices of these schools--the amount students can actually expect to pay. Many colleges and universities offer substantial scholarships and grants, especially private colleges where most students see significant discounts off the sticker price.  There are a variety of institutional and UNCF-sponsored scholarships offered specifically to students at HBCUs, as well as a number of African American scholarships that can help make tuition more affordable for students at these schools.

With or without financial aid, choosing to attend college at a historically black college or university can result in substantial savings. There are other benefits to attending HBCUs, as well, especially for students who may need extra support. Since many HBCUs serve students from diverse and often disadvantaged backgrounds, they have systems in place to better support students who might otherwise struggle in college. HBCUs also tend to produce students more appreciative of diversity, so if that's important to you, you may find your home at one of these colleges. Regardless of what you ultimately decide, it can't hurt to diversify your college search. By learning about and visiting a variety of schools, you're more likely to find the one that fits you best.


Comments

Recent Posts

Tags

ACT (19)
Advanced Placement (24)
Alumni (16)
Applications (76)
Athletics (17)
Back To School (72)
Books (66)
Campus Life (444)
Career (115)
Choosing A College (41)
College (918)
College Admissions (225)
College And Society (271)
College And The Economy (330)
College Applications (141)
College Benefits (282)
College Budgets (205)
College Classes (437)
College Costs (454)
College Culture (548)
College Goals (386)
College Grants (53)
College In Congress (78)
College Life (500)
College Majors (212)
College News (502)
College Prep (164)
College Savings Accounts (17)
College Scholarships (129)
College Search (109)
College Students (375)
College Tips (99)
Community College (54)
Community Service (40)
Community Service Scholarships (26)
Course Enrollment (18)
Economy (96)
Education (24)
Education Study (28)
Employment (36)
Essay Scholarship (38)
FAFSA (49)
Federal Aid (86)
Finances (68)
Financial Aid (361)
Financial Aid Information (38)
Financial Aid News (32)
Financial Tips (35)
Food (44)
Food/Cooking (27)
GPA (80)
Grades (91)
Graduate School (54)
Graduate Student Scholarships (19)
Graduate Students (63)
Graduation Rates (38)
Grants (61)
Health (38)
High School (128)
High School News (62)
High School Student Scholarships (143)
High School Students (258)
Higher Education (110)
Internships (525)
Job Search (167)
Just For Fun (96)
Loan Repayment (33)
Loans (39)
Military (16)
Money Management (134)
Online College (20)
Pell Grant (26)
President Obama (19)
Private Colleges (34)
Private Loans (19)
Roommates (99)
SAT (22)
Scholarship Applications (154)
Scholarship Information (141)
Scholarship Of The Week (227)
Scholarship Search (182)
Scholarship Tips (71)
Scholarships (361)
Sports (61)
Sports Scholarships (21)
Stafford Loans (24)
Standardized Testing (45)
State Colleges (42)
State News (33)
Student Debt (76)
Student Life (499)
Student Loans (130)
Study Abroad (66)
Study Skills (214)
Teachers (94)
Technology (111)
Tips (479)
Tuition (92)
Undergraduate Scholarships (35)
Undergraduate Students (154)
Volunteer (45)
Work And College (82)
Work Study (20)
Writing Scholarship (18)

Categories

529 Plan (1)
Back To School (351)
College And The Economy (463)
College Applications (244)
College Budgets (333)
College Classes (548)
College Costs (704)
College Culture (904)
College Grants (132)
College In Congress (123)
College Life (868)
College Majors (321)
College News (823)
College Savings Accounts (55)
College Search (382)
FAFSA (108)
Federal Aid (118)
Fellowships (23)
Financial Aid (638)
Food/Cooking (76)
GPA (277)
Graduate School (106)
Grants (71)
High School (480)
High School News (207)
Housing (172)
Internships (564)
Just For Fun (202)
Press Releases (1)
Roommates (138)
Scholarship Applications (183)
Scholarship Of The Week (302)
Scholarships (547)
Sports (73)
Standardized Testing (58)
Student Loans (220)
Study Abroad (60)
Tips (742)
Uncategorized (7)
Virtual Intern (531)

Archives

< Mar April 2014 May >
SunMonTueWedThuFriSat
303112345
6789101112
13141516171819
20212223242526
27282930123
45678910

Follow Us:

facebook twitter rss feed
<< < 61 62 63 64 65 66 67 68 69 70 > >>
Page 67 of 70