December 19, 2007
The whole “college graduates earn $1 million more than non graduates over their lifetime” stat is getting a bit trite. I’ll give you a few more if you’re not convinced that college is a worthwhile investment.
College graduates enjoy greater career security
College graduates can offer their children a more secure financial future
College graduates are healthier
College graduates are more likely to contribute to society
Anyway, you get the picture. The problem isn’t that the whole “follow your dreams” thing makes no sense. The problem is affording those dreams and affording the time and preparation it takes to follow them. Most of us don’t make enough money to loll around devoting our days to perfecting our sculpting skills and sharpening our 3 point shots. Even those with less risky dreams can’t always afford to test the waters, especially if the schooling required to get those jobs is too expensive and time consuming. That’s why so many students find themselves having to compromise their initial career goals after realizing their dream jobs won’t allow them to pay off student loans. Let’s just say that the need for qualified teachers isn’t caused by a disinterested public.
Sorry, I didn’t mean to be gloomy. I swear there’s a silver lining. Financial aid in the form of government grants and outside scholarships is readily available to students in difficult situations. Without a cloud of college debt hanging over your head, “The Road Not Taken” may suddenly become an option. The financial aid information found at Scholarships.com will help you familiarize yourself with the FAFSA, government grants, corporate scholarships, private scholarships, the ins and outs of student loans and myriad other financial aid opportunities. Whether you’re interested in preliminary information or ready to get down to business by finding scholarships, we can help you do it.
If you’re not convinced, you can take a tour of our site. Visit our homepage, and take a sort of “Tour de Scholarships.com” if you will. We can help you see how conducting a free college scholarship search will help you find scholarships and grants that, based on the information you provide, you're eligible to receive. Find New York scholarships, scholarships for graduate students, scholarships for minorities, poetry scholarships, music scholarships—you name it, we’ve got it. With information about more than 2.7 million scholarships and grants, Scholarships.com offers more than you’ll know what to do with. If you’re not convinced yet, just take the tour. Like the search, it’s free. You’ve got nothing to lose, and a world of financial aid opportunities to gain.
January 8, 2008
With the Iowa election safely behind us, U.S. citizens will soon come to realize that the rest of the country also gets to vote. Yes, it’s true. Citizens in the other forty-nine states can also voice their opinions on key issues. And if Bill Gates has it his way (and he’s been doing well so far), education will be one of those issues.
By donating $30 million to the bipartisan group Strong American Schools, the billionaire is hoping to make education a central matter in the 2008 election. With Bill’s $30 million and another $30 million to its name, the Strong American Schools “Ed in ‘08” effort is hoping to draw some attention, regardless of victorious party.
"Ed in ’08 " hopes that the future president will work to increase teacher salaries, extend school days (I probably lost some of you there) and decrease dropout rates. In addition to helping primary and secondary school students and educators, "Ed in '08 " will help students complete a college education. A total of $50,000 in college scholarships will be given away by Strong American Schools to help students in need of financial aid.
This is not the first donation Gates has made to educational efforts. His Bill & Melinda Gates Foundation has given away more than $3.6 billion in education grants. That doesn't take into account the billions it contributed to global development and health improvement efforts. Bill Gates scholarships have provided students across the nation with the money they needed to receive a postsecondary education.
For additional information about scholarships offered by Bill Gates and other providers, you can conduct a free college scholarship at Scholarships.com.
January 10, 2008
When word spread that Harvard would increase financial aid to both the middle and upper classes, tensions boiled at schools across the country. It was bad enough that Harvard attracted the best and the brightest from every nook and cranny—now they would be inexpensive too. Some guys have all the luck.
To be fair, Duke did beat Harvard in the financial aid race by being the first to announce their plan to pour an extra $13 million into the financial aid program, but their promise was simply not as impressive as the one offered by Harvard. When Duke capped their student loans to prevent debt, Harvard eliminated loans altogether—and replaced them with scholarships.
After Duke announced that parental contributions would no longer be expected from families who made less than $60,000, Harvard (which had already established that policy in 2006), announced that families making between $60,000 and $120,000 would only be required to contribute 0-10 percent of their income. Those making between $120,000 and $180,000 would only have to pay 10 percent of it.
Shortly thereafter, Stanford jumped on the bandwagon by saying that they too would do more to make their school affordable. According to The Stafford Daily, the school made plans to increase their need-based aid by 15.2 percent. The change would save the average parent $2,000 each year.
The trickle down effect also influenced other schools. Among those with New Year’s resolutions involving financial aid boosts are the University of Pennsylvania, Tufts, Haverford and Swarthmore.
Of course, not everyone gets to benefit. It’s easy to be a philanthropist when you have large endowments in the bank, which not all schools can boast. Students at colleges and universities with less money or larger student bodies were not as satisfied with their financial aid offices. According to The Michigan Daily, the University of Michigan at Ann Arbor would not only leave their policies as they are, they would continue—like many other colleges—to raise their prices. So much for that financial aid revolution we've all been waiting for.
January 11, 2008
This year has not been a good one for college financial aid officials. The problems began when New York’s Attorney General Andrew Cuomo spearheaded a seemingly endless number of investigations into whether student lenders and financial aid officials had been teaming up at the expense of students. Then there were the stories about study abroad advisors receiving trips by convincing students to travel, and then there were those of athletic departments allowing lenders to use their logos for profit. If the words “financial” and “college” were in the same sentence, the things in between weren’t good.
But a new year has arrived, and with it, hope for a better financial future in higher education-- which is exactly what’s expected. Based on new reports from Illinois State University’s Grapevine Project, state tax appropriations for higher education are expected to rise and give hope to students worried about high costs and low scruples.
North Dakota is expected to experience the greatest percentage change from last year, increasing their yearly state tax appropriations for higher education by 19.1 percent. Next on the list are Louisiana, Mississippi, Alabama and Arizona, each of which has raised their higher education appropriations by 14 to 15 percent. California, while not promising a particularly large percentage increase, is the one expected to appropriate most, over $11 million. With the exception of Rhode Island (which plans to lower appropriations), every state is creating this year's budgets with higher education in mind.
January 15, 2008
In the wake of a student loan scandal that has made families weary of financial aid officials, lenders and the National Association of Financial Aid Administrators (NASFAA), the financial aid industry is eager to demonstrate a willingness for change--especially NASFAA.
The massive financial aid organization representing students and financial aid officials at more than 3,000 schools across the nation has made it clear that they are reevaluating the way their organization is run. Like numerous colleges, NASFAA has adopted a new code of ethics that will govern the way they work with student lenders and students.
In addition to the code, NASFAA has announced the appointment of a new president and CEO to replace Dallas Martin, the president who, after 32 years of work, retired amidst scrutiny of ill relations with lenders. Newly appointed President Dr. Philip R. Day has previously served as the chancellor of City College of San Francisco. He has also been the president of Beach Community College, Cape Cod Community College and Dundalk Community College. In a NASFAA news report, Dr. Day stated that he was, “committed to advancing NASFAA’s mission.”
January 16, 2008
An audit released by the Department of Education’s Office of Inspector General on January 9, 2008 points to problems in financial aid disbursements. Based on audit results, over $1.5 billion in financial aid was awarded to students whose FAFSA responses were either questionable or made them ineligible for aid.
Stated problems included Pell grant overpayments, awards exceeding loan eligibility, citizenship questionability, lack of Selective Service registration and awards offered to students with drug convictions.
Over $812 million was said to be disbursed to 86,246 students who had not resolved their citizenship confirmation problems. More than $447 was offered to males not registered with the Selective Service and over $3 million to students convicted for drug-related matters.
Officials from the Federal Student Aid Department responded by stating that the, “Risk suggested by the report is overstated.” They also claimed the audit had not taken into account additional security measures the department used to minimize errors.
January 17, 2008
It’s no secret that student lenders have had a rough ’07. After an investigation by New York Attorney General Andrew Cuomo revealed that student lenders had been forming illegal agreements with colleges that promoted their services, the spotlight was cast on negative aspects of student borrowing.
Even though newly established ethics codes are likely force the lending industry to clean up its act, students are not likely to have better borrowing experiences. The poor housing market has not only affected those looking for mortgages, but also those in need of student loans. To be eligible for loans and loan consolidations, students will soon need proof of greater savings and higher credit scores. According to a CNN report, even students who show promise may see their interests rates increase by an estimated 1 percent.
At the same time, the rewards they receive for paying on time are expected to decrease. After the Higher Education Access Act of 2007 minimized student lender subsidies offered by the government, numerous lenders minimized their student benefits. The savings students were used to receiving for good payment track records are expected to curtail or disappear altogether.
As always, students have other options. Debt can pose a heavy burden on college graduates, so loans should be used as a last resort. Instead, students can use scholarships to diminish the costs of a postsecondary education. By conducting a free college scholarship search at Scholarships.com, students will have access to a database containing information on more than 2.7 million college scholarships and grants. Just about everyone can find awards they are eligible to receive.
January 18, 2008
Tuition hikes and complaints about illegal behavior on the part of financial aid officials and student lenders have put the pressure on colleges to dip into their endowment funds. With new reports showing that endowment returns are on the rise, these pressures are likely to increase.
According to the Chronicle of Higher Education, a recently released statement by Commonfund, an endowment manager for more than 1,900 colleges and nonprofit organizations, has shown that returns were averaging 16.9 percent in 2007, up from 10.6 percent the previous year.
Unlike one-time student scholarships, endowments are used to annually award money to college students. These funds are kept intact by investing the original donation and using the returns to provide students with yearly scholarships.
News of funding bounty is likely to prompt legislators to put additional pressure on schools with large endowment funds. Wealthy colleges, some of which are said to have accumulated endowments in excess of $1 billion, are being criticized for keeping their money locked up during a time when student debt is at an all-time high.
The problem with spending more, argue schools, is a strict endowment use policy. Many scholarship providers donate money on the condition that it be used only to assist a designated group of students. For example, a donor may choose to set up an endowment for the sole purpose of helping female students who play croquet, major in English and have a GPA above 3.5 (okay, maybe that’s a bit of a stretch). Point being, schools are legally bound to award scholarships to students that meet particular requirements.
It's hard to argue with that, but perhaps legislators can do something about the whole "legally-bound" part.
October 11, 2007
It’s been a long year for colleges across the nation. Aside from the student lender and college study abroad fiascos, investigators are looking more closely at the handling of endowments by colleges.
According to The Chronicle of Higher Education, many schools have accumulated large endowment funds, some in excess of $1 billion. This is tax-free money, and if investments are well-planned, interest will lead to annual gains.
Despite this, college tuition rates have soared across the country, and students are increasingly left with debts that sometimes mirror mortgages. A proposal that could allay this problem involves forcing schools with large endowments to spend about 5 percent of their money each year, or be subject to taxes. After all, endowments are meant to aid, not hoard.
But some schools say that this is not as easy as it may seem. People who donate often leave specific instructions for endowment spending. Money may be set aside, for example, for students who are financially needy and epileptic, or for those who conduct research in the hearing sciences.
Based on the written testimony of four higher education associations, the American Council on Education, the Association of American Universities, the National Association of Independent Colleges and Universities and the National Association of State Universities and Land-Grant Colleges, proposed legislation is based on inaccurate college endowment information.
According to the testimony, an average of 80 percent of endowment assets were restricted at public institutions in 2006, and 55 percent were restricted at private ones. That, of course, still leaves plenty of unrestricted funds that could be used to greatly relieve student needs. This, by the way, is what higher education associations already claim to do.
The issue is a bit of a slippery slope. Endowments could diminish if expenditure choices were left up to college officials. Plus, available money doesn’t necessarily translate into swimming pools of cash for directors to dive into.
Then again, tuition is getting out of hand, and storing large amounts of money when students have little choice but to take out excessive loans seems a bit immoral. Perhaps additional information is needed on unrestricted money expenditures and on how much is needed to maintain interest that would keep funds afloat.
October 18, 2007
It’s difficult to read a national newspaper–your choice–for longer than a week without coming across at least one article dealing with the environment. Why should a blog be any different? Jokes and polar bears aside, the environment is in need of some true student TLC, and students have plenty of it to give. Here are some things each of us can do to help.
1. Get educated Change starts with education. When searching for potential colleges, take into consideration the variety of classes offered. The more options schools have, the more you can dabble in various interests, especially the environment. By educating yourself about environmental issues, you can learn about ways to improve the situation, and what’s more, inspire others with your newfound knowledge. When you let people see how the environment affects them personally, you are more likely to convince them that their efforts and time are worth the investment.
2. Turn off the lights Saving money and energy is a click away, or a clap clap. Remember to turn off lights and appliances when you are through with them. Pay extra attention to air conditioners—open windows and running air conditioners make mother earth cry.
3. Live by the triple R’s Many of us already reduce, reuse and recycle to some extent, but most of us don’t really crack down on bad habits. By making the three R’s your mantra, you can reduce emissions, save some tree lives and fatten your piggybank.
4. Write to Congress This one is for the ambitious. Begin a petition in support of the Kyoto Protocol to be sent to Congress; or at least sign the one you make your friend create. So far, 172 countries and governmental entities have signed the pact limiting emissions. Somehow the U.S. is not one of them.
5. Take public transportation A great benefit to most on-campus travel is the abundance of public transportation. Taking the bus or train to school can reduce carbon dioxide emissions, and it can also free up some time to chat or study. It may not be the most convenient way of getting around, but improvement isn’t always convenient. For those who live close by, riding a bike, rollerblading or walking is also a good option.
6. Bring your own bags and mugs Try stuffing your groceries into a backpack, and bring mugs to coffee shops. (Or visit ones that offer in-house cups.) Some stores and coffee shops will even give you discounts for doing so.
7. Be laptop savvy in class You won’t look like you’re too cool for school by bringing your laptop to lectures—really. Students can save much paper by appending and saving posted online notes on laptops. By bringing a laptop to class, you can save trees and increase the likelihood of future legibility. Plus, editing is easier on a computer, and most students can type more quickly than they can write. If you’re not one of them, it’s about time you practiced.
There are plenty of things students can do to make a difference, and many are already hard at work. This year, Scholarship.com’s annual Resolve to Evolve scholarship prizes were awarded to students who wrote the best essays on problems dealing with standardized testing and the environment. See what the winners had to say on the topic, and check out Scholarships.com's new Resolve to Evolve $10,000 essay scholarship. You can also search our database for college scholarships and grants; begin finding money for college today!
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