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Today, going to college could cost as much as buying a new BMW every year, according to the Wall Street Journal. With ever-increasing college costs ranging between $120,000 and $200,000 (depending on the school), some politicians' higher education reforms are simply a "massive bailout wrapped in the promise of free tuition and relief from student loans."

College unaffordability has forced students into the growing $1.3 trillion national debt issue, with the average student owing $26,700. Where's this money going? Money is going towards grandiose campus facilities such as Purdue University's $98 million Cordova Recreational Sports center, which houses a climbing wall, vortex pool, and 25-person spa. Elsewhere, funding is being spent heavily on administration, promotions, athletics, and "noninstructional student services." There's little evidence that shows additional spending enhances the value of a college degree. Even after spending "more than half a trillion dollars from 1987 to 2005," one study notes that completion rates are declining, grade inflation is increasing, students are studying less, adult numeracy/literacy rates are declining and critical thinking skills are not improving.

Demand is strong for student loan forgiveness, as well as attaining "free" college. Such million-dollar proposed bailouts have "no new accountability measures" and will only dump the costs of higher education onto taxpayers, many of whom don't have a college education. Rather than having students invest and borrow money to go to the "wrong colleges to study the wrong subjects" - which doesn't actually prepare them with the necessary skills for the workforce - universities could be "smaller, leaner and more focused on actually teaching undergraduates." Roughly 40 percent of students are not graduating college within six years and the "college for all" mantra can be overused and pushed onto students who could alternatively attend trade/vocational schools, earn two-year and three-year degrees or certifications in professions that don't necessitate college degrees.

Avoid having to take out student loans as much as you can, by applying to and earning scholarships: money that does not have to be repaid.

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!

Donald Farish, Roger Williams University's President earns over $425K annually and wants you to stop blaming colleges for higher education's unaffordability.

What accounts for college unaffordability? According to Farish, it is the "concentration of wealth at the top," or "wealth inequality", which is interesting coming from somebody making almost 10 times the average American worker's salary. He does not however, believe in the "concerns about salaries of some presidents and the cost of DI athletics" that "continue to attract attention." Donald Farish served as President of Rowan University from 1998 until 2011, with an average salary of $300,000 - plus a $15,000 annual bonus. Currently, he is the President at Roger Williams University at a salary of over $427,000.

Farish believes that "wealth inequality is an issue that must be addressed if America is to continue to have a strong and growing national economy." This is coming from a man whom Rowan University bought out at a cost of $600,000, in exchange for his early resignation. Such buyouts, according to Executive Director of the Common Sense Institute of New Jersey, are common but this one “cost the full tuition and fees of 25 students each year to cover the cost of the buyout" and calls the practice of compensating presidents on their way out "unfortunate".

According to Victor Fleischer's published report "Stop Universities from Hoarding Money", wealthy universities such as Yale spend their enormous endowments primarily on compensation for private equity fund managers - roughly $480 million. Compare that to the $170 million spent on tuition assistance, fellowships, and scholarships spent on students; all the while Yale continues to charge its students $45,800 in tuition, room and board. Fleischer claims that this trend - which pays private equity fund managers more than students - exists at Harvard, the University of Texas, Stanford, and Princeton. The problem is that "we've lost sight of the idea that students, not fund managers, should be primarily beneficiaries of a university's endowment. The private-equity folks get cash; students take out loans."

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!

Talk is cheap when it comes to politicians' promises, but one thing that remains expensive is a college education. From vetoing a scholarships bill that would free up $721 million for community colleges and scholarships for low-income students, to killing the Senate Bill 180 which would require the New Mexico Lottery to provide $41 million to a college scholarships fund there has been no resolution to the budget stalemate since July 1, 2015. New America Higher Education has one resolution: out with the old, in with the new. That means removing federal loans, federal tuition vouchers, Pell grants, and tuition tax credits.

In their policy paper, "Starting from Scratch: A New Federal and State Partnership in Higher Education," New America Higher Education expressed their vision to reconstruct and repair the "broken system of financing higher education." The team plans to scrap the archaic system and replace it with a "federal-state financial partnership" where the government would dole money to states, which would go to colleges and universities - taking into account important factors such as enrolled low-income students. Students would only have to pay their Expected Family Contribution (EFC) and the state would be held accountable for student outcomes such graduation rates and securing employment. In addition to lowering tuition, the cost of living expenses such as room and board, transportation, and childcare costs would be lowered.

States would have to maintain their current funding as provided in their individual budgets, match federal funding by 25 percent, and be responsible for performance and costs. There would be a bonus to states that contribute more than expected and also, a bonus for colleges who enroll more than 25 percent of low-income students. What's the catch? The plan would cost roughly $38 billion annually, and states would have to contribute an additional $17.9 billion. The existing system has left about 7 million borrowers in default with their student loans and the report claims that "going to college has left them in a much worse position than if they had never enrolled."

The partisanship disaster continues as colleges and universities haven't received "operating money from the state since July 1," according to Celeste Bott of the Chicago Tribune. The MAP grant provides up to $5,000 in financial aid to students who demonstrate need, according to the Illinois Student Assistance Commission. Some claim the scholarships bill would snag money from social service providers who provide care for the state's "most vulnerable residents," or that states simply do not have the money to spend. Governor Rauner agrees that the school funding formula needs to be changed.

Do you support New America's Higher Education proposal? Leave your thoughtful comments below. Don't wait another day - take advantage of the available scholarships and learn more about grants and financial aid today.

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!

What makes February so lovely? It is Financial Aid Awareness Month, and since filling out the FAFSA is stressful - much like taxes - several higher education institutions and financial aid organizations have jumped on board to provide informational sessions for families and students as they navigate through, and apply for financial aid through the 2016-2017 FAFSA. According to the National Center for Education Statistics, the percentage of students applying for, and receiving financial aid for their college education at a four-year-degree-granting institution has increased from 80% to 85% from 2007-08 to 2012-2013. Because of this, the National Association of Student Financial Aid Administrators (NASFAA) will be hosting a new topic weekly through a social media campaign that allows parents and students to ask questions about the FAFSA. To participate, NASFAA asks families to send their questions via Twitter using the hashtag #FinAidFeb to receive tips and advice, as well as the common mistakes to avoid. The social media campaign will take place on Wednesday, February 3rd from 7-8 pm ET and Friday, February 5th from 1-2 pm ET. Those interested can simply follow @NASFAA on Twitter or visit them at their website for full schedule and details.

According to the Salisbury Post, help is on the way on "FAFSA Day" at Catawba's College Library, where financial aid officers and specialists are working with seniors and their families to complete the FAFSA. Between February 22 and February 26, local North Carolina State Employee Credit Union branches will also help students complete their FAFSA. Waubonsee Community College in Sugar Grove, IL is holding a similar series of events throughout February. In light of "FAFSA Frenzy", the Missouri Department of Higher Education is calling for an effort to educate and assist prospective college students, and Webster University is offering sessions on February 28 on its home campus, as well as at its St. Louis region on February 6 and 20. According to the school's statistics, more than 80% of its student population receives financial aid. The college is providing incentive for attending the event by offering attendees the chance to win a scholarship.

When attending any FAFSA informational session, bring your 2015 W-2 forms, and copies of your 2015 tax forms, if they're ready. If you haven't filed your 2015 returns yet, bring any statements of interest earned in 2015, any 1099 forms and other forms necessary to complete your taxes. Later on you may need to go back to your FAFSA and make corrections once the tax returns are filed. The IRS Data Retrieval Tool will help you make accurate corrections within a few weeks of your tax file date.

Tro Onink, CEO of Stratagee and an expert in financial planning, cautions parents about IRA contributions for 2015.Though it may lower tax bills for 2015, it affects the children's financial aid eligibility for the 2016-2017 year. As explained by Onink, individual retirement account (IRA) contributions is factored back to the adjusted gross income (AGI) when financial formulas are used to determine student's financial aid eligibility. When the expected family contribution is calculated, IRA contributions are factored into the adjusted gross income, plus HAS, 401k, 402b and other retirement contributions. He cautions that these formulas would "presume that they [parents] have used that money they're setting aside for retirement to pay for college instead." On the upside, you do not have to record the value of the IRAs as an asset. So what's Onink's main advice? If for example, you invest $10,000 into retirement plans in 2015, your children's financial aid amount could decrease by $2,500 in 2016-2017. Essentially, when you make an IRA contribution, you will be paying more than half the amount you save in taxes when it comes to college expenses. He advocates to save for retirement but be cautions that "just because your adjusted gross income is lower, your income for financial aid purposes will be inflated."

Read more on Financial Aid Information and Financial Aid tips this season as you fill out your FAFSA and don't forget to see how you can supplement federal aid with free money in scholarships.

Credit is attributed to Troy Onink, who has been featured by Forbes, InvestmentNews, myStockOption

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!

Understanding the financial aid process, much less filing a FAFSA, can be tedious and daunting. With over 130 questions and requiring more than 30 minutes to complete, students may procrastinate, or completely avoid completing a FAFSA. With pending changes for the upcoming years - such as an earlier deadline - some experts claim the process won't necessarily get easier or more affordable, if not done correctly. Terry Savage, an expert writer for the Chicago Tribune, claims the new FAFSA will be more "intrusive than federal tax forms because it not only asks about income but also the assets of parents and students." Savage outlines some tips and general information on how to prepare for the changes, including early application and knowing the logistics of 529s, financial aid, and FAFSA:

• Earlier application dates: Many people can recall the last-minute rush to apply for FAFSA and the anxiety that accompanies it. A big change in the FAFSA for 2017-2018 academic year is the earlier application. Students will be able to file as early as October 1, 2016, as opposed to January 1, 2017. Additionally, you will be able to use a FAFSA retrieval tool to directly and electronically access tax information from the IRS, after filing a 2015 tax return. The income you will report on your 2015 return will, in turn, affect your financial aid for the 2017-2018 academic year.
• 529 Plans: 529 plans are college savings accounts that are exempt from federal taxes and were designed to help taxpayers set aside funds for a designated beneficiary. While any U.S. citizen or resident alien of at least 18 years old may open a 529 account, beneficiaries are typically children, grandchildren or younger relatives. Assets in a 529 plan owned by either the student or their parents count as need-based aid but plans owned by grandparents or other people do not count as assets. If money is withdrawn from the accounts of grandparents or other relatives, there is a penalty in the following year's financial aid package. Savage recommends you do not withdraw from your 529 account until your junior year in college, after filing the FAFSA for that year. Withdrawing from the 529 is not penalized so long as you are paying for "qualified expenses," including tuition, room and board, books, and other miscellaneous fees. Withdrawing from a grandparent-owned 529 plan is considered direct income to the beneficiary. There is a 10 percent penalty and taxes for withdrawing money to cover any other costs, unless the student receives a scholarship, dies, or is disabled.
• Family assets preferred over child assets in financial aid scheme: UTMA custodial accounts are considered student assets - such as property, real estate, fine art, or future inheritances - which could have a large impact on financial aid eligibility. However a custodial 529 plan of a dependent student is treated as a parent's asset on the FAFSA - meaning less impact on the dependent students' financial aid eligibility. It is recommended that custodial accounts be spent for the child's benefit prior to the FAFSA filing year or transferred into the custodial 529 account.
• Income-driven assets: In addition to providing all income information on the FAFSA through parents' tax returns, assets such as capital gains also count as income. Savage notes that "selling stocks and taking gains" the year before filing can impact what the student will receive in financial aid. For example, taking $3,000 in capital losses can reduce parental income, Savage states. The result of student income will reduce financial aid on a "dollar-for-dollar basis" which consequentially may become a disincentive for students to work and support their education.

Take the time this winter break to review the FAFSA changes so as to be better prepared and gain the most in financial aid for your college education.

Credit is attributed to Terry Savage and the experts at the Federal Student Aid website. Savage is one of the country's most prominent advisers and a best-selling author on personal finance, corporate boardrooms, academia, the markets, and the economy. Federal Student Aid (studentaid.ed.gov) is a free website and source of information provided by the office of the U.S. Department of Education.

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!

If you've ever had to fill out a FAFSA for college, you may have felt as though you need an accounting degree to understand it, much less complete it. With over 130 questions and averaging 30 minutes to complete, the complexity and tedium of filing for financial aid has been a barrier for students in attending college or receiving the financial aid for which they qualify. The Department of Education announced an initiative Monday to simplify the process and beginning in October 2016, students and their families will be able to complete a simpler FAFSA application.

Currently, students must wait until after most college application deadlines to apply for federal aid - the new FAFSA amendments will enable application as early as October 1 and better align students with college deadlines. The current January 1 application opens after many college application periods have closed and students may not know their entire financial aid package before committing to a college. With the new amendments, students will have a better understanding of the actual cost of their college education. Federal Student Aid awards $150 billion in grants, loans and other types of financial assistance annually. Sadly, about 2 million students enrolled in college who would qualify for a Federal Pell Grant never applied for aid. With the new initiative, the plan to improve the process of applying for federal aid will include:

Do you think the new amendments to the current FAFSA will benefit students as they apply for financial aid earlier and with a simpler application? If you are interested in learning more about FAFSA, federal aid, grants and scholarships, read some of our tips on funding your college 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!

Chances are if you’re on scholarships.com, you probably care about boosting your application to scholarships or colleges. The standardized test can be a huge plus for good test takers or a major stressor for others. Here are some general guidelines to help you make your testing plan and decisions easier.

• Timing. There are many rumors about what dates have a better curve but essentially for the SAT or the ACT, it’s all about making the most of your studying. For instance, remember that if you schedule a test for January or June, you might also be studying for midterm and final exams. The May exams are also infamous because that’s when the Advanced Placement tests occur. However, many students take the subject tests that correspond with their AP classes during the May exam. It’s important to remember that not all subject tests are offered every exam date, so you’ll want to plan those accordingly. If you’re planning on taking the SAT, remember that the last date for the current version is January 2016. Finally, don’t wait too long to take the test. Many students do better their second or third time around, and you want to give yourself the chance to learn from your mistakes.
• Studying. The ACT and the SAT are two distinctly different tests as some students will see greater variation between test scores than others. The general word of caution is to take a full practice exam before you take the real test. Try waking up early one weekend and replicating the exam scenario as completely as possible; this will give you the best estimate of your score. Remember that simple things like reading the newspaper or a challenging book can improve your score as well.
• Stay Positive. Your score is not everything in your college or scholarship application. More and more schools are disregarding test scores in favor of essays, extracurricular activities and letters of recommendation. The worst thing you could do for your application is put all of your bets into your SAT or ACT score. So if you find yourself a terrible test taker, that’s okay. Find something else that you’re fantastic at, and make it noticeable. One of the best pieces of advice I got was that if a school turns you down because of your test scores, you probably don’t want to be there to begin with.

You are not a test score. Always remember that.

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!

Under the Obama administration, the motto “work hard, play harder” is continually being redefined to “work hard, pay harder”. According to The Wall Street Journal, a new plan is being finalized that will allow millions of low-income Americans to slash their monthly student-debt bills, in turn raising taxpayer costs for the government’s mushrooming student-loan portfolio. This week the Education Department proposed to expand eligibility for the Pay As You Earn program, which sets borrowers’ monthly payments as a small share of their income.

Education Department officials report that six million more Americans will become eligible this autumn for PAYE. The program caps monthly loan payments at 10 percent of discretionary income, defined as the amount above 150 percent of the poverty level. Well-paid graduates and those working minimum-wage jobs will be paying equivalent proportions of their income towards their student debt. While low-income borrowers who have incurred an unusually large federal debt reap the benefits of the revised program, a majority of college graduates and taxpayers will continue to suffer.

With a current outstanding student debt of $1.2 trillion, the White House continues to give people an economic incentive not to repay a loan. Because these loans are issued regardless of the borrower’s ability to repay, opponents of PAYE say the loans fund basic living expenses with tens of thousands of borrowers consuming aid even when they’re not enrolled for courses. Universities have also taken advantage of the flawed program, offering to pay student’s monthly bills under PAYE while simultaneously raising tuitions. The loans are turning into six-figure grants, debts the taxpayers incur.

Is the Obama Administration setting a double standard, promoting income equality, yet essentially paying young people not to pursue higher incomes? Is PAYE a program that allows those enrolled to take advantage of the system, while punishing those who work hard for their money?

Working after high school IS NOT getting you a financial jump on your college peers. You are instead creating self-inflicted wounds to your livelihood when you could be one of the six million new applicants prospering from Obama Hoods thievery. It makes absolutely no sense not to apply for financial aid with curriculums that allow you to maintain a job, programs that ease (or even lift) the burden of financial debt, and give you the opportunity to earn a degree to fulfill your childhood dreams! No individuals of any race, age, gender, or income class have an excuse to not get their degree, seeing expert assistance is as quick as completing your Scholarship.com profile.

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!

The financial aid process can be a daunting one but if you're planning on attending college any time soon, you should know that there are tons of federal student aid options available. From Pell Grants to Perkins Loans to the FAFSA, the funding is out there but your eligibility to receive aid depends on your level of need and, subsequently, how much aid you are eligible to receive. Translation: For the majority of students, loans are inevitable. But don't fret just yet because President Obama announced the Student Aid Bill of Rights initiative to help student borrowers with the challenging student loan process.

What it does:

• Helps borrowers keep track of their student loans. For years, consumer groups and colleges have been warning that borrowers with more than one servicer are losing track of their loans — and winding up in default as a result. The Education Department acknowledged those concerns last fall, when it adjusted some institutions' "cohort default rates," or the share of borrowers who default on their loans within a certain time frame.
• Make it easier for borrowers to file complaints involving their student aid. Right now, borrowers can file complaints with a variety of agencies, including the Consumer Financial Protection Bureau, the Department of Veterans Affairs, and the Defense Department. But there isn't a centralized website where all borrowers can lodge their grievances against lenders, servicers, debt collectors, and colleges.

What it doesn't do:

• Prevents students from overborrowing in the first place. Many of the challenges that student-loan borrowers face in loan repayment are the result of unmanageable debt. After all, if borrowers could afford their loan payments, they wouldn't have to turn to income-based repayment or deal with debt collectors.
• Overhaul student-loan debt collection. They want the government to handle debt collection itself. But the president's plan merely talks of "raising standards" for student-loan debt collectors, and it’s pretty vague about what those higher standards would look like.

For more on the president's Student Aid Bill of Rights, head over to The Chronicle of Higher Education. . What do you think of the president's attempt to ease the financial burden associated with student loans? Share your thoughts in the comments section. And don't forget, going to college doesn't have to break the bank! Check out our Financial Aid section for more info on federal funding and while you're there, conduct a free college scholarship search where you'll get match with countless scholarships, grants and other financial aid opportunities!

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!

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!

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!