Scholarship News

Survey Says Student Loans Steer Post-College Plans


September 25, 2008
by Scholarships.com Staff
In the wake of the credit crisis of the past year, innumerable articles have been written about the impact on the student loan industry, as several student lending agencies have been forced to stop offering federal and private loans to students or at least scale back their operations considerably.  Credit requirements have gotten more stringent for students whose lenders are still in business, and taking out a student loan is an even more time-consuming and uncertain process now than ever.

In the wake of the credit crisis of the past year, innumerable articles have been written about the impact on the student loan industry, as several student lending agencies have been forced to stop offering federal and private loans to students or at least scale back their operations considerably.  Credit requirements have gotten more stringent for students whose lenders are still in business, and taking out a student loan is an even more time-consuming and uncertain process now than ever.

At the same time, the economic downturn that's accompanied the credit crisis is highlighting the difficulty students are facing repaying all of these student loans--loans they're being told now that they're lucky to get.  Many students feel caught in a difficult position.  Do they take out student loans, go horribly in debt, but get to ultimately pursue a fulfilling degree and a potentially more fulfilling career?  Do they work full-time through school and take longer to get the degree and spend less time in their dream job? Or do they minimize debt by going to work sooner in a field that's easier to break into and requires less education?

According to the results of a survey published in the Boston Business Journal, that first option might not even be an option for many students.  An online poll of 336 recent college grads revealed that 47 percent said that their career pursuits were influenced by their need to make student loan payments, while 25 percent reported putting future education plans on hold in order to minimize debt.  While these numbers are the results of only one web survey, they still send a pretty clear message that avoiding student loans is a good idea when trying to pay your way through school.

Congress is advocating the wider adoption of college savings accounts, such as 529 plans, and more universities are retooling their financial aid packages to benefit more needy students and rely more heavily on scholarships than on student loans. Many of the nation's top colleges have made a commitment to helping all accepted students afford to attend, and other schools are offering larger scholarship awards to students who most need them, as well.  For example, Spelman College in Atlanta, Georgia just launched the Starfish Initiative, where anonymous donations are used to cover the remaining tuition balances of deserving seniors who might otherwise need to take out a substantial private loan or leave college.

But institutional aid and college savings accounts aren't the only options available to students.  A vast number of scholarship opportunities are out there, and despite the scholarship myths you may have heard, you can fund a substantial portion of your college education with such sources.  So start your scholarship search early and be persistent.  While soaring college costs and a weak economy may make it harder to pay for school, they don't mean you have to stay home or be overwhelmed by debt.  Do your research and find out what resources are available to help fund your education.

Getting more college financial aid doesn’t have to be a relentless search. Scholarships.com is totally free. Connect with our massive database of millions of college scholarships at any time by searching for awards in a variety of ways. Scholarships.com offers the quickest and easiest way to search for, apply to, and win college scholarships. Start making your college education affordable or perhaps even free, by conducting a free college scholarship search at Scholarships.com.

ADVERTISEMENT

Discuss

Share your thoughts and perhaps thousands of students will benefit from your unique insight on the subject!



If you can read this, don't touch the following fields


 
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
There are a lot of scholarships out there, some more conventional than others. Last time, we discussed a scholarship for students interested in becoming part of the chicken industry, but even that scholarship is far from the weirdest. There are some scholarships out there that have unusual criteria, to say the least. It may be based on something totally out of your control, like your height or last name. It may be awarded on how much you like a card game, or to whomever comes up with the most creative way to use a household product. It may even be for students interested in… potatoes? No joke, these five scholarships are some of the weirder ones on our site. Are you weird enough to apply?

Scholarships.com's Weird Scholarships Part Two

January 21, 2021 3:05 PM
by Izzy Hall
There are a lot of scholarships out there, some more conventional than others. Last time, we discussed a scholarship for students interested in becoming part of the chicken industry, but even that
There are scholarships for everything on Scholarships.com; for every major, every community and every kind of student. In fact, we even offer a scholarship for students interested in the chicken industry.

A Scholarship for Chicken?

January 19, 2021 10:16 AM
by Izzy Hall
There are scholarships for everything on Scholarships.com; for every major, every community and every kind of student. In fact, we even offer a scholarship for students interested in the chicken
Southern New Hampshire University plans to cut tuition costs by 50% beginning next fall. This deep tuition price cut is a silver lining to the economic pressure the coronavirus pandemic has put on students and their family’s ability to pay for college. SNHU says that making college accessible and affordable to a wider range of students is its primary goal in slashing tuition prices.

College to Offer Half Price Tuition for Fall 2021

January 7, 2021 10:44 AM
by Izzy Hall
Southern New Hampshire University plans to cut tuition costs by 50% beginning next fall. This deep tuition price cut is a silver lining to the economic pressure the coronavirus pandemic has put on
January is all about what’s new at Scholarships.com! From our new homepage to our fresh January scholarship offerings, we’re ready to explore all of what 2021 has to offer. Number one on our 2021 list? These fantastic January scholarships! A lot of scholarships open on January 1st and many have January 31st deadlines. Start your new year off right and get cracking on these eight scholarship opportunities before they’re gone!

New Year, New You, New Scholarships

January 5, 2021 1:27 PM
by Izzy Hall
January is all about what’s new at Scholarships.com! From our new homepage to our fresh January scholarship offerings, we’re ready to explore all of what 2021 has to offer. Number one on our 2021
We’re all looking forward to finally putting 2020 behind us on New Year’s Day. Though we could not have guessed what 2020 would bring us just a year ago, we can look towards the future year with a little more hope in our hearts – as well as take a look at some great scholarship opportunities that will come due during the upcoming months! Athletes, animal lovers, artists and writers – there’s a scholarship opportunity here for you to put on your 2021 calendar. Let’s ring in the new year with a list of great scholarships to start applying to today!

Look Ahead: Our 2021 Scholarship Preview

December 29, 2020 3:10 PM
by Izzy Hall
We’re all looking forward to finally putting 2020 behind us on New Year’s Day. Though we could not have guessed what 2020 would bring us just a year ago, we can look towards the future year with a
A free scholarship search at Scholarships.com can hook you up with so many options to win free financial aid towards college costs. There are quick and easy scholarships, essay scholarships, and even scholarships based on artistic portfolios and musical performances. When juggling scholarship applications, college apps, and high school classes, students may want to know – which scholarships should they apply for first? Let our guide on how to prioritize scholarship applications help get you organized.

Guide to Prioritizing Scholarship Applications

December 17, 2020 2:23 PM
by Izzy Hall
A free scholarship search at Scholarships.com can hook you up with so many options to win free financial aid towards college costs. There are quick and easy scholarships, essay scholarships, and even
HBCU Heroes, a non-profit organization dedicated to providing Historically Black College and University (HBCU) students and schools with scholarships and resources, is hosting a charity Esports tournament on Wednesday, December 16th. Rather than a tip-off on a basketball court, pro athletes and gamers will compete on the virtual courts of NBA2K. A planned $50,000 will be awarded in scholarships, prizes and collegiate Esports lab funding to HBCUs.

Charity Raises Money for HBCUs with Esports Tournament

December 15, 2020 11:34 AM
by Izzy Hall
HBCU Heroes, a non-profit organization dedicated to providing Historically Black College and University (HBCU) students and schools with scholarships and resources, is hosting a charity Esports
Tonight is the first night of Hanukkah, the eight-day festival of lights celebrated each winter by Jewish families. During Hanukkah, menorahs are lit, latkes are fried, dreidels are spun and chocolate coins are eaten. If you’re celebrating Hanukkah this year, take some time to apply to these eight Jewish scholarships – one for each night! You’ll give yourself a chance to win a “present” of free financial aid for college.

Celebrate Hanukkah with Eight Jewish Scholarships

December 10, 2020 1:48 PM
by Izzy Hall
Tonight is the first night of Hanukkah, the eight-day festival of lights celebrated each winter by Jewish families. During Hanukkah, menorahs are lit, latkes are fried, dreidels are spun and