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Top 10 Highest Paying Internships

February 18, 2014

Top 10 Highest Paying Internships

by Suada Kolovic

For a college student, an internship is viewed as a rite of passage, a box that must be checked, a prerequisite for future ambitions. And while obtaining an internship is a success in its own right, finding one where you’ll be compensated in something other than experience and a reference is a challenge…but not necessarily impossible. A new report from Glassdoor lists the highest-rated companies that not only pay their interns but pay them extremely well. Check out the top 10 companies that made the cut below (for the complete list, click here):

  • Exxon Mobil: Average Monthly Base Pay - $6,506
  • VMware: Average Monthly Base Pay - $6,435
  • Facebook: Average Monthly Base Pay - $6,197
  • Google: Average Monthly Base Pay - $5,910
  • ConocoPhillips: Average Monthly Base Pay - $5,779
  • Microsoft: Average Monthly Base Pay - $5,703
  • Amazon: Average Monthly Base Pay - $5,387
  • IBM: Average Monthly Base Pay - $5,295
  • BlackRock: Average Monthly Base Pay - $5,138
  • Yahoo: Average Monthly Base Pay - $4,983
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Tennessee Governor Proposes Free Community College

February 4, 2014

Tennessee Governor Proposes Free Community College

by Suada Kolovic

When considering the true cost of a college education, students must remember to factor in not only tuition but mandatory fees, room and board, books, supplies and living expenses. That is unless you're from Tennessee, where the governor has proposed free community college for all high school graduates. That’s right: All high school graduates in the state would have the option to attend a community or technical college for two years for free!

On Monday, Gov. William E. Haslam proposed using money from the Tennessee Education Lottery to fund an endowment that would cover all tuition and fees to two-year institutions for all graduating high school seniors. The proposal forms the centerpiece of his effort to increase the number of college graduates in Tennessee. "We are committed to making a clear statement to families that education beyond high school is a priority in the state of Tennessee," Haslam said. "Tennessee will be the only state in the country to offer our high school graduates two years of community college with no tuition or fees along with the support of dedicated mentors." In addition to the Tennessee Promise proposal, the governor laid out several other educational polices, including an expansion of a program meant to reduce the need for remedial math courses and a program to encourage high school students to take dual-enrollment courses. (For more on this story, click here.)

With the cost of a college education still on the rise, what do you think of Haslam’s proposal? Should all states that participate in the lottery consider this option? Let us know your thoughts in the comments section.

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Colleges Accused of Misleading Students About Financial Aid Applications

February 7, 2014

Colleges Accused of Misleading Students About Financial Aid Applications

by Suada Kolovic

Figuring out how you're going to pay for your college education can be daunting. And while no one would argue that filling out the FAFSA is an important piece of the financial aid puzzle, it seems that some colleges might be making the process more complicated...and costly.

Rep. Elijah E. Cummings of Maryland alleged this week that more than 100 universities – including dozens of elite and Ivy League institutions – may be violating the law by telling potential applicants that they have to spend money filling out an unnecessary form. In a letter to U.S. Education Secretary Arne Duncan, Cummings said 111 universities required a financial aid form developed by the College Board to be considered for any financial aid. Fifty-eight of the schools told applicants that they had to submit the $25 PROFILE form "in order to secure any type of financial aid, including federal student aid," Cummings wrote. The other 53 directed applicants to "submit both the FAFSA and the PROFILE to obtain federal financial aid, although they do not clarify what each form is used to assess." And while Cummings insists that these schools appear to be in violation of the Higher Education Act, some college officials have defended their use of PROFILE, stating that because it takes into account factors the FAFSA doesn't — like home equity and some business income — it allows universities to make fairer decisions on who needs aid the most. Meanwhile, Cummings has requested a meeting with Duncan to figure out what steps need to be taken to ensure that colleges are not creating unnecessary barriers to federal assistance. (For more on this story, click here.)

With all the outrageous fees students already must endure, what do you think of universities adding an additional one? Are you for filling out a form that costs you $25 if there is a chance you might get additional aid or against forking up more money than necessary? Let us know your thoughts in the comments section.

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How to Maximize Your Financial Aid Package

February 13, 2014

How to Maximize Your Financial Aid Package

by Suada Kolovic

Figuring out the bottom line when it comes to the cost of your college education is definitely a stressful part of the process. With everything that goes into determining your financial aid package (your parents’ income, your earnings and your family’s net assets), it’s important to understand that merit aid – aid based on a student’s attributes (academics, athletics, extracurriculars, etc.) – is available to student regardless of their “need.” New federal rules are blurring the distinction between scholarships awarded on merit and grants awarded because of a student’s financial need – for instance, a growing number of colleges now award “need-based” aid to students from families earning six figures! Who would have thunk it?! So, we’ve compiled a few helpful tips to maximize your chances for merit aid and increase your overall financial aid package.

  • Fill out the FAFSA. Federal rules have changed. College aid officials are now allowed to award need-based aid to students whose parents earned decent salaries last year but have recently been laid off, as well as make accommodations for a family’s unique circumstances, such as high medical bills.
  • Apply to schools where you’d rank at the top. While your dream school might be an Ivy League, you should apply to at least a few colleges where your GPA would put you in the top 25 percent of the student body.
  • Apply to schools that offer generous need-based aid. In the 2009-10 academic year, Louisiana College reported that 88 percent of students were receiving non-need based financial aid. Do the schools you’re considering boast the same kind of aid?
  • Do the research. If you’re interested in a college, find out what it has to offer when it comes to merit aid. You might qualify for more awards than you think!
  • Before making a final decision, compare net prices. Consider the cost of attendance in its entirety including tuition and fees, room and board, books and transportation. The school that offers the most in merit aid might not be the best choice; sometimes the college offering the largest merit scholarship might have the highest net price because its tuition is higher.
  • Don’t be afraid to negotiate. Believe it or not, you have negotiating leverage when it comes to your merit aid package. If you have received admission letters from two or more universities and your first choice has a higher net price than your second choice, contact that institution! Some schools might be willing to match the merit aid offered, which would provide you the opportunity to attend your first choice school for less money!
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Which Colleges Are Worth the Sticker Price?

Colleges with the Highest Return on Your Investment

March 28, 2014

by Suada Kolovic

With all this talk about possible Pell Grant cuts, acceptance rates plummeting and universities facing serious tuition hikes, which schools are worth the outrageous sticker price of about $200,000? According to PayScale.com’s annual survey of colleges with the highest return on investment rates, Harvey Mudd College tops the list with a 8.8% annual return. PayScale.com’s data is pulled from 1.4 million pay reports from persons who obtained bachelor's degrees in the last 20 years, for more on their methodology click here. Check out who made the cut below:

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Attention Students: 4 Warning Signs You’re Headed for Student Loan Default

September 3, 2014

by Suada Kolovic

With September officially upon us, millions of students across the country are heading back to college. With all the fun and excitement that goes into the fall semester, however, some may not have ironed out one major detail: how they're going to pay for it. For most college students – even those with impressive financial aid packages – loans are a necessary piece in their financial aid puzzle. And with college graduation and loan repayments coming up faster than you think, it's important to understand the warning signs that you may be headed toward defaulting on your student loans. Check out U.S. News and World Report's four warnings to heed below:

  1. You don’t know when your first payment is due: If you borrowed student loans, you are responsible for knowing when your payments begin, how much they are and where to send them...even if you don’t receive any notices with these details.
  2. You dropped some classes or dropped out of school: One common reason why some borrowers don’t know when their first payment is due is that they didn’t realize their repayment grace period was already winding down. For federal student loans, the grace period kicks in when students drop below half-time enrollment. Keep in mind that half-time enrollment is defined differently from school to school. And if you've left school altogether, you are still required to repay any loans you borrowed.
  3. You can’t afford your payments: The student loan grace period gives borrowers some time to figure things out before repayment begins...but you may still be looking for work or barely able to cover your living expenses (let alone expensive loan payments) after that period expires. If you borrowed federal student loans, you may be able to select a payment plan that decreases the amount you pay each month, perhaps based on how much money you make.
  4. You think you already defaulted: Borrowers often confuse delinquency and default. If you miss a few payments, your loan is likely delinquent and you can still do things to avoid the consequences. If you have defaulted, don’t give up! You can pull your loan into good standing by paying it in full, consolidating it or through rehabilitation.

For more tips on repaying your student loans and borrowing responsibly, head over to our Financial Aid section. And don’t forget to try and fund your education with as much free money as possible – a great place to start is by creating a free profile on Scholarships.com!

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On the Hunt for Merit Aid? Apply Here!

September 16, 2014

by Suada Kolovic

Here at Scholarships.com, we stress the importance of paying for your college education the best way we know how: with free money in the form of scholarships! And while scholarships might not fully cover your tuition and expenses, college applicants who aren't deemed financially needy in terms of their FAFSA should consider the importance of merit aid. It can make a huge difference in the schools they can realistically afford and students and families seeking this extra financial aid boost should consider researching schools more likely to dispense merit-based awards.

But with so many colleges and universities across the country, which ones are the best financial bets? Help has arrived in the form of U.S. News & World Report, which has compiled a list of the schools that awarded the highest percentage of merit-based funding to non-needy students during the 2013-14 academic year. (The stats do not include financially needy students who were given merit aid or students who received athletic scholarships or other tuition breaks.) Take a look:

High school students, does this data have you looking at these schools in a new light? Current college students attending one of the schools listed above, did merit aid make the difference as to whether or not you enrolled? Share your thoughts in the comments section. And as always, don’t forget to create a free Scholarships.com profile to get a personalized list of scholarship opportunities!

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Demand for College Degrees Grows, Study Finds

September 30, 2014

by Suada Kolovic

Reality check: For some students, heading off to college for four years isn't ideal. And while college isn't for everyone, an education should be. In order to stay competitive in the workforce, it's important to realize that there are opportunities in the form of both trade and vocational schools for students who don't see themselves attending classes on traditional college campuses...or are there?

According to a report by Boston-based labor analytics firm Burning Glass Technologies, more employers are demanding college degrees for positions that historically didn't require one. The shift is most significant for occupations traditionally dominated by workers without college degrees: For example, fewer than 20 percent of currently employed executive secretaries and executive assistants have bachelor's degree but now 65 percent of postings for such roles require the degree. Why? One reason may be that employers are requiring a bachelor's degree to narrow the applicant pool to a more manageable size. "For an individual employer, that may be an understandable step," said Matt Sigelman, CEO of Burning Glass Technologies, in a statement. "When everybody does it, however, this becomes a trend that could shut millions of Americans out of middle-skill, middle-class jobs." (For more on this study, click here.)

What are your thoughts on upcredentialing in the workforce? What problems do you see arising? Share your thoughts in the comments section. And don’t forget to fund your college education the right way – free! Create a Scholarships.com profile today and get matched with funding opportunities that are unique to you.

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10 Public Colleges with the Lowest Out-of-State Tuition

November 11, 2014

by Suada Kolovic

For the budget-conscious high school senior, it seems like a no-brainer to apply to the local state school for the best shot at affordable tuition. But that's not always the case: Depending on where you live, an out-of-state college may be even cheaper than your home state university. Don't believe us? Check out the list below from U.S. News and World Report for the top 10 public colleges with the lowest tuition for out-of-state students:

Did your prospective college make the list and does this information alter your interest in the school? Share your thoughts in the comments section. And don’t forget that even affordable college tuition can still be expensive! Try and fund your education with as much free money as possible – a great place to start is by creating a free profile on Scholarships.com, where you’ll get matched with financial aid that is unique to you!

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Report: UChicago’s Local Financial Aid Initiative Shows Promise

December 4, 2014

by Suada Kolovic

In October 2012, the University of Chicago launched UChicago Promise, an initiative aimed at helping high school students in the city of Chicago gain admission, pay for and succeed in college. The cornerstone of the program is the commitment from the university to eliminate loans from financial aid packages of students from Chicago who are admitted.

Recently, the University released a report on the first year of UChicago Promise that shows hundreds of students, parents and high school guidance counselors have benefitted from the initiative. Check out some of the highlights below:

  • Contributed to a 48.8-percent boost in the number of Chicago applicants to the University of Chicago
  • Saved Chicago families a total of $89,475 in application fees through a new automatic waiver
  • Coached 1,100 students and parents through workshops on college interviews, essay writing and financial aid
  • Served more than 250 public school students through academic enrichment programs, including Upward Bound and the Collegiate Scholars Program
  • Brought more than 500 middle school and high school students to the UChicago campus through GEAR UP, a national program aimed at increasing access to postsecondary education

To read more on the first year-in-review report, click here. Share your thoughts on the University of Chicago’s local financial aid initiative. Do you think more universities should follow this trend? Do you know of any that already do? Let us know. And don’t forget that affordable college tuition can be expensive. Try to fund your education with as much free money as possible – a great place to start is by creating a free profile on Scholarships.com!

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