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The Perks of Work-Study

by Brittni Fitzgerald

Working part-time while in school has its benefits because you are getting real work experience but if you don’t want the headache of balancing an outside job and school, there is another option: work-study.

Work-study allows you work on campus but the employer works with your school schedule. They understand that your first priority is being a student; off-campus part-time jobs typically do not have this extra benefit and are not as flexible with your work schedule and school schedule as a work-study job can be. Some work-study programs even allow days off during midterms and finals so you can study, compose papers and have an overall lower stress level.

As for compensation, part-time job and work-study positions usually pay similarly because of the minimum wage laws observed in most states. The downfall with having a part-time job that is not located on campus and you have to drive back and forth to campus for class – with today’s gas prices, why drive to work when you can work from campus? – and once you secure a work-study position, it's likely you can keep it until you graduate. Talk about job security!

Now that you see why work-study can be more valuable than working a part time job, find out what the work-study options are at your school and check out this post from Kara Coleman, another Scholarships.com virtual intern, about finding the right place to work on campus.

Though she moved from Fremont, Calif., to Chicago at the age of 5, Brittni Fitzgerald will always remember the sun and fun of California life. She is the youngest of six children and is currently attending Chicago State University. There, Brittni is an accounting major and an active member of the Student Government Association but also a published poet (in 8th grade, her work was published with the Illinois’s 2004 “Celebrate! Young Poets Speak Out”). Brittni enjoys running, swimming, dancing, singing and shopping. Her motto is “Live Life Loud.”


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The Best Financial Aid Policies in Higher Ed

by Alexis Mattera

Did you know that more than 70 colleges across the country have replaced loans with grants? That’s right: Schools are offering more free money to entice students to enter their hallowed halls, meaning they will not be saddled with the often-dreaded student loan payments after graduation. What institutions come out on top? Here are a few of the best aid policies, courtesy of the Washington Post’s Daniel de Vise:

For de Vise’s complete top 12, click here. If your school made the cut, are you reaping the financial benefits? If your school is not represented, how are you paying for your degree?


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UC Students to Face Additional Tuition Hike

UC Board Approves 9.6-Percent Increase

July 18, 2011

UC Students to Face Additional Tuition Hike

by Suada Kolovic

With the start of the fall semester just weeks away, University of California students can look forward to yet another tuition hike – a 9.6-percent increase, to be exact. On Thursday, the Board of Regents passed a $1,068 hike on top of a previously approved 8-percent hike for 2011-2012 school year. The regents voted 14-4 in favor of the second increase to cope with the $650 million cut in state funding for next year.

Undergraduate and graduate tuition for California residents will increase to $12,192 a year, not including room and board or campus fees. Now sure, that may not seem like much for college tuition but that’s a $1,890 (or 18 percent) increase from the amount UC undergraduates paid the previous year and more than three times what they paid a decade ago.

Leigh Mason, a fourth-year student and student government activist at UC San Diego, said the timing of the tuition increase so close to the fall term has families scrambling. “For a family and student to find that, means it's not only hard but for some impossible,” said Mason, of San Jose. “Why not go to each UC and cut some overhead before coming to us for more revenue?”

According to UC officials, financial aid and tax credits will cover the increased tuition for many families earning less than $80,000 a year and the tuition increases won’t be imposed this coming school year on many families earning less than $120,000 annually. What do you think of the timing of the tuition hike approval? Is it fair for families to face another increase in tuition so close to the start of the fall semester?


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Debt-Ceiling Deal Spares Pell Grant Program

by Suada Kolovic

Unless you’ve taken residence under a rock for the past few weeks, you’ve heard about the debt ceiling crisis. Thankfully, the White House and Congress have reached a deal to raise the nation’s borrowing limit and shrink the federal deficit which avoids many of higher education’s worst-case scenarios, namely cuts to Pell Grants, the end of subsidized student loans or a government default that would leave student financial aid and other funding for colleges in limbo.

Here’s the breakdown: The agreement would cut $1 trillion right away and create a committee to reduce the deficit by another $1.5 trillion by November. If approved in Congress, it will avert default on the nation’s debts and ensure that the government has enough money for federal benefits, including student aid. In layman’s terms, the bill would provide $17 billion for the Pell Grant program but the measure would only be temporary. Because House conservatives oppose tax increases, it is likely that the committee charged with reducing the deficit will favor spending cuts over revenues increase, putting Pell Grants and other student aid programs at risk for cuts in the near future.

Do you think slashing funds for higher education is problematic? Let us know what you think.


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Debt Deal Not So for Graduate Students

by Suada Kolovic

If you’re a graduate student or considering graduate school, listen up: The debt deal reached by Congressional leaders and President Obama would make graduate school much more expensive.

According to the agreement, Congress would scrap subsidized federal loans for graduate students in an effort to trim the deficits. These loans don’t charge students any interest on the principal of student loans until six months after students have graduated; if they’re eliminated, some students will have to start paying back loans while they’re still in school. And if that isn’t bad enough, Congress will also ax a special credit for all students who make 12 months of on-time loan payments. The changes would take place July 1, 2012 and would save the government $21.6 billion over the next 10 years, according to the Congressional Budget Office.

For graduate students who do qualify for the maximum amount of subsidized loans, this new agreement could tack on thousands of dollars to the already staggering cost of going to school. The reason behind the changes is the theory that the money saved by the student loan cuts would help pay to keep Pell Grants, which so far are maintained at a maximum grant of $5,550 a year for some 8 million poor students. “Full funding for Pell Grants is absolutely essential to fulfilling the president's goal of the U.S. once again having the highest proportion of college graduates in the world by 2020," said Pauline Abernathy, vice president of the Institute for College Access & Success.

Those considering graduate school, will these changes affect your decision to attend?


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Pell Grants, the Debt Ceiling and You

by Kara Coleman

If you’re one of the more than nine million undergrads who depend on Pell Grants to pay for school, you have probably been pretty anxious over the past few weeks.

This past February, the United States House of Representatives passed a Continuing Resolution which would slice the federal budget drastically. One of the programs to be affected by the cut is the Pell Grant program. The maximum amount of funds available to college students would be lowered from $5,550 to $4,705 and the changes were set to take effect for the 2011-2012 academic year.

Students were able to breathe a sigh of relief when the Pell Grant program, which has long received bipartisan support from the Senate, was able to avoid major cuts after all. The debt-ceiling bill passed earlier this week will limit overall discretionary spending to $1.043 trillion in the 2012 fiscal year. Since that’s about $7 billion below the current level of spending, how will students be able to receive their maximum Pell Grants? Grad students will be the ones taking the hit. At the moment, graduate students with federally subsidized student loans don’t have to be concerned with interest until after graduation but under the new plan, interest on these loans will begin to accrue while they are still working towards their degrees.

National Economic Council director Gene Spurling says of the bill, “This is a compromise budget, but one that we believe makes the necessary room for the most important investments in winning the future in innovation and research and education.”

How do you feel about these changes? For those with dreams of advanced degrees, are you already researching alternate funding options for graduate school?

Kara Coleman lives in Gadsden, Alabama, where she attends Gadsden State Community College. She received the school’s Outstanding English Student Award two years in a row and is a member of Phi Theta Kappa. She plans to transfer to Jacksonville State University in August 2011 to study communications with concentration in print journalism. Kara’s writing has been featured in Teen Ink magazine and she is a children’s book author through Big Dif Books. In her spare time, Kara enjoys reading, painting, participating in community theater and pretty much any other form of art.


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Student Loan Delinquencies Continue to Rise

by Suada Kolovic

While credit card debt, mortgage debt and auto loan debt have all steadily decreased since the fall of 2008, the same cannot be said for outstanding student loan debt, which has climbed 25 percent since the start of the financial crisis. Not only has student debt increased, but more often than not these loans aren’t getting paid off on time. The problem is that students take out sizable loans to pay for tuition to only be met with bleak prospects of employment after college. Those lucky enough to secure a job can also expect lower starting salaries: The median starting salary for a member of the class or 2009 or 2010 is $27,000, down from $30,000 just a couple of years ago.

The debt ceiling deal complicated things a step further by adding additional federal loan provisions. One section of the deal changed the way interest is collected on federal loans for graduate students, meaning that borrowers will start accruing interest on their loans before they’ve graduated. That being said, earning a college degree is still a significant advantage when entering the job market. The Labor Department released a report stating that for workers 25 and over with at least a bachelor's degree, the unemployment rate in July was 4.3 percent, compared with 8.3 percent for workers with "some college," and 9.3 percent for workers with just high school diplomas.

Soon-to-be college students, do you fear crippling student loan debt? What steps are you taking to prevent becoming a statistic?


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Federal Mandate: All Schools Must Offer Net Price Calculators by October 29th

by Suada Kolovic

Here at Scholarships.com, we understand that trying to figure out how much a college education will actually cost you and your family is pretty confusing. With everything that goes into your financial aid packagegrants, loans, scholarships, etc. – the real cost of a college education is muddled in there…somewhere. But fear, not college bound students! All that’s about to change thanks to a mandate by the federal government: All colleges and universities receiving Title IV federal student aid must have net price calculators by October 29th.

According to U.S. News and World Report, the U.S. Department of Education instated the mandate in order to “provide a clearer view of the difference between the total cost of tuition and fees – commonly referred to as sticker price – and the net price, an estimate of the cost subtracting scholarships and grants.” Most students generally receive some institutional aid so the better they understand how much an institution is offering as whole, the better prepared they are to compare the financial aid packages offered by different schools.

What do you think of the federally implemented net price calculators? Do you think it will be an essential piece of the funding your college education puzzle?


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The Impact of Merit Aid

October 19, 2011

The Impact of Merit Aid

by Alexis Mattera

Wherever you are in the financial aid process, you’ve probably heard the term merit aidfinancial aid based on students' academic and other merit rather than financial need – and its increasing popularity over the last decade or so. What you may not know, however, is the impact this trend has had on students seeking need-based aid.

According to a new report by the Education Department's National Center for Education Statistics, state and institutional financial aid for low-income students has dropped significantly as merit aid has increased. From 1995-96 to 2007-8, the proportion of merit aid recipients in the highest quartile of family income rose from 23 percent to 28 percent, while the proportion of merit aid beneficiaries from the lowest economic quartile fell to 20 percent from 23 percent. (See more statistics here.) The report also suggests that many institutions have embraced merit aid because they believe this type of award will entice middle- or high-income applicants to attend their school over others (and pay more money to the school as a whole during the time they are enrolled) instead of offering financial assistance to low-income students who truly need the funds to attend college.

What’s your stance on merit aid? Does it help more than it harms in higher education or vice versa?


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The Fight Against Federal Student Aid Fraud

by Alexis Mattera

Firefighters. Police. Ghostbusters. Your mom. There are certain people you instinctively contact when you need assistance and the same holds true for the federal government. When the Department of Education noticed there was something strange in the neighborhood regarding federal student aid, they knew just who to call.

Less than a month after releasing a report detailing how organized fraud rings were exploiting distance education programs, the ED contacted colleges across the country urging them to develop additional ways of identifying threats to federal funding. Schools were encouraged to combat potential fraud rings by monitoring groups of students using the same IP or email addresses to apply and participate in online programs, paying closer attention to students living outside the schools' normal coverage areas and delaying the disbursement of federal funds or releasing said funds in multiple disbursements. In addition to the steps colleges are taking internally, Secretary of Education Arne Duncan said the department will be working with Congress and schools "to ensure we have all the tools we need to prevent criminal elements from defrauding federal student aid dollars."

Do you think colleges are doing enough to prevent federal student aid fraud?


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