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Are College Students Borrowing Too Much or Not Enough?

Mar 7, 2012

by Alexis Mattera

Did you have to take out student loans in order to pay for all or part of your college education? Probably, as total student loan debt passed total credit card debt for the first time and is approaching the $1 trillion mark, but the bigger problem could be that college students who truly need to borrow are not doing so.

In a new analysis of student debt published in AEA’s Journal of Economic Perspectives, researchers Christopher Avery and Sarah Turner explain that overemphasis in news coverage of students drowning in debt is scaring people away from taking on healthy debt. They say that capital investment one takes on with a student loan is growing – males with college degrees make $600,000 more in their lifetimes than peers with only high school degrees – but just one in six full-time students at four-year colleges who are eligible for a student loan do not take one out. Why? The study cites rational self-control, short-sightedness and risk factors like the difficulty of predicting future earnings but also reveals that many loan-less students accrue debt by relying heavily on credit cards to cover educational expenses and half work more than 20 hours per week – a schedule that could hurt their chances of graduating on time or at all.

There’s much more to the study here but what’s your take on student loans? Is borrowing worth it if it's done responsibly or is it best to use loans as a last resort in funding your education?

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!

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Romney on College Costs

GOP Candidate Offers Little Comfort to Current and Hopeful College Students

Mar 6, 2012

by Alexis Mattera

If you want to go to college but can’t completely afford it, don’t expect Mitt Romney to help you bridge the financial gap.

During yesterday’s town hall meeting in Youngstown, Ohio, Romney made it clear that he would not promise to give students government money to cover higher ed costs. The advice he did offer regarding colleges was blunt – pick an affordable option, get scholarships, join the military and graduate early – and very different than the words of President Obama during his third State of the Union address, which discouraged tuition increases and aimed to double the amount of federal work-study jobs. Though this is a man who pushed for state-funded four-year tuition scholarships while serving as the governor of Massachusetts, Romney’s mantra is now firmly “don’t expect the government to forgive the debt that you take on”...or protect you from it, for that matter: He supports the House Republican budget which would cut Pell Grants by at least 25 percent.

What do you think of Romney’s position regarding higher ed funding?

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!

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Loop. Perl. Scholarship of the Week!

Earn $2,250 for College Through Beans for Brains

Mar 5, 2012

by Alexis Mattera

Knitting and crocheting aren’t just for Grandma and Great Aunt Millie anymore: It’s the perfect activity to help students earn money for college!

The Beans for Brains Scholarship is open to graduating high school seniors, undergraduate, graduate and professional school students in any course of study who also know how to knit or crochet. For the coming award year, there are five $2,250 scholarships up for grabs, one of which is guaranteed to go to a Reno/Tahoe local; the other four awards will be distributed evenly among the four U.S. regions. Awards are merit-based and applicants will be judged on GPA, extracurricular activities and essay quality.

Beans for Brains Scholarship applications and project photos must be submitted electronically by April 15th by 11:59 p.m. PST. For more information about this and other scholarship opportunities, conduct a free scholarship search today!

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!

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Private College Group Lists Steps Toward Enhancing Affordability

Mar 1, 2012

by Suada Kolovic

With a growing number of students questioning whether the cost of a college education has grown too high to be justified, the reality of students selecting non-traditional paths has finally garnered a response from colleges: According to a list published by the National Association of Independent Colleges and Universities, private nonprofit colleges and universities are unveiling lots of affordability measures in the coming academic year including tuition cuts, freezes and guarantees, three-year degree programs, four-year graduation pledges, curricular changes to help students graduate on time, partnerships with community colleges, lower tuition increases and scholarship assistance. Check out some of the highlights below (and to see the full list, click here):

Baylor University - Waco, TX: In the upcoming academic year, Baylor will begin the pilot phase of the new Baylor at MCC Co-Enrollment Program with McLennan Community College. Students in the program will attend the first year or two at MCC then move on to graduate from Baylor.

Roosevelt University - Chicago, IL: Beginning this fall, Roosevelt and nearby community colleges will offer students the opportunity to complete associate degrees and matriculate to Roosevelt at a frozen tuition price point across four years.

Simmons College - Boston, MA: Simmons will start offering 3+1 programs this fall that will allow students to receive both bachelor's and master's degrees in just four years.

University of Pennsylvania - Philadelphia, PA: UPenn is increasing total undergraduate charges by 3.9 percent for 2012-13, the second lowest increase in 44 years. The school is also increasing its financial aid budget by 7.7 percent over 2011-12.

Wentworth Institute of Technology - Boston, MA: Wentworth will debut its first three-year baccalaureate degree program this fall.

The list will be updated regularly as more 2012-13 campus measures are announced, NAICU said. Does this information have you reevaluating your college and financial choices?

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!

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Should You Commute to College?

Feb 24, 2012

by Kara Coleman

Traditionally, most college students live in dorms or apartments on or near their campuses to get the full “college experience.” But before you sign that rental agreement, you might want to consider living at home and commuting to school.

We’re all familiar with the stereotypical college student – eating Ramen noodles for every meal and taking out student loans to pay for books and tuition – but that doesn’t have to be you! My goal is to graduate from college debt-free so I live at home with my parents and commute to a university about 30 minutes away. Because I live at home, I am able to save myself rent and utility expenses and use the money I earn from my job to pay cash for my tuition and books. Some students prefer the feeling of independence that comes with living on your own (I mean, if you live in your parents’ house, you live by their rules!) but not taking out student loans will mean financial freedom after I graduate and get a real job.

The downside to living so far off-campus is that I’m not as connected to events and happenings at school as the students who live there are. It’s not always easy to make it to meetings and events when commuting from the next county but by no means does it deprive me of the college experience: I still attend football games, plays and seminars at my university, and hang out with friends between classes.

Is living home and commuting right for you? While it’s certainly not for everyone, it’s definitely an option that I encourage students to consider while making housing plans for the upcoming school year.

This summer, Kara Coleman graduated from Gadsden State Community College with an Associate of Arts degree. She is currently studying communications with concentration in print journalism at Jacksonville State University Kara's writing has been featured in Teen Ink magazine and she is a children's author through Big Dif Books.

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!

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Studying Abroad Without Breaking the Bank

Feb 23, 2012

by Liz Coffin-Karlin

In my last article, I talked a lot about language classes at school and how you can use those skills in your own cities. But honestly the best way to practice a foreign language is to immerse yourself in it so in this column, I’m going to talk about studying abroad – but cost effectively.

Like with real estate, the costs associated with studying abroad depend on location, location, location. While your parents didn’t have a lot of study abroad options outside Europe, the world is changing and becoming more global every day; by changing that dream European vacation into a jaunt to a different continent, you can save a lot of money and have a unique experience. I studied abroad here in Buenos Aires, which at the time was about $10,000 cheaper than an equivalent program I could have done in Barcelona. Plus, my study abroad program was about a month and a half longer, meaning I had a lot more cultural immersion than I would have had with the program in Spain.

Also, think about if you really need the college credits you’ll get abroad. If you can just go for a summer and give up the academic courses or if you’re ahead on credits and can take a semester off, it might be worth it to check out volunteering abroad programs aimed at young people. Generally, the prices are significantly lower for a few months of building houses than for university classes; however, the experience is very different than taking university classes with native students (which is what I did...and loved) so think about what you’re really looking for in an abroad experience before choosing.

Finally, there are ways to actually make money while you’re studying abroad! Many countries are looking for English teachers and it’s worth checking out expatriate websites to see if anyone needs a babysitter who is a native English speaker. Similarly, if your language skills are good enough, there are lots of translation jobs out there – just check Craigslist like I did!

Liz Coffin-Karlin grew up in Sarasota, Florida where the sun is always shining and it’s unbearably hot outside. She went to college at Northwestern University and after studying Spanish and history, she decided to study abroad in Buenos Aires. In college, she worked on the student newspaper (The Daily Northwestern), met people from all over the world at the Global Engagement Summit and, by her senior year, earned the title of 120-hour dancer at NU’s annual Dance Marathon. She currently works in Buenos Aires on freedom of speech issues but is thinking about returning to the U.S. for a job in urban 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!

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Sixty-Two Schools Meet Students’ Full Financial Need

Feb 22, 2012

by Alexis Mattera

Wouldn't it be amazing if that super expensive college you were just accepted into said, "Hey there, new friend – thanks for all your hard work saving, scrimping and scholarship searching but we’ll take it from here, financially"? It can happen...kind of.

When a student fills out the FAFSA, a figure known as the expected family contribution (EFC) – the amount a student or family can reasonably spend on one year of college – is calculated using family income, number of children, amount of assets and other factors. There is sometimes a gap between the EFC and the final cost of college but 62 schools have reported to U.S. News that, on average, 100 percent of their admitted full-time undergraduate students' financial need was met for fall 2010 by some combination of aid (work-study, merit scholarships, grants, subsidized loans, etc.).

Now, we're not going to list every single college and university that reported these claims (you can check out U.S. News' site for that) but we will say that some well-known schools like Yale, Vanderbilt and Grinnell – the latter of which has never failed to meet full need for a student in 20 years, according to financial aid director Arnold Woods – have made the cut. Way to go and keep up the good work!

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!

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DePaul Takes the Guesswork Out of Transferring

Feb 21, 2012

by Alexis Mattera

For any student thinking about transferring, there’s always the worry that the credits they’ve worked so hard to achieve will be worth nothing at their new school...any student except those transferring to DePaul University, that is.

According to Lois Bishop, DePaul’s director of community college partnerships, transfer students at DePaul have great grades and high graduation rates but many have failed to take prerequisite courses or accumulated credits at their previous institutions that won’t count toward their bachelor’s degrees. In order to make transferring as educationally- and cost-effective as it can be, the school created the DePaul Admissions Partnership Program to help transfer students earn their two-year credentials and bachelor’s degrees on time. Students in the program are guaranteed a spot at DePaul if they finish community college with a 2.0 GPA and receive $2,000 a year after transferring if they achieve a 3.0. They also lock in bachelor’s degree requirements if they enroll within three years of starting the program, have access to DePaul advisers while at the community college to ensure they take the right classes for their eventual majors and can earn reverse credits toward associate degrees. (Check out additional details from Inside Higher Ed here.)

Since the program’s launch last year, DePaul has partnered with Richard J. Daley College, Kennedy-King College, Malcolm X College, Olive-Harvey College, Harold Washington College, Truman College, Wright College, College of DuPage, Harper College, Moraine Valley Community College and Oakton Community College but hopes to expand the opportunity to more schools and students. What do you think of the DePaul Admissions Partnership Program? Would a program like this appeal to you if you were thinking about transferring?

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!

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Change the World with This Scholarship of the Week!

Microsoft Imagine Cup Deadline Approaching

Feb 20, 2012

by Alexis Mattera

The world’s toughest problems will be addressed one solution at a time. But who will lead the change? Compete in the Microsoft Imagine Cup and you’ll join thousands of high school juniors and seniors from around the world who are stepping up to the challenge of global change...and the chance to earn $25,000 for college.

For the Imagine Cup, students can choose from three team competitions — Software Design, Game Design: Xbox/Windows, and Game Design: Phone. If you are already signed up to compete in one of the three competitions, you can increase your chances to share your world-changing ideas by signing up to compete in the Kinect Fun Labs, Windows Metro Style App, Windows Azure or Windows Phone challenges.

There are multiple deadlines approaching so be sure to check out the Imagine Cup website for more details. Get involved, stand out, raise your skills and find additional scholarship opportunities through our free scholarship search!

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!

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MythBusters: The Study Abroad Edition

Feb 14, 2012

by Darci Miller

Hello from the beautiful city of London! I’ve been here for a month and if I’ve learned anything, it’s that the study abroad experience is just as wonderful as everyone says it is. It’s also given me the chance to put some study abroad myths to the test.

Myth #1: Study abroad is 90% partying, 10% studying. This certainly depends on what kind of student you normally are and what kind of lifestyle you lead at your home university. Europeans do go out more than Americans but “going out” often means drinking a pint with some friends at the local pub and not necessarily getting all dolled up and going clubbing. And once assignment deadlines start looming, you are going to have to hit the books.

Myth #2: It’s too much money. It’s very easy to study abroad in a financially responsible way. If you go through a program hosted by your home university, any financial aid you have will (or should) transfer. After that, it’s all a matter of using your money in a smart way. Also, check online and with your study abroad office to see if there are study abroad-specific scholarships you can apply for. I got $4,500 from Miami’s study abroad office and it’ll be funding all of my travels and then some!

Myth #3: It’s dangerous and/or scary. It’s drilled into our heads before we leave that pickpocketing is a big threat in Europe but as long as you’re smart about your belongings, international cities are no more dangerous than cities in America. And living in a new country is certainly a jarringly different experience but it’ll only change you for the better.

Myth #4: Europeans all dress a certain way and you need to fit in. Everyone in London looks like they’ve stepped out of a fashion magazine – well-dressed and attractive – so if I wear a Miami t-shirt to class, I stick out like a sore thumb. It’s ok, though: Regardless of how you dress, people will know you’re American as soon as you open your mouth.

Myth #5: You’ll have more free time than you know what to do with. I’m taking four classes and each is two hours per week with Tuesdays and Fridays off. I’ve become a champion napper but I’ve also done a ton of exploring. You’re abroad for a short time – don’t waste it!

Darci Miller is a New Yorker studying journalism and sport administration at the University of Miami. When she’s not writing for the school newspaper, you can find her at the gym, either working or working out. She loves all ‘80s pop culture (the cheesier the better!), and glues herself to her TV when the Olympics are on. She dreams big, and believes the sky’s the limit!

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!

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Scholarships.com’s “You Like Me…You Really Like Me” Facebook Scholarship is Back!

Feb 14, 2012

by Suada Kolovic

We always love hearing from our users so why not let your voice be heard and potentially earn $1,000 or a Kindle for college in the process with Scholarships.com’s “You Like Me...You Really Like Me” Facebook Scholarship! Love our scholarship search? Tell us why. Is our financial aid section really helping you out? Send us an example. Think our college prep section is the bee's knees? Give us a shout out. Awards will go to the users that are making the best use of Scholarships.com’s many resources as determined by our team – impress us!

If you’re new to Scholarships.com and unfamiliar with its contents, take a tour and check out everything we have to offer. Our site is teeming with info – from figuring out the puzzle that is the FAFSA and strategies for winning scholarships to living with a roommate and preparing for an internship – so if you like us (really like us), tell us why.

Step 1: “Like” Scholarships.com on Facebook.

Step 2: Post on our wall how Scholarships.com is helping you with your scholarship search. Once you do this, you are automatically entered to win a $1,000 scholarship or a Kindle for college.

Step 3: You may enter as many times as you want over the course of the contest but please limit your comments to one per day. You must also have a valid Scholarships.com account and adjust your Facebook privacy preferences to allow Scholarships.com to message you should you win. The Scholarships.com Team will then determine which comment best exemplifies what our site is all about and which applicant is using our resources most effectively.

This scholarship competition is offered by Scholarships.com and is in no way sponsored, endorsed or administered by, or associated with, Facebook.

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!

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