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Sixty-Two Schools Meet Students’ Full Financial Need

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!


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DePaul Takes the Guesswork Out of Transferring

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?


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Studying Abroad Without Breaking the Bank

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.


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Should You Commute to College?

February 24, 2012

Should You Commute to College?

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.


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Private College Group Lists Steps Toward Enhancing Affordability

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?


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Loop. Perl. Scholarship of the Week!

Earn $2,250 for College Through Beans for Brains

March 5, 2012

Loop. Perl. Scholarship of the Week!

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!


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Romney on College Costs

GOP Candidate Offers Little Comfort to Current and Hopeful College Students

March 6, 2012

Romney on College Costs

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?


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Are College Students Borrowing Too Much or Not Enough?

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?


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IL Professors' Children Could Lose Tuition Benefit

by Alexis Mattera

There have been strides taken to ease the financial burden of higher education but for every state that limits college credits to keep degree costs down or entire college system freezing its tuition, there’s another school increasing its fees and cutting benefits. The latter could soon happen in Illinois, as lawmakers are weighing whether to eliminate tuition discounts for the children of professors and other university employees.

The legislation would get rid of this prized benefit, which allows faculty and staff members who have been employed at public universities for at least seven years to receive half-price tuition for their children. More than 2,000 college students take advantage of this perk each year and advocates of the bill say the state cannot afford to continue to offer the discount because it costs the Land of Lincoln about $8 million annually. Bill sponsor State Rep. Luis Arroyo also questioned the lack of income cap on who can use the waivers (for example, a college president earning a six-figure salary could pay far less for their child to attend college than a lower-income family would) but university officials say the discount is an important tool for recruiting and retaining top faculty members.

Does the possible end to this tuition benefit impact you in any way? How are you covering the costs of your own college education?


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Just the (FAFSA) Facts, Ma’am

Tips and Tricks for Filing This Oft-Dreaded Application

March 9, 2012

Just the (FAFSA) Facts, Ma’am

by Radha Jhatakia

For those of us who cannot afford large out-of-pocket expenses for college, financial aid is our only option. Many, if not all, universities require their students to fill out the Free Application for Federal Student Aid – aka the FAFSA – which uses your family’s finances and taxes in order to best determine how much aid you get. It can be confusing but it is definitely worth your time to file the application.

Depending on the state of the school you attend and live in, the FAFSA has different deadlines. States offer different grants and scholarships as long as you qualify and apply by the stated deadline and private schools also have different deadlines for private funding which can be found on their websites. The dates for states can all be found on the print out form on the FAFSA’s website. Remember to use this official government website – other sites charge fees.

The FAFSA requires you to have a federal PIN number. To apply for one, request one from the FAFSA website. (Make sure to do this even if you don’t have your tax returns, as the PIN number sometimes takes some time to receive.) Also, a new procedure that the FAFSA has is the IRS data retrieval tool, which takes the tax information directly from the IRS database and filters it into the FAFSA. This option not only makes life easier for those filing the FAFSA but it helps college financial aid offices, as they won’t require you to turn in additional documents to verify if the information is correct.

Always try to have yours and your parents' tax returns completed as soon as possible to have your FAFSA completed on time; however, since required documents like W-2s and other federal papers often aren’t available when you need them, file the FAFSA and select the option “Will File” rather than “Already Completed” for the question asking if you have already filed the tax returns. Use the tax information from the previous year so that you can have it completed by the deadline and once your tax returns are complete, go back into the FAFSA and use the “Make Corrections” option to update the information.

Happy filing, everyone!

Radha Jhatakia is a communications major at San Jose State University. She's a transfer student who had some ups and downs in school and many obstacles to face; these challenges – plus support from family, friends and cat – have only made Radha stronger and have given her the experience to help others with the same issues. In her spare time, she enjoys writing, reading, cooking, sewing and designing. A social butterfly, Radha hopes to work in public relations and marketing upon graduation.


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