Tag Archives: college christmas list

Review: Dave Ramsey’s Custom College Guide

We all know who Dave Ramsey is.

What you may not know is that Dave has recently entered into the college finance arena with his new product, the Custom College Guide. The product provides a comparison breakdown of the top 6 schools you are interested in attending and gives you a cost summary based on your personal financial situation.

It claims to take the work out of the college cost comparison process for you by automatically compiling the information for you.

The product also provides free FAFSA preparation, filing and support for you.

You can get all of this for $139.99

What I Think of the Product

I respect Dave Ramsey’s stance on finances a great deal. His philosophy on credit, living debt free, and his steady investing strategy all resonate well with me. Moving into the college finance arena however, was a risky move.

The Custom College Guide requires you to call into their service to give them your personal information. This will include your top 6 target schools and your personal financial situation, including your parents finances. From this 10 – 15 minute conversation, they will then prepare your school cost comparison for you. Here is a sample of what that could look like

 

college cost breakdown

Dave Ramsey’s service actually uses the services of Student Aid Services. They essentially pull all of the estimated cost of attendance information from the net price calculator required at every college. Every figure listed under the “Estimated yearly cost of attendance” is pulled directly from these figures on a college’s website.

The next category down includes all of the grants and scholarships that you may be eligible for. If you will notice in this example, a large portion of the scholarships are provided through military assistance. This is obviously NOT money that is available to the majority of students. SOme students may be VA recipients, some students may be active military or college ROTC, but this is not a scholarship that a majority of U.S. students would qualify for. Including this military assistance in the scholarship package can be very misleading.

I do really like the section included in the “Your Contributions Summary”. I think it is important for students to work during college, so I am very glad Dave’s folks made the decision to put this in there. Also, student loans are not listed here which is encouraging!

Then the bottom of the cost comparison you see how large your gap is, between your costs and the funding you have secured.

This information can then be used to make the decision on where you would like to go to college.

A Few Problems

First, I don’t like the fact that the military assistance plays so prominently in the online example. The military is not an option for everyone, so this can be very misleading.

Second, there are no federal financial aid benefits from FAFSA listed here. Federal Pell grants, FSEOG, and other grants could add some additional aid for students.

Third, do you really want to pay $139.99 to have someone do this service for you? I have had this debate with my colleagues and here on the blog before, but would you feel comfortable paying for this service that you can easily do yourself? I would argue that for most people, this is not a good bargain. All of this information is free and available to you, with a little time and effort. However, for many people this could be an invaluable decision making tool, and one which frees you up to work on other projects.

The Bottom Line

The Custom College Guide proclaims to be personalized to each student, but it can only go so far. It will never know what your exact college costs will be, it can never tell you the exact amount of financial aid you will receive, it cannot make the decision for you.

As with most things in life, it is important to remember that making a decision as important as where to go to college should only be made after weighing all of your options and seeking wise counsel. This product could be a good guide for you, but I would encourage you to do your own research to see how Dave’s answers compare with your own!

I would never buy this product, but I also work in college finances and am much familiar with this product than the average parent or high school student. It could be a good option for you, but just remember that this is not proprietary information. It is an information gathering service in a slick package. If that is what you want, awesome! But don’t be fooled into thinking that Dave is working magic here.

How to Manage the Career Transition from Non-Profit to Corporate

non profit to corporate

Many people envision a life working for a non-profit as a leisurely, stress free career path down the long road to eventual retirement. No quarterly earning projections, no mergers and acquisitions, no looming deadlines, no sales quotas, no money hungry executives, no cut throat coworkers, and no travel or overtime.

Most people envision moving from corporate america to the non-profit sector as a step back from work.

Unfortunately, this is far from the truth.

Why is it that you rarely hear of anyone moving from a non-profit to a corporate career?

Please do not get me wrong, working for a non-profit can be incredibly rewarding. There are many non-profit organizations that treat their employees extremely well, offer a satisfying work environment, and make coming to work every day fun. However, that is not always the case. Many non-profits focus 100% of their efforts on fundraising and quickly lose sight of their mission and vision. There are many instances of non-profit executives pocketing upwards of 80% of the revenue for an organization. A mismanaged non-profit can be just as bad, if not worse, than a mis-managed for profit business.

I have a good friend who is considering making a move from a mismanaged non-profit agency he has worked with for many years, to the corporate world. In talking with him, we both agreed on a few important differences that will need to be considered in making this move.

Benefits

It’s no secret that higher salaries tend to follow the corporate world, as opposed to the non-profit. However, there are a number of items to evaluate when comparing salary offers between corporate and non-profit.

1. Base Salary – This is straightforward.

2. Bonuses – These generally do not happen in non-profits. They should be considered potential income, and not guaranteed.

3. Health/Dental/Vision Insurance – Many corporate plans have better group rates because they have more participants.

4. Retirement – Many corporations offer a 401(k) match, wheras the 403(b) equivalent at non-profits is utilized much less often. However, many non-profits (which would include state and federal employment) still offer defined pension plans which are a thing of the past for the corporate world.

5. Perks – Gym memberships, company cars, discounted meals, per diem, housing and relocation assistance, free lunch, free or discounted child care are almost exclusively available in the corporate world.

6. Flex Schedules – Many non-profits offer more flexible schedules than would a corporate office. You may have the option to come in early, or stay late at your convenience. Many corporations however, do offer the ability to work remote from your home.

7. Work/Life Balance – Many non-profits excel at this, but certainly not all of them. Maintaining a healthy balance between work and home is crucial to your success. Limiting the number of hours worked, requiring used vacation days, offering paid sick time, offering options for children spouse to interact during the work day are all options.

The Decision

For my friend, the most important decision criteria was the work/life balance and the fringe benefits. The offer he received from a corporate job would pay him a higher salary and he would have the option to work from home. For him, this more than made up for the slightly higher stress level he would feel to meet the corporate objectives and be within a rigid corporate governance.

The Bottom Line

In the end, the most important component to consider is your quality of life. Maybe a lower salary would be more than compensated for with an increase in your work environment. Maybe you could use fewer vacation days if you had free lunch and a free gym membership.

This decision is a very personal one, but one that can have a major impact on your life. It’s not an easy decision but hopefully for you will be a good one!

The Case for Adjustable Student Loan Rates

student loans

Maybe that title is a little misleading…

I struggled with what to title this post because I could not figure out what would get my point across the best. What I am suggesting is a way to mediate the student loan debt crisis going forward by offering different student loan interest rates for different students.

On Federal Stafford Loan disbursed through June 30, 2013, the interest rate for subsidized loans is 3.4% and on unsubsidized loans is 6.8%. Unfortunately, if an extension bill is not passed, these low rates are set to expire at the end of this month. Both of the rates are set to effectively double.

Millions of students receive Stafford Loans every year, and every single one of them pays the exact same interest rate regardless of their situation. No other loan that I know of charges a set interest rate to every borrower. It is very un-capitalistic.

A Discriminating Student Loan Interest Rate

When you apply for a home mortgage you understand that the bank will take into account your personal situation before they come back with a loan offer. They will look at your credit score, your income, your payment history, the term of the loan, the home you intend to buy, your down payment, and the loan to value on your home. All of these factors play a role in determining how risky of a borrower you are, and therefore the interest rate and amount of money they will lend to you.

Student loans should operate on the same principle.

Student loan interest rates should take into account the student’s major, proposed course of study, career and education plans, grades, student loan repayment history (if applicable) and the outlook on job’s in that major.

The easiest way to do this would be to set a standard rate, and then give rate deductions for having qualifying criteria in each of these categories.

For example, let’s set the Subsidized Stafford Loan rate at 5% and the Unsubsidized Stafford at 8%. If you maintain at least a 3.0 GPA then you automatically receive a .25% reduction. If your major is in a critical need area, then you can receive another .25% reduction. The private job market on the lookout for employees with your skills, get a .50% reduction. Majoring in a critical research area, another .25% reduction.

This information could all be captured when submitting the FAFSA, and the interest rate would be returned through the FAFSA application. This would not increase the work on a school’s financial aid office, and would be a relatively simple process for student borrowers.

It would also give student borrowers an incentive to keep good grades, to major in a critical needs area, or to pursue a career field that was actually in demand, guaranteeing a job, and therefore the ability to repay those student loans.

Private Loans Could Also Join The Party

Private loan lenders would be even easier to incorporate into this flexible student loan interest rate model. Their loans are already based on credit and income so they have underwriting criteria in place already. They could also work on the interest rate reduction model, giving incentives when certain criteria are met.

This would likely increase the amount of quality student loan borrowers in their ranks, and increase their chances of receiving all of their money back.

The Bottom Line

There is not a quick fix for the student loan debt crisis. However, so many students receive loans to fund an education that does not benefit them. Students in courses of study that are not employable, and student who receive loans with a failing GPA are simply milking the system. They will graduate with student loan debt and no hopes of repaying those loans.

This system could at least show the importance of being selective in the major you choose, and highlight the importance of a course of study which will teach you the skills needed to get a job!

Want to be Lebron James Summer Intern?

lebron james

Looking for an internship this summer? How about working for Lebron James?

Lebron’s official website LebronJames.com is hiring interns who are interested in online content management and digital sports marketing.

No, you won’t get to travel with Lebron James and help him lace up his sneakers. But you could have an opportunity to participate in a VERY high profile internship.

This could be the opportunity that propels your resume to the top of the stack for the jobs you apply for after graduation. This is the sort of opportunity that helps you stand out from a crowd. This could be the beginning of an exciting career in sports marketing, online marketing, or anything else you would like to do.

Here are the details from Lebron’s website:

[box] LeBronJames.com has internship openings for students who have an interest in online content development and digital sports marketing. The program runs through the spring, summer, and fall semesters. Candidates must be available at least 10 hours a week.

Responsibilities:

– Maintaining basketball and technology industry dossiers

– Researching trends and advancements in the technology & sports space

– Assisting the content development team with updating LeBronJames.com

– Communicating and interacting with LeBron fans around the world

Basic Qualifications:

– Must currently attend college or a four year university.

– Access to a computer & phone

– Works well in a team setting and takes direction

– Strong communication skills and work ethic

– Has a strong urge to learn and improve

– Demonstrates a strong knowledge of basketball and technology trends

– Proficient with creating spreadsheets and detailed reports (Word/Excel)

– Familiarity with leading social media and blogging platforms (i.e. WordPress, Tumblr, Facebook, YouTube, and Twitter)

– Proficient with Adobe Creative Suite (including Photoshop, InDesign)

Desired Qualifications: – Residing in Ohio, South Florida, or New York

– Basic knowledge of XHTML/CSS

– Experience in journalism, marketing, or communications

– Basic knowledge of photography or videography

– Spanish fluency

How to Apply: Apply by submitting your resume, cover letter, and a writing sample (500 word minimum) explaining why you are “The perfect person for the internship” to opportunities[at]lebronjames.com. Applicants granted interviews must provide documentation showing they are currently enrolled in school. All entries should be submitted as a Word document or rich text format (.rtf). Do not call, tweet or send us messages on Facebook!

Deadline: We will not consider any applicants after Tuesday, June 4th at 10am ET.[/box]

I will admit, I am actually fairly impressed with this opportunity. Lebron James wants folks with Spanish fluency and knowledge of CSS and Adobe Creative! This is legit. He has required high level skills for the intern positions, and I imagine they will have the opportunity to work on some real projects. Not to mention rub elbows with some very influential people.

If I was still in college, I would most certainly be applying for this internship opprtunity.

If you are looking for an internship, this could be just the opportunity for you!

 

 

How to Dominate Scholarship Applications and Pay for College

money for college

The scholarship search can be intimidating. The most popular online scholarships searches, like FastWeb, force you to wade through thousands of worthless scholarships. They are not worthless because they are scams, rather they are worthless because they are not personalized. In fact, in my five years working in Higher Ed I have never met ANYONE who has won a scholarship through FastWeb. Obviously people do win these scholarships, but the chance of you winning a scholarship found through FastWeb is very low.

I highly recommend searching locally for your scholarships. I have written in length about the benefits of this in the past.  Your chances of winning increase drastically when the applicant pool drops from thousands of students to less than 50 for most local scholarships.

Once you have gathered a list of scholarships that you wish to apply for, you have to start the actual application process. This process can also be intimidating, but it does not have to do.

How to Dominate Scholarship Applications

I have compiled a list of the top 8 ways to dominate your scholarship applications and ensure that you maximize your chances of winning as many scholarships as you apply for.

  • Start early!! Almost every scholarship has a deadline and many scholarships give priority to applications submitted early.
  • Compile a list of accomplishments, awards, professional experience, education credentials, and volunteer organizations. Having this list handy will save you many hours during the application process since nearly every application will ask for this information.
  • Be aggressive! Scholarships are designed to reward deserving and persistent students who are willing to “do what it takes” to further their education. A scholarship committee is not impressed by a “less than your best” effort.
  • Identify and contact at least three people who would be willing to write an impressive recommendation letter on your behalf.
  • Apply for every scholarship for which you are eligible.
  • Follow up! Don’t let your scholarship application slip through the cracks. Scholarship committees will also appreciate the dedication you show in your future endeavors.
  • Be organized! This is great time to improve your organizational skills. Make sure to keep track of all deadlines, signatures, recommendation letters, and any necessary follow-up questions from a scholarship organization.
  • Don’t underestimate the importance of applying for scholarships. After all, a successful scholarship search could land you with a free ride and money to spare!

The Bottom Line

Searching and applying for scholarships is not easy. If it were, everyone would have a full-ride to college.

FastWeb likes to say that there are millions of dollars in unused scholarships each year. I don’t believe this, but I do know that there are many scholarships which do not receive many quality applications and are forced to award their money to a less than stellar student. This is where you have an opportunity to swoop in, submit an impressive application, and win a scholarship over your classmates.

Following the above 8 tips will give you your best chance of conducting a scholarship search that is sue to land you some funds to help pay for college.

My College Business Start Up

college dance business

This is a guest post from: Jenny Lang is an author, wife, homeschooling mother, investor, and pennypincher extraordinaire. She writes about smart financial living at the Frugal Guru Guide. Keep an eye out for her upcoming book, the Frugal Guru’s Guide to Everything Auto. Find her on Google Plus

My sophomore year of college, I became introduced to ballroom dance and was instantly obsessed.  I worked like crazy and placed well, but by the next year, it became obvious that I needed private lessons to reach the next level.  These would cost me $60 an hour, which is no joke for a college student.  I was making my way through college with 50% scholarships, 30% parental contributions, and 20% paying my way, and any additional expenses would need to be covered by me, personally.

I was already working two jobs.  My first was at a fast food restaurant making below current minimum wage (even adjusted for inflation) 12 hours every Saturday.  I was also working about six hours a week making slightly more as a “computer lab assistant,” which basically meant that I kept students from coming into the open-access computer labs and stealing or damaging the equipment.  The advantage to the second job was that I was essentially being paid for doing homework.  But I needed something that made way more money on a per-hour basis than either of these jobs.

I had already become a better dancer than any of the “professionals” at the local chain dance studio.  (The bar was very low—they averaged six weeks of training.)  In fact, among all professionals in the community, only two independent dancers were still better than me.  I thought, why not use my dance skills to make a profit?

First I had to find a location, the closer to the university the better.  I checked out several possibilities, from a VW hall to a YWCA, but eventually the place with the best floors and per-hour price with good room availability ended up being a community center.  For $12/hour, I could have the floor.

I set my rate through research.  The local chain studio charged $65 for an hour of private lessons, one group lesson, and one party, and they had to be purchased in packages.  The two good individual instructors charged $35 and $55 per hour.

It was the start of the spring semester, so I decided that wedding couples were my easiest target.  They are willing to pay, they have a short timeframe with definite goals, and they were the easiest demographic to hit without going into the world of professional/amateur competitions.  They were also not being targeted at all by the other professionals, who really weren’t interested in teaching them.  I set $30/hour as my rate.  Given the location, my skill at the time, and the funds available to most wedding couples, that was an attractive but not too bargain-basement rate, and I could clear $18 per hour that way.  I also decided to have two approaches—the fully choreographed routine and the simple “here’s the basic and two other steps and here’s a dip at the end” approach.  I’d feel the couple out and see if they had the time, willingness, and money for the first, which would give the full fairytale effect, or whether they mostly wanted something to do during the first dance and not humiliate themselves.  The first would take six to twelve lessons, depending on song length and ability—the second would take only four to six.  So that was a total value of $120 to $360 per couple.

I made a website using my university for free hosting (which was much more expensive back then).  I put up some content and contact information, changing my cell phone message to sound like a business.  I designed and made flyers for $50 and put them on every free bulletin board in the university.  Then I paid to have my flyer included in the local wedding exposition’s freebie bags.  I also put the word out with one of my coaches, who had more people approach him than he cared to teach.

The result was that I made back my investment in three weeks and was able to teach enough couples that I could cover my weekly lesson with a bit left over for the rest of the semester.  If I’d had more time, I could have taught more, as there was an ample market, but most of the couples wanted to practice early in the evening on weekdays, when I had very limited time with upcoming homework, as I was carrying a very heavy load of classes.  It didn’t replace either the fast food job, which was during the day on Saturday, or the computer lab job, which, as I had said, was paid homework.  I was leaving the area when I graduated, too, and it wasn’t the kind of job I could take with me, so there was no reason to kill myself to make it as large as possible, either.

But aside from the lessons and spending money, the job taught me that it was possible to “shoestring” a business with very little investment and that there were plenty of money-making opportunities out there if you think strategically.  It also taught me about the limitations of essentially doing work for hire, in which what I get paid is a function of how many hours I work.

Now I’m starting a new business—my forth, if you count all my side gigs–and looking for true growth opportunities.

Editor’s Note: I asked Jenny to write this story because I think it is a great example of how you can hustle during college and help to pay your way, or to pay for something you love to do (ie. dance lessons!) In fact, Jenny is still hustling as a busy mom of three and an entrepreneur!

Too often we get caught up on applying for scholarships and resort to taking out student loans, when there are far better options. You can start a business as Jenny did, or you can sell unwanted furniture, re-sell used textbooks, become an affiliate product manager, sell ad space on your car, or a host of other ideas. The more you are willing to hustle, the better off your financial future will be!

How to Find Legit Scholarship Opportunities

local scholarships

Searching for scholarships can lead to a frustrating mess of results.

More often than not, you are sorting through scholarships that are outdated and ones that you don’t even qualify for. When you are trying to find legitimate scholarship opportunities to apply, this can be incredibly frustrating. I often compare this to searching for a job in a difficult economy. You are trying to find a means to support yourself financially, and you are getting a little desperate because time is running by quickly and your hopes and dreams are on the line.

The good news is that there are ways to make the scholarship search a bit more efficient and effective

Start Local

The best scholarship search tip that I have is to start searching for scholarship locally. Every high school guidance counselor has a book full of scholarships notices that have been sent to their school. Many of these guidance offices post these notices on their website. Even if you do not attend that high school, these guidance counselors are often more than willing to share information with you about scholarships in the community.

Local scholarships are much more attainable because of the number of applicants, and the relevance of the student to the scholarship organization. For example, if a student lives in the same town where he applies for a scholarship from a local organization, it is very likely that the scholarship committee who reviews his application will be able to relate to the student. Members of the committee may know of organizations that the student has volunteered at, they may know the school the applicant attended, they will most likely know of the college that the student has applied to, and who knows, they might even know the student’s family.

Also, most local scholarships are only intended for a local applicant pool. This limits the number of applicants and guarantees a local student will win the scholarship. Simple math will tell you that if there are only 30 applicants for one scholarship you have a much higher percentage chance of winning than if you apply for a nationally competitive scholarship with thousands of applicants.

Local scholarship awards are also nothing to scoff at. We are not talking about piddly $250 awards. Most local organizations give a minimum of $1000, and often this is a recurring award. For example, when I was applying for scholarships I won an award from a local non-profit that only provided scholarships to students from my high school. The award was $3000 for 4 years. This was a huge boost towards paying for my college and one of the largest single scholarships I received. All from local resources!

Many local scholarships also have additional benefits like banquet dinners in your honor, achievement awards, articles in the local paper, and billboards with your face on them. Even if you don’t enjoy that…your parents and family sure will!

 The Bottom Line

There is no one right way to search for scholarships. My advice would be to start local, then expand your search once you have exhausted your local scholarships. My hunch is that you will find much more success by staying at home rather than going abroad.

Cash in on Your Economic Woes

free money for college

Most media outlets would agree that we have officially risen out of the “Great Recession” and we are now on the road to recovery. However, with unemployments rates still sky high and jobs still difficult to come by, many of us are still feeling the effects of the stagnant economy of the last few years.

One glimmer of hope for the rising costs of tuition, is that the struggling economy has caused a few colleges and universities to broaden their financial aid programs. Tope tier universities such as Cornell and Harvard have instituted new Financial Aid initiatives aimed at further assisting families in the low-middle income section.

Cornell University

Cornell Financial Aid officers describe this new initiative which has eliminated the parental contribution (which is used to calculate your expected family contribution) if your parents make between $60,000 and $100,000. This means that your EFC number would only be based on the student’s income which will greatly increase a student’s financial need.

This adjustment is only applicable to campus based scholarships and grants however. Try as they might, Cornell (or no other college) can alter the Federal Financial Aid formula. So this new calculation by Cornell would not apply towards Federal Pell Grants, Subsidized Direct Stafford Loans, or Federal Supplemental Educational Opportunity Grants.

Harvard University

Harvard University has drastically lowered the cost of tuition for all families making less than $180,000. All told, more than 90% of american families will qualify for financial aid at Harvard University. Harvard has the largest endowment of any college or university in the United States at over $30 BILLION. They have almost double the endowment of the second college on the list; Yale University with $19 Billion.

I don’t anticipate that Harvard will feel the impact of this change too much, however it is a great sign that colleges and universities are making moves to help their education be more accessible and affordable.

The Bottom Line

So you can see how many of the top universities across the country are allowing more and more students to access their educational services. With the economy continuing to struggle in recovery, I would predict that even more universities will implement sweeping financial aid reforms in order to continue to attract top talent.

As I wrote yesterday, Georgia Tech just started an online master of computer science degree and is offering the entire advanced degree for $7000. Programs like this one, and the changes in financial aid policies are all encouraging signs that the future of education is still bright, and will continue to make college affordable and accessible for all students.

Georgia Tech Starts Online Master’s Program for $7,000

georgia tech online master of computer science

I have been wondering how long it would take for this to happen!

[box] The Georgia Institute of Technology College of Computing announced today that it will offer the first professional Online Master of Science degree in computer science (OMS CS) that can be earned completely through the “massive online” format. The degree will be provided in collaboration with online education leader Udacity Inc. and AT&T. All OMS CS course content will be delivered via the massive open online course (MOOC) format, with enhanced support services for students enrolled in the degree program. Those students also will pay a fraction of the cost of traditional on-campus master’s programs; total tuition for the program is initially expected to be below $7,000. A pilot program, partly supported by a generous gift from AT&T, will begin in the next academic year. Initial enrollment will be limited to a few hundred students recruited from AT&T and Georgia Tech corporate affiliates. Enrollment is expected to expand gradually over the next three years.[/box]

Georgia Tech is a very reputable school of technology, and this is a giant leap forward in terms of the cost of a Master’s degree, and the format in which that degree is offered. I was actually doing research for a post on “Why Online Programs Are So Expensive” when I stumbled across this news release. It made my heart happy.

We have all bemoaned the high cost of education and wondered how we could work to lower that cost and make education more accessible. This is an excellent step towards that goal.

Massive Open Online Course (MOOC)

The curriculum of this entire program will be delivered through the massive open online course format. As many other colleges have done, Georgia Tech offers these open course online for anyone to access for free. The students who are enrolled in this Master’s program will simply have access to additional support service and actually earn a degree from the curriculum.

Allowing anyone to access this course curriculum is a wonderful way of getting back to the roots of education in my opinion. This places the focus back on teaching and learning and away from profit generation that we see so rampant among online programs.

This also gives you and I the opportunity to access the exact same curriculum that the students at Georgia Tech will be accessing. You could essentially earn a Master of Science in computer science (without the degree to prove it) online for free, by participating in these courses.

A Trend for the Future?

I think this trend will continue well into the future. In fact, I think this may BE the future of education. The Internet has revolutionized every other aspect of our society, why not allow it to permeate and revolutionize the way we view education as well?

Would you participate in a MOOC and earn an online degree in this format? Would you access these classes for free even if you were not trying to earn an online degree?

 

Submit your FAFSA Before You Submit Your Taxes

free money for college

As a former Financial Aid Officer at a college I have become intimately familiar with the dangers of waiting until the last-minute to submit a FAFSA. Most people are not aware that as of January 1st, 2013, students are able to submit their 2013-2014 FAFSA for the upcoming 2013 Fall semester. The majority of colleges and universities have strict deadlines that must be met to be considered for financial aid. Missing these deadlines can have disastrous effects on your financial aid award letter.

Almost every institution of higher learning also has internal scholarship programs that can be accessed as additional sources of financial aid. All in all, the old adage “the early bird gets the worm” holds true. A lot of institutions have grant and scholarship programs that are awarded on a first come first serve basis.

File FAFSA BEFORE Filing Your Taxes!

Another bit of useful information for students and parents is that you can actually submit your FAFSA without having filed your taxes. On the FAFSA, when it asks you if you have submitted your 2012 tax returns, simply select the “I will file my taxes” option. Then once you have submitted your 2012 returns, simply log back into the FAFSA with your FAFSA pin and complete your tax information. If you have filed for an extension, this lets you submit your FAFSA while your taxes are still being processed.

Today is May 23, which means that many of the deadlines for the Fall 2013 semester have already been missed. It is not too late however to continue applying for more scholarships and grants to help earn more money for college.  Applying for free money for college will help you avoid taking out student loans and avoid the burden of paying back student loans after you graduate. By taking advantage of the financial aid available on your campus you can maximize your changes of that elusive “free ride” to college.

You can check the local public library or your local high school guidance office for excellent scholarship opportunities. I encourage you to apply for as many of them that you qualify for!

In review:

  • Submit your FAFSA early!! (As early as January 1st)
  • Submit your FAFSA even if your taxes have not been filed yet
  • Take advantage of ALL scholarships and grant programs by being one of the first students to submit their FAFSA for the upcoming school year.
  • Contact your financial aid office if you have any questions, they will be more than happy to help you.