Need Free Money for College? Avoid These 3 Mistakes

Do you know the 3 biggest mistakes both parents and students make when looking for free money for college that destroys their results? If you want to dramatically increase your chances of having your child’s college tuition and fees covered by scholarships and other college financial aid while avoiding these 3 college funding mistakes, read this immediately because the mistakes and what to do instead are inside this article.

Mistake #1: Starting Too Late

What is the mistake? The mistake here is to believe that students need to wait until they reach their junior or senior year in high school before locating different sources of free money for college.

Why is it a mistake? This one is a mistake because the longer a student waits before getting started, the less time they actually have to research awards they will qualify to receive.

What you should do instead? Regardless of how old your child is, start now by creating a list of college funding opportunities. As your children grow up, that list will grow over time as well.

Mistake #2: Doing The Work Themselves

What is the mistake? The mistake here is to push yourself to find all the money for college you need by yourself. This leads to overwhelm and before you know it, you and your child have given up hope.

Why is it a mistake? This is a big mistake because to win at the game of finding free money for college, you will want to identify ways to accomplish this without having to do all of the legwork yourself.

What you should do instead? Relationships are key here. Try building a relationship with the college advisor at your child’s school and ask for email updates if any new scholarship award should cross their desk. This person is usually your greatest resource.

Mistake #3: Not Knowing The Numbers

What is the mistake? The mistake here is to find and apply for 30 or less scholarship awards to help you pay for college.

Why is it a mistake? This is a mistake because even the very best student will win less than 3% to 5% of awards for which they apply. With that said, if a student locates and applies to 3 college scholarship or college funding opportunities that is 90 or so over the course of the month.

What you should do instead? Get aggressive about finding as many credible sources of free money for college. Set a daily or weekly goal and stay with it until the question of how to pay for college quickly becomes a thing of the past.

Bonus Tip – You can learn much more about how to pay for college in my 3-Part Video Course. Now that you know the top 3 mistakes parents and students make when looking for free money for college, I’d like to invite you to take advantage of my years of college financial aid experience. Visit http://www.ProfitFromCollege.com to watch these 3 simple videos.

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National Scholarship: I Have to Pay for College

I Have to Pay for College… Part One: Student Loans : If you are like most high school graduates or thinking of going back to college, the prospect of having to pay for it can be overwhelming if you don’t have a lot of money saved.

According to a survey completed in 2015 of 5,000 Americans by marketwatch.com, approximately 62% only had about $1,000 in savings, and another 20% didn’t even have a savings account.

Additionally, the average cost of college tuition in America today according to collegedata.com for the 2015-2016 school year is $9,410 for in-state residents at a public college, $23,893 for out-of-state residents attending a public college, and $32,405 for private colleges. These costs do not include text books or living expenses if you are not going to be living at home or with family who can help support you. Finally, there are supplemental expenses to consider such as computers, lab fees, tutoring, etc. So, the big question is, how does a person pay for it all?

The answer is not simple; paying for college usually involves multiple strategies. Assuming you have nothing saved for college, the most obvious solution would be complete the FAFSA, or the Free Application for Federal Student Aid, with the United States Department of Education on their website. By doing so, you will find out if and what types of students loans you may qualify for. This is usually the best option if you have to borrow money to help pay for college, because interest rates are typically lower and the term of repayment is more flexible. However, you should only borrow money if no have exhausted all other options in paying for your education, because a large student loan debt upon graduation can be burdensome. Interest will continue to accrue on your student loan if you wait to start making payments, only adding to the total amount you owe and make paying back your loan even more difficult. Consider any type of loan as if in the same category as an emergency; don’t borrow the money unless you absolutely have to!

I Have to Pay for College… Part Two: Free Money

Have you ever heard the term, “nothing is ever free”? Well, “free money” for college such as scholarships and grants are essentially “free money”, with some other form of cost involved. For example, Fund for Thought requires that you complete and application and write an essay in order to be considered for a scholarship. The cost in this example would be the application fee ($20), and the time spent completing the essay packet. The “cost” is low compared to the possibility of receiving $2000 of “free money” towards college. Scholarships and grants are “free money” because you are not required to pay them back, they are an award for some sort of qualification or achievement.

You should apply to as many scholarships and grants as you can find. The best places to look are scholarship databases online, a high school guidance counselor, or the financial aid office of the university you will be attending. These places usually have extensive lists of current scholarships available, and can help if you have questions about the application. Additionally, local civic organizations, churches, and businesses will sponsor scholarships available to students in their area. Check your local newspaper and community announcements and you may find “free money” with little competition. The bottom line is that if you put in the time to search for scholarships and grants, the chances of receiving “free money” for college are greater.

I Have to Pay for College… Part Three: Scholarship Search

We wanted to elaborate on the scholarship search because there are so many resources out there, it can be a daunting task for the individual scholar. There are several different types of scholarships available, and be categorized by different attributes. We thought that it would be best to compose a list to help give you some ideas and direction when beginning your search.

1. scholarships for high school students
2. undergraduate scholarships
3. masters scholarships
4. national scholarships
5. international scholarships (Canadian scholarships, exchange student scholarships)
6. free scholarships
7. online scholarships
8. full ride scholarships
9. community service scholarship
10. company sponsored scholarships (Pepsi scholarship, Walmart scholarship, McDonald’s scholarship)
11. race/ethnic origin scholarships (native american scholarships, Hispanic scholarship fund)
12. area of study scholarships (journalism scholarships, law school scholarships)
13. scholarships in areas of need (teach scholarship, early intervention scholarship)
14. merit based scholarships based on academic or sports achievement

This list is by no means extensive, but the goal is to get you started. Receiving free money for college is possible for everyone. By applying to as many scholarships as you can, you will increase your chances of an award.

Michele Mackin, MBA, is a guest blogger for [http://www.fundforthought.com], a scholarship website for undergraduate, graduate, and international students. Her personal experience in paying for her own masters programs lends insight to aspiring higher education students.

Article Source: http://EzineArticles.com/9455820

Why We Must Teach Financial Literacy In School

Few parents of students in grade school, high school or college would disagree if you said; we need to teach basic economics and financial literacy as mandatory parts of our education system, and yet, we don’t? Why – well, that was the question recently put forth at our think tank. What might we teach the kids?

How about how to balance a checkbook, how to calculate simple interest and amortization, and how about personal budgeting and credit card debt issues? How about the tradeoffs of student loans for college tuition – whoops? Is that one taboo – sorry, but why not, why should anything be off-limits. Let’s talk shall we.

You see, one think tank type agreed with me stating that he liked the principle and was amazed it wasn’t already part of the curriculum. Of course, he also told me that my ideas of ‘balancing a checkbook’ were a little archaic stating; “Seriously? How many people still use checks – haven’t written one this decade.”

Okay, I concede that point, still the principles of looking at a bank statement are of value. Interestingly enough, I’ve only written a handful of checks this year myself come to think of it.

Another couple of points – in the USA we see 1.3 Trillion Dollars in outstanding tuition debt – 40% over 90-days in the rears, most of those students will default eventually, worse either way they are economically enslaved as that debt cannot be discharged by bankruptcy, at least not yet, Democrats want to forgive and eventually give free college tuition, still those loans were taken out unwisely.

Another challenge Auto Loans, zero interest, zero payments until next year and loans to those who have very substandard credit, that’s another sign of bad decision making. What if those folks had better knowledge about interest, loans, and money?

When people took out ARM Home Loans during the run-up to the 2008 financial crisis, many said they didn’t understand what they were signing. Maybe they did, but used that as an excuse, either way, they should have known what they were signing and getting themselves into.

Why are we in such a hurry to economically enslave the next generation with debt? They get out of college and cannot buy a car, start a business, or buy a home, how does that help our economy moving forward? Something is amiss, and it is something that we can fix by simply teaching financial literacy, which is just as important for success in life as math, science, reading and writing. Please consider this.

Article Source: http://EzineArticles.com/9598752

Student Loan Debt Clock Is Ticking Away At 1.57 Trillion Dollars On Election Day 2016

The academic bubble is ready to burst, all the while academics in their infinite wisdom tell us they know best how to run our society and civilization – don’t you find that odd? It seems they haven’t gotten their own house in order, and yet, want our entire country to run like a giant college campus – interesting indeed.

These same academics want to tell us how to vote, re-distribute wealth, and how to think – well, I think their day of reckoning is right around the corner – and I fear what’s to come will not be pretty. No, I don’t want to be the one to say; “I told you so.” Surely, there are others with more social media followers who see the reality of the situation to spread that in-your-face slap when the time comes. Okay so, let’s talk shall we?

40% of the student loans are in technical default (90-days in the rears with no further agreement to catch up on payments). That is 583 Billion Dollars in defaulted loans that we may never see payment of. Trust me when I tell you that the College Loan Bubble has burst and is extreme crisis. Why is this allowed to continue? Well, if it stops it will collapse academia, become a huge problem for our Federal Government, add over 1/2 Trillion to our $20 Trillion National Debt, and cause the angst of millennials who the Democrats have all but promised “Free College For All” during the 2016 Presidential Election.

Still, by the time the election is over the Student Loan debt will be 1.57 Trillion Dollars, even though the official figures claim it only 1.2 Trillion which was actually the figure before the start of the 2015 Academic Year.

If you don’t see the enormity of the problem, let’s talk about the auto industry right now. It turns out that the number of “Subprime” auto loan defaults are at another all-time high of 4.5% – Subprime meaning loans made to those without proof of ability to pay or marginal credit ratings, perhaps coming from low-socioeconomic borrowers. Last time this happened the auto industry crashed and needed a big bailout, and we are reaching those same numbers now – and realize this is only 4.5% not 40-50% like the student loan problem.

Scared Yet? Well, it is Halloween 2016 today, and I am, and no, there won’t be any good witches flying in on their brooms to win the next election to use hocus pocus to make this problem go away – indeed, both presidential candidates are likely to see the auto loan problem get worse, as well as the student loan debt problem – not to mention our stock market breaking all-time highs with PE Ratios and major stock market indices records.

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Australian University Students Are in Need of Better Funding

It’s over 40 years since the Federal Whitlam Government made university education free. This was something many were pushing for at the time. My arguments for it included the point that without educated professional people this country could not function. As others also thought this way we considered that by lifting the burden of fees we should actually be paying people to undertake higher education.

Every department of government and business life requires people holding degrees and doctorates in fields relevant to their positions. The need to maintain a stream of graduates has to compete with sacrifices made on the part of students. They often surrender life-styles and other things to undertake courses.

Our hospitals need doctors, nurses and scientists. Our cities run with the help of educated graduates in law, economics, and a long list of other subjects. In a growing community that is expanding as rapidly as Australia there is no end to the number of graduates we require.

The next government that arrived a few months later quickly replaced university fees and since then they have been on the incline. The country is now in the situation of having to import qualified people from overseas to do the jobs for which Australians have been prevented from qualifying because of the cost.

The fees now are extremely high and going up by the year. Overall the cost of doing a medical degree may soon be up to $100,000. The books alone are often too expensive for students to own and they either borrow or hire them. Add to that the other equipment and costs and it is quite substantial.

While the government offers students loans it has now put a time limit on them that means the repayments may exceed one’s income when first starting out. The question is what do the politicians expect to happen. Most of the current ones got a free education or paid very little for it in the past but they are now making it not only impossible for many Australians but putting us behind the rest of the world in the education stakes.

The university students are protesting fiercely over the demonstrations that won’t stop until something better is produced. They require better financial aid and more government support for their sacrifice. The country will be better served if they get it.

Norma Holt has knowledge that enables her to understand many issues. Political, social and behavioural problems are usually on her list for discussion as well as anything to do with the Spirit of the Universe and reincarnation, which she experienced. She is happy to hear from any of her readers.

Article Source: http://EzineArticles.com/9769761

College Scholarship Search for the Frustrated Student

It may seem like the fall of a student’s junior year it too soon to search for scholarships but it is not. In fact, I often tell parents to start searching for scholarship the moment that your student enters high school. It is an unusual time to talk about money for college. Most parents and students are thinking that there are four years until graduation. While life is going on college acceptances are just over the horizon. It is true that the early bird gets the scholarship. The key to having a scholarship strategy that works is staring early. There are some parents who have a formula for success. They have a binder where they are already collecting scholarship information. They attend every scholarship and grant training session that they can. Each parent and student should consider finding scholarships a team effort. Start by meeting with someone at your local library. There are a lot of college scholarship resources in the library and there is always someone who is willing to help.

Did you know that there are billions of dollars in scholarships that go unused every year? Some students say it is too hard to apply for scholarships. That is why I tell all students to get started on their scholarship search early. Starting early is the best way to prevent each student and parent from getting overwhelmed. You should have different types of scholarships in each section of your scholarship binder. You can also have your own library of scholarship books and articles that you are picking and reviewing. There are thousands of scholarships on Google. You can search by college major and interests. Ask your student to talk to their high school counselor about scholarships that are available. The school counselor should have information that they are receiving throughout the year. Let them know that you are interested in receiving information and that you will apply

There are a lot of scholarships that are based on a student’s performance in high school. Each student should work to obtain the highest grades possible. Get a tutor right away or make arrangements for the teacher to meet with your student. The critical issue for each parent is deciding how to use each year as leverage against the rising cost of college. Look for small and large opportunities to find scholarships in newspapers and in magazines. Call local college’s financial aid office to find out more about their scholarships and deadlines. Call your bank or credit union to see how you can start saving and if they have scholarships.

If you are the parent of a 11th grade student it’s time to get ready for senior year by asking your student to obtain scholarship recommendation letters from their teachers. Create a calendar with scholarship deadlines and ensure that your applications are submitted on time. Don’t allow yourself to get behind. It’s easy to miss out on a scholarship because your application was not submitted on time. Use the summer to get ahead of the game. Ask your son/daughter to write answers to several scholarship questions. Some of the questions to expect: How will you use our scholarship to complete your undergraduate degree? Why do you deserve this scholarship? How will you make a difference in the world after receiving your degree? Remember grammar and spelling count, if a student wants to have their scholarship application considered.

Investing in your son/daughter’s education is one of the best decisions a parent and student can make. Start your scholarship search early so that your student has the flexibility to pay for the college of their choice. Position yourself to reap the financial rewards of saving pursuing scholarships. You will not regret your investment of time and you can have money to pay for tuition, room and board and other expenses.

Dr. Stephen Jones is an education advocate, workshop presenter and speaker. Dr. Jones has over a 100 scholarship websites listed in his book the Ultimate Scholarship Guide. His other books are the Seven Secrets of How to Study and the Parent’s Ultimate Education Guide. Order his book at Http://www.DrStephenJones.net.

Article Source: http://EzineArticles.com/9719739