Finding Financial Aid


How do you pay for a college education?

 Financial Aid Sites:   

  Basics: Looking for Student Aid
  College-scholarships.com
  US Dept Education Student Aid
  Federal Student Aid: FAFSA
  Student Aid Deadlines
  Federal Pin site: PIN.ED.GOV
  FinAid.org
  Financing Your Master's Degree
  BrokeScholar.com
  CollegeBoard.com/pay
  FinancialAidSupersite.com
  FindTuition.com
  FreeScholarshipGuide.com
  UnitedStatesGrants.org
  CareersandColleges.com
  MoneyforCollege.com
  RSP Student Aid News

Warning:  Not all web scholarship searches may be worth their cost. Use the free resources first. When looking at a web site, ask yourself is this a money making business or a free search site?  

Dollars flying around a student's head

Who is my student aid lender?

Not sure where you want to go?

Visit your top 3 school choices when they are in session. Make sure you like the atmosphere.  Schools where student commute to classes are very different from those with dorms.  It may be easier to make friends at a dorm. But dorms are very noisy. Don't count on the school administration to enforce laws against underage alcohol consumption or drug use. Why colleges think are immune from these state & Federal laws we have no idea.

banner

The Financial Aid Time Line

Many colleges use data from the CSS/Financial Aid Profile. In October begin applying on line for nonfederal financial aid at:  profileonline.collegeboard.com

In January start filling out the Free Application for Federal Student Aid (FAFSA). Be aware that many states require additional forms. Visit www.fafsa.ed.gov for more info.  You may also want to register for a PIN at pin.ed.gov

In February start your search for scholarships. Check to see what is your state's financial aid deadline. Some are as early as March 1st.

In April discuss the financial aid package from each school with your family. Calculate how much is still needed. Decide if you need a private loan or more scholarships to make ends meet. Remember to include the cost of books which can add $500 to $1000 a semester.

Borrowing from Your 401(k) Think Twice: It Could Cost You: An article from the College Board:

Pros & Cons of Using your 401(k)

Paying for a College Education

You will be paying your college a huge amount of money, so you need to be happy with your choice of school. Make sure the tuition is affordable before you set your heart on a school that is really out of reach.

The college board's research indicates that "There is more than $130 billion in financial aid available. And, despite all of these college cost increases, a college education remains an affordable choice for most families." Also: "... that about 56 percent of students attend four-year schools with annual tuition and fees below $9,000"

Princeton in 2001 decided to eliminate loans from its financial aid packages in order to attract more non affluent applicants. It replaced them with grant money for all students rich or poor. Princeton's class of 2005 became the first class to graduate free of college loans. Yale, Harvard, U of NC at Chapel Hill and of Virginia have stopped requiring low income students to borrow money. (Source Newsweek-Kaplan College Guide 2006 edition)

www.college-scholarships.com

www.scholarships.com

Part Time Jobs


Look for a part time job

Don't expect that a scholarship is going to solve your entire money problem. You might enjoy some income from a part time job.

Job Locator: Collegehelpers.com

Part Time Jobs: JobDoggy.com

Part Time Jobs: SnagaJob.com

Note: not even new bankruptcy laws will allow student aid debt to be forgiven.  Be prepared to pay off your loans in full.  Yea, it sounds really scary, we know, but even good financial advisors will tell you it is worth it to borrow for a job targeted education.   Don't worry - you can do it.  Have a little faith in yourself.  You'll get there.  But if you major in art history or journalism don't expect to get a job unless your uncle owns a newspaper.  

Pick a major using BOTH common sense and your own personal interests.  Look in your Sunday paper now and see the kind of jobs for which people are hiring. Take a look at Monster.com and see who they want to hire. Gear your major to the in-demand jobs! Ask your guidance counselor for a job forecast report.  IMPORTANT: Also ask to be tested to see what kind of job you are best suited for. 

 

ChristianCollegeMentor.com is a student services website representing Christian schools across the US and Canada.

www.ChristianCollegeMentor.com

 

Part of the healthcare overhaul signed into law cut out the private sector from offering federal loans as of 7/1/10 while boosting federal grant programs. The bad news is that banks such as Bank of America had to stop offering new loans. But the changes have spurred competition. Wells Fargo dropped rates on its private student loans as have SunTrust, Citigroup's Inc's Student Loan Corp, Royal Bank of Scotland Group PLC's Citizen's Bank and SLM Corp's Sallie Mae.

(The Wall Street Journal July 3 -4, 2010.)

Disclaimer

The CollegePrayer.org web site does not endorse any of these web sites. Neither do we give financial advice. We simply provide links with resources which may help you.

CollegePrayer.org © 2005 - 2012 • Privacy Policy • Terms Of Use