Articles Written Within Financial Aid

New York Times Say College Freshmen Stress Reaches Record High

February 1st, 2011 by Sarah Ward

Is college stress getting you down? You're not alone. Photo: deathandtaxesmag.com

Last week, the New York Times ran an article about how freshmen college students are experiencing record levels of stress. Let’s look at some of the reasons why:

  1. The economy. Since the economy took a nosedive in 2007, it affected a lot of people’s ability to pay for college. Right now, it’s more difficult to get into college because when people lose their jobs, Plan B is often to go back to school. People in college are also postponing graduation and the inevitable struggle of having to finding a job.
  2. Non-stop since high school. The senior year in high school is a stressful one involving college applications, ACT and SAT exams, deciding which college to attend, the list goes on. After a mad dash to the finish line, most high school students don’t get much of a breather to recharge between graduation and being thrown into their freshman year at college.
  3. The pressure starts young. When he was 3-years-old, Tiger Woods went on TV showing the world how well he could putt and goes on to be one of the best golfers that ever lived. From a young age, children are being told they need to do well in school so that they can do well in high school, so they can get into a good college, so they can get a good job. Unfortunately we have seen in recent years that this formula isn’t foolproof. Which leads us to…
  4. Unemployment rates. Last year CNN ran a story about a woman who sued her alma mater for $72,000 because she couldn’t find a job. Today we’re seeing people graduating with a college degree, being unable to find a respectable job, and resorting to get a job paying minimum wage at Blockbuster.
  5. Student loans. The average college student graduating with a 4-year bachelor’s degree has approximately $19,999 in debt from student loans to pay off. “More students are arriving on campus with problems, needing support, and today’s economic factors are putting a lot of extra stress on college students, as they look at their loans and wonder if there will be a career waiting for them on the other side,” says Brian Van Brunt, the president of American College Counseling Association, and director of counseling at Western Kentucky University.

Really, in today’s unpredictable world, it’s no wonder that college kids are more stressed now than ever before. Dealing with the college stress is ultimately part of the learning process at school. If all the talk has you feeling stressed, check out our tips on how to deal with college stress.

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Ten Financial Aid Resources for Mothers Wanting To Go Back To College

November 28th, 2010 by michaelm

If you are a mother and you want to go back to college to finish a college degree or to start working toward a new career, there are financial aid programs designed to help you defray the costs associated with higher education. Here are ten resources that can help you go back to college:

1.) Subsidized Federal Student Loans: Subsidized student loans are available for students who attend an accredited college with at least half-time status. These loans are not required to be repaid until after graduation and the government pays the interest while the student is still enrolled.

2.) Unsubsidized Federal Student Loans: These student loans are available to all students who receive subsidized loans. The difference is that students will be required to pay interest only while they are enrolled. Larger payments will be required upon graduation

3.) Federal Perkins Loans: This is another type of student loan offered by the Federal government. It does not need to be repaid until after graduation and the interest rate is low. These loans require that students meet income requirements which indicate financial need.

4.) Federal Student Grants: The Federal government makes grant money available for students each year. The student must show financial need to qualify. This form of financial aid does not need to be repaid.

5.) State Grant Programs: Much like Federal grants, individual states offer grants to students who qualify financially for assistance with their educational costs.

6.) Scholarships: There are many programs and organizations which offer scholarships to mothers who are returning to college. They can help the student reduce their educational costs and help with living expenses while in school.

7.) Other Grant Programs: Depending on a mother’s financial situation there are grants available to help cover things like child care and transportation. Mothers who receive public assistance should ask about these programs.

8.) College-Based Grant Programs: Individual colleges and universities often have private grant funding available to help cut educational costs based on the student’s demonstrated financial need.

9.) Nursing Loans: Mothers who want to return to college to study the field of Nursing may be eligible for loans specially developed for Nursing students. Many times, once the student completes a work requirement the loan will be considered paid in full.

10.) Employer funded programs: Many employers have programs to help their employees complete higher education programs.

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Ten Tips on Keeping the Costs Of An Online College Down

November 23rd, 2010 by michaelm

If you are considering attending an online college or university, you probably realize that even online schools require a substantial expense on the part of students. There are some things that you can do to help keep costs low. Here are ten tips on keeping the costs of an online college down:

1.) Find the right program before enrolling. There are application costs and other fees associated with attending an online college, much like a traditional school. Because online colleges are often set up to work with a very specific area of study, it is best to make sure that you are applying to and attending the right school from the beginning.

2.) Ask about fee waivers. Many online colleges will waive enrollment and application fees for students having financial difficulties in order to assist them with costs.

3.) Complete the FAFSA. The Free Application for Federal Student Aid can help you to find out if you qualify for federal and state based financial aid programs.

4.) Complete any institutional financial aid applications. This will help the school to determine your ability to pay and enable them to offer you financial aid.

5.) Attend an accredited school. This is very important for several reasons. An accredited school/program will qualify you for financial aid programs and it will provide you with a degree or certificate that employers recognize as valuable.

6.) Ask your employer for help. Many companies have tuition reimbursement or remission programs for their employees in order to encourage higher education. Talk to your human resources department to find out what programs are available and if you qualify for assistance.

7.) Purchase books only when necessary. Before you purchase the required textbooks, find out if you will really need the books on your list. If possible, share with a friend or borrow the books from the library.

8.) Consider programs that will offer loan forgiveness. Many health care and public safety students will be eligible for loan forgiveness after graduation if they work at an approved place for a specific period of time after earning their degree.

9.) Find out if you qualify for scholarships. Scholarships are not just available for talented high school students. There are many scholarship programs for adult students as well.

10.) Talk to organizations to which you belong. Many organizations have money in their budgets for helping members complete their education. It never hurts to ask if there might be money available to help you cut your educational costs.

The Ten Most Important Things You Should Know About Online College Courses

November 21st, 2010 by michaelm

If you are considering taking online college courses, there are the ten most important things that you should know about online classes:

1.) Online courses are just as challenging as traditional college courses. They require the student to complete coursework electronically and to learn at their own pace.

2.) Students are required to have excellent time management skills. Much like traditional courses, there are inflexible deadlines and exam dates, which require the student to be prepared or to have the work completed.

3.) Online college courses are often geared toward students working to complete a very specific course of study. Often times, this is a certificate program in something like accounting or a medical career.

4.) Financial aid programs are often available for students taking online college courses.

5.) Some traditional colleges and universities offer online college courses for their students in specific programs of study. There are also online only colleges and schools that offer these courses.

6.) Online courses can be completed at any time of day. They are a good alternative for students who work standard hours at their job and are not available during the day to attend classes.

7.) Online course instructors are often working with many more students than traditional instructors. This means that they may be less available for assistance.

8.) Online college courses are less expensive than regular college courses sometimes. This is because with online colleges and universities, there is less operating overhead involved in bringing the courses to students.

9.) Online college courses are still not the normal form of higher education. Therefore graduate programs and employers will often give less weight to work and degree programs that are completed entirely online.

10.) Students who complete online college courses can accelerate their learning in order to complete their program of study quicker than they could with a standard program. This option is not available with all online programs of study so it is important to ask if this option is available for students who meet advancement criteria.

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10 Different Forms of Financial Aid For Students Attending An Online College

November 20th, 2010 by michaelm

If you are interested in attending an online college, you probably have heard the television and radio ads that promise financial assistance for those who qualify. If you’re unfamiliar with financial aid, then you should definitely read about these five forms of financial aid for online college students. Each of the five types has different requirements that a student must meet to be eligible.

1.) Federal Student Loans: Federal student loans are available to any student who attends an accredited, or approved, program of study. This extends to students who attend online colleges and have at least half time status. There are several different federal student loans programs. Students who are not in default on previous federal loans will qualify to borrow a specific amount of money for each eligible term of study. There are both subsidized and unsubsidized student loan programs Subsidized loans mean that the government pays the interest while the student is attending school and there is a six month grace period after graduation before the student is required to repay the loan in monthly installments.

2.) Private Student Loans: Private student loans are available to students who qualify through banks and credit unions. These loans generally require that the student or their parent(s) has a good credit history to be eligible. Online colleges may not qualify for all private loan programs so it is important to investigate the options available.

3.) Institutional Student Loans: Often backed by the federal government, there are institutional student loans offered by some online schools to help students defray the cost of education.

4.) Federal Education Grants: Depending on a student’s financial situation and the online college that they choose to attend, there may be federal grant money available. Grant amounts will vary depending on the student and the school.

5.) State Education Grants: Again, depending on the school and the student’s financial situation there may be state grant money available to help offset the costs of education.

6.) Scholarships: Scholarships are a broad category of financial aid that does not require re-payment. They are issued to students who meet specific criteria that is defined by a scholarship committee.

7.) Loan/Scholarship Programs: This type of financial aid generally applies to students studying at health care specific online schools. The aid is given in the form of a loan that is forgiven after graduation so long as the student maintains employment in their field at a qualified healthcare facility.

8.) GI Bill: This financial assistance is for eligible veterans and it can be used to assist with tuition at an online college.

9.) Payment Plans: Most online colleges will allow students to pay on a monthly basis using a payment plan that is administered either by the college or a third party.

10.) Tuition Reimbursement: Many employers offer financial aid for students who attend online colleges as an incentive to further their education.

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Ten Things You Can Do To Finance Going Back To College Online

November 11th, 2010 by michaelm

College can be expensive, and online classes are often even more pricey. But the convenience of not having to attend classes is worth it for many. So, be creative. There’s lots of money out there for college students who are determined enough to find it! Here are ten ways you can finance going back to college online.

Federal Grants

Many online colleges participate in federal grant programs. After checking with the financial aid office of the school, fill out the FASFA online. Grants are available to students who fit into certain criteria, and are only available by filling out the FASFA.

Federal Student Loans

In addition to grants, students who fill out the FASFA will have access to student loans offered by the government. These loans are low-interest and will have no repayment requirements until six months after graduation.

Bank Issued Loans

Students who have a good relationship with a bank can apply for loans there.

Scholarships

There are thousands of scholarships available for every walk of life. The school can provide you with information, or doing a simple internet search should generate hundreds of loan sites.

School Payment Plans

Many online schools will offer payment plans to students who meet credit requirements. Check with the financial aid department of the school.

Personal Funds

Many students who are wanting to take an online course or two to improve specific skills will pay for the cost out of pocket.

Parental Loans

Loans through the government are offered to parents for students attending school.

Waivers

Rarely, schools will waive class fees for certain students.

Sell Stuff

Own anything that someone else might want? List it on Craigslist! Many people will buy goods at inflated prices if they know it’s for a good cause.

Write Online Articles

Certain companies will pay for submitted articles. Associated Content is one website that pays for articles. Some blogging sites now offer payment to bloggers who generate enough readers.

Write Product Reviews

Epinions and other consumer review websites offer payments for reviews based on readership of the article.

Bonus: Combine two or more of the above.

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Ten Questions To Ask Yourself When Choosing An Online University

November 10th, 2010 by michaelm

Congratulations on the decision to further your education and start increasing your earning power and career potential. Deciding to return to school is a huge decision and for non traditional students there are often a lot of unanswered questions. If you have decided that an online university is the best option for your education, then there are some things you will need to know when choosing an online school. Here are the ten questions to ask yourself when choosing an online university.


1. Can you afford it. Most online universities now offer generous financial aid packages to qualified students. These packages can contain loans, grants and even scholarships. The good news is that grants and scholarships do not have to be repaid. Loans will, but after graduation.

2. Do you have the time? If you simply cannot fit one more thing into your schedule, then attending an online university is a good option for you. Online courses mean that if the only time you have to work on course material is in the middle of the night, it really doesn’t matter as long as you have time somewhere in your day.

3. What do you want to do when you’re finished? If you are interested in changing careers and are considering an online education to make that happen, then you already know the answer. If you intend to stay in the same career field, then perhaps you are seeking an advancement or a new job entirely. It is always a good idea to know what you want from the future.

4. Is the school accredited? A degree from an online university is worth more if the school is accredited. Be certain to find out before you select an online university.

5. Who are the instructors? If you want to attend an online university, find out where the faculty come from. Are they full time instructors? Or, are they all adjunct professors who work full time in their area of specialty? There is not necessarily a right answer to this question, but it is good information to have.

6. Who are the other students? Find out who attends the online university you are considering and if possible, request contact information from the admission office so that you can make contact with some current students and alumni.

7. How many classes can you handle? If you intend to take one course at a time, make sure this is allowable at your online college. If you want to finish quickly, ask about rolling course starts and whether you can accelerate the program by working faster.

8. Which university offers the course you need? There are many different online universities serving the needs of students like you. You should investigate their offerings to find the one that is the best match for you.

9. Will the university help you find a new or better job? The reason you are attending an online university is to improve your life, so it is important to find the one that will help you achieve the most from your life and career.

10. Is the university well known and reputable? As you research different online universities, be certain to check out what people are saying about the school. You are going to make a large investment into your future and it is best to make an educated decision.

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Win a New Ipod Touch From My Colleges and Careers

October 7th, 2010 by michaelm

click here to enter

My Colleges and Careers is giving away a free iPod Touch, called the “greatest iPod to date” by IGN’s Scott Lowe. To enter click here. Then all you need to do is like us on facebook and follow us on twitter. Don’t pass up this opportunity to win one of the most amazing mobile media platforms ever designed. It will be a perfect thing to take with you when you go back to college.

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Obama’s Bill to Benefit College Students

March 30th, 2010 by Sarah Ward

Obama signs the Education Reconciliation Act March 30, 2010. Photo c/o CBS

There are some big things happening in Washington, D.C. that could benefit college students in the long run. As part of President Obama’s health care bill, there are several provisions that will make higher education more accessible and affordable for students.

“By cutting out the middleman, we’ll save American taxpayers $68 billion in the coming years,” said President Obama today at a Alexandria, Virginia community college campus. “That’s real money, real savings that we’ll reinvest to help improve the quality of higher education and make it more affordable.” With these new changes, student loans will now be accessible directly to students, ending the government subsidies to banks, and effectively freeing up $68 billion dollars. In other words, the government will become the originator of the loan, instead of private banks.

From these savings, billions of dollars will be funneled into Pell Grants to assist low-income college students in funding their education. Currently 8.5 million students are benefiting from Pell Grants, which do not need to be repaid. When the bill comes into effect in 2014, student loan borrowers will only need to pay back 10% of their income, rather than the 15% in effect today.

“For a long time, our student loan system has worked for banks and financial institutions,” Obama told college students at the Alexandria, VA campus. “Today, we’re finally making our student loan system work for students and all of our families.”

We’re curious what college students have to say about this new bill. Will these changes have a positive impact on America’s future?

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Something for Nothing: Ridiculous Scholarships

July 7th, 2009 by admin

With a less-than-stellar economy on our hands, the need for college education is increasing while most pocketbooks are shrinking. Scholarships are the perfect tool to help motivated people reconcile the gap between wanting to go to college and having the funds to do so.

Scholarships are not just for child prodigies or those annoying SAT-crazed kids from high school. There is one just for you, the trick is finding it.

The argument that you can’t get something for nothing will fade away as you read our list of the easiest to obtain and most ridiculous scholarships out there.

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