Posts Tagged ‘how to pay for college’

How to Find Non-Need Based Scholarships

If your family already has the money to pay for your college, then you’re all set! If your family doesn’t have any money to pay for college, then you’ll qualify for financial aid, and then you’ll be all set!

But what about when your parents have the money to pay for college but aren’t willing to, or can’t? There are many college students who find themselves in a very difficult position when it comes to paying for their college education: they’re not getting any help from financial aid and they’re not getting any help from their families. Not knowing where they’ll get the money to pay for school, or if they even can, is a tremendously stressful feeling.

A non-need scholarship may be an answer to those of us who find themselves stuck in the middle. A non-need scholarship is money given to students for reasons that have nothing to do with their financial situation. Instead, they require that you submit an application, provide details about who you are and what you plan to do, and sometimes write an essay.

The following is a list of places to look and people to talk to regarding non-need based scholarships.

Where to look:

Cappex: By signing up for your free account with Cappex and creating a detailed profile for yourself, you can search for, as well as be matched with, scholarships where you’ll benefit the most from applying. Visit www.cappex.com/scholarships to find out more information on the many scholarships Cappex can put you in touch with.

Media: Check your newspapers and watch for commercials. Look for advertisements, flyers, and billboards. Information on scholarships is everywhere.

Online: Do a simple web search for non-need based scholarships.

Bookstores: There are books you can buy that list the different scholarships you can apply for and how to do so.

Who to talk to:

Teachers and Counselors: Educators receive lots of information on scholarships and would likely assist you in the application process as well.

Organization Leaders: If you’re a member of a church or club, such as scouts, your organization leader may have information on scholarships available for those groups.

Parents and Relatives: Ask everyone you know to keep an eye out for scholarships you could apply to. The more eyes involved in looking, the better your chances are of coming up with a few places to submit an application.

Best of all, find your matches on Cappex.com!

 

Obama to Announce New Student Debt Plan

Students, you can issue a minor sigh of relief (emphasis on ‘minor’). The White House is thinking about your student debt, and President Obama, bypassing Congress, is set to announce a plan today that allows for students to lower payments and consolidate their student loans.

It’s a fairly specific new plan for people who hold the two types of loans, but according to the Wall Street Journal, this means that 5.8 million Americans with both direct government student loans and government-backed private loans can now consolidate their debts into one government loan. Woo!!!! Wait. What does that mean?

Well, for the 5.8 million who this applies to, the new plan makes it so borrowers will wind up receiving a reduction of up to 0.5% in their interest rates since the private loan would be refinanced at the lower government rate.

Still, some question, as with any political move, is it just another step to secure young voters for the 2012 election? Maybe it is. But isn’t everything done for that reason? Or maybe it’s not. Either way, student loan debt is foreseen to be the next “bubble” to burst and a common concern among Occupy Wall Street protesters. At least someone is addressing this ginormous mutated pink elephant in the room.

With the nature of the current economy, many college-bound students are wondering if going into debt for a college education is even worth it with prices skyrocketing. Nobody, not even someone with a college degree can be assured a job. And with student loan debt second behind mortgages and actually ahead of credit card debt, students are fearful of taking on such debt without being certain they can repay it. It’s a huge, looming problem.

Along with the loan consolidation plans, Obama plans to accelerate a program to cap repayments. Currently, the rule on payment limits is that graduates can pay only up to 15% of their income with all debt forgiven after 25 years of payments. The rule Obama wants to put into place would lower the cap to 10% of a graduate’s income and loans would be forgiven after 20 years. Not too shabby…but, still, student debt is way too high for a nation with this much unemployment.

What can you do to lower your student debt before you’re already 15 feet in it? Scholarships. Apply for some.

Does student debt concern you? Does Obama’s plan sound good to you?  Leave a comment about it below.

10 BIG Scholarships With Upcoming Deadlines

Scholarships! Scholarships! Scholarships!

Maybe over the last couple of months you’ve heard your teachers, guidance counselors, and parents tell you to apply apply apply, but you’ve just never quite gotten your act together.  Well–now’s the time. And that includes students in any grade in high school and even college students. We’ve included 10 big scholarships that have a range of eligibility.

And for you high school seniors…Even while you’re hustling to get your college applications done and submitted on time, you can/should still be applying for scholarships instead of waiting until spring. They’re a great way to save money on college, and some are fairly easy to apply to. Just schedule some time in your calendar over the weekend (between practice and homework and applications and friends), and apply to a few scholarships. If you take time in the application, you may be pleasantly surprised in the future when you’re awarded a big hunk of cash to help pay for college!

1. Horatio Alger National Scholarships
Deadline: October 30
Average Amount: $20,000
Awards Granted: 104

2. Coca-Cola Scholars
Deadline: October 31
Average Amount: $10,000
Awards Granted: 50

3. Voice of Democracy Scholarship Program
Deadline: November 1
Average Amount: $10,000
Award Range: $1,000-$30,000

4. Intel Science Talent Search
Deadline: November 2
Award Range: $1,000-$100,000
Awards Granted: 300

5. FIRE’s “Freedom in Academia” Essay Contest Scholarships
Deadline: November 5
Award Range: $1,000-$5,000
Awards Granted: 7

6. PBA/NCA Sally Beauty Scholarship
(for cosmetology students)

Deadline: November 15
Average Award: $1,000
Awards Granted: 7

7. Susan G. Komen for the Cure Scholarship Program
(for breast cancer survivors and those who have lost a parent/guardian to breast cancer)
Deadline: November 15
Average Award: $10,000
Renewable

8. Ashley Soule Conroy Foundation Scholarship
(for students planning to study abroad)
Deadline: December 1
Average Award: $2,500

9. Most Valuable Student Award
Deadline: December 2
Award Range: $1,000-$15,000
Awards Granted: 500

10. Stephen J. Brady STOP Hunger Scholarships
Deadline: December 5
Average Award: $5,000
Awards Granted: 5