College
“Remember, what you possess in the world will be found at the day of your death to belong to someone else, but what you are will be yours forever” _Henry Van Dyke
“To find out what one is fitted to do and to secure an opportunity to do it, is the key to happiness” _John Dewey
“An investment in knowledge always pays the best interest” _Ben Franklin
"Go to a college were you can be a big fish and do really well" _McViney
There are a plethora of scholarships out there, and many of them go unclaimed," says Jennifer Hayes, creator of the site Smarty Pants Finance. "Billions, yes, billions with a B, of dollars in scholarships and grants are left on the table each year." Fastweb, Big Future, and Scholarships.com are some of the best places to start when looking to fund your education, said Hayes
Start SAVING EARLY
TIPS
Start early (newborn): Saving Early = Saving Smart! Watch Your Money Grow With Your Child (pdf)
Want to know how much it costs to go to a specific School? Just Google it......ask..."How much does it cost to go to ___________?"
Get an estimate of what college and career school will cost by the time your child is ready to attend. That will give you a good idea of how much you need to save. Cost Projector Calculator: This College Cost Projector calculator estimates how much college will cost with or without savings when you are ready to enroll.
Learn about the tax advantages of state college savings plans and prepaid tuition plans. Choose the right savings plan: Enroll as soon as you have a newborn to take advantage of the compound growth of your money.
Main college savings options are: 529 plans, ROTH Ira, Coverdell ESA and prepaid plans. What Are The Different Types Of College Savings Accounts? ; Best 529 College Savings Plans By State. 529’s and ESA are treated as a parent’s asset as long as the student is classified as a dependent for tax purposes.
For college savings use 529 plans and never use life insurance to save for college. Bad idea!
Wait to use the 529 money until the child is a junior in college to lessen the effect of their eligibility for financial aid and grants. Put the 529 under your name and name beneficiary when ready to tap into it.
Invest in a Roth under the name of the parents. This will give parents the power to choose when to give the money instead of the child gaining access at 18. And the money is considered a parent's asset and will not be judged as heavily by FAFSA as it would be if the brokerage account is under the children’s name.
Find funding help from grandparents/other family: it is going to be difficult for parents to pay for a full cost of a college education unless they start saving from the year the child was born, (use crowdfunding??),
Determine if your child is eligible for federal student aid (WARNING: NEVER apply for any loans...just look for grants, scholarships and work study jobs they offer)
Work in high school. Have your child start self-funding in high school. (summer job, part-time job, savings account)
Don’t forget to add fees, books, room and board that could cost and average of $10,000 or more a year
529 rollover to Roth IRA: A guide to conversion
Rollovers From a 529 Plan to Roth IRA: What to Know
Should You Pay for Your Kids' College?
Does Clark Recommend a Separate 529 Account for Each Child?
How Do I Avoid the Money in My Bank Disqualifying My Children From Financial Aid for College?
Understanding The Types Of Education Savings Accounts
How Much is your State’s 529 Tax Deduction Really Worth?
When to consider a Coverdell ESA to 529 plan rollover
Finaid Calculators : Finaid’s custom calculators help determine how much school will cost, how much students and families need to save and how much aid is needed to cover education costs.
If you want to start saving for your children’s college, open a 529 plan which is an education savings plan operated by a state or educational institution. The 529 plan is designed to help families set aside funds for future college costs which include special tax benefits. Got to www.savingforcollege.com/intro_to_529s/ to learn how to open one.
Best 529 College Savings Plans By State
The SmartStudent Guide to Financial Aid
The College Board keeps track of average college costs, comparing sticker price and affordability. Go to www.collegeboard.com for information.
The Time to Plan for Your Kids' College is Now!
The Ultimate Guide To College Hacking
Saving Early = Saving Smart! Watch Your Money Grow With Your Child
Thoughts Before Funding a 529 College Savings Plan
Who Should (And Shouldn’t) Use a 529 Plan
Recommended 529 Plan Amounts By Age: Careful Saving Too Much
529 Plans: The Ultimate Guide To College Savings Plans
Tax-free rollovers from 529 plans to Roth IRAs allowed as of 2024
What To Do With Leftover Money In A 529 Plan?
Rollovers From a 529 Plan to Roth IRA: What to Know
Best 529 plans to help pay for college | Clark Howard
The FAFSA: File Early to Get Aid for College: fill out the Free Application for Federal Student Aid (FAFSA) form to apply for federal student aid. State governments and many colleges and career schools also use your FAFSA information to award you their aid.
Parents guide to saving for college from Consumer Reports
College Funds: Investing for Your Child's Future
Raise.me A new way to earn money for college. With Raise.me, anyone can earn money (micro-scholarship) for college starting in 9th grade based on their achievements in school and life
Average net worth by age and education level. [Of Dollars and Data] — “The good news is that, while comparing yourself to others in this way can be useful for helping you to stay on track, net worth is not the be-all and end-all of personal finance. Because the most important metric in personal finance is whether your money is allowing you to live the life that you truly want.”
PODCAST
1) How to Use a 529 Plan to Manage Education Expenses Listen to Money Girl's Quick and Dirty Tips for a Richer Life on Apple Podcasts. https://podcasts.apple.com/us/podcast/money-girls-quick-and-dirty-tips-for-a-richer-life/id209859739
START PREPARING EARLY
TIPS
4 steps to college: KnowHow2GO is a campaign designed to encourage students and veterans to prepare for college. Explore the site to learn more about the steps you need to take to be college-ready.
Get good grades in high school (GPA 4.0?)
Talk to your school counselor about education after high school. Your counselor can answer questions about what classes to take in high school, how to earn college credits while in high school, how to sign up for standardized tests and where to get money for college.
Learn about the standardized tests your child will be taking during 10th through 12th grades. Consider taking a practice preliminary SAT/National Merit Scholarship Qualifying test (PSAT/NMSQT) collegeboard.com or the PLAN exam and the ACT ACT/College and career readiness
Take challenging classes in core academic subjects. Most colleges require 4 years of English, at least 3 years of social studies (history, civics, geography, economics, etc.), 3 years of mathematics and 3 years of science, and many require 2 years of a foreign language. Round out your course load with classes in computer science and the arts.
Consider participating in academic enrichment programs, summer workshops and camps with specialty focuses such as music, arts and science.
Take advantage of the Advanced Placement Program. AP exams give students the opportunity to earn credit or advanced standing at most colleges and universities while still in high school. Talk to your guidance counselor or teachers about the AP courses. Find out what courses are available and how to enroll in them. Mirror the class in high school to an AP exam … buy the book … study for both using the same class. What Is AP? The AP Program offers college-level courses and exams that you can take in high school
Demonstrate college-level achievement by scoring well and getting credit on an undergraduate course examination without actually taking a class by using the College Level Examination Program (CLEP) . Mirror the class in high school to a CLEP exam … buy the book … study for both using the same class. Earn College Credit with CLEP - CLEP | College Board
Do a dual enrollment: take college classes while still in high school. These classes will count both for high school and college credits. What is Dual Enrollment?
Apply for the online program Freshman Year for Free offered by Modern States intended to let students earn up to one year of college credit without tuition or textbook expenses Freshman Year for Free
Ask your school counselor about these programs above that allow your student to earn college credits in high school and whether they are appropriate for your child and applicable to the school your child is thinking of applying to.
See if you can stay a fifth year in high school and do only college classes for that 5th year. Some colleges and universities offer classes at a discount for high school students and let you participate in a lottery scholarship if available in your state that will pay for those classes. You will be able to get out of college in 3 years instead of 4. This works better if you are homeschooling.
Elementary School Checklist: Student and parent checklists that start the student on the road to enjoying learning and point the parent to resources for college savings accounts.
Middle School Checklist: Student and parent checklists that get the student thinking about high school and possible careers and encourage the parent to keep an eye on the student’s progress.
High School Checklist: Student and parent checklists that help the student focus on succeeding academically and learning about financial aid and provide the parent with tips for supporting the student and participating in the financial aid application process.:
Grad School Checklist: Checklist to help individuals get prepared for graduate or professional school.
Adult Student Checklist: Checklist for adults applying to college, including those who left high school before graduating, graduated high school, completed some college courses, or may be in the workforce.
Getting a Late Start?—Last-minute Checklist: Checklist for anyone who has been accepted at a college and is starting classes soon but hasn’t applied for financial aid yet.
How to save money as college costs soar
Emotionally Prepare to Send Your Kid to College
Colleges with Later Application Deadlines:
Know the Five Steps to Study in the U.S.
Prepare for college: Start preparing for college by defining your goals and interests, understanding college costs, and planning financially and academically
If you are an adult considering going back to school go to “Back to College” (www.back2college.com) a website devoted to helping adult students go back to college.
AP/Advanced Placement Program
What Is AP? The AP Program offers college-level courses and exams that you can take in high school: Your AP score could earn you college credits before you even set foot on campus. Your AP score can let you skip introductory courses in college. Earning credit or placement can even let you graduate early.
Take advantage of the Advanced Placement Program. Most American colleges and universities will award credits and advance standing to students who score well on the Advance Placement (AP) exams. By taking the right courses in high school or community colleges, gifted students can rack up AP credits. AP exams give students the opportunity to earn credit or advance standing at most colleges and universities. Learn more about the Advance Placement Program at https://apstudent.collegeboard.org
Popular AP Courses by Grade – College Board Blog
College Level Examination Program (CLEP)
The College Level Examination Program (CLEP) gives students of any age the opportunity to demonstrate college-level achievement by scoring well on an undergraduate course examination without actually taking a class. There are 2,900 colleges that grant credit and/or advance standing for CLEP exams. You only pay for the cost of the exam ($60) and if you or your child passes you avoid taking the actual course saving time and hundreds or thousands of dollars. To find a list of the 2,900 participating colleges go to www.collegeboard.com/student/testing/clep/about.html. Earn College Credit with CLEP - CLEP | College Board
SAT/PSAT/NMSQT
Daily Practice for the New SAT App | SAT Suite of ...https://collegereadiness.collegeboard.org/sat/practice/daily-practice-app The Daily Practice app features a new SAT question each day, provides instant feedback, and includes a practice test-scanning function returning scaled scores. Warning: Reading further will eliminate any excuse not to practice for the SAT. One Question a Day, Zero Excuses Make practice part of your routine—any place, any time.
You can also find free SAT tests at www.collegeboard.com so you can practice and boost your score.
Take the ACT more than twice: the school will pick up the best score of all of them.
https://collegereadiness.collegeboard.org/psat-nmsqt-psat-10
Students in 10th and 11th grade can take the new PSAT/NMSQT and PSAT 10 to measure readiness for college, access scholarships, and practice for the SAT.
What is the PSAT? - About the PSAT Test |
SAT to get shorter, go online-only by 2024, as colleges ditch standardized tests
DUAL ENROLLMENT
If you live in a state that offers Dual Enrollment, where high school students can enroll in college courses, you should consider High School of America (HSOA) which offers the best online dual enrollment programs. There is also an excellent program provided by HSOA called “College Prep Online”. These classes are offered as an additional class with your child’s regular curriculum sent to their teacher at their current high school or through private tutoring centers. If your student took this course, he could receive college credit that is accepted by public/private universities and colleges throughout America!
DUAL ENROLLMENT: THE PROS AND CONS YOU NEED TO KNOW
Dual Enrollment - All State Profiles
Traditional Dual Enrollment — Mount Wachusett Community College
SOPHIA LEARNING
Sophia Learning | Online Courses for College Credit : Take self-paced, online courses for college-level credit See how fast you can knock out your general education requirements with Sophia’s online courses. Take as many courses as you want for just a $79/month subscription fee, up to two courses at a time. Transfer completed courses for college-level credit.
MODERN STATES:
Modern states: Modern States’ initial program, Freshman Year for Free™, is intended to let students earn up to one year of college credit without tuition or textbook expense. Modern States is partnering with edX, the leading online learning platform founded by Harvard and MIT. Modern States has given edX the money to complete the development of more than 30 high quality freshman college courses, taught by some of the world’s leading universities and professors. Each course includes online lectures, quizzes, tests, and other features. Textbooks and materials will also be provided online, free of charge. The courses are designed to prepare students for the major “Advanced Placement” (AP)* or “College Level Examination Program” (CLEP)* tests offered by the College Board, including subjects such as History, Computer Science, Math, English and Economics. According to the College Board, more than 2,000 traditional colleges and universities already offer credit to students who pass AP and CLEP tests. Students can take one course or many courses from Modern States, and then – by passing the AP or CLEP exams – can begin with up to a full year’s worth of credit after they enroll in traditional college, making Modern States an “on-ramp” to college. Modern States hopes to provide links for students to tutoring, mentoring and college advising groups as well.
PODCASTS:
Preparing for the Cost of College | Brian Eufinger | Ep 460 (ChooseFI) Brian suggests all parents of 10th graders review the presentation they have available on this “Sophomore” page of their site and sign up for one of 50+ entirely free mock testing sessions to determine if the ACT or SAT is better for your student to focus on.
Freshman Year For Free (podcast): Take tuition-free, high quality courses online from top institutions for college credit at Freshman Year for FREE: via CLEP testing (Millionaire Educator talked about this on Episode 238 of ChooseFI) via ModernStates.org. From their site: “Modern States' "Freshman Year for Free" made preparing for a CLEP exam easier than ever with 30+ online courses available for free anywhere on-demand. Now you can finish a Modern States course, request a voucher to pay for the test fees and then take the corresponding CLEP exam right on your computer.”
learn about college hacking, college credits for less, ACE courses, CLEP exams, and the most cost efficient bachelors degree. ChooseFI Ep 386. Quote: ""I listened to podcast Episode 386 this morning and it inspired me to share on Twitter a thread on how I graduated from UC Berkeley when I was 18. I started going to community college after school and all summer when I was 14 and essentially earned an Associate’s Degree by the time I was 16. I graduated high school a year early (using those same college credits) and I had already done my 2 years general ed requirements when I got to Berkeley. I then did all my legal studies prereqs in 1 year and all of my legal studies courses in 1 year. It saved me so much money." Molly Retter-Goblin
Build a student portfolio
TIPS
Learn to make a good story about yourself when filling out applications
Build a good story (essay) using a student portfolio. Find a unique take that can truly make your essay stand out.
Create a theme using your extracurricular activities. Choose 1-2 passions and find things you want to weave together to create a common theme in everything you do.
Use google calendar for deadlines
Ask parents for help in recollection of any important experience you had
have an English teacher, tutor or editor help you or ask your parents to proofread your applications
keep copies of every essay so you can use it over and over again for other applications because most requirements are similar. This essay can be used for multiple scholarships
follow directions and word count and take in consideration the mission and agenda of the scholarship sponsor in your essay
What else to include in portfolio?: jobs, extracurricular activities, academics, athletics, community service, answer to common questions included in scholarship applications, project or work submission if required by scholarship, awards, honors, leadership positions, office you held, grade transcripts, letters of recommendation from teacher or professor or someone who knows you like an employer, coach, club adviser; test results (SAT, ACT, PSAT); paid and volunteer work and any other extracurricular activities.
Practice interview questions with parents
Use your summer wisely: work, volunteer or take a summer course at a local community college. Demonstrate leadership: be the team captain, get involved in drama, do photography for the school paper,
KNOW WHAT YOU WANT TO STUDY
Do not send your child to college if they do not know what they want to study. Your child will end up dropping out or failing because they have no real inspiration to do well and no end goal for the classes they are taking.
Want high earnings? Focus on the major, not a college’s prestige
College can help you turn your passions and interests into a career.
Research your career options: What do you want to do for a living? Research majors that might be a good fit with your interests and goals.
Explore career and their earning potential in the Occupational Outlook Handbook
Speak with adults such as your teacher, school counselor or librarian, relatives or family friends who you think have interesting jobs. Ask them “What do you like about your job?” and “What education did you need for your job?”
Talk to professionals who are in the job or career you are interested in and ask them how they did it. Use Linkedin to find them. Where did they go? You might discover they didn't go to an expensive fancy top tier school and are still very successful.
Expose your child early on to different experiences, different vocations, different jobs
Talk to your child about his or her interests and help match those interests with a college major and career
Become involved in school or community based activities that let you explore your interest and learn new things. Consider working or volunteering in those areas.
If you have no clue what you want to be when you grow up, take a gap year. Go to Gap Year Association and learn how to earn college credit even while not attending. Make sure the college or university will accept these college credits.
Be intentional. What is it that you want to do in life, what degree is going to do that for you and get the best deal
Do not chose a field you will not a get a job, or will be eliminated by technology in the next decade
Take advantage of internships both in college and high school to find out what is it what you like or don't like so you can change your major or career choice early on if needed
Attend as many career day fairs at school
If you don’t really want to go to college explore other alternatives like trade schools Apprenticeship.org
Trade jobs like plumbers, electricians, carpenters, stylists and mechanics are highly valued, necessary and pay well
If you are not academically inclined and this environment doesn't come easy to you, find something that comes easy to you and you will make more money and be more successful
Go to a state supported technical college which is cheaper. Never go to a for profit training center or school. There are a lot of for profit that are very expensive, will not give you the training you need to work, will lure you into getting into lots of student loan debt and will end up insolvent after getting millions from their students.
college is not for everyone
Remember about 40% never graduate due to lack of motivation, clear goals or lack of funding
Use the MyNextMove.org tool for career exploration and job analysis.
Visit CareerOneStop.org, your source for career exploration training and jobs.
Explore the Occupational Outlook Handbook (OOH) for detailed information about over 300 occupational profiles.
Demonstrate the Importance of College or Career School
Some students don't see the benefit of continuing education beyond high school. We've provided an infographic (downloadable below) to show them that as they get more education, they will make more money and have more job opportunities.
Tip: Many students respond better to visual representations of information than to paragraphs of text. Infographics such as Why Go to College or Career School are a great way to get a point across quickly.
Talking point: According to 2016 data from the Bureau of Labor Statistics, someone with a bachelor's degree will make (on average) 75% more than someone with just a high school diploma.
Why Go to College or Career School? graphic : Graphic that shows the average earnings for people 25 years of age and older with different levels of education.
The Most and Least Valuable College Degrees, According to Job Seekers
Occupation Finder : Occupational Outlook Handbook : U.S. Bureau of Labor Statistics
Campus Explorer gives prospective students the option to search for colleges by location and or degree/program type.
The Most-Regretted (And Lowest-Paying) College Majors
Educaedu is essentially a search engine for degree programs. To use Educaedu select the geographic area in which you would like to study. Then select the type of program you are searching for. Educaedu will then generate a list of schools offering your desired degree program.
Report: The 10 Most and Least Valuable Degrees
What to do in a gap year: Outdoor Education Adventures & Wilderness Programs | Outward Bound |
10 Reasons Why You Don’t Need a College Degree to Succeed
Career One Stop Your source for career exploration, training and jobs. Provides information about jobs, training, career resources, and unemployment benefits for transitioning Service Members, Veterans, and military spouses. CareerOneStop offers resources targeted for a career changer, laid-off worker, worker with a criminal conviction, entry-level worker, older worker, young adult, workers with disabilities, business, career advisor, and credential seeker.
25 Best College Majors for a Lucrative Career
The most regretted college majors: English, communications, biological sciences and law were among the most regretted college majors, according to a recent survey. On the upside, students who focused on computer science, business, engineering and health administration felt very good about their choices. Read in CNBC: https://apple.news/A7ZzqorlfSDyHOn_YdqSMcg
BOOK: Occupational Outlook Handbook, 2019-2029: Bureau of Labor. The Occupational Outlook Handbook (OOH) is the premier, nationally recognized source for career information. Especially designed to provide valuable up-to-date information, the Handbook is great for all individuals making decisions about their future including students about to graduate from high school or college, recent graduates, individuals returning to the workforce after an absence, or anyone looking for a career change. It reflects employment projections for the next decade. It includes information on the fastest-growing occupations, number of new jobs, and a summary of the highest-paying occupations.
QUOTES:
Journalist and author Derek Thompson on how to succeed as a writer in the modern world:
INTERVIEWER: "What advice do you give to a recent college grad who comes up to you and says I'm interested in journalism and writing books?"
THOMPSON: "...there is a paradox to scale, I think. People who want to be big sometimes think, "I have to immediately reach the largest possible audience." But in a weird way, the best way to produce things that take off is to produce small things. To become a small expert. To become the best person on the internet at understanding the application of Medicaid to minority children, or something like that. And the reason why I think this is true I call my Tokyo example. If you go to Tokyo, you'll see there are all sorts of really, really strange shops. There'll be a shop that's only 1970's vinyl and like, 1980's whisky or something. And that doesn't make any sense if it's a shop in a Des Moines suburb, right? In a Des Moines suburb, to exist, you have to be Subway. You have to hit the mass-market immediately. But in Tokyo, where there's 30-40 million people within a train ride of a city, then your market is 40 million. And within that 40 million, sure, there's a couple thousand people who love 1970's music and 1980's whisky. The Internet is Tokyo. The Internet allows you to be niche at scale. Niche at scale is something that I think young people should aspire to." Source: Masters in Business
PODCASTS:
Who Should Go to College to Get a B.A.? https://www.aei.org/wp-content/uploads/2011/10/Murray%20Intelligence.pdf. Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/radical-personal-finance/id896153632?i=1000564709776
WHERE TO GO?
TIPS
Go to an institution that offers many free degrees: University of Maryland, Virginia, UMC, Michigan, Antioch, New Hampshire, Stanford, Princeton, Yale, Harvard, Duke, Louisiana State, Vanderbilt, Cornell, Columbia, Brown, Penn, Dartmouth, Alice Lloyd, Berkeley and alot more. You can also get a 4 year degree at state colleges if you live in Colorado, Indiana, Iowa, Louisiana, Massachusetts, Minnesota, New Mexico, New York, Oklahoma, Washington, Wyoming. And 31 states are offering free 2 year associates degrees. These are usually state colleges and universities. So if you are a resident of any of these states and are applying for a state university or college.. Tell the registrar office that you read about free degrees/tuition in your state and ask if you qualify for it.
U.S. News Best Colleges: find the top 50 public national universities, look for public institutions.
College Navigator - National Center for Education Statistics College Navigator is a free consumer information tool designed to help students, parents, high school counselors, and others get information about over 7,000 postsecondary institutions in the United States - such as programs offered, retention and graduation rates, prices, aid available, degrees awarded, campus safety, and accreditation.
CollegeLab - A Tool to Help Students Find Colleges They May Like
Integrated Postsecondary Education Data System: primary source for information on U.S. colleges, universities, and technical and vocational institutions including key statistics found in federal data, including retention and graduation rates; cost, likelihood of admission, speedy graduation
Start looking for college in the 9th and 10th grade. Figure out what schools give money and what is important to them. What are they looking for using "common data set & the name of the school or college". This will tell you what they are looking at, what is important to them, what GPA you need and how they give out money. The Common Data Set: What It Is & How to Use It In College Applications
Go to an in-state community college first to get your general education or prerequisite classes for the first 2 years. Make sure they transfer to a 4 year school that accepts credits from that community college. Talk to the registrar’s office to check course equivalents. Start taking these classes right after high school graduation in the summer. Check if your state offers these 2 years for free (Promise program or Modern state Education Alliance-SEE COVERING THE COST BELOW FOR INFORMATION ON THESE 2 PROGRAMS). Then transfer to a university that accepts credits from that community college. Many times successful attendance at a community college almost guarantees acceptance to a 4 year institution. Applying as a transfer student will double your chances of acceptance and save money. Make sure they have a good transfer program; their classes are accredited in most of your in-state schools and make sure the school you want to go to will accept those credits. Also ask and apply for transfer scholarships once you move from a community college to a university you are transferring to if they are available. -American Association of Community Colleges;
Go to the Department of Education’s College Scorecard to find important information about schools, like what percentage of students graduate, how much debt students have, and whether students are able to repay their loans.
-Is Community College Free? Yes, in These 31 States
Waste of time’: Community college transfers derail students
There are 44 states that offer free community college if you get a B or better, there are 300 programs that offer associate's degrees plus you can transfer to a 4 year program and cost college in half.
Go to school near your home, You will save money on room and board and transportation.... better yet... stay and eat at your parents for free!
Attend an in state public university (cheaper than out of state or private college)
Consider also less popular schools with better packages. Smaller private schools can offer large amounts of scholarships for students who fit their desired student body. Smaller schools have fewer students applying for financial aid and are able to give better packages to those who apply.
Move to another city, state or country for more affordable college options. You should go to a school located in an area with the lowest cost of living even if school is free
Go to a school where their GPA requirement is not as stringent to get in the honors program which will be easier because you are competing just with your peers. Seek colleges where the students’ median grade point average (GPA) and test scores resemble yours.
Check college co-ops that pays college money via internships. Join a co-op program and get paid to earn college credit College Co-Op Programs: What You Need to Know
Work as a regular employee at the school you want to study at or have one of your parents work at the school. Some schools offer free or reduced tuition to its regular employees and their dependents, some of them even if the employee is part time. Find their requirements to qualify: some ask you to work for a couple of years in order for your child to be eligible.
Find a college that fits your values: College scoreboard: find the right fit
Go overseas: many countries want to attract international students and some like Germany offer free tuition. 6 European Countries With Free College Tuition;
going to an elite school will not improve your career prospects or increase your income
The only right school is the one you can graduate debt-free
Find colleges that offer ISA (Income Sharing Agreement) like Perdue where you share your income for 2-10 years to repay college expenses. You don’t pay any tuition, instead upon graduation you have to pay Purdue University for example 17% of your pay for 2 years. Income Share Agreements: What to Know; Income-share agreements are a new way to fund your college education. Instead of paying interest on a student loan, you agree to give your lender rights to a percentage of future income.
Look into online programs which can be free or at a reduced price
Do not enroll in a for profit school
Narrow down the list of colleges you are considering attending. Visit college campuses preferably when classes are in session. Go to college fairs. Learn about deadlines and requirements. Campus Explorer
Ask employers to recommend schools that provide training in the skills you will need for the career you choose
Review award letters from schools to compare amounts and types of aid being offered . Decide which school to attend based on a combination of (a) how well the school suits your needs and (b) its affordability after all aid is taken into account
Most employers don't care where you graduated from as long as you can do the work. So choose the school that gives you the best financial options for the degree you want.
Discuss the Connection Between School and Career
Because going to college or career school is a big investment in time and money, we want to help you encourage your students to explore their options based on their interests and talents. Send them to StudentAid.gov/resources/prepare-for-college/students/career-search to find some self-analysis questions to ponder.
Talking point: What you study and where you study can have an impact on the job you get. Students who are undecided about a career or a college major should use the career search (link attached) to identify careers that might suit them.: Career Search Explore potential careers using this career search tool with info on typical duties, education needed, average salary, and more.
Direct Students to Free College Search Tools
As your students prepare to choose schools to which to apply, you might want to suggest they explore the tips at StudentAid.gov/choose. They will find plenty of information about things to consider beyond just price or location.
There are a number of free college search tools on the web. The U.S. Department of Education's tool, College Navigator, allows students to search for schools by location, degrees offered, programs/majors, tuition and fees, setting, size, and much more. The search results for each school will give them a wide range of information such as estimated student expenses, types of financial aid provided, admissions requirements, accreditation, and graduation rates.
U.S Department of Education’s College Scorecard : Search and compare colleges: their fields of study, costs, admissions, results, and more.
The Best Life Hack For Americans: Taking Advantage Of Canada: read section about going to study there
Want high earnings? Focus on the major, not a college’s prestige
Does It Still Make Sense To Go to College?
Some of the nation's top colleges are eliminating student loans
College Tables : This has info on several thousand colleges and universities in the US
Where to Find the Cheapest In-State Tuition For College
Waste of time’: Community college transfers derail students
100 Colleges Whose Grads Go on to Earn the Most
Why You Should NEVER Apply To An Out-Of-State College
The Parents’ Guide to Helping Your Child Choose a College
Visiting different colleges can get pricey with the cost of food, fuel and lodging. First log on to www.campustours.com which links to free virtual online college tours so you can decide before hand if you really do want to visit any of them.
www.unigo.com is a free website built by current students at various colleges were you can get college reviews, photos and videos
You can take courses in practically anything online. Visit www.elearners.com/ww for information about more than 2,000 online degrees and certificates offered by more than 150 institutions.
CollegeLab - A Tool to Help Students Find Colleges They May Like
College Navigator (College Search Website) : The U.S. Department of Education's tool, College Navigator, allows students to search for schools by location, degrees offered, programs/majors, tuition and fees, setting, size, and much more. The search results for each school will give them a wide range of information such as estimated student expenses, types of financial aid provided, admissions requirements, accreditation, and graduation rates.
Check America’s Best colleges at https://www.usnews.com/education and look for “ranking-best colleges”
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Campus Explorer gives prospective students the option to search for colleges by location and or degree/program type.
College Confidential provides students with a wealth of information and tools for choosing a college, applying to college, and paying for college. After being accepted and figuring out how to pay for college, students can come back to College Confidential to learn about what to expect in their first year and how to thrive as a new college student.
Unigo relies on huge database of student generated content for college reviews. Unigo has reviews written by students as well as video content. The value of Unigo extends beyond college reviews to first-hand accounts of mistakes made and lessons learned in the first year of college.
Find the Right Fit for College: College Scorecard is an interactive website that helps students find the right fit after high school. With the updated website, students can search and compare colleges and find information about fields of study, costs and admissions.
Integrated Postsecondary Education Data System : primary source for information on U.S. colleges, universities, and technical and vocational institutions including key statistics found in federal data, including retention and graduation rates; cost, likelihood of admission, speedy graduation
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College scorecard FIND THE RIGHT FIT. Find out about colleges: their programs, costs, admissions, results, and more.
College Scorecard: Find the college that's the best fit for you! The U.S. Department of Education's. College Scorecard has the most reliable data on college costs, graduation. You can search by program, degree, location, site,
Go to a State College or University instead of using private schools. You will save thousands. To find the top 50 public national universities go to www.usnews.com/college and look for public institutions.
Use a Community College for the first two years of university education. There are many community colleges in the US offering transfer degree programs. Students take courses for the first two years of university and come out with a two year degree. Most four year schools will allow all or some of the credits earn at the community college. In many cases, community college students are allowed to enter as a third year undergrad. The national average annual tuition of a community college is less than half of the average four year college. Learn about community colleges in your area at the American Association of Community Colleges website www.aacc.nche.edu Make sure before enrolling that the Community College has transfer degrees.
Community college tuition is about $3,660 a year—here's how much students pay: Published tuition costs do not account for scholarships, grants and tax benefits. The College Board broke down what the average net price of college is today — taking scholarships and grants into account — and found that students typically pay less than the published price.
PODCASTS:
Millionaire Educator on Episode 238 of ChooseFI: How To Test Out of College While You’re Still In High School
How long has it been since you applied to college? These days it seems every school wants something different, but the process doesn’t have to be anxiety-inducing, say this week’s guests, Eric J. Furda and Jacques Steinberg, authors of “The College Conversation.” The pair offer up a step-by-step guide to having some tough conversations, assessing the schools best suited to your child’s interests, getting financial aid, and making the final decision on a school. In Mailbag, we tackle alternatives to college savings accounts, the best financial books for women, and securing a financial planner. In Thrive, how to capitalize on the gold rush. Listen on Apple Podcasts: https://podcasts.apple.com/us/podcast/hermoney-with-jean-chatzky/id1098802558?i=1000492203471
COVERING THE COST
TIPS
Go to an institution that offers many free degrees: Maryland, Virginia, UNC, Michigan, Antioch, New Hampshire, Stanford, Princeton, Yale, Harvard, Duke, Louisiana State, Vanderbilt, Cornell, Columbia, Brown, Penn, Dartmouth, Alice Loui Barkley and a lot more. You can also get a 4 year degree at state colleges if you live in Colorado, Indiana, Iowa, Louisiana, Massachusetts, Minnesota, New Mexico, New York, Oklahoma, Washington, Wyoming. And 31 states are offering free 2 year associates degrees. These are usually state colleges and universities. So if you are a resident of any of these states and are applying for a state university or college.. Tell the registrar office that you read about free degrees/tuition in your state and ask if you qualify for it.
And a lot of companies are now paying for college for their employees: Fidelity, Chipotle, Starbucks, Walmart, Amazon, Macys, JPMorgan Chase, Boeing, Discover, Disney, Papa John, Target, Verizon, Taco Bell, T-Mobile, Home Depot, Lowes, Publix, Qualcomm, Waste Management, US Armed Forces and so many more.
Please be mindful of the fact that you still need to pay for room and board, curriculum fees, other campus wide fees, health insurance, books, supplies, personal expenses and transportation which could go up to 10K-15K a year.
You Need Money for College or Career School? Apply for Federal Student Aid * (PDF)
Finaid: The Go-to Guide for College…….Financial Aid Information on financial aid for college and tips on how to help ease the burden of college expenses.
College Board: keeps track of average college costs, comparing sticker price and affordability.
Learn the difference between grants, loans, work-study and scholarships at
-Types of Aid and Elig - Financial Aid Toolkit Eligibility | Federal Student A;
-Types of Financial Aid: Loans, Grants, and Work-Study Programs
Use the Federal Student Aid Estimator: Before you complete the FAFSA form, the Federal Student Aid Estimator can help you understand your options to pay for college or career school by providing an early estimate of your Expected Family Contribution (EFC) and eligibility for federal student aid.
Start looking for scholarships as soon as you enter middle school. Some deadlines fall as early as the summer between 11th and 12th grades so prepare now to submit applications soon. Check Scholarship Finder/Career Onestop;
Talk to your high school counselor, use your library reference section, look into foundations, religious or community organizations, local businesses or civic groups, look for organizations (including professional organizations) related to your field of interest, look for ethnicity-based organizations, check your employer or your parent’s employers. Experts Reveal 18 Places to Find Scholarship Money for College
Promise Program: Promise Programs are place-based scholarship programs that make college tuition free for at least one college. While all require residency and a high school diploma, some have additional eligibility criteria – such as a minimum GPA. Finding Promise Programs Near You
Modern States: Modern States’ initial program, Freshman Year for Free™, is intended to let students earn up to one year of college credit without tuition or textbook expenses
UNIGO: Find Over 3.6M Scholarships & Grants; 650K College Reviews, College Stats & more to help you pay for college
Find scholarships for college students (CAPPEX) (merit based)
Take advantage of scholarship search engines: Big Future (college board);
Search every day for at least 1 hour…. Apply for 3 scholarships each week during high school.
After researching some scholarships write down the ones you think you qualify: use an excel sheet with the scholarship name, contact information, deadlines, and requirements. Sample of what to put on a google sheet or excel for scholarships
Apply for financial aid early (don't wait until last year of high school/don't wait for end of school year)... you will have less competition. Start filling out the FAFSA (Free Application for Federal Student Aid) fafsa.gov every year beginning in junior year of high school and before the school year they will attend college. Many colleges will use this form to make decisions and to determine if a student qualifies for scholarships, grants and work-study programs. Don’t assume FAFSA won’t help because of high earnings.
If you want to get money for college ... the GPA (grade point average) and the SAT score drives scholarships from the college directly so get high grade point average (GPA) and high SAT scores. Sign in for the app "daily practice for the sat" three years early in the 9th grade and practice one question a day....... by the third year 11th grade you will have 3 years taking the test and getting high scores. SAT Daily: Exam Prep and More
There are some colleges that will give you a merit based full ride if you have 1,400 GPA and 4.0 SAT Official SAT Practice
Please be aware that in some schools SAT’s might not be required anymore.
Play the odds: You are not going to get approved for every scholarship. Apply to as many as possible (40-70 a year at least) even if you get a full ride…you may use that money for next year or save it for graduate studies. A rejection means not right now.. apply again next year. Go to college “for your profit not theirs” by gathering as much $$ as you can.
Never stop applying after enrollment.. there are many scholarships available to current college students and graduate students not just high school seniors
Join the military or reserve service. You will find huge opportunities at the U Service Academies (Naval academy, Air-force (West Point), Coast Guard and Merchant Marine Academy. You will get free tuition plus $1,000/month to pay for uniforms and books. Consider also the Reserve Officer Training Corps (ROTC). Through ROTC, you can start a military career in health care, aviation, finance, engineering, chemistry, law enforcement and transportation, just to name a few. Additionally, each of the armed forces has its own ROTC programs. That means you can choose the service and career path that appeals to you.
Find colleges that offer ISA (Income Sharing Agreement) like Perdue where you share your income for 2-10 years to repay college expenses. You don't pay any tuition, instead upon graduation you have to pay Purdue University for example 17% of your pay for 2 years. Income Share Agreements: What to Know
If your family makes too much $$$ just look for colleges that offer merit scholarships
Take advantage of Tuition Assistant Programs at work.
Don't ignore smaller scholarships. Ten scholarships that give you $1000 each are as good as one $10,000 scholarship. Smaller scholarships often have less competition and they can add up to a significant amount. Look for local social clubs, groups supporting certain nationality, religion or heritage you might belong to, local public competitions (art, spelling bees, debate clubs)
Ask the school you plan to attend what other financial help they can offer you. Do they have scholarships or payment plans available? Can you get a job on campus? Talk to the financial aid office staff at the school you plan to attend. Ask whether there are other forms you need to compete and find out how and when you will receive your financial aid.
Avoid scams: Protect Your Identity; -Avoiding Student Aid Scams | Federal Student Aid; -Don't Get Scammed on Your Way to College; -6 Signs Your College Is a Scam
Find the office of Federal Student Aid on twitter FAFSA on twitter or the Federal Student Aid on Facebook Federal Student Aid on Facebook to get regular financial aid tips.
Graduate from college with an amount of debt less than what you earn on the 1st year on the job and you will be fine. That is the ceiling, you can handle that debt and can pay in a reasonable amount of years.
If you think you need to take loans, make sure to keep your total loan balance below the average starting salary for a career in your degree field. Make sure you are getting the lowest interest rate possible. Find out when the interest starts accruing. Immediately? Or after graduation? When do you need to begin making payments? After graduation? Immediately? A few months after graduation? How are you going to pay for this loan?
When it comes to paying for college, career school, or graduate school, federal student loans can offer several advantages over private student loans. Look for student loan/financial aid (use this as a last resort….remember most student loan debt can last 10-20 or more years before full repayment weighing down any future goals of getting married, starting a family, buying a home)
Where to go for additional information?: public library or local bookstore, campus library, scholarship resources at high school, old graduation programs or school newspapers that could mention scholarship awards won by recent graduates. Use internet tools to search for scholarships, grants and contests…..Internet: Twitter, Google, Bing (beware of scams on the internet thou)
Whom to talk to (personal interviews) for additional information?: the high school counselor, the financial aid officer or scholarship coordinator at the school you are interested in, other parents of older students, recent graduates
Is College Worth It? How To Calculate Your ROI (return on investment)
Remember 40% is the average drop out often due to financial pressures
Where Should My Daughter Put Her $15,000 Until She Pays for College?
How To Game The College Financial Aid System: if you want to understand how to receive the most free money when applying for college, read this. The post will teach you how the system works.
Preparing for the Cost of College | Brian Eufinger | Ep 460 (podcast) Brian Eufinger discusses ways to best prepare your children for college admissions, navigating the new changes to FAFSA and the CSS profile, and how you can maximize prepping for your child’s higher education. While college prep can be stressful for students, from maintaining their GPA to taking multiple standardized tests, it can be just as stressful for parents to figure out financial aid and how to best set up their child for success before and after graduation. However, knowing the factors to consider early on and having the knowledge in advance can make this process far less daunting! While stressful as it may be, remember that there are many different resources available to you and your child that give you the knowledge that may alleviate the pressures that come with college prep and financial aid!
The first step in your financial aid process is filling out your Free Application for Federal Student Aid (FAFSA). FAFSA is an application used by most colleges, universities, and career schools for awarding federal, state, and college-funded student aid. Complete the form online and use it to apply for grants, loans, and work-study opportunities that you may be eligible for. This is a great way to start your benefit search and help you find new programs and resources.
NeedyMeds scholarships: This is a listing of scholarships that are offered for students with specific medical condition(s) or diagnoses and also non-medical challenges such as social, emotional, psychological or educational issues. There are also some for students who have a parent or a family member with a specific diagnosis. Most can be used at any school.
Some cover one specific condition, while others cover whole types of diagnoses (such as all types of cancers) or even all chronic diseases. Some address the needs of those with non-medical specific challenges. Most have some type of eligibility requirements, usually financial ones.
Sophia Learning: Low-cost courses to transfer toward your degree
Modern States: Freshman Year for Free ....Take tuition-free, high quality courses online from top institutions for college credit.
Study.com: COLLEGE ACCELERATOR......Flexible, online college courses that are easy to transfer
Sophia Learning’s Partners who accept their credits
What college costs
-How much money are you willing to spend on that education?
- Graduate from college with an amount of debt less than what you earn on the 1st year on the job and you will be fine. That is ceiling you can handle that debt and can pay in a reasonable amount of years.
-How much debt are you willing to incur
-Consider ROI (return on investment) take in consideration the cost/benefit ratio
-don’t go to a school you cannot afford
-Don’t spend money that you will never be able to repay
-consider the consequences
Types of scholarships/grants: need base, merit base and association based
All are first come, first serve so file your FAFSA and submit your application as early as possible
-Start applying in your junior year at high school
-Ask parents for help in research or recruit your own group of peers to help one another
Need base (mostly grants)
Merit and Association based scholarships: begin exploring scholarship opportunities by taking an inventory of things that make you unique. If your family makes too much $$$ just look for colleges that offer merit scholarships.. don’t bother with need base.
Where to go for additional information: public library or local bookstore, campus library, scholarship resources at high school, old graduation programs or school newspapers that could mention scholarship awards won by recent graduates. Use internet tools to search for scholarships, grants and contests…..Internet: Twitter, Google, Bing
Whom to talk to (personal interviews) for additional information: the high school counselor, the financial aid officer or scholarship coordinator at the school you are interested in, other parents of older students, recent graduates
Find billions in merit-based scholarships at www.meritaid.com Just type the name of the school to find opportunities.
7 Steps To Maximize the Chance of Winning a College Scholarship
Estimate Your Federal Student Aid: Before you complete the FAFSA form, the Federal Student Aid Estimator can help you understand your options to pay for college or career school by providing an early estimate of your Expected Family Contribution (EFC) and eligibility for federal student aid.
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Just google tuition and fees and the name of school and will give you information about costs of school, graduation rate, median income
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Middle-class single parents, along with older parents with healthy savings, may be shocked by how much they’re expected to pay toward college: https://humbledollar.com/2021/01/goodbye-assets/
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Visit StudentAid.gov to learn about financial aid choices, FAFSA deadlines, repayment options, and more.
avoid these 11 common FAFSA mistakes.
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Student Aid on the Web is the US Department of Education’s site for free information on preparing for and funding education beyond high school. http://studentaid.ed.gov
CSS Is One Source of College Financial Aid You Can't Afford to Overlook
FAFSA Tips To Get More Financial Aid
The first place to go for information about scholarships, grants, work study programs and financial aid should be the financial aid office of the college or university your child wants to attend.
Tip: Always apply for FAFSA even if you think you don't qualify. If you are a high income earner your child may qualify for a merit scholarship. If you have several children , you may qualify in spite of the high income. And.. you never know your situation can change.
There is the Federal Pell Grant which is awarded to undergraduate college and university students on a financial need basis. Use a free calculator at www.FinAid.org to figure out your financial need, EFC (expected family contribution) and financial aid. Click on calculators and then look under Needs Analysis. There is also the Federal Supplemental Educational Opportunity Grant which is awarded to undergraduate students who demonstrate exceptional financial need (whose family EFC is very low). Other programs to ask about: The Robert C. Byrd Scholarship that provides financial aid to students who have demonstrated outstanding academic achievement.
Many local companies offer scholarships. Call the chamber of commerce for information. Examples of companies offering them: the Coca-Cola Scholars foundation offers awards to high school seniors $10,000-$20,000 for achievement in the community and the classroom www.coca-colascholars.org
SMART Scholarship for Service. The SMART Scholarship-for-Service Program was established as a concentrated effort to enhance the Department of Defense (DoD) workforce with talented, innovative and brilliant scientists, engineers and researchers. The DOD Smart Scholarship program aims to increase the number of civilian scientists and engineers working at DOD Smart Scholarship laboratories. The winning candidates will get a full tuition plus a stipend paid at a rate of $25,000 - $38,000 amount per year while going to school. Needs a 3.5 GPA and will need to work after for government for every year they pay for school.
There are hundreds of thousands of scholarships and fellowships awarded each year. Some are academic based; others are awarded based on personal interests, talents and skills. There is no limit to the number of scholarships your child can amass. Example: Ben Kaplan used his spare time during his senior year of high school to apply for dozens of scholarships from all kinds of sources and graduated debt free from Harvard with a degree in economics. Learn more on how he did it by going to his website www.BenKaplan.org or even better buy his book How to go to College almost for Free
Some excellent scholarship search engines are www.scholarshipcoach.com , www.fastweb.com and www.collegeanswer.com .
Scholly - #1 College Scholarship App & Student Success Platform: Scholly was created by Christopher Gray, who won $1.3 million to help him pay for school by applying to hundreds of scholarships using grit, sweat, and hustle. And he did all that work as a homeless high school student. In realizing how broken and time consuming this process was, he created Scholly to make things much easier.
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https://www.collegeaffordabilityguide.org/co-op-programs/
National Co-Op Scholarship Program: WACE's program is the largest independently sponsored merit co-op scholarship program in the U.S. From 2003-2014, it awarded $39 million to 1,635 high school seniors and transfer students.
Edvisors: Financial Aid, Student Loans and College Scholarships
Listen to How to Avoid College Debt, with Anthony ONeal from Afford Anything on Apple Podcasts. https://podcasts.apple.com/us/podcast/afford-anything/id1079598542?i=1000460925767
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The Union Plus Free College Benefit: With the Free College Benefit, union members and their families do not have to pay out of pocket for any tuition, fees or e-books at Eastern Gateway Community College—resulting in cost savings of thousands of dollars! The benefit works as a “last-dollar scholarship”, or grant, through Eastern Gateway Community College, that is intended to fill the gap between any federal, state or employer education grants you receive and the cost of tuition, fees and e-books for certain online degree programs at Eastern Gateway Community College. It does require an investment of your time and attention!
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Find scholarships and college grants information at CareerOneStop. Scholarships are financial gifts that help students pay for school. They can come from a college, community group, business, or the government.
Fastweb the leading online resource in finding scholarships to help you pay for school. It is free and the most authentic source in the country for scholarships.
The transition between high school and college is a tough one. It takes much more motivation and determination to not only become admitted into a school but also to pay for it. Having a handy scholarship guide is useful for students who need the extra boost. Fortunately, many books about scholarships and guides about how to receive them are readily available. Check out Ten Best Scholarship books
The Red Flags of Student-Loan Scams
Eligibility for Federal Student Aid
Eligibility for federal student aid is based on financial need and on several other factors such as U.S. citizenship or eligible noncitizenship, enrollment in an eligible program, satisfactory academic progress in college, and more. The full list of our basic eligibility criteria is on our student site.
Tip: A quick URL to share with your students for information on federal student aid eligibility criteria is StudentAid.gov/eligibility.
Talking point: There is no such thing as an income cut-off for federal student aid. Eligibility is based on a number of factors, including a complicated mathematical formula. No student should assume that he or she won't qualify for federal aid. Filling out the FAFSA form is the only way to find out. And please remind your students that the FAFSA form is also an application for state and school aid—and many schools won't consider a student for their aid (even merit-based aid) unless the student submits a FAFSA form.
FAFSA:
Federal Student Aid
Aid is available from the federal government in the form of grants, work-study funds, and loans. Students use the Free Application for Federal Student Aid (FAFSA®) form to apply. Besides referring your students to the information at StudentAid.gov/types to learn about federal aid, you also can recommend they visit StudentAid.gov/resources for fact sheets, videos, and infographics. Meanwhile, you can access those items and more here on the Financial Aid Toolkit. We've provided a feature to help you search financial aid tools and resources that you can use in advising students about aid.
Do You Need Money for College or Career School? Apply for Federal Student Aid
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Visit StudentAid.gov to learn about financial aid choices, FAFSA deadlines, repayment options, and more.
avoid these 11 common FAFSA mistakes.
it’s time to fill out the Free Application for Federal Student Aid (FAFSA)
PODCASTS:
Financial inTuition Podcast: The goal of the podcast is to educate, inform, and engage students, parents, and practitioners with tools and resources created to help them make more informed financial decisions. This podcast will help listeners with tips and strategies to find their inner financial intuition, one money topic at a time.
PODCAST: 114 | Demystify College Scholarships - ChooseFI
State Financial Aid
To find out about state financial aid for college, try www.ed.gov/sgt to find your state agency's website.
Talking point: Often, students and parents comment that they don't qualify for federal aid or they qualify for too small an amount. State aid could help fill in some of the gaps.
Financial Aid From the College
Many colleges offer financial aid from their own funds. Direct your students to visit a school's financial aid website for information about aid available at that school. For students with an interest in a particular area of study, encourage them to inquire about any available scholarships in that area or department.
Talking points:
When a student submits the FAFSA® form, he or she is automatically applying for aid from not only the federal government but also the state and—in many cases—the college(s) he or she has listed on the FAFSA form.
Students should be sure to meet any financial aid deadlines the school may have.
Finding Scholarships
One of the most frequent questions we hear from students at college fairs or financial aid information events is, "How do I get free money to help me pay for college?" While the FAFSA form is an application for certain free money (grants and scholarships), not all students will qualify. That's why we've provided information to help them find and apply for scholarships at StudentAid.gov/scholarships.
Talking points:
Students should spend the summer between their junior and senior years of high school looking for scholarships, determining which ones are right for them, noting application deadlines, and submitting any applications that they possibly can at that point. They'll have plenty to keep them busy during fall of senior year, so getting a head start will make a difference in levels of stress and anxiety.
As a student assesses which online scholarship search to use, he or she should consider whether it is free and, if it requests personal information from the student, he or she should carefully read its privacy policy.
Department of Labor Scholarship Finder
Avoiding Financial Aid Scams
Financial aid scams are less prevalent now than they were 10 or 15 years ago, but you'll still want to remind students to keep their eyes open as they look for financial aid for college. Refer them to StudentAid.gov/scams for tips.
Talking points:
You can find plenty of sources of financial aid without paying anyone for help or paying an application fee for the aid.
The first F in "FAFSA" stands for "Free."
Don't Get Scammed on Your Way to College
QUOTES:
Overheard when taking Financial Peace University :
"I spoke to this student who was on her senior year in high school. Her mom asked her around Xmas time to apply for 2 scholarships a day, 5 days a week for the next five months until graduation. She ended up graduating with no debt plus $4,000 in the bank." Rachel Cruz instructor
BOOKS:
The Price you pay for college : An Entirely New Road Map for the Biggest Financial Decision Your Family Will Ever Make
CONTINUE SAVING WHILE IN SCHOOL
TIPS
Do not stop your scholarship search once you are enrolled in school even after freshman year in college…. There is more money and less competition from people applying
Continue savings while in school. Keep track of your income and expenses. Learn to budget-manage your spending. Save for emergencies, have at least $500 in an emergency fund. Learn money management: 8 Money Tips For Teens: Your Future Self Will Thank You
Work for a company or an educational institution that offers free tuition. A lot of companies are now paying for college for their employees: Fidelity, Chipotle, Starbucks, Walmart, Amazon, Macys, JPMorgan Chase, Boeing, Discover, Disney, Papa John, Target, Verizon, Taco Bell, T-Mobile, Home Depot, Lowes, Publix, Qualcomm, Waste Management, US Armed Forces and soo many more.
Buy used textbooks, rent textbooks or get an electronic version of textbooks you will use at school. Check Amazon, TextbookRentals, openstax.org and open.umn.edu for a source of openly licensed textbooks available for anyone to download and use for free. Or ask fellow students or if there is a free open source textbooks online available on campus. Sell the books after you are done with them. 9 Best Places To Buy Textbooks
Work part time 10-15 hrs a week. Studies demonstrate that students that work part time <15 hrs a week excel and do better in school.Use skills you already have to mentor or teach others. Get into a work-study program inside the school (like in the financial aid office or tour guide for students) Check for work on campus. This is usually offered as part of a financial aid package after filing your FAFSA. 80+ Ways To Earn Extra Money; 75 Ways To Make Money On The Side
Work College: Unique to work colleges is the requirement that all resident students participate in a comprehensive-work-learning service program for all four years of enrollment. Therefore, all resident students have jobs.
Work full time and go to school part time at night and pay for school only with the money you make working and never get in debt!
Live with your parents until you graduate. Live with roommates or in a cheaper neighborhood.
Rent a house or apartment with many bedrooms and airbnb or rent to classmates. Make sure you can pay for the entire rent in case the other person quits paying.
Take classes online
Work as a regular employee at the school you want to study at or have one of your parents work at the school. Some schools offer free or reduced tuition to its regular employees and their dependents, some of them even if the employee is part time
Finish school in 4 years or less....
Form good genuine relationships with school personnel (specially with someone in the financial aid office or a dean or department head or tenured faculty member) that can help you down the road or can find if there is more they can do for you. They can open up paths to grant money, research money and scholarship money you might not know about.
As a graduate student you can apply for a job as a teaching assistant and you can get free tuition in some schools. Also in the summer you can work as an adjunct professor. You can even teach courses at other state colleges and universities as an adjunct professor.
Do assistant work for a professor that can help you find more sources of money for you
Serve as a resident assistant (RA) during your junior and senior year. You will be in charge of the safety and well being of students and making sure campus rules are followed. The job includes free room and board in an on campus dormitory and a free meal card. Inquire at the residence life office at your school.
If you graduate from college with an amount of debt less than what you earn in the 1st year on the job, you will be fine. That is the ceiling: you can handle that debt and can pay in a reasonable amount of years.
Use public transportation, use a bike instead of a car, share rides with other students. If you own a car, have people pay for the gas when you drive.
Take online classes (like SUNY) and study from home saving on commute costs and housing
Ask about student discounts whenever you are buying something
Find cheaper ways to socialize like watch a movie at home, go to the beach, have an outdoor picnic and other fun ways of being together without spending
See how you might benefit from federal income tax credits for education expenses Tax Benefits for Education - IRS tax forms
Get a bicycle
Learn how to cook
Buy insurance. What happens if you get sick and cannot finish (buy before the semester starts tuition insurance that will reimburse you 75% -100% if you have to quit due to illness-college tuition insurance policy look into the exclusions. Google companies that offer these products. Beware of scams every time you use Google.
Learn how you can save a bundle by letting other qualified classmates provide you with discounted services like dental care, beauty services, auto mechanics, child care and other professional services through classes they are taking. Be the guinea pig!! The professors teaching the class will make sure you are provided with the most professional care.
Try cost sharing: take a class at your local community college over the summer or at night and have it count toward your coursework. Speak to someone in the registrar, admissions office or an academic advisor to see if those credits are transferable.
QUOTE……Seek Professional Services Savings at your school: I work at a technical college where people can get various services much cheaper than in the community. They can:
visit our dental hygiene department and get their teeth cleaned and X-rayed by student hygienists under the supervision of a dentist.
get their cars or motorcycles worked on in our automotive or motorcycle departments.
buy floral arrangements from student florists.
buy baked goods (including loaves of bread) from student bakers.
visit our restaurant run by student chefs.
Licensed or certified professionals supervise all students. If there's a technical college near you, you may be able to get some great deals!
Amy G. from Dollar Stretcher Tips
Looking for experience and employment? The Student Career Experience Program (SCEP) is a paid student program that offers valuable work experience directly related to your field of study. It provides formal periods of work and study while you are attending school. After successfully completing the program and your education, you may be eligible for permanent employment. For more information, visit the Student Employment Programs page.
The Federal Work-Study (FWS) Program funds part-time employment for undergraduate and graduate students with financial need. FWS helps students earn money to help pay post-secondary education costs. The program encourages community service work and work related to the student's course of study. The total award depends on when the student applies, the level of need, and the funding level of the school.
Want to travel, learn, and experience new cultures? The Fulbright U.S. Student Program offers fellowships for graduating college seniors and graduate students. Fulbright allows you to study, conduct research, and/or teach English abroad. During the fellowship you will work, live, and learn from the people of your host country. Facilitating a cultural experience through direct interaction within the classroom, field, and home. This program is managed by the U.S. Department of State. For more information, please visit the Fulbright U.S. Student Program website.
The Federal Pell Grant Program provides grants to low-income students to promote access to postsecondary education. Grants are awarded to students who have not yet received a bachelor's degree or who are enrolled in qualifying post-baccalaureate programs for teacher certification. Unlike student loans, Federal Pell Grants do not need to be paid back. However, students may not receive Federal Pell Grant funds from more than one school at a time and for no more than 12 semesters.
Want to see even more benefits that can help you? Try taking the Benefit Finder to find government assistance you may be eligible to receive. You can also browse resources in our Education and Training category. Here you can filter your search by state or subcategory to see benefits based on your needs.
USAJOBS Pathways Program: The Pathways Program offers federal internship and employment opportunities for current students, recent graduates and those with an advanced degree.
Some colleges require the students to work part time on campus reducing some of the tuition cost (or even getting it free). Find more information at www.workcolleges.org. There is also the Federal Work-Study Program that provides jobs for undergraduate and graduate students based on financial need so students can supplement their college costs. The program encourages jobs related to a student’s course of study or jobs that provide community service. You can get more information and application for this program through the financial aid office of the college or university your child hopes to attend.
College students are targeted with jobs scams, too
9 ways college students can live on the cheap
Learn more ways students can reduce the cost of professional services.
Learn frugal habits before or while in college to gain and maintain financial independence later on
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I Earned $20,000 with Side-Hustles to Pay for College
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OpenStax College is an initiative whose purpose is to create and distribute free and low-cost college textbooks
log on to www.collegesmarts.com which is free textbook swap sites were students can buy, sell or trade
The University Parent Connection is a website offering advice to parents of college students and college-bound students.
20 Employers That Pay for College
How to Get Walmart or Target to Pay for 100% of Your College Degree
Tax tips for students working summer jobs
21 Flexible Ways to Make Money in College
11 Things You Don’t Need for College
3 Frugal Living Tips for College Students
Resources for College Students: On Benefits.gov, students can find information on several programs and check their eligibility.
Open Source Textbooks Save Students $1 Billion
7 Tips University Students Can Take Advantage of to Save Money
7 Best Budgeting App for Grads
The Top 10 Ways to Save Money in College
THE BEST BLOGS FOR COLLEGE STUDENTS [MONEY, LIFESTYLE, AND MORE
7 things everyone should do while they’re in college that can help them in the future
6 Websites to Help You Find the Cheapest Textbooks: The high cost of college tuition is just the beginning. Textbooks can set you back a small fortune. Here are 6 tools to assist you in saving money on textbooks.
The 9 Best Places To Buy Textbooks ChooseFI
Quottly finds college students the best and cheapest courses, not just at their school, but across all schools. While the average student can pick between a couple of thousand courses offered by their school each semester, they search more than one million courses, and only show ones that count for the student’s degree. Many of the courses that they list are cheaper than the options at the student’s home school.
Get a listing of books you need for college before classes begin and visit the campus bookstore and purchase used course books instead of paying full price for new ones. Search the Web for book discounts like www.amazon.com, www.ebay.com, www.ecampus.com and www.campusbooks.com
Students who need an extended rental or just a quick research reference can find flexibility at www.bookrenter.com which has rental periods ranging from one to four months.
Other places to look for bargains are www.wholesalecollegetextbooks.com and www.abebooks.com
How to Get The Most Out of College to Set Yourself Up For Financial Success
What Is Tuition Insurance And How Does It Work?
Companies that offer tuition reimbursement
Earning Money While In College
Money saving tips from college students
College Connect « SABEW: Students who write for the College Connect blog describe their own experiences handling and managing money and credit. Blog topics include family financial crises, working while going to school, financial aid, managing debt and more.
How to Ruin a Good Debt Payoff Story in Seven Easy Steps
Why College Students Take On Loans They Can’t Repay – Len Penzo dot Com
Was my university education a waste?
Will Going to College Make You Happier?
QUOTES:
Earning College Cash: One really good way to earn some extra cash in college is tutoring, either other college students (in your later years) or high school students. It's easy to find students who need help now. Not everyone learns well in an online environment. If you don't want to meet in person, make a video call on your phone or tablet. It's also a good opportunity for teachers who are recently retired or taking the year off. Addison from Dollar Stretcher Tips
Extra College Cash: A friend told me her son made a lot of money in college by being paid to be the designated driver. His friends would buy him concert tickets, etc., or pay him to be the designated driver. He also made money by doing other students' laundry. Apparently, not everybody's mom teaches him/her how to do it. Michelle from Dollar Stretcher Tips
PODCASTS:
ChooseFi Episode 238: How To Test Out of College While You’re Still In High School (tips on Sophia and Modern States particularly stand out)
ChooseFI Episode 386: The $100K Glorified Sleepaway Camp (with tips on ACE courses, CLEP exams, and the most cost efficient bachelor’s degree)