Recently, at least nine college institutions have received gifts totaling over $45 million from a mystery donor. What’s unusual is no one, not even the universities, knows where the money came from.

Typically when an educational institution receives an anonymous donation – they are allowed to know the identity of the donor.  In the recent donation sweep, however – lawyers and middlemen have cornered academic institutions into signed agreements not only disallowing them to know the identity of the donor, but promising not to try and find out.

Some of the schools that received the donations are the University of Iowa colleges receiving 7 million, the University of Southern Mississippi college receiving 6 million, and Purdue’s Indiana college receiving 8 million. It’s not clear whether the gifts come from an individual, organization or group of people with similar interests.

All donations were given on March 1st. Each came with the stipulation that most of the money must go to student scholarships.
Donations have dwindled at several colleges, and many schools have been trying to make ends meet during this economic downturn. These gifts show that someone recognizes the importance of higher education and truly wants to make a difference in the lives of students.  Historically speaking, and only exempting some of the Ivy League institutions – a larger endowment is a typical prelude to enrollment increase.

I would certainly be on the lookout at these specific universities enrollment metrics over the next academic year – as opportunity might arise for those looking to attend one of their programs.

Currently, federal subsidies, known as the Federal Family Education Loan program, are provided to private loan companies. President Obama wants to eliminate these subsidies proposing that all loans given to students will be under the control of the federal government. The administration argues that the revamp would save $94 billion. That savings could be redirected to needy borrowers and give more potential students the opportunity to go to college.

There is opposition to the proposal by some. Lenders are worried about the business they could lose. “The Obama plan would mean that many lenders would lose 100 percent of their business,” said Mark Kantrowitz, an industry analyst and publisher of FinAid.org. “It would be a dramatic shift for the way this industry works.”

Others worry about the inefficiency of the education department. “I don’t see the wisdom in creating a new half-trillion national bank for student loans,” he said. “I know how the bureaucracy at the education department works, and you probably are going to get long lines of dissatisfied customers. Those lines could be very long because there are 12 million students.”

Supporters believe the proposal is the most cost effective, dependable way to provide students with the necessary funding for college. They think that the current system needs to be fixed to provide every student with the opportunity to go to colleges.

Source:
Washington Post

Career College Central
http://www.careercollegecentral.com/news/loan_industry_pushes_back – anchor text contigent on kw research

President Barack Obama’s budget calls for increased federal aid to students.  Not only would students who already qualify for federal aid potentially receive more funds, but more students would also become eligible!  An estimated $5 billion dollars will be shifted from bank subsidizes to students in 2010-2011 alone, according to The Congressional Budget Office.

And, best of all, these changes don’t just apply to fresh high school graduates – adults without a bachelor’s degree are also eligible.  This is about making college more affordable to everyone – and making America a stronger country.

This is great news for students who have been considering going back to school, but haven’t been sure where to find the money.

Get the education you’re looking for – and let the government help you find the money you need.  You can learn more about the budget changes could affect your state at Campaign for America’s Future.  http://www.ourfuture.org/report/2009031325/obama-s-budget-supporting-students-not-banks

They say that volunteering can be a great way to gain experience that employers will appreciate. But best of all, many volunteer opportunities can give you the chance to make a difference in someone else’s life.

Today, I was reading about an organization called City Year. It’s affiliated with AmeriCorps (the domestic version of the Peace Corps), and it gives young people between the ages of 17 and 24 the chance to spend one year volunteering with kids from urban areas all across the country.

Though helping others is a great incentive, City Year can also help its members prepare for life after their year of service has ended. They offer education awards and scholarships, in addition to a monthly stipend to cover living expenses. Plus, you could experience life in a new place, while meeting new people.

A friend of mine who lives in New York City told me about how she sees City Year volunteers all over the place. She said she always recognizes them by their trademark red uniforms and their cheerful attitudes. Apparently, these folks really love what they’re doing!

The benefits of volunteering seem almost endless. And it might even open career or education doors in ways you weren’t expecting.

With the forefront of technology, blogging has become trend that everyone has jumped on. No longer the case that you need an English or Journalism degree to write and have it published with the Wide World Web, getting your thoughts out there is easy.

CollegeScholarships.org is about rewarding those who share their thoughts, opinions and perspectives. Every year since 2006, Collegescholarships.org has held a blogging contest for people to win money for college.

The criteria isn’t too difficult, you just have to be enrolled in post-secondary education, have a blog that you are passionate about (no spam), be a United States citizen or permanent resident, and have your name and blog published on the website if you win. The scholarship awards a first prize of $10,000, and 2 runner-ups with $1,000 each. 

So, what are you waiting for? Explore your hidden talents of writing and put them to the test for a chance to win money for college. The deadline hasn’t passed if you already have a blog up and running. The submission date is October 15-30.  

You’ll probably want to start looking at the programs that DON’T require repayment when you’re researching financial aid. This blog will talk a bit about the Federal Student Aid Programs that don’t come along with a payment plan

Federal Pell Grant
This is a monetary grant given to qualified undergraduate students. Eligibility based on financial need and you can qualify for more than $4,000.

Federal Supplemental Educational Opportunity Grant (FSEOG)
This is a monetary grant awarded to undergraduate students. Eligibility based on financial need and priority is given to applicants who qualify for Federal Pell Grants.

You can receive up to $4,000 a year or more – if you’re enrolled in a study abroad program

Federal Work-Study (FWS)
This program allows students to work part-time to earn money for college expenses. The school coordinates the job. You’ll earn at least minimum wage as an employee.

I’d also suggest that you research as many scholarships as possible. Even if you weren’t a straight-A student in high school with tons of community service – there’s tons of cash for people from every walk of life – you just have to be willing to do the leg work.

Free money for college is good, but most of us have to take out some loans. Because the Federal loans can be a bit trickier, and because you have to repay them, I’ll provide a bit more in-depth info on them in future blog posts. So, check back soon!

This kind of fear and self-doubt can prohibit many people from going to a college which can vastly improve their lives.  A new website, www.college.gov identifies these common concerns and shows ways to overcome them. There are testimonials from students across the country that have triumphed over challenges such as peer pressure, lack of family support, and financial barriers. Against the odds, these students made college a reality.

More features of the website:

• Create your own roadmap.  No matter what year you are in high school, www.college.gov can create a personalized road map that will layout detailed steps necessary for getting to college.  You can keep the roadmap on your computer, or print it out and put it on your wall or in you locker.  Either way, this roadmap can put you on the path towards college!
• Find the school for you.  Universities, community colleges, or vocational schools, whatever you are looking for, this website can help you find a school to fit your lifestyle.
• Why go? What to do? How to pay?  www.college.gov  helps you realize reasons for going to school such as, increasing your income, finding your passion, proving your potential, growing with help and support, and lifting your family.  It also shows you the step for getting into college and payment options.
• Information for everyone. The website is geared towards high school students but also gives information to parents, families, teachers and counselors.

What sets this website apart from other education sites is that it was made by students for students.  The creators of this website have pinpointed real concerns that high school students have about going to college.  Through their college roadmap, they give us the tools to overcome those obstacles. 

Anyone can make their dream of attending college a reality.  www.college.gov is one tool that can help.

And it’s no surprise that the first two things on their list is education!  That by choosing an accredited school with a solid program – either at a local campus or online – you can increase opportunities.

Remember, even though programs can seem expensive at first, many schools offer plans to help make it more affordable. Financial aid may even be available for those who qualify.

So if you’re stuck in a dead-end job and trying to find your way out, you know what to do.  Look for the education.

Source:  http://money.cnn.com/2008/07/24/pf/saving/toptips/?postversion=2008072416

The financial aid office staff speaks a different language than most of us. You must learn that language to enjoy an effective and successful college aid search. Once you know the financial aid language, you can begin your search to fund your college education!

Important financial aid terms:
Expected Family Contribution (EFC) – This term refers to the amount of money your family has available to contribute to your college education. Schools base their aid awards on this number.

Free Application for Federal Student Aid (FAFSA) – This application determines your eligibility for all federally funded financial aid programs and institutional aid for some schools.

Merit-Based Aid – Not all aid is created equal. Merit-based aid is the competitive financial aid that evaluates your abilities in academics, athletics, artistic abilities or some other talent or skill. Anyone can receive these aid awards regardless of need.

Need-Based Aid – All need-based aid is determined by your family’s resources.

Federal Pell Grant – The Pell Grant is the largest grant program and is designed to help the neediest students gain access to higher education. The maximum award of a Federal Pell Grant is $2,500.

Work-study – Most students find it necessary to work at least part-time while they are in school. Work-study is a need-based program that provides work opportunities for qualified students. The Federal Government covers a portion of the wages for this program.

State and Federal Aid
To apply for state and federal aid, the Free Application for Federal Student Aid (FAFSA) must be filled out. By completing this form, you are eligible for need-based grants, scholarships, work-study programs and loans from the state and federal government. To apply online or find more information, go to www.fafsa.ed.gov.

Private Scholarships
There are millions of dollars out there in a variety of scholarships. Private scholarships typically take some time to find and to apply for. A financial aid expert at Nelnet Enrollment Solutions, Craig Cornell, said, “Scholarships may be ‘free’ money, but you’ll find that the ‘price’ of finding ‘free’ money is the effort and perseverance you will need to uncover all of the opportunities out there.”

Cornell recommends looking at a variety of organizations. Check with your counselor for local scholarship information and then continue your search of community clubs, ethnic organizations, religious groups, education associations, veterans’ organizations and even local colleges.

The following web sites are great resources to find more information about scholarships and financial aid information. Use them, your high school counselor and financial aid professionals at your prospective schools as resources in your search for money to pay for college.

Nelnet
www.nelnet.com
Search a database of more than $8 million in scholarships, allowing you to narrow your search based on who you are, where you live and what you are interested in.

The Sallie Mae Fund
www.thesalliemaefund.org
Last year the Sallie Mae Fund gave out $2.5 million in college scholarships to low-income and minority students.

Hispanic College Fund
www.hispanicfund.org
Information about several scholarships for Hispanic students can be found here. Make sure to look under the resource section to find links to scholarships with a variety of qualifications and interests.

Ronald McDonald National Scholarship Program
www.mcdonalds.com/rmhc/index.html
The Ronald McDonald House Charity offers four scholarships to high school seniors through their chapters nationwide. You can find all the information about scholarships and how to reach the local chapters that offer them on the site.

Other informative sites and scholarships to look at:
The United Negro College Fund
www.uncf.org

The Congressional Black Caucus Foundation
www.cbcfinc.org

The Congressional Hispanic Caucus Institute
www.chci.org

Hispanic Scholarship Fund
www.hsf.net

Coca-Cola Scholars
www.coca-colascholars.org

The Gates Millennium Scholars
www.gmsp.org