Paying for College – How to make it easier?

Author: Sally Croft

Finding the money for college has long been a main obstacle for many students aspiring to gain a college degree. Students have had to use many innovative ways of sourcing financing by tapping into both governmental and non-governmental organization. Some of these methods include:

Student Loans:Many students have to take the option of applying for student loans to fund a part of their tuition. Though these loans may not meet every need, they go a far way in relieving the burden of college education. Most student loans come in the form of Stafford, Perking and supplementary loans. Each has their own loan criteria that students must meet.

Scholarships: Scholarships are another easy way students can pay for their college education. Millions of dollars in scholarships go unclaimed each year as most are based on academic performance. Scholarships are given for various reasons and depend of the donator’s objective. They range from assisting the poor, exemplary students, research and community development.

Pay as you go: Paying as you go along in your studies is another way of meeting your college tuition needs. This method however increases the time it takes to complete your studies. However, the major positive is upon completing your college degree you are debt free. Students who work and study part time are best suited for this method as the can pay for course material from their earnings.

Employer Tuition reimbursement: Some employers use tuition reimbursement as a source of motivation for their staff to improve their educational stock. Here, working students must pay their tuition upfront, and then upon successful completion of their course, semester or module based on the negotiated agreement, they are then reimbursed by their employer. For each segment, this money can be easily rolled over into the next block of studies.

Online Education: Studying online significantly reduces the overheads associated with tertiary study.The costs of commute, campus maintenance and socializing on campus are eliminated as online students can study from the comfort of their homes. The savings realized from attending online colleges can go a far way in making paying for your college education (http://www.studentloaninfo.org/blog/college-aid/) a lot easier. In addition, degrees earned from online colleges carry the same weight as traditional institutions, so there will be now difference in your degree.

Loyalty Programs: This is a new idea that is being promoted by many retailers. In this concept, the parents of students are asked to establish membership at certain retail stores where they shop using their credit card. Now, for every payment, they make using their credit card, a percentage of the total purchase is sent to an account that you can debit to assist in paying for your college education.

Work for the college: Most colleges have student assistance programs where they allow students to work in simple jobs to help pay for their college education. Some of the more popular positions include maintenance, cafeteria, library or as technicians for lower grades. This option also adds a significant boost to your resume upon graduation.

Tags: College Aid, college degree, Online Degree, scholarships, student loan
Posted in College Financial Aid, Online Degree, Scholarship | 1 Comment »

Mar

Low Interest Student Loan – Who are the takers?

Author: Sally Croft

Most students will need a student loan to finance their college education. These students come from a wide cross section of the society and have various reasons on which they qualify for a student loan. There are several types of student loans that are specially designed to meet the needs of these students.

Students with dire Financial Needs

Students facing financial crisis are usually accommodated under the Government guaranteed Federal Stafford Loan Scheme. To qualify for a Stafford loan, students must prove their need by providing the lender and school with proof of their economic condition. Students must meet all immigration requirements, be actively enrolled in an institution and have not defaulted on any previous federal funded student loans.

Under the Federal Stafford Loan Scheme, students due to their condition of financial need are offered several repayment options . These options are negotiated between the applicant and the lender in such a way that benefits both parties. In addition, these needy students are not required make any repayments while they are enrolled in school or during their six month grace period after graduation.

Students facing Financial Problems while in College

Another category of takers of student loans is those that are facing financial problems while enrolled in college. To easy their financial woes, these needy enrolled college students can apply for a Federal Perkins Loan. Unlike Stafford loans that are guaranteed by the government, Perkins Student Loans are backed by the university. They are granted on a first come first serve only to their enrolled student under strict financial crisis guidelines. As a result, students must prove their need to the university. Perkins student loans enjoy a 5% interest and funds are payable directly by the university. Perkins loans have the same repayment regime as Stafford loans to make the repayment as easy as possible on graduates.

Students needing Supplementary Financing

For students who need only supplementary financing, they have the option of applying for a Federal Parent Plus loan. Federal Plus student loans have no caps so they can be used to cover the entire cost of a student’s college education. However, there are some differences from other federal student loans. Federal Plus loans are only given to parents of a dependent child and not to those children who are living on their own. Credit checks are required and repayment begins sixty days after the last disbursement. Plus loans attract an interest rate of 8.5% and another 3% fee for processing.

Single Moms

In an effort to encourage single moms to complete their college education, the government has extended federally funded student loans to help in brightening their future. Single moms are offered the same types of student loans such as the Stafford, Perkins and Plus Graduate loans. Both Federal Stafford and Perkins loans offer single mothers up to $5500 per academic year while they must file a FAFSA to determine their annual loan limits under the plus graduate loan scheme.

Tags: Low Interest Student Loan, Student Loans
Posted in College Financial Aid, Student Loan | 2 Comments »

Feb

Learning to Write Detailed Grant Proposal

Author: Sally Croft

For many people, writing a grant proposal is a difficult process. You may have the feeling that those who receive grants are either super smart or have some inside connections. But grant writing does not have to be difficult, anyone can do it. “Where there is a will – there is a way!”

Putting it all together!

A successful proposal involves the coordination of several key points including research and data collecting, planning, writing and putting together a detailed grant proposal package, submitting the proposal to a funder and follow-up. So before you begin to write your grant proposal here are a few tips to get you started.

Preparation – Gather necessary details and make clear the purpose of your project by writing a clear and concise mission statement.
Criteria – Many grants have specific criteria, which are normally stated in the ‘request for proposal’ (RFP). Make sure that you design your proposal to match the criteria set out by the funding agency. The request for proposal usually gives detailed instructions about what you need to submit, so it is very important that you submit everything that is required. You do not want your proposal to be in the stack of “incomplete proposal” or “do not consider pile”, that’s not a good place to be after all your hard work.
A good match – When applying for grant money you are basically asking the funding agency for money. These agencies provide grants that will serve their interest and are important to them, so your grant proposal should address those issues that are important to the agency identifying how you will contribute, solving a problem or improving a situation.
Define you goal – Determine what your goals are and make sure your goals are consistent with the goals of the funding agency, but don’t sacrifice your goals and objectives just to fit the goals of the agency. If you are not a good fit for the grant, look elsewhere for a better fit.
Feedback – Show your proposal to family and friends, get their feedback and suggestions but only choose the ones that you think are a benefit to your proposal. Getting the assistance of an editor who has the expertise in proposal writing may also be a good idea.
Putting it all together – As with any type of writing, your first draft will not be the finished product and ready to submit. You may have to rewrite your proposal several times before you have a top quality proposal that will get you selected for funding.
Extras – There are some things you can do to make your proposal easier for the reviewer to read such as, making good use of the heading and sub-headings, use a consistent format, make your message easily understood, obtain up-to-date information and use facts and figures (identifying their sources).
Timely submission – In most cases, due dates for grant proposal are final. Even if you have a top-notch grant proposal, if it is late, there is a good change that it will be rejected. Make sure you plan ahead and submit your proposal on time.

What Reviewers Look for in your Grant Proposal?

Reviewers look for a well written proposal that is free from spelling and typographical errors, easy to read and understand text, logical and consistent message, convincing message that is believable, the best fit that matches their criteria and a solid goal and objective.

Applying for a grant can seem difficult a task at first, but if you are willing to put in the time and work, you can write a winning grant proposal that will get you selected for funding. You can do it!

Tags: College Money, grants, Proposal Writing
Posted in College Financial Aid | No Comments »