Archive March 2010 in our Blog
Scholarships are a very much sought after form of financial aid. Why? They don't have to be paid back! Scholarships also may take on a significant meaning for a student, it may be they excelled academically, athletically, as a leader, etc. But are scholarships taxable income? Generally, scholarships are tax free. If you have questions, be sure to inquire with a tax professional. A scholarship is generally tax free if the money is not payment for past, present, or future teaching, or used for research. The money is to be used for tuition and it's related fees. Related fees include… Read more here!
Should you work and attend class at the same time? It is no secret that everyone, even hardworking college students, have expenses and bills to be paid. Unless you are planning to cover all of your costs with credit cards (which is by no means a great idea!), you may want to weight your working options. Before you hit the internet, college bulletin boards, or even the mall in search of work, create a monthly budget. Include everything from your cell phone bill, gas money, and spending money. Your budget does not have to be exact, but at least give… Read more here!
If you haven't already completed your FAFSA this year, get on it! Since time is money, make sure your form is perfect! Here are some errors to avoid in order to get your application processed as quickly as possible and ensure you get your maximum financial aid award. Entering the wrong address. Make sure you enter your permanent address. Where ever you live during the school year or possibly over the summer is not considered your permanent address. Sending a copy of your income tax return along with your completed FAFSA application. It is not necessary! If for some reason… Read more here!
With a not-so-great economy and less than perfect job market, paying for college can become quite the task. President Obama is looking to make an investment in the United State's future and economy by making college affordable. No one should be denied a college education simply because they cannot afford it's cost. The Student Aid and Fiscal Responsibility Act should produce more college graduates than ever by 2020 at no cost to tax payers.This bill will make an investment of $36 billion over a ten year period to maximize the amount of Pell Grants awarded to students. Along with investing… Read more here!
If you are a parent looking to help your child pay for school, the Federal Parent PLUS Loan may be for you. When it comes to school loans, this loan is rather forgotten and is not the first thing families think of when looking to fund an education.The Parent PLUS Loan is a loan program that must be taken out only in the name of a parent or legal guardian. It is designed to cover more of college's expenses than a Stafford or Perkins loan does. The amount of a Parent PLUS Loan is determined by taking the Total Cost… Read more here!
Now that you've figured out how to finance college, here's some tips to ensure you get your money's worth! Pay attention to deadlines (Not just financial aid ones!). You'll need to pay attention to all deadlines (midterms, finals, graduation applications, etc.). Set goals and believe in yourself. Find out what you like and are good at and give it your all. Attend class, pay attention, and be on time! You can't learn if you are not there. Know when to ask for help. Everyone wants to see you succeed. Your professors don't want to see you fall behind. Get involved.… Read more here!
So you are just out of school, and given the current economy, you cannot find a job (let alone the job of your dreams) or you are just about finished with school (and aren't quit sure what your next move should be). Why not consider graduate school? There are many reasons to consider graduate school. One of the many reasons people go back to school at any age or stage of their career is to gain more skills. An increase in skills and abilities will increase your marketability. Employers value employees with diverse and interesting academic backgrounds. Numerous studies show… Read more here!