Who will be required to complete entrance counseling? Any undergraduate student who has never taken out a federal student loan that is receiving a Direct Loan.

Why? Student loans come with big responsibilities. It will work to your advantage as well as your lender’s if you know what is going on!

What does entrance counseling involve? Counseling will advise you on your rights and responsibilities as a borrower.

Where do you complete loan counseling? Generally, on the Federal Aid Website. Contact your school’s financial aid office to ensure you meet your school’s requirements for student loan entrance counseling.

Remember, it is important to stay informed, make wise decisions, and understand every decision you make when it comes to financial aid.

With a nationwide shortage of commercial truck drivers, anyone considering a CDL may want to act. Companies including UPS, Yellow Freight System, Roadway Express and Consolidated Freightways are just a few of the companies nationwide looking for qualified, dedicated drivers.

The perks of being a commercial truck driver? Competitive salaries, health benefits, bonuses, a stable career, and a variety of hours.

One of the places to train for a career in truck driving is community colleges. While not all community colleges offer courses, check out your local community college for course offerings. Also, there may be strictly truck driving schools in your area or companies that offer training.

Best way to go? Truck driver training through a trucking company. Many will offer free training provided you give them a set amount of time in employment afterwards. Free training and a job immediately after training, cannot beat that! For example, Swift.

Any trucking school that does require you to pay will generally offer some sort of financial aid program or payment plan. Again, this varies from place to place.

For community college, check out your local community college’s financial aid programs for details.

Another route to take would be a private loan.

While it is impossible to give you the exact terms of satisfactory academic progress at every school across the nation, normally you must maintain a 2.0.

If you GPA does fall below a 2.0, in most cases you are given one semester to redeem yourself. This is called academic probation. If you are unable to do so, you will be dismissed from the school and your financial aid may be suspended.

If you are dismissed from a school, you will need to apply later (generally speaking this means a semester off of school) or apply at another institution. What does this mean in terms of financial aid? For federal aid, you remain eligible for the aid while on probation. If you fail to raise your GPA you may be in some trouble.

Remember, rules vary from school to school. So keep your grades up and hopefully you will never had to find out!

Before jumping into graduate school, make sure you know what you want to study. Grad school is not like undergrad; you cannot go undecided for two years and then choose a major. Research schools and make your decision wisely. If you are undecided between programs, talk to students in those programs or people working in that field. Do your research, otherwise it may cost you a lot of money for a degree you are less than satisfied with.

Do you have work or internship experience in the field you are pursuing? Like applying for a job, experience matters in a sense. This is especially important for highly selective programs.

Decide your long term goals before applying to graduate school. When writing an essay or meeting with the admissions staff, everyone is going to be interested in your long term goals. How is this degree going to benefit you, your employer or potential employers, and what exactly do you plan on doing with it? If you can firmly answer these questions you are ready for graduate school.  Also consider your personal life, is graduate school going to be put on hold for a wedding, a child, purchasing a home, etc? There are many small factors to consider when deciding to go to graduate school.

Also, you need to consider the money. Student loans are going to be a given. Unlike undergrad, there are no grants for graduate students. You need to get your finances in order and possibly even save up for graduate school.

It’s your future, plan carefully and the sky is the limit!

For some summer sessions may seem like a terrible idea: missed vacations, long hours sitting in classrooms while the sun shines around you, difficulty working class around a summer job, or simply not being able to lounge by the pool all day. For anyone who doesn’t want to spend their summer in a classroom but wants to get ahead, consider online summer classes.

Why should you consider online summer classes?

• You can get ahead academically. With the convenience of internet classrooms, you can get ahead in your studies without sacrificing what you enjoy most in the summer.
• Cost. Taking online courses through a community college will get you ahead in school while keeping money in your bank account. The cost per credit at a community college is considerably lower than that of a four year university.

Things to consider before taking online classes:

• Will the credits tranfer to your University?
• Are the credits comparable if not less in price than your University’s cost per credit?
• Are you willing to make the commitment? Online learning does require commitment. Remember, you have no set time to be in class.

• Can’t find your dream job? Don’t expect to find your dream job straight out of college. Your dream job could take years of experience and possibly even more education to find. Focus on finding a job in a related field or just a job for some income and benefits.
• Any job is better than no job. Try not to limit yourself to the field you think you want to work in, you may find a job outside that field and end up loving it.



• Can’t find work at all? Try searching for an internship (hopefully a paid internship). Employers are always looking for that ever important experience to go along with the degree, so take this opportunity to get yourself some experience. It may open up the potential for a better job.
• Considering graduate school? Now may be the time to look into it. You will make yourself more marketable to employers. If you can’t afford to attend school full time, look at part time or online programs from accredited universities. If you are disciplined enough, you may be able to earn your graduate degree while maintaining employment.
• Get your finances in check! Consolidate loans, get your credit cards organized, and take advantage of your grace period. Your loan grace period may be a great time to save up some money for when the bills start rolling in. If you are having trouble finding a job, Income Based Repayment may be an option to look into, especially for those on a vary limited income and not employed.
• Don’t get discouraged. Not every job you apply for is going to call you back. Not every job you interview for is going to offer you a position. Hold your head up high and keep looking.

According to the US Master Tax Guide, scholarships and fellowship grants are not considered income. Any amount of money which is received as a qualified scholarship is excluded from an individual’s gross income. Provided this individual is a candidate for a degree at a qualified educational organization. The organization must main a regular faculty, curriculum, enrollment, and activities.

What is a qualified scholarship? Any amount of money received by an individual as a scholarship or fellowship grant. This money must be used for tuition and it’s related expenses. These related expenses include fees, books, supplies, and equipment which is required by a course.

However, there are exclusions for qualified scholarships and tuition reductions. Payment for teaching, research, and other services performed by a student are not considered qualified scholarships.

Your best bet? If you aren’t sure ask!

1. Don’t save money in the student’s name. Student assets can be assessed at up to 20% under Federal financial aid formulas.
2. Do not set up a visit with a school’s financial aid office without proper documentation to back up any financial claims you plan on making.
3. Don’t inflate your income. Avoid using any potential bonuses and retirement distributions when filing for financial aid.
4. Avoid paying for college using unsecured debt (like personal loans). These loans are subtracted from your assets under financial aid formulas.
5. Do not dig into retirement funds in order to fund a college education. This will raise your income and even reduce your financial aid eligibility.

Moral of the story: 1. stay in school and obtain as great of an education as you can afford. 2. don’t hold out for your dream job. Any job is better than no job. That is until you find your dream job!

• Merck offers scholarships to high school seniors who are determined, disciplined, and successfully managing their asthma. Take good care of your health, pursue a higher education, and get free money for it!
• The Great Lakes Hemophilia Foundation offers a variety of scholarships for students who are faced with the challenges of a bleeding disorder.
• Love agriculture? Live in Illinois? High school seniors who are heading down the road to a career in agriculture can apply for $2,o00 state scholarships.
• The Pfizer Epilepsy Scholarship can provide $2,000 to excellent students who have overcome the challenges that come along with epilepsy. In addition, students need to have proven success in and outside of the classroom.
• Enjoy golf and want to make a career out of it? The Walter J. Travis Golf scholarships is awarded to a student who is pursuing a career in golf course turf management, professional golf, golf management, or gold architecture.

1. Begin a scholarship hunt. Scholarships are free money. Remember you can find scholarships that are awarded for athletics, academics, volunteering, background, etc..

2. Appeal your financial aid award. Contact the school and see if they can provide you with a more favorable financial aid package. This idea may seem far fetched to some, however if you are an excellent student and have a variety of offers on the table for various other schools…your number one school may be willing to work with you. They don’t want to lose the best and the brightest.

3. Research and apply for private loans. These loans are credit based–therefore nearly all undergraduate students will require a co-signer. A private loan will allow you to borrow up to the entire cost of your education–meaning as long as you repay no school is out of the question. Remember, private loans will have higher interest rates than federal school loans do.

Remember to keep your options open and keep looking. While the financial aid process is not easy, if you want something bad enough you can find a way to make it work. Your best bet is to do your research and discover your options!

Congratulations, Class of 2010!

Here are a few quick things to remember:

• If you have Federal Stafford Loans (subsidized or unsubsidized), you are required to complete a counseling session that will provide you with information on how to manage your student loans after college.
• In 6 months (provided you were a full time student), repayment begins.
• If you have any outstanding debts to your school, pay up! This may result in a delay in receiving your diploma. As well as difficulty in requesting transcripts.

Information your award letter will contain: a full explanation of the cost of attendance (all fees included) and the financial aid you can expect to be receiving in the form of federal aid, state aid, and scholarships.

What does COA mean?
Cost of Attendance. This the projected total cost of your college attendance. This includes tuition, fees, room and board, books, and transportation.

Words to look for: If you see the words grant or scholarship. Be happy, you have received free money! You will never need to repay these funds. This money was awarded to you based on income or academic standing.

A work-study program is listed. Now what? This is free money, but you have to earn it. You will need to participate in part-time work to obtain this money. This job is usually on campus, they are flexible with your class schedule, and may even have something to do with your intended field of study.

Subsidized vs. Unsubsidized?
With a subsidized loan, you will not need to pay interest on the loan until you begin the repayment process. Generally speaking, this is six months after you graduate. A subsidized loan is need based. An unsubsidized loan is not need based and you will be charged interest as soon as your loan is disbursed.

What is a PLUS loan? These loans are credit based loans that your parents will take out. Repayment will begin right away and interest begins to accrue after two months.

BOOKS. GOT YA! You are still gonna need to buy your textbooks. However, you don’t need to be buying new books. There are many other ways to get books cheap: used at the book store, check out websites such as amazon.com or half.com, and check your school’s library your professor may have a copy on reserve.

SERVICES OFFERING TO DO YOUR WORK FOR YOU. On every syllabus you receive, there will be a section on a code of conduct or ethics for class. This includes no cheating. Paying someone to write a paper for you is bad in a number of ways: it’s cheating and you are not learning what you should be. If you need help, many colleges have centers that will help you, without doing your work, and it’s included in the cost of your tuition.

JUNK FOOD/ALCOHOL. It’s tempting, but you don’t need to be spending the money or gaining the Freshman 15. It’s okay from time to time, but if you have a meal plan use it! If you love coffee, make your own. College students spend a lot of money each year on alcohol. Don’t drink and must if you must–go for the cheap stuff, drink were the specials are, only bring so much money with you, leave your credit cards at home.

ENTERTAINMENT. Be creative and keep it cheap. Use your computer instead of paying for cable to watch your favorite shows. Services such as NetFlix will allow you to view as many dvds as you can a month. If you have dvds and cds you don’t want–sell them. Attend events on your campus-most are free or low cost. Check out places that offer student discounts.

TRANSPORTATION. If you are living off campus, find an apartment close to campus (walking distance). Use public transportation, depending on where you go to school it may be free with a college ID.

WORK OUT. Use your school’s facilities, run around campus, enroll in on campus exercise classes–instead of joining a gym.

COST. You need to consider your annual cost of attendance. This will include such things as tuition, fees, room and board, books, travel, and other school necessities. However, you should not rule out a school just because it may be a little out of your initial price range. You need to take into consideration if you are eligible for grants, any scholarships, work study, and low interest student loans.

LOCATION. How far away are you ready to move? Some students have no problem moving across the country, others before a reasonable distance to get the college experience but still have fairly easy access to home, and others simply prefer to stay at home. The further you go, remember this is going to increase your costs (travel and more than likely out of state tuition rates).You also need to consider whether you want to attend school in a big city, a small town, a big college town, etc. Don’t take this decision lightly.

DORM LIFE OR COMMUTER LIFE. There are many options to consider for student housing. Are you going to live in a dorm room, off campus apartment, or at home (provided you are attending school nearby)? Again, you need to weigh the costs. But this time you also need to consider how independent you want (or are ready) to be.

SIZE. Small, individualized classrooms or large lecture halls? Big city, small town, or a predominantly college town? There are many options to consider. If you are not sure, try visiting different types of campuses or talk to older friends or siblings about their experiences.

ACADEMIC PROGRAM. What type of academic program are you looking for? Make sure a school you are considering offers your major or possible majors you are considering. If know exactly what you want to do, check out a potential school’s reputation in that field.

FLEXIBILITY. This is especially important for those of you who are going to be working full time while attending college. Does your school offer part-time, online, or evening courses? If you want to get ahead, do they offer summer sessions?

SPORTS AND ACTIVITIES. Depending upon importance to you, of course! Check out school’s athletic programs, intramurals, and other extracurricular activities. Are you looking for Greek life, honor societies, a school with a golf team, excellent swimming program, etc? The possibilities are endless.  Remember, it is okay to have some fun and get involved in activities you enjoy!

Today, almost every job requires a four year college degree. A master’s degree will allow you to expand your skills and knowledge. The added bonus? It will stand out on a resume and maybe even give you the edge you need to get the job you really want.

Before you add to the massive stack of student loans you already have, stop and think about ways that may just cut the cost of the money you will be borrowing for graduate school down.

Are you employed? Many employers offer tuition assistance and tuition reimbursement programs for their employees. Especially if you are further your education to get ahead with your current company, your employer may even cover the entire cost of your education (normally minus miscellaneous fees and books). However, you can’t argue with an entire degree that may only cost you books and a few random fees.

Go scholarship hunting again. Just like in your undergraduate days, scholarships are very appealing forms of financial aid. Why? Because you do not have to pay them back!

Explore your loan options. The federal government should be able to provide you with low interest loans to help aid in your dreams of obtaining a graduate degree. Explore: Stafford loans, Graduate PLUS loans, and possibly even Private Loans.

If you miss one student loan payment, this does not necessarily mean the loan will default. This depends on the type of loan you have.

If you have a government loan, the government will allow you to miss up to nine months of payments before the loan will default. Your loan will be classified as delinquent if you miss one payment, but you will not default. A student with a government loan receives nine months to repay missed payments. As a student, you will have 270 days to find a solution.

If you have a private loan and miss payments, remember that private lenders are no where near as tolerant and generous as the government. Miss one payment and your loan will default. Private lenders grant forbearance dependent upon the loan institution. Expect to be slapped with fees and additional charges that could double the cost of a loan or worse. Missing a private loan payment may result in decades of repayment.

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. As long as the money is used for tuition and it’s related fees. Related fees include college fees, textbooks, supplies, and equipment. If the student is a candidate for degree the money is normally tax free.

It is possible for part of a scholarship to be taxable. If money is used for room and board, travel, and other non tuition or course related fees. Also, it is possible for scholarships to be taxable if they are used for occupational training or continuing education programs.

Your best best? If you don’t know….ask!

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 yourself an idea of what you would like to be making.

Budgeting your money isn’t the only thing you have to worry about! You will need to budget your time as well. Time management is going to be essential in keeping your grades up (and maintaining academic scholarships if you have one!).

When looking for a job, flexible hours may be one of the most important things to consider. Remember you may need extra time to study during midterms or finals or perhaps you live a distance and are planning on traveling home a lot especially around holidays.

Remember when filing out your FAFSA to say you are interested in work study. A majority of work study jobs are on campus, have flexible hours, and the money you make from the federal government will never need to be paid back.

Ideally, finding a job on campus that relates to your field of study would be great. These jobs offer money, flexibility, convenience, and experience.

However, not everyone is going to be able to find an on campus job. If you decide to venture off campus in search of a job, act quickly. Especially if you go to school in a small town, jobs may be limited. When applying and interviewing, make sure you find out about flexibility, holidays, typical hours, and pay. In college towns, a lot of employers should be understanding of a student’s situation.

Another off campus job to consider: try finding a paid internship. While they may be scarce, paid internships offer experience and money. One thing to consider if your class schedule, make sure you are available during business hours. Internships will generally put you in the 9-5 range!