Posts Tagged ‘financial aid policies’

5 Reasons Applying for the Pell Grant is a Smart Move

Monday, April 25th, 2011

Applying for the Pell Grant is a great way to ease the financial burden that going back to school as an adult can cause. In fact, it’s one of the best federal student aid programs available to adult learners. My College Guide gives you five reasons why!

Trying to figure out how to pay for college? Applying for the Pell Grant is a great first step!

Apply for the Pell Grant

Applying for The Pell Grant

Pell Grants are open to almost anybody. The only requirements? You have to have either a GED or a high school diploma, and be working on your first bachelor’s degree. That’s it. There are a few instances where they can be used for post-baccalaureate teaching programs, but those are few and far between.

Applying for the Pell Grant is easy. In fact, you’ll automatically be considered when you fill out your Free Application For Federal Student Aid (FAFSA) form. Pell Grants eligibility is based solely on economic need, so there are no essays to complete or hoops to jump through. And as a working adult? The easier it is to get something done, the better.

Convenient and Quick

Applying for the Pell Grant gives you flexibility. No matter whether you plan to attend school part-time or full-time, online or on campus, a Pell Grant could work for you. They’re accepted at most online colleges as well as their traditional counterparts, for both part and full-time students. In fact, as a part-time student, you can qualify for up to 18 semesters—so you can get your degree at your own pace.

Free Money for College

The amount of your Pell Grant is not set in stone. Pell Grants are calculated based on four factors—the amount of tuition, your family’s financial status, the size of your family and your enrollment status. So if your situation changes, the amount of your grant can too. Having a baby? Your award could increase. Transferring to a pricier college? You could get more help. Thinking about taking the plunge and going full-time? You guessed it—you could get a bigger grant!

Pell Grants range in size from $550 to $5500, with the average student receiving somewhere around $3500. And since they’re recalculated every school year, they can keep pace with the changes in your life. For adults going back to school, that’s really good news.

Best of all, you don’t have to pay Pell Grants back. Unlike student loans, money from federal Pell Grants is yours, free and clear. Meaning you can concentrate on your schooling—not on how you’ll make good on the loan.

It’s easy to see that for adult learners, applying for the Pell Grant just makes sense. But you better get cracking—the application deadline for the 2011-2012 school year is June 30th.

Image Courtesy of Flickr, espensorvik.

Who We Are: Information you can trust. For more than 20 years, My College Guide has provided information to help students find the best college degree and career for them. Get information on any applying for the Pell Grant to find the right career for you!

Subscribe to our blog via RSS or email and stay on top of everything college!

Benefits of Online Education

Friday, April 15th, 2011

The benefits of online education are many! Making time for on-campus courses for adults working full-time is next to impossible—but online? It’s infinitely easier: Here’s why!

The benefits of online education are many--you won't even believe it!

kennymatic / Kenny Louie

Benefits of Online College

Your Life, Your Way – It’s not very often that you get to call the shots but one of the big benefits of online education is that you don’t have a specific place to be. You’ll have a specific course  schedule for when assignments are due. So, you can complete assignments in your business administration class at 2 AM or 2 PM—it doesn’t matter.  On-campus courses just can’t compare!

Yes: There’s Still Community – Online college courses have come a long way. You won’t feel isolated from your peers at all. In fact, many colleges have special discussion areas so you can get to know and chat with your new online classmates. Some even have forums and allow online students to join on-campus activities and attend campus events. Now, is that one of the greatest benefits of online college, or what?

What You Don’t Know Can Hurt You (Financially)

Let’s Talk Turkey – Higher education isn’t cheap but you know that if you want to advance in your career or get your foot in the door in a brand new career, it’s a necessary addition to your resume. Rather unknown benefits of online college include the cost of classes—in many cases, it’s cheaper! In state or out, some higher education institutions charge the same amount and the cost of online courses can be a significant savings. That’s money in the bank!

Free Money for College: Even for Online Students – Did you know that even adults going back to school can still apply for and receive free money for college? Fill out the FAFSA, the Free Application for Federal Student Aid, and see if you qualify for financial aid. Your college will use this information to match you up to their own institution-based scholarships. Every non-traditional student should be sure to take advantage of awesome benefits of online college like this one.

What are You Waiting For?

There are plenty of reasons to consider beginning or finishing your college degree. The benefits of online education are many—why not see for yourself? You have nothing to lose and everything to gain. Your future is waiting!

Who We Are: Information you can trust. For more than 20 years, My College Guide has provided information to help students find the best college degree and career for them. Get information for the benefits of online education and programs to find the right career for you!

Subscribe to our blog via RSS or email and stay on top of everything college!

Colleges for Low Income Students: Free Tuition, No Loans, and Full Rides

Friday, April 16th, 2010

College, and the costs that go with it, can make higher education seem way out of reach – especially for low income students.  The good news?  There’s something better than hope – there’s loan-free financial aid packages and even tuition free colleges!  Who knew college could be so affordable?

Duncan Hall at Rice University -- Loan free tuition for low income students!

photine/Laurie

For high achieving low income students, many colleges and universities offer a no-packaged loans policy – which include grants, scholarships, and work-study programs in their financial aid packages not interest accruing loans!  Many offer free rides to college (and then some).   A few of these colleges, like the Webb Institute and Deep Springs College, don’t even have tuition!  You really can graduate debt free!

Check out our large list for a host of higher education institutions that offer free tuition or loan free tuition for students of low income families.  Click on the college or university name to be taken directly to the financial aid page that relates to that school – and get in touch with the financial aid office to see where you fit in.  College isn’t just for the wealthy – it’s for everyone.

Alice Lloyd College Rice University
Amherst College Sacred Heart University
Barclay College Saint Louis Christian College
Berea College Soka University
Bowdoin College Stanford University
Brown University Swarthmore College
Claremont McKenna College Texas A&M University
College of the Ozarks Texas Tech University
College of William and Mary University of California
Columbia University University of North Carolina Chapel Hill
Cooper Union for the Advancement of Science and Art University of Pennsylvania
Cornell University University of Texas
Curtis Institute of Music University of Virginia
Dartmouth College University of Washington
Davidson College Vanderbilt University
Deep Springs College Vassar College
Duke University Washington and Lee University
Franklin W Olin College of Engineering Washington State University
George Washington University Webb Institute
Harvard University Wellesley College
Haverford College Williams College
Lafayette College Yale University
Lehigh University The Armed Forces:
Macaulay Honors College at CUNY US Air Force Academy
Massachusetts Institute of Technology US Coast Guard Academy
Miami University of Ohio US Merchant Marine Academy
Michigan State University US Naval Academy
Princeton University West Point US Military Academy

Early Decision: Is it the Right Decision for You?

Tuesday, January 12th, 2010

Twitter, Facebook, really, the whole internet is buzzing with two words: early decision. Who got in, who didn’t get in, and who is still waiting to hear from their school of choice is all anyone can talk about – even our Admissions Guru has been bombarded with questions. Early decision confusion?  That’s what we’re here for!

It's a LOT to think about!

katrinalopez

You can only choose one school in which to apply for early decision because it is a binding contract (not to be confused with early action which is non-binding).  Apply by the November early decision deadline (which can vary slightly between schools) to receive “the answer” somewhere between December and January.

Even if you don’t receive early decision acceptance, most colleges and universities will defer your application, giving you a chance to gain regular decision admittance.  Simply put, this deferment means that, while you still have a shot at getting into that school, you are no longer bound by the early decision contract.  You should definitely apply to multiple colleges, just know that you will have to withdraw the applications to those schools if you’re accepted early decision

When considering whether or not to send in an early decision college app for a particular school, try to imagine paying for that school without any financial help.  If that thought makes you uncomfortable (or just downright nervous), you should check to make sure that your application is subject to your receiving the minimum amount of financial aid you’ll need. Otherwise, you might end up getting bound to attend that school regardless of the amount of financial aid offered!

Again, this is a binding contract.  Colleges and universities mean business so read that contract carefully!  If you do try to walk away, you will most likely be black-listed not only at that school, but at other schools as well, which can severely hamper your future plans.  Also, if you then decide to attend a different school, that school might just revoke their acceptance of you if they find out that you broke your early decision contract.  Colleges value personal integrity – do you really want to take a chance at severely damaging yours?

But, if you have done the campus visit, taken the college tour, have completely fallen in love with a particular school, and know that it’s your top pick, you might want to consider early decision.  Why draw out the agony of waiting if you can receive your acceptance (or not) early?

Decisions, decisions.

ambrown

Better yet — Class of 2014 Facebook Pages are popping up daily so new students can get acquainted, network, and form friendships with one another before ever setting foot on campus (keep watch for our Class of 2014 Facebook list, coming soon!). That would go a long way in helping to calm first day jitters!

Early decision = fewer applicants.  However, even with a smaller pool of college applications to wade through, the applicants tend to be pretty strong (we’re talking top of their class and super involved) so  it doesn’t mean you’ll have a better chance of getting in.   Early decision is a huge responsibility.  It’s definitely not something to walk into blindly.

So, would you/have you/are you considering applying for early decision?  Why or why not?  Share you thoughts in the comments section below.

Seven Schools with Great Financial Aid Packages

Saturday, December 12th, 2009

collegemoneyThese days, money is tight for just about everyone—and college is one of the biggest expenses your family will ever face. A four-year program at many private universities will cost over $200,000, not counting the cost of textbooks and other extra fees. While some students may be eligible for scholarships (we’ve got one for you here) and financial aid, there’s always a concern that a school might reject you because you’re not able to pay their tuition.

Not these schools. With “need-blind” admissions policies, they pay no attention to how much money you have when deciding whether or not to admit you. Better yet, some schools even claim to meet full need, which means that they’ll provide grants to make up the difference between the family’s expected contribution, based on income, and the cost of tuition. While most students are able to obtain loans to help pay for college, these need-granting schools will generally contribute money that the students will never have to pay back, which can take a lot of the stress out of the college experience.

Want to see which schools have the best financial aid policies? Here’s a selection of colleges that aren’t likely to leave you with mountains of debt.

Harvard University. Last year, Harvard admitted Khadijah Williams, a homeless straight-A teen from Los Angeles, providing her with a full scholarship that covered all of her classes, textbooks, room, and board. This isn’t a first for them—the school has been long known for a remarkably generous financial aid policy, covering all costs for families who make below $60,000 and reducing the cost of college for middle-income families by as much as 50 percent. This year alone, they are awarding $145 million in need-based aid. So if you’re Harvard material, don’t worry about the price tag: you’ll find a place there

Bowdoin College. Bowdoin College, a small liberal arts school in Maine, may have a high price tag—$53,250 a year—but very few students are expected to pay that entire amount. The school offers need-blind admission, and more than 40 percent of students receive grants to help pay tuition, which do not need to be paid back. For a chance at a debt-free education in beautiful Maine, take a look at Bowdoin and its financial aid policies.

Bryn Mawr College. Bryn Mawr, a women’s college in Pennsylvania, has a generous grant assistance program, offering more than $20.4 million in financial aid to 62% of the student body. For more information, visit the school’s financial aid page.

Cornell University. This Ivy League university in upstate New York has always been generous with financial aid, but it recently announced an even more impressive initiative: starting this year, families with incomes below $75,000 will not have to pay any loan money, and families who earn between $75,000 and $120,000 will not have to pay back more than $3,000 for each year of school. The remainder of the money beyond the family’s expected contribution will be covered in full by the school. Check out their policies here.

Macalester College. This small, but highly competitive liberal arts school in Minnesota provides need-based financial assistance to all eligible students, which is about two-thirds of the entire student body. The average yearly financial aid award is $32,258, though some students are eligible for full scholarships. Find out more.

New College of Florida. Though it’s a public school, this university has only 785 students—and 90% of them are receiving financial aid assistance. With annual tuition, room, and board of just $12,567 for in-state students and $34,169 for students from out-of-state, it’s already one of the best educational deals around. Find out about their financial aid here.

Swarthmore College. This highly selective liberal arts college pledges to meet all student financial need after the expected family payments have been made, and awards more than $34 million in scholarships, loans, and other assistance to 70 percent of its student body every year. Swarthmore also offers a deferred payment plan, which allows families to pay tuition and other student fees in smaller monthly increments, interest-free, for a one-time participation fee of $60. Check out the options.

There are plenty of other fantastic schools with great financial aid packages available to the cost-conscious student. To find more, take a look at this list from US News and World Report —and make sure to register for our $2,000 scholarship!