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by Alexis Mattera

Here at Scholarships.com, all of our resources are geared toward helping students prepare for and afford college educations...not leave them behind. That being said, this new award probably won’t be popping up in our database any time soon.

Peter Thiel, the co-founder of PayPal and the first outside investor in Facebook, announced the inaugural recipients of the Thiel Fellowship, a program that will bestow 24 students with $100,000 each to not attend college for two years and develop business ideas instead. The driving force behind the fellowship is Thiel’s concern about the “irrational” increase in cost and demand for college educations and his belief that certain students would learn more by leaving school than continuing traditional coursework.

Not surprisingly, heated debates have erupted in academic circles – William K. Aulet, managing director at MIT's Entrepreneurship Center, believes the fellowship is sending the wrong message, stating, "To say that you're better off dropping out of school is a gross generalization." – but the fellowship winners have a different outlook: At least two recipients have expressed interest in returning to school at the end of the fellowship and one prospective winner turned down the deal entirely to enroll at MIT, which signals traditional education is still valued.

What do you think about the Thiel Fellowship? Would you be more than willing to apply and leave school if selected or would you prefer to continue your education in the classroom instead?

by Paulina Mis

Scholarships are great, all free money is. But as is true for earned income, students who receive awards may have to report them to the Internal Revenue Service (IRS). To be in the clear, undergraduate and graduate students should take the time to check if their scholarships and fellowships are tax free. As long as students are careful about how they spend the money, their awards will probably be tax exempt.

Scholarships and Grants are tax exempt if:

1. The recipient is a degree candidate at an educational institution with a regular faculty, curriculum and enrolled body of students who attend at the location of educational activities.

2. The scholarship money is used for required tuition, fees, books, supplies and equipment. Scholarship money used for room and board, travel and optional supplies is taxable.

3. The recipient is not accepting the scholarship in exchange for services received (e.g., teaching and research). This rule does not apply to scholarships received from the National Health Service Corps Scholarship Program or the Armed Forces Health Professions Scholarship and Financial Assistance Program.

Sometimes, only a part of a student’s scholarship or fellowship will be taxable. For example, a student may receive $3,000 in fellowship money from a school. However, $2,000 of the money will be offered in exchange for assisting a professor in her research (fellowship money usually accompanies such stipulations.) The remaining $1,000 will not be taxed, as long as it is used for qualified school expenses. A student’s future research service earnings may have to be estimated and reported, even if the work has not yet been completed.

To be certain that all income is accounted for, students should take a look at scholarship conditions and whether they can be used to cover qualified expenses. Students who believe their scholarship and grant money may be taxable should report their award to the IRS. If the scholarship is not taxable and the student has no income aside from the scholarship, a tax return does not need to be filed.  To find additional information on scholarship, grant and fellowship opportunities, students should conduct a free scholarship search and take a look at Scholarship.com’s financial aid resources.

by Paulina Mis

Applying for a number of small scholarships is a great way to accumulate financial aid for college, but some students prefer to go straight for the big fish. Rather than follow the, “a penny saved is a penny earned” mantra, they prefer to abide by the, "go for the gold" one. 

Whether you are the former or the latter, plenty of scholarship opportunities are available to you. But be advised, the bigger the award, the bigger the competition. Students who find information about a big-ticket scholarship frequently opt for that rather than spend time on one which, in comparison, looks like a conciliatory prize.

If you’re looking for top awards, check out the full ride scholarships listed below. For more information about college scholarships and grants you may be eligible to receive, try conducting a free college scholarship search.  If you are looking for full tuition scholarships granted  by your current or future college or university---most award a handful of them--- try visiting  their financial aid office websites. You may conduct a free college search to find these websites along with estimated costs of attendance.

The Tom Joyner Foundation Full Ride Scholarship

The Tom Joyner Foundation Full Ride Scholarship will be awarded to a freshman entering a Historically Black College or University (HBCU) in the United States. A full tuition waiver as well as a stipend covering room, board and books will be offered.

Microsoft College Career Scholarship 

A one-year, full tuition scholarship will be awarded to winners of the annual Microsoft College Career Scholarship. Financial aid will be offered to students who major in computer science, computer engineering, or a related technical discipline such as electrical engineering, math, or physics. Applicants must be undergraduate students who maintain a minimum 3.0 GPA.

Posse Scholarship

The Posse Foundation awards full tuition merit scholarships to students who plan to attend one of its partner schools. Winning high school students are trained in multicultural teams called “Posses” to successfully complete programs at top-tier colleges and universities.

Hertz Fellowship

The Hertz Foundation awards students a full tuition renewable grant plus a stipend of up to $31,000. The award is merit-based and offered to students pursuing a Ph.D. in the applied physical and engineering sciences or modern biology with physical science applications.

The USDA/1890 National Scholars Program

The United States Department of Agriculture (USDA) and 1890 Historically Black Land-Grant Universities are collaborating on a scholarship program for students who attend one of the 1890 Historically Black Land-Grant Universities. Full tuition, room and board, employment with the USDA during the summer and after graduation, fees and books will be covered.

by Angela Andaloro

The decision to attend college is one that everyone arrives at differently. For some, not going to school isn’t an option, be it by their own standards or their parents’; for others, taking the next step in their educational career may have required a little more convincing. I have even heard stories of parents who bribe their kids to go to college with promises of apartments or cars.

While a new ride or a place to call your own might sound tempting, there’s an even more tempting offer out there from PayPal co-founder Peter Thiel – the 20 Under 20 Thiel Fellowship, which, in exchange for a commitment to not attending college for two years and dedicating themselves entirely to their inventions, Thiel offered each fellow $100,000. The response was overwhelming, as are the opinions floating around the controversial award.

One of the lucky 20 fellows, Dale Stephens, wrote an article for CNN discussing his own feelings toward the idea that real world experience could prove to be more beneficial than a formal education. He discusses his disappointment in the values that are promoted by the college system – a disappointment that resounds on college campuses around the country. He goes on to discuss the possibilities out there for our generation beyond a traditional education, which, as Stephens puts it, are beyond the extremes of “Becoming the next Mark Zuckerberg or mastering the phrase ‘Would you like fries with that?’”

Stephens’ call to seek opportunities beyond the formal educational system may be influenced by his experience as a Thiel Fellow but is an idea that is considered by many current and soon-to-be college students. I myself have heard students complain about feeling as though they aren’t really getting anything out of college. The phrase “I’m never going to use this in real life” is one that’s uttered frequently, but how much truth is there to that? Do you feel that there’s something to be learned in college or is it a societal expectation we’ve come to accept?

Angela Andaloro is a rising junior at Pace University’s New York City campus, where she is double majoring in communication studies and English. Like most things in New York City, her life and college experience is far from typical – she commutes to school from her home in Flushing and took nearly a semester’s worth of classes online – but she still likes to hang out with friends, go to parties and feed her social networking addiction like your “average” college student.

by Alexis Mattera

The road to college – once thought to be straight and narrow – is detouring into uncharted territory. It was once expected for all high school seniors to matriculate to an institute of higher education the semester after they graduate but today, many students (and their parents) are considering the notion of taking a year off from formal schooling first.

But what do students do during this time, often called a gap year? Not catching up on “Extreme Couponing” or trying out online dating: Students use this time to volunteer abroad or build their resumes and schools are adopting formal programs allowing incoming freshmen to defer admission for a year to do so. According to the Wall Street Journal, "gap fairs" are becoming just as common as campus job expos. The results? Mixed. While most students end their gap years better prepared to attend college, some get so waylaid that they abandon a collegiate education all together.

It may sound tempting to take a year off to explore the unknown but there are a few confounding variables. First, the price tag is far from alluring – unless you feel $35,000 is a reasonable figure. (The upside is that costs can be defrayed by stipends, grants, research fellowships and scholarships or the agreement to work in a very remote area.) Next, the hazy direction of your future. I won't deny that your late teens and early 20s are the best times to gain life experience but if said experience is going to leave you in debt or questioning once-important educational goals, is taking the time off worth it?

In addition to the expansion of health coverage for Americans, another significant change has been made and another major economic issue addressed with the termination of the bank-based system of federally subsidized student loans.

With a vote of 220 to 211, the controversial bill, HR 4872, was passed by the House on Sunday and is expected to gain Senate approval within a few days. The bill, known best for the health-care provisions it contained, also addressed and closed the twenty year debate over whether to include private lenders in the federal student loan system.

Most of the savings expected to be derived from this major change (estimated at approximately $61 billion over the next decade) will be used for increasing the value of the Pell Grant for low-income students. Historically black colleges and community colleges are also expected to benefit from the savings this program offers. The House passed a similar bill in September of 2009, but didn't garner enough votes to pass the Senate. This time around, it was packaged with the health-care measure, and the amount dedicated to education has been reduced.

by Emily

Are you considering a career in public service, such as working for the government or a non-profit organization, but more than slightly overwhelmed by the thought of repaying your student loans with an often minuscule salary?  Realizing that you may actually be taking a pay cut to transition from your summer job to your "grown up" career can be demoralizing, and dealing with debt on top of that certainly doesn't help.  While many noble individuals certainly make this sacrifice, perhaps you were hoping to forget where the grocery store kept its "manager's special" items after you graduated.  And who can blame you?  The college budget diet, and the accompanying lifestyle of cramming half a dozen people into one run-down apartment, eventually does get old.  Luckily, there are forms of financial aid out there to minimize or relieve your debt and help you stretch that public servant salary a little further.

Some of the most well-known career-based assistance programs are designed for teachers.  The TEACH grant contributes $4000 a year towards the tuition of students who agree to teach a high-need subject at a low-income school for four years. Other programs such as Teach for America offer teaching certification, a stipend, and assistance with student loan repayment to individuals agreeing to teach in certain schools.

Teachers and other public servants can also qualify to have their Federal Perkins Loans canceled, saving up to $16,000.  Nursing students and other medical students can get in on this program, as well.  The federal government also launched a public service loan repayment program a year ago that will forgive qualifying federal student loan debt for those who commit ten years to public service.  In addition, a variety of government scholarships provide incentives for students in various majors to consider federal work.

An article appearing in USA Today this week also mentions some university-specific programs to help steer students towards public service careers.  Harvard Law School will waive tuition for one year for students who commit to five years in government or non-profit fields, and Princeton University will provide free master's degrees to eight 2008 graduates who first put in two years in federal jobs.  Tufts University is also helping its undergraduate students pay down debt or pursue graduate degrees if they commit a few years to public service work.

If you're leaning towards a career with a government agency or non-profit organization, be aware of the scholarships, grants, fellowships, internships, and loan repayment programs out there.  Include a free college scholarship search in your research to find out about many of your options for funding your education and minimizing your debt.

Service-minded students have a variety of ways to fund their college education through community service scholarships and other awards. Now, students interested in attending Dickinson College in Pennsylvania can participate in a fellowship program that awards $10,000 towards tuition for each year of full-time public service completed.

The Dickinson College Public Service Fellowships are awarded to high school seniors who are interested in deferring enrollment in college to first work in public service in some capacity. If accepted, students can defer enrollment for up to four years, and receive up to $40,000 in scholarship money through this program. Qualifying public service work can be independent or done through a national service organization, such as AmeriCorps, and can be paid or unpaid. Projects must be devoted to some aspect of improving the human condition or the natural environment.

While these scholarship awards are only offered through one college at present, at least one other school is seeking to encourage students to become engaged in public service before they start actively pursuing their college degrees. According to The Christian Science Monitor, Princeton University has also launched a program to pay for admitted students to first engage in a year-long service project abroad before beginning classes.

Several colleges have recently announced campus-based scholarships for community service. Many other schools also match AmeriCorps tuition awards, and over 1,100 private colleges have also pledged to assist veterans with tuition to acknowledge their service to the country. If you are a high school student hoping to get involved in a large-scale service project, there's more incentive than ever as colleges and scholarship providers continue expanding financial aid awards for locally and globally engaged individuals.

by Paulina Mis

Women may have equal rights under the law, but their movement is far from over. According to the American Association of University Women Education Foundation, one year after graduating, women who work full time earn 80 percent of what men do. Ten years later, that percentage rises to 69 (with work hours, occupation and parenthood taken into account). Even as women continue to outperform men in every academic college major, this gap persists.

But there’s no room for self pity. Being proactive is the best solution, and many scholarship providers are here to help women reach their full potential. With the help of numerous internships, fellowships, scholarships and grant opportunities, colleges, foundations and private donors are helping females afford the education and training they need to succeed.

If you’re a current or future female student, or if you know someone who is, check out the women's scholarships below. For additional scholarship and grant opportunities, try conducting a free college scholarship search.

AAUW American Fellowships

Each year, the American Association of University Women offers fellowships to assist women pursuing a doctoral degree. Winners are chosen based on academic record, teaching experience and commitment to helping women in the community. A $30,000 postdoctoral research leave fellowship as well as a $20,000 dissertation fellowship are available.

APS/IBM Research Internship for Undergraduate Women

Undergraduate females have the chance to win a paid, ten-week internship at one of three IBM locations. In addition to the pay, winners will receive a $2,500 grant and the opportunity to work with an IBM employee. The American Physical Society (APS) and IBM will award this internship to sophomore and junior college women interested in pursuing a graduate education in science or engineering.

Executive Women International Scholarship Program (EWISP)  Eligible high school juniors will have the chance to win a $10,000 college scholarship by applying for the Executive Women International Scholarship. Application rules and deadlines will vary based on local Executive Women International program chapters.

Women in Business Scholarship  Women who pursue an undergraduate business degree and demonstrate potential in their field may be able to win a $5,000 scholarship for college. Applicants will have to submit a scholarship essay of 500 words or less as well as two letters of recommendation. 

Talbots Women's Scholarship Fund

The Talbots Women's Scholarship Fund will award five $10,000 scholarships and fifty $1,000 scholarships to women who return to school to pursue a two or four-year college degree. Women must have earned their high school diploma or GED at least ten years ago. Six judges including five-time Olympic champion Evelyn Ashford, Judge Milian of “The People’s Court” and More Magazine’s Editor-in-Chief Peggy Northrop will judge applications.

Microsoft Women Scholarship

Microsoft is awarding scholarships to women interested in pursuing an education in the computer sciences and related fields. To be eligible, students must maintain a 3.0 GPA and be enrolled in a full-time bachelor’s degree program at a college or university in the US, Canada or Mexico at the time of submission.

by Paulina Mis

The whole “college graduates earn $1 million more than non graduates over their lifetime” stat is getting a bit trite. I’ll give you a few more if you’re not convinced that college is a worthwhile investment.

College graduates enjoy greater career security

College graduates can offer their children a more secure financial future

College graduates are healthier

College graduates are more likely to contribute to society

Anyway, you get the picture. The problem isn’t that the whole “follow your dreams” thing makes no sense. The problem is affording those dreams and affording the time and preparation it takes to follow them. Most of us don’t make enough money to loll around devoting our days to perfecting our sculpting skills and sharpening our 3 point shots. Even those with less risky dreams can’t always afford to test the waters, especially if the schooling required to get those jobs is too expensive and time consuming. That’s why so many students find themselves having to compromise their initial career goals after realizing their dream jobs won’t allow them to pay off student loans. Let’s just say that the need for qualified teachers isn’t caused by a disinterested public.

Sorry, I didn’t mean to be gloomy. I swear there’s a silver lining. Financial aid in the form of government grants and outside scholarships is readily available to students in difficult situations. Without a cloud of college debt hanging over your head, “The Road Not Taken” may suddenly become an option. The financial aid information found at Scholarships.com will help you familiarize yourself with the FAFSA, government grants, corporate scholarships, private scholarships, the ins and outs of student loans and myriad other financial aid opportunities. Whether you’re interested in preliminary information or ready to get down to business by finding scholarships, we can help you do it.

If you’re not convinced, you can take a tour of our site. Visit our homepage, and take a sort of “Tour de Scholarships.com” if you will. We can help you see how conducting a free college scholarship search will help you find scholarships and grants that, based on the information you provide, you're eligible to receive. Find New York scholarships, scholarships for graduate students, scholarships for minorities, poetry scholarships, music scholarships—you name it, we’ve got it. With information about more than 2.7 million scholarships and grants, Scholarships.com offers more than you’ll know what to do with. If you’re not convinced yet, just take the tour. Like the search, it’s free. You’ve got nothing to lose, and a world of financial aid opportunities to gain.