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by Alexis Mattera

Did you know that more than 70 colleges across the country have replaced loans with grants? That’s right: Schools are offering more free money to entice students to enter their hallowed halls, meaning they will not be saddled with the often-dreaded student loan payments after graduation. What institutions come out on top? Here are a few of the best aid policies, courtesy of the Washington Post’s Daniel de Vise:

• Princeton University: The Tigers lead the pack time wise, first cutting loans in 1998 and nixing them completely in 2001.
• Harvard University: After eliminating loans in 2008, Harvard implemented a “zero to 10” standard, which pledges families earning up to $180,000 will pay 10 percent of their income at most toward college-related fees.
• Amherst College: The school replaced loans with grants and work-study for all students in Fall 2008 and the number of students eligible for Pell grants has nearly doubled to 23 percent as a result.
• Claremont McKenna and Pomona: Loans were also phased out here in 2008 but not just to help poor students. Roger Huddle, a rising Pomona senior with a household income approaching $100,000, received enough aid to cover roughly two-thirds of the full cost of attendance.
• Yale University: The New Haven-based Ivy meets full demonstrated need without loans, capping the contribution at 10 percent of income for families earning up to $130,000.

For de Vise’s complete top 12, click here. If your school made the cut, are you reaping the financial benefits? If your school is not represented, how are you paying for your degree?

by Thomas Lee

In my last article, I mentioned some of my experiences with college political parties and gave a little advice on how to choose one. While the two main choices are College Democrats or College Republicans, there are other ways one can get politically motivated on campus.

One way is joining Student Government Association or SGA as it is called at many schools. SGA is a student-led body that usually has a president and senators who help make operational or financial decisions that affect student life. I was an SGA senator my sophomore and junior years and helped plan the budget on the financial committee. SGA was allotted a certain amount of money from the main budget every three-month grant period and the finance committee would then receive proposals from all the organizations and departments on campus requesting money for specific functions. SGA then usually granted money to campus functions and student events that would promote campus life. It wasn’t a perfect process, but when has politics ever been?

Although it might not seem political at first glance, campus Greek life also plays a large role in making decisions that impact non-Greek students. At Methodist University, we instituted a Greek Council my junior year, as there ended up being a total of two fraternities and two sororities by the time I graduated. Greek Council was a governing body made of members from all four groups. They helped promote SGA events and raised money for community causes, such as helping soldiers. Ultimately, Greek Council influenced the university board of directors to approve the construction of a four-house Greek village. Academic Greek clubs such as Alpha Chi also may help in campus and community service.

So just because you don’t identify as a donkey or an elephant doesn’t mean you still can’t rock the vote on your campus!

Thomas Lee recently graduated from Methodist University in Fayetteville, North Carolina with a BA in political science and journalism. His father is an ordained Church of God minister and his mother is a private school teacher; he also has two younger sisters. Thomas’ interests include politics, law, debate, global issues and writing fiction and he believes in a personal relationship to Jesus Christ and a strong commitment to biblical morality and ethics. He currently resides in Washington, North Carolina and will be attending law school in the near future.

by Alexis Mattera

Applying for scholarships requires hard work, creativity and time...not boatloads of cash, frustration and empty promises. Each year, however, students are duped into ponying up exorbitant application fees for scholarships they aren’t even guaranteed to win. This is just plain WRONG, people – scholarships are supposed to be free money for college! – and while we’re betting you’ve already checked out our pages on scholarship scam prevention, the Washington Post recently published some refresher info:

• Filling out the FAFSA is 100-percent free and you can do it either online or on paper. If you would like to fill it out online, be sure your search terms are correct: A seemingly small typo like "FASFA" can direct you to sites that ask you to pay to file...and the forms they have are sometimes the wrong ones.
• It's legal for for-profit companies to charge for providing scholarship information but it's illegal for them to collect fees but never provide the information, misrepresent themselves as government officials or guarantee they'll get the student full funding for college.
• Voice any concerns about an organization to a high school or college counselor; they've been there and done that and can point you to the truth.
• If you are alerted that you're a finalist for a contest you've never entered or if credit card/banking information is requested online, go no further unless you are positive the organization is legit.
• Don't give in to anything branded as a "limited time offer" or "exclusive opportunity." They're just high-pressure sales tactics.
• Investigate the success stories presented at seminars. These so-called "satisfied customers" could have been paid to give glowing recommendations so ask for a list of at least three local families who used the service and contact them directly to make sure the organization delivered on its promises.
• If you do find a legitimate organization that requires payment, get in writing how much the service costs, what exactly the company will do and the refund policy.

College is expensive enough so save those application fees for books and other college expenses: All Scholarships.com’s services – from the scholarship search and college matchmaker to financial aid information and college preparation tips – are available completely free of charge. You’re welcome!

by Paulina Mis

A grant is a sum of money that does not have to be paid back. Because, like grants, scholarships are sums of money that do not need to be repaid, some grant providers use the terms interchangeably. Stipulations for both vary greatly, and the lines between the two are frequently blurred. Whether they are awarded by the government or another donor, grants are a very popular source of financial aid for college. Each year, students across the country apply and receive grants that make it possible for them to attend the schools of their choice.

Governments Grants

The government provides grants for many students who submit their FAFSA. Currently,the government offers five types of need-based grants to college students. There are Pell Grants, Federal Supplemental Education Opportunity Grants (FSEOG), Academic Competitive Grants and National SMART Grants, the most popular being the Pell. These grants are considered to be the foundations of financial aid packages, and all other financial aid should be taken advantage of once a student exhausts their grant funds.

Undergraduate Grants

Undergraduate students who, based on their FAFSA, show financial need are the main recipients of need-based government grants. For the 2007-2008 school year, students may receive up to $4,310 in Pell Grant money. Students who show extreme need, graduate from a competitive school or plan to major in the math & sciences may be eligible for additional grant money.

Graduate Grants

Unfortunately, the government reserves most of its need-based grants for undergraduates. However, there are some government-assisted grant opportunities for students who demonstrate merit or who wish to enter a certain sector of the economy.

Outside Grants

Many students go straight to the government to find college grants. Because submitting a FAFSA kills a few birds with one stone—a student can find grants, loans, and federal work study with one form—it makes sense that government grants are popular. But a college grant search does not need to stop at the gates to the white house. Colleges, universities, organizations and personal providers offer numerous grant opportunities for both undergraduates and graduates. Scholarships.com can help you find them.

Undergraduate Grants

Students who search for outside undergraduate grants may have some work to do. Such grants are out there, but many do require students to perform research or internship work. Because many providers prefer to offer such opportunities to graduate students,outside grants are more popular amongst the older crowd. Seeing as many students search for internship opportunities regardless of pay, on-the-job compensation may be an excellent perk. Students who have an interest in wildlife and are willing to work on a project in the New England area, for example, may be eligible for the A.V. Stout Fund grant. With a little work, winners can receive about $1,000-$3,000 in financial aid.

Graduate Grants

Looking to outside organizations and universities for graduate grants is a student’s best bet. Because the government isn’t much help when it comes to need-based grants,it is a good thing that outside grants, scholarships, and government loans are still an option. As is true of much graduate financial aid, many opportunities are merit based. They may also require that recipients conduct research. Organizations who would like to encourage the growth of a certain career sector frequently offer grant opportunities to graduate students.

Undergraduate and graduate grant opportunities are readily available to college students. All it takes is a little searching and, if research or an internship is involved, some dedication. For undergraduates, submitting a FAFSA may be all it takes.

by Jessica Seals

Students with hopes of obtaining college degrees in the state of Tennessee now have more issues to worry about other than just getting accustomed to the college lifestyle: Negotiations have been taking place that will place an even bigger burden on the financial status of students.

Currently, students who have been living in Tennessee for at least a year can apply for a lottery scholarship formerly known as the HOPE Scholarship. This scholarship provides $4,000 to students who attend four-year public or private schools and $2,000 for students at two-year schools. A student could receive this award during each fall and spring semester for up to five years; however, legislators are currently working to put a 120-hour cap on the scholarship before the 2011-2012 school year begins. A 120-hour cap means that some students who have chosen to have more than one major will more than likely lose the scholarship before they graduate and have to find alternative ways to pay for school. This cap will reportedly only apply to students who began attending college in 2009 or after but depending on where students go to school, they could also be hit with tuition increases. Schools such as the University of Tennessee in Knoxville are hoping to implement a 12-percent tuition increase for the upcoming academic year.

This increase, along with a cap on lottery scholarships, has caused more students to become stressed out because it will be even tougher to pay for school. These limitations on financial aid could lead to an increase in students who drop out of college, a decrease in the number of students attending college and an increase in the amount of loans that students will have to take out. Will these changes impact your college experience? If so, how do you plan to address them?

Jessica Seals is currently a senior at the University of Memphis majoring in political science and minoring in English. At the University of Memphis, she is the secretary of the Pre-Law Society, the philanthropy chair of the Phi Kappa Phi Student Council and a member of Professional Assertive United Sisters of Excellence (PAUSE), Golden Key Honor Society, Alpha Lambda Delta Honor Society, Sigma Alpha Lambda Honor Society, and Black Scholars Unlimited. She also volunteers to tutor her fellow classmates and hopes to attend law school in the near future.

by Shari Williams

Community service is something most of us have done at one point or another. For some high schools, it’s a graduation requirement but I believe serving your community is vital whether it’s mandated or not. The good news for college students is that not only does community service help others but it can also translate into money for school.

One renown program is AmeriCorps. Several colleges and universities take part in this program, providing information and opportunities for students to get involved. Each year, AmeriCorps gives students opportunities to participate in year-long service-learning programs. If a certain amount of community service hours are acquired by the end of the year, the student is granted a stipend.

Another option is the Fulbright Program. Fulbright has an array of grants included in their U.S. Student Program to students who have studied or are studying foreign language, music, business, journalism and public health, to name a few. Fulbright is an opportunity geared more toward soon-to-be or recent college graduates looking for more experience in their fields. Students live outside the U.S. with most expenses paid and full or partial tuition awarded. A special program opportunity that Fulbright offers is the Fulbright-mtvU Awards, which provide four grants to recent graduates studying outside of the country who will conduct research on international music culture. If that sparks your interest, they have many more opportunities to apply for.

Both AmeriCorps and Fulbright are awesome opportunities and are great ways to gain valuable experience. For more information on Americorps or Fulbright, visit www.americorps.gov and US.FulbrightOnline.org, respectively, or contact your college.

Shari Williams is a junior at Towson University with a double major in deaf studies and broadcast journalism and a minor in entertainment, media and film. With experience in public relations, a love for music and a passion for acting, she longs to be a jack of all trades. A Baltimore native, Shari is an avid traveler and opportunity seeker. She hopes to become the next face seen on the morning news or the voice heard over the radio.

by Suada Kolovic

Unless you’ve taken residence under a rock for the past few weeks, you’ve heard about the debt ceiling crisis. Thankfully, the White House and Congress have reached a deal to raise the nation’s borrowing limit and shrink the federal deficit which avoids many of higher education’s worst-case scenarios, namely cuts to Pell Grants, the end of subsidized student loans or a government default that would leave student financial aid and other funding for colleges in limbo.

Here’s the breakdown: The agreement would cut $1 trillion right away and create a committee to reduce the deficit by another $1.5 trillion by November. If approved in Congress, it will avert default on the nation’s debts and ensure that the government has enough money for federal benefits, including student aid. In layman’s terms, the bill would provide $17 billion for the Pell Grant program but the measure would only be temporary. Because House conservatives oppose tax increases, it is likely that the committee charged with reducing the deficit will favor spending cuts over revenues increase, putting Pell Grants and other student aid programs at risk for cuts in the near future.

Do you think slashing funds for higher education is problematic? Let us know what you think.

by Suada Kolovic

Figuring out the bottom line when it comes to the cost of your college education is definitely a stressful part of the process. With everything that goes into determining your financial aid package (your parents’ income, your earnings and your family’s net assets), it’s important to understand that merit aid – aid based on a student’s attributes (academics, athletics, extracurriculars, etc.) – is available to student regardless of their “need.” New federal rules are blurring the distinction between scholarships awarded on merit and grants awarded because of a student’s financial need – for instance, a growing number of colleges now award “need-based” aid to students from families earning six figures! Who would have thunk it?! So, we’ve compiled a few helpful tips to maximize your chances for merit aid and increase your overall financial aid package.

• Fill out the FAFSA. Federal rules have changed. College aid officials are now allowed to award need-based aid to students whose parents earned decent salaries last year but have recently been laid off, as well as make accommodations for a family’s unique circumstances, such as high medical bills.
• Apply to schools where you’d rank at the top. While your dream school might be an Ivy League, you should apply to at least a few colleges where your GPA would put you in the top 25 percent of the student body.
• Apply to schools that offer generous need-based aid. In the 2009-10 academic year, Louisiana College reported that 88 percent of students were receiving non-need based financial aid. Do the schools you’re considering boast the same kind of aid?
• Do the research. If you’re interested in a college, find out what it has to offer when it comes to merit aid. You might qualify for more awards than you think!
• Before making a final decision, compare net prices. Consider the cost of attendance in its entirety including tuition and fees, room and board, books and transportation. The school that offers the most in merit aid might not be the best choice; sometimes the college offering the largest merit scholarship might have the highest net price because its tuition is higher.
• Don’t be afraid to negotiate. Believe it or not, you have negotiating leverage when it comes to your merit aid package. If you have received admission letters from two or more universities and your first choice has a higher net price than your second choice, contact that institution! Some schools might be willing to match the merit aid offered, which would provide you the opportunity to attend your first choice school for less money!

by Alexis Mattera

According to a study by the National Center for Education Statistics, it costs approximately $80,000 in tuition plus expenses to earn a bachelor’s degree from a public four-year college and about $140,000 to gain the same credentials from a private nonprofit four-year institution. There are certainly ways to find this kind of funding – grants, student loans and, hello, scholarships! – but will your major of choice be worth the money? If you select one of the fields included on PayScale’s list of best-paying college majors, it is decidedly so.

The annual list is dominated by engineering, with seven of the top 10 in branches of the field, while the other top-earning degrees include physics, applied mathematics and computer science:

Petroleum Engineering

• Starting Median Pay: $97,900
• Mid-Career Median Pay: $155,000

Chemical Engineering

• Staring Median Pay: $64,500
• Mid-Career Median Pay: $109,000

Electrical Engineering

• Staring Median Pay: $61,300
• Mid-Career Median Pay: $103,000

Materials Science and Engineering

• Starting Median Pay: $60,400
• Mid-Career Median Pay: $103,000

Aerospace Engineering

• Starting Median Pay: $60,700
• Mid-Career Median Pay: $102,000

Computer Engineering

• Starting Median Pay: $61,800
• Mid-Career Median Pay: $101,000

Physics

• Starting Median Pay: $49,800
• Mid-Career Median Pay: $101,000

Applied Mathematics

• Starting Median Pay: $52,600
• Mid-Career Median Pay: $98,600

Computer Science

• Starting Median Pay: $56,600
• Mid-Career Median Pay: $97,900

Nuclear Engineering

• Starting Median Pay: $65,100
• Mid-Career Median Pay: $97,800

Does this list have you reconsidering your college path or will you stick to your intended major?

by Alexis Mattera

The fall semester is in full swing at universities around the country and college students are trying to stretch their funds for tuition, books, housing and other college costs as far as they can go. It’s never easy but students at the University at Buffalo are having a more difficult time than usual.

In the past, UB sent out financial aid to coincide with the start of the academic year but pushed disbursement for roughly 18,000 students back three weeks this year – a 21-day difference that left many UB students unable to buy books, pay rent or pay for classes. Though UB’s Vice Provost A. Scott Weber said the change was made to “protect students” by making sure they would receive the exact amount of money they are eligible for, the student newspaper previously quoted interim financial aid director Jennifer Pollard as stating the policy change was a response to fraudulent activities by students.

UB officials did admit they should have done a better job getting the word out about the financial aid change but students and educators alike are still not happy: One professor called the situation “chaos in the classroom” and a “stupid disaster” and a graduate student said the ordeal “draws to question some bigger problems with the administration.” (We’re sure these are among the tamer reactions.) Any UB students out there? Has the funding disbursement delay negatively impacted your semester? College students in general, how would you react if this financial aid fiasco happened at your school?