Thursday, January 15, 2009

Money for College

St. Augustine said, "Pray like it all depends on God and work like it all depends on you." That is the exact formula for finding and receiving scholarship money. The state of the current economy makes this quote all the more applicable. Local and state government budgets, businesses and foundations all have smaller balance sheets than a year ago. Less available scholarship money and more college students equals less money all around. What can you do to improve your student's chances of winning some scholarship money?

1. Start early. Most university and colleges set a final scholarship deadline of Feb. 1st, however, many set a "priority deadline" that can be as early as November. Applying for admission and scholarships early places your student's application on the top of the pile instead of the bottom.

Although the best chances for garnering a large award is found from the university, money can be found from lots of other sources but again, the search must begin early. Start finding and applying when your student is a FRESHMAN. No-I'm not kidding! Some scholarships exist that must be applied for while they are freshman, sophomores or juniors.

2. Apply at any institution you may attend.
While teenagers are not usually known for their sound judgement and good decision-making abilities, the additional factors of senioritis and impending graduations make them even more flaky. Although students may know they want to attend a certain college, circumstances change. It is better to have applied, received and declined a scholarship than not.

3. Write a quality essay. Most foundation and business scholarships require some type of personal statement. Write a great one and then adapt it for each scholarship. What defining moments have occurred in 12 years of education or 18 years of life and how have they shaped your character? What are your dreams and goals for the future? How will this money assist you in the pursuit of those dreams? What sets you apart from the other 500 people who applied for this scholarship? After it is written, have 2 or 3 people proofread it and give feedback.

4. Check scholarship bulletins and school counseling offices every week during the senior year. Most high school counseling offices publish an online scholarship bulletin each month and more often if necessary. Make it a habit to check it once a week. Check the other local high schools bulletins as well--some are more user-friendly than others. This is really a parent's job. High school students may discount their qualifications or interests and they will need your guidance and direction to encourage them to submit and application for ALL that may apply.

5. Enlist the help of others. Check with extended family members and friends for available scholarships at their places of employment.

6. Apply for financial aid. Apply at http://www.fafsa.ed.gov/ for federal financial aid, such as grants, loans and workstudy programs. The information will be communicated to your choice of higher education option and to assist in the receipt of local and state funds as well. Remember, the earlier you apply, the better.

7. Start saving now! Regardless of how soon your student leaves for college, it is not too late to save. Encourage them to save a portion of their burger joint earnings for college. If they have to pay for some it, they will appreciate it more.

Voila! You have a lot of work to do-you had better get praying too.

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