Types of Money for College

• Scholarships - Scholarship programs provide free money for college that doesn't have to be paid back. There are two basic types of scholarship awards - merit-based and need-based programs. Merit-based scholarships select recipients for college funds based on academic qualifications like grades, leadership & organizational experience, test scores, and other academic awards and honors. Need-based scholarships, on the other hand, provide money to students with financial need based on their personal or family incomes.
  
• Grants - Grants are similar to scholarships in that they do not have to be repaid, but they typically require an additional project or research effort that can be promoted by the organization providing the grant. Technically, a grant may not have any strings attached, but the majority of them go toward advancing knowledge of a particular subject or advocating for a particular cause.
  
• Financial aid - Financial aid is money that comes from the college or from the government that doesn't have to be paid back. Typically, this money is based on financial need and the amount available in a particular year may be variable depending on institutional investments or current government law. Applications are generally accepted on a first-come first-served basis, because there usually isn't enough money available to provide funding for every single student that is technically eligible.
  
• Student Loans - Student loans are a less than idea source of college money, because they will eventually have to be repaid with interest costs added in. While they can be a pain to pay for, student loans still typically carry a good return because the money you'll make with a college degree far exceeds what is usually possible with just a high school diploma.
  
• Contests - Contents, drawings, and raffle-like programs can often provide significant awards to students who are lucky enough to be selected (and diligent enough to apply to many offerings). This money doesn't have to be paid back, but students are usually selected at random and have almost no way of influencing their odds of winning without simply applying to more contests.
  

FAFSA is Free Money for College

The new year is the time get working on FAFSA applications. By the way, FAFSA stands for "Free Application for Federal Student Aid" and it is an application process that determines whether or not students are eligible for free money for college from the government.

All awards are made on a financial-need basis, that means students are selected based on exactly how much money they need when income and expected costs are considered.

This money can come in two forms: grants and subsidized student loans. Grants don't ever have to be paid back, and are typically given in small lump sums annually or per semester. These provide up to a few thousand dollars a year, so they won't pay for all of a college tuition bill unless you're keeping costs low by attending a local community college or other economically friendly institution.

Subsidized student loans will eventually have to be paid back, but they offer many advantages over privately offered student loans. Since they're backed by the government, they're even a lot easier to guarantee than private loans during the credit crunch. And the obvious advantage is that they offer lower interest rates and more generous repayment terms. Usually, the government will pay for interest so long as you're enrolled in college, and during this time you might not even have to make monthly payments. As long as you stay in school, these types of loans are literally free money.

So don't waste any time! Register for the FAFSA at http://www.fafsa.ed.gov/ today! If you don't have a PIN, make sure to register immediately as it may take up to a few days to process. This year, there's even an option to file the FAFSA by phone - so you have no excuses!

Study Habits and the College Investment

College costs a lot of money and it isn't getting cheaper. For a student, there is really just one option: you need to maximize the investment of tuition by maximizing the return on your investment of time and money into school.

Good study habits are essential to success in any level of school. Regardless of the class and its individual difficulty, the proper level of preparation and research is going to coincide with the total educational value you achieve when learning a new subject. This return will also be visually realized with grades and a GPA that you can use to find more choices for scholarships and financial aid.


What is the right study habit? Basically, it is unique for every individual student, but I will give you a few hints to get started figuring out what works for you. Listen to your mind and learn the environment that allows you to read uninterrupted and contemplate the content.

Avoiding outside distractions is essential. Try turning the phone and instant messengers off for an hour or two and let the battery charge a bit.

Some people like quiet, but I personally like to listen to music. Some people like to sit at a desk, some people like to stretch out on a bed. There is no right or wrong on matters of comfort when you're studying , just be sure to be respectful and mindful of the noise if you're at a library.

Take notes: In class or at home reading, one of the most essential ways to retain knowledge and expand your ideas is to take notes on key topics, events, people, dates, theories, or formulae. Memory retention increases exponentially if you take the time to write a fact down, so bring several good pens and a blank notebook any time you're going to study or do homework.

Saving Money for College Key Strategies

Saving Money for College

Key Strategies:

• Minimize costs: Consider local community colleges for two years, state public universities, or anything that allows you to live at home or with family for a little while longer. If you are living on your own and you feel like you've had enough ramen noodles, consider some potato or rice ;) Its kind of different

• Apply for Scholarships, Grants, and Fellowships: Search for other sources of tuition money like private organizations, charities, and government assistance. Use multiple free sources of funding information and apply for several programs that most closely match your personal eligibility information. The odds aren't good if you just apply once to the first scholarship you find. Focus on programs and awards with very specific requirements that match you personally. Then apply to as many of these as you can possibly identify.

• Find a Part-time job or start a small business: You may have marketable skills that you take for granted, like the ability to fix general computer problems, or plug in a communications network. Maybe you know a little more technical information too and you could start up your own website or find a good job that pays a decent wage. If you're particularly good at a certain class, consider offering private tutoring services for your fellow students - or try to take on a position with the school's academic assistance departments.

• Participate in College Discussion Online: Find online communities of students dealing with the financial aid process. I'd recommend Scholarship Forums or College Confidential, but there are literally hundreds if not thousands of sites like these where you can talk about money, admissions, applications, anything to do with college life and success

• Keep up on Education News: New online technology like 2.0 bookmarking and social bookmarking services make it easier than ever to stay up to date on the news and developments of the education world. Here is a Web 2.0 application for education links and bookmarks. Check out the latest news here or sign up to submit your own education resources for other students and academic professionals.
  
  
• Save Money with Regular Purchases: Upromise makes it easy for students and families to save money for college with everyday purchases on things like groceries. Registration for this service is completely free, and it can help you turn unavoidable expenses into a little bit of help paying for school.