Paying For College: Understanding Scholarships, Grants and Loans

Paying For College: Understanding Scholarships, Grants and Loans

A college education remains the most reliable path to gainful employment — but paying for it can be a struggle. Thankfully, there are a variety of options for covering tuition, books, and other necessary expenses. As explained in the below financial aid breakdown guide by Carrington.edu, common options include scholarships, grants and loans. Which is best for your situation? Keep reading to find out. Scholarships Often merit-based, scholarships are offered by a variety of schools and organizations. They may range from a few hundred to tens of thousands of dollars. No repayment is necessary, making them a desirable option for students who wish to avoid debt. Grants Grants are similar to scholarships in that they do not have to be repaid, but eligibility is generally based on need, rather than merit. Typically, grants are offered by the federal government, state government, or the institution the student wishes to attend. College Loans There are federal and private student loans. Open to the greatest range of students, college loans must eventually be paid back with interest. Some graduates are granted forgiveness for federal student loans in exchange for entering public service positions. Many students cover tuition with a combination of loans, grants, and scholarships. Think carefully as you determine which approach will provide the greatest long-term payoff. This post and infographic was provided courtesy of Carrington...
$4,000 Scholarship for Aspiring Writers

$4,000 Scholarship for Aspiring Writers

What Major Best Fits Your Personality? Find out here.   Calling all writers!   Check out this new scholarship for aspiring writers. Unlike many scholarships, it is easy and fast to apply, and you can use the money to help pay for college directly or to help you with some of the side expenses like buying a new computer. All you need to do is submit a short story, poem, blog post, or other piece of writing by November, 29, 2015, and you could win $4,000. See details below and apply here!...
134 College Scholarships Awarded SOLELY for High Grades and SAT/ACT Scores

134 College Scholarships Awarded SOLELY for High Grades and SAT/ACT Scores

Want to win a $1,000 scholarship? Sign up here. Are you just a good student looking for money for college? This list is for you. The scholarships below are awarded on the basis of your grades and test scores (SAT or ACT) only. It doesn’t matter how many extracurricular activities you’ve participated in. It doesn’t matter if you have won a bunch of awards. You don’t have to write an essay. If you’ve got the grades and scores, you will qualify for these awards. Many of the scholarships on this list are automatic and guaranteed which means that if you meet the required grade/score thresholds, you will be granted this aid money. Some require that students apply by a certain priority deadline and others are awarded on a first come, first serve basis and are limited in quantity. Either way, if you are looking for aid money, this is a great place to start. Find a scholarship on the list below where you meet the minimum requirements, and apply! You’ll have a great chance of getting merit money without the hassle of extra essays, long explanations of extracurricular activities, or recommendation requests. This is easy money.   Need a higher SAT score to qualify for a scholarship? Click Here   Alabama State University – Montgomery, AL Name of Scholarship: Presidential Academic Scholarship Value: Full tuition + fees + room + board + books Requirements: 3.76 GPA; 1170 SAT (CR+M) or 26 ACT   Name of Scholarship: Academic Excellence Scholarship Value: Full tuition + fees + books Requirements: 3.51 GPA; 1090 (CR+M) or 22 ACT   Name of Scholarship: Academic Incentive...
13 Colleges With No Tuition

13 Colleges With No Tuition

Want to win a $1,000 scholarship? Sign up here. Wouldn’t it be nice to go to a college where there was no tuition? Although no tuition colleges are becoming increasingly rare, there are still a handful of colleges that give every single student admitted a full tuition scholarship. Some of these schools still require students to pay fees, room and board, books, and transportation and some also require students to commit to working at an on-campus job, but in almost all cases, these colleges provide excellent value to all of their students. If your family can pay these additional expenses out of pocket, great, you’re good to go. If not, though, many of these colleges offer generous need-based scholarships and grants that can reduce any student payment obligation to close to nothing. Alice Lloyd College – Pippa Passes, KY Need-based admission: No Alice Lloyd College offers free tuition to students from 108 counties in Kentucky, Ohio, Tennessee, Virginia, and West Virginia. Students are required to pay for room and board ($6,740) and work 10-20 hours per week in on-campus jobs. Out of territory students are charged a total of $14,050 for tuition, room, board, and fees. Barclay College – Haviland, KS Need-based admission: No Barclay is a Christian college that awards full tuition scholarships for all students. Students are still responsible for room, board, and fees (amounting to approximately $11,000 in additional expenses). There is no work requirement. Berea College – Berea, KY Need-based admission: Yes Berea is a Christian college which awards every admitted student the Tuition Promise Scholarship which offers full tuition. As a part of the...
121 of the Best Merit Scholarships Open to International Students

121 of the Best Merit Scholarships Open to International Students

  Want to win a $1,000 scholarship? Sign up here.       Getting money as an international student is tough.   You can’t apply for federal aid, and many colleges don’t offer or severely restrict need-based aid for international students.   The good news is that there are still many colleges that offer generous merit-based scholarships that are either open to international students or in some cases are exclusively for international students.   Ranging from a few thousand dollars per year all the way to a full ride, the scholarships on the list below can be great options for any international student hoping to study affordably in the United States.   Need a higher SAT score to qualify for a scholarship? Click here American University Washington DC Name of Scholarship: Emerging Global Leader Scholarship Value: Full tuition; room & board Number of Awards: 1 Determining Factors: Academic excellence, leadership development, and global engagement Augustana College Rock Island, IL Name of Scholarship: Merit Scholarships Value: $17,000-$22,000 annually Determining Factors: Academic Achievement Babson College Babson Park, MA Name of Scholarship: Presidential Scholarship Value: Half tuition Minimum Requirements: 3.0 GPA Determining Factors: Academic achievement, leadership, and global perspective Name of Scholarship: Weissman Scholarship Value: Full tuition Determining Factors: Leadership in the classroom and community Name of Scholarship: Diversity Leadership Award Value: Half tuition to full tuition Determining Factors: Potential for leadership in creating a diverse community. Recipients of the full tuition scholarship must have financial need (need is not a factor for half tuition scholarship) Ball State University Muncie, IN Name of Scholarship: International Student Scholarship Value: Half tuition to full...
69 Colleges with Money-Saving Tuition Guarantees

69 Colleges with Money-Saving Tuition Guarantees

Want to win a $1,000 scholarship? Sign up here. College is already expensive enough so when your college decides to increase its tuition rate by thousands of dollars each year, it is understandable why you might be upset. Unfortunately, this is a common scenario. This year, the average private college increased its tuition rate by 3.7% and the average public college by 2.9%, amounting to up to $3,000 per year or $12,000 over four years. Luckily, some schools are trying to reverse this trend offering incoming students tuition guarantees. A tuition guarantee is when a college gives all incoming freshman a tuition rate and promises to keep that rate the same for them during all four years of college even if the official price of tuition increases. Some of the schools on the list below guarantee a tuition lock for all entering students. Others require students to select a tuition guarantee plan which usually locks in your tuition at a higher rate than the published price during your freshman year but gives you a rate that is forecast to be significantly lower than the price tag during your senior year, resulting in net savings over four years. You can find each college’s specific policy on the links below. Ultimately, choosing a tuition guarantee college will give you increased predictability in planning your college finances and help you keep student loans to a minimum. Alaska Pacific University – Anchorage, AK The Guaranteed Consolidated Tuition Plan  Angelo State University – San Angelo, TX Fixed Tuition Plan Andrews University – Berrien Springs, MI Tuition Guarantee Plan Austin State University – Austin, TX...