College Pay Backs: How to Earn a Return on Your Educational Investment Reply

Of course a college education is expensive, but the jobs that provide a good salary and stable employment usually require a college degree. Like any investment, college education is an investment that can never be guaranteed to pay off. Nevertheless, there are ways you can maximize your return on investment when you pursue a college education.

Go Online to Cut Costs

Adult learners have tended to gravitate to a physical campus. That is no longer the best, or the only choice. Online schools and online education programs can be cheaper because of the lower overhead. Even if you hate the idea of an online-only degree program, the potential cost savings can’t be ignored. Add the likely cost savings to the convenience of studying online, and these programs make perfect sense for most students.

Tap into Long-Term Trends

What buzzwords are making the rounds these days? It doesn’t really matter. If you want to earn a degree that pays back your investment, focus on something that ties in with megatrends like sustainability and the aging of the American population. Whatever major appeals to you, try to focus on coursework that is practical.

Focus on Something Practical

Major in something interesting, if you can, but always consider the likely market for the skills you can learn. Degrees where demand is likely to remain strong are excellent candidates for distance education. Earning a master’s of finance online degree or a masters of business administration online degree is likely to pay off.

Trendy degrees are a bad option unless you are sure the trend will last. Why? Everyone who cares about sustainability, or gender equity, or whatever is trending is looking to earn those degrees. By the time you enroll in a degree program and complete the degree, as much as three years from today, the market may well be saturated.

If you want to work in business to promote sustainability, a finance degree may actually be useful. You would know how to make the business case for reducing the company’s waste, or energy use, or both. American companies only recover 20% of the aluminum and 15% of the textiles the country uses for example. A person with a solid training in business and finance could figure out how to make money by increasing those numbers.

If you want to earn a valuable graduate or undergraduate degree, it pays to be realistic, avoid trends, and look for an online degree option.


Lizzie Weakley is a freelance writer from Columbus, Ohio. She went to college at The Ohio State University where she studied communications. In her free time, she enjoys the outdoors and long walks in the park with her 3-year-old husky Snowball. Connect with her on Google+and (@LizzieWeakley).


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

Expensive Education: How Does Bankruptcy Impact Your Student Loans? Reply

Many people with high levels of student debt consider filing for bankruptcy, only to be told that student loans are nondischargeable. While it is true that discharging student loan balances and bankruptcy can be difficult, it is not impossible, in the bankruptcy process may still offer some benefits to the borrower.

Getting Student Loan Debt Discharged

Most types of debt can be discharged in consumer bankruptcy. There are, however, some exceptions, including child support and court judgments resulting from an accident caused by drunk driving. There are also types of debts that are harder to discharge: There are special rules about discharging tax debt, and the same is also true for student loans.

Convincing a court to discharge her student loan debt requires proving that paying this debt would result in “undue hardship.” This means that you’ll have to show that paying your student loans will make it impossible for you to afford basic living expenses. In addition, you also have to show that it is unlikely that your financial situation is going to change and that you have already made a good-faith effort at loan repayment.

While most people cannot meet these qualifications, the courts have demonstrated a willingness to consider a range of circumstances when determining whether student debt is an undue burden. A bankruptcy attorney can assist you in determining whether your circumstances meet the criteria required for discharge.

Bankruptcy Benefits Without a Discharge

If you are unable to prove undue hardship, you may still be able to benefit from bankruptcy. The automatic stay on collection activity will be in effect for the duration of your bankruptcy proceedings, giving you a breather from collection calls, bank levies, and payroll garnishment. The other benefits depend on the type of bankruptcy you file for.

In a Chapter 7 bankruptcy, your other debts are discharged. Since you won’t be making payments on them anymore, you’ll have more cash available to apply toward your student loan balances. If you’ve filed for Chapter 13, your loans will become a part of your debt plan, which may mean that you’ll pay less on them during the repayment process.

Final Word

Student loan debt may be discouraging, but there are often options, including bankruptcy, which can make repayment more manageable. Student loan lenders and servicers are often willing to work with you to come up with a repayment plan that you can afford. In addition, bankruptcy remains an option even if your circumstances.


Lizzie Weakley is a freelance writer from Columbus, Ohio. She went to college at The Ohio State University where she studied communications. In her free time, she enjoys the outdoors and long walks in the park with her 3-year-old husky Snowball. Connect with her on Google+and (@LizzieWeakley).


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

Money Saving Tips for University First-Timers Reply

Starting university is a significant change in life and it affects your lifestyle and your whole personality. It brings many challenges, both academic and personal, which will require you to make tough choices, adjust to various conditions, face injustice and all that pretty much on your own, which will eventually result in making you a mature and independent grown-up. Therefore, that path is filled with moments of both despair and great happiness.

Your finances are one of the aspects of your life that will be affected. Not only will the whole dynamic of spending money change once you start uni, but also the things you spend money on. This is the time when you’ll realize that food doesn’t magically appear on the table, milk and juice do not regenerate in your fridge and if you don’t remember to buy shampoo or soap, nobody else will. The trick is to know how you spend money and to become aware of your budget and your expenses. You should learn to prioritize, so you should always know what you absolutely need and what you can survive without for another week or month. All this will be overwhelming, but here’s how you can start adjusting.

Buy essentials first

As soon as you receive your allowance, make sure to cover all your basic needs. Those may include rent, food, toilet paper, your monthly subscription for the gym, library, etc. Set aside all the money you need to spend on these necessities and leave it on the side. It’s not easy to provide food for the whole month, but make sure to buy canned food, pate, noodles and similar supplies that don’t expire quickly so you can have something to eat when you run out of money.

Set up a budget

Creating a spending plan sounds like a great idea. However, it’s really difficult and even the most realistic and experienced people find it impossible to make an accurate plan since unexpected expenses often arise. If one month is difficult to plan, divide your whole budget into four equal parts and have a weekly budget. It will be much easier for you to manipulate it this way.

Plan your shopping

After you’ve decided on what essentials you need to buy, you probably won’t be able to buy them all at once. If you cannot trust yourself not to spend the money you should leave reserved, try buying a gift card. For example, you can buy a practical Visa gift card for a bookstore and buy your books and office supplies when you need them. Also, try to avoid sudden visits to 24/7 shops. They are much more expensive, but if you suddenly get hungry at 3 am, you won’t have any other choice but to pay a higher price. This is why it’s important to do your monthly or weekly shopping in supermarkets where there are discounts and prices are generally lower.

Avoid unnecessary expenses

Your friends will often invite you for coffee breaks at uni. Also, classes stretch throughout the day and students usually feel sleep deprived due to obligations and especially during exams. This is when you turn to buying endless coffees and energy drinks. Not only that this is unhealthy, but it’s also expensive, especially when you calculate the amount of money you spend on these each month.

Save for a rainy day

This part is particularly difficult, but try to create a stack where you’ll hide money from yourself. Set aside a certain amount of cash each month and put it in your piggy-bank. It doesn’t have to be a lot, but it’s good to know you have some money lying around in case of any sudden expenses. For example, you’ll need to buy a book or copy somebody’s notes, pay for some documents etc.

Make deals with friends

You should also have a good friend that is in a similar situation as you, preferably someone who is also a student. In case you need some extra cash, you can always turn to this friend of yours who will understand and won’t hold it against you. It’s great to have someone who is ready to jump in and lend you some cash or treat you to a coffee or lunch. However, this agreement should bring benefits to both parties, only at different times.

There are many ways to save money. However, don’t set your expectations too high when trying to get your financial life in order. It won’t be easy, especially since you’re new in this area. Not everything has to be perfect. For starters, try to survive a few months without remaining penniless. That will be a major success. Later on, try to be better every day and you’ll see some progress in the future.


Emma Miller is a marketer and a writer from Sydney. Her focus is digital marketing, social media, start-ups and latest trends. She’s a contributor at Bizzmark blog and a mother of two.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

 

Top 6 Weird Scholarships for College Students Reply

By Tamiera Vandegrift, Uloop

With the price of college tuition rising exponentially every year, the fight for scholarships and other forms of financial aid has become more and more desperate as time goes on.

With the competition for scholarships becoming more and more competitive, it is easy for college students to become discouraged. After all, scholarships are only awarded to students with 5.0 GPAs, leadership positions in every student organization, and a working model of how to cure every form of human disease known to man, right? Wrong.

All types of scholarships exist for all types of students in all walks of life. With that being said, there are some wacky, quirky, and offbeat scholarships out there — yours for the taking! Typical scholarships look for grades, student involvement, community service, or research experience, but the scholarships on this list are more so based on character and originality, as they should be!

So what are you waiting for? Read on to learn more about the top six strangest scholarships for college students.

  1. Tall Clubs International Student Scholarships

Tall people rejoice! There is a scholarship just for you. You are also the subject of my envy because I stand at a laughable 5-foot-2.

Tall Clubs International Foundation is an organization founded by Kae Sumner Einfeldt, who had a dream of creating an organization that would cater to the needs of the extraordinarily tall. The focus of this organization is to provide financial help to students who fit the requirements. To be eligible, you must be a 5-foot-10 tall woman or a 6-foot-2 man under the age of 21 entering your first year of collegiate education.

Apply here

  1. American Association of Candy Technologists’ John Kitt Memorial Scholarship

Do you have a heck of a sweet tooth? Don’t worry, I will not tell your dentist. The American Association of Candy Technologists has a scholarship for you. If you are studying anything related to food science, chemical science, or biological science and have tangibly demonstrated interest in confectionery technology, you are in the right place!

To be eligible, you must be a college sophomore, junior, or senior; you must have at least a 3.0 grade point average; you must be attending a four-year college or university in North America.

Apply here

  1. Fifth Month Scholarship

“One is the loneliest number. Three is a crowd. Then there is five. What’s so special about five?” asks Unigo Scholarships.

To apply for this scholarship, you will have to find an answer. In a personal letter of 250 words or less, write to the number five and explain why it is an important number. All that you need to be eligible is to be above the age of 13 and enrolled in an accredited institution of higher education. High five!

Apply here

  1. Flavor of the Month Scholarship

I scream, you scream, we all scream for ice cream … and free money! That’s right. By telling Unigo about which flavor of ice cream you feel describes your personality the best, you will have a chance at being awarded a pretty sweet $1,500 scholarship toward your education.

In order to be eligible, you must be 13 or older and must be enrolled in an accredited institution of higher education.

Apply here

  1. Zombie Apocalypse Scholarship

Does AMC’s The Walking Dead have you putting together a survival plan for the zombie apocalypse? Well, now you can put that plan to fruition! Unigo asks you to imagine that your school has been overrun by the walking dead. What would you do? Where would you hide? What items would you bring with you in order to survive?

Get down with the sickness and apply! To be eligible, you must be 13 or older and must be enrolled in an accredited institution of higher education.

Apply here

  1. Common Knowledge Scholarship Foundation Scholarship

Are you a trivia fanatic? The Common Knowledge Scholarship Foundation is hunting for brainiacs like yourself! Create an account with CKSF and be quizzed upon registration. The quiz scores will be based off of time and accuracy and the students who get by with the highest scores at the end of each competition will win.

Quiz topics can be focused on a variety of subjects, like common knowledge, sciences, mathematics, and even entertainment. This scholarship is open to everyone: high school students, undergraduate students, graduate students, and even parents. There is no GPA requirement, essay, or need to acquire letters of recommendation.

Apply here

Visit uloop.com for more college news and to search for off-campus housing, scholarships, tutors near campus, jobs for college students, and more.

 

Home-Based Jobs Students Should Consider For More Monthly Income Reply

Though college years can be the best time of every student’s life, they can also be marked by difficulties that prevent the student from making the most of that period. Apart from the inevitable hard work, studying, researching and meeting all sorts of deadlines, a lot of students also face serious financial constraints, which add additional pressure to the existing workload.

Luckily, there are now more options for students to make some extra cash while studying than ever before. What’s more, there’s an increasing number of jobs that students can do from their home or even dorm room, which allows them more flexibility in terms of working hours and also a much wider potential market to look for an employer.

Let’s take a look at some options that require various skills and come with moderate or significant financial compensations.

Online tutoring

Tutoring has been a popular choice for a long time, but it was with the development of modern technology that it has really made a huge breakthrough internationally. Instead of receiving students at your home or working with them in the kitchen, all you now need is a good internet connection, a computer and a headset.

Whether you can help someone improve their language skills or understand complex math formulas, your market is no longer limited to your neighborhood, which significantly increases your chances of getting a job.

Transcription

One of the jobs that have also become much more global is making transcripts of audio recordings. Truth be told, there are various types of software that do the same job with little or more success, but there is a strong demand for people able to perform this task.

For some kinds of recordings, such as medical or legal, you need to get a certificate which testifies that you understand the basics of the relevant field. However, if you manage to obtain such a certificate, you’ll be rewarded with a well-paid job.

Online surveys

Another way to make money online is to conduct paid surveys. Many companies are interested in finding out as much as possible about the habits and opinions of their target groups and are ready to pay to get hold of such valuable information.

You are required to carefully answer the prepared questions and be honest about your answers and you’ll be rewarded with a small amount of money or a coupon. As you can see, this is not a job that’s going to help you save for a trip to Europe for example, but it might contribute to your budget.

Content writing

If your English is really good and you have a penchant for writing, you might want to consider becoming a content writer, i.e. someone who is hired to create content on a particular subject. The agency that hires you will give you instructions and a deadline you have to meet.

The benefit of this job is that you have a lot of freedom to organize your day and you don’t need to have contact with other people (a great advantage for those less sociable). Finally, you don’t have to look for clients, but simply make sure you produce quality content before the deadline.

Virtual receptionists

Many small companies can’t afford to hire a person to be available 24/7 to provide assistance to their clients and respond to phone calls and e-mails, which is why they opt for a virtual receptionist/assistant, who is again provided by an agency.

Virtual receptionists mainly communicate with customers over the phone or via e-mail, which means they need to have great people skills. Also, they need a basic training to know what the company does and what kind of information people most commonly ask for.

As you can see, there are quite a lot of options for students who wish to make some extra money without having to leave their room. All it takes are a computer, a stable internet connection and a certain set of skills, which depends on the job you’re after.

No matter how much you can make doing these jobs, you’re bound to enjoy having at least a bit more money in the bank to help you make the most of your student days.


Emma Miller is a marketer and a writer from Sydney. Her focus is digital marketing, social media, start-ups and latest trends. She’s a contributor at Bizzmark blog and a mother of two.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

How to Choose the Right Financial Aid for College Reply

College may be key to a successful career, but it must be paid for prior to reaping any financial rewards. Thankfully, there are plenty of options to help you cover your expenses, several of which are detailed below.

College Grants

Largely determined based on financial need, grants for college are typically offered by government entities and financial institutions. Grants are an ideal option for those who desire an interest-free solution but do not qualify for most merit-based scholarships. The downside, however, is that they are highly competitive. The Sallie Mae report How America Pays for College found that 66 percent of those attending college used grant or scholarship money to cover necessary expenses in 2014.

Scholarships

Regardless of your current financial situation, you can land a great scholarship if you impress grantors enough. Given primarily based on the merit of the applicant, scholarships may be awarded to those who have demonstrated academic excellence, athletic distinction, or some other quality that colleges, non-profit organizations, or businesses find enticing. Like grants, scholarships are very competitive, although smaller scholarships are sometimes easier to score.

Federal Student Loans

Not everybody qualifies for grants or scholarships, but that doesn’t make paying for college impossible. Federal loans are an excellent option, as they boast low interest rates and are occasionally forgiven for those occupying public service positions. Other students are able to defer payments or pursue flexible repayment plans. Federal student loans are quite common today; experts at the Institute for College Access & Success report that 68 percent of students graduate with debt in 2015.

Private Student Loans

If your federal student loans don’t cover the full cost of college, private college loans may be a viable alternative. Unlike federal loans, these are granted based on the student or cosigner’s credit score. Another major difference between federal and private loans: students with private loans are often asked to start making payments while still enrolled.

Many students pursue a combination of these financial aid options. No solution is ideal for everybody; a lot depends on income, academic achievements and/or credit score. Most students enjoy access to a range of resources, so a quality college education should be well within reach. The below financial aid breakdown guide from Carrington College can help you further determine which options apply to you:


Infographic provided by Carrington College.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

Saving For School: It’s Never Too Early To Prepare For the Future Reply

Few things can be as heartbreaking for a family as the inability to pay for school. Saving for school, which may seem far off in the future, takes a backseat to the immediate household priorities and bills. Finally, the day arrives when teenagers must decide next steps or parents must seek better employment. At this point, the future arrives, but no one has prepared for it.

What’s At Stake

According to the United States Department of Labor’s Bureau of Labor Statistics, workers with college degrees earn almost twice as much income per week as workers without one. A college degree also cuts the probability of unemployment in half. Over a lifetime, these gaps add up to hundreds of thousands of dollars in earnings gains. From this wider perspective, school is a low-risk investment in the future. It is all but guaranteed to pay off. School does not pay off when you do not go, and takes much longer to pay off when you owe astronomical student loans.

saving-for-schoolWhy Saving Early is Critical

Scores of uninformed people believe financial aid will cover all their school costs. They do not understand how the Application for Federal Student Aid works. The FAFSA application factors household income, household size, household assets and debts, and family members in school with their combined costs. This information generates a Student Aid Report, setting an estimated family contribution based on scaled standards. If the government determines you can afford to contribute X Amount of dollars to school costs, then schools will deduct X Amount from grants they offer you and suggest student loans for the rest. Without savings, student loans add up or college is not affordable.

Tips on Saving Early

As early as you can, invest in an IRA, 529 Plan or other tax-deferred savings product you prefer. Pay off or minimize household debt. Refinance and consolidate debts to lower payments. Then, put the interest and principal savings aside for school. A local financial institution like Union State Bank can help you explore your options. Encourage part-time jobs for teens aiming to go to school and try one yourself, for savings income only. Lastly, make saving a fun family project, and encourage all to chip in on little things to lower bills and conserve resources.

As the costs of higher education rise every year, preparing early is essential. As soon as parents can afford to begin and children can contribute, saving for school must be a family affair. Doing so can mean the difference between future stability and generational wealth, or underemployment at best and poverty at worst.


Kara Masterson is a freelance writer from Utah. She enjoys tennis and spending time with her family. Kara recommends looking into diplomacy programs for more information on degrees that can help save the world.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

3 Creative Way to Earn a Side Income to Pay College Tuition Reply

According to data fromBeautiful waitress with a tray The Institute of College Access and Success, a whopping 70 percent of students graduate with student loans. In fact, research shows that the average 2016 college graduate has about $37,172 in student debts.

What’s more shocking, however, is the fact that tuition and college fees keep rising sharply every year. In fact, an analysis of student fees from 1995 to 2015 found that the average tuition and fees at private National Universities has increased by 179 percent, the average tuition and fees at out-of-state public universities has risen by 226 percent and the average tuition and fees at in-state public National Universities has increased by a massive 296 percent — all in 20 years. If available research is anything to go by, it will take most students at least 21 years pay off their student loan debts.

How do you lessen your student loan debt burden and earn an income on the side? The following six ways will allow you to earn income on the side to pay your college tuition:

  1. Online Jury Duty: The law field is getting increasingly interesting, with a lot of different cases and rulings coming out with unexpected angles. In an attempt to be more prepared, trial attorneys have realized that they need to go beyond theory and get some practice before they get in front of a real judge — and they are leveraging the Internet for this: by working with online juries.

By working as an online jury, you will have the opportunity to review real cases before they get to the court; the aim of the attorneys is to see if their case can stand, and you can often earn up to $60 per case. This quickly adds up towards your tuition. You can find countless companies that pay online juries by doing an online search.

  1. Start an Online Business: You can also earn side income to pay for your tuition by starting an online business. The advantage to starting an online business is that it can be done at the comfort of your home, on your computer, and it won’t interfere with your studies. Here are some tips to help you if you decide to start an online business:
  • Partner to promote other people’s products: Save yourself the stress of having to create a product. Simply find a product that is selling well, and promote it as an affiliate. You get a commission for every sale, and this quickly adds up.
  • Start your own blog: Blogging can be one of the most effective things you will do as a college student. Not only does it help your ability to write and express yourself, it can also be a good source of income. A blog will also be useful for you after college: there are several examples of people who got their dream jobs due to their blogs.
  • Create and sell your product: This has the most potential, and if done right you can earn you enough to pay off your tuition within a year or two. However, it takes a lot of work — especially initially. It also involves several complexities, such as doing market research, creating an email list, looking for affiliate partners, etc.
  1. Become a Freelancer or Consultant: Research estimates that 40 percent of America’s workforce will be freelancers by 2020.

The surge in the number of freelancers, consultants and contract workers is mainly due to the Internet — more and more people can work remotely and still be as efficient. For you, as a college student, taking advantage of this could be the key to paying off your tuition. Some tips:

  • Establish the skills you can offer to potential clients: this could be design, writing, programming or artistic skills. You can work as a freelancer or consultant irrespective of the skills you have.
  • Take advantage of top freelance sites like Upwork to find clients that are looking for freelancers.
  • To give yourself an edge, take things to the next level by compiling a list of potential clients and reaching out to them directly.

John Stevens is an entrepreneur and founder of HostingFacts.com, an online portal that reviews web hosts. He is a regular contributor to Standford’s blog, Business Insider, Entrepreneur.com and other major publications. Follow him on Twitter @hostingfactsj.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

 

Your “After College” Survival Guide: How to Survive as a Fresh College Graduate Reply

Saving for educationBeth Bowman graduated college bubbling with excitement. She had accrued over $25,000 in student debts, but it didn’t matter because she felt she was pursuing a degree that will help her land her dream job of being a cultural consultant for a non-governmental organization. Now out of college, she was excited about her prospects.

However, Bowman soon realized the hard way that we don’t live in a perfect world. After sending about 500 job applications — to which she got no response — she now manages at a job as a policy administration specialist, a job that does not require a college degree.

Bowman’s story isn’t an isolated example.

Statistics from Pew Research Center show that it is becoming increasingly harder for college graduates to find good jobs: a whopping 44 percent of college graduates work at jobs that don’t require a college degree, and 20 percent of college graduates work in low-wage jobs that pay below $25,000. That obviously doesn’t justify today’s average student debt of $37,172.

Here are some survival tips to help you cope as a fresh college graduate:

  1. Make Preparations before Graduating College: Considering the difficulties in getting quality jobs faced by college graduates today, it is best to start making preparations before graduating college. Research shows that employers still value job experience — and having experience as a paid intern makes things even better.

The good news is that you don’t have to be out of college to get relevant job experience. You can still intern while in college; look for relevant organizations that have internship organizations for you while you’re still in college, and slowly build up your work experience. By the time you graduate, you don’t have to be disadvantaged due to lack of work experience.

  1. Get Creative About Job Applications: As a fresh graduate, don’t assume that you can get hired by applying to advertised jobs. Some sources show that up to 80 percent of jobs are unadvertised.

Instead:

  • Regularly reach out to family and friends to inquire about unadvertised job openings they know of.
  • Avoid having your life story on your cover letter. Research shows that recruiters spend less than 10 seconds going through it. Keep your cover letter short and simple.
  • Don’t ignore the internet in your job search. Apparently, 80 percent of recruiters have hired people through LinkedIn. Create and polish your LinkedIn profile.
  • Don’t just wait while you try to get hired. Take advantage of technology to accelerate your prospect of getting hired: you can start a blog or create a simple website. Case studies abound of people who got hired through their blog/website, and many said employers were wowed more by their blogs than by their degree.
  1. Pursue Side Jobs and Alternate Career Options: Many college graduates wait for years, sending hundreds of job applications, without getting their dream job and spending all that time doing nothing. This eventually leads to depression.

Get creative about other ways to earn while looking for your dream job. You can easily find side jobs that will help you sustain yourself while pursuing desirable job opportunities; income from these side jobs reduce pressure on you and help cater to some of your day to day responsibilities.


About John Stevens

John Stevens is an entrepreneur and founder of HostingFacts.com, an online portal that reviews web hosts. He is a regular contributor to Standford’s blog, Business Insider, Entrepreneur.com and other major publications. Follow him on Twitter @hostingfactsj.


All views and opinions of guest authors are theirs alone and are not representative of the views of Petersons.com or its parent company Nelnet.

The Benefits of Federal Work Study Program Reply

Students studying on the grass of a university quad.

Students studying on the grass of a university quad.

If you have begun looking into colleges, then you have likely discovered that your education is going to be expensive. You’ve probably applied to grants and scholarships and, depending on where you are in the process, you may have completed your FAFSA application as well. When looking at a way to fund your education, it is important to consider any possible avenues that are available. Depending on your and your parent’s financial situation, FAFSA may award a Grant for the Federal Work Study program.

The Federal Work Study program is not offered to all students, just those with the financial need for them. It is also not a program that all schools participate in. If you think you may qualify for the Federal Work Study program and would like to take advantage of it, it’s a good idea to check with the schools you are interested in to see if they offer something.

This program does not directly pay for your education. Instead, it provides an opportunity for you to get a part time job that pays at least minimum wage. You can use that money to pay some of your tuition, or to pay for the other expenses that come with attending college; food, laundry, supplies, housing, etc. When you qualify for the program, you’ll apply to and interview for a position, just like you would with any other job. Some work study jobs are with the school you attending, and you work on campus. Other jobs are elsewhere in the community.

If you are working on campus, often your position will be something like working at the library or bookstore or in the cafeteria. Typically, if you work off campus, your position will be something that provides some sort of public service, or that is related in some way to your field of study. The FAFSA Grant funds part of your pay, and your employer the other part. This is an incentive for an employer to hire students since the Federal Work Study Program pays a portion of the wages. If you are awarded the Work Study Grant, it is important that you start looking or a position. The Grant does not guarantee you a position, only that they will subsidize the wage.

There are other benefits to the Federal Work Study program than just money for college. You gain valuable work experience and begin to learn how to budget your time. You’ll have some work experience to put on your resume when you get out of college. If your work study job was related to your field of study, then perhaps you will have an advantage over other students, when applying for positions after college. You could enter your new career with a college degree, and a few years of experience in the field. If you qualify for the Federal Work Study program, it is definitely worth consideration. It gives you some cash you will need for college and will help prepare you for your future career.