Posts Tagged Financial Aid
All Scholarship Applications are Alike, Right?
Posted by admin in Scholarships on October 13, 2010
Evaluating thousands of scholarship applications has definitely left an impression on me. I still remember some of them, because the students who submitted them managed to get into my head in a personal way. Many books and articles will tell you that “personalization” is good, but they don’t tell you how to accomplish that. I saw a photo attached to an app showing the senior student shaking hands with the President of the United States. Another enclosed an audio ! tape that revealed his talent to play the fiddle in a country band. A girl had her photograph taken with a well-known professional golfer after she had won a state tournament. A boy included a picture of his debating trophies. Another had won a two day fishing tournament and held the trophy in a picture to prove it. Another had built his own computer. Still, another had patented her own invention, a device for counting inventory units. In each case the items were part of the requirements of the scholarship award, not just thrown in for effect. These are super examples of “personalizing” a scholarship application, but it doesn’t have to be that noticeable.
There were also attempts at personalization not well received, a picture of a girl in a very tiny bikini. The word thong comes to mind. Another included prize ribbons with a request to return them when the judging was over. We had to send them back at our own expense! Another application had an algebra homework assignment inside, oops. We sent that back, too. Her siblings were probably blamed for its disappearance. One application had a Santa Claus hat inside. It came from Alaska. I’m still trying to figure that one out.
Why is personalization so important? Imagine that you are on the committee, sitting around a table with 247 scholarship forms. It is the committee’s job to pick a winner. All of the apps appear to look alike. All things being equal, which one is going to be chosen? It’s impossible to say. But, let’s suppose that one personalized his/her request and made it stand out positively from the rest. Now, someone has taken the time to be bold, inventive and creative. They have made it possible for the scholarship committee to know more about who they are. They are more than a just a piece of paper with a name on it. They have revealed intimate sides to their personalities. Who will win now? The choice is obvious.
Personalize don’t dramatize. Use good judgment and common sense when personalizing. Try to imagine who the people are making up the committee. Then, send in your request knowing that, out of all who sent their forms, you are the one who will win. You are the person who deserves the money.
Planning produces positive outcomes when the scholarship effort is truly a family affair.
Big College Scholarship Bucks are Won in Summer
Posted by admin in College Scholarships on August 31, 2010
Driving to the beach. Visiting the park for an enjoyable picnic. Seeing a baseball game. Calling on the local fishing hole. These are great summertime activities. Other pursuits include painting, cutting the grass and washing
and waxing the car. We look forward to all of them with great anticipation. When the weather gets warm (no doubt about it), thoughts and actions turn to outdoor events.
One activity that gets forgotten by many college-bound students and their families is the inside expedition of hunting for college scholarships, searching for huge scholarship dollars, initiating the quest for money that will significantly reduce or eliminate college debt. This happens for four reasons. First, it is easy to forget because summer is now and scholarships are in the future, the distant future. Second, my child is not smart enough to win a scholarship. So, why bother thinking about it now or ever. A third possibility: our student has no desire to go
to college. Fourth, our family income is too high.
These are all relevant ideas. But, they are all bogus. Here’s why. Summer is the best time to begin scholarship activities because there is no rush to get the job done. One can take time to do everything leisurely and thoroughly. Rushing
creates anxiety and anxiety creates mistakes. The old maxim slow and sure wins the race also applies to going after scholarships.
Some students are slow in developing. The first two years produce mediocre outcomes, while the junior and senior years produce above average results. And, know this, scholarship committees often regard the last two years as more important
than the first two!
Got a seventeen year old that has no intention of getting a post-high school education? Attention, attention, attention: a high percentage of these change their minds. Have you made up your mind to use this summer in a profitable way, a way that could eliminate the need for future minimum wage summer jobs? There was a commercial on television a few years back. The slogan went like this: “You can pay me now, or you can pay me later. The choice is up to you.” By starting right now, this summer, you can cut your college educational bill by $10,000, $20,000 or even $50,000. Use your computer to investigate and sign up for college scholarship information.
Everything in life is a decision, make the right ones today for your college scholarship success.
Financial Aid For College – How To Get Financial Aid For Your Kids
Posted by admin in Financial Aid for College on August 17, 2010
Are your kids headed for college? Are you worried about how to pay for it? Read on for three key things you can do right now to help improve your chances of getting financial aid for college.
You should plan on paying as little as possible out of your own pocket for your children’s education. In fact, your kids should get financial aid or scholarships for college.
But you’re convinced that you make too much. Well, that’s what “they” want you to believe. As it turns out, there are a quite few things you can do to help your kids get financial aid for college after all.
Read on for three things you should start doing right now. They could save you thousands of dollars and mean the difference between a depleted retirement account and a nice big nest egg:
1) Educate yourself
Get the facts, not just the misinformation that the school guidance counselors give you, or the pamphlets from the college financial aid office. It’s not that anyone is trying to pull your leg. It’s just that their resources are very limited. The guidance counselors simply don’t know the alternative solutions. After all, they’re not trained as financial advisors.
It’s up to you to take responsibility for investigating ALL your options. Find out what you need to do to get financial aid and scholarship money.
2) Take action right now
Start taking action right away. It’s crucial to start planning as early as possible. And I’m not talking about savings plans here.
Becoming eligible for financial aid for college may require some careful planning and financial maneuvering — and that can take time. One of the key things you need to do is to turn assets that are counted towards eligibility for financial aid into assets that are not. And what assets might those be? Certain types of life insurance, for example.
Your kids also need time to add certain activities to their schedule, from social service to playing chess to sports to getting involved in leadership activities. You’ll be pleased to know that any of those could pay off in big scholarship money — particularly social service.
3) Get expert help
You already discovered that counting on financial aid officers to help you will only get you in trouble. But did you know that even your regular financial advisor isn’t a sure bet? He may just give you a savings plan that will force you to scrimp and save to pay for your child’s college costs yourself. He might even steer you toward the failed 529 plan. Just say no!
Here’s what to do instead: Find a wealth management advisor who has experience with helping wealthy families get college funding. You’ll need a specialist because most regular financial advisors simply don’t know about all the secrets that are involved in moving your assets out of categories that are counted and into categories that don’t count towards financial aid.
And if you want to find out more about getting financial aid for college, click here and sign up for my next FREE webinar on outside-of-the-box college funding strategies.