Tuesday, March 19, 2013

Which is Which? Student loans or Scholarship

The issue about the rising cost of education is not new for everyone, be it for rich people or for the those just barely earning a living.

However, this is not of so much of a threat for those who want to enter college but are not capable to meet its expenses. This is because of the two choices made available for them, first is the scholarship programs. And the second is the student loans. They may apply to either of the two.

Basically, the scholarship gives off monetary award which do not require the beneficiary to repay it. Unlike the student loan, the money that was lent to the students will be paid after some time with the corresponding amount plus interests.

Hence, it seems to be apparent that taking a scholarship program is more convenient than the student loan. Yet, you should know that both still consists of its advantages and disadvantages.

In scholarship, the students need not worry about finances throughout his college years. Almost thousands of scholarships are made available yearly. The systems of the programs depend on the financial needs of a certain student.

Although, it doesn’t necessarily mean that you are not intelligent because you were not be able to acquire a scholarship. There are various types of scholarship, one is for the intellectuals who acquire and maintain high grades. The other is the specific scholarships designed for the ones who excel in definite fields, for instance, in the field of sports, math, science, music, stage performers and others.

Those who belong in average I.Q. may still win a scholarship. They may not possess the remarkable level of intelligence to win a scholarship, but their talents may secure them one.

Moreover, there are also scholarships designed for certain races, minorities, and other sectors of the society that needs monetary support. And scholarship is not just confined to college students, the students who would want to pursue further study may also benefit. 

There are also several institutions that offer scholarship programs to their members, examples of this are the religious organization and union groups, etc.

Now, if you think you won’t be legible for any scholarship, there is still one option — student loans.

Student loans, as mentioned above is the financial aid given to the students to pay their tuition with the agreement to repay it with the corresponding interests in a given period.

Scholarships do not require for repayment, but student loans do.

The advantage of a student loan is that it will give you freedom to move as a regular student, without the pressure of maintaining high grades and you can do your other activities without thinking of the conflict in the training schedules.

The hassle is when you would consider it, student loans need to be repaid the moment you graduate; you have to pay to the very last cent plus the interests.

If you are the bread winner of your family, paying for it will be another burden though you already have secured a job.

Anyhow, it will depend on you, the important thing is you finish your college education and secure a diploma, be it from a scholarship or through student loans.

The achievement of earning your college education amidst the hindrance of money is the thing you will always be proud of. 

A Rainfall of College Scholarship during the Fall Season

Hispanic students are presented with a number of college scholarships.

Hispanic students along with their families are greeted with a wonderful start in fall when the Hispanic organizations announce that they will be funding guidelines and plans for the entire school year.

This occasion coincide with the time where Hispanic families are conducting their searches for a means to pay the expensive amount of college education for their kids.

Mainly, only the Hispanics that are College bound will be benefited by the said program.

Now, students may go frenzy when selecting which college programs to take, plus also, the number of students who have stopped for a year that are planning to go back to school.

Really, this is not the first time this occurrence has happened. Scholarships are universally popular in providing the disadvantaged and the financially handicapped students an opportunity.

The big Corporations have established themselves in providing scholarships for hispanic students, included here are Coors, General Motors, CNN, MasterCard, Lockheed Martin, Sallie Mae, Wachovia, Office Depot and Time Warner.

But questions may arise. Why do these benevolent companies fund hundreds of thousands of dollars to provide Latino Scholarships? What will they get from these Hispanic students?

The answer is not just confided into one, they support the presented programs for Hispanic scholarship founded by the Latino organizations like the National Association of the Hispanic Journalists, Hispanic Scholarship Fund, Hispanic Association of Colleges and Universities, and National Hispanic Scholarship, majority of them yield from public relations and the positive society results generated by the programs.

For numerous years, the Latinos as a consumer have become progressively more acculturated into America’s lifestyle mainstream. A few of them have fixed a good place in influencing the public and private sectors, while the others adds to the classy consumers.

Part of the development is rooted from the growing awareness of some Latinos who have been ignored to the point of receiving undeserved treatment from lots of companies. This fact goes though since the Census last 2000 mark them as the clients of their goods and services.

Also, the Hispanic purchasing power is rising, for this reason, the conversationalists and the marketers have started to take advantage of the prospects and escalation of the Hispanic markets.

This is because of the estimate of the Multicultural Economy on year 1900-2009 as reported by the Selig Center for Economic Growth ranges to almost $700 billion annually.

Thus, the thousands of dollars funded for Hispanic scholarship is nothing as compared to the purchasing power of these future consumers. Not just that, the scholarship beneficiaries may also join the labor force in the near future.

According to the critics, there is the rising situation wherein the scholarship provided for the Latinos are too much, as fitted to the number of students in need. However, this is countered by the theory that the Hispanic students who graduate and later joins the labor force of the Americans also produces the same program.

But anyhow, the only thing that matters is that the Hispanic students are given more chances to pursue their college education, through the rise of the benefactors and donors.

Meanwhile, the effects will be the same, the Latinos who graduates gives gratitude to the company who have helped them to finish their higher education.

Free College Money from Scholarship and Grants

High school days are usually the time when you can fully enjoy your student life, and after you graduate, it's time for you to go to college. But the truth is, many students are unable to go to college because of certain financial issues. This however, should not hinder you from pursuing higher education. You have options, and all you have to do is to discover what options are available for would-be college students like you.

Having a brilliant career is probably what most students are dreaming about and you can only achieve this if you are able to graduate from college. With all the financial constraints surrounding you, don’t give up easily and check these six options for you to choose from,

1.    scholarships
2.    grants
3.    loans
4.    get a part-time job
5.    join community programs and avail of their services
6.    joining the army

Among these six options, the first two are usually the likely choice of almost any student. You can find scholarships and grants in almost any part of the globe. Perhaps the reason why many students prefer these options is because they don’t have to repay the money that they'll be using through college.

This is truly an advantage compared to acquiring a loan. A loan needs to be repaid at a specific date and time while scholarships/grants are given to students free.

Talk to your high school guidance counselor, because he/she might know of particular institutions or universities which offer college scholarships and grants. Applicants with artistic, athletic, and scientific talents are also given special scholarships especially those who are in need of serious financial resources. Also, check for online databases that cater to college scholarships which the public can browse freely.

Many students may think that a grant is similar to a college scholarship. It is different in the sense that with a grant, you are required to submit a proposal for a possible future project. And if your proposal is quite good, you can find a sponsor which can fund your way through college.

Scholarships on the other hand, are given to students based on their achievements. So, college scholarships are much easier to obtain than grants.

Any way you choose, you still have to meet their standards. And if the institution or university decides that you are a qualified applicant, then that is only the time that you can enjoy the benefits of being a scholar.

When you are finally awarded with a scholarship or grant, be responsible and do everything you can to maintain your good standing in class. Oftentimes, scholarships and grants require you to maintain certain ratings while you're in college. You must also be aware that they can also terminate your scholarship/grant if they see it fit.

The money that you'll get from the scholarship should be used to fund your way to college; like payment of tuition fees and other school fees. Take advantage of your situation and make the most out of your free education. Don’t waste the chance that has been given to you.

The career that you've wanted all these years is just waiting for you. So take chances, life is full of many obstacles; but if you are hardworking, diligent, and patient, you can go through your college life with ease. 

Augmenting Information on College Scholarship

Education is becoming more and more expensive as time unfolds. For this reason, a number of students are applying for scholarships to supplement their financial needs in school.

One good thing is that there are already various scholarships which are made available today to assist these students. There are the government, individuals, non-profit organizations, private organizations, who augment in granting scholarships.

However, not all are familiar on the ways to access information in applying for these scholarships. Basically, the following are the possible resources you can use in finding the process for scholarship application:

First, you can use the search engines in college scholarships.

Try to visit the free sites that link to scholarships research websites and databases. This tool is convenient for most as compared to the others sources since this can save both time and money.

You can just simply match your profile to numbers of scholarships where you think you qualify. Another advantage in using the college scholarship search engines is that it is always updated. Hence, this can have access to the most recent grants and financial aids made free on the Internet.

You can also link to the other sources. You can inquire through the local community and civic organizations, as well as in police departments and local fire department in your area; they might be offering college scholarships.

Also, the majority of the state governments extend financial assistance to in-state students. Hence, you can take advantage to the local assets.

Most often, the best scholarships are offered to students who excel in the fields of writing, science, math, music, sports as such. These types of scholarships although do not require high grades, a GPA of 2.0 will do. They commonly base on the students’ character, conditions and testimonials as to why you feel legible for the scholarship.

Also, do not expect that you can get the full scholarship by simply placing your time and effort only in one or two particular programs.

Keep in mind, that applying for college scholarship is merely a numbers game. So, it is best that you apply for more scholarships to be assured that you will succeed in one or more of them.

Now, after finding your prospective scholarship in either of the mentioned resources, you should then be able to know the process for college application next.

These are the ways to ensure your success in getting a college scholarship:

Search early. Majority of the scholarships are open for a definite time period. The scholarship will close after the process of application, then, you have to wait for another year to file your application again.

When you start your search early, you will not just be able to find the best scholarships; also, you will be able to apply for more scholarships, which will give you more chance of winning or more of them.

Be careful in reading the requirements. Remember, out of the large numbers of the scholarship, only a few of it will suit to your qualification. So, read carefully the qualifications set for the scholarships that you are applying for. And if they do not fit to your qualification, try looking for another one.

Complete the requirements. Just when you start for the application, you must have readied the requirements already. It is not advisable that you will wait for your sponsor to ask you for it before you arrange it.

Most of all, submit your application early, and anticipate that you will be considered as one of the scholars of the sponsor.

Paying for your Child’s College Finances— Guide for Parents on Student Loan, Scholarship, and Grant

Let's suppose that you have a child who will be graduating soon from high school. Of course, you will feel happy, just like any proud parent who have their children graduating from high school. It is one of the challenges of life that you have successfully surpassed, despite of the financial instabilities that you have probably experienced. It is time to celebrate, for you have fulfilled your responsibility of giving your child a bright future.

But as many would say, a high school graduation is not the end. In fact, it is just the beginning of tougher challenges that awaits you and your child in the succeeding years—college education.

At this point, you should start thinking about how you will finance the studies of your college-bound child. With the increasing cost of tuition fees, you need to plan ahead of time to avoid any misfortune, especially if you have experienced how to be financially-needing. You know how hard it is to have both of your hands tied-up against the increasing cost of your child’s high school education before. The sooner you start planning for the college education of your child, the less you will encounter financially-related problems later on.

If you think you will be faced again with financial problems, it is important that you know the different financial aid programs available for your college-bound child. Continue reading and learn the financial aids to lean on to:

•    Grants- it is the first type of college financial aid that you can apply for. It simply requires you to complete a FAFSA (Free Application for Federal Student Aid) form. Once the application has been sent, it will be evaluated and if your child will qualify, he/she will be entitled to the full amount of what he/she qualifies for. At this point, you need not do anything much further except to provide the name of the college or university your child wants to enroll to.

•    Scholarships- although scholarship is commonly intended for students who have the “brains” but do not have the “fortune”, not all college scholarships are bounded to academics. Students who do not have the best academic record can still qualify to other multitudes of college scholarships. There you have the college sports scholarships, community service work scholarships, social involvement scholarships, and others. There are just the different types of scholarships for your child if he is not that talented when it comes to academics.

•    Student Loans- these type of loans have lower interest rates compared to other types of loans. There are instances where the loans are subsidized, which means that the interest does not accumulate until a student finishes college. Furthermore, these loans does not require a collateral, thus you do not have to worry about putting your own home as a collateral against the student loan for your child. Most of these loans are available on a variety of repayment plans at low interest rates and low monthly installment payments.

If you have not started searching for the various financial aid programs available, it is recommended that you start now. These financial aids will help you in the long run and will provide the funds needed for your child’s college education. Get yourself free from financial worries through these aids.