Obama's Funding For Moms

You should not feel that since you are now mom, you cannot study. This is certainly not true. Yes, it is quite true that as a mom, you have a lot of burden on you. But you can still study. This is what our president Obama has pointed out. He has made it quite clear to the authority that they should do something for the moms. He feels that the moms should not be forgotten and they should be rewarded for the pain they bear.
As per the Obama's stimulus plan, around $10000 has been fixed for each mom in America. Thus all the moms are entitled to get this money from the government. Hence, they can now sit back and then continue their study.
It is really quite sad that most of the single moms cannot continue their studies. They have to put their studies on hold. Hence the president Obama has certainly made it quite clear that they are quite important. They need some sort of compensation. We all know that his stimulus program has definitely become quite popular. It has something for all the people. He has not forgotten the mom as well. The amount of $10000 is not a small one. All the moms can use it to pay back their fees and also spend something on their family. In this way she will be able to take care of her studies as well as their families.


There is none other point. However, the survey suggests that most of the moms want to go to their college. We have seen in the past that so many ladies have done such a good thing for the country. You can find young ladies in almost every field. But do you feel that without studies they will be able to do what they are capable of doing. They will definitely not be able to do anything. This is certainly a big concern. If I am not wrong then around 30% of the populations are moms.
All of them are definitely quite capable of doing something extra ordinary. But most of them lack higher education. Generally they are married at the age of 21 and they still lack the higher education. Then question hence arises that how will they be able to continue their studies. This is a very big question and you need to solve it. This is what our president Obama has actually done.

Did you know you can get a $10,000 scholarship for Moms just for registering? Apply right now for free: Scholarships for Moms.

Article Source: http://EzineArticles.com/?expert=Maria_Parker_II

Top 10 Tips for Financial Aid

Tip 1:

Prioritize your efforts, starting with the federal government. Then turn to the private sector for additional assistance. Visit http://financialaidstop.blogspot.com/ to learn about all your funding opportunities.

Tip 2:
Learn all you can about the college financial aid process. Be sure to meet your aid administrator and establish a relationship.


Tip 3:
Submit the Free Application for Federal Student Aid (FAFSA) at fafsa.ed.gov, even if you don’t think you qualify for aid. Being rejected for federal aid is sometimes a prerequisite for private awards. Submit the FAFSA even if you didn’t qualify last year, as criteria change every year.

Tip 4:
Apply for aid as soon as possible after January 1. Do not wait until you’ve filed your taxes or been admitted. The early bird always gets the worm — and sometimes the scholarship!

Tip 5:
Inform financial aid administrators about atypical expenses or unusual financial circumstances. Certain adjustments may be made to assist you.

Tip 6:
Take advantage of tuition prepayment discounts. Some colleges offer up to a 10% discount for early payment.

Tip 7:
Money from grandparents should be paid in your name directly to the school. This avoids gift tax liability. But sometimes it is better for grandma and grandpa to wait until after you graduate to help you pay off your student loans, since money paid directly to the college may reduce your need-based aid eligibility. See Why Your Grandparents Could be Your Meal Ticket to College for other advice for grandparents.

Tip 8:
Investigate company-sponsored tuition plans. Many employers will invest in the education of their employees.

Tip 9:
Apply! You can’t win awards or receive funds for which you do not apply, so pay attention to deadlines.

Tip 10:
Use free scholarship matching services like FastWeb at www.fastweb.com to help you find the private sector assistance you need!

Stafford Loans (FFELs and Direct LoansSM)

In addition to Perkins Loans, the U.S. Department of Education administers the Federal Family Education Loan (FFEL^SM) Program and the William D. Ford Federal Direct Loan (Direct Loan) Program. Both the FFEL and Direct Loan programs consist of what are generally known as Stafford Loans (for students) and PLUS Loans for parents and graduate and professional degree students.

Schools generally participate in either the FFEL or Direct Loan Program^SM but sometimes participate in both. Under the Direct Loan Program, the funds for your loan come directly from the federal government. Funds for your FFEL will come from a bank, credit union, or other lender that participates in the program. Eligibility rules and loan amounts are identical under both programs, but repayment plans differ somewhat.

How can I get a FFEL or Direct Loan?

For either type of loan, you must fill out a FAFSA^SM. After your FAFSA is processed, your school will review the results and will inform you about your loan eligibility. You also will have to sign a promissory note, a binding legal document that lists the conditions under which you're borrowing and the terms under which you agree to repay your loan.

How to Choose and Evaluate Lenders

You'll need to choose a lender if you obtain a FFEL Stafford Loan. (If you have a Direct Stafford Loan, the federal government through the U.S. Department of Education is your lender.) Schools that participate in the FFEL Program will usually have a list of preferred lenders. Student loan borrowers may choose a lender from that list, or choose a different lender they prefer (for example, a credit union). Here are a few things to think about when selecting a FFEL lender.

How much can I borrow?

It depends on your year in school and whether you have a subsidized or unsubsidized Direct or FFEL Stafford Loan. A subsidized loan is awarded on the basis of financial need. If you're eligible for a subsidized loan, the government will pay (subsidize) the interest on your loan while you're in school, for the first six months after you leave school, and if you qualify to have your payments deferred. Depending on your financial need, you may borrow subsidized money for an amount up to the annual loan borrowing limit for your level of study (see below).
You might be able to borrow loan funds beyond your subsidized loan amount even if you don't have demonstrated financial need. In that case, you'd receive an unsubsidized loan. Your school will subtract the total amount of your other financial aid from your cost of attendance to determine whether you're eligible for an unsubsidized loan. Unlike a subsidized loan, you are responsible for the interest from the time the unsubsidized loan is disbursed until it's paid in full. You can choose to pay the interest or allow it to accrue (accumulate) and be capitalized (that is, added to the principal amount of your loan). Capitalizing the interest will increase the amount you have to repay.
You can receive a subsidized loan and an unsubsidized loan for the same enrollment period as long as you don't exceed the annual loan limits.
If you're a dependent undergraduate student (excluding students whose parents cannot borrow PLUS Loans), each year you can borrow up to:

• $5,500 (for loans first disbursed on or after July 1, 2008) if you're a first-year student enrolled in a program of study that is at least a full academic year. No more than $3,500 of this amount can be in subsidized loans.
• $6,500 (for loans first disbursed on or after July 1, 2008) if you've completed your first year of study and the remainder of your program is at least a full academic year. No more than $4,500 of this amount can be in subsidized loans.
• $7,500 (for loans first disbursed on or after July 1, 2008) if you've completed two years of study and the remainder of your program is at least a full academic year. No more than $5,500 of this amount can be in subsidized loans.

If you're an independent undergraduate student (and a dependent student whose parents have applied for but were unable to get a PLUS Loan (a parent loan)), each year you can borrow up to:

• $9,500 (for loans first disbursed on or after July 1, 2008) if you're a first-year student enrolled in a program of study that is at least a full academic year. No more than $3,500 of this amount may be in subsidized loans.
• $10,500 (for loans first disbursed on or after July 1, 2008) if you've completed your first year of study and the remainder of your program is at least a full academic year. No more than $4,500 of this amount may be in subsidized loans.
• $12,500 (for loans first disbursed on or after July 1, 2008) if you've completed two years of study and the remainder of your program is at least a full academic year. No more than $5,500 of this amount may be in subsidized loans.

If you're a graduate or professional degree student, each year you can borrow up to:

• $20,500. No more than $8,500 of this amount may be in subsidized loans.

When you graduate with a graduate or professional degree, the maximum total debt allowed from Stafford Loans is $138,500. No more than $65,500 of this amount may be in subsidized loans. This maximum total graduate debt limit includes Stafford Loans received for undergraduate study. However, the aggregate loan limit for graduate and professional students enrolled in certain approved health profession programs is $224,000. These amounts are the maximum yearly amounts you can borrow in both subsidized and unsubsidized FFELs or Direct Loans, individually or in combination. Because you can't borrow more than your cost of attendance minus the amount of any Federal Pell Grant you're eligible for and minus any other financial aid you'll get, you may receive less than the annual maximum amounts.

How will I get the loan money?

For both the Direct Loan and FFEL programs, you'll be paid through your school in at least two installments. No installment may exceed one-half of your loan amount. Your loan money must first be applied to pay for tuition and fees, room and board, and other school charges. If loan money remains, you'll receive the funds by check or in cash, unless you give the school written authorization to hold the funds until later in the enrollment period.
Generally, if you're a first-year undergraduate student and a first-time borrower, your school cannot disburse your first payment until 30 days after the first day of your enrollment period. This practice ensures you won't have a loan to repay if you don't begin classes or if you withdraw during the first 30 days of classes.
A school with a cohort default rate of less than 10 percent for each of the three most recent fiscal years for which data are available are not required to delay the delivery or disbursement of the first disbursement of a loan for 30 days for first-time, first year undergraduate borrowers.

What's the interest rate?

For all unsubsidized Stafford loans first disbursed on or after July 1, 2006, the interest rate is fixed at 6.8 percent. The interest rate for subsidized Stafford loans first disbursed on or after July 1, 2009 is fixed at 5.6 percent. This change from a variable to a fixed interest rate does not affect a borrower's variable interest rate on loans made before July 1, 2006.
For Stafford Loans first disbursed between July 1, 1998 and June 30, 2006, the interest rate is variable (adjusted annually on July 1st) but will not exceed 8.25 percent. (You'll be notified any time the variable rate changes.) The interest rate for these loans in 2009-10 is 2.48. (These rates apply to loans in repayment status; the rate may be lower during grace and deferment periods.)

Interest Rate Reductions

Over a four-year period beginning July 1, 2008, the interest rate on subsidized Stafford Loans made to undergraduate students will be reduced. The applicable interest rates for loans made during this period are as follows:

First disbursement of a loan:		Interest rate on the unpaid balance
Made on or after	And made before
July 1, 2009	July 1, 2010	5.6 percent
July 1, 2010	July 1, 2011	4.5 percent
July 1, 2011	July 1, 2012	3.4 percent

These changes apply to subsidized Stafford loans first disbursed on or after July 1 of each year through June 30 of the next year. This change does not affect any prior loans made to borrowers; the terms and interest rates of those loans remain the same. These reduced interest rates apply only to subsidized loans; any unsubsidized Stafford Loan for the same undergraduate borrower would continue to be made at the current fixed interest rate of 6.8 percent.

Other than interest, is there a charge for this loan?

For Stafford Loans that are first disbursed between July 1, 2009 and June 30, 2010, there is a fee of up to 1.5 percent of the loan, deducted proportionately from each loan disbursement. For a FFEL Stafford Loan, a portion of this fee goes to the federal government, and a portion goes to the guaranty agency (the organization that administers the FFEL Program in your state) to help reduce the cost of the loans. For a Direct Stafford Loan, the entire fee goes to the government to help reduce the cost of the loans. Also, if you don't make your loan payments when scheduled, you may be charged collection costs and late fees.

New interest rate cap for Military Members

Interest rate on a borrower's loan may be changed to six percent during the borrowers active duty military service. This applies to both FFEL and Direct loans. Additionally, this law applies to borrowers in military service as of August 14, 2008.
Borrower must contact the creditor (loan holder) in writing to request the interest rate adjustment and provide a copy of the borrower's military orders.

When do I pay back my Stafford Loans?

After you graduate, leave school, or drop below half-time enrollment, you will have a six-month "grace period" before you begin repayment. During this period, you'll receive repayment information, and you'll be notified of your first payment due date. You're responsible for beginning repayment on time, even if you don't receive this information. Payments are usually due monthly.
During the grace period on a subsidized loan, you don't have to pay any principal, and you won't be charged interest. During the grace period on an unsubsidized loan, you don't have to pay any principal, but you will be charged interest. You can either pay the interest or it will be capitalized (added to your principal loan balance, thus increasing the amount you'll repay).

How do I pay back my loans?

You'll repay your FFEL Stafford Loan to a private lender or loan servicer. You'll repay your Direct Loan to the U.S. Department of Education's Direct Loan Servicing Center. Both the Direct Loan and FFEL programs offer four repayment plans you can choose from, but the terms differ slightly. You will receive more detailed information on your repayment options during entrance and exit counseling sessions your school will provide.

What if I have trouble repaying the loan?

Under certain circumstances, you can receive a deferment or forbearance on your loan, as long as it's not in default. During a deferment, no payments are required. You won't be charged interest for a subsidized FFEL or Direct Stafford loan. If you have an unsubsidized Stafford Loan, you are responsible for the interest during deferment.
If you're temporarily unable to meet your repayment schedule (for example due to poor health or other unforeseen personal problems), but you're not eligible for a deferment, your lender might grant you forbearance for a limited and specified period.

Can my Stafford Loan ever be discharged (canceled)?

Yes, but only under a few circumstances. Your loan can't be canceled because you didn't complete the program of study at the school (unless you couldn't complete the program for a valid reason the school closed, for example), or because you didn't like the school or the program of study, or you didn't obtain employment after completing the program of study.

How to ask for more financial aid

Focus on Financial Aid

Is there such a thing as negotiating your financial aid award package? Yes and no. No in the sense that your school’s financial aid office is not like a car dealership with a dean of admissions in the back room who will give you the manager’s Wednesday special. Yes in that if you can prove beyond question that your financial need and circumstances are greater than what’s provided via the usual financial aid paperwork like the FAFSA, schools can be flexible.

Before we get started, I recommend strongly reading this article on StudentLoanNetwork.com about how to read a financial aid award letter.

Get Your Budget In Order

If you don’t use any kind of personal finance software, be it a desktop application like Quicken or a web-based application like Wesabe, Mint, or Geezeo, I strongly recommend starting with one. The web-based applications are free, so if you’re trying to save money from every angle, start with one of those.

Start by importing any electronic records of your finances and your family’s finances for at least 90 days. You’ll want to take the time to categorize your expenses in terms of mandatory and discretionary, followed by breaking them out into individual categories, like mortgage or rent, utilities, etc.

Once you’ve got your budget broken out, you’ll want to compare it against your award letter, especially looking at what kind of discretionary income you have compared to the expected family contribution, or out of pocket expenses. If your EFC from your award letter divided by 12 (for what’s essentially a monthly EFC) is greater than your discretionary expenses budget (dining out, entertainment, etc.) then you’ve got a good starting point for a conversation about what you can and cannot afford.

Get All Your Paperwork Together

If you’re going to be asking for more financial aid based on changed economic circumstances, have ample paperwork available to back up your claims and requests. Did someone lose a job in the family? Have termination notices, unemployment insurance, or other papers ready. Did your income change? Use any of the budgeting software described above to graphically illustrate your monthly cash flow, along with things like pay stubs, tax returns, etc.

Know What To Ask For

It’s not enough to ask for more money. That’s way too generic. Ask for specific amounts, ask for specific assistance, and try to know some of the different types of things financial aid administrators are permitted to do. Financial aid administrators are permitted to make professional judgement overrides on:

- dependency. If you can prove that you are an independent student due to the involuntary dissolution of your family (i.e. parents in jail, social services removed you from the home due to abuse, etc.) a financial aid administrator can override the dependency requirements for undergraduate students, letting you complete the FAFSAand other financial aid paperwork without parental income information.

- future earnings and income. If you can prove that you or your family has had a significant change in income that impacts your ability to pay for college, a financial aidadministrator can grant you more assistance. Be prepared with termination notices, tax returns, and every scrap of paper you can find to make your case.

Updated April 2, 2009: The Department of Education has offered additional guidance for this scenario. See this post at FinancialAidNews.com about the changes.

- cost of attendance. If you can prove that expenses in your student budget (transportation, medical, disability, dependents, and a few other select cases) do not reflect your situation, a financial aid administrator can alter your student budget, allowing for additional aid. If you pursue this override, again, be prepared to document every step of the way to show why, for example, traveling to and from your school requires a transportation budget greater than allotted.

- special circumstances. In some cases, parents divorce during the financial aid award year, but the FAFSA cannot be changed to reflect the divorce. With appropriate court documentation noting the dissolution of the marriage, a student can ask for a special circumstances override that will let them use the income of the custodial parent.

There are other, more narrow circumstances that apply as well. If you don’t know what to ask for, haul as much documentation to your financial aid administrator as possible so that they have as complete a picture of your finances as possible.

Be Polite

The single thing that will do the most good or harm in getting additional aid is how you approach the financial aid office. The best time to approach them is before you need their help, as is the case with virtually all professional networking. Stop by from time to time casually, and say hello. Ask if there are any new scholarships that have been posted. Check in. If you find a scholarship that you’re not eligible for but other students at your school might be, let someone in the office know about it so it can be posted in the office. If you want a real education in financial aid, apply for a work study job in thefinancial aid office.

If you know your parents are, shall we say, less than diplomatic, then try to mediate any discussions with the financial aid office so that overly aggressive or insistent requests don’t harm your chances of getting help.

Check Your School For Scholarships

One of the tips in our Scholarship Search Secrets eBook talks about using keywords for finding scholarships in Google. Another tip is to restrict your search to your school’s web site using the site: restrictor. Go to Google.com and try out this search:

scholarship site:yourschool.edu

For example, if I wanted to search for scholarships at Franklin & Marshall College, I’d type:

scholarship site:fandm.edu

This restricts the search only to F&M, showing scholarships for this particular school. I’d bet that the financial aid staff at F&M probably know about half of these – and even the individual professors in the departments awarding the scholarships may not necessarily know about them.

Try it at your school to see what’s lurking on the college’s web site that could help you pay.

Ask!

Above all else, ask. Ask politely, ask frequently, but ask. There’s an old joke about God and winning the lottery:

One Sunday, Shane walks into a church and kneels down at the altar and begins to pray to God, stating that he owes many people money and asks to win the lottery. After he is done praying, he gets up and walks out. The next Sunday he goes to the same church and pleads with God through his prayers to let him win the lottery so that he can pay these people back.

The next Sunday comes around and Shane enters the church very upset and close to tears, he kneels at the alter and asks why God is doing this to him and say’s that he has asked to win the lottery for three weeks now and nothing. Suddenly there came a loud bang of thunder and God spoke, “Shane, meet me halfway: Buy a bloody ticket.”

If you don’t ask, you’ll never get the opportunity for more financial aid. Schools andfinancial aid offices are swamped right now with people needing additional help – make sure you ask for help if you need it!

College Scholarship Application Process

The process for applying for college scholarship is virtually similar to applying for college. First, you have to learn as many scholarships grants as possible and create a shortlist of possible prospects that fit you and your need. Then, you create the most compelling application letters or essays that state your achievements together with interviews and other supporting letters such as recommendations. And finally, if you are lucky enough, you can go to college for less or for free.
Mentioned above is the ideal way of winning college scholarship, however, the task is still yours if you want to succeed winning your most wanted tool towards the degree. So to increase your chances of success, here are ways you can do:


Start your search early. Most scholarships are only open for a specific time period. After the application process closes, you have to wait for another year to file your application. Starting your search early would not only give you better chances of finding the best scholarship awards that suite you, it also gives you better chances of applying for several scholarships that in turn give you better chances of winning a scholarship.
Read the requirements carefully. It must be remembered that among all the scholarships available, there are only few that would suite you. To know this, read carefully the requirements including the eligibility standards of the scholarship you want to apply. If you find out that you do not fit, search for another one.
Do not apply if you do not qualify. Since it is assured that your application will be taken for granted, applying for a Scholarship that you don’t fit it is a complete waste of time.
In the events that there are things that should be clarified, never hesitate to contact the scholarship sponsor.
Complete your requirements. While you are searching for college scholarship, you must already be preparing the requirements. Never wait for the sponsor to ask before you prepare the requirements.
Write a compelling application essay. It does not mean that you dramatize your life story. It means that you convince your “would-be” sponsor that you need the scholarship more than anyone else. You should also fill up the application with honesty and sincerity. Never write false information just to pass the application process.
After all these, don’t forget to submit your application early and hope that the sponsor would consider you as one of their scholars. Good luck!
Low Jeremy
http://www.articlesbase.com/advertising-articles/college-scholarship-application-process-58595.html

foxyroxy Says:
September 17th, 2009 at 8:20 pm college application and scholarship process?
im not to sure of what i want to be when i grow up..im a sophomore in hs. right now but i feel like i should know and i feel as if i should like maybe be applying for scholarships already. so is it to early to start applying or how old where you when you started applying?

Lovelystar Says:
September 18th, 2009 at 1:22 am OMGosh lol. I feel the same way and im a sophmore too. But I know what I wanna be though. Well, I dont think its too early. Remember, HS years fly and by the time were juniours we’ll be ready to apply to colleges anyways so, its not bad to prepare ahead of time
References :
Same way

Miko Says:
September 18th, 2009 at 1:24 am careers.scienceontheweb.net – try this site. It has info about different US scholarships for college students and their grades requirements.
References :