Found this wonderful article and I just had to share it.
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How Military Families Can Save Money on College
By Karen Von Der Bruegge, Chief Marketing Officer for Pioneer Services, A Division of MidCountry Bank
Even if you’re still buying diapers and baby formula for your child, the thought of sending your little one off to college has probably crossed your mind at some point. It may also cause you some stress since, according to www.collegeboard.com, annual tuition can range between $5,000 a year for a public four-year university, to more than $20,000 for a private college.
But before deciding how—or even if—you’re going to help pay for those costs, it’s good to look at the numerous ways to pay for college. From tax-deferred savings plans, to grants, to scholarships, there are many different ways to send your little one to the quad without having her saddled with a mountain of debt afterward.
Start early with a 529 Plan
A 529 Plan is named after the section of the federal tax code that covers such deductions, and allows you to save pre-tax money to pay for college tuition. This money is, in turn, put into some type of investment that earns interest, allowing your money to grow.
Every state has at least one version of a 529 Plan, and all of them have features that make them a great savings tool:
The money you invest is set aside tax-free
You can withdraw money from the fund for qualified education expenses, also tax-free
You take advantage of compounded interest, giving you more money in the long run
Different types
There are two basic 529 plans, but some states (such as Arizona) offer as many as four varieties. Each of these offers different benefits, restrictions and methods of paying for college.
Prepaid Tuition Plans
These plans allow you to save for a college or university in a specific state. The advantage is that the cost of tuition is locked into the rate charged when you open the plan. With tuition costs continuing to rise, this is a good way to hedge against those raises. The money is also transferable to another family member without tax penalties if your child decides not to attend college.
The disadvantage of the prepaid tuition plan is that most of the states have some type of residency requirement—either you or the child for whom you are saving must be a state resident. If the state does not have a residency requirement, then you might not be eligible for a break on state taxes. This can be quite difficult for military families due to frequent moves and the generally mobile military lifestyle.
To find out your “state of residence” (which may not be where your family is currently stationed) is the one you selected on DD Form 2058, and also appears on your LES.
College Savings Plan
These plans differ from prepaid plans in a number of ways, but the main one is that a savings plan accrues much like a retirement savings plan—the money you contribute is invested in mutual funds and can increase as the stock market increases. And since this is a long-term savings plan, the chances of it increasing in value are very good since it won’t be affected by temporary fluctuations in the market.
The advantage to this type of plan is that you can use it for higher education in any state. Most have no residency requirement—if you lived in Georgia, you could contribute to a plan in Michigan and send your kids to school in Oregon. However, there are a few states (such as South Dakota) that require residency in all cases. Another advantage is that you can use the money for your own education, or that of other family members.
The disadvantage is that, if you choose to use an out-of-state plan, you may not receive the full tax advantages offered by an in-state plan. Also, the state or federal government does not insure your 529 investments in any way, so be aware that there is a possibility of the fund losing money.
Similar traits
All 529 plans have a few things in common:
Beneficiaries
The College Savings Plan Networks notes that “anyone can be named the beneficiary of a 529 account, regardless of their relationship to the person who establishes the account. You can even establish an account with yourself as the named beneficiary.” This allows you to save for anyone at any time, just so long as they are “a U.S. citizen or a resident alien” and “have a social security number or federal tax identification number.” You can also have multiple 529 accounts for a single person.
If your child decides not to attend college, you can change the beneficiary and transfer the funds, so long as it is transferred to a family member. You can also withdraw the money for non-education purposes, but any earnings will be taxed, and some plans have penalties for doing so.
Contributors
Anyone can contribute to a 529 plan—grandparents, cousins, friends, even companies and non-profits. This can lead to many opportunities to save, since people can make a donation in lieu of a present at a birthday and contribute to other family members.
Tax implications
You will not be taxed when you withdraw the money for educational costs, nor are funds from investments in the plan taxed. But contributions are not tax deductible.
To find a listing of the 529 plans offered where you live, and more detailed information, visit www.collegesavings.org, or www.savingsforcollege.com; both have a state-by-state listing of the plans available.
Scholarships can be plentiful
While your child may be able to get traditional athletic or academic scholarships, there are literally thousands of scholarships available just for military families. Private and public companies, non-profits, and even the Department of Defense offer scholarships for service members, their spouses, and their children. Even students that have a lower grade point average or test scores may qualify for scholarships that encourage them to continue their education beyond high school.
Where to start
The first and perhaps easiest place to find scholarships is the Internet. A simple Google search can yield more results than you can realistically sort through, so try to be as specific as possible with your terms to start.
For example, if your spouse is U.S. Army officer at Fort Hood, Texas, and you’re searching for scholarships for your daughter, try “scholarships for daughters of U.S. Army officers in Texas” rather than just “Army scholarships” since the first is more likely to generate the results you want than the second. Take your time, make a thorough search, and be sure to bookmark any sites that fit your profile.
You can also go through the appropriate military relief agency, military non-profit (i.e. AUSA) and even the commissary system, which has one of the most popular military scholarship programs (found at www.militaryscholar.org).
Tips on applying
Every scholarship will have different criteria, whether branch of service and school, to race, gender or nationality. Some are very specific, while others are more general. The key is to double check all of the criteria and know the exact requirements—the last thing you want to do is spend time filling out an application and collecting paperwork, only to find your child doesn’t qualify.
It’s also important to apply for as many scholarships as you can (keeping the criteria in mind) to ensure you’re getting as much as you can. Again, though, make sure to read the fine print carefully to ensure there are no rules that may limit your access to other scholarships. For example, one may have some sort of requirement about only paying for room and board, yet you already have that covered with another scholarship.
Whether your child’s entire schooling is paid for through scholarships, or if you’re just applying for a few hundred dollars, it’s more than worth the effort.
Federal financial aid
The federal budget always includes several billion dollars in financial assistance. To receive it, however, you must first carefully complete the Free Application for Federal Student Aid (FAFSA) form and include all the required information. Students can pick up a copy of the FAFSA form from the high school counseling office, or from the college financial aid offices. You can also download them, or even complete them online, at www.fafsa.ed.gov.
Because financial aid is distributed on a first-come, first-serve basis, it is critical you submit the form as soon as possible after January 1, during your child’s senior year in high school. Once your student’s FAFSA form is reviewed, he or she will be sent a Student Aid Report that outlines the types of government financial aid available based on the information submitted.
To find complete information about the federal financial aid process, visit www.students.gov.
Other places to look
If you decide to apply for financial aid, you and your child should pay a visit to your child’s high school guidance counselor. They will have a current listing of available scholarships and grants. These professionals are experts in the college application process and can provide assistance with the application. If necessary, they can also review essays and provide computer time. Be sure to check back with the counselor often, as updates to available scholarships are frequent.
You can also visit a college financial aid office, even if it is not the college your child plans to attend. College financial aid offices can be a great help in finding the best financial aid. In addition, your spouse’s workplace, civic clubs, not-for-profits and other organizations may offer money for college.
Just remember that there are many untapped scholarship and grant dollars just waiting to be had by those willing to do the research. And with the rising costs of college tuition, every dollar counts.
Scholarships and aid resources on the Web
There are many sites that can help you track down money to help pay for a college education.
➢ www.militaryhelp.org—A large, comprehensive listing of military-specific links to educational resources.
➢ www.students.gov—A portal into federal dollars for education, information about employment, and other issues concerning students
➢ www.pueblo.gsa.gov—Helpful Information about 529 plans.
➢ www.collegboard.com—General information about college costs.
➢ www.salliemae.com—The largest provider of student loans in the country.
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Related ISaveYousave.org posts:
Collosus College Expenses
Local Scholarships
Google Your Way to Scholarship
Showing posts with label Expenses. Show all posts
Showing posts with label Expenses. Show all posts
16.6.09
Colossus College Expenses
As a parent, it weighs on your mind what will happen when free education calls it quits. What will you do to pay for your child’s college tuition? It is stressful and worrisome for just about any parent that has dreams of their child going off to college to become a doctor…a lawyer or something else. Saving for college is a big decision and it is something that we must take into consideration.
My Child Will Get A Scholarship
Many parents think that a scholarship is the best way for them to pay for their child’s education. Today, there are all types of scholarships available ranging from local scholarships to the school’s themselves taking on the child without any cost to you. The problem is that although this number of programs has gotten higher, so has the number of students that are now enrolled in college. That means that there is still only a small portion of students getting a “free ride” through school. Even if your child does get a scholarship, it probably will not cover the total cost of their education and needs.
The next thing to consider, then, is the cost of sending them to school. There is no doubt that this price tag will continue to grow and that means an increased number of students that need to find the funds somewhere. Most students that do not have funding for their education through their parents will get student loans and grants to help subsidize their costs. While this is a choice for most students, it is one that comes with a finance charge at the same time. That means that your child’s graduation always comes with a price tag that puts them in debt right off the bat.
If it sounds frustrating and stressful, you are not alone. The process of sending your student to school is one that is likely to cost you a decent amount of money. Yet, funding it is something that all parents have to think about in some way. Saving for college may be something that you have to do. If it is, there are programs and services that can help you to make that happen. The longer that you wait, though, the more costly it will become to you.
Saving for college presents a wide variety of saving vehicles that you can use. You don't need to be told how costly college will be, and unfortunately it will keep getting more expensive. In the next years, college education just continues to become more and more expensive. Starting to save today is the best way for you to possibly have the funds needed to make sure he or she gets the education that they need.
Crunching the numbers can be very difficult,but, you have to do it. For your child’s sake, make your first step figuring out the overall cost of the child’s educations. There are easy to use financial calculators available to help you. What you want to do is to insure that the college savings is enough. All you need to do is enter your child’s age, the type of school he will likely attending and the various factors that play a role. Out comes a large number, the cost of college that you need to save for.
What You Need To Consider
Now that you have an idea of the cost, you can begin to figure out just how you will save for it. There are several things to consider when it comes to college savings vehicles. Obviously, you want the best and safest method to saving for college available to you. Here are some things to consider about the type of savings you plan to use.
• How much time before your child starts college.
• The growth of the savings vehicle. How much does this type of savings plan grow per year? What potential does it have for you?
• Who owns and controls the funds? How are your investment dollars invested?
• What are the fees and costs of using this savings vehicle to you?
• What about taxes? Are the funds taxable prior to investing, while earning money or when the funds are withdrawn?
• What is your risk level? How likely is it that you will lose it all?
• Is the plan easy to manage? Can you make changes to it as you see fit when you see fit?
Take the time to consider several methods to saving for college. Which methods are the best choices for you and for your child? The safety of your funds is important. Getting the most that you can for your investment dollars is also important. Although it is stressful to find the right solution, once you do make a choice, you will know that it is the right one if you have completed this research. Remember the sooner you START the easier it will be!
Upromise
I just signed up for Upromise. They have devised a way of linking your Upromise account to your club cards at major supermarkets, debit cards and credit cards. When you spend money at their partners or just use your cards, you earn money for college. It doesn't matter if you have already been. You can register your student loans and use the rewards you earn to pay off student loans. They also offer a Citibank credit card which also helps you save.
You can even earn money when you eat if you eat at affiliated restaurants. Why not? You have to eat to live. It's been a nice suprize when I have been out to eat to see a surprise bonus on my Upromise account.
Looking to purchase a home in the near future? If you use their affiliated realtors, they contribute $3000 back to you! What? Buy a condo and pay off your loans in part? Fantastic!!
You can invite other family to register their credit cards online--aunts, uncles, older brothers and sisters, family friends...the list goes on.
Don't miss out! Visit Upromise today!
529 Plan
A fabulous way of saving for college! Don't have student loans yet? Upromise can also link to a 529 plan. Pre-tax contributions can also be made from a paycheck--just like a retirement account. This includes parent contributions or a student's jobs before or even during college. A 529 Plan has another benefit over a regular savings account. The government does not tax the interest you earn in a 529! This means even more money for college!
Fidelity.com offers a College Rewards American Express credit cards that links directly to a 529 account if you have one with them. They give 1.5% cash back rewards straight into your account!
Vanguard.com offers a 529 account through Upromise. It makes the application process easier because all of your information is in their system.
The best thing is to find a 529 administered by your state. You can also search 529 and your state. What are you waiting for?? Start saving today!
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Now playing: Lifehouse - Whatever It Takes
via FoxyTunes
5.5.09
Justifiably Finals...
Its that time again folks! The entire semester is culminating into one week and after that week SWEET MERCIFUL FREEDOM! Well until Summer semester starts up again. But don't head off to the bars just yet to celebrate your inevitable success on this hellish week.
We make informed purchases, budgeted purchases under normal circumstances, but through in a handful of stress and those well-mannered shopping skills get thrown away. They are inevitably replaced with "justified" purchases.
A "justified" purchase is when you compromise your budget or your plan to allow certain outside factors to infect your spending trends. I stayed in all week and ate only ramen... I'm going out this weekend and having fun because I saved so much money! While I'm the number one supporter of having fun, spending money to reward yourself for saving is a recipe for disaster. You save money during the week, you spend most of what you saved over the weekend, you wake up monday and feel like a failure.
And when you feel like a failure, you --unfortunately-- begin to act like a failure. I spent all the money I saved, gosh I feel bad... Starbucks! That'll cheer me up. And quickly your "justified" spending over the weekend leads way to more "justified" spending. I've already failed at saving, won't matter if I buy this grande cinnamon dulce latte with extra whip... I've already failed. And pretty soon you've compromised your budget completely nearly undoing everything you've saved for.
Mind you, this is an extreme example, but to tell you the truth, this is how I was just last year. I didn't have a handle on my finances. I was more comfortable with feeling horrible about my three or four overdraft charges eating up my paycheck and wasting the rest away on spending that didn't help me at all, than sitting down and getting my act together.
Money is a scary thing. When you have it, you want things. When you don't have it, you want more things. When you've never had it, you want very little.
The very little being the bare necessities: food, shelter, utilities, etc.
So if you were able to relate to past me, in my above upper monologue, than you need to make an executive decision: continue justifying your failures and pay the bank or start making a plan to pay yourself.
My failproof plan for paying yourself:
1.) People with less, want less, or at least want on a smaller scale. Take care of your basic living essentials (basic does not involve catalogs, websites, or the mall) first. Perfect your budget so you are only buying what you need instead of what you want.
2.) Sit down with your credit card bills and your debt and make a plan. The snowball effect works wonders, Powerpay.org sets your balances up to be paid highest interest first. Read my first posts.
You may be fearful of where to start, don't worry, being overwhelmed is a sign that you're on the right track. I was fortunate enough to be in a position where I could pay a little to each debt monthly until my little bites turned into complete gobbles. Going from eight debts down to two has been a great achievement of mine, so I know that eliminating debt will make you feel wonderful about yourself. ITS TRUE! YOU'RE NOT A FAILURE!
3.) Eliminate justified thinking. I think that the savings gurus have been too far gone from the days of wallowing helplessly in a debt cycle to truly understand how people will react when they say "treat yourself... you've done a good job!". While I'm all for positive reinforcement, I think that "treat" should be defined and should be an informed decision. Treating to the gurus includes: going to the movies, buying a new shirt, going to the coffeehouse, buying ice cream, etc... But honestly, those are all things that could be detrimental to a budget or plan when taken from a justified purchase state of mind. Going to the movies does not mean go to the movies with three of your friends and buy a combo a piece. Buying a new shirt does not mean designer label. Coffeehouse does not mean the largest size most expensive drink with a pastry on the side. Ice cream... well that one might be safe. The point is you've been going at your saving from an informed state-of-mind, make sure that any "treats" you feel you've earned are still within that state of mind. No sense in setting yourself backward so you can have that new Coach bag.
4.) Whatever is left over after paying for your bills and contributing to your debt, should be cut in half. Use one half to pay yourself by depositing into your savings account, the rest to spend on your basic essentials (food, clothing, school etc.) If its not enough money than you have two options available: Make more money or Spend less money.
It may not be failproof and it may not work for you, but its my plan and I'm done settling and I'm happy paying myself.
We make informed purchases, budgeted purchases under normal circumstances, but through in a handful of stress and those well-mannered shopping skills get thrown away. They are inevitably replaced with "justified" purchases.
A "justified" purchase is when you compromise your budget or your plan to allow certain outside factors to infect your spending trends. I stayed in all week and ate only ramen... I'm going out this weekend and having fun because I saved so much money! While I'm the number one supporter of having fun, spending money to reward yourself for saving is a recipe for disaster. You save money during the week, you spend most of what you saved over the weekend, you wake up monday and feel like a failure.
And when you feel like a failure, you --unfortunately-- begin to act like a failure. I spent all the money I saved, gosh I feel bad... Starbucks! That'll cheer me up. And quickly your "justified" spending over the weekend leads way to more "justified" spending. I've already failed at saving, won't matter if I buy this grande cinnamon dulce latte with extra whip... I've already failed. And pretty soon you've compromised your budget completely nearly undoing everything you've saved for.
Mind you, this is an extreme example, but to tell you the truth, this is how I was just last year. I didn't have a handle on my finances. I was more comfortable with feeling horrible about my three or four overdraft charges eating up my paycheck and wasting the rest away on spending that didn't help me at all, than sitting down and getting my act together.
Money is a scary thing. When you have it, you want things. When you don't have it, you want more things. When you've never had it, you want very little.
The very little being the bare necessities: food, shelter, utilities, etc.
So if you were able to relate to past me, in my above upper monologue, than you need to make an executive decision: continue justifying your failures and pay the bank or start making a plan to pay yourself.
My failproof plan for paying yourself:
1.) People with less, want less, or at least want on a smaller scale. Take care of your basic living essentials (basic does not involve catalogs, websites, or the mall) first. Perfect your budget so you are only buying what you need instead of what you want.
2.) Sit down with your credit card bills and your debt and make a plan. The snowball effect works wonders, Powerpay.org sets your balances up to be paid highest interest first. Read my first posts.
You may be fearful of where to start, don't worry, being overwhelmed is a sign that you're on the right track. I was fortunate enough to be in a position where I could pay a little to each debt monthly until my little bites turned into complete gobbles. Going from eight debts down to two has been a great achievement of mine, so I know that eliminating debt will make you feel wonderful about yourself. ITS TRUE! YOU'RE NOT A FAILURE!
3.) Eliminate justified thinking. I think that the savings gurus have been too far gone from the days of wallowing helplessly in a debt cycle to truly understand how people will react when they say "treat yourself... you've done a good job!". While I'm all for positive reinforcement, I think that "treat" should be defined and should be an informed decision. Treating to the gurus includes: going to the movies, buying a new shirt, going to the coffeehouse, buying ice cream, etc... But honestly, those are all things that could be detrimental to a budget or plan when taken from a justified purchase state of mind. Going to the movies does not mean go to the movies with three of your friends and buy a combo a piece. Buying a new shirt does not mean designer label. Coffeehouse does not mean the largest size most expensive drink with a pastry on the side. Ice cream... well that one might be safe. The point is you've been going at your saving from an informed state-of-mind, make sure that any "treats" you feel you've earned are still within that state of mind. No sense in setting yourself backward so you can have that new Coach bag.
4.) Whatever is left over after paying for your bills and contributing to your debt, should be cut in half. Use one half to pay yourself by depositing into your savings account, the rest to spend on your basic essentials (food, clothing, school etc.) If its not enough money than you have two options available: Make more money or Spend less money.
It may not be failproof and it may not work for you, but its my plan and I'm done settling and I'm happy paying myself.
21.4.09
Save money on Electricity...
Listening to the radio this morning they were talking about ways to eliminate high electricity bills. I figured it was a good sign to cover a topic that I hadn't covered before. I'm about to take that great leap (again ((for the fifth time))) and move into a new place. Taking on utilities bills is something I haven't done in quite a long time, rent for that matter. What better time than the month of April, Earth Day is coming up, to re-evaluate managing what we consume and trim costs on that consumption.
Even if you’re not on the green-movement bandwagon, you might want to look into buying energy efficient compact fluorescent light bulbs (CFL) just to save money on electricity. True, CFLs cost a bit more than regular bulbs, but they consume a third of the power and last up to 10 times as long; that’s good news for the Earth and your wallet.
If your hot water heater is electric, it could account for up to twenty percent of your monthly electric bill. There are, however, several things you can do to reduce the money spent on electricity for hot water. (And don’t worry; they don’t involve taking cold showers!)
First, make sure your water heater is wrapped in a good hot water jacket, which insulates the tank. They’re only $10-$20, so even if you’re renting, offer to pay for one if your landlord will slap it on the tank for you. Next, wash your clothes with cold water whenever possible. While hot water is good for really dirty loads, it can also shrink and fade clothes; usually cold water does laundry just fine.
Finally, ensure that you do laundry and dishes efficiently. Don’t run half loads in the washer or dishwasher if you can help it, and learn to air dry your clothes. Yes, it’s not as fast, but you’ll learn to love not only the electricity you save, but also the crisp and unwrinkled feel of your clothes.
Heating, cooling, and cooking make up about 50% of household energy use. To save on your electricity, go easy on the AC or use a programmable thermostat to start cooling the air a few hours before you get home from work and to go off as the air cools at night and you go to bed.
Ceiling fans and attic fans are great at circulating the air, which can make your home feel many degrees cooler.
Large appliances like your refrigerator, stove, and microwave are other big consumers of electricity. Your fridge can account for 20% of household electricity use. Replacing old appliances with newer energy efficient models may seem like a big expense, but it can pay for itself in a few years. Set your fridge and freezer to lower (warmer) settings and make sure that the doors seal properly. You can do this by taking a piece of paper, your GECU bank statement would work nicely ;), and closing it in your fridge/freezer door. If you're able to move the paper up, down or pull it out, your doors are not sealing properly.
Note: I’ve been hearing a lot lately about unplugging appliances and electronics while you’re gone because they actually drain power even when they’re off. I was skeptical, so I dug around a bit. I found it to be true: Anything that’s plugged in will drain some juice, even when it’s turned off. Turns out, however, that the amount of power is so low that unplugging everything when you’re not home is unlikely to save you more than a dollar on you next electric bill.
Finally, installing low-flow shower heads, toilets, and faucets can reduce your overall hot water usage. Shower heads start at less that $20.
Even if you’re not on the green-movement bandwagon, you might want to look into buying energy efficient compact fluorescent light bulbs (CFL) just to save money on electricity. True, CFLs cost a bit more than regular bulbs, but they consume a third of the power and last up to 10 times as long; that’s good news for the Earth and your wallet.
If your hot water heater is electric, it could account for up to twenty percent of your monthly electric bill. There are, however, several things you can do to reduce the money spent on electricity for hot water. (And don’t worry; they don’t involve taking cold showers!)
First, make sure your water heater is wrapped in a good hot water jacket, which insulates the tank. They’re only $10-$20, so even if you’re renting, offer to pay for one if your landlord will slap it on the tank for you. Next, wash your clothes with cold water whenever possible. While hot water is good for really dirty loads, it can also shrink and fade clothes; usually cold water does laundry just fine.
Finally, ensure that you do laundry and dishes efficiently. Don’t run half loads in the washer or dishwasher if you can help it, and learn to air dry your clothes. Yes, it’s not as fast, but you’ll learn to love not only the electricity you save, but also the crisp and unwrinkled feel of your clothes.
Heating, cooling, and cooking make up about 50% of household energy use. To save on your electricity, go easy on the AC or use a programmable thermostat to start cooling the air a few hours before you get home from work and to go off as the air cools at night and you go to bed.
Ceiling fans and attic fans are great at circulating the air, which can make your home feel many degrees cooler.
Large appliances like your refrigerator, stove, and microwave are other big consumers of electricity. Your fridge can account for 20% of household electricity use. Replacing old appliances with newer energy efficient models may seem like a big expense, but it can pay for itself in a few years. Set your fridge and freezer to lower (warmer) settings and make sure that the doors seal properly. You can do this by taking a piece of paper, your GECU bank statement would work nicely ;), and closing it in your fridge/freezer door. If you're able to move the paper up, down or pull it out, your doors are not sealing properly.
Note: I’ve been hearing a lot lately about unplugging appliances and electronics while you’re gone because they actually drain power even when they’re off. I was skeptical, so I dug around a bit. I found it to be true: Anything that’s plugged in will drain some juice, even when it’s turned off. Turns out, however, that the amount of power is so low that unplugging everything when you’re not home is unlikely to save you more than a dollar on you next electric bill.
Finally, installing low-flow shower heads, toilets, and faucets can reduce your overall hot water usage. Shower heads start at less that $20.
4.3.09
Google your way to scholarships
Ohhhh google google google. How I love thee. Let me count the ways... Results 1 - 100 of about 8,860,000 for engineering scholarships. SAY WHAT?!?!?
There is no way I could sift through that many results to find the perfect scholarship for me. So the goal is to get the results to a more manageable number.
Google reacts well to certain parameters. If you are looking for a nursing scholarship, you can search by that specific phrase by placing it in quotation marks. "Nursing Scholarship" pulls up 368,000 results while just searching for nursing scholarship without the quotes pulls 559,000.
Another great parameter is the OR/AND function. These two little words may not give you a lot of points in scrabble but using them in conjunction on google will beef up your scholarship results score immensely. Try searching for Pediatric Nursing Scholarship. 271,000 results. Try searching for "Pediatric Nursing Scholarship". 18 results. Now we're going to add just one word, this is going to be your favorite word out of the entire English language because it will provide more information on how to successfully put your scholarship opportunities within reach: Application. You need to fill out an application to apply for a scholarship. You know that, so make sure you include it in your search query. "Pediatric Nursing Scholarship" AND "application" returns 10 results. That eliminates 8 results you didn't need to look at because they did not pertain to applying for a scholarship.
Probably one of the best parameters to use is the filetype parameter. Filetype will only show specific file extensions like pdf or word documents, which is the primary format most scholarship applications are in. Example. Search scholarship application in google, receive 9,950,000 results. Search "scholarship application", receive 924,000 results. Search "scholarship application" AND "nursing", receive 124,000 results. Search (filetype:doc OR filetype:pdf) "scholarship application" AND "nursing", receive 2,310 results. From almost 10 million to just over 2 thousand, that is a much more manageable number.
Add in a few extra ingredients, your city (example: (filetype:doc OR filetype:pdf) "scholarship application" AND "nursing" AND "los angeles"), your school, your state, your field of study... mix it up, try different arrangements and you'll have a very strong scholarship portfolio to choose from.
If you have any questions at all, please feel free to comment here and I genuinely wish you the best of luck on your scholarship quest. I'm in the same boat with you so I feel the exasperation.
Good Luck!
There is no way I could sift through that many results to find the perfect scholarship for me. So the goal is to get the results to a more manageable number.
Google reacts well to certain parameters. If you are looking for a nursing scholarship, you can search by that specific phrase by placing it in quotation marks. "Nursing Scholarship" pulls up 368,000 results while just searching for nursing scholarship without the quotes pulls 559,000.
Another great parameter is the OR/AND function. These two little words may not give you a lot of points in scrabble but using them in conjunction on google will beef up your scholarship results score immensely. Try searching for Pediatric Nursing Scholarship. 271,000 results. Try searching for "Pediatric Nursing Scholarship". 18 results. Now we're going to add just one word, this is going to be your favorite word out of the entire English language because it will provide more information on how to successfully put your scholarship opportunities within reach: Application. You need to fill out an application to apply for a scholarship. You know that, so make sure you include it in your search query. "Pediatric Nursing Scholarship" AND "application" returns 10 results. That eliminates 8 results you didn't need to look at because they did not pertain to applying for a scholarship.
Probably one of the best parameters to use is the filetype parameter. Filetype will only show specific file extensions like pdf or word documents, which is the primary format most scholarship applications are in. Example. Search scholarship application in google, receive 9,950,000 results. Search "scholarship application", receive 924,000 results. Search "scholarship application" AND "nursing", receive 124,000 results. Search (filetype:doc OR filetype:pdf) "scholarship application" AND "nursing", receive 2,310 results. From almost 10 million to just over 2 thousand, that is a much more manageable number.
Add in a few extra ingredients, your city (example: (filetype:doc OR filetype:pdf) "scholarship application" AND "nursing" AND "los angeles"), your school, your state, your field of study... mix it up, try different arrangements and you'll have a very strong scholarship portfolio to choose from.
If you have any questions at all, please feel free to comment here and I genuinely wish you the best of luck on your scholarship quest. I'm in the same boat with you so I feel the exasperation.
Good Luck!
26.2.09
America Saves...Day 5!
I for one have applied for a majority of the scholarships available to me on FastWeb. And after I exhausted that resource, I realized that the majority of those were scholarships that almost anyone could qualify for. I needed to find scholarships that were more pertinent to my degree plan, my region and my academic standing.
I didn't graduate in the top ten and my parents don't make alot of money, but still enough that the government says they should pay for school even when I know they can't afford it. Whats left to me then? Scholarships and Student Loans... My ambition is to not have dug myself into a giant pit of debt upon graduation. So scholarships it is.
So how do I get the opportunity to apply for more?
A few simple steps I utilize and hope to have work in my favor.
1. Don't sit there and wait for scholarships to come to you. No one is going to walk up to you on the street and hand you a wad of cash, so don't expect scholarships to work that way either. Even top academic and athletic students had to earn their scholarships, its only right that you do legwork too.
2. Write you essays! I know that its exhausting and you may not be pleased with the end result but getting your essays written long before the deadline approaches will allow you to make any edits you deem necessary. Have a teacher or professor proofread and edit your paper for you to ensure that you come off as professional.
3. You will never run out of scholarship opportunities. GUARANTEED. I can say this with confidence because when I thought I was done, I learned to open more doors for myself. When FastWeb wasn't producing the results I needed, I contacted my school to find out if they had any leads. When that was exhausted I contacted the chamber of commerce in my area to see if they had any funding or monies designated for scholarships. When that was exhausted I turned to my degree plan and began searching for organizations and affiliations within my city that might have a scholarship fund for engineers. When that was exhausted I turned to my church to see if they had any information on scholarships for active christian students. The only thing I had to lose was time, but while it was time-consuming it was well worth the effort. As the saying goes, Rinse and Repeat. Start over again, scholarships become available all year round. And don't forget to check with your state's education page. They may have more scholarship lists available to you.
4. When all else fails... Google. This is the most time-consuming venture of all as you have to actually sift through scholarship opportunities and figure out if you're eligible. With the right search parameters, Google can pull up anything. "Nursing Scholarships" or "Nursing Scholarships in California" or "Pediatric Nursing Scholarships" all produce results. But don't give up. Draft up a letter to send to any scholarships that you have missed the deadline for and request information about applying for the scholarship next year. Requesting this information will give you time to prepare as well to make sure they are having the scholarship once more. Nothing I dislike more than putting together a scholarship only to release: I'm ineligible, I missed the deadline or it's inactive. While search engines can produce a wealth of information, its quality over quantity.
5. Never mislead others about yourself on a scholarship application, this could come back to haunt you. Always have backup copies of your resume, letters of recommendation, biography and general essays in the event your computer crashes. Store them online with your email provider for fast submission and for added security
I didn't graduate in the top ten and my parents don't make alot of money, but still enough that the government says they should pay for school even when I know they can't afford it. Whats left to me then? Scholarships and Student Loans... My ambition is to not have dug myself into a giant pit of debt upon graduation. So scholarships it is.
So how do I get the opportunity to apply for more?
A few simple steps I utilize and hope to have work in my favor.
1. Don't sit there and wait for scholarships to come to you. No one is going to walk up to you on the street and hand you a wad of cash, so don't expect scholarships to work that way either. Even top academic and athletic students had to earn their scholarships, its only right that you do legwork too.
2. Write you essays! I know that its exhausting and you may not be pleased with the end result but getting your essays written long before the deadline approaches will allow you to make any edits you deem necessary. Have a teacher or professor proofread and edit your paper for you to ensure that you come off as professional.
3. You will never run out of scholarship opportunities. GUARANTEED. I can say this with confidence because when I thought I was done, I learned to open more doors for myself. When FastWeb wasn't producing the results I needed, I contacted my school to find out if they had any leads. When that was exhausted I contacted the chamber of commerce in my area to see if they had any funding or monies designated for scholarships. When that was exhausted I turned to my degree plan and began searching for organizations and affiliations within my city that might have a scholarship fund for engineers. When that was exhausted I turned to my church to see if they had any information on scholarships for active christian students. The only thing I had to lose was time, but while it was time-consuming it was well worth the effort. As the saying goes, Rinse and Repeat. Start over again, scholarships become available all year round. And don't forget to check with your state's education page. They may have more scholarship lists available to you.
4. When all else fails... Google. This is the most time-consuming venture of all as you have to actually sift through scholarship opportunities and figure out if you're eligible. With the right search parameters, Google can pull up anything. "Nursing Scholarships" or "Nursing Scholarships in California" or "Pediatric Nursing Scholarships" all produce results. But don't give up. Draft up a letter to send to any scholarships that you have missed the deadline for and request information about applying for the scholarship next year. Requesting this information will give you time to prepare as well to make sure they are having the scholarship once more. Nothing I dislike more than putting together a scholarship only to release: I'm ineligible, I missed the deadline or it's inactive. While search engines can produce a wealth of information, its quality over quantity.
5. Never mislead others about yourself on a scholarship application, this could come back to haunt you. Always have backup copies of your resume, letters of recommendation, biography and general essays in the event your computer crashes. Store them online with your email provider for fast submission and for added security
19.1.09
Salaries...
I'm currently enrolled at the El Paso Community College. I will have graduated with my degree in Electrical Engineering in the Spring of 2010 and hopefully start at the University of Texas at El Paso that summer or fall. I've got a general understanding of what I will be making once I finish my bachelors degree courses, but I'm wondering if I should then continue on my education to a Master's degree. Of course I would like to be settled into a company that generally appreciates the contributions that I make to the company before I go back to school again.
So my ultimate goal today is to get a general idea of the payscale difference between an undergraduate with a Bachelors degree and a graduate with a master's degree. Luckily I know that there are a great deal of helpful websites out there that can provide this information for me. The main driving goal in this experiment is to determine my savings budget for each scenario. I'm concerned that I should start saving for retirement, but I can't anticipate my savings contributions based on the salary I am currently making. Planning for your future involves research and goal setting, so this is something that I feel will provide a good gauge for me to begin my goal planning.
Payscale.com: Provides a helpful graphing utility to see the various levels of certification, experience and industries and compare the information. Here is one of the graphs:
This particular graph is by years of experience. I hope to have the opportunity to obtain some experience while I am still in school, but on the chance that doesn't play out for me, its nice to know what individuals that lack experience are making and the goals for which I would like to set for myself while I'm employed.
Engineersalary.com: Had an indepth view of the different routes that one could take and the payscale difference. Salaries in 2007 for new grads: B.S.E.E. received starting offers averaging $57,830; M.S.E.E. grads averaged $69,180; and new Ph.D.'s averaged $86,440. Advanced degrees are in the high demand by both Fortune 500s and start-ups. This information will definitely come in handy when I am deciding what direction I want to take my professional and educational futures.
While this last website was specific for my degree plan, you can find the payscale for your field of interest online easily enough. Payscale.com is not limited to just engineering. The more you know, the more you can plan for.
And its never to early to be thinking about retirement!
So my ultimate goal today is to get a general idea of the payscale difference between an undergraduate with a Bachelors degree and a graduate with a master's degree. Luckily I know that there are a great deal of helpful websites out there that can provide this information for me. The main driving goal in this experiment is to determine my savings budget for each scenario. I'm concerned that I should start saving for retirement, but I can't anticipate my savings contributions based on the salary I am currently making. Planning for your future involves research and goal setting, so this is something that I feel will provide a good gauge for me to begin my goal planning.
Payscale.com: Provides a helpful graphing utility to see the various levels of certification, experience and industries and compare the information. Here is one of the graphs:
Median Salary by Years Experience - Degree: Electrical Engineer (United States)
Compare your salary: Get a free Salary Report
This particular graph is by years of experience. I hope to have the opportunity to obtain some experience while I am still in school, but on the chance that doesn't play out for me, its nice to know what individuals that lack experience are making and the goals for which I would like to set for myself while I'm employed.
Engineersalary.com: Had an indepth view of the different routes that one could take and the payscale difference. Salaries in 2007 for new grads: B.S.E.E. received starting offers averaging $57,830; M.S.E.E. grads averaged $69,180; and new Ph.D.'s averaged $86,440. Advanced degrees are in the high demand by both Fortune 500s and start-ups. This information will definitely come in handy when I am deciding what direction I want to take my professional and educational futures.
While this last website was specific for my degree plan, you can find the payscale for your field of interest online easily enough. Payscale.com is not limited to just engineering. The more you know, the more you can plan for.
And its never to early to be thinking about retirement!
12.1.09
How to Get out of Debt... Say what?!
1. Stop increasing your debt. If you have any credit cards that are maxed out, cut them in half. If you have more than one remaining credit card, cut them up. When you finish, you should have no more than one credit card. Also cut up any "convenience" cards, such as gas cards, department store cards, etc. You will use your one credit card ONLY to buy "must haves" (see below) until you can get your spending fully under control.
2. Record your spending. The idea of writing down what you spend is a concept most people find annoying at best and useless at worst. However, this is actually your key to getting out of debt. You're in debt because you spent money you didn't have. If you're like many people, your debt didn't come from one single huge purchase; it was trickles of spending amassed over time. Avoiding more debt starts with knowing what you are spending your money on. Each day for one month (at least), write down every penny you spend, no matter how small.
3. Categorize your spending. Categorize your monthly expenses into logical groups of "Must have," "Should have," and "Like to have." "Must haves" are things that will cause harm if you don't buy them, such as food, rent, medicine, pet food, etc. "Should haves" are things that you need, but can do without for a little while, e.g., new clothes for work, gym membership, etc. "Like to haves" are things that you don't need, but enhance your life, e.g., magazine subscriptions, newspaper, cable tv, weekly coffee with friends, IM on your phone, etc. By doing this, you'll have a good idea of what you spend your money on, and you'll be able to figure out where you might need to cut back on spending. You don't want to eliminate all of the "should haves" and the "like to haves," but take a look at those first. One of your expenses will be paying off your debt. You will want to always pay more than the minimum required, otherwise it will take a really long time to eliminate your debt. For example, a single credit card with just a $1,000 balance and 19% interest will take about FIVE YEARS to pay off by making only the minimum payment of $26. Paying the minimum, you will spend $1556.40, with the Total Interest Paid: $556.40! Paying only the minimum payment will equate to giving them 55% more than you actually borrowed.
4. Make a budget based on your spending record. Write down the amount you spent in each category of spending last month as you budget for spending for the next month. Don't sweat if you feel like the amount is too much. For now, just write it down. If you spent $250 on clothes last month, write it down. If you spent $200 on gas for your car last month, write it down.
5. Figure out your debt paydown fund amount. Looking at your new budget, you're going to be able to see areas where you might be able to cut back. You might also see categories where you need to increase spending. In doing this step, no one is suggesting that you come up with budget amounts that are unlivable. Think about going on a diet--if you try to restrict your calories excessively, what's the first thing you want to do? Krispy Kreme here you come, right? The key here is to be realistic. Are you paying money for a gym membership you never use, despite your best intentions? What about the $4 a day, every day, morning coffee you get before work, or your 5-cans-of-Diet-Coke-a-day habit? Chances are, your budget has some fat that can be trimmed. At the end of this exercise, you should have come up with a figure, a number of dollars that can be put toward debt paydown.Make a note of this figure. Day-to-day, if you don't want to keep taking note of all your expenditures, just write down what you spend in the categories you are trying to cut back. This will give you a very clear idea of how well you are doing, and, if you know you're going to go over your budgeted amount, it may help you decide to hold back on a purchase, . If your still unable to find money in your budget, you may be able to find it in your paycheck. Statistics show that the average employee pays over 30% in taxes. Meaning that if your salary is $50k per year, your take home pay is only $35k. There are millions of employees who have filed their w4 forms incorrectly which means that their job is taking out more money than they should. If you are interested in determining your witholdings visit this website http://www.kiplinger.com/tools/withholding/. You should review your filings with an CPA to determine your exemptions. Chances are, you can refile your w4 form and increase your paycheck almost instantly. However if all else fails, and you still can't qualify for a more exemptions than start a home base business to take advantage of the write offs. You must work them to make a potential profit but the tax write offs alone are worth it. There are a lot of businesses out there that you can plug into, but there is one that may be more helpful because their services revolve around getting you out of debt as quickly as possible using your same money, credit restoration, unlimited access to CPAs and Financial Planners, and building wealth, because while you are getting out of debt you should be building wealth.
6. Figure out how much you owe, to whom, and on what terms. Debt can often feel overwhelming because you really don't have a clear idea of how much in debt you really are. Gather your bills, and make a simple list or spreadsheet of all the debts you have. Write down all the pertinent facts, including name of the creditor, your total balance, your minimum monthly payment, and your interest rate.
7. Start paying it off. Take the debt paydown figure of money you trimmed from your budget in step 4, and apply it to debt repayment. It's a good idea to prioritize the debts to which you are going to apply this extra money. Do you have debts that are past due and the creditors are hanging out on your door step demanding your first-born? Do you have debts with exceedingly high interest rates? Consider these top priorities. Let's say you determined in Step 4 that you could comfortably trim an extra $250 from your monthly budget to go toward paying debts, and that from your list of debts in Step 5, you owe $2,000 on a store credit card that has an interest rate of 19.5%, $1,000 on a Visa with an interest rate of 11.5%, and $25,000 in student loans with an interest rate of 5%. You would want to pay the minimum on your low interest rate debts, and apply the bulk of your $250 to the highest interest rate, in this case, your 19.5% store credit card, despite the fact that the actual cost of the student loan interest is highest. Also, consider that if you are already paying a minimum payment of $50 on that high interest card, if you start sending $300 per month (the minimum you are already paying plus your debt paydown figure), once it is paid off, then you will have increased your debt paydown figure. The next creditor can get the amount they are already getting plus the $300. Each debt gets easier to pay off than the last.
8. Wash, rinse, repeat. Just kidding, but you get the idea. This process gets easier. Once you've figured out your spending and what debts you owe, keeping it up gets easier and easier. You'll refine your budget over time, increase the amount of money you can pay yourself (see tip below) and the amount you can put toward debt. Continue to pay off each debt in your priority list. As you pay off convenience cards and high interest credit cards, call those credit card companies and cancel those accounts.
9. Don't give up. Chances are you didn't get into debt in a day, and you won't get out of debt in a day. Quick fixes don't last, but learning how to manage your money can bring great peace into your life, and you can spend your mental energies on more fun things.Also checkout this company had some great feed back about them,
2. Record your spending. The idea of writing down what you spend is a concept most people find annoying at best and useless at worst. However, this is actually your key to getting out of debt. You're in debt because you spent money you didn't have. If you're like many people, your debt didn't come from one single huge purchase; it was trickles of spending amassed over time. Avoiding more debt starts with knowing what you are spending your money on. Each day for one month (at least), write down every penny you spend, no matter how small.
3. Categorize your spending. Categorize your monthly expenses into logical groups of "Must have," "Should have," and "Like to have." "Must haves" are things that will cause harm if you don't buy them, such as food, rent, medicine, pet food, etc. "Should haves" are things that you need, but can do without for a little while, e.g., new clothes for work, gym membership, etc. "Like to haves" are things that you don't need, but enhance your life, e.g., magazine subscriptions, newspaper, cable tv, weekly coffee with friends, IM on your phone, etc. By doing this, you'll have a good idea of what you spend your money on, and you'll be able to figure out where you might need to cut back on spending. You don't want to eliminate all of the "should haves" and the "like to haves," but take a look at those first. One of your expenses will be paying off your debt. You will want to always pay more than the minimum required, otherwise it will take a really long time to eliminate your debt. For example, a single credit card with just a $1,000 balance and 19% interest will take about FIVE YEARS to pay off by making only the minimum payment of $26. Paying the minimum, you will spend $1556.40, with the Total Interest Paid: $556.40! Paying only the minimum payment will equate to giving them 55% more than you actually borrowed.
4. Make a budget based on your spending record. Write down the amount you spent in each category of spending last month as you budget for spending for the next month. Don't sweat if you feel like the amount is too much. For now, just write it down. If you spent $250 on clothes last month, write it down. If you spent $200 on gas for your car last month, write it down.
5. Figure out your debt paydown fund amount. Looking at your new budget, you're going to be able to see areas where you might be able to cut back. You might also see categories where you need to increase spending. In doing this step, no one is suggesting that you come up with budget amounts that are unlivable. Think about going on a diet--if you try to restrict your calories excessively, what's the first thing you want to do? Krispy Kreme here you come, right? The key here is to be realistic. Are you paying money for a gym membership you never use, despite your best intentions? What about the $4 a day, every day, morning coffee you get before work, or your 5-cans-of-Diet-Coke-a-day habit? Chances are, your budget has some fat that can be trimmed. At the end of this exercise, you should have come up with a figure, a number of dollars that can be put toward debt paydown.Make a note of this figure. Day-to-day, if you don't want to keep taking note of all your expenditures, just write down what you spend in the categories you are trying to cut back. This will give you a very clear idea of how well you are doing, and, if you know you're going to go over your budgeted amount, it may help you decide to hold back on a purchase, . If your still unable to find money in your budget, you may be able to find it in your paycheck. Statistics show that the average employee pays over 30% in taxes. Meaning that if your salary is $50k per year, your take home pay is only $35k. There are millions of employees who have filed their w4 forms incorrectly which means that their job is taking out more money than they should. If you are interested in determining your witholdings visit this website http://www.kiplinger.com/tools/withholding/. You should review your filings with an CPA to determine your exemptions. Chances are, you can refile your w4 form and increase your paycheck almost instantly. However if all else fails, and you still can't qualify for a more exemptions than start a home base business to take advantage of the write offs. You must work them to make a potential profit but the tax write offs alone are worth it. There are a lot of businesses out there that you can plug into, but there is one that may be more helpful because their services revolve around getting you out of debt as quickly as possible using your same money, credit restoration, unlimited access to CPAs and Financial Planners, and building wealth, because while you are getting out of debt you should be building wealth.
6. Figure out how much you owe, to whom, and on what terms. Debt can often feel overwhelming because you really don't have a clear idea of how much in debt you really are. Gather your bills, and make a simple list or spreadsheet of all the debts you have. Write down all the pertinent facts, including name of the creditor, your total balance, your minimum monthly payment, and your interest rate.
7. Start paying it off. Take the debt paydown figure of money you trimmed from your budget in step 4, and apply it to debt repayment. It's a good idea to prioritize the debts to which you are going to apply this extra money. Do you have debts that are past due and the creditors are hanging out on your door step demanding your first-born? Do you have debts with exceedingly high interest rates? Consider these top priorities. Let's say you determined in Step 4 that you could comfortably trim an extra $250 from your monthly budget to go toward paying debts, and that from your list of debts in Step 5, you owe $2,000 on a store credit card that has an interest rate of 19.5%, $1,000 on a Visa with an interest rate of 11.5%, and $25,000 in student loans with an interest rate of 5%. You would want to pay the minimum on your low interest rate debts, and apply the bulk of your $250 to the highest interest rate, in this case, your 19.5% store credit card, despite the fact that the actual cost of the student loan interest is highest. Also, consider that if you are already paying a minimum payment of $50 on that high interest card, if you start sending $300 per month (the minimum you are already paying plus your debt paydown figure), once it is paid off, then you will have increased your debt paydown figure. The next creditor can get the amount they are already getting plus the $300. Each debt gets easier to pay off than the last.
8. Wash, rinse, repeat. Just kidding, but you get the idea. This process gets easier. Once you've figured out your spending and what debts you owe, keeping it up gets easier and easier. You'll refine your budget over time, increase the amount of money you can pay yourself (see tip below) and the amount you can put toward debt. Continue to pay off each debt in your priority list. As you pay off convenience cards and high interest credit cards, call those credit card companies and cancel those accounts.
9. Don't give up. Chances are you didn't get into debt in a day, and you won't get out of debt in a day. Quick fixes don't last, but learning how to manage your money can bring great peace into your life, and you can spend your mental energies on more fun things.Also checkout this company had some great feed back about them,
