Scholarships For Students

College is expensive. There are loans and other ways to get money for higher education, but free money is always the best way to pay for college. If you can afford to pay for your kids to go to college, you probably made some sacrifices and good savings choices when they were young. Not everyone can do this, so if you know your child wants to go to college, encourage them to work towards scholarships for students. Not all good students are going to get these, as there are only so many to go around, but there are a few things they can do to get noticed.

Good grades are almost always a way to get good scholarships for students.

Not all of them rely on this for qualification, but many do. Students should always be encouraged to do their best, but don't push too hard. There are some students that will never be straight-A students, but they can still get into a good college because they have solid grades. It also depends on the target college. Where a student wants to go makes a difference in what GPA is acceptable. Just encourage them to work hard and to use good study habits.

Some students find that doing special projects that are not necessarily grade-orientated are ways to get scholarships for students. These special projects can come up all throughout school. It could be something as simple as a science fair project. Encourage your child to participant in all types of special projects that may otherwise be optional at  school. Also encourage them to do special projects and contests that develop in the community rather than just as school. Even without a scholarship, this helps your child become much more well rounded.

Don't forget about getting involved with the community in general. There are many scheduling committees that look at more than just grades, or give out scholarships based on single projects. Many colleges want their students to be well-rounded, and so do those that offer money to a student. Encourage your child to help the community by volunteering in a few different ways each year. They can also do things like Boy or Girl Scouts or programs like it. There are many out there, so your child is sure to find something that they will love to do.

There is a bonus to having your child go through all of these

things in high school other than scholarships for students.

They are going to be better people and they will grow up keeping others in mind when making choices. They are also going to know the value of hard work and keeping a goal in mind. Whether they get the money to go to college through scholarships or through loans or savings, there is always something to be said for doing your best and giving back. What they learn from your guidance will carry throughout their lives, even when it seems that they are not hearing a word that you are saying. Great benefits from Scholarships For Students.

College Grants

There are many types of college grants available to individuals who want to go to school and can’t afford it. There are college grants given by both federal and state governments, as well as other institutions, that allow individuals the opportunity to continue their education. A discussion of both federal and state college grants will provide more information on both.

Federal Grants

The federal government has really been pushing education and now even more kids are able to get federal college grants to attend college. The No Child Left Behind Act ensures that all children are getting the education they deserve and because of it even more kids are graduating from high school. This means that even more individuals are able to go on to college if they have the financial means to do so.

That is where federal college grants come into play.

Of the federal college grants available, the Pell Grant is one of the most recognized. It has been around since 1972 and it has funded the college educations of millions of students who did not have the financial means to pay for their college tuition. Although, the media reports that the Pell grant funding has been cut, this federal college grant remains to be one of the nation’s major funding sources.

There are other federal grants available as well. These include the Academic Competitiveness Grant and the National Science and Mathematics Access to Retain Talent Grant. Both of these college grants require that individuals be eligible to receive the Pell Grant in order to receive either of the two.

State Grants

All states manage their own grant programs. There are different ways in which states determine eligibility for college grants. Some of them focus on need, merit, and others on intended study. Some states offer specialized college grants programs while others offer free money for non traditional adult students, the disabled, academically gifted, and even specific ethnic groups. Since states determine their own criteria they are different in each state.

Other College Grants and Money Sources

Many other sources offer college grants to students. Performing a quick search on the web will give you some information on the organizations that provide college grants and the requirements for eligibility. Grants are an outstanding option for individuals interested in going to college. Grants are free money, unlike loans, and they do not have to be paid back. In addition, there are many grants offered that are based on merit, need, ethnicity, group association, and other such criteria. With such a broad spectrum of criteria, almost anyone can find a grant for which they qualify.

The key is to get an early start on the college grants that you are interested in and apply well ahead of the deadline. The last thing you want to do is to miss free government money that could pay for your education because you were not prepared. So, do the necessary research on government grants for college and determine what you would probably qualify for and then send in your applications. There are grants out there that will pay for your college tuition so you do not have to. It is worth doing a little grunt work in order to find government grants to pay for college. It could save you tens of thousands of dollars over the course of your degree studies.

Government Money Club and College Grants

Teachers College Grants

Through the College Cost Reduction and Access Act of 2007, Congress created the Teachers Education Assistance for College and Higher Education (TEACH) Grant Program that provides college grants of up to $4,000 per year to students who intend to teach in a public or private elementary or secondary school that serves students from low-income families. If, after reading all of the information on this fact sheet, you are interested in learning more about the TEACH College Grants, you should contact the financial aid office at the college where you will be enrolled starting with the 2008-2009 school year.Effective Dates

The first TEACH College Grants

will be awarded to eligible students for the 2008-2009 school year.

Conditions

In exchange for receiving TEACH College Grants, you must agree to serve as a full-time teacher in a high-need field in a public or private elementary or secondary school that serves low-income students (see below for more information on high-need fields and schools serving low-income students). As a recipient of TEACH College Grants, you must teach for at least four academic years within eight calendar years of completing the program of study for which you received a TEACH Grant. IMPORTANT: If you fail to complete this service obligation, all amounts of TEACH College Grants that you received will be converted to a Federal Direct Unsubsidized Stafford Loan. You must then repay this loan to the U.S. Department of Education. You will be charged interest from the date the grant(s) was disbursed. Note: TEACH College Grant recipients will be given a 6-month grace period prior to entering repayment if a TEACH College Grant is converted to a Direct Unsubsidized Loan.

Student Eligibility Requirements

To receive a TEACH College Grants

you must meet the following criteria:

High-Need Field

High-need fields are the specific areas identified below –

Schools Serving Low-Income Students

Schools serving low-income students include any elementary or secondary school that is listed in the Department of Education’s Annual Directory of Designated Low-Income Schools for Teacher Cancellation Benefits. To access the Directory, please go to https://www.tcli.ed.gov/CBSWebApp/tcli/TCLIPubSchoolSearch.jsp.

TEACH Grant Agreement to Serve

Each year you receive TEACH College Grants, you must sign a TEACH College Grants Agreement to Serve that is available electronically on the TEACH College Grants Agreement to Serve Web site. The TEACH Grant Agreement to Serve specifies the conditions under which the grant will be awarded, the teaching service requirements, and includes an acknowledgment by you that you understand that if you do not meet the teaching service requirements you must repay the grant as a Federal Direct Unsubsidized Loan, with interest accrued from the date the grant funds were disbursed. Specifically, the TEACH College Grants Agreement to Serve will require the following:

• For each TEACH Grant-eligible program for which you received TEACH College Grants, you must serve as a full-time teacher for a total of at least four academic years within eight calendar years after you completed or withdrew from the academic program for which you received the TEACH College Grants.
• You must perform the teaching service as a highly-qualified teacher at a low-income school. The term highly-qualified teacher is defined in section 9101(23) of the Elementary and Secondary Education Act of 1965 or in section 602(10) of the Individuals With Disabilities Education Act.
• Your teaching service must be in a high-need field.
• You must comply with any other requirements that the Department of Education determines to be necessary.
• If you do not complete the required teaching service obligation, TEACH College Grants you received will be converted to a Federal Direct Unsubsidized Stafford Loan that you must repay, with interest charged from the date of each TEACH College Grant disbursement.

IMPORTANT REMINDER

If you receive TEACH College Grants but do not complete the required teaching service, as explained above, you will be required to repay the grants as a Federal Direct Unsubsidized Stafford Loan, with interest charged from the date of each TEACH College Grant disbursement.

Next Steps

If you are interested in learning more about the TEACH College Grants Program, you should contact the financial aid office at the college where you will be enrolled to find out if they will participate in the TEACH Grant Program. For a listing of the 2008-2009 school year TEACH College Grants eligible institutions,
please see http://ifap.ed.gov/eannouncements/attachments/021709TEACHGrant.xls

Disclaimer

This page provides a preliminary summary of the TEACH College Grant Program based on the College Cost Reduction and Access Act of 2007. The information on this page is subject to change and is not binding on the Department of Education.

Teachers College Grants by Matthew Lesko and Government Money Club

Student Loan Consolidation

Consolidation student loans allow you to combine different types of federal student loans to simplify repayment. Even if you have just one loan, you can also choose to consolidate it. Both the FFEL and Direct Student Loan Programs offer consolidation loans. There are several advantages to consolidate or rehabilitate your student loan as described in the categories below.

FFEL Consolidation Student Loan

A FFEL Consolidation Student Loan is designed to help student and parent borrowers consolidate several types of federal student loans with various repayment schedules into one loan. With a FFEL Consolidation Loan, you will make only one payment a month. Under this program, your consolidation loan will be made by a commercial lender, credit bureaus will be notified that your account has a zero balance, and you will sign a new promissory note that will establish a new interest rate and repayment schedule. To receive a FFEL Consolidation Loan, you must be in repayment on your defaulted loan (that is, three voluntary, on-time, full monthly payments). Depending on the balance due, the repayment period may extend up to 30 years. If you owe no other delinquent or defaulted debts to the United States, you will again be eligible for other federal funds, including FHA loans, VA loans, and Title IV student financial aid funds.

Borrowers Currently Enrolled in school can no longer Consolidate Their Loans

The Higher Education Reconciliation Act of 2005 eliminated the provision that allowed a FFEL or Direct Loan borrower who is enrolled in school on at least a half-time basis to request to enter repayment early on his or her Stafford Student Loan, if the lender approves. Repayment is now defined as not beginning until 6 months and one day after the date the student ceases to carry at least one-half the normal full- time academic workload, as determined by the school. Therefore, a FFEL or Direct Loan borrower who is still enrolled in school at least half-time may no longer request to enter repayment early to apply for a FFEL or Direct Consolidation Loan.

To apply for a Direct Student Loan Consolidation or an FFEL Consolidation the borrower must contact the lender and complete an application.  Most lenders provide borrowers with the ability to apply on-line or request an application over the telephone.  Once an application is completed and submitted, the lender will request information from the borrower’s other lenders or from its own system to determine the amounts outstanding on the borrowers Student Loan.  The borrower will then receive notification about the consolidation Student Loan, normal consumer disclosures, the amount owed, and if appropriate, where to make payments.

FFEL Consolidation Student Loan Weighted Average Interest Rate

Consolidation loans have fixed interest rates that are based on the weighted average of the interest rates on the loans being consolidated. A lender can provide a new consolidation loan borrower with the lowest statutory weighted average interest rate for loans by using the lower of the weighted average of the interest rates on the loans being consolidated as of July 1 or the date the lender received the borrowers consolidation loan application. The lender should apply a consistent method of determining when an application is received.

Most federal education loans are eligible for consolidation, including subsidized and unsubsidized Direct and FFEL Stafford Loans, SLS, Federal Perkins Loans, Federal Nursing Loans, and Health Education Assistance Loans. PLUS Loan borrowers (parent and graduate/professional degree students) can also consolidate their loans. Private education loans are not eligible for consolidation. To obtain a complete list of the federal student loans that can be consolidated

• contact the Direct Loan Origination Center's Consolidation Department if you’re applying for a Direct Consolidation Loan. You can reach them by visiting www.loanconsolidation.ed.gov.
• contact a participating FFEL lender if you’re applying for a FFEL Consolidation Loan.

Eligibility rules

All FFEL and Direct Stafford Loan borrowers are eligible to consolidate after they graduate, leave school, or drop below half-time enrollment. PLUS loans are eligible for consolidation once they are fully disbursed. Borrowers who are delinquent or in default must meet certain requirements before they may consolidate their loans. Contact your loan holder for more information.

Eligibility Requirements:

1. To qualify for a Direct Consolidation Student Loan, borrowers must have at least one Direct Loan or Federal Family Education Loan (FFEL) that is in grace, repayment, deferment or default status. Loans that are in an in-school status cannot be included in a Direct Consolidation Loan.
2. Borrowers can consolidate most defaulted education loans, if they make satisfactory repayment arrangements with the current Student Loan holders or agree to repay their new Direct Consolidation Loan under the Income Contingent Repayment Plan.
3. Borrowers who do not have Direct Loans may be eligible for a Direct Consolidation Loan if they include at least one FFEL Loan and have been unable to obtain a Federal Consolidation Loan with a FFEL consolidation lender or have been unable to obtain a Federal Student Consolidation Loan with income-sensitive repayment terms acceptable to them or intend to apply for loan forgiveness under the Public Service Loan Forgiveness Program.
4. Borrowers who have only a Direct Consolidation Loan cannot consolidate again unless they include an additional loan.

Interest rate

The interest rate for FFEL and Direct Consolidation Student Loan is set according to a formula established by federal statute. The fixed rate is based on the weighted average of the interest rates on the loans at the time you consolidate, rounded up to the nearest one-eighth of a percent. The interest rate does not exceed 8.25 percent. The Student Loan consolidation rate is fixed for the life of the loan, which protects you from future increases in variable rate loans but prevents you from benefiting from future decreases in variable rates. Borrowers with Stafford a Student Loan issued on or after July 1, 1995, can reduce the consolidation
rate by up to half a percentage point or more by consolidating before the end of the grace period. The interest rate you would receive, however, depends on which federal student loans are being consolidated. For example, your rate would be higher if you consolidated a 5 percent Federal Perkins Loan along with a
6.62 percent Direct or FFEL Stafford Loan. For the new interest rates in effect from July 1, 2008 through June 30, 2009 for variable rate Direct Subsidized Student Consolidation Loans, Direct Unsubsidized Student Consolidation Loans, Direct PLUS Consolidation Loans, Direct Subsidized Loans, Direct Unsubsidized Loans, and Direct PLUS Loans.

Obtaining a Student Consolidation Loan

For a FFEL Consolidation Loan, contact the consolidation department of a participating lender for an application or more information. (Your parents should do the same thing if they want to apply for a FFEL PLUS Consolidation Loan.) For Direct Loans, you (and your parents, for a Direct PLUS Consolidation Loan) can contact the Direct Loan Origination Center’s Consolidation Department at the Web site given above. Note that if your parents want to apply for a FFEL PLUS Consolidation Loan, no credit checks are required. If they want to apply for a Direct PLUS Consolidation Loan, they are subject to a check for adverse credit history.

Repayment period

Repayment of Student Consolidation Loans begins within 60 days of the disbursement of the loan. The payback term ranges from 10 to 30 years, depending on the amount of education debt being repaid and the repayment option you select. Education loans not included in the Consolidation Loan are considered in determining the maximum payback period. You may elect to repay your loans under a shorter period than the maximum allowed.

All the FFEL repayment plans are available to FFEL Consolidation Loan borrowers. For Direct Consolidation Loan borrowers, most of the Direct Loan repayment plans are available, except that Direct PLUS Consolidation Student Loan are not eligible to be repaid under the Income Contingent Repayment Plan and might not be eligible for some discharge/cancellation benefits. Check with the holder of your Student Loan.
You can also read more about repayment plan choices in the Repaying Your Student Loan section of Funding Education Beyond High School: The Guide to Federal Student Aid.

• Fees – Borrowers who consolidate a Student Loan will not pay any application fees or prepayment penalties.
• Credit checks – Unde a FFEL Consolidation Student Loan, no credit checks are required, even for PLUS borrowers. Under Direct Loan consolidation, PLUS borrowers are subject to a check for adverse credit history.

Always Consider the Cost

You should keep in mind that although Student Loan consolidation can simplify loan repayment and lower your monthly payment, it also can significantly increase the total cost of repaying your Student Loan. Student Loan Consolidation offers lower monthly payments by giving borrowers up to 30 years to repay their loans. So, you'll make more Student Loan payments
and pay more in interest. In fact, in some situations consolidation can double your total interest expense. If you don't need monthly payment relief, you should compare the cost of repaying your unconsolidated loans against the cost of repaying a consolidation loan. You also should take into account the impact of losing any borrower benefits offered under Student Loan non-consolidated repayment plans. Borrower benefits, which may include interest rate discounts, principal rebates, or some Student Loan cancellation benefits can significantly reduce the cost of repaying your loans. Once made, Federal Student Consolidation Loans cannot be unmade. That's because the Student Loan that was consolidated has been paid off and no longer exist. Take the time to study your Student Loan consolidation options before you submit your application.

Government Money Club on the Student Loan Consolidation process.

College Grants

College grants are awards offered from a government agency to help you pay for your tuition. The best thing about college grants is that they don't need to be paid back. The hardest part about receiving college grants is to locate them, and then apply for them. The Government Money Club provides the solution that you need. A database of over 10,000 government money programs, and free help to locate qualifying programs, and then apply for them.

Which College Grants Are Available?

• Direct College Grants – These are grants in which you directly apply to the federal government.
• Pass-Through – These are college grants in which the state applies to the federal government, the government receives the college grant, and then it is passed back to the state.

Who Offers these College Grants?

Over 1,000 college grant programs are offered by 26 federal agencies. One such government agency is the Department of Education. Pell Grants are the most widely distributed and popular grants. They are awarded to undergraduate students enrolled in a degree program. Occasionally they are granted to students enrolled in a graduate teacher certification program. In addition to the Pell Grant there are three other major federal college grant options:

• The Academic Competitiveness Grant (ACG)
• Federal college grants offered to freshmen and sophomore undergraduate students.
• The Federal Supplemental Educational Opportunity Grant (FSEOG)
• Federal college grants awarded to low-income undergraduate students to help them continue on to graduate school.
• The National Science & Mathematics Access to Retain Talent Grant (National SMART Grant)
• Federal college grants offered to juniors and seniors majoring in physical, life or computer sciences, mathematics, technology, engineering or in a foreign language deemed critically important to national security.

These federal college grants are offered by the U.S. Department of Education and have various award amounts and eligibility requirements. You will get paid in one of three ways: First you can be paid directly by check. Or, it can be credited to your school account. The third option is a combination of check and having the money credited to your school account. The amount you receive from your Pell Grant is determined by for factors. First, Your enrollment status. Weather you are full-time or part-time in school. Second, whether you are attending the school for a full term or not. Third, your expected family contribution (EFC). And last, the cost of your college tuition.

The best place to find a grant is to look at the Government Money Club. They will help you find a suitable program, get the application, complete it properly, and to submit it to the government program. College grants are out there waiting for you. Check out the Government Money Club and you will be on your way to a great education.

College Grants by Government Money Club