OK guys this guide is for those of us currently enrolled or will be for future semesters. Seeing as how school is starting & there’s a high school forum (wish I had that back in the day) there is nothing geared toward us in college. There is an e book running around online called “Conquer Your Campus” but its hard to get a hold of. I basically wanted to cover everything that should be known at least for us Don Juans.
Topic List:
(Topic)
Choose Your School
So you’ve done it! You have finally finished high school!!! If you thought girls were hard to get be prepared cause it gets way easier. College is a lot different than High School but their are similarities. First it’s highly suggested that your careful what school you ultimately choose as your Alma mater. While most universities are known for their strong academic backgrounds (University of Michigan School of Business, Harvard Law, etc) don’t be afraid to apply at your local Community College. Most community colleges have the same course work as the universities and for a cheaper price to. Along with your school most of the counselors and faculty will want you to declare your major. While its good not to rush into a major (Nursing or Education) just take into consideration the longer you wait to decide, the more money + time you’ll be wasting in school. Choosing your Major & School really comes down to your personally & interest. If your still undecided I’d highly suggest taking Intro to Business, Career Guidance or something similar. Some high schools give college credit for classes in high school. Once you know what schools you wish to attend you can move on too...
Financial Aid & Tuition
**MAKE SURE YOU KNOW EXACTLY HOW MUCH YOUR SCHOOL WILL COST**
College like everything else cost money. The good news is that based upon either your high school sports or grades most colleges will offer you scholarships just to attend there school. How cool would that be for a school to have to PAY YOU to take classes. Now you have a couple options:
1) Scholarships
2) Pay out of pocket through work, friends & family
3) Financial Aid, Grants Loans
Option 1)
Here’s a site for scholarships. Be advise that most scholarship awards have deadlines based on your schools deadline date. http://www.scholarships.com/
Option 2)
If your paying out of pocket check with your schools Financial Aid Office.
Option 3)
If your like most most students you may qualify for Government Assistance
Before your school can even start your Financial Aid package your going to have to set up your FAFSA
(Free Application for Federal Student Aid) at http://www.fafsa.ed.gov/.
Now after setting that up you need to know about the different types of Loans & Grants.
First Grants DO NOT have to be paid back. But LOANS DO!!!
1. Subsidized Federal Loans
Federal Stafford Loans are awarded based on financial need. Regulated by the federal government, these loans can be acquired from banks, credit unions or directly from the federal government itself. Subsidized Federal Stafford Loans are some of more popular tools used to help pay for a college education. They are long-term and based upon need. They carry a low-interest rate and are subsidized in that the government will pay loan interest while students are in school or if a deferment request is made. *The safest way to go IMO*
2. Unsubsidized Federal Loans
An Unsubsidized Stafford Loan is another long-term loan that is not based on need. Unsubsidized means that the loan interest will be the responsibility of the borrower as opposed to the government, as is the case with a subsidized loan. In some cases, it is possible to postpone payments. These loans carry a low-interest rate and are best for students who don't qualify for other financial aid. They are also good for those who still need more aide money to cover expenses. Just about all households will qualify. Additional Unsubsidized Stafford Loans are for borrowers classified as independent students under Federal guidelines.
3. Federal Plus Loans
Federal Plus Loans are for parents whose children attend college in full or half-time undergraduate situations. Awarded based on credit history and attendance cost, the interest rates are low. Repayment generally begins within 60 to 90 days upon full loan disbursement or after students graduate. These loans are usually used to help absorb remaining college costs after other kinds of financial aid are used since the maximum loan amounts and interest rates can be applied to both undergraduate and graduate studies, on a Direct Loan or other repayment terms.
4. Federal Perkins Loans
Federal Perkins Loans are some of the most desirable for both undergraduate and graduate studies. Awarded based on extreme financial need, they have very low interest rates and total funds for disbursement is limited. This means that the loan amount will also be low. The interest is designed to start to accrue nine months after students drop below half-time enrollment or graduate. These loans are reported to credit bureaus, so late payments and defaults are documented and have the potential to damage credit.
5. Private Lenders
Private lenders offer a variety of loan products that are based on prime interest rates. Designed to be competitive, it is advisable to shop around to get the best rates. Banks and loan companies usually offer their student loans at lower interest rates. Each financial institution is different. Be sure to understand all of the terms and conditions for every loan before you commit to anything. *Howver most of these loans are very tough to get approved for since many students already don’t have the credit history to even obtain the loan. The majority of these loans require a co-signer especially one with an already established credit history
GRANTS
NEVER HAVE TO BE REPAID!! & usually you have to fit certain “criteria” to even be eligible
Federal Pell Grant
The most common. This grant is based entirely on financial need. Every student attending an accredited college or university who has not yet earned a bachelor's degree is eligible. The grant offered is equivalent to the number of credit hours a student has enrolled in each semester, up to the amount of need. To apply for the Federal Pell Grant, students and parents must fill out a Free Application for Federal Student Aid (FAFSA). As of the 2009 - 2010 school year, the maximum grant is $5,350 US Dollars (USD).
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is offered to students with the most financial need. Students are not automatically eligible as with the Federal Pell Grant. The amount offered is based on financial need as well as funding available and financial aid policies at individual schools. Since FSEOG funds are limited, those who apply first are most likely to receive this grant. As of the 2008 - 2009 school year, the amounts offered are between $100 USD and $4,000 USD.
Academic Competitiveness Grant (ACG)
The ACG is available for first and second year students who are also receiving a Federal Pell Grant. This grant falls under the academic college grants category. First year students must have completed a qualifying high school program after 1 January 2006. Second year students must have completed a qualifying high school program after 1 January 2005 and maintained a grade point average of at least 3.0 on a 4.0 scale in the first year of college study. As of the 2008 - 2009 school year, first year students are eligible for up to $750 USD, and second year students are eligible for up to $1,300 USD.
National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)
The National SMART Grant is offered to third and fourth year students majoring in specific subjects. Students must be eligible for a Pell Grant as well as have maintained a 3.0 grade point average. As of the 2008 - 2009 school year, the maximum grant is $4,000 USD.
Teacher Education Assistance for College and Higher Education (TEACH) Grant
The TEACH Grant is available for both undergrad (no Bachelor Degree) and graduate (students enrolled in courses that will lead to teaching positions at elementary and secondary schools. Recipients must sign an agreement to teach for four years at a school in a teacher shortage area that serves low-income families. As of the 2008 - 2009 school year, the maximum grant is $4,000 USD.
Housing
You need to decide whether your going to live on or off campus.
On Campus
Pros -
Self explanatory. Your near all campus events (which means access to more girls for YOU)
Very hard to be late for classes
Save Gas Money
Meal Plan through School
Guaranteed place to live as oppose to finding a place
Basically less responsibility
Cons -
No privacy
Hard to Cook Your Own Food & Meal plans can add up quick
Can be loud especially studying for exams
Random Roommates (you may or may not like them & vice versa)
Off Campus
Pros – Total Freedom
Your own place you make the rules (unless you have roommates)
Basically the cons of living on campus are the pros of having your own place
Cons -
Ultimate Responsibility since you pay Rent, maybe water or electric, Cable, Food and the list goes on.
Basically you pay everything unless you live with parents or roommates.
(Which you should save money in that case but more on that later)
Topic List:
(Topic)
Choose Your School
So you’ve done it! You have finally finished high school!!! If you thought girls were hard to get be prepared cause it gets way easier. College is a lot different than High School but their are similarities. First it’s highly suggested that your careful what school you ultimately choose as your Alma mater. While most universities are known for their strong academic backgrounds (University of Michigan School of Business, Harvard Law, etc) don’t be afraid to apply at your local Community College. Most community colleges have the same course work as the universities and for a cheaper price to. Along with your school most of the counselors and faculty will want you to declare your major. While its good not to rush into a major (Nursing or Education) just take into consideration the longer you wait to decide, the more money + time you’ll be wasting in school. Choosing your Major & School really comes down to your personally & interest. If your still undecided I’d highly suggest taking Intro to Business, Career Guidance or something similar. Some high schools give college credit for classes in high school. Once you know what schools you wish to attend you can move on too...
Financial Aid & Tuition
**MAKE SURE YOU KNOW EXACTLY HOW MUCH YOUR SCHOOL WILL COST**
College like everything else cost money. The good news is that based upon either your high school sports or grades most colleges will offer you scholarships just to attend there school. How cool would that be for a school to have to PAY YOU to take classes. Now you have a couple options:
1) Scholarships
2) Pay out of pocket through work, friends & family
3) Financial Aid, Grants Loans
Option 1)
Here’s a site for scholarships. Be advise that most scholarship awards have deadlines based on your schools deadline date. http://www.scholarships.com/
Option 2)
If your paying out of pocket check with your schools Financial Aid Office.
Option 3)
If your like most most students you may qualify for Government Assistance
Before your school can even start your Financial Aid package your going to have to set up your FAFSA
(Free Application for Federal Student Aid) at http://www.fafsa.ed.gov/.
Now after setting that up you need to know about the different types of Loans & Grants.
First Grants DO NOT have to be paid back. But LOANS DO!!!
1. Subsidized Federal Loans
Federal Stafford Loans are awarded based on financial need. Regulated by the federal government, these loans can be acquired from banks, credit unions or directly from the federal government itself. Subsidized Federal Stafford Loans are some of more popular tools used to help pay for a college education. They are long-term and based upon need. They carry a low-interest rate and are subsidized in that the government will pay loan interest while students are in school or if a deferment request is made. *The safest way to go IMO*
2. Unsubsidized Federal Loans
An Unsubsidized Stafford Loan is another long-term loan that is not based on need. Unsubsidized means that the loan interest will be the responsibility of the borrower as opposed to the government, as is the case with a subsidized loan. In some cases, it is possible to postpone payments. These loans carry a low-interest rate and are best for students who don't qualify for other financial aid. They are also good for those who still need more aide money to cover expenses. Just about all households will qualify. Additional Unsubsidized Stafford Loans are for borrowers classified as independent students under Federal guidelines.
3. Federal Plus Loans
Federal Plus Loans are for parents whose children attend college in full or half-time undergraduate situations. Awarded based on credit history and attendance cost, the interest rates are low. Repayment generally begins within 60 to 90 days upon full loan disbursement or after students graduate. These loans are usually used to help absorb remaining college costs after other kinds of financial aid are used since the maximum loan amounts and interest rates can be applied to both undergraduate and graduate studies, on a Direct Loan or other repayment terms.
4. Federal Perkins Loans
Federal Perkins Loans are some of the most desirable for both undergraduate and graduate studies. Awarded based on extreme financial need, they have very low interest rates and total funds for disbursement is limited. This means that the loan amount will also be low. The interest is designed to start to accrue nine months after students drop below half-time enrollment or graduate. These loans are reported to credit bureaus, so late payments and defaults are documented and have the potential to damage credit.
5. Private Lenders
Private lenders offer a variety of loan products that are based on prime interest rates. Designed to be competitive, it is advisable to shop around to get the best rates. Banks and loan companies usually offer their student loans at lower interest rates. Each financial institution is different. Be sure to understand all of the terms and conditions for every loan before you commit to anything. *Howver most of these loans are very tough to get approved for since many students already don’t have the credit history to even obtain the loan. The majority of these loans require a co-signer especially one with an already established credit history
GRANTS
NEVER HAVE TO BE REPAID!! & usually you have to fit certain “criteria” to even be eligible
Federal Pell Grant
The most common. This grant is based entirely on financial need. Every student attending an accredited college or university who has not yet earned a bachelor's degree is eligible. The grant offered is equivalent to the number of credit hours a student has enrolled in each semester, up to the amount of need. To apply for the Federal Pell Grant, students and parents must fill out a Free Application for Federal Student Aid (FAFSA). As of the 2009 - 2010 school year, the maximum grant is $5,350 US Dollars (USD).
Federal Supplemental Educational Opportunity Grant (FSEOG)
The FSEOG is offered to students with the most financial need. Students are not automatically eligible as with the Federal Pell Grant. The amount offered is based on financial need as well as funding available and financial aid policies at individual schools. Since FSEOG funds are limited, those who apply first are most likely to receive this grant. As of the 2008 - 2009 school year, the amounts offered are between $100 USD and $4,000 USD.
Academic Competitiveness Grant (ACG)
The ACG is available for first and second year students who are also receiving a Federal Pell Grant. This grant falls under the academic college grants category. First year students must have completed a qualifying high school program after 1 January 2006. Second year students must have completed a qualifying high school program after 1 January 2005 and maintained a grade point average of at least 3.0 on a 4.0 scale in the first year of college study. As of the 2008 - 2009 school year, first year students are eligible for up to $750 USD, and second year students are eligible for up to $1,300 USD.
National Science and Mathematics Access to Retain Talent Grant (National SMART Grant)
The National SMART Grant is offered to third and fourth year students majoring in specific subjects. Students must be eligible for a Pell Grant as well as have maintained a 3.0 grade point average. As of the 2008 - 2009 school year, the maximum grant is $4,000 USD.
Teacher Education Assistance for College and Higher Education (TEACH) Grant
The TEACH Grant is available for both undergrad (no Bachelor Degree) and graduate (students enrolled in courses that will lead to teaching positions at elementary and secondary schools. Recipients must sign an agreement to teach for four years at a school in a teacher shortage area that serves low-income families. As of the 2008 - 2009 school year, the maximum grant is $4,000 USD.
Housing
You need to decide whether your going to live on or off campus.
On Campus
Pros -
Self explanatory. Your near all campus events (which means access to more girls for YOU)
Very hard to be late for classes
Save Gas Money
Meal Plan through School
Guaranteed place to live as oppose to finding a place
Basically less responsibility
Cons -
No privacy
Hard to Cook Your Own Food & Meal plans can add up quick
Can be loud especially studying for exams
Random Roommates (you may or may not like them & vice versa)
Off Campus
Pros – Total Freedom
Your own place you make the rules (unless you have roommates)
Basically the cons of living on campus are the pros of having your own place
Cons -
Ultimate Responsibility since you pay Rent, maybe water or electric, Cable, Food and the list goes on.
Basically you pay everything unless you live with parents or roommates.
(Which you should save money in that case but more on that later)