The Scary Truth About Student Loan Borrowers

student loan borrowers

Earlier this month, LendEDU, a marketplace for student loans and student loan refinancing, decided to survey college student loan borrowers at a nearby college to see how much they knew about their student loan debt. Over the course of a couple days of surveying they confirmed their suspicions. Most of our nation’s current college students don’t understand their student loans or the financial aid process. With permission, they filmed some of the respondents while they asked them a series of questions related to their student loan debt.

At the end of our survey LendEDU decided to package together some of their favorite survey responses into one short video.

Will your child be one of these student loan borrowers?

As a parent, not only will you find this video eye opening and entertaining, but just a bit scary. Educate your student about student loan debt before he signs those financial aid award documents.

For more information on student loans, click here.

Creative Scholarships with February Deadlines

 

creative scholarships

Most Fridays I like to highlight scholarships and this week is no exception. You’ve heard me say that there are scholarships available for all types of students, even if they aren’t A+ students, athletes or student leaders. Today’s scholarships are for those students who exhibit creativity and talent in the arts. The deadlines are mid-late February, giving your student plenty of time to submit an application.

Courageous Persuaders Video Competition

Amount: Up to $2,000

This creative contest is open to high school students in grades 9-12 who create a commercial targeted at middle school students warning about the dangers of underage drinking.

Deadline: Feb. 11, 2016

BMI Student Composer Awards

Amount: Up to $5,000

This award is open to citizens of a country in the Western Hemisphere who are enrolled in a college, conservatory of music, or the private study of music with an established teacher. Students must submit an original composition.

Deadline: Feb. 15, 2016

John Lennon Scholarship

Amount: Varies

To apply, the applicant must be a current student or alumna of a U.S. college or university who is between the ages of 17 and 24 at the time of submission and submit an original song with lyrics accompanied by instrumentation.

Deadline: Feb. 15, 2016

Love Letters Scholarship

Amount: $5,000

Description: Applicant must be 26 years of age or younger and create homemade valentine’s cards for senior adults and give to Meals on Wheels for delivery by Feb. 10, 2016. Students will receive one entry for the first card donated, and an additional entry for every additional three (3) cards donated.

Deadline: Feb. 15, 2016

The Christophers’ Poster Contest for High School Students

Amount: Up to $1,000

Contest is open to students in grades 9-12. Student must create an original poster based on the theme, “One Person Can Make a Difference.”

Deadline: Feb. 17, 2016

Create-A-Greeting-Card Scholarship Contest

Amount: $10,000

This scholarship contest is open to all high school, college and university students enrolled at any time during the latter half of 2015. Applicant must submit a photo, artwork or computer graphic for the front of a greeting card.

Deadline: Feb. 25, 2016

Student Video Contest

Amount: Up to $1,000

Open to students in grades 6-12 who create a short video about the human population growth that highlights one of the given global challenges.

Deadline: Feb. 25, 2016

The Atlantic & College Board Writing Prize

Amount: Up to $5,000

This contest is open to students 16-19 years of age who submit an essay based on a work of art of their choosing.

Deadline: Feb. 28, 2016

 

TeenLife Live Event

teenlife live

TeenLife LIVE  is finally here!

Their first ever virtual fair is this Sunday 1/31!

They have 30+ exhibitors, 12 speakers, and 2 sponsors (Microsoft and Fathom) and some really cool giveaways (including a free cruise and surface tablet).

The virtual event covers programs and topics that you care about: College Prep, Summer, Gap, Community Service, STEM, and Health & Wellness. Ask experts questions and live chat with program leaders in each of these areas from the convenience of your laptop, tablet, or phone.

When: Sunday, January 31, 2016 from noon to 6pm.

Where: http://teenlifelive.collegeweeklive.com

What are you waiting for? Register now!

For more information, read this blog post and the FAQ page

10 Criteria to Narrow Down Your College List

 

college list

There are over 4000 four-year colleges in the United States and another 1900 community colleges. Choosing a college can be overwhelming if you don’t narrow down the choices with this simple list of basic criteria. Once you’ve narrowed down the college list, you can get more selective and specific with your final choices.

Here is a list of 10 choice criteria to consider:

  • Your study preferences—Are they more comfortable in a structured class or do you excel doing independent study? Do you require academic challenge or prefer in-class time with little or no additional study?
  • Money—Your budget plays a huge factor in the decision process. If your budget is tight, will you consider student loans? And if so, will an expensive private university be worth the debt?
  • Size—Do you want small class size or does it matter? Does being part of a large student body appeal to you or would they prefer a small college atmosphere?
  • Location—Do you want to go away to college or stay close by so you can live at home? Are you looking for a cultural experience that a big city offers or a down home experience provided by a small town college?
  • Extracurriculars—Are you set on joining a sorority or a fraternity? Are these offered at the colleges you are considering? Are there other activities that you feel are crucial to having a positive college experience (i.e. working on a campus newspaper, participating in intramural sports, studying abroad)?
  • Academics—Is there a specific major you are interested in or will a liberal arts degree do? Not every university offers the same academic disciplines.
  • Career focus—Do you want to study the culinary arts or fashion design? Consider a school that offers these types of specialized degrees.
  • Sports—Does the school have a huge sports program or do sports play little impact in your decision?
  • Competitive vs Non-competitive—Do you have the resume that will ensure acceptance in a competitive college like Stanford or Penn State? Or do you have a strong academic showing that would send you to the top of the list at a non-competitive college and qualify you for a full scholarship?
  • Specialized programs—Do you want to work in the stock market? Does the school offer a trading room? What about internships, undergraduate research, service learning, and even specialized senior capstone projects (integrating and synthesizing what you have learned).

The college list should be loosely formed by the start of senior year. Juniors should be focusing on college visits and start working on their list. Seniors should review this list and once offers of admission arrive, use it to make the final choice.

Website Pick: My Academic Program

 

my academic program

Today’s website pick is a new site for students allowing them to create an academic portfolio: My Academic Program.

According to its founder, JD Parkman, “Our focus from day 1 was to provide students with a cost-to-benefit of obtaining a degree. We do this by taking the actual costs of obtaining a degree and compare the financial loan information to project early/mid/late career earnings.”

The site allows student to explore unbiased college data and rankings, build a portfolio so colleges can find you, and connect with colleges to increase your admissions odds. You can find your perfect match college by telling your story so you are seen as more than a test score.

This new website is student-focused and focuses on providing students with the best information to make a wise financial choice regarding colleges.

Website Pick: Interactive College Dashboard by InetSoft

 

Today’s website pick is an interactive college dashboard allowing you to narrow down the college list using Forbes Top Colleges of 2015. It’s user friendly and allows you to narrow down your choices by using specific criteria.

interactive college dashboard

Ever wished you could narrow down your list of colleges to apply to? This interactive dashboard displays Forbes rankings of America’s top colleges for the year 2015. Narrow down the list of 650 schools by filtering on state, URL, population, and gender rates. Data can further be evaluated by restricting SAT scores, ACT scores, costs, percentages of financial aid per college, student populations, and student faculty ratios. For some schools, the dashboard displays Forbes Financial’s ratings, as well as the region/states of various different colleges presented in the dashboard. Now students can narrow down their top schools of choice with a few clicks of a mouse!

You can move your mouse over a state and immediately see how many of Forbes Top Colleges are in the state, and by clicking on the state itself you will see the actual list, along with website links and pertinent data. While I don’t normally recommend using a one particular list to narrow down your college choices, this tool can be used to view colleges that might be on your list.

Follow this link to use this interactive tool: https://visualizefree.com/public.jsp?id=BXMCGBLJ

Website Pick: Make Me a Freshman-A Free Tool for Organizing College Applications

 

This week, I’m highlighting some new tools and websites that will help parents and students during the college prep process. Today’s pick is Make Me a Freshman, a tool students can use to organize the college application. I asked them to send me more information on their site and how it works:

make me a freshman

Confused by the college application process? One reason that applying to college can seem so complicated is that every college has its own set of forms and deadlines, and it is not always easy to understand exactly what you must do to apply to all of your colleges.

That’s where Make Me a Freshman can help. With this free website, you simply choose your colleges, and the website generates a checklist with all of your specific requirements and deadlines, broken down to include everything you need to know, from teacher recommendations to interviews to standardized testing requirements.

The website also includes information about financial aid, explaining how and when to apply for federal aid, state aid, and college-specific aid. For example, most colleges have a priority deadline for submitting the FAFSA, the Free Application for Federal Student Aid, and Make Me a Freshman will show you the date you should submit your FAFSA in order to maximize your financial aid for all the colleges on your list. You can also set preferences about early decision versus regular decision deadlines, and you can see information about college-specific scholarships and honors programs. Plus, to help you stay on track, you will get reminders about upcoming tasks.

Here’s a screen shot of what the actual checklist would look like.

make me a freshman

 

In a recent Forbes interview, Make Me a Freshman was asked the question:

How does MMAF differ from and perhaps better than other college-search websites that already exist?

Make Me a Freshman is more personalized and comprehensive than existing websites. Unlike many other websites, Make Me a Freshman will not just tell users when the main application is due; users will get a checklist with all of the forms they need, including teacher recommendations, school reports, interviews, and more. Plus, we integrate financial aid and standardized testing tasks. Additionally, our algorithms factor in all of a user’s colleges.

Make Me a Freshman provides one spot for you to understand and organize everything you must do to apply to your colleges and for your financial aid—all for free. Check it out at MakeMeAFreshman.com

From FAFSA to Financing: Financial Aid 101

financial aid 101

As part of NBC News’ Education Nation initiative and our Parent Toolkit site, my team hosts a monthly Twitter Chat about a variety of different education and parenting topics.

On Tuesday, January 19 at 7 pm EST we will be cohosting our monthly #ToolkitTalk conversation with the First Lady’s Reach Higher Initiative called From FAFSA to Financing: Financial Aid 101.  The chat will focus on information that high school students and their parents need to know about affording a college education.  Our featured guests will include the National School Counselor of the Year and representatives from the Federal Student Aid Office.

Join me and @EducationNation and others discussing tips for parents regarding financing a college education.

Test Prep Week: The Best Test Prep Tips

 

test prep tips

We’re going to close out Test Prep Week with some test prep tips. I’m certainly not a test prep expert, but I do know where to find the best test prep tips. The key to any standardized test is preparation. Add to that knowledge of how the test works and the formulas you should know, your student should be prepared to take the test with confidence when the time comes.

Here are some excellent tips that should help your student prepare for standardized tests, both SAT and ACT.

21 SAT Tips and Tricks You Must Use

Samantha Lindsay of SAT Strategies provides a comprehensive, step-by-step list of tips broken down by section. From basic rules, to math tips, to reading tips, to writing tips, she gives students a game plan to follow during the test. This is the ultimate test prep.

Read the complete article

5 Tips for Higher SAT Scores

In Higher Scores Test Prep podcast episode, you will learn five test strategy tips for the SAT.

Listen to the podcast

5 Tips for Higher ACT Scores

In Higher Scores Test Prep podcast episode, you will learn five test strategy tips for the ACT.

Listen to the podcast

6 Tips for ACT Success

These six tips will help your student understand the inner workings of the ACT. The article breaks down each section, giving tips on how to better prepare and tackle each one.

Read the complete article

Last Minute SAT Tips

Alexis Avila of Prepped and Polished gives his best tips for SAT test takers. These tips will not only help you prepare for the test by giving tips on its content, but help you prepare for test-taking day.

Read the entire article

As with any test, preparation is key. You can’t expect to do well if you don’t prepare. Encourage your student to create a study plan and stick to it. Going into a test prepared will make a huge difference on the test results.

For more test prep tips read:

Should you hire a test prep tutor?

Where do I find free test prep?

Can test prep help you win scholarships?

Questions about the new SAT

Test Prep Week: Where Do I Find Free Test Prep?

 

free test prep

In the last few days we’ve talked about the importance of test prep: should you hire a test prep tutor, can test prep help you win scholarships, and questions about the new SAT. But what  do you do if you’re strapped for cash and can’t afford do pay for a tutor? The good news is there is free test prep available and if your student is committed to studying and evaluating, they can still count on positive test score results.

Below are just a few free test prep resources available for students. But remember that the success of these self study programs depends on your student’s willingness to take it seriously.

Lauren Gaggilio

Lauren of Higher Scores Test Prep was a recent guest on #CampusChat and remixed parents that she offers a free mini course for the PSAT and a free one hour (no obligation) consultation to ask questions and pick her brain. For more tips from Lauren, click here to get the transcript of the chat.

eKnowledge

I have patterned with eKnowledge to offer a free SAT/ACT test prep program. The only catch is you have to pay minimal shipping costs. The prep is extensive and we’ll worth the cost. The SAT or ACT PowerPrep™ Program comes in a single DVD, and includes more than 11 hours of video instruction and 3000 files of supplemental test prep material, thousands of interactive diagnostic tools, sample questions, practice tests and graphic teaching illustrations.  Students select the training they need and can study at their own pace

Khan Academy

With Khan Academy you can download a real, full-length SAT practice test, watch videos that work through real SAT problems with step by step solutions, and get even more practice using their interactive questions.

ACT Student

Since most experts are recommending students take the ACT until the new technology is ironed out, you can get free test prep on their site. They provide real ACT retired tests, sample test questions, test tips and test descriptions.

Chegg

Chegg offers a free interactive ACT test prep program. You can watch videos, read lessons or do practice problems and learn at your own pace. You get instant scores and detailed explanations on every test problem. This is free while the beta lasts, so act now.

Bottom line: self test prep is effective only if your student is committed to a study plan, reviewing the strengths and weaknesses, and evaluates each question he answered incorrectly.

Helping parents navigate the college maze