{"id":311,"date":"2010-10-01T08:43:05","date_gmt":"2010-10-01T12:43:05","guid":{"rendered":"https:\/\/blog.bradpine.com\/?p=311"},"modified":"2013-01-29T14:24:00","modified_gmt":"2013-01-29T19:24:00","slug":"a-winning-strategy-for-college-scholarships","status":"publish","type":"post","link":"https:\/\/blog.bradpine.com\/2010\/10\/01\/a-winning-strategy-for-college-scholarships\/","title":{"rendered":"A Winning Strategy for College Scholarships"},"content":{"rendered":"
<\/strong><\/a>Which sports team do you think will have a better chance of winning the championship: One that\u2019s been preparing and strategizing for years, or the team that was put together in a few months? The answer seems obvious, and yet many people don\u2019t realize just how critical it is to start planning early on for their children\u2019s college costs. The reality is that this could be one of the biggest expenses of your life! If you haven\u2019t been able to save enough or if your investments haven\u2019t performed, then you will need to look at other options.<\/p>\n One possible source of funding is scholarships, and the good news is that scholarships are everywhere! Are you a single mother? Is your child an avid skateboarder, or does he or she have a unique name? There is a seemingly endless supply of scholarships, some based on financial need or merit and others on personal interest or demographics. With some effort, you are likely to find at least a few scholarships that are worth applying to.<\/p>\n Of course, with so many options, you need to take a systematic and organized approach to searching for scholarships, and you need to start early<\/span>. As soon as your child\u2019s freshman year of high school, start familiarizing yourself with the scholarship application process and the websites devoted to helping you find them. Not only will starting early help you avoid stress later on, it will give you the opportunity to structure some of your child’s activities around any specific criteria provided. This will increase your odds of being awarded that major scholarship!<\/p>\n But don\u2019t just do this on your own: Involve your kids! If they\u2019re anything like mine, they are much more web-savvy than we are and could probably teach us a thing or two about finding scholarships on the internet. Be upfront and explain the necessity of the process, and then treat it like a business.<\/em> That\u2019s right: Have goals, schedule regular meetings, and hold each other responsible for finding scholarships and applying on time. Our children spend so much time texting, hanging out with their friends, on the computer, and playing video games; instead, ask them to devote 10 percent of this leisure time to scholarship searches and hold them accountable for this time. By being proactive and organized, you can avoid the stress of trying to do everything at the last minute and missing out on opportunities.<\/p>\n To help keep them excited, start taking your child on college visits at the beginning of high school, when you begin searching for scholarships, so they can see what they\u2019re striving for. This experience will also provide a good foundation for starting the college application process later on. My daughter just started ninth grade, and this summer we took a trip to visit Boston College, Boston University, and Harvard Square. Because it\u2019s so early, we were able to be relaxed and enjoy the start of our college planning!<\/p>\n \u00a0Approach your college applications strategically as well. Remember: Just because a school is ranked #1, it doesn\u2019t mean it\u2019s going to provide the best educational experience for your child. That status school could also put you in major debt! There are plenty of great schools that aren\u2019t at the top of the rankings, and they may also provide significant financial aid or merit scholarship opportunities. How can you find out about a school\u2019s generosity? There\u2019s a fantastic tool on Collegeboard<\/span><\/a><\/span>\u00a0<\/span>that can help. From the homepage, type the school\u2019s name into the search box and, once you\u2019ve arrived at the school\u2019s profile, click on \u201cCost and Financial Aid.\u201d This page will give you a wealth of information about the extent of needs-based and merit assistance the school provides. Focus on this issue and on the type of learning environment your child will encounter. From there, apply to the schools that offer both the best value and the best experience. Don\u2019t get caught up in the brand name frenzy!<\/p>\n When you put together your lists of schools, try to have at least a few schools in each of these categories: The \u201cWish List\u201d, which will be more difficult to get into; the realistic list, for which your child is a good competitor; and the safe schools, which are extremely likely to admit your child. This will help you to prevent putting all your eggs in one basket and will provide a framework for seeking and comparing funding packages.<\/p>\n As you finalize the list, keep in mind that issues such as gender statistics can affect the type of aid offered, as the university may be trying to increase the number of boys or girls. Also, never underestimate the school\u2019s endowment: While many people think that private schools are always more expensive, they are also more likely to tap into endowments to offer competitive aid packages.<\/p>\n Finally, your child may also want to consider transferring into a four-year university after spending two years at a community college. This route can save you an enormous amount of money, and many universities specify which courses your child should take in order to merit a transfer. Remember, graduation day will be the same great experience, and your child\u2019s degree will not mention that he or she was a transfer student!<\/p>\n As a final note, keep in mind that this should be fun. This is an extremely exciting time for you and your child, and it\u2019s a chance to teach them a vital lesson about preparation and avoiding debt.<\/p>\n Need some help getting started? Here are some websites that you may find helpful!<\/p>\n Fastweb<\/span><\/a><\/span><\/p>\n Collegeboard<\/span><\/a>\u00a0<\/span><\/span> \u00a0<\/span><\/p>\n For scholarships at Collegeboard, search here:\u00a0<\/span>\u00a0Collegeboard Scholarships<\/span><\/a><\/span>\u00a0 <\/span><\/span><\/p>\n College Answer<\/span><\/a><\/span><\/p>\n Scholarship Coach<\/span><\/a><\/span><\/p>\n As you expand your search and find other websites that can help, remember to avoid sites that charge you to search for scholarships.<\/p>\n .<\/p>\n .<\/p>\n To learn about retirement savings, download my free eBook, \u201c10 Tips You Need to Know About Your IRA Rollover<\/a>.\u201d This short book is packed with critical information that will help you make the right decisions about your retirement savings.Tip 1: Start Early<\/b><\/span><\/h2>\n
Tip 2: Scholarships are a Family Business<\/b><\/span><\/h2>\n
Tip 3: Show Your Child What She\u2019s Aiming For!<\/b><\/span><\/h2>\n
Tip 4: Take a Holistic Approach to Choosing Schools<\/b><\/span><\/h2>\n
Tip 5: Be Strategic About Financial Aid<\/b><\/span><\/h2>\n
Tip 6: Have Fun <\/b><\/span><\/h2>\n
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