Caveat Emptor or Buyer Beware 16: Submit Applications Punctually

Saturdays we share a tip or caution to facilitate getting scholarships or avoiding problems

Susan sought scholarships. She started looking for them during her sophomore year of high school. She completed the profiles on three search engines. They indicated that she qualified for more than 570 scholarships and contests. She cleared the marginal ones, the surveys, and the contests. That left only 120. Unfortunately, she stopped doing anything and didn’t start applying until the last semester of her senior year. As a result, she only had 35 left on her list. The deadlines had passed on all the others.

Scholarship Application Deadlines

All scholarships list a date or deadline after which they no longer accept applications. You must apply by the deadline date. Remember the following concepts as you think of applying. Some scholarships:

• List the results from search engines by the deadline dates making it easier to remember when to apply
• Accept applications only once a year
• Accept applications multiple times a year and require a new application for each time
• Only award scholarships to students in certain years of school
• Close their web site once the deadline date passes
• Award their money on a first come, first serve basis with no deadline date

Don’t Wait Until the Last Moment

We find many people procrastinate applying for scholarships. They wait until their senior year to start applying for scholarships. You could miss earning tens of thousands of dollars by procrastinating the year you apply. For example, we have discovered more than:

• 85 scholarships that only award to sophomores in high school
• 212 scholarships that only award to juniors in high school
• 1,000s of scholarships that only award to seniors in high school

You may need money earlier than you anticipated. Most students recognize they must pay tuition at the beginning of the semester. They fail to anticipate additional costs such as housing deposits, lab fees, books, travel costs, furnishing apartments. They lack the money when they need it because they procrastinated applying when they should have applied.

Tuesday we describe the grants available to veterans and family of Iraq and Afghanistan

Reusable Materials 25: Changes for Scholarship Essays

Thursdays we discuss how reusable materials help you WOW committees and save time

Angela became very frustrated applying of scholarships. The results of her search engine profiles generated a list of 300+ possible scholarships, contests, and essays. Her excitement at the number of scholarships quickly turned to frustration as she started applying for the money. She described her frustration with the constant number of dead-ends, bogus offerings, and red herrings she constantly encountered.

Changes in Essay Topics

Scholarship committees frequently change the topics they require as part of your scholarship application. We’ve listed several topics in past blogs, but wanted to update the list with some questions we’ve seen this year. For example, the University of Georgia asks four short essay questions:

• Choose an intellectual or creative opportunity (for example, community involvement, a summer program, a unique project, travel abroad, etc.) from your high school years that you have enjoyed and highlight how you have grown personally because of the experience. Answer this question with your themes
• UGA's First Year Odyssey Program offers more than 300 seminar courses for new freshmen.  Some examples include "The History of Horseracing", "Einstein and the Theories of Relativity" and "The Zombie Plague".   If you could create your own seminar course at UGA in any subject area that interests you, what would it be? What would the course be named and what would you hope to learn?
• Tell us an interesting or amusing story about yourself that you have not already shared in your application. Answer this question with one of your themes
• Incredibly, you have just won a $100 million lottery.  To receive it, you must first earn a college degree.  How does this change your college experience?  How does it change your life after college?

Changes in Essay Requirements

We’ve seen several changes in essays:

• Another reduction in the required length of essays from 500 words to 200-350
• Most want you to paste them into a field on the application rather than post a PDF
• Continued emphasis on correct grammar, punctuation, and capitalization

Saturday we share a tip about timing for submitting your applications for scholarships

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Sources of Money 23: Federal 529 Savings Plans for Parents and Others

Tuesday’s we review a source of financial aid to help you pay for college

Bob and Margaret wanted to ensure that their grandchildren received a good education. Wise money management allowed them to pay off their mortgage early. They decided to add the majority of their old monthly payment to their retirement. However, they also wanted to give a portion to their grandchildren. They investigated several methods from CD’s, investments, and other instruments. They decided that the 529 Savings Plan best met their needs.

Characteristics of the Federal 529 Savings Plan

The US Securities and Exchange Commission states

“A 529 plan is a tax-advantaged savings plan designed to encourage saving for future college costs. 529 plans, legally known as ‘qualified tuition plans,’ are sponsored by states, state agencies, or educational institutions and are authorized by Section 529 of the Internal Revenue Code.”

Saving for College tells you

“529 plans are usually categorized as either prepaid or savings plans.

Savings Plans work much like a 401K or IRA by investing your contributions in mutual funds or similar investments. The plan will offer you several investment options from which to choose. Your account will go up or down in value based on the performance of the particular option you select.

Prepaid Plans let you pre-pay all or part of the costs of an in-state public college education. They may also be converted for use at private and out-of-state colleges. The Private College 529 Plan is a separate prepaid plan for private colleges.”

Compare state 529 plans at Savings for College.  College Savings Plans Network answers FAQ.

 

Disadvantages of a 529 Savings Plan

The American Institute of CPAs outlines 13 advantages and 8 disadvantages of a 529 plans. Disadvantages include:

• Fees and expenses for administration
• Taxed withdrawals for non educational purposes
• Limited pre-established portfolios
• Generally limited state plans
• Applies to under-graduate tuition, not other costs
• Requires all tuition credits used before the beneficiary reaches age 30
• Do not guarantee your financial returns
• Are not legally required to allow changes

Thursday we will spotlight how reusable essays have changed over the past 5 years

This blog will improve as you submit comments, questions, and experiences. We will answer your questions in future blog posts. Please submit your comments and questions so we can answer them.

Caveat Emptor or Buyer Beware 15: Doubt That You Deserve Rewards

Saturdays we share a tip or cautions to facilitate getting scholarships or avoiding problems
Becky did not excel in high school. She felt she was an average student. She ran for student body office and lost. She tried for the school choir and did not succeed. She was able to wear the national honor society stole and honors society sash at her graduation. She applied for a few scholarships, but downplayed her accomplishments in her master application. Her failure to receive any scholarships confirmed her opinion that she did not deserve any rewards.

Why We Understate Our Accomplishments

Life programs us to understate our accomplishments and contributions in life. We naturally feel uncomfortable saying good things about ourselves. We’ve prepared thousands of people to find jobs. We help them prepare value statements for their resumes, phone calls, and interviews. Then, we make them practice saying the value statements as answers to questions or in phone scripts.
They describe their feelings of discomfort when they have to say good things about themselves. We recognize that most of certain generations are programmed to hesitate saying good things about themselves. It follows them through life:

• Most parents instruct young children “Don’t brag” when they say good things about themselves
• Junior high school friends label others as “Stuck up”, “Conceited”, “Full of yourself”, and worse when  they say good things about their accomplishments
• Adults remonstrate one another with “Don’t be proud” or “Be humble”

Most Doubt Ourselves

Most of us tend to doubt that we deserve good things in life. We feel inadequate, normal, or mediocre. We can see the value in others, but discount our own value. Many of us readily feel we deserve trials in our life.
We warn you to resist the tendency to understate your accomplishments. We caution you to believe in yourself and doubt not. Allow the truth of your value statements to lift your spirits. Accept them. Own them. Say them out loud. Write them. Read them. Believe that you deserve good things. 
Tuesday we describe the federal 529 educational savings plan as a source of financial aid

Reusable Materials 24: Convince Committees You Deserve the Money

Thursdays we discuss how reusable materials help you WOW committees and save time

A nice private university admitted Harold for the fall semester as a freshman. He came to our office with just two weeks before school started. He wanted to earn some money for his first semester. We doubted the timing, but still encouraged him to apply for as many as he could. His uncle called the office after Harold left for college. The uncle told us that Harold already had received notification that he had received a scholarship. He earned it within 2 weeks of attending our group.

What Scholarship Committees Seek to Reward

Scholarship committees seek to reward two aspects of life. First, they want to reward people who affiliate with the purpose of the organization. For example, they may seek to reward people who

• Use the sponsor’s product
• Belong to the sponsoring organization
• Achieve a special rank or achievement
• Pursue a specific major that will prepare them to work in that industry
• Create a poem, composition, piece of art, music, video, or other work
• Contribute to the community through service or other donations

Committees also recognize and reward people who possess certain character traits:

• Integrity and honesty
• Hard work
• Overcoming obstacles
• Teamwork
• Perseverance
• Individual initiative
• Passion & enthusiasm
• Responsibility
• Civic duty
• Purpose
• Character

Convince Committees You Deserve the Money

You must convince the committees that you meet their qualifications and deserve the money. That remains the purpose of your reusable materials. Your materials provide the committees with the evidence they need to select you to receive their award. Once again, we have dissected each one of the reusable materials multiple times over the past six months. Let us summarize what they are again:

• Free Application for Federal Student Aid (FAFSA)
• Master application
  • Part A: Answers to questions on scholarship applications
  • Part B: Lists of awards, performances, competitions, transcripts, and more
  • Part C: Themes divided into 3 categories with 3 value statements for each category
• 5-6 Reusable essays
• Reusable letters of recommendation

Saturday we share a caution and warning about doubts you may have about your worth

Source of Money 22: A Better Chance Especially for Minority Students

Tuesday’s we review a source of financial aid to help you pay for college

Melvin represents hundreds of thousands of minority students each year who get to attend college because of scholarships. Education has not been equally available to all Americans. Melvin worked very hard in high school, but his inner city school lacked excellent teachers. Instead, he learned from good people who worked in extremely difficult situations for less pay than they deserved. Gangs and other influences conspired to prevent Melvin from graduating, let alone going to college. Yet, he graduated well and earned enough scholarships to allow him to attend a respectable state college. He received a good education thanks to the generosity of those who donate to scholarship funds.

History of A Better Chance

The web site www.abetterchance.org describes A Better Chance history and demographics as

“In 1963 at the height of the civil rights movement, 23 headmasters of selective independent schools made a mutual commitment to change the profiles and compositions of their student bodies.  Through A Better Chance, they would broaden their enrollment to include students of color who were economically disadvantaged but academically able.  Chosen for their motivation and demonstrated achievement, 55 students from low-income families were selected to complete their secondary education at these founding independent schools.

A Better Chance Scholars are a racially diverse group.  Approximately 65% are African-American; 20% Latino; 6% Asian American; about 1% Native American; and 8% describe themselves as multi-racial or other.  Approximately one-third live at or below the federal poverty line, and virtually all come from working class families.  More than 65% of our Scholars come from single-parent households.  A Better Chance has grown from 55 students enrolled at nine schools to nearly 1,900 students enrolled in 2008/2009 school year.”

Offerings from the Web Site

The web site offers:

• Application information
• A list of participating schools
• A PDF Resource Guide
• List of organizations that assist young children and their families, another for high school, and another for college students
• Ability to donate to the fund

Thursday we review how reusable materials describe why you deserve the scholarships

Caveat Emptor or Buyer Beware 14: Reduced Opportunities for Money

Saturdays we share a tip or cautions to facilitate getting scholarships or avoiding problems

Frank has been coaching people to find scholarships for seven years. He noticed that, in the last three years, the results from search engine profiles had reduced significantly. People who usually found 250-350 solid scholarship opportunities were finding only 38-50. In addition, he found an increased number contests, surveys, and other typical wastes of time. He contacted several of the search engines with unsatisfactory responses or results.

Fewer Good Results and More Scams

As outlined in the Frank’s story above, we see fewer positive actions occurring with scholarships lately. At first, we ascribed the reductions to the recession and less money in the economy. We’re now wondering if less money is entering the process for student financial aid.

We sense that that monetizing scholarship web sites to maintain free services led to less results for the students and more money for the web sites. More opportunities that appear as scholarships are actually

• Contests that offer very small rewards ($1,000 a week) to gather your name and email which the sell to other organizations
• Surveys which gather your personal information and sell it to companies sponsoring the surveys
• Short (3 sentence) scholarship applications which ask for your name, email address, and an answer to a short question like
  • “Rate how well your school  educates and prepares you for the college”
  • “Whose face would you add to the four on Mount Rushmore and why?”
  • “How are you more than a test score?”
• Offers more information about a variety of subjects which then authorize the web site to sell your information to “providers, vendors, or others” (fine print in the terms of agreement)

Less Effectiveness of Reusable Materials

We find that reliable scholarships still require a more detailed application process. Your master application will help you complete longer applications faster.

However, scholarships are also adapting to a younger generation more used to texting rather than writing. They expect shorter, easier applications. We will keep you informed.

Tuesdays we review A Better Chance as source of financial aid for minorities

Reusable Materials 23: Categories Set Themes in Master Applications

Thursdays we discuss how reusable materials help you WOW committees and save time

Arthur was admitted to a doctoral program. They offered him a teaching and research assistantship. The assistantship covered his tuition for three years and a nice cash payment each year. He still wanted to earn additional money to cover the additional costs for his family of five. He struggled preparing Part C of his master application. We helped him correct the challenges by using categories to structure his themes and value statements.

Outline General Themes in Your Life

Themes describe general facets of your life. You may discern true themes by their long-term impact or drive in your life. They manifest at a young age and present themselves throughout life.

For example, entrepreneurship manifested early in my life beginning:

• Age 3: Sold illustrations drawn by my father (a world class illustrator) to my friends
• Age 5: Influenced 5 friends to combine their individual lemonade stands into one grocery store and pay me 10% of everything they sold
• Age 6: Convinced a man who sold ice cream from a truck in front of the local junior high school to let me pick up the trash the students left and pay me with a 10 cent item each day
• Age 14-17: Sold light bulbs doo-to-door to earn money to attend the Boy Scout National Jamboree in Idaho and 4 cities in Canada; and to attend the World Jamboree and tour 6 weeks in Japan
• 7 businesses from age 34 to present

Typical Themes

Avoid defining them too specifically. For example, typical themes include:

• Service
• Leadership
• Academics
• Creative Talent
• Athletics
• Entrepreneurship
• Civic Activism
• Ethnic Background
• Survival

Structure Themes into Specific Categories

Categorizing your themes structures your master application. They show breadth rather than narrowness to your themes. Categories for themes could be:

• Service in your Church, community, school, or work
• Academics with best subjects like math, science, English, languages, or history
• Athletic categories would be your best sports baseball, basketball, golf, soccer, and . . .

Saturday we share a warning about changes reducing the amount of financial aid available

Sources of Money 21: Equal Justice Works to Provide Aid for Law School

Tuesday’s we review a source of financial aid to help pay for college

Doreen, a single mother of 2, worked on a combined MPA/JD program. She would earn both a Masters in Public Administration and law degree. She sought scholarship money to help her pay for tuition, books, and family expenses while she studied. At the time, we were not aware of many sources of financial aid for law school. We advised her to focus on scholarships for the master’s degree. Financial aid for graduate school is much easier to obtain. Since that time, we have found this site of lawyers helping future lawyers.

About Equal Justice Works

Equal Justice Works declare

“We believe that the poorest and most vulnerable among us deserve the same access to justice and quality legal representation as more fortunate citizens.

Founded by law students in 1986, Equal Justice Works is a 501(c)(3) nonprofit organization dedicated to creating a just society by mobilizing the next generation of lawyers committed to equal justice. To achieve this, we offer a continuum of opportunities for law students and lawyers that provide the training and skills that enable them to provide effective representation to underserved communities and causes…

The Equal Justice Works Fellowships programs fund hundreds of public interest attorneys each year to close the justice gap on issues such as foreclosure, community economic development, immigration, civil rights, homelessness, access to healthcare, and domestic violence. These Fellows have a lasting impact well beyond their fellowship. More than 80% of fellows continue doing public interest work after their fellowship ends.”

Contents of Equal Justice Works

They offer:

• Videos, webinars, an eBook, and other advice on debt reduction through loan forgiveness, repayment plans, and loan repayment assistance programs
• Opportunities to spend summers working on legal projects for nonprofits
• Guide to law schools
• AmeriCorps legal fellowships facilitating pro bono opportunities
• Opportunities to sponsor a fellowship for two years
• Calendar of events

Disadvantages of Equal Justice Works

Does not offer other scholarship or financial aid opportunities

Thursday we highlight how to use categories to structure Part C of your master application

Tips to Get Money for College 10: Pay with Educational Reimbursements

Saturdays we share tips or cautions to facilitate getting scholarships or avoid problems

Ester worked as a human resource specialist for a giant medical corporation. She went to graduate school to get a Master in Public Administration to qualify for promotions. Luckily, the corporation appreciated both Ester’s contribution—and her potential—to the company. She applied for, and received, educational reimbursement of her tuition. While she had to apply for reimbursement for each class each semester, they reimbursed for 70-80% of her tuition.

Rules Governing Education Reimbursement

Companies pay educational reimbursements to employees they believe have a future with the company. Companies perceive educational reimbursements as investments in future leaders within the company. Generally, the following guidelines exist for educational reimbursements:

• You must apply through the human resource department of the company
• Typically companies budget the money the year before and ask for estimates
• You must complete a form before the class starts to request the reimbursement
• You pay the tuition to take the class
• You take the course trying to get the best grades possible
• You submit a completion form, with a transcript of your grade, to the human resource department upon completion of the course
• The company reimburses a percentage of the cost of the course based on the grade you received

Show Your Return on Investment

Unfortunately, companies invest in fewer employees these days. In fact, many companies that used to offer educational reimbursement no longer offer them. Those companies that still offer them accept fewer applications and only from their strongest employees with the best potential.

Consequently, you must demonstrate that you will give not just a good—but a great—return on their investment. You will need to

• Show specifics, when you submit the request, how the skills you learn in each course will allow you to improve your productivity, efficiency, effectiveness or quality
• Apply the skills as you take the course and report improvements to your supervisor and to the human resource specialist
• Report your continued improvements for months after the course

Tuesday we share Equal Justice Works as a source of student financial aid for law students

Reusable Materials 22: Outline for Reusable Letters of Recommendation

Thursdays we discuss how reusable materials help you WOW committees and save time

Joel needed letters of recommendation for his scholarship applications. He identified former scoutmasters, civic leaders, and leaders of organizations he led or served. He called each one to ask them to write a letter. He offered to share statements about what he did for them. He sent them an email including the value statements that applied to that particular person. As a result, his letters of recommendation confirmed the value statements he copied from his master application into the scholarship applications.

Suggestions for Reusable Letters of Recommendation

You will need 5-6 reusable letters of recommendation. You invite people to write letters on your behalf. The following tips will help you get impressive recommendations:

• Explain that you will use the letters to apply for more than 155 scholarships
• Share value statements that apply to the organization with the letter author
• Offer to draft the letter on the author’s behalf and let them review and edit it
• Obtain a PDF or scanned copy of the letter on their letterhead and signature
• Attach copies of the letters to your applications

Suggested Introduction Paragraph

Your introduction paragraph includes 3 sentences in a paragraph format rather bullets:

“I recommend (insert your name) receive the (insert the name of the award) scholarship. I know (Insert your first name) because he/she (describe what you did). (Insert your first name) will represent (Insert the scholarship name) well.

Suggest Body of the Letter

The body of the letter includes the results portion of the applicable value statements related to that organization. They should be listed in a bulleted format.

“(Insert your full name) provided our organization with the following assistance:

• Result 1
• Result 2
• Result 3”

Suggested Closing Paragraph

Close the letter with three sentences similar to the following:

“I hope you see why I recommend (Insert your name) to receive the (name of the award) scholarship. He/she will bring honor to the award. I appreciate your consideration.

Sincerely,

Name

Job Title”

Saturday we share a tip about using educational reimbursements from your employers

Sources of Money 20: Super College Helps You Find More Money

Tuesday’s we review a source of financial aid available to help pay for college

Fran wanted to go back to school at age 52. She had 3 children, a mortgage, and a job that did not pay well enough to go to college. She needed to earn scholarships to pay for college. She attended our workshop and worked with our coaches for more than one year. She earned enough money to pay for her tuition, books, housing (that mortgage), and some of her food for two years.

About Super College

Super College (www.supercollege.com) describes their purpose as “SuperCollege was founded in 1998 in the heart of Silicon Valley as a traditional book publisher. Ironically, this coincided with the ascension of the Internet. SuperCollege quickly expanded to include an online community and electronic publishing.”

Advantages of Super College Web Site

The site offers several nice features. At the very top of the page you find options for four audiences:

• College: for high school students wanting to go to college
• Graduate school: for traditional students wanting to attend graduate school
• Adult students: for non-traditional students
• Parents: of college and graduate school

Clicking on one of the options changes what the pages say on the major elements of the page. For example, the contents of each of the following elements adapts as you click on the audience link:

• Popular (College, Graduate School, Adults Student, or Parents [shows college]) Scholarships
• Books shows different books to help each audience for example some titles are
  • 1001 Ways to Pay for College, Get Into Any College, America’s Best Colleges for B Students
  • Accepted 50 Business School Admissions Essays, Creative Careers
  • 501 Ways for Adult Students to Pay for College, A Painless Guide to Going Back to College Adult Students
• Ask the Experts also changes as you click a different audience. Some of the questions the experts answer include:
  • Is it too late to apply for scholarships?
  • How do I start researching colleges?
  • Is there financial aid for nursing students?
  • Are there law scholarships for law school?

Thursday we highlight the outline for reusable letters of recommendation

Tips to Get Money for College 9: Your Personal Profiles on Search Engines

Saturdays we share tips or cautions to facilitate getting scholarships or avoid problems

Anna had already started college when she began to worry about scholarships. She came to us seeking assistance using our 10X2 philosophy. Based on her GPA and activities we estimated that she would qualify for 116 scholarships. When she returned a week later for her second appointment she complained that she only qualified for 53. We asked if she had checked hiking. She indicated she had not. We knew from our interview that she had gone to a girl’s camp for six years. We told her to check the things she had done whether they were extensive or not. She edited her search engine profile. They identified that she qualified for 123 scholarships.

If You Did It Click It

Scholarship search engines generally ask you to complete a profile. They use the profiles to identify potential scholarships based on your history of interests, experiences, activities, ethnic background, and memberships of both students and parents.

Most profiles divide questions into similar categories and then give you a list of possibilities to click. Some profiles limit how many of each item you may select. Typical categories include:

• Majors and minors
• Athletic endeavors
• Memberships in clubs, associations, and unions
• Ethnic background of your ancestors
• Companies that employed you or your parents
• Universities you plan on attending
• Extracurricular activities such as drama, music, and more

You may tend to discard activities you have done because you did not do it at a professional level. For example, when the profile says basketball, many people interpret it to mean “you played starting forward on the state championship team.” So, you may not select it if you just played basketball for your church or county rec team.

Our counsel: If you did it, click it! You cannot screen them out later if you never see them. Later, you can eliminate the ones that you cannot win .

Tuesday we review the Super College web site as a source of student financial aid