Applying for Economic Scholarships based on need

Applying for economic scholarships based on need is quite common. These types of funds are only offered to those that can show some type of economic hardship. The overall dollar amount that they make or that they have access to isn’t so much the concern. It generally comes down to whether or not they will reasonably be able to attend the college they have been accepted to without the funds.

The process for deciding who will get such college scholarships is harder to determine than those that are merit based only. In order to make that process easier there will be some other requirements as well. For example a person may need a certain GPA or have a desire to pursue a degree in a certain field.

Those requirements will be weighed in along with the economic need. Most of the time letters of recommendation need to also indicate why the need for financial assistance is so great for that individual. A personal narrative about why that scholarship is so very important is usually required as well. That way the committee that decides who gets the funds will be able to get a more personal view of those that have applied for it.

A person shouldn’t be ashamed or embarrassed to apply for economic scholarships. They are in place to help ensure a person is able to go to college if they would like to. It should be viewed as an opportunity to do something good with your life instead of having to ask for money. When you view it in a positive light it can encourage you to really benefit from what is before you.

The rules that apply to need based college scholarships can vary. You should go online and explore how they fit into the laws for where you live. In many areas you must apply for free grants and other financial aid first. Then you can apply for grants that are economic based after that. The process can become quite complicated though once you have been approved.

You may be requires to provide certain types of financial information along with economic scholarships. This way they can have the proof they need that you do fit that criteria. Sometimes you will have to provide that information when you apply. Other times they will only require it of the top remaining contenders. You do want to be sure you are applying for legitimate need based scholarships though.

Many scams out there will be under the pretense of really offering funding for college. They will then request financial information that can expose personal information which is what they are after. Make sure you find out the reputation of such entities before you agree to send them any types of financial records. Chances are what you send them will affect your parents as well so make sure you get their permission.

For example you may find that the more economic scholarships for college that you earn the more that the financial aid office will remove from your grant package. This can become frustrating, especially if you still run short to get the funding you need to pay for the schooling. Make sure you discuss these issues with the financial aid office so you will know exactly what to expect.

Balancing play and study time setting boundaries

One of the joys of being a child is having time to play. Playing is important in child development for a couple of reasons. It gives time for the body to decompress from the stress of an active schedule. It also reminds a child that all of life isn't about work that there is fun to be had also and gives them something to look forward to for when their work is done. However, it's important to find a balance between the work that needs to be done and the play that we want to do. As parents we can help our children learn how to balance the two and make sure that they are getting enough of both to have a healthy development.

The first thing we can do is sit them down and talk to them about priorities. Play is fun and important but getting our work done has to come first. The decisions that we make as children have consequences that can affect us for the rest of our lives and most of the time children don't understand that unless we take the time to explain it to them. They don't understand that a good education is the foundation to making a start in life and that they will need that education later on to do things in life.

We can also make studying more fun for them. Set up a reward system for grades where studying and doing good on their grades can help them achieve rewards. There are a couple of ways to do this the first is to set up a sticker board where each hour of study time and every good grade gets them a sticker and after so many stickers they can have a reward. Another way to set this up is to use a points system. In a points system studying and tests are both worth a certain amount of points those points can be used towards special privileges or rewards. Really there's no limit to the number of things that can be set up with these systems. It's all a matter of imagination and what the parent is trying to achieve.

Another method is the punishment and reward method. In this method if the child does not complete their work or get bad grades then things are taken away from them. The things taken away can be either physical things or loss of privileges. The reward is that they are allowed to do their normal play activities. This encourages the child to get their work done on time so that they can move on to more enjoyable activities. This effective for some children but not for others.

These are just a few of the many methods used for balancing play and study time. What works for one child may not work with another child and care should be taken to make sure that the plan used is tailored to the individual so that it actually works. Sometimes it's even necessary to use different methods within the same family of children. As parents we should look at all the options before we decide what we want to use. If something doesn't work then it's time to look at another method because it's a waste of time to continue using a method that is not effective.

Common Types of Financial Aid

If you are planning to attend college or the parent of a child you hope will attend college, I'm sure you are concerned over how you are going to be able to afford the process. A college education in many cases is a significant investment. The good news is that there are many options for the average family when it comes to paying the high costs involved in higher education.

Types of Financial Assistance for Educational Expenses

Scholarships. You will find that scholarships come in many different shapes and sizes and have all kinds of strange requirements in order to qualify to receive them. Some are based on need while others are based on merit. You will also find that there are many community and faith based organizations that offer scholarships in addition to certain corporations that offer scholarships in a gesture of good will to employees and the children of their employees. These are an excellent source of educational funding, as they do not need to be repaid.

Federal Pell Grants. This is another financial aid source that doesn't require repayment. However, you must qualify based on need in order to receive this particular type of college assistance. You can only obtain a Pell grant if you are an undergraduate college student who has not yet earned a college degree. There is a formula that is used to determine the amount of award for which you are eligible. This depends greatly on your means as a family and how much you can realistically expect to contribute towards the cost of your education.

Loans. This should be used as a last resort when it comes to paying your college expenses, as this is money that must be repaid with interest. There are several types of loans that are available and you should consider carefully and weigh your options before taking out a loan. However, if this is the only method you have for covering the cost of your tuition it will be money well spent once you've managed to repay the debt.
1) Student loans. There are three different types of student loans: subsidized, unsubsidized, and Perkins loans.  You must qualify in order to receive an unsubsidized loan, which will put off your interest accumulation until after graduation or you cease to be enrolled the minimum number of hours. You do not however, need to qualify in order to receive an unsubsidized student loan, which will begin accruing interest immediately. If you happen to be in exceptional financial need you can apply through your university for a Perkins loans. These are low interest loans that must be repaid to the university.
2) Parent Loans. These are commonly referred to as PLUS loans (parent loan for undergraduate students). These loans allow parents to borrow the money required to cover the costs of education that are not covered by other means of financial assistance. Repayment on these loans begins 60 days after the funds are transferred and can take up to 10 years.
3) Private loans. These loans are not guaranteed and are solely credit-based loans. They do not however, have the same limited scope that government loans have and in many cases can help bridge the gaps in actual educational expenses and the amount of money that you are allowed to borrow through traditional financial aid opportunities.

Before signing up for any particular sort of financial aid it is a good idea to see a financial aid counselor at the university you are planning to attend. They will have the best information about what steps you need to take in order to apply for financial aid at that specific universities and unique scholarship or grant opportunities that might be available to you through your state or the college. Higher education is a dream that is definitely worth having. Do not allow financial limitations to keep you from your goal if possible but enter into all financial arrangements with great caution and thought.