]]>
College is one of the biggest investments you will ever make in money and time. Half of all full-time undergrads at four-year universities pay $9,000 per year for their education, not to mention room and board, transportation, and other living expenses during that time. A lot is riding on your decision to go to college. You want to make this decision very carefully.
Here are 8 Steps to Make Your College Search Perfect your college education on the right foot. By following these directions you will find the best program for your needs at a price you can manage. So follow along and get ready to make one of the most important decisions of your life (no pressure):
1. Choose a major
Don’t be fooled by high job placement rates or a prestigious name. Often different colleges do very well in one subject but not so well in others. For this reason, you want to make your major one of your criteria for picking a school.
Ask yourself:
a. What do I like to do?
b. What do I tend to think about in my spare time?
c. What would I like to do for the rest of my life?
The answers to these questions will point you toward the best major for you. You might need to do your research to connect your interests with an existing major. Sites like Vault, Princeton Review, and Hoovers can be a wonderful research tool. Also, interviewing people you know in different fields can also help you in this process.
Ultimately, choosing a field that you are passionate about will bring for more success than choosing a major just because it can make a lot of money.
On that note, however, you may find that you don’t know what you want to do or that you want have many different interests. Regardless, make the effort to narrow down your goals. It will help you refine your college search and make the most of your educational investment.
2. Decide whether you will study full-time or part-time
Not everyone can afford to quit their job and jump into school full-time. Being completely honest with yourself, determine how much time you have for school. Here is a simple formula to determine how much time you will to spend each week:
Full-time
These students must carry a minimum of 12 credit hours per semester. That means you will need the following hours to do well:
Part-time
These students carry fewer than 12 credits per semester. Assuming a student takes 6 credit hours, their total school hours would be as follows:
Depending on your income needs and your goals, determine how many hours you will be able to give to your college education. It is not recommended that you take on both a full-time job and a full-time semester at the same time, although some gifted individuals do it successfully.
To avoid stretching yourself too thin, decide ahead of time what kind of schedule you can handle before you start talking to schools.
3. Choose two-year or four-year
After choosing which major you will pursue and how much time you will dedicate to college, you are in a good position to decide whether you want to pursue a two- or four-year degree program. Two-year programs are mostly Associate’s degree programs; four-year programs will typically earn you a bachelor’s degree.
Over time, a bachelor’s degree will more than pay you back for the extra two years. If your field does require a four-year degree, don’t be intimidated by the length of time. Often, you can find accelerated degree programs, especially online, that allow students to finish a bachelor’s degree in three years or less. To find out more about these programs, talk to multiple schools here.
However, not all careers require a four-year degree. Your best bet is to ask people in that field which degrees or certificates are needed for your chosen major. You may be pleasantly surprised to find that you only need to go to school for two years to enter your career.
4. Choose public, private non-profit, or private for-profit
You have more options than ever. You have public schools, which funded primarily by state or national government. Then there are private which may or may not make a profit off of their operations. You’ve probably heard of some for-profits like University of Phoenix or Capella University. Public and private colleges have their pros and cons. These typically revolve around cost and perks:
Basically, this choice depends on your tastes and your budget. If you are looking for a more cosmopolitan experience, a public college would be best for you. If you thrive better in smaller, more intimate groups, private is for you. Private for-profit schools, like University of Phoenix or Cappella University, cost less than private non-profits on average.
5. Contact schools
Based on the criteria you selected above, start seeking out schools. This may seem obvious, but only look at schools that fit your criteria. At this point, it might be tempting to go after the most prestigious, even if just for curiosity sake. Resist the urge and only look at schools that fit your criteria.
Visit your prospective colleges when possible. You want to see firsthand where you would be spending those countless, grueling hours of study. Often, a visit to a campus can give you insight into a school that a website just can’t. To set up an appointment at non-profit schools, your first step is typically to call or email their admissions office, which can usually be found on a website. This will allow you to talk to a live admissions counselor and get answers to any remaining questions. As you talk to counselors, remember that you are the customer. You have the right to make sure that they meet the criteria you set.
Private for-profits are easier to meet with. You can submit your information to multiple schools through our Degree Finder Tool. If you want to inquire at multiple schools, go to our online form.
IMPORTANT: DO NOT JUST ENROLL AT THE FIRST SCHOOL YOU COME ACROSS! Shop around. Talk to multiple schools even if it takes a little more time and even if the admissions counselors are very persuasive. Talk to students and other outsiders to get their opinions. This will give you more options.
6. Weigh your options
Before you say ‘yes’ to any admissions counselor, take a timeout to weigh your options. After all, this choice will consume your life for the next two to four years. Hold up your choices objectively and compare them to your criteria. Try to predict how your options will play out five, ten, or twenty years down the road. Will you be glad you did it thirty years from now? The main idea is, don’t let this become an impulse decision. Take your time to make a decision you can live with.
7. Decide how you will pay for your education
Once you have chosen your college, review your financial situation. Although Pell grants and Stafford loans can pay for much of your schools expenses, you will need to review how much of your own funds you will be able to use to pay for college. You will want to use as much free money and as little debt as possible to finance your education.
In most cases, you can prioritize your financing in the following way to keep your school debt low or eliminate it altogether:
- Pell grants and scholarships – These are free of any future obligation or interest, which means you never have to pay them back. Use as much of these as you can to finance your college degree.
- Cash – This means money from your own pocket. The upside: you never have to pay it back and there’s no interest. The downside: it is your own money.
- Family loans – The next best thing to using your own cash is borrowing that money from a trusted family member or friend who is willing to give you a loan for little or no interest. The upside: it won’t reflect on your credit score in the future and they will usually be reasonable about repayment terms. The downside: you have to pay it back and you will likely see your creditor at holiday parties (awkward).
- Student loans – Although these loans typically have lower interest rates, they are loans nonetheless that do accrue interest. Use these loans sparingly to avoid paying excessive interest later.
- Credit cards – Whether it is an American Express card or a line of credit that is pretending to be a student loan, financing your education through consumer credit cards is dangerous. The thing that makes them especially dangerous is their high interest rates, which can range from 12% to 30% or more. Exhaust all of the above options before using consumer credit.
Granted, you may not know exactly how much you can qualify for in Pell grants or Stafford loans until you enroll in schools. After all, you can’t even apply for financial aid unless you’re registered for classes. Nevertheless, it is smart to figure out everything you can do before making the big decision to enroll.
8. Enroll in the college of your choice
After going through this process, you are ready to enroll in the school of your choice with confidence, knowing you’ve done your homework. This will be as easy as phoning the admissions counselor you spoke to previously. They will be able to get you started on your application and any other paperwork.
Congratulations! If you followed the eight steps, you have gotten off on the best foot possible. Chances are, you will have fewer second thoughts, regrets, or unnecessary expenses down the road because you took the time to do it right. If you are ready to talk to an admissions counselor today, go to an online form now.
]]>
When you take out a federal student loan for college, the government expects you to pay them back—as would any creditor. But the difference between a bank and the federal government is that the government allows you to perform some types of public service in place of paying back a portion or all of your loan amount. As you are in college and looking at future careers, you might want to take into account the types of careers that would qualify for federal student loan forgiveness in the future.
First of all, the federal government will completely forgive your student loan debt if you die. However, unless you plan on faking your death anytime soon, you probably won’t see the benefits of this type of loan forgiveness. On the other hand, here are four other ways to get your loan fully or partially forgiven:
1. Volunteer Work
The government provides partial loan forgiveness for individuals who perform volunteer work through acceptable organizations. For example, if you join the Peace Corps. You could earn 15% off of your student loan total each year that you volunteer and have up to 70% of your loan forgiven. Forgiveness programs are also available for individuals who serve with AmeriCorps or VISTA.
2. Join the Military
Not only do the American Armed Forces offer payment for school as part of their compensation package under the GI Bill but if you join the Army National Guard after you graduate, you could be eligible for up to $10,000 in student loan forgiveness, just for being a member of the US armed services.
3. Be a Teacher
The government recognizes that education is important for the future of our nation, so they have provided forgiveness of student loans for graduates who go on to teach in elementary and secondary schools that are in low-income neighborhoods. In fact, after 5 years of teaching full-time in a low-income school, you could have 100% of your student loan forgiven. In addition, certain states offer forgiveness programs depending on where you teach. You can find a whole list of loan forgiveness programs across the US at The American Federation of Teachers website.
4. Medical Professions
Loan forgiveness is also available for individuals who go into medical professions—especially if they agree to live and practice in areas with inadequate access to medical care for a certain period of time. For example, here are some resources that will tell you more about loan forgiveness for medical professionals:
Doctors
Nurses
Medical researchers
Physical therapists
Occupational therapists
If you have already decided not to go into a public service profession, you might be lucky enough to land a job at a private company that offers loan assistance to employees who agree to work in certain positions or for a certain period of time. Now that you have your future ahead of you, consider your options not just for a future career, but for your financial career by thinking about service through which you can have some or all of your student loan completely forgiven.
Do you have experience getting your student loans forgiven through your career? Give us the scoop in the comments below!
Education Loan Quote Consolidate your student loans with Ed Loan.
Student Loan Debt Consolidation Consolidate your student loans with Federal Student Loan Consolidation Debt. ]]>