Easy Ways to Save Money Over Winter Break

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As you finish up finals and prepare for a nice long winter break, think about how you can save money over the holidays. These easy tips can help you avoid extra charges next year.

To Do Before You Go

1. Plan a cheaper way home (and back)

If you live several hours from college, consider these ways to save money on transportation.

Carpool. Seek out students from your hometown or a nearby area and share a ride. To find someone heading in the same direction, look at sites like Ride-Share.com. For a fair split of the costs, check out apps and online carpool cost calculators.

Ride the bus, train or plane. Check out Megabus for regional bus travel or Greyhound for long-distance bus trips. Amtrak offers student discounts on train travel, and StudentUniverse advertises low plane fares for students.

2. Go green to save green

Save money on your off-campus utility expenses by reducing the amount you’re billed for while you’re away from college.

Dial back. If you have your thermostat set for toasty temps but your rented apartment or house will be empty over the long break, turn it down to save on utility bills. Just make sure you keep it warm enough—about 50 or 55 degrees—to prevent frozen pipes or other damage.

Unplug. Docking stations, computers, TVs and other items use standby power when they’re idle. Unplugging what you can will save some money on your electric bill and help prevent problems from a power surge.

3. Winterize your ride

Do what you can to avoid the costs—and other complications—that stem from being stranded or in an accident.

Give your car the once-over. Check your battery, wiper and other fluids, wiper blades, heating and defrosting systems and brakes. Also check your oil and, if needed, get an oil change. Plan to always have at least a few gallons in the gas tank while temperatures are near or below freezing. Finally, make sure your tires are not too worn to be safe and consider snow tires if you will be driving in winter conditions.

Prepare for trouble. Make sure you have what you need if you do have a car emergency. Check your spare tire, jack, jumper cables and tow rope. Add winter supplies like sand or kitty litter for traction if you get stuck, antifreeze for gas lines and windshields, a small shovel and a snow brush with an ice scraper. Bottled water, nonperishable snacks, blankets, chemical hand warmers and a battery pack for your phone are also good ideas. While driving long distances, stop often for gas in case you need to run the engine to stay warm. (Always make sure the tailpipe is not blocked and no fuel is leaking before running a stranded car’s engine.)

To Do Over Break

1. Get a checkup (or a few)

Schedule appointments for dental, eye and general health checks, as well as any follow ups you need with specialists. Maintaining your health can help you avoid more costly episodes later, and many insurance providers offer a discount for annual exams. While you’re there, ask your doctors about any alternatives or generics that can save you money on prescriptions and supplies.

2. Use your student ID

You might be in the habit of asking for student discounts around campus, but your hometown retailers, restaurants and other venues may also offer savings if you show your student ID. Many online providers also offer special pricing for students.

3. Gift from the heart

If you’re planning to exchange gifts with old friends or family over the holidays, think about homemade (and heartfelt) gifts that cost less. Simple sewing projects, photo gifts, baked goods or crafty arrangements will be appreciated by all. Alternatively, suggest a group outing where you can split admission fees and costs instead of exchanging presents.

By: Iowa Student Loan

15 Ideas for Making Money During Winter Break

Depending on your school’s calendar, you may have from two to four weeks away from school with little or no academic commitments, which leaves you plenty of time to earn extra cash which could be used to reduce your need for student loans or allow you to pay interest on current student loans to reduce your balance.MoneyOverWinterBreak-infographic

Download a PDF of this infographic

Here are 15 ways you can make money over your break.

1. Find a paid internship

Make money and gain valuable experience at the same time. Check with your campus career services office for available opportunities near campus, or contact companies in your field close to home.

2. Apply for scholarships

Spend several hours researching and applying for the scholarships you were too busy to look at during the academic session.

3. Work retail

Many retailers take on seasonal staff to help with the preholiday rush, post-holiday sales and gift returns.

4. Turn your existing part-time job or internship into a full-time position

Your employer may jump at the chance to give you more hours to offset other employees’ vacation time or to help handle year-end projects.

5. Babysit for busy parents

Besides the extra commitment of holiday parties and travel, many parents also seek temporary, full-time sitters for school-age children at home during winter break.

6. Take care of Fido (and Bessie)

Pet owners who will be away for an extended period of time may prefer to have a responsible person come in to feed, exercise and clean up after their furry friends. If you live in or near a rural area, don’t forget that farmers often need someone to take care of their stock every day. Advertise early to line up several commitments over break.

7. Be a house-sitter

Homeowners will often pay a responsible person to stay in their home, water plants, set out garbage and take care of other tasks while they are away for a long trip.

8. Sell your stuff

While you’re at home over break, take the opportunity to go through clothes, electronics, books and other belongings you no longer need. You can take them to consignment shops or sell them yourself online.

9. Be the designated driver

With holiday parties in full swing, more and more people turn to Uber and other driving services.

10. Promotional campaigns

Offer your tech and social media savvy to businesses who want to promote products or holiday sales. A few hours of your time can be worth a lot of money to business owners who don’t have the time or knowledge to set up their own campaigns.

11. Put your creations up for sale

If you’re artistic or crafty, a little time designing holiday cards, decorations or gifts can pay off when you sell them online or at flea markets.

12. Fill in on or near campus

It may sound strange to spend your break on campus, but if you have a place to stay, you may be able to find a temporary position taking shifts for other students who’ve gone home. The bookstore, area shops and campus offices may need help preparing for the spring semester while some of their regular staff is out.

13. Teach a class

Work with local gyms, libraries and shops to set up special classes in something you know well and can teach others — a great workout for sedentary office workers, a how-to for smartphones or apps, creative cooking for the budget-conscious.

14. Do the legwork

Do any local businesses need help distributing fliers or making holiday deliveries? While you’re doing your own holiday shopping, keep an eye out for an opportunity to offer your services.

15. Take care of not-so-odd jobs

Advertise your availability to run errands, wrap gifts, hang holiday lights and shovel snow.

 By: Iowa Student Loan

Is Community College the Right Place to Start?

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Many students choose to start their college careers at a two-year community college. Is it right for you or your student? Compare options below.

Two-Year Community College Four-Year College or University
Annual in-state tuition and fees*

Costs are typically lower at two-year colleges.

$3,000–$5,000

• National average: $3,347
• Iowa average: $4,541

$7,000–$32,000

• National average (public four-year): $9,139
• Iowa average (public four-year): $7,857
• National average (private four-year): $31,231
• Iowa average (private four-year): $29,650

Annual room and board*

Many students at two-year colleges choose to live at home and commute.

$0–$8,000

• National average: $7,705
• Midwest average: $6,486

$9,000–$12,000

• National average (public four-year): $9,804
• Midwest average (public four-year): $8,968
• National average (private four-year): $11,188
• Midwest average (private four-year): $9,691

Type of degree

If you plan to transfer from a two-year college to a four-year institution, you should first check how and if specific credits will transfer.

• Associate degrees and certifications for trade-related careers
• Transferrable general education requirements
• Bachelor
• Post-graduate degrees
Hands-on experience • Close association with area industries
• Often offer local apprenticeships and internships
• Can be limited for undergraduate students
• Opportunities for local, national and international internship, cooperative education and study-abroad programs
Campus experience • Traditional to commuter campus
• More limited campus activities
• Traditional
• Extensive campus activities and clubs
Confidence in major or career choice • Little opportunity to explore variety of majors
• Opportunity to achieve a two-year degree, work and then re-evaluate
• More opportunity to explore before declaring a major
• Changing majors and five- or six-year graduation rates are common
Classroom instruction • Career professionals
• Nontenured instructors
• Tenured professors
• Nontenured professors
• Other instructors
• Graduate students
Admission requirements • High school graduate
• Placement test may be required
• ACT or SAT may be required for specific degrees
• High school graduate
• ACT or SAT usually required
• Minimum high school grade point average
• Essay, interview or other requirement may be needed
Schedule flexibility

Do you need to work around a work or family schedule?

• Daytime and evening classes
• Some weekend classes
• Online classes
• Mostly daytime classes
• Some evening and online classes

*2014–2015 Trends in College Pricing, College Board

 By: Iowa Student Loan

Scholarship Provides Money for College and Valuable Tips

Registration is now open for a scholarship that offers Iowa high school seniors a chance to receive one of 30 scholarships worth $2,000 for college while learning important financial literacy skills. In addition, each recipient’s high school will receive a corresponding $250 award.

Register Now

Senior Scholarship Details

High school seniors may register for the Iowa Financial Know-How Challenge: Senior Scholarship at www.IowaStudentLoan.org/SeniorScholarship between now and Feb. 22. Iowa Student Loan® will award $2,000 scholarships to 30 students who complete two online financial literacy tutorials and score highest on a related assessment. Registered students also receive emails highlighting financial literacy tips, such as the importance of early career and college planning and ways to reduce student loan indebtedness.

After registering for the scholarship, students receive emailed instructions for completing the three required online components. The two tutorials — Student Loan Game Plan and the ROCI Reality Check — were developed by Iowa Student Loan to help students understand the consequences of college borrowing and discover how to maximize their return on college investment, or ROCI.

A related multiple choice assessment will check students’ understanding of the concepts in the tutorials. The 30 high school seniors who score highest on the assessment test will each receive a $2,000 scholarship that will be sent directly to their colleges in fall 2019. If top-scoring students tie, those students will be asked to complete a separate component so that 30 final recipients can be determined.

Each scholarship recipient’s high school will also receive a corresponding $250 award to be used toward scholarship and financial literacy programs.

The Iowa Financial Know-How Challenge: Senior Scholarship is open to legal U.S. citizens who are seniors at an Iowa high school during the 2018–2019 school year and attend college in fall 2019. It is a no-purchase-required program, and full rules and details are available at www.IowaStudentLoan.org/SeniorScholarship.

Register Now

Additional Resources Available

Iowa Student Loan also has additional resources for families planning for college and for students who intend to pursue advanced degrees. The Parent Handbook consists of valuable tips to help families of students in sixth through 12th grades prepare for success in college and other postsecondary options. The Grad Degree Gauge encourages students to make informed decisions about borrowing levels and their ability to repay new student loan debt when considering the pursuit of an advanced degree. Both tools are available free at www.IowaStudentLoan.org/SmartBorrowing.

By: Iowa Student Loan

4 Tips for Scholarships

Scholarships are a great way to help you pay for college, so that you can keep your potential debt down when you graduate. Start with these four scholarship tips.

Scholarship Tip: Start Your Search Online

There are many scholarships available, and the Internet is a great place to start your search both locally and nationally.

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Scholarship Tip: Help Pay for Graduate School

Your scholarship search should not stop after you graduate with your bachelor’s degree. Many opportunities exist for students continuing their studies.

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Scholarship Tip: Nail Your Application

While you may be ready to write a scholarship essay, make sure you don’t miss small details that may or may not make you ineligible.

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Scholarship Tip: Essay Writing

If you’re applying for scholarships, you will undoubtedly have to write some essays. Take your time and do it right to help improve your chances.

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By: Iowa Student Loan

Scholarship Tips for Parents

Many families find they need additional funds to pay for college. Especially if your family does not qualify for a lot of need-based financial aid, merit-based scholarships can help fill the gap.

While your student will be the one qualifying for scholarships, filling out applications and writing essays, parents can assist in several ways. Here are some steps you can take.

Encourage your child to participate in appealing extracurricular activities. 

Many scholarship committees are looking for well-rounded applicants who have accomplishments, leadership and involvement outside the classroom. Extracurriculars can include school, religious and community groups, volunteer efforts, sports, fine arts, employment and a variety of other activities. The specific activities—or the number or variety of them—should reflect your student’s interests and situation.

Frame the conversation by setting a budget. 

Many teenagers don’t have an accurate idea of how much college costs or how much their families are able or willing to spend on their education. Have an honest conversation about true current and estimated future costs for the types of colleges your student is considering and how much you can contribute. Then, you can discuss ways your student can contribute financially, including through scholarships.

Search early and often. 

Use free online search sites beginning as early as your student’s sophomore year to get an idea of the types of scholarships your student may qualify for. You can gather ideas about test scores, grades, activities or other specific requirements that your student may be approaching or considering. Your student should continue the search as he or she approaches senior year and throughout college because new opportunities arise at different stages.

Work together to brainstorm scholarship sources. 

Besides online scholarship searches, your family should consider additional sources of scholarships. Employers (yours, your student’s and those of other family members, as well as local employers), churches and nonprofit organizations, community and civic groups, local companies and high schools all may offer awards in varying amounts and for a variety of qualifications. Encourage your student to apply to both smaller and less selective scholarships as well as any more competitive awards he or she may qualify for. Don’t forget to investigate scholarships offered by the colleges and academic departments your child is considering; these are often the largest awards.

Set aside a specific time to devote to scholarships.

As their senior year becomes more hectic with college applications, classwork and other activities, students may struggle to find the time to devote to a quality application. Help your child by designating a specific time to search for scholarships and manage applications and essays. The schedule may change in frequency as your student nears deadlines.

Help with ideas, editing and proofreading. 

Help your student come up with ideas for essay responses that fit the prompt while conveying what’s most important to your child. You may recall events or activities from earlier in high school that your student has now forgotten or considers unimportant. You can also provide a fresh eye to catch errors and other problems with essays and applications. Just remember that scholarship committees are used to reading student work and will recognize an overly involved parental hand.

Consider financial aid consequences. 

If your student will be eligible for need-based aid, like grants or work-study, investigate how each college treats merit awards. Some colleges will offset need-based aid with any outside scholarships; others allow a student to “stack” awards to maximize aid. If this information is not readily available in the financial aid, costs or admissions pages of the college website, contact the admissions office directly for details.

Recognize the accomplishment. 

If your child earns one or more large scholarships or many smaller ones, your family may be able to significantly reduce the amount spent on college. You may want to reward your student by matching a portion of the earnings. The match money could be designated for books or other expenses not covered by the awards or you may leave its disposal up to your student. Regardless of the final outcome, remember that your student has put at least some and possibly a great deal of time and effort into the scholarship process. Recognize that with sincere words, a tangible reward or other gesture.

By: Iowa Student Loan

Replacing Non-Renewable Scholarships

As the academic year comes to a close, many college students face a harsh financial reality: Scholarships and grants that made the current year affordable will soon come to an end. Some awards are only intended to be applied to the first year of college; others carry renewal requirements, such as a minimum GPA or a specific major, that go unmet.

If fewer scholarship and grant funds will be available to you or your student next year, start planning now to make up the shortfall. Here are three ways students may replace non-renewable scholarships.

1. Find new scholarships.

Although many scholarships are available to freshmen, you may be able to find scholarships for upperclassmen with a little effort.

  • If you have settled on a major, start with your academic department or college. Search the department website, visit the departmental office and talk to your academic adviser.
  • Stop in the campus financial aid office and see what scholarships are offered to students who have your academic and extracurricular interests.
  • Check with professional and pre-professional organizations about programs to help students in your intended career field.
  • Search online databases for upperclassmen scholarships. Certain scholarships like those offered by the Elie Wiesel Foundation for Humanity and the Morris K. Udall Foundation are only for upperclassmen, while others allow applicants of any undergraduate level.
  • Look for local and small scholarships. A lot of students tend to compete for national and large scholarships. You may have better luck standing out among applicants for smaller and local awards.

2. Increase earnings.

If you are unable to earn new scholarships, you may want to consider adding work hours.

  • During the school year, you may be able to find positions on or near campus that allow you to prepare for your intended career while earning money. Look for jobs as a teaching assistant, tutor or research assistant.
  • Resident Assistants in the dorms may qualify for reduced room and board costs, while other campus positions may allow you to study during slow times. Businesses near campus often hire college students during the academic year as well. Even part-time positions can pay well over time.
  • Over breaks, you can work more hours to increase income. Summer research on campus or for private, nonprofit and government organizations can help you create career connections.
  • If you need an internship to meet graduation requirements, look for paid positions that will offset your tuition, housing and transportation costs. Some colleges and organizations also offer stipends to help students who have an unpaid internship or co-op.

3. Lower costs.

Especially in combination with increased earnings, lower costs can help you make up for the loss of non-renewed scholarships.

  • Consider living off campus. Carefully weigh the cost for paying rent (most leases run a full year instead of the 10-month academic term), furnishings, utilities, groceries and transportation against room and board rates to determine if moving will save you money.
  • Even small changes can help you save a large amount of money if you are consistent and diligent.
  • Plan ahead when purchasing furnishings, supplies and books to save. Make sure you take advantage of the least expensive option that will allow you to succeed.
  • Stick to a budget to cut costs year-round. Know where you can save the most money with a little effort.

By: Iowa Student Loan

How to Manage Scholarship Applications

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You may feel like you already have enough to do managing senior year classes and activities, college and scholarship applications and other commitments.

Even though it may seem like you don’t need to add to your load, a couple of simple tricks can help you feel less anxious about scholarship results. And, you’ll be ready with an informed answer when Mom or Dad asks about your progress.

Here’s how to stay on top of scholarship applications:

Get Organized from the Beginning

Set up a spreadsheet with all your scholarship application information. Your scholarship search is unique, but you can set up a basic spreadsheet using the suggested categories below and customize them as needed.

For each scholarship you apply for, include the following information as applicable:

  • Name of scholarship
  • Scholarship sponsor
  • Sponsor contact information, including preferred methods of contact or no-contact requests
  • Award amount
  • Whether the scholarship is a one-time or renewable award
  • Name of the website, person or other source that made you aware of the scholarship
  • Website login information
  • Required elements for the application
  • Deadline
  • Submission date
  • Expected date of award notification
  • Method of award notification
  • Any additional requirements to accept scholarship
  • Notes or special information

Check for Updates

Once you submit a scholarship application, make sure you check often for updates and notifications. Depending on the scholarship, you may need to check your email (don’t forget to look in your spam folder), listen to voicemail or log in to the scholarship website.

• Respond quickly. You may receive a notice that your application is missing some required information. If you’re missing information or the scholarship sponsor has questions, respond as quickly as you can.

• Check often. Set aside a specific time every day to check your scholarship applications. It may be helpful to move all scholarship-related email to special folder in your inbox. Some email applications allow you to set up rules to do this automatically.

• Pay special attention to announcement dates. Watch for notifications that you have earned a scholarship or are a finalist. Enter any to-dos to submit additional required information or to accept the award on your spreadsheet, and then follow through.

If you haven’t heard within a few days after a publicized announcement date, you may want to follow up with the scholarship sponsor. First check your spreadsheet to ensure that the sponsor didn’t specify no contact or specified only certain forms of contact, though.

Organizing your scholarship application information and staying up to date with notifications will help you remain calm while you wait for results.

By: Iowa Student Loan

8 Ways to Start the College Conversation

Middle school is a great time for students to start thinking about and discussing their plans after high school. It may feel like your child just headed off to the first day of school, but time passes quickly and now is the time to plan for high school and beyond.Header image: Start the College Conversation

Here are eight ways to start a conversation with your student.

1. Connect current interests.

Observe the things your child enjoys and discuss how these activities translate into college majors and careers. Even if you are sure your child won’t end up as a chef, talking about cooking for a living helps your student think about the connection between interests and careers. Just remember that as your child matures, his or her interests will change as well.

2. Explore career possibilities.

Your student might have some idea of what you do for a living and is likely familiar with several common jobs like teacher, police officer, doctor and lawyer. But that’s just the tip of the iceberg. Talk about what people you work with do, as well as the careers of extended family members, friends and acquaintances. Help your student see the nuances between different careers and how people got to the point where they are today.

3. Define “college.”

What do you and your student think of when you hear the word “college”? Explore the different types of postsecondary options and the types of careers associated with them to help your child understand their future choices. Visiting different campuses can help.

4. Stress the importance of academic habits.

Middle school grades and test scores usually don’t count for college admission considerations, but now is the time to set good habits and define expectations. High school course rigor and grades, along with standardized test scores, play a major role in college admissions. Set the stage now by talking about what’s happening at school and how to improve.

5. Make a financial plan.

Discuss the current and projected future cost of college and what that means for your family. If you expect your student to work in high school or college to help offset costs, talk about that now. In addition, let your student know what kind of college savings or funding he or she can expect from the family. This will help clarify the college choice down the road.

6. Talk about academic options.

If your student performs well in middle school, there may be an opportunity to advance in coursework. Taking high school classes in middle school frees up time for more advanced classes, and even classes that count for college credit, in high school. In addition, standardized test scores may help your student qualify for substantial merit-based scholarships for college.

7. Clarify expectations.

Some families assume their children will attend college; others assume their children won’t. Where does your family fall on this scale and how does that fit with your student’s own ideas? Encourage your child to think in terms of financial and personal goals and how college affects those.

8. Share your own experience.

Discuss your favorite and least favorite aspects of your own education and what you would do differently. Share how the choices you made or the situations you were in affected what came after.

By: Iowa Student Loan

Tips for Landing a Scholarship (Infographic)

As you enter your last few months of high school, the pressure’s on to figure out how to pay for the next stage of your education. Improve your chances of landing scholarship funds with these tips.

TipsLandingScholarship-infographic

Download a PDF of this infographic.

Beef up your qualifications.

Try a new extracurricular activity, volunteer and bump up your GPA to qualify for more scholarship funds and increase your chances of earning those scholarships.

Update your information.

As you accomplish more, update your qualifications listed for your accounts on scholarship search sites, such as scholarships.com, bigfuture and Fastweb, to find more results.

Keep searching for new opportunities.

Perform new searches through free scholarship sites on a regular basis. Remember, many non-academic entities offer scholarships and make information available at different times of the year.

Touch base with your support crew.

Let teachers, coaches and family friends who have agreed to write letters of recommendation or proofread essays know when you will need help. Allow them enough time to help you while still meeting all their other commitments, and offer to help any way you can.

Stay on top of deadlines.

Plan your priorities to ensure you submit applications and supporting materials before their due dates.

Reread all your upcoming scholarship submissions.

Check for any typos, make sure you’ve followed all instructions and submit everything required.

File for financial aid.

If you haven’t yet, complete and submit your Free Application for Federal Student Aid (FAFSA). This is a primary tool to qualify for scholarships awarded by colleges. If you need help completing your FAFSA, contact the Iowa College Access Network or attend a free Iowa College Goal Sunday event near you.

Contact your college.

If your FAFSA doesn’t accurately reflect your financial situation or if you have questions about scholarships available at your college, contact the college’s admissions or financial aid office. Also let the admissions office know if the final price tag will make the difference in your college choice; the school may have some flexibility in scholarship awards.

By: Iowa Student Loan

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