money for college

money for college questions and answers

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Q: How much money does the average college student have in the bank?
I was just wondering how much money does the average college student have in the bank. I have one friend who has $20.00 in the bank and another friend with close to $6,000.00 in the bank and i have like $150.00 in the bank, so I was just wondering what is the normal average amount of money college students usually have?

A: I suppose it depends on which school you're going to. Most people at my school have had our parents save up about a hundred thousand, but it's a private university that totals 160G over the four years, so it's more about where you plan on going. I know some kids who went to the public university and they never saved a penny just got scholarships and grants.

Q: If you owe one community college money can u transfer to another community college and start over?
My cousin attends community college and owes her current school money. If she transfers to another community college will she be able to enroll, if she still owes the first community college money. All i know is that she will not be able to have her transcripts released. She decided to start all over from scratch since she changed her major, so does it matter if she is in debt at one community college but plans to enroll and start all over from the beginning at another community college. Will she be able to attend another college without any problems.

A: I believe she will be able to enroll to another college, but since her transcripts will not be released by her previous college then she will have to take the courses all over again.

Q: What are good ways to get college money?
I really want to become a doctor, and I know it takes college and med school and stuff, but my parents and I are really low on cash. My dad says he can come up with the several thousand dollars we need, I don't think he can in the next 4 years. Does anyone know any good jobs a teenager can get, and what scholarships I can apply for (I'm really good at writing, science, and I am going to try to join a debate team if that helps) and I really would like to know anything else a teenager can do to scrap up some college money. Thank you all so much for any and all answers you can give!

A: Student loans. The school you attend will have a financial aid counselor and they will be able to help you with what you need for your specific educational plan. You can search for student loans. If your parents are willing to co-sign (and they have decent credit) you should be able to get whatever you need financially. ALSO... go fill out a FAFSA to see if you qualify for any type of government aid before you start looking into loans.

Q: How do I get free college money for my daughter?
The state of california has cut back on student grants/loans. My daughter is doing great in college, yet she will have to drop many class because we have no money to help her. Are thee any foundations that give charitable donations in the S.F. Bay Area to families or students to complete collage education. Thank you!

A: Has she had free money in the past? If your EFC has been low enough to qualify for Pell Grant, that is Federal money and should not be affected by the changes in CA due to the budget. The State legislature also approved funding for Cal Grant for the 08/09 year, so if she has had that, she will retain it for the year. As for new FREE money, you are going to find it hard to find, unless she has the grades that can qualify her for Scholarships (try scholarships.com for a search engine and never ever pay for a scholarship search). You should also check with the Financial Aid Office at her school, as they may have options for her. Lastly, if your own credit is decent, you can apply for a Federal PLUS loan (Parent Loan for Undergraduate Students). The rate is about 8.5%. The drawback is, you begin repayment as soon as it is disbursed. If she has good credit, she could apply for an alternative loan. Rates will vary depending on her credit, but it is not repaid until she is out of school. Also, be sure she is taking advantage of her Stafford loans. They may not be Free money, but at least she won't have to repay them until 6 months after she has graduated or left school.

Q: If I owe a state college money, will they take it out of my state tax refund?
I filed, and was supposed to get $289 back, but when it got deposited in my account, it's only $9, and now that I think about it, I think I owe my old college money. Is this something they would do to get the money I owe them?

A: Government debts can result in both Federal and State tax refunds being captured. It wouldn't be much of a stretch to consider an unpaid tuition bill from a state school to be a government debt.

Q: How to make lots of college money?
OK, getting into the college I want is already hard enough - not counting expenses; 26,438.78 a year. My family has no money to put me through a cheap college, especially a good one. So, what can I do to make the money? Any REALLY good ideas are appriciated! And please, no 'getting money online' schemes. I am 16, but need to start now, definitely, no matter where I go to college. So if you can help me think of ideas and ways to make money (and good places to get jobs at), I'll give you best answer!

A: Ugh I hate to even suggest this ( cause I had to do it to get through school) but waitressing.Also if you can find an employer thats willing to pay you "under the table" which means cash in your pocket & no taxes go for it.The less income that you make the better chances of a getting Pell grant.It's a tough spot to be in kiddo but if you really want to go to college theres a way to do it. I came from a family without money too and ended up taking 3 buses to the local community college as well as working several partime crappy jobs to pay for classes.You can do it,it'll just take a certain amount of commitment and determination.It took me 4 yrs to get through and pay for classes to get an AA degree but I did it .I worked another 7 years towards a 5 yr art degree but only made it as far the 4 th year. ( Still haven't given up on getting it even after all these years.) Good luck! the important thing is TO NEVER GIVE UP!

Q: What will happen to scholarship money that is left over from college tuition?
I am getting ready to enter college and I have a state-funded scholarship that pays for my tuition at a state college (Louisiana's TOPS Program). However, I have many other things to pay such as books, housing (off-campus), and electricity bills, meals, gas, clothes, entertainment, etc. My question is this: If I get additional scholarships, will I be able to use that money to pay for what I chose? Does my college regulate that money, or can I use it to pay rent or bills? Do I receive the money or does my college receive it? What happens to scholarship money once college tuition is paid?

A: Some scholarships are paid directly to you. These are usually not related to the college you're attending. Most scholarships are paid directly to the college. In most cases, you get "financial aid Christmas" -- that's a day each semester when we get all of the excess financial aid money in our financial aid account. ☺ Caution though - many scholarships are need based. That means if you get another scholarship that covers cost, you no longer have "need" and drop that one. Know too - very often, if there is excess money (above tuition) in your financial aid account, you can charge your books to that account at the campus bookstore. There may be an application fee to allow this - look into it. Otherwise, you have to buy your books out of your pocket well before 'financial aid Christmas'.

Q: How do I get a copy of my transcript from college if I still own them money?
I am trying to apply to another school and because I owe my previous college money. In order to apply to another school I need to get my transcripts. I can not start paying on it just yet because I am not working, I was recently fired from my job. I have my student loans in forbearance and deferred for now.

A: Catch 22!

Q: Authors, is writing a book a good way to get college money?
I always wanted to write a book and i heard that anyone can do it at any age, but do the publishers take alot of the money from sales? Can i make alot of money for college?

A: Nope. Realistically, it will not be your first book that sells to a publisher. It will more likely be your third or fourth. It will take about two years to find a publisher and then you'll have to wait two or three years before it'll be released (yes, they are scheduling that far in advance). Then you'll have to wait 9 months after the book hits the shelves to get your first royalty check. Hmmm. You could be working on your doctorate by then.

Q: How to make good money in college?
I'm 17 yet but I'm planning on how to make some money during college. I saved up 20,000 $ from investments and lots of savings. I'll probably be in an art school in a sub urban area. What are some good paying jobs? How much would you get paid a hour?

A: Ignore that up there ^^^^^^It's crap^^^^^^ I would recommend working for a company that offers tuition reimbursement benefits. They are tax free and reimburse educational expenses up to $5,250 per year. I worked for the home depot and maxed this out while making my normal wage. Good money for being in college. I would also recommend getting a minor in business or math or something else that is practically useful. There are a lot of "arts" graduates who pour my coffee everyday at Starbux and Dunkin' Donuts. It'll be much nicer to make your "big break" in the arts while making $50,000 per year doing accounting than making $8 an hour making lattes. Harsh, yes. . . but, it's the truth.

Q: Where can I find money for college and what are some ways that I can raise money?
I will be leaving for college soon and I needed more money for school. I have some. I applied for many different grants, my church will be helping me out,my parents,family and myself of course., oh yeah loans.

A: On the Fasfa website they should have information. In addition, this website tell you about different grants available and the deadline www.fastweb.com/.Also, in the financial aid office or website at your school should have a list of grants available.

Q: Do colleges make or lose money on college football?
I have watched three big college football games today. One was Virginia Tech vs Miami. As a Virginia taxpayer, I want to know if my taxes are paying for this high level football at public universities. I am wondering if maybe the big, successful schools make money on football, but what about the small schools that do not attract as many spectators and probably not many TV contracts or payments. Also, do the big superpower football and basketball colleges share the wealth with other schools? In summary, are the taxpayers paying for all this entertainment?

A: At most schools, football and basketball at least break-even if not make enough to pay for the entire athletic program plus a little. That said, the program makes money for the college because it isn't entertainment, it's advertising. It's very serious advertising without looking like a commercial. High profile athletics brings students (other than athletes) to the school that you wouldn't otherwise be reaching. Maybe that's not a good reason to pick a school, but it's reality. It gets the name of the school in the news even if you don't win. It's advertising.

Q: Money for college. What is the procedure of borrowing money to go to college?
I'd like to go to college. Anyone with borrowing money from the bank procedure that can be of help, please let me know.

A: Just to elaborate on these 2 answers: don't start by going to a bank! Money for college is *everywhere.* Depending on your family's income, you can get grants from the government (you don't pay them back) and/or loans. Individual states and schools also give out grants and, of course, scholarships. The FAFSA (referenced in another answer) is the place to start, but once you pick a college, you'll get lots of help from their financial aid office, too. There is a lot of concern these days about student debt. Lots of students live off loans for four years, and start their careers with tens of thousands in debt. (Yikes!) So don't borrow more in federal loans than you have to, and avoid bank loans if you possibly can.

Q: As a college sophomore how much money should I be saving?
I'm 19 years old and am a college sophomore. I only work on the weekends and make between $70 and $90 dollars after taxes. How much should I be saving weekly? Also in your opinion do you think it is possible to save money in college?

A: It is a wonderful idea to save any amount that you can, just because it starts you in a good direction. Saving money is a habit. Try setting aside 10%. See where your money is going, if you are drinking, eating out, or spending your money on extras then 10% is a good goal to strive for. If you seem to never have enough money to pay bills, then perhaps putting your money toward your debt is a better idea. Never charge up your credit card beyond what you can pay off in two months. If you have any credit card debt pay it off before creating a savings. The finance charges will eat your money away and you will have nothing to show for it. You are thinking on the right track. And it is absolutely possible to save money while in college, I did it :).

Q: What is the website where you can register credit cards for money towards college?
What is the website that you can register your credit cards with and for each specific product you buy with your credit card, you get a small amount of money put into a savings account. Then when your kids are of college age, you can use that money for their college education? Thanks for the help!

A: Upromise.com