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No Scholarships???

Not to worry!!

So you’ve done your scholarship research, and have applied to various scholarship agencies. Why haven’t you received any awards? The answer isn’t always clear. Maybe you don’t qualify for many need-based scholarships, or perhaps hundreds of people applied to the same scholarship. Whatever the reason, don’t stress out! There are many other options available for funding your college education.

Loans

Loans are the most popular method of college funding. There many loans out there specifically designed for students- with low interest rates and no repayment obligations until six months after graduation.

These include:

• Federal Subsidized Stafford Loans

• Federal Unsubsidized Stafford Loans

• Private Loans

Learn more about these options at www.ed-loans.com.

There is also the PLUS Loan- a low rate loan designed for the parents of undergraduate students.

Grants

If you qualify, many schools offer a substantial amount of financial assistance throughout your college education. Be sure to complete the FAFSA application before the due date to ensure you receive all the aid you’re entitled too.

Work/Study

As part of your financial aid package, many schools offer Federal Work-Study. This allows students to hold part time jobs, partially funded by the government, to raise money while they’re in school. Ask your financial aid officer for more information about Federal Work-Study and to see if you qualify. Even if you don’t qualify, apply for jobs on campus anyway. There are always jobs on campus.

Don’t give up!

Don’t stop looking for winnable scholarships, as thousands of new ones are available each year. Let BrokeScholar send you scholarship-update emails on a regular basis, alerting you to useful scholarships and helpful financial aid articles.

Six Signs That Your Scholarship is Sunk

Advice from the Federal Trade Commission

1. “The scholarship is guaranteed or your money back.”

No one can guarantee that they’ll get you a grant or scholarship. Refund guarantees often have conditions or strings attached. Get refund policies in writing — before you pay.

2. “You can’t get this information anywhere else.”

There are many free lists of scholarships. Check with your school or library before you decide to pay someone to do the work for you.

3. “May I have your credit card or bank account number to hold this scholarship?“

Don’t give out your credit card or bank account number on the phone without getting information in writing first. It may be a set-up for an unauthorized withdrawal.

4. “We’ll do all the work.”

Don’t be fooled. There’s no way around it. You must apply for scholarships or grants yourself.

5. “The scholarship will cost some money.”

Don’t pay anyone who claims to be “holding” a scholarship or grant for you. Free money shouldn’t cost a thing.

6. “You’ve been selected by a ‘national foundation’ to receive a scholarship,” or “You’re a finalist” in a contest you never entered.

Before you send money to apply for a scholarship, check it out. Make sure the foundation or program is legitimate.

The FTC works for the consumer to prevent fraudulent, deceptive and unfair business practices in the marketplace and to provide information to help consumers spot, stop and avoid them. To file a complaint or to get free information on consumer issues, visit www.ftc.gov or call toll-free, 1-877-FTC-HELP (1-877-382-4357); TTY: 1-866-653-4261. The FTC enters Internet, telemarketing, identity theft and other fraud-related complaints into Consumer Sentinel, a secure, online database available to hundreds of civil and criminal law enforcement agencies in the U.S. and abroad.

© Copyright 2002 Federal Trade Commission

http://www.ftc.gov/bcp/conline/edcams/scholarship/sixsigns.htm

Let’s just say right off that it is a very bad idea to attempt to find one “perfect” scholarship and subsequently devote all of your time and effort to winning it. A wise scholarship hunter finds all of the scholarships he or she is eligible for, and applies for a great number, if not all, of them. This is a smart angle for several reasons:

1. It’s nearly impossible to secure for yourself a free ride. Most likely, you’ll have to cobble together a number of loans, scholarships and other financial modes to lessen the sting of paying for college or graduate school.

2. The more lures you have, the better your chance at catching the fish.

The first step is to fill out your BrokeScholar user profile to get a sense of what is available, and what you’re eligible for. Not a valedictorian? Don’t fret; there are scholarships abound for non-vals, most of which target people with a particular skill, interest or background, from Portland-area playwrights to tennis-playing Tunisians. Where to start? Once you fill out your profile, BrokeScholar will do the searching for you, giving you a list of every matching scholarship. The more completely you fill out you your BrokeScholar profile, the more scholarship opportunities our search will yield. Are you an international student? There are scholarships for you too.

After digging up what you can from BrokeScholar, begin looking elsewhere, and appreciate the fact that you are literally surrounded by scholarship opportunities. Check with your state of residence as well as the state of the institution you’re planning on attending for any grants or scholarships offered. Check with local professional organizations, neighborhood and civic groups, churches et cetera. Call the admissions office of the schools you’re applying to, and see what they have up their sleeves. Talk to your guidance counselor if you’re in high school, or your faculty advisor, if you’re in college.

Once you’ve found a few attractive, winnable scholarships, start requesting those applications and you’ll be well on the way. One last thing though, don’t apply for anything you’re either unqualified for, or “sorta” qualified for. As long as there is someone qualified, all your effort will be fruitless. While the old Hail Mary Pass is attractive, it’s always wiser to stick to the scholarships you can win.

The following is a list of top business schools as reported in The Princeton Review Best 237 Business Schools. This list represents some of the most difficult to get accepted to, those with the best academic experience, and those that are best for women and minorities. As you can see, high GMAT scores matter at many of these schools.

Top 50 US Business Schools

When can I apply for the 2007/8 programme?
Applications open on the 1st of October 2006, and close on the 5th of June 2007. As demand for places is likely to be strong, we recommend you apply as early as possible.

Do you have a “staged” application process - are there different application deadlines throughout the year that I need to be aware of?
No, we have a rolling admissions process - please send your application to us at any time between the 1st of October and the 5th of June. It may be advantageous to send your application sooner rather than later, as places on the programme can fill up quickly.

What is your application fee?
We do not have an application fee, believing that anyone with the ability, intellectual curiosity and determination to succeed should apply.

I have my own company. How do I choose my referees?
You can ask a customer, supplier or professional adviser to act as your referee.

Can I enclose my references along with my application form?
Yes, provided they are in a sealed envelope with the referee’s signature over the seal.

Would you consider my application if I have not got a degree?
Our programme is intellectually demanding: in twelve months you will have to cover what most US schools teach over two years. We will consider applicants without a degree, but we will usually ask you to provide evidence that you have the academic ability to cope with the intellectual demands of the programme. Such evidence might include a good, well-balanced GMAT score and strong references from tutors on other academic courses that you have taken.

Do part-time jobs count towards the minimum work experience requirements?
In most cases no, e.g. if you are applying for 2007 entry you must expect to have at least three years’ full time, post-graduation work experience by the 30th of September 2007. However, please tell us if there are extenuating circumstances which mean that you have only been able to work part-time or on temporary contracts - for example you have had to bring up a family or care for an elderly relative.

I don’t want to tell my current line manager that I am applying for an MBA. Can I submit an educational reference instead of the professional one?
We understand that sometimes it is not possible to ask your current line manager for a reference, in which case we are happy to accept a reference from a former line manager/supervisor. Failing this, we will accept a reference from a customer, supplier or adviser with whom you work on a professional basis. We do not now require an academic reference, as the undergraduate transcript we ask you to submit will provide us with all of the necessary information and contact details we need.

Do you have an upper age limit?
No.

Is GMAT compulsory?
Yes. We do not accept any other tests such as GRE or SAT.

Do I have to take the GMAT before applying?
No. You can submit your application to us before you sit the GMAT, but please tell us on the application form when and where you intend to take the test. Please note we will not consider your application until we receive your score report from ETS.

Do you require a minimum GMAT score?
No, we do not specify a minimum GMAT score - it is just one of the many criteria we consider in the selection process. However, the majority of our students have a score above 580, and the average for this year’s class is 670.

Do I have to take an English language proficiency test?
Fluency in English is a pre-requisite for the Cambridge MBA. If English is not your first language, you must have taken a recognised English proficiency test in the two years before the 30th of September of the year you are applying for. We may, at our discretion, waive this requirement if you can provide clear evidence that your English is fluent (e.g. you have mainly been educated in English and your principal working language is English), but to expedite your application we would strongly recommend that you take an English proficiency test anyway. Full details of the tests we accept can be found in the instructions that accompany the application form.

How do I know that you have received my application and supporting documents such as GMAT score and language proficiency results?
We will contact you by email when we receive your application documents and also periodically if we have received your application but are still awaiting any supporting documents.

1. Is there such a thing as a guaranteed scholarship?

Nope. If someone offers you a guaranteed scholarship, that person is most likely a con artist. There are, quite simply, no guarantees in the scholarship game. Moreover, if you receive word that you won a scholarship you never applied for — which oftentimes requires payment of a claim, redemption or disbursement fee — watch out. If it seems too good to be true, it is probably a scam.

2. Should I have to pay an application fee for a scholarship?

No, be very wary of a scholarship foundation that requires an application fee, investment, processing fee et cetera. Many who fall for this graft send along an application and a check, and never hear back. The con works because the victims just assume they didn’t win the scholarship.

3. Are scholarships only awarded to those at the top of their class?

While there are a great many academic scholarships out there, there are many others that are awarded for non-academic factors and accomplishments. For instance, there are scholarships abound that focus more on future plans, extracurricular activities, background, racial extraction, disabilities, memberships, religion and distinctive interests, than an applicant’s GPA. These require more research, but are certainly worth the effort.

4. If I’m at the top of my class, will I have to look very hard for a scholarship? Shouldn’t foundations be pounding at my door for the opportunity to pay for my education?

Though there is the possibility that a college, in an effort to attract you, may offer you a scholarship you did not apply for, you’ll likely still have to apply for others. Think of it this way: there are far more number one students in the world’s schools than there are scholarships in the world which means you’re going to have to dig like everyone else. And for the rest of you, bear in mind that grades aren’t everything. There are a number of factors considered by scholarship judges, like future plans, personality, background, and community involvement.

5. Are there billions of dollars worth of unclaimed scholarships every year? Or is this just another cruel myth created to torture scholarship applicants?

It’s another cruel myth propagated by two likely factors:

1) Con artists looking to attract rubes spread this myth to make it easier to trick applicants into believing they have valuable, insider, for-pay information. And

2) 85% of the total sum of “scholarship funds” is constituted by employee-tuition benefits — which is when companies set aside a certain amount of money to pay for their workers’ higher education. Some misinterpret these monies as unclaimed academic scholarships.

6. Can I lose my scholarship, after it is awarded?

Just like your acceptance into a school can be retracted, your scholarship can be retracted if you fail to live up to the conditions specified at the start of the application process. Among the factors: minimum GPA, completion of education requirements in a specified period of time, a requirement that the recipient attend classes “full time,” restrictions on vacations/time off, field of study, choice of college, community service, sports and so forth. Be sure to carefully read over the requirements to gain a better understanding of what the scholarship requires of you.

7. Should I apply for more than one scholarship? Should I apply for more than a hundred? A thousand? More?

Let it be known, you will want to apply for as many scholarships as possible. That said, you absolutely do not want to waste time applying for scholarships for which you are either unqualified or “sorta” qualified. Remember, as long as there is one qualified applicant, the hordes of unqualified ones won’t make it an inch beyond the first cut. While the old Hail Mary is enticing, it is in the interest of your time, effort and chances to limit yourself to scholarships you’re qualified for. Once you find them, apply to as many as you like. You may have to cobble together a few to put a good dent in your tuition anyhow.

8. Applying for a loan will have an adverse effect on your chances of winning a scholarship or will result in an already-won scholarship being reduced.

Nope, another myth. Scholarship organizations understand that funds for school often come from a patchwork of sources, and therefore do not reduce scholarship sums because the recipient has won or borrowed additional cash.

9. Will I have to pay taxes on my scholarship?

You may. If a scholarship counts as income, you’ll need to pay taxes. For example, if the award is to be put towards travel, room and board and/or equipment, you’ll be taxed. If your award pays for your full-time tuition, books and supplies needed to fulfill your academic requirements, you will not be taxed.

While those of you seeking a scholarship for post-grad work have likely had some previous experience in this department, for jobs and colleges, many college-bound applicants may be facing their first encounter with what is an understandable source of anxiety: the interview.

Interviews have been a nerve-wracking ordeal for everyone — from high-schoolers on up to corporate executives — since the advent of the desk chair. After having virtually unlimited time to answer questions in the application, you’re forced to think on your feet while smiling and sitting up straight — all in the presence of a member of the scholarship board. Also unlike an application, interviews cannot be completed in one’s underwear (unless it’s a phone interview).

So think of it this way before you start to panic: you’ve already proven your mettle. Throughout the application process you’ve exercised excellent organizational skills and shown yourself to be a well-prepared individual — now it’s simply a matter of allowing those skills to carry over into the interview process.

As with all things, first you must prepare.

One of the most important things about interviewing is anticipation, because it’s anticipation that will save you the squirm-in-the-seat agony of trying to answer a totally unexpected question. Before going to the interview, prepare basic answers to common, generic questions. Be ready to discuss:

• Your personal history in terms of education, employment, and (some) family. How each shaped you as a person, and how each affected your values and dreams.

• Any awards, championships, honors, distinctions you have won.

• Hopes, dreams and plans for the future, how you plan to attain them and why they are so important to you.

• Hobbies and personal interests.

• Your personal financial standing, and that of your parents, especially if the scholarship is need-based.

• Any questions you may have for the interviewer, relevant to the interview. It can’t hurt to come up with a few of these. It will make you look even more enthusiastic.

Bear in mind that all of your answers should be always relevant to the scholarship you’re applying for. In other words, don’t spend the whole time discussing high school basketball triumphs when applying for a business scholarship. You’d do well to practice adapting your personal history and accomplishments to each individual interview. Make everything relevant to the scholarship you’re contending for. Make it seem as though the scholarship was created for you alone. In a sense, it’s like a job interview — the interviewer is seeking the perfect person to represent the image, reputation and values of his or her organization.

Just a side note: if the scholarship is a specific one, be prepared to answer topical questions. For example, if you’re angling for a humanities scholarship, be prepared to discuss Descartes; if it’s a marine biology scholarship, be prepared to hold forth on the mating habits of octopi.

And on the big day:

• Arrive ten minutes early. Do not be late. If something comes up that will prevent you from arriving on time, call as soon as you can so the interviewer can either attend to other matters while waiting, or rescheduling for a more convenient time.

• Men, wear a jacket and tie, women, a suit or conservative dress/skirt. Dress as though you’re attending a job interview. Do not wear jeans, t-shirts or casual clothing. This cannot be stressed enough.

• Make eye contact, sit up straight, and give a firm handshake. No gum, coffee, food or cigarettes are to be brought into the interview.

• Answer all questions as briefly and candidly as propriety allows. Avoid rambling. If you’ve prepared sufficiently, the answers will already be on the tip of your tongue. If you’re confused by a question, don’t hesitate to ask the interviewer to clarify. It certainly beats a grasping, directionless response.

• Be positive and enthusiastic about the scholarship and about your own future. Smile. Foster easy conversation.

Afterwards, get the name of the interviewer, and send along a thank you note, mentioning something discussed casually in the interview, to help keep your face with your name in the mind of the interviewer.

The personal essay you write for college admissions says a lot about you that grades, test scores and GPA cannot. It should work in your favor to show admissions what sets you apart from other candidates, and it may be the deciding factor for the college committee – no pressure! But while a lot of emphasis is put on students to compose a perfect essay, a sincere and personal composition will beat out most formal and impersonal ones.

Step 1: Brainstorming

The first step to any good application essay is brainstorming important points you would like to highlight in your personal statement. Think about yourself, and any personality traits and characteristics you would like to make known. What would your friends say about you? Your family? Are there any internal conflicts, triumphs or epiphanies you think have helped make you the person you are today? What are your favorite books, movies, plays, etc. and how have they influenced you? Have you experienced an interesting, life-changing event that changed your perspective on the world?

Next, think about things you have accomplished. Make sure you focus on what you are most proud of and the struggles you had to go through to succeed. Think of things you do outside of the classroom, and explain why you do them and how they make you feel. Is there something you are most interested in beyond anything else? Make sure you explain why it interests you and how your interest developed. You may even want to add things you struggled to succeed in and ultimately failed at. Make sure to add a brief explanation as to the why’s and how’s of each point you jot down.

Finally, focus on your future. What are your ultimate goals in the distant future, and what are your goals for the near future? Make sure to add both large and small goals, and explain how the school you are applying to fits into the picture of you fulfilling these dreams.

Step 2: Choose your topic

Some colleges ask for answers to specific essay questions, while others are very broad. The key here is to focus your topic around one theme, whether it be a trip to a third-world country, your role model, or any life changing experience. However, try to avoid overly sensitive subjects, as the admissions essay is not the appropriate place to reveal extremely personal issues. The essay should not focus on the broad spectrum of your entire life (most essays are about 500 words) but rather the details of a single important moment.

Step 3: Writing the essay

1. Begin by creating an outline. A well-organized and flowing essay will prove that you have writing skills and the ability to organize your thoughts. The most important thing to do here is answer the questions correctly. You may write an impressive essay, but if it does not answer the question they are asking, you’ve wasted your time. Be sure that you include specific events that illustrate your points. You want the story to be colorful and interesting.

2. Secondly, begin your first draft. Don’t stray too much from your outline, as you want your focus to be narrow and specific. Make sure your introduction is strong and compelling, and it makes the reader want to learn more about you. The conclusion should tie the story into why you want to attend this specific college. Remember that this is just a rough draft, and expressing your ideas is more important than reaching perfection.

3. Have at least two people proofread your essay, and accept constructive criticism from them. Choose people you trust to help you create a more solid essay, and give them plenty of time to review it carefully.

4. It’s time to begin your second draft. Try to focus on using adjectives and detail to illustrate your story, without using overly flowery language. Then go over it yourself for spelling and grammar errors before letting a few others review it.

5. Now for the final draft! Your essay should be free of all spelling and grammatical errors. Have at least one person check it over quickly before sending it in. Make sure it’s a work you can be proud of!

Remember that you are trying to prove to admissions that you are a unique and outstanding individual. While they already have your grades and resume in front of them, they have yet to see the details of your personal life that shape who you are as an individual character.

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