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Scholarships can make College a bit less Expensive

How are your kids going to pay for college? I was blessed when I went to a technical college, I was able to get a grant and not have to pay anything back. However, perhaps the kids who may not have the option of a grant, may qualify for scholarships.

I had a friend who’s daughter was struggling about college debt, she did not want to take out loans, so she did the next best thing. She applied for scholarships! That’s right, if you search scholarships, you will get a bunch, some only give $100 and other’s give into the $1000’s.

A good scholarship to look into is the Nancy Etz Scholarship. It’s made to support and encourage students pursuing higher education. Nancy Etz awards this annual scholarship to those currently enrolled as full-time undergraduate or graduate students in the U.S.
Scholarships
The Nancy Etz Academic Scholarship was created to recognize an outstanding student and provide them the resources needed to advance in their disciplines and eventually pursue their dream careers.

Winner Selection

The Nancy Etz Scholarship Committee will review all submissions once the deadline passes. By the end of February 2021, a winner will be selected and contacted to receive the scholarship award.

Award Amount is $1000.

Eligibility Requirements

Applicants must meet one of the following criteria:
Currently enrolled in an undergraduate or graduate program
Current high school senior that has been accepted into a college or university.

Scholarship Essay Topic
Please prepare a 500-word essay that answers the following prompt.
“Discuss a special attribute or accomplishment that sets you apart”.

Scholarships are a great opportunity, however please remember to also try to find grants or even some kind of financial aid to offset the costs, before you take out a loan. My daughter and son in law both have student loans and when they are done with college, I know that these loans will bury them in interest and other worries. Do you know of any other ways to save some money or avoid the college debt cycle?

Parents or the students can save as much money as they can before enrolling in school. Every dollar you save is a dollar less that you will have to borrow. It is cheaper to save than to borrow. For example, saving $100 a month for 10 years at 6.8% interest yields $17,216. Borrowing instead of saving, however, will require payments of $198 a month for 10 years at 6.8% interest, almost twice as much.

There is an amazing article on Edvisors filled with great information. Enroll at an in-state public college. Students who receive a Bachelor’s degree from an in-state public college graduate with about 20 percent less debt than students who graduate from a private non-profit college.

Students should budget before they borrow. This will help them borrow just what they need and not treat loan limits as targets. Increasing awareness of debt will help students exercise restraint and cut spending.

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