Money for College

Written by Bakersfield Magazine

Whether you are going back to school 3 months, 3 years, or 30 years after high school, there are financial aid options for everyone. Should it be a federal grant, a college scholarship, outside scholarship, or even student loans, it is possible to hit the books even if you don’t have the cash.

One major way to save on school is to go local. Luckily, we have California State University, Bakersfield (CSUB) and Bakersfield College that offer a high-quality education in either the four year university or community college format.

If you’re planning on heading into school right out of high school, start by filling out a Free Application for Federal Student Aid, oh yes, the FAFSA. This application is not only free and fairly simple, but if you qualify for one of the many federal grants, the government will loan you money for school at a very low interest rate. If you do not qualify for a federal grant, don’t fret. Bakersfield College offers over 300 on-campus scholarships (visit bakersfieldcollege.edu/finaid/links.asp to read up on all of them) and also provides links on their website to sites that can help you search for outside scholarships that are available. You’ll find that being a straight-A student is not a pre-requisite for winning a scholarship. It’s often just showing a need, a desire to learn, and that you are a positive investment for the fund.

Once you’ve filed your FAFSA, you’re eligible for some of these types of government and state aid.

Types of Federal Aid

• Federal Pell Grant
• Federal Supplemental Educational Opportunity Grant (SEOG)
• Federal Work Study (FWS)
• Federal Stafford Loan
• Academic Competitiveness Grant ACG

Types of State Aid

• Board of Governor’s Fee Waiver (BOGFW)
• Cal Grants A, B, C
• Cooperative Agencies and Resources for Education (CARE)
• Extended Opportunity Programs and Services (EOP&S)

These types of grants and scholarships can often be confusing and seem time consuming, but CSUB has Scholarship Tracking And Review System (STAR) where students can enter all their information, upload essays, and be always available to scholarship funds for review. The STAR System is a great way for students to cast out a wide net for campus-based scholarships and to make sure they are always considered. As you may have guessed, one scholarship probably won’t pay for all your books, let alone all your tuition, so you will want to increase your chances and check out some of the countless websites that help you find scholarships available to you. But always do your homework to verify that the website is on the up and up.

According to the Federal Trade Commission here are some ways to spot a scholarship scam. The FTC cautions students to look for tell tale lines:

• “The scholarship is guaranteed or your money back.”
• “I just need your credit card or bank account number to hold this scholarship.”
• “The scholarship will cost some money.”
• “You’ve been selected by a ‘national foundation’ to receive a scholarship.”
• “You’re a finalist” in a contest you never entered.

When you’ve exhausted the aforementioned (and legitimate) scholarships, aid programs, or grants, there are always student loans available to cover expenses. Don’t be afraid of the “big bad loan,” because they are intended to be a positive investment that will enable you to make enough money to pay it back. Just be aware of repayment plans and how these loans work before you receive one.

If you’re serious about your education, whether you want to go back for a few classes to qualify for a promotion at work or you’re looking to enter an entirely different field, scholarships and financial aid are great ways to fund that goal. And a quick search of our local college websites indicates that there are plenty of opportunities out there for those interested in the collegiate way of life.

There is money out there for school, you just have to be willing to look for it.

Article appeared in our 28-2 Issue - June 2011