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Barbara

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Caroline has already gone over some details of the FAFSA for beginners, but what about those of you who filed a FAFSA (Free Application For Federal Student Aid)  last year?

You need to complete a FAFSA every year you're in school, even if your financial situation hasn't changed. Don't worry — renewing your FAFSA takes much less time than the initial application.

The Department of Education will send you a Renewal Application or a reminder of your PIN (Personal Identification Number) to apply online, and you may also get a reminder from your school. However, you don't have to wait for either notification to apply. If you need a reminder of your PIN, just head to the PIN Website. 

And while it's best to file your taxes early to have the correct information, you don't have to wait. Use December pay stubs to estimate income for the year. You'll have the opportunity to correct your application if needed. Plus, applying earlier ensures you meet your deadlines  (some aid is first come, first served).

If your situation has changed — like a dramatic shift in your income, a divorce, or a parent's job loss — you may want to talk with your financial aid office about how it could affect your financial aid award. They'll be able to walk you through what may be different this year.

Once you've applied for federal aid, keep on applying. Seek free money like scholarships and grants.  Even though you may receive enough financial aid to cover your costs, you don't have to accept everything you are offered. Some aid, like unsubsidized Federal Stafford Loans, will need to be repaid with interest — so the more funding you find that doesn't have to be repaid, the better!

Staci

Happy 2009! Have you made any New Year's resolutions? 

I'm not a particularly successful resolution-keeper. Last year, I vowed to eat healthier, and for six weeks it was nothing but oatmeal for breakfast, salads for lunch, and Lean Cuisine®  for dinner. By the time Valentine's Day rolled around, I felt so deprived that I consumed a two-pound box of See's Candies®  in one sitting.

All bets — and subsequently, all resolutions — were off.

Looking back on it, I know my resolution was too general — not to mention highly unrealistic! I'm guessing that many resolution-makers find themselves in similar situations.

Depending on what stage you are in your student life — soon-to-be-student, current student, recent graduate — here are a couple of specific, achievable New Year's resolutions you could adopt in 2009:

1. Apply for at least one scholarship. Remember, free money for college means less money you'll have to borrow, and plenty of scholarships are out there for those willing to do a little work. Find one that's right for you by checking with your high school guidance counselor, your college financial aid office, your employer (or your parents' employer), or a scholarship search.

2. Before you apply, read the fine print. Know exactly what you're getting into before you sign a credit card application or a student loan promissory note, because your signature indicates that you agree to the terms and conditions. Pay attention to interest rates, fees, grace periods, and repayment periods. If you don't understand anything, ask — before you sign.

3. Make an extra student loan payment. Student loans don't have prepayment penalties. At least once this year, scrounge up enough cash to throw an extra $50 at one of your student loans, preferably the one with the highest interest rate. Just be sure to communicate with your lender and let them know exactly which loan you want the extra payment applied to.

My one resolution for 2009? Not to eat an entire box of See's Candies in one sitting. Sounds pretty doable, right?

Staci

Here we are, approaching holiday season at breakneck speed. In just a few short weeks we'll be with family and friends for food, football, and fiscal stimulation!  But most of all, we'll be remembering what we're thankful for.

This past weekend I got an early taste of Thanksgiving in the form of a scholarship banquet at my alma mater . This was an opportunity for all the student scholarship recipients and their families to connect with their scholarship sponsors, and as a member of an alumni board that awards eight annual scholarships, I had the honor of attending.

There wasn't any turkey, but there was no shortage of gratitude.

That's not a surprise, since families are struggling more than ever to keep up with college costs. According to a recent publication by the College Board , average published tuition, fees, and room and board for in-state students at public four-year colleges and universities in 2008-09 is $14,333. For private colleges and universities, the cost jumps to $34,132.

Yikes. With numbers like these, every scholarship counts when paying for college.

At the banquet, Kelsey, a spunky junior majoring in music and education, went out of her way to thank me for her scholarship. In addition to her full-time coursework, she works two jobs, volunteers in an at-risk classroom, and participates in a host of extracurricular activities like choir and theatre. Kelsey made it clear that without the investments of others, she wouldn't be having the meaningful college experience that she is.

So for the giving and receiving of Kelsey's college scholarship, I'm thankful. Who knows what contributions this hardworking young woman will go on to make — what impacts she'll have in the lives of her future students?

If you've received a scholarship to help pay for school, how have you expressed your gratitude? Or if you've given one, why are these investments important to you?

Caroline

You're probably starting school soon, if you haven't already. So let us know how your funding came together for fall semester.

How are you paying for school?  Scholarships, loans, grants, Work-Study?  All of the above?

Did you hit any bumps on the road in figuring out your financing? Got any questions?

Let us know how it went!

Barbara

We start this post in my cardiologist's office, and we'll finish in a financial aid office.

Earlier this year, after a number of routine tests, I sat in an exam room waiting for my doctor. It's a visit I make annually because of a congenital heart defect, and for the past 14 years I've left the office with instructions to maintain the status quo.

But not this year. Instead, I got a detailed explanation of a problem and the possible solutions.

Post minor breakdown, my next step was to research my situation as much as possible. I trolled the Internet for similar cases and discussed my previous surgeries with my parents. As I became more familiar with the medical terms (my favorite was "hypertrophy") , I started the list. Every question that popped into my head went on the list — even if it seemed stupid.

On my next visit to the doctor, I asked the professionals for the answers. I got the advice I needed, felt confident with the information, and was able to make my decision.

Advisors are amazing resources. But professional advice is even better when complimented by your own knowledge, whether you're shopping for a heart surgery or a student loan.

When you're looking to finance an education, it's important to listen to your financial aid officer. After all, they're the professionals. But you shouldn't stop there. Research your options — scholarships, loans, lenders — so you can make an informed decision.

Then you can compile your own list and go back to your financial aid office with any questions you have — even if they seem stupid.

As part of this blog community, you're off on the right foot. Here are a couple other online resources that can help you learn the fundamentals:

• Department of Education Student Aid Portal 

• FinAid! Guide to financial aid 

It's important to make informed choices. While we turn to professionals for advice, we still need to be knowledgeable because in the end, we're the ones who are impacted by our decisions.

Rachel

Last weekend I decided to extend my personal Friday cubical dance party into the weekend by volunteering at a local high school dance. It was so great to see students releasing their pent up energy into the rhythm of the night. Hands in the air, shouting the lyrics to every verse, laughing and showing off their moves — they were in their element.

People (rightfully) laugh at my "Ellen-esque"  dance parties at work. For me it takes the edge off the corporate work environment and releases a bit of my anxiety. As a student, I think these casual high school dances offer the same type of thing — a pressure release where you can go out with friends and dance off the stress of being in school.

In high school (and life in general) we spend a lot of time working on (and worrying about) our image and making sure we look good on paper. For high school students, it's SAT scores, grade point averages and the right combination of club memberships, student government experience and being on a varsity sports team. In "the real world," it's your job title, degrees of education, performance reviews, community involvement, hobbies and some type of luxury fluff like season tickets or country club memberships.

But we are so much more than just our MySpace profiles. As they say in Transformers , we are all "more than meets the eye." This is because our personalities can't be bottled and branded. We are individuals. We are human. We are interesting. We all have our own story to tell.

When you are writing your college entrance essays and interviewing for scholarships, remember to show who you really are, on and off paper. I once won a college scholarship over several of my classmates who were way more qualified (on paper) than I was. No joke, there was the valedictorian, the student body president, the volunteer wiz-kid, and me — the girl who scored a lousy 970 on her SATs. I was awarded the scholarship because I aced the interview by being myself. (BTW, if you are looking for scholarships, be sure you check out this online search engine  to help you.)

This is not to say the stuff on paper doesn't count — it definitely does. (I had to work hard to make up for my horrible SAT performance.) But equally important is your character and expressing the goodness that can't be communicated on paper.

Find your "ness"  and let it shine.

Caroline

Anyone interested in free money for college? Scholarships aren't always easy to come by, but they're definitely worth the effort.

If you're a high school senior, you should begin your scholarship search now. Deadlines come up very quickly, and some scholarship applications are more work than others. Barbara offered a great post a few months ago full of advice about seeking out scholarships.

To get you started, I've got a couple scholarship opportunities to tell you about:

• Wells Fargo CollegeSTEPS® Program & Scholarship Sweepstakes: This is an easy one. It's a program that offers free college-planning tips (via email) AND the chance to win a $1,000 college tuition prize. Enroll online at the above link, and you're done. You can sign up for the CollegeSTEPS Program at any time during high school (freshman through senior year). Once you enroll you'll start receiving grade-appropriate college-prep information (don't worry, we don't bombard you – you'll get a couple emails each school year from us). During your senior year, you'll automatically be entered for the sweepstakes drawings. Check out the official rules to ensure that you're eligible.

• Wells Fargo/UNCF Scholarship Fund : This is a scholarship for undergraduate sophomores, undergraduate juniors, and graduate students attending historically black colleges and universities. Eligible majors include Business, Finance, Accounting, Architecture, Electrical Engineering, Computer Engineering, and Systems Engineering. Scholarship amounts are up to $2,000. Don't delay in applying for this one – the deadline is October 31, 2007.

Another opportunity to kickstart your scholarship search is to try out the Peterson's Scholarship Search . This tool allows you to search specifically for scholarships based on your talents and interests.

I hope these suggestions help get you started. Good luck in your search!

Caroline

Since July 4th is tomorrow, let's talk about another kind of "Independence Day"—the financial type.

I've always liked feeling financially independent. I had a paper route  as a kid and relished having my own money for movies, candy and Ms. Pac-Man . I worked as a grocery checker  in high school, spending my cash on clothes and other extras I wanted for myself.

In college, I was able to pay my own way through school with a combination of grants , scholarships, student loans, work-study  and regular jobs. And after college, I was soon on my own and paying all my own bills from cable to car insurance.

But I distinctly remember the day I felt truly financially independent. I was 29 years old and had just purchased my first car without consulting my parents in any way, shape or form. Finding that little Mazda  all on my own and securing the financing was a little scary, but it felt great. I'd crossed that final bridge to true financial independence. Light the sparklers!

Got any stories to share about your own Financial Independence Day?

Staci

I have some great news to share: We just launched our Wells Fargo College Scholarship Sweepstakes, which means we're giving away money for tuition!

This summer, Wells Fargo Student Loans is giving away $25,000—a grand prize scholarship of $10,000 and 15 scholarship prizes of $1,000.

Just complete an online application for any Wells Fargo qualifying student loan by Aug. 21, 2007. You're automatically entered when your application is approved (no purchase necessary).

One last thing: If you haven't checked out our other scholarship resources, now's the time. Every little bit helps to fund the most important investment you'll ever make—your education!