College tuition costs continue to rise, outstripping the rate of inflation year in and year out. Add in room and board, fees, books, labs and related expenses and the annual cost of a private school education can easily top $30,000 even pushing up closer to $50,000 at select elite schools, far beyond what most families can afford.

The good news is that just like buying a car, the listed price isn’t what you’ll end up paying, particularly if you cannot afford the school. As automakers discount their products, most schools do the same even if they have many more applicants to choose from should you decide to go elsewhere.

But, before you decide to throw up your hands in disgust and consider Plan B, make sure that Plan A has been exhausted. Specifically, you’ll want to do the following:

Fill Out Your FAFSA – The Free Application For Student Aid (FAFSA) form should be filled out by all prospective and current college students to determine whether you’re eligible for student aid. This form is sent to the federal government which issues a Student Aid Report (SAR) which is sent to your college. The SAR will have your Expected Family Contribution (EFC) featured, an amount that can be much smaller than what the going rate is for college.

Get Merit Aid – Families who have too much money to qualify for student aid can still get assistance especially if your student is a high achiever and has a promising academic track record. Top grades means you have much academic potential – some schools recognize ability as an important reason to extend assistance.

Grants, Not Loans – When seeking assistance, you’ll want to get as much grant money as possible (which doesn’t have to be repaid) instead of relying upon loans (which can strap your student down financially for many years). Some colleges and universities are no-loan schools who offer grants to eligible families. This list includes select elite schools including most Ivy schools and private institutions such as Swarthmore and Amherst.

Think Diversity – If you are of an ethnic minority or of an under represented gender, you may find that you could be eligible for aid (or a better aid package) simply for being who you are. Colleges value diversity and will do whatever it takes to populate their student body with as diverse a group of people as possible.

Instead of worrying about how you will pay for college, consider the many ways you can get lop off thousands from the sticker price. Don’t forget to apply for scholarships which can be another way to get the money you need to pay for your education – more than seven billion dollars of college scholarship money is made available each year: get your share and reap the educational rewards!

Tags: college grants, college scholarships, college tuition, FAFSA, Free Application For Student Aid, merit aid, Student Loans

The mortgage meltdown and credit crunch have conspired to shake consumer confidence to its very core. Lots of people are trying to figure out how they’ll pay for college as key funding sources dry up.

In the midst of tough market conditions, there are some bright spots out there. Specifically, college scholarships continue to provide a way for students to pay for school. And, if my survey of various websites offers an accurate indication of things to come, scholarship money will still be plentiful in 2009, but with one caveat: the number of people looking for funding will increase sharply. Therefore, you’ll want to apply early and often to keep your chances of winning scholarship alive.

Over the past few weeks we’ve learned about some new scholarship opportunities, monies which can help fund your education. The award amount varies as does the application process, therefore please familiarize yourself with their rules before applying:

The Maltz Museum of Jewish Heritage challenges students in grades 6 - 12 to combat acts of hatred, discrimination and intolerance by participating in the Stop the Hate: Youth Speak Out essay contest. Students who are currently in the 11^th or 12^th grade can apply for a special prize: a scholarship in the amount of $100,000 to an Ohio college or university.

Junior Achievement and Deloitte today announced the launch of their fifth annual “Excellence through Ethics” essay contest, in which U.S. high school seniors are asked to apply their knowledge of ethical decision-making and share their views on the importance of ethics in business. To enter, high school seniors must compose an original essay of 500 words or less in response to an ethical dilemma posted on Junior Achievement’s web site. Entries must be submitted online and will be accepted starting today, until January 2, 2009.

For more than 10 years, the Union Plus Scholarship program has supported working families pursuing post-secondary education. The Union Plus Scholarship Program is offered through the Union Plus Education Foundation. The AFL-CIO is behind this educational effort is accepting applications for the 2009 academic year right now.

Trico Electric Cooperative has college scholarship money to give students in their service area (parts of Arizona) for the 2009-2010 school year. All winners are selected on the basis of scholastic standing, participation in extracurricular activities, volunteer participation, leadership and special circumstances, including personal financial need. Scholarships are available for $4,600 for students attending a four-year college and $1,840 for students attending a two-year college.

The Fort Wayne Zoological Society is accepting applications for the Lawrence A. Ackerman Scholarship, which bestows a one-time $2,000 award to a college-bound high school senior pursuing an animal-related career. The scholarship award is based on an applicant’s character, commitment to the care of animals, personal financial need, and scholastic achievement. Graduating high school seniors in Adams, Allen, DeKalb, Huntington, Kosciusko, LaGrange, Noble, Steuben, Wabash, Wells, and Whitley counties in Indiana are eligible to apply.

If your organization is offering scholarship money to worthy students and you would like to be mentioned herein, feel free to reply to this comment and add your own scholarship information for our readers.

Tags: college money, college scholarship, college tuition, education, grants, money, university