DCPS Scholarship Highlights – April 7, 2014

DCPS Scholarship Guide Image

DC metro-area companies and organizations are seeking dynamic students across the GPA spectrum who plan to access and graduate college.  Every Friday (and some other days as well), the DCPS College Readiness Initiative will share scholarship opportunities from organizations seeking DCPS scholars to award scholarships, resources, and/or mentorship to support their college matriculation and graduation plans.   Students and families should consult their school counselor to learn how to access comprehensive scholarship information through the school’s Naviance account and learn about other scholarship resources (e.g., C3N, Fastweb and UNCF).

pearl and ivy educational foundation

Pearl and Ivy Educational Foundation, Inc.

Application Deadline: April 14, 2014

The Pearl and Ivy Educational Foundation, Inc. (PIEF) awards scholarships to graduating high school students each year.   Since 1988 PIEF has provided scholarships to District of Columbia Public Schools and District of Columbia Public Charter School students who excelled academically OR demonstrated a strong desire to continue their education, but faced financial challenges.  PIEF awarded 18 scholarships totaling $25,000 in 2013.   Students may access the scholarship application and learn more about Pearl and Ivy Educational Foundation, Inc at http://pearlandivy.org/scholarship-application/

National Capital Environmental Scholarship Program

Application Deadline: April 14, 2014 

 The Federal Water Quality Association (FWQA) is seeking young women and men preparing for careers in environmental protection to apply for this year’s awarded scholarships.   Those eligible to apply forFWQA scholarships are Washington area graduating high school seniors who have immediate plans to attend a four-year undergraduate program leading o a bachelor’s degree in the environmental sciences or engineering (Acceptable fields of study: biology, environmental sciences, environmental engineering, chemistry, civil engineering, chemical engineering, natural resource planning or other environmental areas presented for consideration).   To learn more and access the 2014 National Capital Environmental Scholarship Program visit http://www.fwqa-dc.org/scholarships.php

DC Pearls III Foundation Scholarships

Application Deadline: April 14, 2014

Alpha Kappa Alpha Sorority, Inc, Rho Mu Omega Chapter, in conjunction with DC Pearls III Foundation awards the following scholarships to graduating seniors from a District of Columbia High School:  1) A minimum of four General Scholarships ($2,000 each); 2) One Barbara P. Davis Scholarship in Education ($500 minimum); 3) One Angela Ducker Richardson Memorial Scholarship in Health and Science ($1,000 minimum).     If you have additional questions, please contact the Scholarship Chair, via email at scholarship@rhomuomega.org.  To access the scholarship application and learn more about other programs offered by the organization  visit http://rhomuomega.org/scholarship.htm

 

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Michael J. Gilbert Scholarship Program

Application Deadline: April 19, 2014 

Iota Phi Theta Fraternity Beta Omega Alumni Chapter  awards the Michael J. Gilbert Scholarship to graduating seniors from a metropolitan Washington area  high school who has been accepted to a 2 or 4 year college, university, trade school or certificate program for SY 2014-2015.   Applicants must submit all attachments with their completed application and will be scored based on four (4) categories: documented financial need, essay question, letter of recommendation, and high school transcript.  You may access the scholarship application here:    2014 Michael J Gilbert Scholarship Application

2014 Ket Doan Scholarship

Application Deadline: April 25, 2014 

Ket Doan is a community based nonprofit organization established in 2002 to meet the needs of young Vietnamese American professionals and to address issues that affect their everyday lives.  Ket Doan Association will award a $1000 scholarship to an outstanding Vietnamese American high school senior who demonstrates high academic merit and exhibits great passion towards community service.  You may learn more about the scholarship at www.ketdoan.org and you can download the application here:        2014 Ket Doan Scholarship

 

ALERT!!!  CLASS OF 2015 SCHOLARSHIP!   CLASS OF 2015 SCHOLARSHIP ALERT!!! 

 

Nordstrom Scholarship

 

Nordstrom Scholarship Program

Application Deadline: May 1, 2014 

Nordstrom Scholarship Program recognizes high school juniors from across the country for exceptional scholastic achievement and community involvement.  Students should have at least a 2.7 GPA and be involved in community service or extracurricular activities.  Students may receive a $10,000 scholarship.   Students may learn more about the scholarship and access the scholarship application at https://nordstrom.scholarsapply.org/

 

 

 

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DCPS Scholarship Highlights – March 14, 2014

DCPS Scholarship Guide Image

DC metro-area companies and organizations are seeking dynamic students across the GPA spectrum who plan to access and graduate college.  Every Friday (and some other days as well), the DCPS College Readiness Initiative will share scholarship opportunities from organizations seeking DCPS scholars to award scholarships, resources, and/or mentorship to support their college matriculation and graduation plans.   Students and families should consult their school counselor to learn how to access comprehensive scholarship information through the school’s Naviance account and learn about other scholarship resources (e.g., C3N, Fastweb and UNCF).

Presbyterian Men of Redeemer Scholarship Fund

Application Deadline: March 31, 2014

The Presbyterian Men of Redeemer (PMOR) Scholarship Fund seeks African-American high school seniors or graduates continuing their post-secondary education (4-year, community college, or technical).  The fund awards a minimum of $500 to over $1,000.  Contact Church of the Redeemer, Presbyterian at 202-831-0095 or redeemerpresbyterian@verizon.net for more information.  The scholarship is available at this link   2014 PMOR Scholarship Fund Application

Absalom Jones Scholarship Fund 

Application Deadline: April 4, 2014

The Rev. Absalom Jones (1746-1818)  was born a slave in Delaware.  He eventually purchased freedom for himself and his wife, taught himself to read, founded an insurance society for Blacks and nursed yellow fever victims during an epidemic in his hometown of Philadelphia.  He was ordained a priest in the Episcopal Church 1802, becoming the first African-American priest in the Episcopal Church.  Students who have demonstrated the qualities exemplified by the Rev. Absalom Jones such as compassion, leadership, service, and interest in education are encouraged to apply.  For more information they may contact the Scholarship Fund Committee at (301) 776-5151 or absalomjonesfund@stphilipslaurel.org.  Access the scholarship application here and more information at http://www.stphilipslaurel.org.

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Alfred Street Baptist Church (ASBC) Foundation Scholarship

Application Deadline: April 11, 2014

The Alfred Street Baptist Church (ASBC) Foundation Scholarship will award two 4 year scholarships – $5,000 per year up to 4 years for a total of $20,000 each and one-year awards ranging from $1000 to $25,0000.  Prospective scholars should have maintained solid academic records with a  2.75 or above GPA and combined SAT scores (critical reading, math, writing) of 1400 or above or a composite ACT score of 19 or above.   Seniors learn more about the scholarship and apply by visiting  http://www.alfredstreet.org/foundation-scholarship.htm

DC Leadership 1000 Scholarship

Application Deadline: April 7, 2014 

The College Success Foundation (CSF) – DC Leadership 1000 Scholarship is a scholarship program funded by individuals, foundations, or businesses and provides four-year scholarships to deserving students from Washington DC who need assistance attending college. The scholarship is targeted to high school seniors with a 2.75 GPA planning or already pursuing a four-year undergraduate degree.  Student must be Pell Grant eligible as determined by FAFSA  and must attend a District of Columbia Public School or District of Columbia Public Charter High School.  College Success Foundation also supports the WRCF $25,000 Scholarship.  To learn more and access the DC Leadership 1000 application visit http://www.dccollegesuccessfoundation.org/dc/students/dcleadership1000/eligibility

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GET $$$ for College 3/15/2014 at DC FAFSA/College Expo

Federal Student Aid (FSA) presents the FAFSA/College Expo on Saturday, March 15, 2014 from 10:00AM – 2:00PM at the University of the District of Columbia (near the Van Ness-UDC Metro)!  The event is part of the Washington, DC FAFSA Completion Initiative. This event will provide DC/MD/VA students and families with the opportunity to meet with various college representatives; receive assistance filing the FAFSA; and attend breakout sessions on topics such as scholarships, DC TAG and financial aid 101.

Students and families, REGISTER HERE.

http://bit.ly/fafsa-expo   SHARE!

Washington, DC FAFSA/COLLEGE EXPO March 15, 2014

 

DCPS Scholarship Highlights – March 7, 2014

DCPS Scholarship Guide Image

DC metro-area companies and organizations are seeking dynamic students across the GPA spectrum who plan to access and graduate college.  Every Friday (and some other days as well), the DCPS College Readiness Initiative will share scholarship opportunities from organizations seeking DCPS scholars to award scholarships, resources, and/or mentorship to support their college matriculation and graduation plans.   Students and families should consult their school counselor to learn how to access comprehensive scholarship information through the school’s Naviance account and learn about other scholarship resources (e.g., C3NFastweb and UNCF).

Washington DC Alumnae Chapter of Delta Sigma Theta Sorority, Inc. Presents WDCAC 2014 Scholarship Program

Application Deadline: March 15, 2014

The Washington DC Alumnae Chapter (WDCAC) of Delta Sigma Theta Sorority, Incorporated annual scholarship program recognizes graduating public, private, charter and parochial high school students from Washington, D.C. who display academic excellence, community service, leadership skills, and/or financial need, and who choose to attend an institution of higher learning.  Students receive scholarships ranging from $500 to $3,000 and trunk scholarships which consist of items such as towels, sheets, iron, alarm clock, and toiletries that students will need when they begin college.  For questions regarding the WDCAC Scholarship Program please email scholarship@wdcac.org

Jack Kent Cooke Foundation Young Scholars Program Seeks High-Performing 7th Graders

Application Deadline: March 20, 2014

The Jack Kent Cooke Foundation (JKCF) seeks high-performing 7th graders with financial need for its Young Scholars Program. Selected students receive an on-staff educational adviser and services, which may include help planning a suitable academic course load, summer academic and enrichment program opportunities, study-abroad and community-service opportunities, lessons to develop music, art, or other talents, college and career counseling, and the opportunity to network with the larger JKCF Scholar community. If you know any students who stand out for their exceptional academic abilities and achievements, persistence, and desire to help others, please encourage them to visit the Jack Kent Cooke Foundation’s website to learn more.

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Washington Redskins Charitable Foundation $25,000 Scholarship

Application Deadline: April 7, 2014 

The Washington Redskins Charitable Foundation (WRCF) online submission is now open for the WRCF $25,000 college scholarship. The 2014 scholarship marks the sixth consecutive year WRCF is helping send a student in need to college.  Administered by the D.C. College Success Foundation, the WRCF scholarship will provide one local, deserving, high-potential and low-income public high school senior with a college scholarship disbursed in up to $5,000 increments annually for five years.  Seniors attending a Washington, D.C. or Prince George’s County, Md. public high school may apply for the scholarship by visiting http://www.dccollegesuccessfoundation.org/dc/scholarships/dc-l1000-scholarship and selecting “Apply Now.”

Council of Great City Schools ExxonMobil Bernard Harris Math and Science Scholarships

Application Deadline: April 7, 2014 

Named for the first African-American to walk in space, ExxonMobil Bernard Harris Math and Science Scholarships are available to 2014 graduating high school seniors in school districts represented by the Council of the Great City Schools. Four scholarships for two males and two females — $5,000 each — will be awarded to two African-American and two Hispanic students on behalf of the former NASA astronaut, physician and businessman, Dr. Bernard Harris.  For students to apply, they should click here or access the Council’s website at www.cgcs.org.


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Not All College Loans are Made Equal: Knowing a Smart Loan from a Bad Loan

Word of the Week

Interest (n). The fee you pay for borrowing money as part of an educational loan. Usually, interest is charged monthly. The fee is calculated as a percentage of the total amount you borrowed, also called the interest rate. For example, if the interest rate is 3.4%, and your monthly payment is $100, you owe an additional $3.40 each month, for a total payment of $103.40 per month.

Bank

Much of the information in the media about college loans is terrifying. Stories about students and graduates unable to find jobs and drowning in debt seem commonplace. National student loan debt recently surpassed credit card debt. However, not all loans are made alike, and sometimes borrowing money is a good decision that allows a student to attend his or her best fit college. The key is to understand the different types of loans, choose the least expensive loans, and to understand the size of payments post-graduation.

Types of Loans

Just like scholarships, loans are financed by a number of different agencies. Who provides the funding for the loan can change how expensive the loan will be for the borrower. Some loans are also only available to families who demonstrate financial need.

Choose loans that will be the least expensive to repay. Usually, federally funded loans with interest rates that don’t change are the best choice. Big Future at the College Board has a helpful chart comparing loan types and interest rates.

Federal Government Loans—Need Based

Federal Direct Perkins Loans

These loans are awarded by the college/university to students with the highest amount of financial need.

Interest rate: 5.0% (fixed)

Federal Direct Subsidized Loans

These loans are subsidized, which means the federal government pays the interest while the student is enrolled in school. Students must begin re-paying the loan with interest six months after they are no longer enrolled at least half-time in college.

Interest rate: 3.4% (fixed)

Federal Government Loans—Not Need Based

Federal Direct Unsubsidized Loans

While the government provides the funding for these loans, they are not subsidized, which means students are responsible for paying the interest that adds up while the student is enrolled in college. Over time, the student ends up paying more.

Interest rate: 6.8% (fixed)Loan post

Federal Parent PLUS Loans

Unlike all the other types of loans listed here, these loans are available to parents or guardians. Parents can borrow the entire amount of a college education minus other financial aid.

Interest rate: 7.9% (fixed)

State Loans

Some states also finance educational loans. While Washington DC does not operate a loan program for students, students may be eligible for a college loan from the state they attend college. For examples, see MEFA Loans in Massachusetts and NJCLASS Loans in New Jersey. The U.S. Department of Education also provides a list of all U.S. State Boards of Higher Education.

Private Loans

There are other ways to borrow money for college. Private loans, sometimes referred to as alternative loans, are not sponsored by the government and often have higher interest rates than federal loans. Students and families pay more over time. Private loans should be a last option.

  • Banks offer a range of private loans with varying interest rates. They often require a parent or guardian to cosign with a student. The parent is therefore responsible for the loan repayment if the student cannot pay.
  • Some colleges and universities may also offer loans as part of their financial aid package. Make sure to ask about the interest rate and repayment terms of the loan.

No Loans are Free

All loans must eventually be repaid, so it’s important for students to fully understand what current borrowing choices will mean for their future. In most cases, it is the student’s responsibility alone to pay back a college loan. As a family, it is important to discuss post-college graduation budgeting and financial planning. Consider these questions:

  • If the parents decide to take out a Parent PLUS Loan or other private loan that requires repayment to begin immediately on a monthly basis, is it a feasible within the family’s budget (including if an unexpected expense occurs such car home maintenance, medical emergency, etc.)?
  • How much will the student’s total loan payment(s) be after college?
  • Using estimated expenses for necessities such as housing, food, and transportation, how much will the student need to earn directly after college in order to meet monthly loan payments?
  • Is the resulting salary figure a realistic number for a new college graduate? If not, the college in consideration might not be the best financial choice.

Loan Forgiveness

A few programs allow borrowers in certain fields to qualify for loan forgiveness.

  • Borrowers who pursue a career in public service are eligible for loan forgiveness of Federal Direct Subsidized and Unsubsidized Loans after 10 years if they have made 120 monthly payments towards the balance of the loan. Public service includes federal, state, and local government work, employment with tax-exempt non-profit organizations, and certain private organizations that provide public service such as the military, health providers, and emergency response workers.
  • Borrowers who teach in certain low-income schools full-time for five consecutive years may be eligible for loan forgiveness or loan cancellation. The Federal Direct Subsidized and Unsubsidized Loans and Perkins Loans are eligible loans for this program.

Tools: Loan Calculators

Loan calculators provide a figure for expected monthly repayment, based on the amount of a loan, designated interest rate, and selected repayment schedule.

FinAid.org Loan Calculator

College Board Loan Calculator

Still have questions about loans? Leave us a comment here or send us an email: dcpscollegereadiness@dc.gov.

Please remember that this post is intended for informational purposes. Always consult the college/university financial aid office and/or a tax professional for financial advice.

Scholarship Highlights – May 10, 2013

Team DC Scholarship

June 1, 2013

Max Award: $2000

Student athletes who identify as lesbian, gay, bisexual, transgender and/or queer are eligible for the Team DC Scholarship.

Development Fund for Black Students in Science and Technology

June 15, 2013

Max Award: $2000, renewable for four years

African-American students majoring in or planning on majoring in a Science, Technology, Engineering, or Math (STEM) field are eligible for this scholarship. Students must be planning on attending one of a specified list of Historically Black Colleges/Universities in Fall 2013.

Herb Block Foundation Schoalarship

July 7, 2013

Max Award: $8000, renewable for two years

Residents of the DC area who are attending an area community college in Fall 2013 are eligible for the Herb Block Foundation Scholarship. Applicants must show financial need. The award is intended as a “last dollar” award to bridge the gap between what the student can pay and other financial aid already awarded.

Scholarship Highlights – April 26, 2013

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Want to look as happy as these DCPS George Washington Trachtenberg Award winners? See below for upcoming scholarships deadlines! (Photo credit to Ductai Nguyen).

Toni K. Allen Memorial Scholarship

Association of Legal Administrators

May 3, 2013

Max Award: $15,000

This award recognizes students who have an interest in the legal profession, a 3.0 GPA, and a combined SAT score of 1400 or an ACT composite score of 21. Seeking DCPS and DC Charter School applicants! Email chloe.woodward-magrane@dc.gov for the application form.

Spread Your Wings Scholarship

William O. Lockridge Community Foundation

May 3, 2013

Max Award: $1,000

Scholarships will be awarded to students who live and/or attend school in Wards 7 or 8 in Washington, DC. Students must have a 2.5 GPA or above to be eligible.

I’m First! Scholarship

Center for Student Opportunity

May 24, 2013

Max Award: $2,000, renewable for four years of college

Students must be the first generation in their families to attend college. Additionally, winners will have the opportunity to blog about their college experiences and offer advice to other first-generation college students.