OFF TO COLLEGE: Finding $s to Fund College Educations

A friend of mine who is in the financial planning and investment business sent out great information to his clients last week. The information points to programs, aid, grants and more that are available for financing college. Many of us are in the throws of getting someone in the family off to college. And many people are figuring out funding this year for next year college starts, I thought it timely to share the wealth of information that you will read below - from Joe Guittadaro, with his permission to share.

Federal and State College Financial Aid Programs
The cost of financing a college education can be daunting to many families. Although most colleges agree that the family should be the primary support vehicle, financial assistance does exist. In addition to private sources such as trade unions, fraternal or service organizations and professional associations, there are numerous state and federal aid programs available.

The good news is that a family does not have to be in a low-income bracket to qualify for many current aid programs. Most need-based programs take into account family living expenses, the number of children in the family and how many children are in college.

Federal Programs

The federal government administers several major financial assistance programs. Some are direct assistance programs; that is, the assistance goes directly to the student. Other programs are administered through the college that the student attends, funds are sent directly to the college, which in turn dispenses the money to the student in accordance with federal guidelines.

Pell, Academic Competitiveness, and National SMART Grants

The Pell Grant (formerly the Basic Educational Opportunity Grant Program) was named for Senator Claiborne Pell, who sponsored the legislation that established the program. A Pell Grant is based solely on financial need. The amount of the award is based on student need (within certain limits) and on how much money Congress appropriates to the program each year. It is important to apply for a Pell Grant even if you think you won’t qualify, since many college and state aid programs require it. Just check the proper box on the financial aid application.

The Academic Competitiveness Grant (ACG) provides need-based grants for the first two years of undergraduate study to full-time students. The National Science and Mathematics Access to Retain Talent (SMART) Grant is available during the third and fourth years of undergraduate study to full-time students who are majoring in physical, life, or computer sciences, mathematics, technology, or engineering or in a foreign language determined critical to national security. These two grants are for U.S. citizens who are eligible for the federal Pell Grant, and who have successfully completed a rigorous high school program, as determined by the state or local education agency and recognized by the Secretary of Education.

Stafford Student Loans

The Stafford Student Loan (formerly the Guaranteed Student Loan) is a federally subsidized loan program that allows the student to borrow from private lenders and the government at lower interest rates. Families with high incomes are eligible for the program if certain needs tests are satisfied. The loan is insured either by the federal government or a state agency.

Banks and other lending institutions voluntarily take part in the loan program. Repayment of principal and interest is deferred until six months after a student graduates or leaves school, and standard repayment is made over a 10- to 30-year period, depending upon the amount owed. An undergraduate may borrow up to certain limits each school year under the program. The government pays the interest for all undergraduate and graduate school years and for six months after the last class.

PLUS Loans for Undergraduates

PLUS loans are available to parents of dependent undergraduate students, and to graduate or professional students who reach their Stafford Loan limits. Repayment of a PLUS loan begins 60 days after parents receive the money, and lenders typically establish a repayment period of 10 to 25 years. Graduate students may defer payment while in school at least half-time.

Supplemental Education Opportunity Grant

A Supplemental Education Opportunity Grant (SEOG) is a grant to a student with demonstrated financial need. The money is sent by the federal government directly to the colleges, which determine the award amount and dispense the money to the students. (These are in addition to Pell Grants.) The Department of Education allocates a specific amount of money to each participating college. Once distributed, there are no additional sums. Applications are made through the academic institution’s office of financial aid. Early application is strongly recommended.

College Work-Study Program

The College Work-Study Program is a program administered by each participating college to provide employment for students who demonstrate financial need. The federal government grants funds to colleges for this purpose. Students normally obtain employment under this program as part of an overall financial aid package. They generally work 12 to 15 hours per week during school sessions, and up to 40 hours a week during vacation periods. Examples of college employment include library clerks, faculty aides, maintenance workers and cafeteria workers. The awards are determined by the colleges, and once a student has earned the full award amount, employment is terminated for that academic year.

Application is made through the college financial aid office. Eligibility is based solely on financial need. Students must be enrolled at least half-time in an accredited college and maintain good academic standing while employed. These earnings will not reduce the student’s financial aid eligibility, however funds are limited, so apply early.

The Perkins Loan

Perkins Loans (formerly National Direct Student Loans) are administered by colleges that also act as lenders. Eligibility is based on the student’s calculated need. Although the interest rate is low, funds are limited and students should submit the financial aid application early. A student will pay no interest while still in school. There is a nine-month grace period after leaving college. Repayment is stretched out over 10 years.

State Programs

State governments also offer a variety of assistance programs. But most state assistance is available only to state residents attending schools within that state. Some states do make exceptions and permit state residents to attend out-of-state schools. A few states allow nonresidents to receive assistance while attending a school within the state or have reciprocity arrangements with other states.

Many states have special programs for teachers and National Guard enlistees. Others offer work-study programs and special academic supplements. Application procedures vary from state to state. While most states allow the student to use one of the same need analysis application forms used by the federal programs, some states require separate application forms that must be completed for state programs. Students may find out about state programs and requirements through their high school guidance counselor, college financial aid office or a state agency.

It is important to begin early and thoroughly investigate all potential sources of financial aid. Your child’s college placement office can be a good starting point for information on financial aid sources.

This communication is not intended to be tax or legal advice and should not be treated as such. Each individual’s situation is different. You should contact your tax and/or legal professional to discuss your personal situation.

This article was prepared by Wealth Management Systems Inc. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. We suggest that you discuss your specific situation with a qualified tax or legal advisor. Please consult me if you have any questions.

Because of the possibility of human or mechanical error by Wealth Management Systems Inc., or its sources, neither Wealth Management Systems Inc., nor its sources guarantees the accuracy, adequacy, completeness or availability of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. In no event shall Wealth Management Systems Inc. be liable for any indirect, special or consequential damages in connection with subscribers’ or others’ use of the content.

 ~ Marianne 408-295-6656 marianneadoradio@gmail.com ~

Tracking #1-302800

Joe Guttadauro, MBA
1165 LINCOLN AVE, STE 330
SAN JOSE, CA 95125

Review, Renew, and Refurbish

Several years ago, I read that September was the busiest month of the year for events, trade shows, major workshops and more. Perhaps we never lose the sense of going back to school in the Fall and wanting to be learning and expanding ourselves.

With that in mind, it's a good time to "Review" ourselves and our careers. If you are feeling "blah" about your job or know that some aspects aren't working for you, take a look at your career priorities, Do you want more flexibility at work? Perhaps, you are hoping for a new project  that will engage you and challenge you. Lately, have you been thinking of starting your own business, or changing industries or professions? This is your "Review" time. List all the priorities you need to be most satisfied in the work that you do. Then, weight each one's level of importance to you. Your priorities may have changed and it's important to understand that. Your new list will give you an objective view of how your job is currently meeting your work life criteria. If it is, celebrate! If not, continue down the path of change and make a career adjustment.

Next, take time to "Renew" yourself. Sign up for a class that will expand your technical knowledge or increase your effectiveness at work. Find out how to start your own business. See a career counselor to support career change. Read a book that will help you evaluate your career interests, talents, skills and goals. Here's a link to the top 10 books to assist with career change that I highly recommend. http://humanresources.about.com/od/smallbusiness/tp/careersearch.--A3.htm
Also, doing something creative or fun or  taking a day off or a drive through the mountains are all ways of renewing and gaining a new perspective that will help guide you through this process.

Thirdly, "Refurbish" your resume. Even if you don't know your exact next target, you can create a resume template that you can build on later.  Creating or refurbishing your resume is a very positive experience. You focus on what talents and strengths you have and the accomplishments about which you are most proud. Working on your resume with a career counselor will build your confidence and help steer your professional direction whether it's down the same path or a completely new one.

~ ~

If you are in a situation where you need assistance in getting into that right job or getting back into a role that makes you happy,  I'd love to assist. *

Marianne   408-295-6656  

* I do sliding scale for those who need that assistance. 

Tuesday Tip: Focus on Strengths & Build Your Confidence

Whether it is writing your resume or preparing for an interview, being focused on your strengths and what sets you apart "in a good way" is going to make a difference. It brings up your confidence and reflects positively on your resume and during interviews.

 

Several weeks ago, I received an email from a recent college grad to say "Thanks for all your words of advice (that) gave me a great sense of confidence and I think that was evident during the interview 

process." He landed a job in HR at one of the leading tech companies. I have a heart for assisting new grads, those soon to graduate, or those fairly recent grads who were hit by the downturn. It's been a rough 6 years when many grads who, in the past would have landed a job immediately after college, are still struggling to find the way into the right role and "catch up" so to speak. 

 

My advice to the still lingering college grads and more experienced adult professionals who remain unemployed or under employed is choose your focus, leverage your strengths/talents and don't give up. Find your support system of people who know what you do well and keep them close at hand. We all have periods in our lives when others continue to point out our strengths and help us keep our confidence from completely dying out. My best friend has believed in me over the years and pointed out natural talents that no one else noticed.  Aware of those, I've been able to leverage them in my marketing and often share stories about my own unique strengths and process to encourage my clients.

 

If you are struggling, no matter what your situation, reach out to those who believe in you; seek advice from wise and practical people; and, ask for positive feedback about what you do well. Even if it's  been awhile since you've been able to land the right job and "shine," there is always a way to work former examples into a current resume and talk about your unique strengths confidently in an interview.

 

And, today, I received a note from a parent who said "just wanted to update you that (my son)  has a new job ... (and is) doing Sales/Account Mgt. Your counseling put him on the right track!" I'm glad because that's what it's all about.

~ ~

If you are in a situation where you need assistance in getting into that right job or getting back into a role that makes you "shine," I'd love to assist. *

Marianne   408-295-6656  

 

* I do sliding scale for those who need that assistance. 

Start of Spring: Checking In

Ralph Waldo Emerson said: " Though we travel the world over to find the beautiful, we must carry it with us or we find it not."
  

Speaking of travel, have you ever opted for a "staycation" instead of heading to another destination? I am presently on a Staycation. To me it is a time to have "very limited" access on the business world side of things and a lot of access to self through rest and rejuvenation activities. I have 6 days to go but on the first day, I read the quote above. It reminded me of the beauty in my life because of the people in it - all of you. Whether you are client, friend, colleague or a combination of these, I am so appreciative for having the connections with you. It enhances the beauty of my own life.

I wanted to take a moment to thank you and wish you all the best that Spring has to offer. It's a time of refreshment and renewal. Often, it's an invitation to create or do something new in some part of our life. I've been signing up for creative workshops and silent retreat days offered locally (in line with my "staycation"). See information at end of email.

So, "Happy Spring!" And, may you enjoy its beauty and time of renewal  whether you are pausing in the present moments or taking a few hours, a day, or more for your own spring break in order to be ready for what this season has in store for you.

~ ~

If you are interested, here is more for you:

RETREAT AND CREATIVE RENEWAL PRACTICES ~
~ Donnalynn Chase workshops  http://soul2express.com/
~ Susan Rowland offerings, Contemplative Center of Silicon Valley http://www.sanjosepby.org/events/soul-space/

Marianne   408-295-6656 

Tuesday Tip: Choose Your Work Colleagues & Play Mates

As a Career Counselor, it's important for me to assist clients in understanding their own values and how values are foundational to finding our best fit for work, community involvement and other group affiliations. Our values define what we hold to be true about ourselves and what is important in the way we live out our work and personal life. They are at our "core" and usually remain consistent throughout our lives sometimes changing slightly with a "season of life" transition like starting a family or retiring.


I'm very involved in a local music organization. The reason we came together was because of our passion for this music gendre, the Blues. However, the reason that we stay together is because we have a similar foundation of values. We like working together and "fit". What makes a particular band stay together for many years? They have a synchronicity in the music they create and perform together. But, it goes beyond that. It's personality styles and getting along. I think it's also that they have enough commonality of core values so they build upon their like mindedness and it's a good fit for a long time.

The same is true inside companies and organizations. Culture is shaped around the values established early on in a company's formation and lived out by the top leadership team. If your values fit with the organization, you are in sync. If you are disappointed a lot of the time, or frustrated with the mission and vision, or lack of it, or you feel like the odd man, or woman, out, it may be time to reassess and look for a better values fit.

I want to send you on your way today with a quote shared via Dr. Bernie Rock's newsletter from Latin Rock, Inc. Reading this, inspired me. Thanks, Bernie!

 

"Sometimes the most ordinary things could be made extraordinary, simply by doing them with the right people." 

~  Elizabeth Green  

~ ~ 

Have a great week~

Marianne   408-295-6656 

REGISTER HERE: http://www.ucsc-extension.edu/content/spring-hr-forum-march-27

March 27th 8-10am, free event

"Talk Your Way into the C-Suite": Learn how to quickly capture top leaders' attention and gain their support

We hear more and more about understanding HR's value to the Business and making the business case.  Now, it's time to put this into action and communicate with impact to Senior Leaders. Join us at UCSC Extension in Silicon Valley on Thursday, March 27th, 8-10am, to hear from Rick Gilbert, Ph.D. and Founder of PowerSpeaking, http://www.powerspeaking.com/

Learn the proven secrets of powerful executive presentations including:

·         Making your first line your bottom line

·         Using appropriate delivery style

·         Reducing or eliminating PPT

·         Improv: Being flexible

·         Managing the 7 “Deadly Challenges.”

By the time you leave, you will understand the importance of practicing these rules for your career success and the success of your HR team.

 

Frederick Gilbert is the founder of PowerSpeaking, Inc., a speech communication training company in Redwood City. Prior to this he held Quality and Communication roles in High Tech. Rick's coaching  of over 200 senior-level executives led to the creation of the award winning  Speaking Up: Presenting to Executives.  The program won The 2004 Best Buys by Training Magazine, was recommended by Fortune Magazine, and won the Brandon Hall “Excellence in Learning” award for 2011. It features video interviews with 21 C-level executives about how to present effectively at top-level meetings. His book, “Speaking Up: Surviving Executive Presentations” was published by Berrett-Koehler in April, 2013.

 

This event is sponsored by:
Executive Search Firm, Lewis Partners, LLC, http://www.lewis-partners.com/
Career Coaching & Training, Design Your Direction http://www.designyourdirection.com/

UCSC Extension in Silicon Valley. http://www.ucsc-extension.edu/

 

Tuesday Tip: Communicating with Success

Being an effective communicator is such an important skill in business. A former manager of mine, who was very influential in my career life, shared a model of communication feedback years ago. This model has a 4-pronged approach. I'm sharing it with you now so that you may add it to your resources for effective communication.

4-pronged model:

1. Explain your observations to the other person.
2. Describe what you felt or thought.
3. Own your feelings / thoughts and take the other person "off the hook".
4. Ask for feedback from the other person.

Here's an example:

1. In yesterday's meeting,  you expressed dissatisfaction with the project outcomes and raised your voice when doing so.
2. I thought that we had met all of the specifications and felt surprised, unprepared and uncomfortable with this part of the presentation.
3. You probably didn't know that it was the first time our team was hearing this information. Therefore, you most likely didn't know that I felt surprised and unprepared.
4. Would you let me know your thoughts? Thanks. 

From here, you continue an objective dialogue.   

There are some additional key points to keep in mind. Taking time to prepare for a feedback conversation is important. I often prepare and then run it by a trusted colleague before scheduling the feedback meeting.  When communicating, the message (what I say) may not be received exactly the way I intended. Therefore, I recommend checking in along the way to insure that the message is clearly understood. I try to ask clarifying questions like "Would you be more specific?". And, practicing active listening (http://en.wikipedia.org/wiki/Active_listening), a tool often used in conflict resolution, is very helpful. Giving and receiving effective feedback takes a lot of practice. With time, it does become more comfortable and you find that you have positive outcomes. 

~ ~ 

Further resources for Active Listening:
http://www.mindtools.com/CommSkll/ActiveListening.htm
http://www.studygs.net/listening.htm
http://www.colorado.edu/conflict/peace/treatment/activel.htm

Have a great week~

Marianne   408-295-6656