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June, 2009

Financial Options to Achieve Higher Education Goals

In this Issue:

    Funding Higher Education and Technical Training
    Exceed Expectations with Good Workplace Skills

Funding Higher Education and Technical Training


Paying for post-high school education is not impossible, but it is very difficult for many people. Things being what they are, funding an education calls for creative approaches.

The American Recovery & Reinvestment Act (ARRA) of 2009 has created some new avenues for funding higher education. $31 billion in tuition tax credits and Pell Grants have been allocated toward higher education affordability. The maximum annual Pell Grant has been increased to $5,350, while the maximum tax credit is $2,500.

Tuition tax credits go only so far towards funding a college education. Parents, grandparents, and students need to be proactive and creative in the search for funding. Well before the search for the right college begins, 529 Savings Programs can be established. Some financial counselors suggest it is more advantageous for grandparents than parents to establish 529 accounts.

When it comes to receiving the best financial aid packages, “the family that pays together stays together” has some validity. More family members in college at the same time usually means larger financial award packages with better repayment terms. Keep this in mind when completing the Free Application for Federal Student Aid (FAFSA).

In the search for college funding, students sometimes forget some programs which have been providing financial aid for a number of years. The Federal Work-Study (FWS) program, for example, has been around since 1964. It usually provides more flexible scheduling than other jobs and is more tailored to student interests. The ARRA increased funds for this program by $200 million.

There are numerous ways to serve your community and receive loan forgiveness. AmeriCorps, VISTA, Peace Corps, and the National Health Services Corps are just some of the opportunities for students and graduates to serve and earn loan forgiveness or education awards.

ARRA Information

College funding information on the Illinois government website describes provisions in the 2009 ARRA act.

New York Times provides a synopsis of ARRA benefits.

Chicago Talks article discusses the increase in Pell Grant funding.

Illinois Specific Sites Regarding College Education Funding

Illinois Board of Higher Education website provides links to college education funding options.

Illinois Board of Higher Education website also provides Diversifying Faculty Illinois Grant information and application for future educators.

College Illinois website provides the information needed to enroll in the 529 College Savings Program.

University of Illinois at Chicago College of Education provides a list of available scholarships and other funding opportunities.

College Zone is the website of the Illinois Student Assistance Commission. It provides information on many education topics such as preparing for college, filing financial statements, and locating scholarships.

An article in the Illinois Review, which was submitted from the office of Rep. Michael Connelly, discusses the 529 Savings Program in Illinois.

University of Illinois College of Agricultural, Consumer and Environmental Sciences (ACES) offers numerous scholarships. Some are need-based and some are based on academic merit.

Student Financial Aid Sites

Don’t go anywhere without your FAFSA.

National Association of Student Financial Aid Administrators provides a website to track current bills regarding funding education.

National Association of Student Financial Aid Administrators provides an updated guide to Hope Scholarship Tax Credit (now American Opportunity Tax Credit) and Lifetime Learning Tax Credits.

2009 – 2010 Financial Aid Resource Publications (student aid handbook) is available online.

The Federal Student Aid website is a good place to start your college financial aid search.

Sallie Mae suggests receiving college loan forgiveness through community service and recommends investigating Federal Work-Study Programs to help pay for your college education.

Nellie Mae offers tips for getting the best results from filing your FAFSA. It also offers advice on how not to get scammed by non-government FAFSA sites.
 
Articles of General Interest Regarding Funding College Education

eHow offers a few thoughts about completing your FAFSA and other college funding approaches.

U.S. News article offers interesting thoughts on learning without spending top dollar.


Exceed Expectations with Good Workplace Skills


To be successful at your job, you need to have the required job skills. However, it is also very important that you have, and demonstrate, a variety of necessary workplace skills (also known as soft skills). Workplace skills are personal qualities, habits, attitudes, and social graces that make individuals good employees and compatible co-workers.

It is important, for example, to dress properly for work. Unless your job requires you to wear a uniform, it can be difficult to choose what you should wear. Of course, there are industry standards, such as the navy blue suit for accountants and bankers. But what do you wear in an industry where there really isn't a typical style of dress? We recommend that you dress for the job you want or have been hired to do. Look at what successful people in your line of work are wearing. And if you aspire to be a manager, dress like the managers in your company.
But first and foremost, no matter what you wear, your clothes should be neat and clean. Your hair should be neatly styled. Nails should be clean and neat and at a reasonable length. Your shoes should also be kept in good condition. Dressing appropriately for your job is a very visible workplace skill. Make the effort to dress for success.

This skill, and many others, will help you keep a job and excel in any work environment. Many businesses determine the job performance of their employees on a regular basis by evaluating workplace skills, attitude, behavior, the completion of assignments, and the ability to perform job duties. Learn more about desired workplace skills on Illinois workNet.

• Communicating on the Job - Example: having self control at all times and showing patience.
• Maintaining Professionalism - Examples: starting work on time and knowing when it is appropriate to visit with your co-workers.
• Solving Problems and Critical Thinking - Example: listening to the other person's viewpoint.
• Maintaining a Safe and Healthy Work Environment - Example: it is important to keep your work area clean.
• Demonstrating Work Ethics and Behavior - Examples: taking responsibility for your actions and being willing to learn.
• Maintaining Interpersonal Relationships - Example: actively listen to your boss or co-worker and allow that person to speak their viewpoint without them feeling threatened by you.
• Working as a Member of a Team - Example: when you have completed an assigned task, you should ask the boss for your next assignment.




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