This article article was published in the "New Rochelle Review" in the July 2006 issue.

“Life And Money”   TM – College Grants and Scholarships

By Frank Sisco, CPA, PFS

Copyright 2006 Frank Sisco

Word count = 568 plus 67 words for About the Author)

Most people have not saved sufficiently for college. By working with your child to obtain a grant or scholarship, you will not only raise sorely needed funds but also you will your child a great boost of confidence and the experience of planning for and accomplishing a goal.

When my daughter Kelly was in her junior year of high school, she and I tried to get grants and scholarships but were unsuccessful.   Overall, we did not apply to enough opportunities.   We started the process okay.   We enrolled in various websites, such as www.fastweb.com, that notified us by email of the hundreds of opportunities around the country.   I clipped articles from newspapers and magazines about the many children who had gotten lots of free money.   We bought and reviewed the excellent book by Ben Kaplan.   A quote from his website (www.waggledancer.com) sums it up. "In " How to Go to College Almost for Free ," you learn the game from someone who's played it well: Kaplan won more than two dozen merit-based scholarships in high school, accumulating nearly $90,000 in scholarship funds for use at any school. The book includes sections, strategies and action steps for everyone from high school and college students, to grad students and adults returning to school."   His book helped us to create a plan.   Also, Kelly and I went to seminars and workshops. But when it came to doing the work of surveying opportunities and applying, we fell short.   We often let other activities take precedence.   I blame myself for not motivating Kelly sufficiently and for not sticking to our original plan.   We missed not only an opportunity of raising needed funds and but also having a positive empowering experience.

Suggested steps.

Here are three suggested steps for getting grants and scholarships:

1.   Take inventory and set goals - Figure out, with your child, your particular set of circumstances, such as money needed, colleges sought, areas of study, your child's special talents, gifts, and experiences, relationships that could help, etc.   Set your criteria such as the type of college and location, the type of grant or scholarship, the amount of money, etc.

2.   Survey the opportunities - With your child, do a detailed search for the most achievable opportunities using the internet, your high school's financial aid office, bookstores and libraries.   While reviewing sites, sign up for the major websites so you can be notified of new opportunities as they arise that fit your criteria.   Inquire of friends and relatives of any success stories and get new leads.

3.   Go for it! -   Allocate a set schedule each week for you and your child to work your plan, which would include research, filling out applications, and following-up. Make it into a type of game with your child that is fun in order to keep the interest and motivation high. Involve both parents, and possibly grandparents and even your child's friends and their parents. Set a fun reward for your child, such as a bonus of twenty percent of the raised money can go toward buying a car or consumer electronics for him or her.   Perhaps even keep a journal, or a blog, detailing the experiences, which helps to reinforce the goal and the steps you are taking together.  

Working together with your child in order to get grants and scholarships could not only raise needed money but also help your child develop skills for future endeavors.

About the author.

Frank Sisco is a CPA and Personal Financial Specialist, and author of many articles about personal finance and issues of life and money.   His firm, Financial Management Corporation, is located in Harrison, NY.  Frank resides with his wife and daughter in New Rochelle, NY.  He can be reached at 914.381.3737 or by email at ideasmoney@aol.com.   Visit his website at www.LifeAndMoney.com, which contains this and prior articles.