Cedarville University

I need all the financial aid assitance that I can recieve, paying for school is not easy and I would like to try and avoid being in debt up to my eyeballs when I graduate. Are there any suggestions as to how I can find and apply for even more financial aid than I already am? I'm on 4 or 5 different scholarship sites such as fastweb. But I feel that those sites are unlikely because so many people around the world apply on them. Any help would be very much appreciated

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Broadcasting and Digital Media Major
Graphic Design Minor
Transfer Student
Sophmore: Fall 2012
Rachel Clevenger
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Jeremiah 29:11 <3

Hi Rachel,
I'm a current student and noticed your post here.

I think you're right about being wary of sites such as Fastweb. I used that when I first arrived in Ohio and the Financial Aid Advisors told me that these sites often don't have up-to-date information and can be misleading.

Here's my top 5 suggestions for you, based on my experience:

1) Plan to get a job on campus (as soon as you arrive in August, you should be able to apply for campus jobs) - You can use this link to set up a profile for yourself (use the login information you used for your campus email/application form) and at least get that ready to go for when you arrive.

2) Contact Financial Aid and ask if you are eligible for "Federal Work Study" - this means the department that hires you will get a certain amount of cash added to their budget to pay you (meaning they don't have to spend $'s to hire you ---meaning you are more 'attractive' as a student employee). This is something that is a need-based option only though - so you may only be eligible if your EFC is below a certain rate.

3) Talk to your family about birthday/christmas gifts and ask them if they would consider buying your textbooks/software etc for your (or putting money into an account you can use for such necessities). Any help with the textbooks/computer necessities will save you taking on debt for those (and you can sell textbooks on campus afterwards, if you need the cash!)

4) Ask your parents about co-signing a loan - you may be able to get a fixed interest rate loan. At the moment, those of us on Federal Aid are nervous about the future mainly because of the uncertainty of the loan interest rates - these could skyrocket in the next two-three years, depending on Congress. If you have a Student loan from a bank or credit union, they will usually cap the interest rate (and if your co-signers have a high income rate) they may be able to secure a 'fixed rate' loan. (It's the interest that kills more than the loans themselves!)

5) Budget! Most students I know, don't keep a good record of their finances and overspend. I'd say avoid getting a credit card (or ask your RA/RD to look after it for you so you only use it in a genuine emergency). Personally, I had to adjust alot when I moved to college, and I found that there were actually some useful classes to take that help you with this. Consider taking "Personal Finance" [FIN-1710] as an elective - it's not a difficult class, is VERY life applicable and is actually kinda fun! It'll also help you work out some ideas about paying off the loans and making a plan for paying those off. [Remember most loans you can pay off while you're in school, so sticking to a budget means that when you have extra cash that comes in, you can see what loans you could pay a little off of without incurring a cost ---whereas many students choose to use their extra cash to buy a DVD set or tickets to an off-campus event. Even saving those remaining dimes over the course of a semester, can add up to a nice lump-sum to pay off some debt].

I hope that helps somewhat.

Of course the best resource is to get in touch with the Financial Aid office and chat with them about your financial needs. They often have suggestions that can help - both within the school and outside opportunities. Talking with them in person you can also find out random options to earn cash that they've observed other students succeed with. It's also neat to have people praying with you and talking honestly with you. Personally, I used to stress a lot about the financial side, but I've learned over the past 2 years that God provides, and RARELY in the way you expect. There may be times when you are short of cash, or a financial deadline is looming - but He will use Cedarville to stretch you, teach you new things and if you let Him, He will show you how to be totally dependent upon Him, the most Faithful Friend you will ever have.