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The “Secret Password” that unlocks grants and scholarships

What – you didn’t know there was a “secret password” that unlocks grants and scholarships for you? Well you’ve been living under a rock my dear friend.

Let me tell you a story about “Ali Baba and the Forty Thieves” – you see Ali Baba was a poor man and earned his living has a woodcutter. One day he sees that forty thieves have opened a cave by using a secret password.

Inside the cave there are unbelievable amounts of gold coins, jewelry and valuable treasures. Qasim, Ali Baba’s rich brother finds out and forces Ali Baba to show him the cave. Once in though, Qasim forgets how to get out and the thieves come back and find him and kill him.

The password was “Open, Sesame” and “Close, Sesame” to open and close the entrance to the treasure-filled cave. Okay – back to our main topic – so call it the buzz word, call it the password but I want you to start thinking one thing for sure, there is a password that can lead you to a free or very low-cost private university education.

You’re ready for this — okay — here it is: “Open, Neighbor.” Yes, that’s the password. Okay so how does it work? Good queston – here’s the answer. More and more private universities are awarding full scholarships or huge grants to incoming freshmen who graduate from nearby schools where the university is located. You’re their neighbor, and call it PR, call it being a good neighbor, they will give you preference over other applicants residing outside that are.

Here are a few examples to get your mind around how BIG of an opportunity this is:

1.) Northwestern University: They’ve come out with the “Good Neighbor, Great University Program“, and if you’re coming out of Evanston High School (NU is located in Evanston) or Chicago, can apply for this program.

How Much: Well, enough to cover the $40K it costs to go there for most of the students. So if you thought you couldn’t afford a top-notch university, then just repeat that password with me…did I hear you say “Open, Neighbor” – yes, that’s the password – go for it!

2.) University of Evansville: If you’re a resident of Vanderburgh County (you know it if you live in it!), then you can get up to $18K a year for all 4 years. That’s right, “Open, Neighbor”

3.) Let’s say you live in Virginia – you have access to the Virginia Tuition Assistance Grant, and if you attend a private college there, you get up to $3,200/year in grants and you can use this at up to 30 local colleges. Let’s add some more juice to this, take Sweet Briar College, you attend there you get another $7,500 discount of the tuition price (that’s in addition to the $3,200/year). So you get $10,700 total off the top and you’re still eligible for need or merit-based scholarships.

Staying with Virgina – take the example of the Highland Scholars Program at David & Elkins College. If you live in one of the 7 communities around their campus – get what! “Open Neighbor” – you get $14,000 scholarship (for those wanting to live on campus) or a $11,000 scholarship (off-campus). Can you imagine that times 4 years – that’s a $56K and $44K value respectively.

4.) Think local! That’s the key – if you’re competing for a grant with 400 students in your neighborhood – that’s sure easier than the 4,000 from all over the place. Let’s say you want to go to Boston University, and you live in the town of Brookline, well did you know there’s a scholarship just for those students who live in Brookline? Its called the Brookline High Scholarship. You see how that narrows the competition. And what’s the prize. A full-tuition, a full-ride – and its renewable.

How Do The Rich Pay for College?

If you’ve ever wanted to know how exactly various income classes pay for their college education, we’ve got some great information for you today.

Maybe you already know the answer, by the New York Times has a cool chart titled, “How the Typical Family pays for College, Average Amounts by Income Level”

Looking at the chart – it is glaringly obvious that those families where the income is $100,000 or more contribute double the amount towards their children’s college education than those families where the income is $35,000 to $100,000. All in all higher income families pick up the tab for half of their children’s college education – which makes it quite easier to afford a college education.

If you break that down further to a lower income group – we see that this “middle class” group contributes almost 4x as much towards their children’s college education then those families where the income is low (below $35,000). Obviously – low-income families cannot contribute that much, but the chart kind of gives you an idea of how everything stacks up.

How Families Pay for College?

How Families Pay for College?

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