Federal Work Study programs offer jobs to undergraduate and graduate students to allow them to earn the money they need to pay their educational expenses. Federal Work Study programs are designed to encourage community work, and work related directly to the student's major. The income you can earn will be at least minimum wage, and may be higher depending on the nature of the work performed.
The total amount of your Federal Work Study award depends on when you apply, the level of need, and the funding level of the school. You are not allowed to earn money in excess of the award under the program. You may of course earn money elsewhere. Undergraduates earn money on an hourly basis, and graduate students may be paid hourly or be placed on a salary.
Your school is obligated to pay you directly, unless you request that they apply payments to your tuition bills, other fees, or room and board. Work may be on campus or off. Off-campus work will usually be with a private non-profit agency or public agency where you can find work in the public interest. Some schools do have arrangements with private for profit organizations where you perform work directly related to your programs of study.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.
http://www.education-online-search.com/articles/financial_aid/federal_work_study
Monday, July 30, 2007
Graduate School Financial Aid
Looking for financial aid to go to graduate school? Join the club. There are lots of people that need financial aid in order to take on the expense of going to graduate school. But take heart, there are lots of ways that you can find financial assistance. This brief article will discuss some of them, and point you at other resources that can help you explore your options further.
The first step is to determine what the schools you are interested in attending charge for tuition, and what financial aid options they offer. You should do this as part of the initial application process. Getting accepted to a graduate school that you can't afford to go to is not very helpful. Make sure that you calculate your return on investment (you can use our ROI calculator) to see when you can expect to have recouped your investment in graduate school, and begin to see a return.
So find our about all their internal options even before you look at outside options. Make sure you get all the required applications in on time. Some schools are able to offer forms of gift aid (also known as institutional aid). This is the most sought after form of aid, as it does not need to be repaid. However, it usually has additional stipulations related to scholarship merit, need, or other very specific criteria.
Graduate schools may offer employment opportunities as a form of financial aid as well. This can include working as a teaching assistant or other forms of on-campus employment. For example, internships that provide degree related experience are an interesting form of aid. All of these opportunities can be explored through the financial aid office of each school that you are considering.
There are many forms of federal financial aid programs as well. You can request a Free Application for Federal Student Aid at http://www.fafsa.ed.gov. You can also get FAFSA forms from your graduate school. This will help you get access to many federal programs, including Federal Supplemental Educational Opportunity Grants, Federal Subsidized Stafford Loans, Federal Unsubsidized Stafford Loans, Federal Perkins Loans, Federal Pell Grants, and Federal Work-Study Programs.
If you submit your FAFSA application to a school, it usually needs to be received by the school after January 1 and before March 1 for applications for the following school year beginning in the Fall. However, FAFSA applications can still be submitted on the web until June 30. FAFSA processes your application and determines your financial need level and sends the graduate school a financial aid report.
It is up to the school to determine what they consider your financial need to be, and how much you will be granted. You will need to cover the remaining amounts by other means, most likely by private loans. This can include money from individuals, corporations, or foundations. The terms under which money can be received vary greatly and will require some research. It may require some research on your part to determine which private financial source is best for you.
Some of these private sources include Sallie Mae, CitiAssist, and Access Group. These companies offer varying terms based on the available information on the student's credit history. Contact each of these groups to find out what the best terms you can get to cover your remaining expenses.
If you are part of a minority group, or a veteran, there may be other types of financial aid options available to you as well. Veterans Educational Benefits is a program for veterans who have had at least one year of active service and you can find out more about this program from the Veterans Affairs Department in Washington D.C. If you are part of a minority, and don't know where to go, ask your candidate college's financial aid officer bout options for minority based benefits.
As you can see, there are a lot of different options for paying your graduate school expenses. However, with diligent effort to explore these options you can find the best path for you.
http://www.education-online-search.com/articles/financial_aid/graduate_school_financial_aid
The first step is to determine what the schools you are interested in attending charge for tuition, and what financial aid options they offer. You should do this as part of the initial application process. Getting accepted to a graduate school that you can't afford to go to is not very helpful. Make sure that you calculate your return on investment (you can use our ROI calculator) to see when you can expect to have recouped your investment in graduate school, and begin to see a return.
So find our about all their internal options even before you look at outside options. Make sure you get all the required applications in on time. Some schools are able to offer forms of gift aid (also known as institutional aid). This is the most sought after form of aid, as it does not need to be repaid. However, it usually has additional stipulations related to scholarship merit, need, or other very specific criteria.
Graduate schools may offer employment opportunities as a form of financial aid as well. This can include working as a teaching assistant or other forms of on-campus employment. For example, internships that provide degree related experience are an interesting form of aid. All of these opportunities can be explored through the financial aid office of each school that you are considering.
There are many forms of federal financial aid programs as well. You can request a Free Application for Federal Student Aid at http://www.fafsa.ed.gov. You can also get FAFSA forms from your graduate school. This will help you get access to many federal programs, including Federal Supplemental Educational Opportunity Grants, Federal Subsidized Stafford Loans, Federal Unsubsidized Stafford Loans, Federal Perkins Loans, Federal Pell Grants, and Federal Work-Study Programs.
If you submit your FAFSA application to a school, it usually needs to be received by the school after January 1 and before March 1 for applications for the following school year beginning in the Fall. However, FAFSA applications can still be submitted on the web until June 30. FAFSA processes your application and determines your financial need level and sends the graduate school a financial aid report.
It is up to the school to determine what they consider your financial need to be, and how much you will be granted. You will need to cover the remaining amounts by other means, most likely by private loans. This can include money from individuals, corporations, or foundations. The terms under which money can be received vary greatly and will require some research. It may require some research on your part to determine which private financial source is best for you.
Some of these private sources include Sallie Mae, CitiAssist, and Access Group. These companies offer varying terms based on the available information on the student's credit history. Contact each of these groups to find out what the best terms you can get to cover your remaining expenses.
If you are part of a minority group, or a veteran, there may be other types of financial aid options available to you as well. Veterans Educational Benefits is a program for veterans who have had at least one year of active service and you can find out more about this program from the Veterans Affairs Department in Washington D.C. If you are part of a minority, and don't know where to go, ask your candidate college's financial aid officer bout options for minority based benefits.
As you can see, there are a lot of different options for paying your graduate school expenses. However, with diligent effort to explore these options you can find the best path for you.
http://www.education-online-search.com/articles/financial_aid/graduate_school_financial_aid
PLUS Loans
PLUS Loans are loans that your parents can get to pay for your undergraduate degree expenses provided that you are enrolled at least half time. A key requirement of this is that your parents must have no adverse credit history. Your parents can apply by filling our a PLUS Loan application. While it is not required, having the student fill out a FAFSA form enables their parents receive the maximum amount of financial aid for which the student is eligible.
One of the most attractive parts of PLUS loans is that there is no need to determine your "Expected Family Contribution" (EFC) as must be done with other form of federal financial aid. This makes the process simpler. However, you are still limited to the amount of money required to pay your tuition, fees, room and board.
After filling out the loan application, one of the first steps is a credit check. If they do not pass the credit check, your parents will need to get someone with better credit history to co-sign the loan, or demonstrate that there were extenuating circumstances leading to the past credit problems.
Under Direct Loan programs, it will not be necessary to find a lender, as the federal government will be the lender. Under a FFEL Program, your parents will need to find a participating lender. Contacting your school or your state's education agencies is a good place to start
The amount your parents can borrow is equivalent to the amount you need to pay in educational expenses (tuition, fees, room and borad) minus the amount you receive in other financial aid. So if your educational expenses are $5000, and you receive $3000 in other finiancial aid, your parents could then borrow an additional $2000 as part of a PLUS loan.
Your school first received the funds, and then may require your parents to immediately endorse a check back to the school. The amounts received will first be applied to tuition, fees, and room and board, and any leftover amounts will be sent to your parents, unless they authorize the release of the funds back to you.
Your school is required to notify you in writing of each deposit to your account (or to send you a check). You may cancel the loan at any time by providing a notice in writing to your school. Once you provide such notice, you will receive no more funds, and if you provide such notice within 14 days of the last deposit to your account (or the date of the last check), you may return that last deposit (or check). All other funds you may have received prior to that, however, still constitute a loan and still need to be repaid.
The interest rate is variable, but will not exceed 9 percent. For the perdio from July 1, 2003 to June 30, 2004, the interest rate was set at 4.22 percent. Interest rates are adjusted every year on July 1. Your parents will have to pay a fee of up to 4% of the total amount of the loan.
PLUS Loans do not come with a grace period. Repayment must begin within 60 days of the initial receipt of funds. Under certain circumstances your parents can obtain additional deferrments, but these types of deferrment must be applied for, and are not automatic. The federal government subsidizes the interest during any deferrment.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.
http://www.education-online-search.com/articles/financial_aid/plus_loans
One of the most attractive parts of PLUS loans is that there is no need to determine your "Expected Family Contribution" (EFC) as must be done with other form of federal financial aid. This makes the process simpler. However, you are still limited to the amount of money required to pay your tuition, fees, room and board.
After filling out the loan application, one of the first steps is a credit check. If they do not pass the credit check, your parents will need to get someone with better credit history to co-sign the loan, or demonstrate that there were extenuating circumstances leading to the past credit problems.
Under Direct Loan programs, it will not be necessary to find a lender, as the federal government will be the lender. Under a FFEL Program, your parents will need to find a participating lender. Contacting your school or your state's education agencies is a good place to start
The amount your parents can borrow is equivalent to the amount you need to pay in educational expenses (tuition, fees, room and borad) minus the amount you receive in other financial aid. So if your educational expenses are $5000, and you receive $3000 in other finiancial aid, your parents could then borrow an additional $2000 as part of a PLUS loan.
Your school first received the funds, and then may require your parents to immediately endorse a check back to the school. The amounts received will first be applied to tuition, fees, and room and board, and any leftover amounts will be sent to your parents, unless they authorize the release of the funds back to you.
Your school is required to notify you in writing of each deposit to your account (or to send you a check). You may cancel the loan at any time by providing a notice in writing to your school. Once you provide such notice, you will receive no more funds, and if you provide such notice within 14 days of the last deposit to your account (or the date of the last check), you may return that last deposit (or check). All other funds you may have received prior to that, however, still constitute a loan and still need to be repaid.
The interest rate is variable, but will not exceed 9 percent. For the perdio from July 1, 2003 to June 30, 2004, the interest rate was set at 4.22 percent. Interest rates are adjusted every year on July 1. Your parents will have to pay a fee of up to 4% of the total amount of the loan.
PLUS Loans do not come with a grace period. Repayment must begin within 60 days of the initial receipt of funds. Under certain circumstances your parents can obtain additional deferrments, but these types of deferrment must be applied for, and are not automatic. The federal government subsidizes the interest during any deferrment.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.
http://www.education-online-search.com/articles/financial_aid/plus_loans
Tuesday, July 24, 2007
About The SAT Reasoning Test
The SAT Reasoning Test (formerly the SAT I: Reasoning Test and the SAT Test) is a 3 hour and 45 minute test designed to measure a student's "critical reasoning" skills. There are three types of SAT questions on the SAT Reasoning Test:
1. Critical Reading
2. Math
3. Writing
An SAT score is delivered for each of the three SAT question areas. Each score is on the familiar 200 to 800 scale. SAT Writing also has two sub scores:
1. A sub score for the multiple choice questions on a scale of 20 to 80; and
2. A sub score for the essay on a scale of 2 to 12
The test is administered in multiple timed segments always starting with the 25-minute essay and ending with a 10-minute multiple choice writing section. The remaining segments (six 25-minute and two 20-minute) can be delivered in any order.
The Unscored Section
One of the test sections on the SAT Reasoning Test is an unscored section. The unscored section will have SAT questions all of the same type. The questions may be critical reading, math, or writing (multiple choice, not an essay). This section does not count in a student's SAT score. It is used to try out new questions and for statistical purposes.
Comparing the SAT I: Reasoning Test and the SAT Reasoning Test
The following table gives a brief comparison of the old SAT (the SAT I: Reasoning Test) with the New SAT (the SAT Reasoning Test). The biggest change is the addition of the new writing section. This is in line with the fact that the majority of leading colleges and universities now require scores from a standardized writing test. As College Board President Gaston Caperton explained, "With the addition of the writing section, it [the SAT} will be even more valuable in assessing the academic skills students need to succeed in college and today's workforce." (Quote source: August 31, 2004 College Board Press Release).
Old SAT
SAT I: Reasoning Test
Time: 3 hours New SAT
SAT Reasoning Test
Time: 3 hours and 45 minutes
Math
Score M 200-800 Math - Enhanced with higher level math form third year college prep math courses
Score M 200-800
Verbal
Score V 200-800 Critical Reading - Short and long reading passages, sentence completions. Analogies eliminated.
Score CR 200-800
Writing - This is a completely new section that did not exist on the previous test.
Score W 200-800
Table: Old SAT vs. New SAT
Can the SAT I and SAT Reasoning Test Scores be Compared?
The answer is both yes and no. For the new Writing part of the test there is nothing in the old SAT to compare to. The new math SAT score may be compared with the old test's math SAT score. Similarly, the new Critical Reading SAT score may be compared with the old test's Verbal SAT score.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_sat_reasoning_test
1. Critical Reading
2. Math
3. Writing
An SAT score is delivered for each of the three SAT question areas. Each score is on the familiar 200 to 800 scale. SAT Writing also has two sub scores:
1. A sub score for the multiple choice questions on a scale of 20 to 80; and
2. A sub score for the essay on a scale of 2 to 12
The test is administered in multiple timed segments always starting with the 25-minute essay and ending with a 10-minute multiple choice writing section. The remaining segments (six 25-minute and two 20-minute) can be delivered in any order.
The Unscored Section
One of the test sections on the SAT Reasoning Test is an unscored section. The unscored section will have SAT questions all of the same type. The questions may be critical reading, math, or writing (multiple choice, not an essay). This section does not count in a student's SAT score. It is used to try out new questions and for statistical purposes.
Comparing the SAT I: Reasoning Test and the SAT Reasoning Test
The following table gives a brief comparison of the old SAT (the SAT I: Reasoning Test) with the New SAT (the SAT Reasoning Test). The biggest change is the addition of the new writing section. This is in line with the fact that the majority of leading colleges and universities now require scores from a standardized writing test. As College Board President Gaston Caperton explained, "With the addition of the writing section, it [the SAT} will be even more valuable in assessing the academic skills students need to succeed in college and today's workforce." (Quote source: August 31, 2004 College Board Press Release).
Old SAT
SAT I: Reasoning Test
Time: 3 hours New SAT
SAT Reasoning Test
Time: 3 hours and 45 minutes
Math
Score M 200-800 Math - Enhanced with higher level math form third year college prep math courses
Score M 200-800
Verbal
Score V 200-800 Critical Reading - Short and long reading passages, sentence completions. Analogies eliminated.
Score CR 200-800
Writing - This is a completely new section that did not exist on the previous test.
Score W 200-800
Table: Old SAT vs. New SAT
Can the SAT I and SAT Reasoning Test Scores be Compared?
The answer is both yes and no. For the new Writing part of the test there is nothing in the old SAT to compare to. The new math SAT score may be compared with the old test's math SAT score. Similarly, the new Critical Reading SAT score may be compared with the old test's Verbal SAT score.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_sat_reasoning_test
About The SAT
The SAT (Scholastic Aptitude Test) was created by the College Entrance Examination Board, more commonly referred to as the College Board, in the 1920s. It was first delivered in June of 1926 to just over 8,000 students. In 1927 the test was first scored on the now familiar scale of 200 to 800. By 1930, the SAT had been divided into two sections, the SAT Verbal and SAT Math sections, which have stayed with the test for most of its history. The subject specific Achievement Tests were first introduced by the College Board in April of 1937. In 1947, the Educational Testing Service (ETS) was founded to do research, assessment development, test administration and scoring, and other education related initiatives. The Educational Testing Service has been administering and scoring the SAT ever since. The PSAT (Preliminary Scholastic Aptitude Test) was introduced in October of 1959. In the 1970s, through a partnership between the College Board and the National Merit Scholarship Corporation, the PSAT was changed into the Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test (PSAT/NMSQT). In the 1993/1994 academic year, the College Board introduced a newly designed SAT Program with the SAT Test becoming the SAT I: Reasoning Test and the Achievement Tests becoming the SAT II: Subject Tests. In March of 2005 the "New SAT" was introduced after another significant redesign program. With the introduction of the New SAT, the test names changed to SAT Reasoning Test and SAT Subject Tests.
The SAT, From Modest Beginning to a Major Force
From its modest beginnings in 1927, when just over 8,000 people took the test, the SAT has grown to a record number 1,419,007 test takers in 2004, or 48% of students nationwide In 2004, 53% of SAT test takers were female with average SAT scores of 504 on the SAT verbal section and 501 on the SAT math section. 47% of SAT test takers in 2004 were male with average SAT scores of 512 on the SAT verbal section and 537 on the SAT math section.
SAT, SAT I, SAT Reasoning Test - What's In a Name?
In a little over 10 years there have been two redesigns of the SAT test and several name changes. Enough has changed to possibly lead to some confusion. The SAT Program (referred to as the Admissions Testing Program prior to 1994) is one of the major programs of the College Entrance Examination Board, or College Board. The College Board's other major programs include the PSAT/NMSQT and the Advanced Placement Program (or AP).
The SAT Program includes:
1. The SAT Reasoning Test. This is what most people simply refer to as "the SAT". Prior to 2005 this test was referred to as the SAT I: Reasoning Test. Prior to 1994 it was simply the SAT.
2. The SAT Subject Tests. These can also be referred to simply as "Subject Tests". Prior to 2005 these were referred to as SAT II: Subject Tests. Most parents, and anyone who took the tests prior to 1994, would remember these as Achievement Tests. Subject tests are available in: English, history and social studies, mathematics, science and languages.
The "New SAT"
The New SAT represents the first major redesign of the SAT Program since the 1993/1994 academic year. Introduced in March of 2005, major changes have been made to the SAT Reasoning Test including:
* The addition of a new writing section with a written essay as well as multiple choice questions.
* In the math section, higher-level math, including topics from third-year college prep math courses, is now included.
* A Critical Reading Section (previously known as the verbal section) which includes short and long reading passages. Analogies have been eliminated.
Very little, beyond the name, has changed in the SAT Subject Tests. There is no longer an SAT Subject Test on writing since writing has been added to the SAT Reasoning Test.
The Purpose of the SAT
The SAT Program is designed to facilitate the college admissions process by providing a nationally standardized way of measuring critical thinking skills and knowledge. The intent of the test is to measure how well a student has mastered the skills necessary to be successful in college. Grades alone do not accomplish this because they are not standardized across schools. Standardized tests, such as the SAT, are one of the components used by colleges and universities in their admissions process, along with: a student's grades, high school transcripts, extra-curricular activities, written essays, and, potentially, interviews.
Note: All statistics quoted in this article are from an August 31, 2004 press release from the College Board.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_sat
The SAT, From Modest Beginning to a Major Force
From its modest beginnings in 1927, when just over 8,000 people took the test, the SAT has grown to a record number 1,419,007 test takers in 2004, or 48% of students nationwide In 2004, 53% of SAT test takers were female with average SAT scores of 504 on the SAT verbal section and 501 on the SAT math section. 47% of SAT test takers in 2004 were male with average SAT scores of 512 on the SAT verbal section and 537 on the SAT math section.
SAT, SAT I, SAT Reasoning Test - What's In a Name?
In a little over 10 years there have been two redesigns of the SAT test and several name changes. Enough has changed to possibly lead to some confusion. The SAT Program (referred to as the Admissions Testing Program prior to 1994) is one of the major programs of the College Entrance Examination Board, or College Board. The College Board's other major programs include the PSAT/NMSQT and the Advanced Placement Program (or AP).
The SAT Program includes:
1. The SAT Reasoning Test. This is what most people simply refer to as "the SAT". Prior to 2005 this test was referred to as the SAT I: Reasoning Test. Prior to 1994 it was simply the SAT.
2. The SAT Subject Tests. These can also be referred to simply as "Subject Tests". Prior to 2005 these were referred to as SAT II: Subject Tests. Most parents, and anyone who took the tests prior to 1994, would remember these as Achievement Tests. Subject tests are available in: English, history and social studies, mathematics, science and languages.
The "New SAT"
The New SAT represents the first major redesign of the SAT Program since the 1993/1994 academic year. Introduced in March of 2005, major changes have been made to the SAT Reasoning Test including:
* The addition of a new writing section with a written essay as well as multiple choice questions.
* In the math section, higher-level math, including topics from third-year college prep math courses, is now included.
* A Critical Reading Section (previously known as the verbal section) which includes short and long reading passages. Analogies have been eliminated.
Very little, beyond the name, has changed in the SAT Subject Tests. There is no longer an SAT Subject Test on writing since writing has been added to the SAT Reasoning Test.
The Purpose of the SAT
The SAT Program is designed to facilitate the college admissions process by providing a nationally standardized way of measuring critical thinking skills and knowledge. The intent of the test is to measure how well a student has mastered the skills necessary to be successful in college. Grades alone do not accomplish this because they are not standardized across schools. Standardized tests, such as the SAT, are one of the components used by colleges and universities in their admissions process, along with: a student's grades, high school transcripts, extra-curricular activities, written essays, and, potentially, interviews.
Note: All statistics quoted in this article are from an August 31, 2004 press release from the College Board.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_sat
About The PSAT NMSQT
The PSAT/NMSQT (Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test) was first introduced in 1959 as the PSAT. In the 1970s, through a partnership between the College Board and the National Merit Scholarship Corporation, the PSAT was changed into the Preliminary Scholastic Aptitude Test/National Merit Scholarship Qualifying Test (PSAT/NMSQT). The PSAT/NMSQT serves two purposes:
1. As the preliminary SAT, the PSAT/NMSQT provides a student with a means to become familiar with the format of the SAT Reasoning Test in an actual test environment while also providing feedback, through the score, on areas for focus for SAT prep.
2. It is the qualifying test allowing students to compete for National Merit Scholarships.
Format of the PSAT/NMSQT
The PSAT/NMSQT is not as long or rigorous as the SAT Reasoning Test. The PSAT/NMSQT is 2 hours and 10 minutes in length. Like the SAT Reasoning Test, it is divided into three sections:
1. Critical Reading - this is a 50 minute section
2. Math- this is a 50 minute section
3. Writing - this is a 30 minute section
Most of the questions on the PSAT/NMSQT are multiple choice. There are some "student-produced response" or grid-in questions in the math section. In grid-in questions a student must write their answer in the supplied grid. There is no student-written essay on the PSAT/NMSQT as there is on the SAT Reasoning Test.
The PSAT/NMSQT Score
As with the SAT Reasoning Test, three scores are delivered for the PSAT/NMSQT, one each for the Critical Reading, Math, and Writing sections. Unlike the SAT Reasoning Test, the scores are on a 20 to 80 scale, and there are no sub scores for the writing section. In addition, a "Selection Index", which is simply the addition of the three scores, is also reported. The Selection Index is used in the National Merit Scholarship qualifying process.
Typically, a student's high school will deliver their PSAT/NMSQT scores to them.
When to Take the PSAT/NMSQT
A student should plan on taking the PSAT/NMSQT in the fall of their junior year. Students must take the test in the fall of their junior year to potentially qualify for the National Merit Scholarship competition. Many students first take the PSAT/NMSQT in the fall of their sophomore year. Students who take the test in their sophomore year do not qualify for the National Merit Scholarship competition and must retake the test in the fall of their junior year to compete.
Where to Take the PSAT/NMSQT
The PSAT/NMSQT is not given in test centers as is the SAT Reasoning Test. It is given at a student's high school or other school in their community. Students should check with their school's guidance counselor for test dates, times, and locations.
National Merit Scholarship Notification
Notification of qualification as a "Commended Student" or National Merit Scholarship Semifinalist happens automatically in September of a student's senior year. A student's school will notify them.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_psat_nmsqt
1. As the preliminary SAT, the PSAT/NMSQT provides a student with a means to become familiar with the format of the SAT Reasoning Test in an actual test environment while also providing feedback, through the score, on areas for focus for SAT prep.
2. It is the qualifying test allowing students to compete for National Merit Scholarships.
Format of the PSAT/NMSQT
The PSAT/NMSQT is not as long or rigorous as the SAT Reasoning Test. The PSAT/NMSQT is 2 hours and 10 minutes in length. Like the SAT Reasoning Test, it is divided into three sections:
1. Critical Reading - this is a 50 minute section
2. Math- this is a 50 minute section
3. Writing - this is a 30 minute section
Most of the questions on the PSAT/NMSQT are multiple choice. There are some "student-produced response" or grid-in questions in the math section. In grid-in questions a student must write their answer in the supplied grid. There is no student-written essay on the PSAT/NMSQT as there is on the SAT Reasoning Test.
The PSAT/NMSQT Score
As with the SAT Reasoning Test, three scores are delivered for the PSAT/NMSQT, one each for the Critical Reading, Math, and Writing sections. Unlike the SAT Reasoning Test, the scores are on a 20 to 80 scale, and there are no sub scores for the writing section. In addition, a "Selection Index", which is simply the addition of the three scores, is also reported. The Selection Index is used in the National Merit Scholarship qualifying process.
Typically, a student's high school will deliver their PSAT/NMSQT scores to them.
When to Take the PSAT/NMSQT
A student should plan on taking the PSAT/NMSQT in the fall of their junior year. Students must take the test in the fall of their junior year to potentially qualify for the National Merit Scholarship competition. Many students first take the PSAT/NMSQT in the fall of their sophomore year. Students who take the test in their sophomore year do not qualify for the National Merit Scholarship competition and must retake the test in the fall of their junior year to compete.
Where to Take the PSAT/NMSQT
The PSAT/NMSQT is not given in test centers as is the SAT Reasoning Test. It is given at a student's high school or other school in their community. Students should check with their school's guidance counselor for test dates, times, and locations.
National Merit Scholarship Notification
Notification of qualification as a "Commended Student" or National Merit Scholarship Semifinalist happens automatically in September of a student's senior year. A student's school will notify them.
http://www.education-online-search.com/articles/testing/sat_testing/about_the_psat_nmsqt
Consolidation Loans
Consolidation Loans are loans that you or your parents can get to combine multiple loan packages you have received into a single package. This can be particularly useful when interest rates have dropped since you first got your loan, as getting a new loan may well provide you with a lower interest rate. You can pursue a Consolidation Loan at any time that you have begun repayment, or entered into a "grace period" (a period of time after you graduate prior to when you need to start loan repayments).
The interest rate on a Consolidation Loan is variable in nature, but will not exceed 8.25 percent. Consolidation Loans can have a repayment period of 10 to 30 years. You can complete repayment early. Note that if you choose a loner repayment period the the total cost of the loan is likley to exceed the cost of the original loans as the longer payment period results in more total interest. Many people try to keep the payment period shorter for that reason.
All loans covered in the financial aid articles on this site are eligible for a Consolidation Loan. If you have received a FFEL Loan, contact your lender to pursue a FFEL Consolidation Loan. For Direct Consolidation Loans, contact the Loan Origination Center's Consolidation Department at (800) 557-7392 or visit: http://www.loanconsolidation.ed.gov.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.
http://www.education-online-search.com/articles/financial_aid/consolidation_loans
The interest rate on a Consolidation Loan is variable in nature, but will not exceed 8.25 percent. Consolidation Loans can have a repayment period of 10 to 30 years. You can complete repayment early. Note that if you choose a loner repayment period the the total cost of the loan is likley to exceed the cost of the original loans as the longer payment period results in more total interest. Many people try to keep the payment period shorter for that reason.
All loans covered in the financial aid articles on this site are eligible for a Consolidation Loan. If you have received a FFEL Loan, contact your lender to pursue a FFEL Consolidation Loan. For Direct Consolidation Loans, contact the Loan Origination Center's Consolidation Department at (800) 557-7392 or visit: http://www.loanconsolidation.ed.gov.
Source: The Student Guide, published by the US Department of Education. Note that federal financial aid programs are subject to change. Check with the school(s) of your choice to get the very latest information.
http://www.education-online-search.com/articles/financial_aid/consolidation_loans
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