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NEWS
Scholarships a hot commodity in faltering economy
HUNTINGTON -- This time of year, scholarships from local organizations, government agencies, academic organizations and employers are hot commodities.
That's especially true in a faltering economy, as high school graduates and their parents strive to keep the cost of a college education at a minimum at a time when they might be worrying about other expenses.
Students have been sending scholarship applications to a variety of places in hopes of minimizing their after-college debt.
Huntington High School senior Michael Bay said the financial aspect of college played a big factor in his decision to attend the University of Oklahoma. Bay said he applied to a number of colleges, including Carnegie Mellon University, Brown University, Boston College and Georgia Tech.
He chose the University of Oklahoma because he received a full scholarship to study physics. Bay said he plans to become a physics professor after going to grad school.
"I didn't want to get into too much debt for undergraduate school because I'd go back and get into more debt for graduate school," Bay said. "Finance was the reason I chose Oklahoma."
Melissa Mooney, a counselor at Cabell Midland High School who specializes in financial loan and scholarship information, said she's been fielding calls for the past few months from parents wanting to know about ways they can save on college tuition.
"The parents call me more than the students," Mooney said. "(The students) don't see the urgency or the importance of it.
"A lot of students just think that mom and dad will pay for it," she said.
Mooney said dozens of parents attended the annual financial aid fair in January. The event provides parents with information and resources to guide them through the financial aid process. Since the fair, the guidance department at Cabell Midland has been inundated with calls about what parents need to do to prepare their children for college.
Mooney said the school helps sign up each senior for the Federal Pell Grant Program, which provides need-based grants to low-income undergraduates. Students are also signed up for the Free Application for Federal Student Aid, or FAFSA.
This ensures students have the opportunity to find out if they are eligible for any government assistance.
Many students, however, rely on the West Virginia PROMISE Scholarship to fund their college education, Mooney said. The program provides West Virginia high school graduates meeting certain requirements a full tuition scholarship to a state college or university in West Virginia.
For students unable to gather much money from scholarships or financial aid, Mooney suggests students join a work-study program at college. The programs allow the students a small stipend for working 20 hours a week at the university.
Students who are on top of applying for scholarships and finding information on financial aid, Mooney said, are typically the students who have struggled the most financially. Those students, she said, take financial aid more seriously.
Mooney said she encourages all students to take advantage of local scholarships offered by community organizations, fraternal organizations, women's groups and local employers. Local organizations such as the Rotary and Lions clubs offer scholarships that total hundreds of dollars.
Mooney said she's noticed a "slight increase" in local scholarships offered to this year's graduates.
"$500 here, $1,000 there. It really adds up," Mooney said. "Every little bit counts."
That's exactly the way Huntington High senior John Castillo felt while applying to colleges this year. Knowing he was unable to afford Ohio State University's tuition, Castillo began applying for scholarships.
He received the National Buckeye Scholarship, the Air Force ROTC Scholarship and the Chick-fil-A Scholarship. His college education, he said, is virtually paid for.
"I wanted to attend a good school and not be in debt for the rest of my life," Castillo said. "I won't be paying as much as a run-of-the-mill student."
Castillo estimated he'll be paying about $3,000 for his total undergraduate education at Ohio State. He is still waiting to hear if he has received an additional $2,000 from Chick-fil-A.
Castillo said he will enter his freshman year as a chemistry major and may attend medical school following his undergraduate work. Castillo said he feels secure knowing he'll have work waiting for him after college, due to the dedicated service requirement for the Air Force scholarship.