Extensive Scholarship Information Online, and Free!
FastWEB, the Internet's first free scholarship-tracking service that allows users to search a database of more than 180,000 private scholarships, is a major factor in its first year of operation in the 20-year-old multi-million-dollar scholarship industry, according to a recent article in the New York Times' CyberTimes. While traditional scholarship search companies charge from $5 to $150 to run a student's profile through their private databases, FastWEB (http://www.studentservices.com/amex/) sells advertising to keep its service free, CyberTimes reports. Further, operating costs are low because students do their own data entry.
FastWEB is run by Student Services, Inc., of Chicago, which has maintained a commercial scholarship database for nine years, the report said.
Also, check out, The Financial Aid Information Page FinAid
Available Financial Aid (Condensed from Allegany College of Maryland Financial & Merit Scholarships Available for 1996-97: Information and Application)
Allegany College of Maryland participates in most federal programs. Residents of Maryland are also eligible to receive state scholarships and loans. Last year Allegany College of Maryland disbursed for than $5,000,000 in funds from local, state, and federal programs. The amount of financial aid awarded is generally a combination of grant, loan, and employment. The amount of the award is based on financial need. Need is determined by subtracting the resources of the student and his parents' contribution from the total student dental expenses. The parents' contribution is estimated on the basis of the amount of their income and assets. A federally mandated formula called Federal Methodology is used to analyze the financial circumstances. All financial aid awards to students are determined by the Director of Financial Aid.
Procedures to Follow When Applying for Financial Aid
Students should apply for financial aid by March 15. Students currently living with their parents or guardians and who are claimed as dependents for the previous calendar year should also submit the Free Application for Federal Student Aid. This application may be obtained from the high school guidance counselor or the Office of Financial Aid.
Completely self-supporting students should also complete the Free Application for Federal Student Aid by March 15 if they plan to attend in the fall semester. Students planning to attend Allegany College of Maryland for the spring semester should apply for financial aid by November 15. A letter explaining the award and information about the aid offered is sent to each applicant.
A student must reapply for financial aid each academic year. However, aid usually continues at the same level each year, unless a student's resources or his/her parents' expected contribution changes.
Loans
The Marilyn Thomas Memorial Fund
This short-term, interest free loan program is sponsored by the Allegany College of Maryland Student American Dental Hygienists' Association and is limited to those students in the Dental Hygiene Curriculum desiring a loan for tuition, fees, books, or supplies. Loans are to be repaid within ninety days unless extenuating circumstances exist.
Federal Family Education Loan Programs (FFELP)
The federal government in cooperation with local banking interests and Allegany College of Maryland , provides loans to students carrying at least 6 hours of credit courses. The federal government will pay the interest while the student remains in college and can show a financial need. Repayment of the loan begins six months after the student's education has been completed.
Student Assistance
The Student Council sponsors a short-term, interest-free loan program administered through the Financial Aid Office. The maximum amount that may be borrowed is $100.00 per semester.
Scholarships
Scholarship catalogs are available in the fall of each year for the following academic year. Information regarding scholarship deadlines and application procedures are included in the scholarship catalog.
Tuition Assistance Awards
Student Tuition Assistance Program
The Allegany College of Maryland Foundations has funds available to assist students with their tuition. The Foundation will award up to half of the tuition cost for a student, depending on the amount of annual contributions from Student Sponsors and the number of qualified applicants.
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