Scholarship Search Secrets

Some scholarship search tips and hints.
Tip #1: This is a numbers game!
Numbers matter in the grand scholarship game. The more awards you apply for, the more awards you are likely to receive. As in sales, it’s a question of ratios. Ultimately, the goal is scholarships awarded, so for every scholarship you are awarded, you have to apply for 10. For every scholarship you apply for, you’ll need to find 10 you qualify for, or 100 eligible scholarships. For every eligible scholarships, there needs to be at least 10 prospects, or 1,000 awards. Happily, at last count there are approximately 2.4 million scholarships available, worth approximately $14 billion in aid.
The bottom line: to get more, apply for more.
Tip #2: Small = Big
Small = big. A seemingly contradictory statement, but a true one. If you are awarded 10 scholarships for $1,000 or one scholarship for $10,000, the net effect is the same - you don’t pay that money out of pocket or in loans. Every scholarship for which you are eligible is worth applying for, because a bunch of small scholarships will add up to a big one.
Tip #3: A portfolio is a time-saver.
We’ll get to the construction of your scholarship portfolio in the next issue, but it’s important to know what one is and why to build one. Each scholarship application asks for information about you. Questionnaires, essays, quizzes, and forms all want information about you, the prospective award winner. Rather than re-invent the wheel all the time, develop a portfolio of materials that you can draw on, time and time again. As you write essays for scholarships, fine tune them so that the essay which was rejected out of hand for award #1 is a first place winner by the time you get to award #6. Have friends and family review your portfolio and offer insight and advice. If you don’t know anyone who is a strong writer, check with your school or English teacher. Which brings us to the next point...
\nTip #4: The Devil is in the Details\nWhat’s the number one killer of scholarship applications? If you guessed \nsimple, preventable mistakes, you’d be right. Attention to detail is vital for \nscholarship applications, from when to meet deadlines to the format in which you \nsubmit your application. This is a great time to invest in a notebook or day \nplanner, whether it’s on a computer or it’s a paper one. If you want to win, you \nhave to get organized from the very beginning and stay organized!\nTip #5: Scholarship Search is a year round sport.\nScholarship deadlines are scattered throughout the year, and as such \nscholarship searches should be performed throughout the year. As you’ll see \nlater on in this guide, there are ways to automate part of the process of \nscholarship search so that you can have agents working on your behalf - for free \n- 24 hours a day, 7 days a week. Be sure to set aside time each day - even if \nit’s only 5 minutes - to review new scholarship opportunities. As fishermen say, \ndon’t let the big one get away because you weren’t ready!\nTip #6: There are scholarships for everyone.\nWhile it may seem that a great many scholarships are intended for the very \ntop academic performers or the poorest students, the reality is that there are \nscholarships for everyone. For example, the Duck Tape Brand duct tape prom dress \naward for students who attend their prom wearing nothing but duct tape doesn’t \nrequire to be the valedictorian, merely someone who shows up at the prom in a \nnice duct tape outfit. While that sounds absurd, the $5,000 scholarship that \ncomes with it is deadly serious.\nTip #7: It’s never too early or too late to search!\nWhen is the best time to start searching for scholarships? Right now - and \nnever stop until you’re out of school and debt free. There are even scholarships \nwhich will help you pay off school debts, so keep searching. The best time to \nstart is always right now, even if you’re halfway through your last year. \nObviously, the earlier you start, the better, but better late in the game than \nnot playing.",1]
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Tip #4: The Devil is in the Details
What’s the number one killer of scholarship applications? If you guessed simple, preventable mistakes, you’d be right. Attention to detail is vital for scholarship applications, from when to meet deadlines to the format in which you submit your application. This is a great time to invest in a notebook or day planner, whether it’s on a computer or it’s a paper one. If you want to win, you have to get organized from the very beginning and stay organized!
Tip #5: Scholarship Search is a year round sport.
Scholarship deadlines are scattered throughout the year, and as such scholarship searches should be performed throughout the year. As you’ll see later on in this guide, there are ways to automate part of the process of scholarship search so that you can have agents working on your behalf - for free - 24 hours a day, 7 days a week. Be sure to set aside time each day - even if it’s only 5 minutes - to review new scholarship opportunities. As fishermen say, don’t let the big one get away because you weren’t ready!
Tip #6: There are scholarships for everyone.
While it may seem that a great many scholarships are intended for the very top academic performers or the poorest students, the reality is that there are scholarships for everyone. For example, the Duck Tape Brand duct tape prom dress award for students who attend their prom wearing nothing but duct tape doesn’t require to be the valedictorian, merely someone who shows up at the prom in a nice duct tape outfit. While that sounds absurd, the $5,000 scholarship that comes with it is deadly serious.
Tip #7: It’s never too early or too late to search!
When is the best time to start searching for scholarships? Right now - and never stop until you’re out of school and debt free. There are even scholarships which will help you pay off school debts, so keep searching. The best time to start is always right now, even if you’re halfway through your last year. Obviously, the earlier you start, the better, but better late in the game than not playing.
\nScholarship \nSearch Secret - Who are you? # \n1\n"Who are you?" is a fundamental question not only of life, but of scholarship \nsearches. You see, scholarships are essentially gifts to students from \nindividuals or groups who want to help a certain group of people achieve their \nhigher education goals. The sponsors of scholarships very often choose criteria \nwhich mirror either their own characteristics or the characteristics of the \nperson they wished to be. As such, it\'s vitally important that you determine who \nyou are in great detail - that detail will be essential to finding scholarships \nspecifically tailored to your background.\nWhat\'s special about scholarships tailored to your background? In addition to \nmaking connections with individuals or groups that are like you, the more \nspecific your scholarship search is, the better your chances are of being \nawarded a scholarship, because you will face less competition. Everyone and \ntheir cousin can apply for a Pell Grant, for example, but a significantly \nsmaller part of the population can apply for a Pennsylvania Resident Left Handed \nMennonite Scholar\'s Award.\nSo what should you know about yourself? Here are some key questions, \nquestions that will help you to find scholarships. Make note of them on a \nseparate sheet of paper or in a separate document on your computer. A word of \ncaution: you may be tempted to skip this step or gloss over it. Don\'t. The work \nyou do now will pay off later, and if you skip this step or the details in this \nstep, it will definitely hurt you in your search later!\nQuestion 1: What have you done so far in life?\nMake lists of different things you\'ve done, different hobbies, sports, \nactivities, events you\'ve attended, places you\'ve been or lived, grades and \nawards achieved in school so far. All of these seemingly trivial details will \ncome in handy during your search, so be thorough. Even things that seem \ninconsequential, like a club you belonged to when you were very young such as \nthe Boy Scouts or Girl Scouts is important.",1]
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Scholarship Search Secret - Who are you? # 1
"Who are you?" is a fundamental question not only of life, but of scholarship searches. You see, scholarships are essentially gifts to students from individuals or groups who want to help a certain group of people achieve their higher education goals. The sponsors of scholarships very often choose criteria which mirror either their own characteristics or the characteristics of the person they wished to be. As such, it's vitally important that you determine who you are in great detail - that detail will be essential to finding scholarships specifically tailored to your background.
What's special about scholarships tailored to your background? In addition to making connections with individuals or groups that are like you, the more specific your scholarship search is, the better your chances are of being awarded a scholarship, because you will face less competition. Everyone and their cousin can apply for a Pell Grant, for example, but a significantly smaller part of the population can apply for a Pennsylvania Resident Left Handed Mennonite Scholar's Award.
So what should you know about yourself? Here are some key questions, questions that will help you to find scholarships. Make note of them on a separate sheet of paper or in a separate document on your computer. A word of caution: you may be tempted to skip this step or gloss over it. Don't. The work you do now will pay off later, and if you skip this step or the details in this step, it will definitely hurt you in your search later!
Question 1: What have you done so far in life?
Make lists of different things you've done, different hobbies, sports, activities, events you've attended, places you've been or lived, grades and awards achieved in school so far. All of these seemingly trivial details will come in handy during your search, so be thorough. Even things that seem inconsequential, like a club you belonged to when you were very young such as the Boy Scouts or Girl Scouts is important.
\nQuestion 2: Who do you know in life?\nAgain, make lists of people you know, famous or not, as well as companies you \nor your family do business with, groups or organizations of which you are a \nmember, friends, family members, service providers, even silly things like who \nyour doctor or dentist is. Don\'t leave out organizations that you may not be a \npart of, but your immediate family is, especially your parents. Everything is in \nthe details.\nQuestion 3: Where are you going?\nIn life, in school, in all things. If you have strong feelings about the \ndirection of your life, your education, and your future, make note of them. Is \nthere a career or a selection of careers that you are interested in? Is there a \nhobby you love so much that you would love to make a career out of? Is there a \nschool you\'ve visited in your travels that really resonated with you, that felt \nalmost like a long lost home? Make notes on these items. \nMake a list of things that drive you, that motivate you, things that keep you \nawake at night. What\'s always on your mind? What do you have dreams about? \nEnding poverty? Fighting injustice? As always, make a list.\nQuestion 4: What\'s so interesting?\nThis will probably be the hardest question to answer, and also the most \nrewarding, at least scholarship-wise. Name five things about you that, as far as \nyou know, are unique to you and only you. If you have trouble with this, get \ntogether with some close friends and ask them.\nQuestion 5: May I see your papers?\nThis is where things get organized - take all of these lists and combine them \nwith all the papers and tidbits you\'ve gathered so far - report cards, \ncertificates, business cards, etc. Do you have a comprehensive picture of your \nlife so far? Organize what you\'ve gathered into a few major categories - the \nfive A\'s: academics, activities, athletics, achievements, and associations.",1]
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Question 2: Who do you know in life?
Again, make lists of people you know, famous or not, as well as companies you or your family do business with, groups or organizations of which you are a member, friends, family members, service providers, even silly things like who your doctor or dentist is. Don't leave out organizations that you may not be a part of, but your immediate family is, especially your parents. Everything is in the details.
Question 3: Where are you going?
In life, in school, in all things. If you have strong feelings about the direction of your life, your education, and your future, make note of them. Is there a career or a selection of careers that you are interested in? Is there a hobby you love so much that you would love to make a career out of? Is there a school you've visited in your travels that really resonated with you, that felt almost like a long lost home? Make notes on these items.
Make a list of things that drive you, that motivate you, things that keep you awake at night. What's always on your mind? What do you have dreams about? Ending poverty? Fighting injustice? As always, make a list.
Question 4: What's so interesting?
This will probably be the hardest question to answer, and also the most rewarding, at least scholarship-wise. Name five things about you that, as far as you know, are unique to you and only you. If you have trouble with this, get together with some close friends and ask them.
Question 5: May I see your papers?
This is where things get organized - take all of these lists and combine them with all the papers and tidbits you've gathered so far - report cards, certificates, business cards, etc. Do you have a comprehensive picture of your life so far? Organize what you've gathered into a few major categories - the five A's: academics, activities, athletics, achievements, and associations.
By now you should have a personality and history profile of yourself that is \nastonishingly, and perhaps even alarmingly, complete. You know who you are to a \ngreat degree, and you know in general what you are thinking about doing with \nyour life, and why. If you haven\'t completed these lists, stop. Put down the \nrest of this guide. Put away all other distractions and go do these lists!\nScholarship Search Secret - Meet Your New Best \nFriend # 2\nYes, Google is your friend. Obviously, you can use other search engines for \nscholarship search, and you should, but for the purposes of this guide, we\'re \ngoing Google all the way. Start at... well, where else but www.Google.com.\nNow, as a lesson, let\'s just type in scholarships, click Search, and see what \nwe get.\nThat\'s somewhat less than helpful. What\'s wrong here is the inverse pyramid \napproach, which is not the right kind of search we want to be doing. Inverse \npyramid is simply this: starting broad and narrowing down. The problem is that \nthe number of results from a super broad search make it nearly useless, plus \nit\'s "contaminated" with a bunch of commercial services that obscure what you\'re \nafter - actual scholarships.\nSo, let\'s try something to at least filter out the commercial searches for \nnow. Type scholarships foundation and click search.\nSomewhat better, but that\'s still a lot of results to sift through.\nSo, what\'s next? Simple. Get out your lists of things about you. Let\'s say, \nfor sake of example, that you\'re a prospective student at Boston University, \nyou\'ve been involved with Shotokan karate since you were 8 years old, and you \nwant to look into a career in criminal justice. Let\'s take one of these terms \nand plug it in, like Boston University scholarships.\nGet out another sheet of paper or start another document on your computer. \nWe\'re now going to construct a list of questions (queries) to try in Google. \nWhat\'s going to be important here is to start searching for scholarships based \non relevance to you. For example, based on the information we provided above, a \nreasonable search is (as shown) Boston University scholarships. We could also \nuse shotokan karate scholarships and criminal justice scholarships.",1]
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By now you should have a personality and history profile of yourself that is astonishingly, and perhaps even alarmingly, complete. You know who you are to a great degree, and you know in general what you are thinking about doing with your life, and why. If you haven't completed these lists, stop. Put down the rest of this guide. Put away all other distractions and go do these lists!
Scholarship Search Secret - Meet Your New Best Friend # 2
Yes, Google is your friend. Obviously, you can use other search engines for scholarship search, and you should, but for the purposes of this guide, we're going Google all the way. Start at... well, where else but www.Google.com.
Now, as a lesson, let's just type in scholarships, click Search, and see what we get.
That's somewhat less than helpful. What's wrong here is the inverse pyramid approach, which is not the right kind of search we want to be doing. Inverse pyramid is simply this: starting broad and narrowing down. The problem is that the number of results from a super broad search make it nearly useless, plus it's "contaminated" with a bunch of commercial services that obscure what you're after - actual scholarships.
So, let's try something to at least filter out the commercial searches for now. Type scholarships foundation and click search.
Somewhat better, but that's still a lot of results to sift through.
So, what's next? Simple. Get out your lists of things about you. Let's say, for sake of example, that you're a prospective student at Boston University, you've been involved with Shotokan karate since you were 8 years old, and you want to look into a career in criminal justice. Let's take one of these terms and plug it in, like Boston University scholarships.
Get out another sheet of paper or start another document on your computer. We're now going to construct a list of questions (queries) to try in Google. What's going to be important here is to start searching for scholarships based on relevance to you. For example, based on the information we provided above, a reasonable search is (as shown) Boston University scholarships. We could also use shotokan karate scholarships and criminal justice scholarships.
\nIn the words of a famous TV chef, now we\'re cooking. You can see that just by \nstarting a little more specifically, we already get better results.\nScholarship Search Secret #3: Start narrow!\nGet out another sheet of paper or start another document on your computer. \nWe\'re now going to construct a list of questions (queries) to try in Google. \nWhat\'s going to be important here is to start searching for scholarships based \non relevance to you. For example, based on the information we provided above, a \nreasonable search is (as shown) Boston University scholarships. We could also \nuse shotokan karate scholarships and criminal justice scholarships.\nNow, that would give you a heck of a beginning for a scholarship search. \nLet\'s, as the TV chef says, kick it up a notch, shall we?\nScholarship Search Secret #4: Magic Words\nThere are good words, bad words, and then there are magic words. What are \nmagic words? Simply put, magic words are the words you swap in and out of \nqueries to get different results. In our case, they\'re synonyms for \nscholarships, and once you\'ve got a list of search queries based on who you are \nand what you want to do, you can substitute these words in for potentially \ndifferent results. What are the magic words? Here we go.\nScholarship, scholarships (yes, they are different, singular and plural - you \nshould assume from here on that any term which appears in singular should also \nbe tried plural, and vice versa), gifts, grants, award, financial aid, \nendowment, prize, foundation, fellowship, honorarium, bequest, aid, tuition, \ntrust, and stipend. Not all of these will yield results, but they\'re worth a \ntry.\nFor example:\nBoston University criminal justice scholarship Boston University criminal \njustice fellowship Boston University criminal justice grant\nScholarship Search Secret #5: Red Alert\nWe will assume from the previous step that you\'ve now got a list, a solid \nlist, of about 25 - 30 scholarship queries which return results that are \nrelevant to your personal details. Maybe by this point you\'ve even started to \napply for some of the awards you\'ve found. Something important to remember, \nthough: scholarship search is a year-round sport. You can\'t afford to take time \noff from your search if you want to maximize your chances of financial aid.",1]
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In the words of a famous TV chef, now we're cooking. You can see that just by starting a little more specifically, we already get better results.
Scholarship Search Secret #3: Start narrow!
Get out another sheet of paper or start another document on your computer. We're now going to construct a list of questions (queries) to try in Google. What's going to be important here is to start searching for scholarships based on relevance to you. For example, based on the information we provided above, a reasonable search is (as shown) Boston University scholarships. We could also use shotokan karate scholarships and criminal justice scholarships.
Now, that would give you a heck of a beginning for a scholarship search. Let's, as the TV chef says, kick it up a notch, shall we?
Scholarship Search Secret #4: Magic Words
There are good words, bad words, and then there are magic words. What are magic words? Simply put, magic words are the words you swap in and out of queries to get different results. In our case, they're synonyms for scholarships, and once you've got a list of search queries based on who you are and what you want to do, you can substitute these words in for potentially different results. What are the magic words? Here we go.
Scholarship, scholarships (yes, they are different, singular and plural - you should assume from here on that any term which appears in singular should also be tried plural, and vice versa), gifts, grants, award, financial aid, endowment, prize, foundation, fellowship, honorarium, bequest, aid, tuition, trust, and stipend. Not all of these will yield results, but they're worth a try.
For example:
Boston University criminal justice scholarship Boston University criminal justice fellowship Boston University criminal justice grant
Scholarship Search Secret #5: Red Alert
We will assume from the previous step that you've now got a list, a solid list, of about 25 - 30 scholarship queries which return results that are relevant to your personal details. Maybe by this point you've even started to apply for some of the awards you've found. Something important to remember, though: scholarship search is a year-round sport. You can't afford to take time off from your search if you want to maximize your chances of financial aid.
\nWhat if there were a tool that could search for you every day, every minute, \nkeeping an eye on everything, and alerting you when new scholarships based on \nyour needs became available? Wouldn\'t that be an incredibly powerful tool?\nThere is such a tool. And believe it or not, it\'s free, too. It\'s called \nGoogle Alerts, and they\'re about to become your next best friend.\nGet started by surfing over to http://www.Google.com/alertsand \nif you don\'t already have a Google account, now is the time to set one up. \nYou\'ll need a working email account that can receive mail, and if you have spam \nfilters set up, you\'ll want to allow all mail from alerts@google.com to get \nthrough.\nOnce you\'ve logged into your new Google account, you\'ll want to get your list \nof searches from the previous steps handy. Start entering them into the \ninterface, adding an alert for each search. One thing that\'s important here with \nalerts is that Google alerts scan through both news and the Web, so you\'ll want \nto make sure you select both. You\'ll probably also want alert messages once a \nday, rather than as they happen, or you will have a very full mailbox.\nGoogle Alerts will surf the Web and news for you, and bring to your attention \nany new scholarships or awards that fit your criteria. This is an incredibly \npowerful tool in your quest for financial aid, so take the time to enter all \nyour queries - even the ones that didn\'t generate good results in the previous \nsteps.\n \n \n\n\n\n\n\nThank you for contacting Admission Source.If you want to have one on one interaction with Mr. N.B.Singh with his undivided attention and to keep your correspondence confidential than please hire our consultancy ",1]
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What if there were a tool that could search for you every day, every minute, keeping an eye on everything, and alerting you when new scholarships based on your needs became available? Wouldn't that be an incredibly powerful tool?
There is such a tool. And believe it or not, it's free, too. It's called Google Alerts, and they're about to become your next best friend.
Get started by surfing over to http://www.Google.com/alertsand if you don't already have a Google account, now is the time to set one up. You'll need a working email account that can receive mail, and if you have spam filters set up, you'll want to allow all mail from alerts@google.com to get through.
Once you've logged into your new Google account, you'll want to get your list of searches from the previous steps handy. Start entering them into the interface, adding an alert for each search. One thing that's important here with alerts is that Google alerts scan through both news and the Web, so you'll want to make sure you select both. You'll probably also want alert messages once a day, rather than as they happen, or you will have a very full mailbox.
Google Alerts will surf the Web and news for you, and bring to your attention any new scholarships or awards that fit your criteria. This is an incredibly powerful tool in your quest for financial aid, so take the time to enter all your queries - even the ones that didn't generate good results in the previous steps.

Colleges see fewer foreign students

Experts blame visa hassles, competition; some fear effects on science, engineering
By Matt Krupnick
January 29, 2006
WALNUT CREEK, Calif. -- It used to be that the choice between a U.S. or foreign university was a no-brainer for top international students. If they gained admission to Harvard or Berkeley, their choice was made.
But the combined effects of the 9/11 attacks and other countries' higher-education improvements have concerned U.S. educators, who fear a drop in foreign student enrollment would threaten college engineering and science departments.
"Universities could not, in some cases, conduct research or teach classes without their very talented foreign students," said Peggy Blumenthal, executive vice president of the Institute of International Education, which tracks statistics on international students.
In the mid-1950s, according to the institute, U.S. universities were attracting more than 30,000 international students per year. Last year, more than 500,000 attended U.S. institutions, generating about $13 billion in tuition.
But last year, colleges and universities also reported the lowest international undergraduate enrollment since 1999, while graduate enrollment dropped to its lowest level since 2000.
Education experts say increased visa hassles and other U.S. policies have sent the wrong message to the world's students.
"There's just a whole bunch of things that make people say, 'Wait a minute, I don't have to go through any of this to study anywhere else,' " said Victor Johnson, who directs public policy for the Association of International Educators in Washington, D.C.
"It's simply an undeniable fact that the United States isn't a popular place in the world, and that does affect people's propensity to study here."
\nUniversities also are facing another challenge: \ncompetition.\nChina is expected to award more doctorate degrees than the \nUnited States in five or 10 years, and India is also producing more doctorates \nthan ever before. Australia and Europe have also beefed up their \nhigher-education systems.\nBut some say they don\'t see why educators are so concerned. \nIt\'s logical for universities to have to compete for students, they say, and \nU.S. institutions already have an edge over the rest of the world.\nIn India, for example, the top universities simply don\'t \nhave room for all the Indian students, said B.S. Prakash, India\'s consul general \nin San Francisco.\nExporting students to the United States is good for both \ncountries, since many graduates return home to improve India\'s economy, he \nsaid.\n"In the big picture, India believes in globalization," \nPrakash said. "We don\'t look at these things as win-loss."\n\n\n\n\n\n\n\n\n\n \n\n\n\n\n\nThank you for contacting Admission Source.If you want to have one on one interaction with Mr. N.B.Singh with his undivided attention and to keep your correspondence confidential than please hire our consultancy services.Details can be mailed to you. \nWE GUARANTEE YOU ADMISSION. VISA HELP WILL BE RENDERED.\nWe have a record of 100% success rate in the past.\nContact admit2003 at rediffmail.com\nGood Luck\nAdmission Source Group,Suite 112,SCO 139-141,Sector 17C,Chandigarh. India. \nTel. 172-2711821,2702640\n\nThe use of this group is subject to the terms mentioned in the groups disclaimer sent to you on joining.It can also be read in the files section.\n\n\n\n\n\n\n\n\n \n\n\n \n ",1]
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Universities also are facing another challenge: competition.
China is expected to award more doctorate degrees than the United States in five or 10 years, and India is also producing more doctorates than ever before. Australia and Europe have also beefed up their higher-education systems.
But some say they don't see why educators are so concerned. It's logical for universities to have to compete for students, they say, and U.S. institutions already have an edge over the rest of the world.
In India, for example, the top universities simply don't have room for all the Indian students, said B.S. Prakash, India's consul general in San Francisco.
Exporting students to the United States is good for both countries, since many graduates return home to improve India's economy, he said.
"In the big picture, India believes in globalization," Prakash said. "We don't look at these things as win-loss."

MBAs to revolutionize medicare field

MBAs to revolutionize medicare field

"The medical profession is changing rapidly and very soon an MBA would be
needed to understand marketing strategies, financial impacts, succession
plans in group practice and so on. An MBA will be needed to make your work
more efficient and cost effective. Many corporate companies are now coming
to India with plans to start hospitals and they want professional hospital
managers and administrators with quality assurance. With this viewpoint, an
MBA is a great asset.

However, in regular practice it does not add any value whatsoever. I
personally may consider an MBA because we encounter many insurance companies
and insurance-related matters and an MBA will help in effectively dealing
with such matters," says Dr Vijay Z Belani, a senior doctor in Mumbai. An
MBA is no longer viewed as just a passport to a lucrative job, it is now a
necessity to move into any senior-level management position. And the MBA bug
has bitten professionals as diverse as doctors, lawyers and teachers.

Universities such as the University of Tennessee offer a Physician's
Executive MBA program. This program requires only four one-week sessions at
the university campus. The rest of the program can be done online. The
program costs $48,000. Traditional MBA programs at universities such as
Harvard cost about $100,000. "In the changing health care environment,
participants increasingly fall into two roles: leaders and spectators.

Physicians who want to be leaders clearly understand that business knowledge
is power," states the university website. "This is an expensive MBA program
and one would have to consider whether this degree adds value to one's
profile," warns Dr Belani. "I received my MBA from the University of
Tennessee Physician Executive MBA Program in 1998, after spending over five
years as a technology senior executive.

Because I knew what I wanted to achieve from the program, it turned out to
be a great experience. Beyond the MBA, I have continued to develop my
business and management skills through the executive coach training that I'
ve completed. If you're serious about success, the learning never stops,"
states Francine Gaillour, MD, MBA, FACPE in Physician's Practice Journal.

People are becoming more and more aware of insurance and medical costs. Many
doctors are losing out on patients because of unpaid insurance claims and
insurance exclusions. An MBA would benefit a doctor by addressing cost
effective medical solutions.

On the downside many recruiters do not look favorably at the MBBS-MBA
combination. The reasons are obvious: doctors usually do not have any prior
business experience. The doctor will most likely have seniority and hence
will not accept a low-paying job or low position in an organization.
Therefore, if you are looking for a career switch and do not want to work in
the healthcare industry, you may have a tough time finding a job in the
ruthless business world.

Additionally, if you plan to continue clinical practice, you do not need to
opt for an MBA. "We do not advocate that all physicians pursue MBAs. Those
physicians who are primarily interested in strictly a clinical role, who are
interested only in seeing patients - we don't see that it's necessary for
them to get MBAs," states the University of Tennessee.

When choosing an MBA program, make sure that the program has electives that
cater specifically to the medicine world. Classes such as decision-making
for physicians, economics of healthcare, disease management, business law
and ethics for physicians, marketing for physicians are some of the classes
that your MBA program should address. You can choose a traditional two-year
MBA program or a quick one-year MBA.

For the computer-savvy doctor, an online program would ensure that you study
at your own convenience and do not lose your earnings while pursuing an
MBA.If you are a doctor with many years of work experience and are looking
to set up your own practice or better manage your existing practice consider
an MBA degree. An MBA is an expensive qualification and only look at the MBA
if you are sure that this degree fits into your career plans. Remember, you
may be very good in the operating theatre but how good are your business and
cost management plans?

Financing an MBA Abroad: A How-To Guide

Researching financial-aid info for foreign B-schools poses unique challenges. Here are some tips to speed your path to the moneySo you're thinking of going abroad to get your MBA. You'd like to broaden your horizons and experience a truly multicultural graduate program. These are all noble pursuits. But remember, financing a graduate degree from an institution outside your native country can pose certain challenges. Realistically, these challenges are nothing next to the rigors of business school, so you should just think of this particular endeavor as a prelude. You'll have to do a whole lot of research, calculate going conversion rates, and be as proactive as possible. In short, it's nothing a business-savvy applicant can't handle with a good calculator and Internet access. PORT OF CALL. Indeed, many international institutions use their Web sites as the first "port of call" for prospective students. This is undoubtedly true for the admissions process, but it's important to keep in mind for financial aid opportunities as well. Procedures, availability, and types of funding for foreign students at most B-schools vary tremendously. Foreign students usually are not eligible to receive most government loans and can have a hard time with private lenders unless they have a resident guarantor or co-signer. Canadian B-schools, though cheap by comparison to those in the U.S. and Europe, have limited loan programs and funds to disperse to non-Canadians. Thus it's necessary to look beyond the norm when securing funding at a school away from home. In most cases, the financial-aid process begins after you've been accepted. But you should start your research (and when possible, fill out forms) as soon as you decide to apply. Some of the larger, well-established programs have more funding available, or at least more programs in place, to help students finance their MBAs. GLOBAL LOAN PROGRAM. One truly international institution, INSEAD, was founded in 1959 in Fountainebleau, France, and just last year opened a campus in Singapore. Its roughly 700 students represent more than 60 countries and are free to study in either France or Singapore under the institute's "one school, two campuses" philosophy. Once accepted, students are invited to apply for financing through the INSEAD/ABN Amro Global Loan Program, designed to give candidates from all over the globe access to an INSEAD business degree. The loan scheme -- available to every applicant, regardless of nationality -- is offered in association with ABN Amro Bank and covers all tuition fees (27,900 Euros for the 2000 program, or about $29,850). It does not require a security or guarantee from the student, and it offers a low, fixed interest rate. There are, however, a few things to consider. INSEAD's loan doesn't cover living or personal expenses, yet applicants are required to provide a certified copy of an INSEAD acceptance letter, a separate loan application, two letters of recommendation, a copy of a resume, as well as a passport. Loan applicants then have to interview personally at one of ABN Amro's branches. Students still have to have a solid financial history (start paying down that consumer debt now!), as the final disbursement of loans rests solely with ABN Amro. Keep in mind that funding is not always a done deal at any B-school with inviting, all-inclusive loan programs. The buck stops at the bank. SMALL PRICE TO PAY. London Business School has inked a similar loan agreement with HSBC Bank, one of the largest banking and financial organizations in the world. This loan, is open to all students of all nationalities, provides funding to cover the cost of tuition (18,000 British pounds for the 2001 academic year, or about $27,000) as well as the cost of living, a considerable benefit in fashionable, pricey London. There are very few restrictions to this program. However, it does require that students maintain their principal bank account with HSBC Bank for the duration of the loan. (A small price to pay, considering that some lenders stipulate that borrowers must repay a loan in full if they don't take a job back home immediately following graduation.) It's likely that HSBC hopes to retain the business of MBAs who will potentially be "high net worth" individuals and quality customers when they return to their native countries -- where, chances are, there will be a local HSBC branch. FOREIGN-FRIENDLY FINANCING. Lest you assume that all business schools have such foreign-friendly financing arrangements, consider Oxford's Said School of Business. The school lacks a financial aid office. To be fair, the program is smaller (96, compared to INSEAD'S nearly 700 and LBS's 536 full-time students) and only in its fifth year of operation, but the school openly adopts a laissez-faire attitude toward financial assistance. As Louise Hutchinson, Said's marketing manager, explains, "A lot is up to [the student], to be honest, to try to identify appropriate scholarships in their home country." If you're not one of those candidates researching grants on the home front, there's a good chance you're a part of the 67% majority who is able to foot the £18,500 ($27,750) bill for the 2001 program without assistance. That said, Said's Web site offers a wealth of information about funding and is a great jumping-off point for researching scholarships. During any search, beware of specific requirements like "commitment to working in Poland" or "essay-fluent in Arabic" that might disqualify you as an applicant. It could save a lot of aggravation later. WORLDLY CONSTITUENCY. A school with a decidedly unique approach to funding is the International Institute for Management Development, or IMD, in Lausanne, Switzerland. With tuition for the one-year program coming to 45,000 Swiss francs (about $30,000) in 2001, and the total budget estimated at twice that, IMD is no bargain. The price tag could explain why the average age of an IMD student is 31 and the school, in Switzerland's beautiful Lake Geneva region, attracts an affluent, worldly constituency (75% have worked outside of their own countries prior to matriculation). Still, of the 85 students enrolled, 25% to 30% require some kind of financial assistance. The school -- a tightly knit community where even the director of the MBA program knows everyone's name -- has a kitty of about $1.5 million that is allocated for scholarships and loans. These funds are administered by an alumni board made up of one delegate from every graduating class. This classmate/financier system has worked exceptionally well for IMD: they've yet to have a single student default on a loan. REWARDING SCHOLARSHIP. At the end of the year, there are prizes for excellence and class contribution. Sometimes they even "turn loans into scholarships." A lot of schools will bestow scholarships based on achievement during the previous year. It's worth inquiring about such awards during your search. A good place to begin your research is the International Education Financial Aid Web site. IEFA has a searchable database of scholarships for study in the U.S. and abroad and is an invaluable resource for international grant-seekers. As far as loans go, the International Education Finance Corp. has developed a number of loans for students through their International Student Loan Program. The program provides financing for the total cost of education, flexible repayment options, and up to a 25-year repayment period. All MBA candidates are eligible, but students from outside the U.S. must have a U.S. citizen or permanent resident as a cosigner. The site also offers a variety of information -- books, informational organizations, links to relevant Web sites -- on their resources page. Lucia Quartararo

Actuaries: The Best Kept Secret in Business

Actuaries: The Best Kept Secret in Business

by Charles L. Gilbert, FSA, FCIA, CFA

One of the more common reactions heard after an actuary introduces themselves is “What’s an actuary?” Actuaries have been practicing their profession and existing largely undetected by the general public for more than a century. So when someone meets a live actuary for the first time, the question is not entirely unexpected. Historically, the actuarial profession has not done a good job of marketing itself, even in areas where actuaries have substantial expertise. That’s a shame because actuaries have much to contribute to any field that deals with risk. This is particularly true of the world of finance.

Actuaries are professionals who have been rigorously tested and trained in the pricing, valuation, analysis and management of risk. Actuarial exams have been described as the most difficult professional exams in the world. No other profession demands as rigorous a qualification process. Pass percentages are kept low to ensure that the highest standards for entry into the profession are maintained. In North America, actuaries will spend up to 10 years or more after university studying risk-related topics founded on probability and statistics, financial economics and life contingencies to gain the coveted “Fellowship” designation. But as if the exams were not enough, prospective entrants into the profession must pass a Fellowship Admission Course and fulfill Professional Development qualifications. Once successfully completed, fully qualified actuaries or “Fellows” must fulfill ongoing Continuing Professional Development and Education requirements. The majority of actuaries have traditionally specialized in insurance or pensions and many people who think of actuaries tend to associate actuaries with the insurance or pension industries. While that is certainly true, many actuaries focus their skills on finance, investments and risk practice. In fact, fully qualified actuaries who have successfully completed all of the exams in the Investment, Finance or Enterprise Risk Management (ERM) tracks have covered most of the material required to become a Chartered Financial Analyst (CFA), Financial Risk Manager (FRM) and Professional Risk Manager (PRM) and have been tested at a far more rigorous and higher cognitive skill level. In fact, many actuaries decide to write these exams to obtain these other designations since they have already mastered most of the syllabi.

The majority of actuaries find themselves working for financial institutions, mainly insurance companies and pension funds but a growing number are working for commercial and investment banks. That is no coincidence. Financial institutions (along with many corporations) are in the business of assuming risk provided they are fairly compensated for taking those risks. Actuaries typically understand the risks and the rewards better than any other professional. They are uniquely qualified to help companies make more effective risk decisions. Bred with strong quantitative backgrounds – most actuaries are mathematicians turned risk professionals – actuaries find themselves in their element when faced with complex financial risk problems. These are some of the reasons actuaries are being sought by rating agencies and regulators looking to beef up their risk assessment capabilities. Actuaries are also being tapped for Chief Risk Officer (CRO) positions. In Canada, the CRO of every major life insurance company is an actuary.

Actuaries have made valuable contributions to financial economic theory and risk practice. Sophisticated techniques and approaches have been developed that greatly improve how risks are quantified and enhance financial decision making. Actuaries such as Frederick Macaulay, Frank Redington and Robert Reitano introduced the financial world to duration, immunization theory and partial duration; Harry Panjer published definitive references on financial economics and loss models; James Tilley, David Wilkie and Mary Hardy – among many others – have made great advances in the stochastic modeling of risk. Several actuaries along with the Society of Actuaries and the Casualty Actuarial Society have been pioneers in the emerging field of Enterprise Risk Management (ERM). Actuaries have been at the forefront of risk practice, solving sophisticated valuation problems involving dynamic hedging of complex embedded options where no close form or analytic solution exists.

Risk practice encompasses more than risk mitigation or risk management. Risk practice also involves selecting and taking risk. The key is making sure the organization is fairly compensated for taking those risks and is comfortable with the amount of risk exposure assumed.

By determining which risks provide an attractive risk/return profile and identifying which risks should be avoided or hedged, actuaries can help companies exploit risk opportunities. One area in particular where actuaries have been at the forefront is in helping companies implement Asset Liability Management (ALM) to gain competitive advantage. While many financial institutions have been effective at implementing ALM at a tactical level, the focus has tended to be on risk mitigation. The Society of Actuaries Task Force on ALM Principles provides the following definition of modern ALM:

“ALM is the on-going process of formulating, implementing, monitoring and revising strategies related to assets and liabilities to achieve the financial objectives for a given set of risk tolerances and constraints.”

When using ALM as a strategic decision-making tool, the goal of ALM is not necessarily to eliminate or even minimize risk. ALM is viewed as a framework to achieve the financial objectives of the organization subject to its risk tolerances and constraints. Within this framework innovative strategies are formulated for optimizing financial results. One such strategy is to exploit the term structure of interest rates by rebalancing the asset portfolio backing liabilities in such a way that reduces the interest rate risk exposure of the company and increases portfolio yield, future investment income, and achieves the company’s financial objectives. The key to formulating and executing effective strategies is to have an in-depth understanding of both the assets and liabilities and how they interrelate. Trying to specify objectives for each side of the balance sheet separately will not necessarily ensure that the overall financial objectives are achieved.

To see this more clearly, let’s say you wanted to maximize risk adjusted return on capital. Under the traditional approach the assets and liabilities might be managed separately. The liability manager would be asked to state what the investment objectives for the liabilities were and come up with a suitable benchmark for the liabilities. The asset manager would then try to beat the liability benchmark while staying within some specified risk limit. Typically, in order to give the asset manager the maximum flexibility, the risk limits are kept relatively simple and might be stated in terms of a Macaulay or Modified Duration target. However, beating the benchmark within the specified duration target and/or maximizing portfolio yield may not necessarily ensure that risk adjusted return on capital will be maximized. That will depend on the actual interest rate risk exposure, the impact on reserves, capital and accounting treatment. This is where a risk professional who understands both sides of the balance sheet can help. By formulating Asset Liability Management strategies to achieve the financial objectives subject to risk tolerances and constraints, this can be set up as an optimization problem. A strategy can then be executed that will select the best risk/reward profile for the company. Actuaries are uniquely positioned to formulate such strategies and determine the impact on reserves, accounting results and capital requirements, then decide whether the organization is being fairly compensated for the risks assumed and whether the strategy achieves the organization’s overall financial objectives. Under the traditional approach, the asset manager would typically execute the trades and find out the impact on the overall financial objectives after the fact.

There are many practicing actuaries with investment experience who understand both the assets and liabilities. By working closely with an asset manager, an actuary can provide valuable insights into whether the strategies being contemplated achieve the financial objectives or whether they are optimal from a risk/reward perspective.

Regulators, rating agencies and analysts have discovered the value that actuaries can add to finance and risk management and engage these risk professionals on staff. Actuaries have trained regulators, rating agency and investment analysts on asset liability management and have worked together with them to establish approaches for determining appropriate levels of capital for various risk exposures, and developing more a meaningful valuation metric for investment analysts to measure insurance companies.

While actuaries are uniquely trained risk professionals with a lot to contribute to the world of finance, they may just be the best kept secret in business!

Charles L. Gilbert, FSA, FCIA, CFA, is president and founder of Nexus Generations, which provides advanced risk management solutions to the financial services industry. He is also a director of the Society of Actuaries Board of Governors and serves on numerous task forces and working groups related to risk management.

The College Application Deadlines You Need to Know

Don't miss important deadlines. Here's an ideal timeline to keep you on the right track.published by financialaid.com
There are two kinds of students. Those who begin planning for their college applications as juniors, reviewing last year's applications and contemplating essay topics to let them percolate over time. And those who start their applications at 3 a.m. the night before they are due. This is one time where even if you are a natural-born procrastinator, you need to pay attention to the important college deadlines.
The worst thing that you can do is wait until the last minute. You'll make careless errors, and you won't present your best strengths to the colleges. The best college applications are done over time, allowing you to think about your responses and formulate your answers. To develop the strongest applications, here is an ideal timeline for keeping track of when you should tackle each step:
Birth - Fall of senior year : Research and select colleges to apply to. You should begin learning about the colleges as soon as possible in high school. Visit colleges close to you even if you don't think you will apply to them, and visit colleges while you are on vacation with your family. By seeing different campuses, you will get a better idea of what you like and don't like about a school.
Spring of junior year : Take the standardized tests. Get your #2 pencil ready because you'll want to take the required standardized tests, the SAT I or ACT, at least once during the spring of your junior year. Some colleges also require the SAT II Subject Tests.
Early fall of senior year : Narrow your college choices and request applications. Continue researching schools by reading about them, contacting their admission offices to ask questions and visiting. Select five to eight colleges to apply to. Request applications either through the colleges' websites, by telephone or by letter.
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October - November : Take the standardized tests again. If you haven't already taken the SAT I or ACT, you'll need to do this in the fall. If you have taken the exams, you should try it again now that you know exactly what to expect. You also have the choice of which scores to submit to the schools so taking it twice will give you some flexibility.
Early November : Early admission deadlines. You'll need to decide if you want to apply early. You have two options: Early Action, which does not require that you attend the school if you are accepted, or Early Decision, which does require that you attend the school if accepted. If you want to apply early, the deadlines are typically in early November
Late December - early January : Regular admission deadlines. If you apply during the regular admission deadlines, you will have a couple of extra months to complete your applications. Use this time to actually work on and perfect your applications. Don't procrastinate.
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Three to six weeks before your deadlines : Recommendations. For the strongest recommendations, give your teachers and counselors as much time as possible. Just as you need to develop your applications over time, your recommenders need time to gather their thoughts about you.
December - April : Wait by the mailbox for acceptance letters. If you apply regular decision, you will start hearing back from the colleges in the spring, typically at the beginning of April. The decision may be acceptance, denial or wait list. If you are placed on the wait list, you still have a chance of being accepted if other students do not choose to attend the college.
January - March : As soon after January 1 of your senior year as possible, you'll need to complete the Free Application for Federal Student Aid (FAFSA). The only way to get financial aid is to complete the form. You'll need to supply information about your parents' and your income and assets. By spending a few hours, you may receive thousands of dollars in aid.
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April : Hold your breath for financial aid offers. Financial aid offers may include grants, work-study and loans. Don't look at the total amount of financial aid you receive. Instead, look at how much your family will need to contribute and how much you will need to borrow to figure out how much the college will actually cost to attend. Also, if you receive financial aid packages from several colleges, you may be able to negotiate with the schools. For example, you can ask one college if it can match or increase to be closer to a more generous package that you've received from another college.
May : Make your decision. You've done all the research and asked all the questions, now it's time to decide where you will spend the next four years of your life. Make last visits to your top choice colleges, and discuss with your parents which schools won't bust your family's bank.
Congratulations! You've made it through the college admission process and can look forward to four years of football games, new friends and parties, and of course, a little dose of studying as well.

How to Bullet-proof Your Essay

Produce quality essays that admissions officers will remember.published by financialaid.com
The essay is your best opportunity to impress the admission officers and let them know who you really are. Through the essay, you can show the colleges your passions, values or accomplishments that just aren't given justice in the fill-in-the-blanks of the application. While an uninspired essay won't necessarily doom your chances to getting accepted, an inspired one can propel you into the acceptance pile.
Here's how to produce a quality essay that the admission officers will remember:
Follow your passions . Choose the topic that is the most compelling to you. Don't write about what you think the colleges want you to write about. Be honest in your answers about what you really think. If you do this, the words will come more easily and your excitement will show through in your writing.
Begin your essay with fireworks . Don't begin with the obvious—your name, when you were born or what high school you go to. Instead, try dialogue, a description of a scene or a bold statement. Test some creative approaches to capturing the admission officers' attention right from the start.
Be specific . One mistake that many students make is that they are too general. Making a broad statement without supporting it with examples is not very effective. Instead, describe a specific moment, achievement or idea to make a more interesting essay.
Have a point . Before you start writing, think about what you are trying to convey in your essay. You should be able to summarize the point of your essay in a single sentence. If you can't, you may not have a point. It's important to have an underlying message that you're trying to relate through your essay.
Let the admission officers into your mind . Instead of just describing an event, let the admission officers experience the event with you. Share the thoughts that are running through your mind during the event. Explain what you are thinking and why you made the decisions that you did. This will give them real insight into who you are.
End with a bang . You want to sandwich your essay between a strong beginning and conclusion. The conclusion is the last taste that you will leave in the mouths of admission officers. Summarize your point and wrap your thoughts together with a conclusion that they'll remember.
Get help . While your essay of course must be your own work, you can improve your writing with input from other people. Ask for help and don't be afraid of a little constructive criticism. Use it to your advantage. Get feedback from at least one person about your writing.

How to Get Over Your Application Angst

Get those applications in on time.published by financialaid.com
With their seemingly endless series of blanks and spaces to "tell us about yourself" and boxes to "provide us with your social security number, date of birth and innermost thoughts" - not to mention the essays, there's a reason why many student procrastinate when it comes to filling out college applications. Ugh! Multiply this by the number of colleges that you will be applying to, and you have the ingredients necessary for a nervous breakdown!
Completing your college admissions applications doesn't have to be such a painful experience. In fact, if you break them down into their individual parts, you'll see that completing them is a lot easier than you thought. Here are some strategies to help you tackle your applications and prevent a few headaches along the way:
Take a deep breath - and get a sneak peek . Take some time to request (via mail or by downloading them via the Internet) and carefully review the college applications before setting pen to paper or fingers to keyboard.
Here's what you're likely to find inside the typical college application:
Application forms. These are the forms that ask for all of your vital statistics--your coursework, grades, test scores, activities, honors, awards, summer activities and employment.
Essays. Many applications also require one to three, 500-word essays. The essays provide you the opportunity to expand on an accomplishment or something about you that is not easily reflected in the short answers on the application forms
Recommendations. Start shining some apples to give to your teachers. There also may be recommendation forms that your teachers and counselors will need to complete, describing your academic ability and character.
Each of these pieces fit together to serve a specific purpose. The application forms give the colleges basic information about how you've performed academically and socially. The essays allow you to highlight one of your strengths and demonstrate your writing ability and the recommendations give others' opinions of you.
Focus on leadership and initiative . Colleges want students who are going to be leaders in the future and make a difference in the world. In your applications try to highlight any leadership experience you've had. Wherever possible, give the colleges examples of leadership and initiative in your applications.
Remember preschool? Well, this time show, DON'T tell . Instead of giving an overview of your accomplishments, give concrete examples of what you have actually done. It's important to not just state the facts but to also give some examples of your accomplishments to show the college what you've done.
Make your essay your personal highlights reel . Your essay is the opportunity for you to let colleges know about your most important achievement, goal or personal strength. Your essay should give the admission officers insight into who you are as a person, what's most important to you and what you will bring to their freshman class.
Help them help you . Your teachers and counselors may have to write dozens of recommendations. This means that you should do everything you can to help them. Give them at least three weeks advance notice and be sure to provide them with all of the forms, pre-addressed envelopes and background information about you that they'll need.
Fill the gaps . Maybe your transition from junior high to high school was a rough one. And, as a result, your grades suffered. You don't want to provide a lengthy accounting of every reason why your grades slipped, but explaining that you made a difficult transition into high school and that since then you've matured and gotten better grades will help.
Proofread, Proofread, Proofread! Some applicants have misspelled their own major or even put the wrong college's name in their essays, which has not left strong impressions on the admission officers. The best way to prevent these kinds of careless errors is to complete your applications early enough so that you have adequate time to review and revise and review again.

How and why to start your scholarship search early

For many high school seniors, by the time you are done with your college applications and turn your attention to scholarships, it's too late for some awards. The unfortunate fact is that there are a lot of scholarships with applications that are due in the fall. Whether you delay because of procrastination or because you are preoccupied with college applications, if you snooze, you lose.
To make sure you don't miss out on scholarships with fall deadlines, we recommend the following:
Begin your scholarship search during the summer of your junior year - or earlier. The number one reason most seniors miss the fall scholarship deadlines is because they do not start their scholarship search until the spring. Either on paper or computer create a master file of the awards you want to apply for, along with their deadlines.
Preview the future with scholarship search engines. Get a preview by filling out the profile as if you were a senior. This way you will force the search engine to show you scholarships that will be due when you are a senior. Just be sure to revise your profile with your correct age/high school year once you are done.
Start preparing in advance. For the scholarships that are due in the fall, make them a part of your normal homework routine. Work on them a little every day. This will prevent you from being overwhelmed and ensure that you don't turn in a hastily completed, last-minute application.
Reuse your college application essays for scholarships. You can save yourself some time by pulling out pieces from your college admission essays and reusing them in your scholarship essays.
Don't despair even if you do miss a deadline. The secret to winning scholarships is that you must apply not only when you are in high school but throughout college as well. Apply for the awards that you haven't missed and get ready for next year when, as a college student, a whole new door of scholarship opportunities will open to you.
When it comes to winning scholarships, the early bird really does get the worm - so start early to win more money. While you have a busy life and a thousand things going on at once, if you carve out a little bit of time to work on scholarships now you will be happily rewarded with some money to pay for school when you graduate.

How to Qualify for Financial Aid

Some personal finance techniques for maximizing your eligibilitypublished by financialaid.com
There are many forms of financial aid. Scholarships may be awarded for academic merit, achievement, leadership, artistic talent, and/or athletic prowess. Grants may be based on financial need or your attractiveness to an admission committee. Loans may be based on family ability to pay or just on enrollment. So how does one maximize the eligibility for financial aid?
Let's assume that you are most interested in "gift" aid - that is, money that does not have to be repaid. Federal gift (and subsidized loan) aid is usually need based. It uses a formula that is quite straightforward and looks at family income and assets, family size, and the number of family members in college to determine eligibility. There are a few places you can influence your eligibility:
Assets held in a parents name count much less than assets held in a student's name.
Home and retirement assets are not counted but other non-retirement assets are included in the formula.
Multiple siblings attending college at the same time increase your eligibility.
Are your parents supporting other dependents? Grandparents? Family size is important in determining eligibility. College gift aid may use completely different criteria than the Feds. Don't be shy in telling all in your application to the admissions committee. They are looking for students who will make a difference while in school, and will make them proud after graduation. This includes the genius, the creative artist, the talented athlete, the community service-oriented leader, the geographically diverse, and the ethnically diverse.
Some things you cannot change, i.e. your ethnicity or your IQ. However, you can show your community spirit through volunteering, working at your local nursing home, feeding the poor on Thanksgiving or starting a tutoring program for young children in need. Do you have artistic or performance talent? Keep a portfolio of your work from high school. It will help others to assess your special ability. Be prepared to audition for some awards.
There is no magic way to qualify - the magic is in learning what is available and applying for whatever you think you may be eligible for. This is hard work - it requires organization, perseverance and follow through. However, the returns can be significant.

New Internet-based TOEFL in India Begins April 2006

New Internet-based TOEFL in India Begins April 2006 New TOEFL test reflects real-world university English; Adds speaking component to listening, reading and writing Allahabad, October, 10, 2005 – In April 2006 students will arrive at Thomson Prometric testing centers and other educational institutions across India to take the first Internet-based version of the Test of English as a Foreign Language (TOEFL® iBT). Developed by ETS, TOEFL iBT reflects the academic English used in higher education and is the first large-scale English-proficiency assessment to be delivered over the Internet. TOEFL iBT is the newest version of ETS’s English proficiency test designed to assess English-language skills in academic settings. The test is recognized by more than 5,200 colleges and universities worldwide, and is widely known as the leading academic English assessment. The new test stresses integrated communications skills and communicative competence. ETS created such enhancements as a new speaking section at the request of educators and admissions officials who worked closely with ETS and Thomson Prometric to develop the new test. The changes are expected to have a great impact on how English is taught. Since it was introduced in 1964, the TOEFL test has dramatically increased in stature among students and institutions worldwide. More than 17.5 million people have taken the TOEFL test, including nearly 750,000 last year alone. Unlike other English-proficiency tests, TOEFL iBT does not treat the English-communication process as consisting of separate tasks. The test measures all four language skills and, most importantly, it uses an integrated-skills approach in which test takers need to: read, listen, and then speak in response to a question listen and then speak in response to a question read, listen, and then write in response to a question According to The Institute of Psychological and Educational Measurement (IPEM) the ETS representatives in India: “TOEFL has emerged from being a test of language comprehension to a comprehensive assessment of a student’s ability to communicate productively in an academic environment. The next generation of TOEFL testing will assess communicative competence in English focusing on all four language skills. This means that there will be a full congruence between developing academic English proficiency and preparing for TOEFL, which is a welcome change for both teachers and students. So, in order to do well on TOEFL in the future, students will need to learn how to communicate productively in speaking and writing in addition to actively listening and reading.” Students can take the exam at Thomson Prometric test centers and at other Internet-based university and educational settings. The TOEFL iBT was first offered in September in the United States. Other countries will follow according to a phased plan. (See attached Note to the editor for other planned international launch dates). “This test is a breakthrough in English-language assessment,” says Kurt Landgraf, ETS President and CEO. “It is the only test that uses Internet-based technology on such a global scale to measure English proficiency. It also helps ETS expand its testing to thousands of locations worldwide, greatly improving access for the test takers we serve.” “Equally important is that for the first time, the TOEFL test integrates all four components of language skills – listening, reading, writing and speaking, to help learners build the skills and confidence needed to communicate effectively in academic environments. University admissions officials and educators asked for this, and with their help, ETS’s research and development experts have delivered it.” “This new test is the successful culmination of a multi-year effort, combining a new test delivered using new technology and enhanced services through a significantly expanded set of testing centers worldwide,” says Michael Brannick, President of Thomson Prometric, a part of The Thomson Corporation (NYSE: TOC; TSX: TOC). “We are committed to our collaboration with ETS to ensure effective and efficient testing operations for this increasingly important test. Thanks to our collective efforts, more testing candidates than ever before will have access to the TOEFL test worldwide.” “With the new TOEFL iBT test takers are presented with questions that truly reflect how language is used in an academic setting,” notes Mari Pearlman, Senior Vice President of Higher Education at ETS. “Admission officials, in turn, gain a better idea of how well prospective students will interact at their universities.” “Unlike other English-language tests, we do not use face-to-face interviews for the speaking section of the test,” Pearlman adds. “The interview method may add bias to a test depending on the rapport between the test taker and interviewer. TOEFL test takers record their spoken English. Instead of relying upon one person’s impression, ETS has between three and six highly trained raters review test taker responses. It’s fairer for students and more accurate for universities.” Pearlman says ETS has also expanded the writing section. In addition to the essay section in the current test, the new test includes another writing task. Test takers will read a short passage, listen to a lecture, and then type their response on the computer screen. Test takers are allowed up to four hours to complete the test, and all sections can be completed on the same day, adding a new level of convenience for test takers. Because the TOEFL iBT measures all four English skills, and includes independent and integrated tasks, ETS officials believe it will help English instructors link teaching and learning with testing to better help their students perform in academic settings. Other features of the new test include helpful performance feedback on score reports and score results provided online within 15 business days of testing. A free practice test is also available at TOEFL Practice Online at www.ets.org/toeflpractice. The new test will be administered on fixed dates in the ETS global network of Internet-based test centers and through Thomson Prometric, the world’s largest computer-based testing network. Most test centers will offer 30 to 40 TOEFL iBT administrations a year. The number may vary, based on the number of test takers and test-center capacity. The testing fee in 2005 will be US$140. For the latest information about TOEFL iBT, visit www.ets.org/toefl or contact IPEM 119/25a MG Marg Civil Lines. Allahabad. Email: sumit@ipem.org. Test takers can e-mail toefl@ets.org or call 1-877-863-3546 (toll free in the United States, U.S. territories, and Canada) or 1-609-771-7100. (From ipem.org)

Build a career in ERP

Build a career in ERP

ENTERPRISE Resource Planning, or ERP for short, denotes a software application that allows an organisation (or enterprise) to effectively and efficiently manage its resources. The resource could be manpower, raw material, vehicles, equipment and finances to name a few. Some leading software solution providers have developed ERP packages, which now form the backbone of several large organisations. ERP packages comprise several modules that can be used either in a stand-alone mode or in conjunction with one or more of the other modules. Oracle 11i, SAP, J D Edwards and People-soft are some of the popular ERP applications. These packages have found ready acceptance amongst several large and medium enterprises, and in return have helped the organisations achieve an optimal level of performance in their respective areas.

Demand for these applications is increasing by the day, primarily because of the huge potential they hold out for users. Such an exponential growth has created job opportunities for professionals opting for a career in ERP Package implementation and maintenance.

The ERP scenario primarily offers two types of job options -- that of the Functional Consultant and the Technical Consultant. There would also be other parallel openings in the fields of database administration, systems administration, software testing and network administration. Barring the first two, all the other jobs are more generic in nature and pertain to the software field as a whole.

Functional Consultant: These professionals require a fair understanding of and experience in a particular physical process. For example, an ERP package implementation in a pharmaceutical company would require functional consultants experienced in finance, HR, pharmaceutical manufacturing processes, procurement processes, inventory management, customer relationship, supply chain management, etc.
The functional consultant would thus be a person who analyses the business process of an organisation and designs the process flow of a particular business area.

A functional consultant should ideally be an MBA in the business area he is functioning in; and should have undergone a training session in the ERP, which he is implementing. Solution providers hold training sessions in their respective areas. For example, SAP conducts training modules for functional consultants in all the different business areas involved in a programme. These courses are, however, costly. A minimum of two to three years' experience in the relevant functional area is mandatory. As for monetary benefits, pay scales start from about Rs.15,000+ per month.

Senior consultants may also be employed as architects to design and implement the entire ERP package for an organisation. Pay scales for seniors are generally very high, ranging between 500,000 and a million rupees per annum.
Technical Consultant: Technical consultants basically are software developers or IT professionals. Their task involves development of forms and reports based on inputs provided by a functional consultant. These professionals need to code the business requirements into the software and integrate them to form a contiguous package.

Typically, you should be a graduate in computer sciences to qualify for the position of a technical consultant. You should also have taken part in a training programme conducted by the respective ERP developer. Experience is not an issue at the entry level. However, senior developers and system integrators need to possess at least 5 to 7 years of experience in development. Pay scales vary from about 12,000 rupees per month at the entry stage to 50,000 rupees at the senior level.

A very senior IT professional may qualify as an architect to work along with a functional consultant in designing and implementing the application.
Many job opportunities also exist in the US and other developed countries, where there is a high demand for experienced ERP professionals with good communication skills.

The career benefits
If you are considering making a career move and becoming a consultant, a self-motivated ERP education is self-justifying. You will simply be more attractive to a larger number of potential clients if you are ERP-knowledgeable than if you're not. While many available ERP consulting positions seem to want at least one implementation experience, this isn't a big hurdle. You can overcome this issue by pursuing certification or simply marketing yourself at a bargain rate. Having an ERP knowledge base but no practical experience is certainly a much better skills position than not having any ERP knowledge at all.
If you realise the probability that your company will soon go to ERP, then a proactive approach to learning the ropes will make you the point person when the CIO begins putting the program plan together. There could be no better career move than to be three jumps ahead when the reinvention of your company gets under way. You'll be indispensable to the CIO and CTO and a tremendous aide to all your peers.
And keep in mind that even if you go to the trouble of learning ERP only to find that your company won't be converting anytime soon, your career and potential advancement have been greatly enhanced and will prove beneficial despite your company's ERP setback.
Unless your company is some kind of unusual standalone that just doesn't work with vendors or customers, your non-ERP shop is still required to work with partner companies that are. The tasks involved in this kind of relationship include setting up portals, designing shared B2B apps, and, in general, accommodating the partner company that is into integrated and distributed processes.
Once again, you will become the go-to staffer if these tasks are on the table and you're the one with some ERP know-how.