#mark kantrowitz

Blogger’s Note: Tamar Lewin writes on The Times’s Web site on Wednesdaythat President Obama will announce new programs “to lower monthly loan payments for some students graduating next year and thereafter and to let borrowers who have a mix of direct federal loans and loans under the old Federal Family Education Loan Program consolidate them at a slightly lower interest rate.” Mark Kantrowitz, the publisher of the financial aid Web sites finaid.org and fastweb, was asked by The Choice to write a quick essay explaining what the proposal might mean for applicants this year, and in the future, for current students and recent graduates. — Jacques Steinberg

More than 600,000 people have signed a petition calling on President Obama and Congress to forgive all student loans. The president has responded by making it easier for college students to repay their federal student loans. But many of the borrowers who signed the petition or who are participating in the Occupy Wall Street protests will not benefit from the lower monthly loan payments.

We’re in the midst of FAFSA season, and parents are striving to get out the aid applications as students anxiously await to hear from their colleges of choice. Will they get in? Will they get offered enough aide? Will it matter if they don’t?

With student debt surpassing credit card debt last year—and projected to hit $1trillion dollars in 2012, it does matter. Most young people today will pay three times what their parents did—a trend only projected to continue.

What if you had all the secrets to winning a scholarship? Would you tell the world — or keep them for yourself? Fastweb’s publisher, Mark Kantrowitz,does have all the secrets, and fortunately, he’s spilling everything he knows.

Kantrowitz has provided Fastweb with the top 12 tips on winning a scholarship:

1. Start searching for scholarships as soon as possible. Don’t wait until spring of your senior year in high school to start searching, or you’ll miss half the deadlines. There are many scholarships available to students in grades 9, 10 and 11, not just high school seniors. There are even scholarships for students in grades K-8. Continue searching for scholarships even after you are enrolled in college.

2. Answer all of the optional questions on a scholarship matching web site for about twice as many matches.

3. Use a free scholarship matching service like Fastweb.com. The Fastweb database is updated daily, and the site will email you notifications of new scholarships that match your personal background profile.

4. Look for local scholarships on bulletin boards near the guidance counselor of financial aid offices, or the library’s jobs and careers section.

5. Apply to every scholarship for which you are eligible. Pursue less competitive scholarships, such as small awards and essay contests, since they are easier to win and the money adds up and helps you win bigger scholarships.

6. Don’t miss deadlines. Use a calendar and checklist to get organized.

7. Tailor your application to the sponsor’s goals. Read and follow the instructions carefully.

8. If you have difficulty writing essays, try recording yourself as you answer the question out loud, and transcribe the recording later. Most people can think and speak faster than they can write or type. Create an outline afterward to organize your thoughts.

9. Personalize your essay and be passionate. Write about something of interest to you. Make your application stand out from the crowd. Talk about your impact on other people. Give examples and be specific.

10. Google your name and make sure you have a professional online profile. Use a professional email address, such as [email protected]. Clean up the content of your Facebook account, removing inappropriate and immature material.

11. Proofread a printed copy of your essay and the application for spelling and grammar errors.