Hello FCS Subscribers! Chances are you've had a cold winter and are ready for spring. Here in San Francisco we've had a long period of rain by the coast and snow in the mountains. If you're a student its been easy to stay at home on the weekends and study and spend some time with our families - unless you like skiing or snowboarding.

Our economy has been even chillier than the weather. The current economic downfall is negatively affecting employment, homeowners and the stock market. But how will it affect you as a student?

Weather the storm with a 10k scholarship from FreeCollegeScholarships! Make sure you're entered in the 10k scholarship drawing on March 25th. Click Here to Register

In this newsletter, we'll discuss how the current economic situation may impact you and your financial aid for higher education. We will also provide tips on how to survive your educational finances during these tough times.

Student Loan Shift
Student loans are getting tougher to come by especially if you are attending a community college or online school. In these cases, students have been applying for private loans instead of federal loans. Also, applicants who don't have the best credit history will encounter difficulty when applying for loans.

What does this mean for you? You may be forced to get a student loan from the government first. Reuters reported on Thursday that private student loans would be much tougher to find. In President Obama's federal 2010 budget, all federal student loans would be shifted into the direct loan program, administered by the Department of Education. These proposed changes could end the Federal Family Education Loan Program, which has funded many private student loan groups.

Student Aid for those in Need
One piece of good news is that President Obama's proposal would help some students who need student aid the most. On Friday the NYTimes reported, "The proposal would increase grants to the neediest students and allow those grants to rise slightly above the inflation rate, an effort to keep pace with tuition increases."

Would you like another opportunity to win a $10,000 scholarship for school? FreeCollegeScholarship's partner program, ScholarshipProvider, will hold their next drawing on March 25, 2009. Click Here to Register

Financial Tips in an Economic Downfall 1. Investigate federal loans first. Interest rates are fixed, they are more readily available and easier to re-pay. 2. When applying for a private loan, have a creditworthy co-signer. 3. Save! The more money you save now, the less you have to payoff later. 4. Apply for FAFSA. 5. Apply for free scholarships. Research on scholarship database websites like Fastweb. In addition to FCS, you can also find college scholarships available on Scholarships4Moms, FreeMilitaryScholarships, and ScholarshipProvider. That's all for this week. Do not forget to register for the March 25th FCS scholarship drawing, and stay tuned for next week's newsletter! Good Luck! FCS Scholarships

Name: Danitra Henry
Hometown: Sacramento, CA
Drawing Date: Nov 14th
"I want to give my sincerest gratitude to FreeCollegeScholarships for the generous prize I won. They have blessed me with one of the most miraculous opportunities one can bestow upon a struggling single mother of two (one unborn and one terrifically two years old) second year-college student. They have not just given me a scholarship, but an opportunity bundled in an abundant monetary amount, equivalent to about ten semesters worth of school books, supplies, and fees, a laptop, or a little more than seven-and-a-half months worth of room and board!

Just as I started to lose sight of all that I accomplished in life and began to dwell on what I thought were “missed opportunities“, it took a single phone call to quickly bring me back to reality- and to tears, too (the happy kinds, though). The reassurance that “life will be okay” for my daughter and I is why FreeCollegeScholarships has given me a true blessing, much more than a ten thousand dollar check, winning this scholarship has proven to be a golden opportunity, also. I am finally able to breathe- just a little- and stay humble- and hungry- about furthering my education."