Collegiate Fitness Logo Design

We need to generate a logo for our website ([login to view URL]) but we aren't skilled enough with design tools. The idea is as follows: Collegiate (*) Fitness For Students, By Students "Collegiate Fitness: written in a font similar to the Old English we currently use and much larger, as it's the site name (*) = a graduation cap (4 corners, tassle) image [login to view URL] Similar angle as this jpg but with a more updated tassle "For Students, By Students" in a smaller, plain (Verdana-style) font centered beneath the site name and graduation cap Colors: #210986 = our background color We are still in the design process but the idea is to incorporate a strong yellow or gold with the #210986. Idea: Collegiate Fitness outlined in yellow/gold, rendered #210986 or similar/complementary blue shade Graduation cap outlined in yellow/gold, rendered #210986 or similar/complementary blue shade For Students, By Students outlined in yellow/gold, rendered #210986 or similar/complementary blue shade A few of our friends are graphic designers and told us that we aren't really asking for much and we already know what we want, but they're tied up with corporate projects and can't help us out. We were originally going to do a logo contest but once we decided on the actually idea itself, we knew we didn't need a $300 contest.