Posts Tagged ‘college’
Posted by admin on July 8th, 2009
A good way to think about consolidating student loans is protection. If you have variable-rate federal student loans, you can convert your variable interest rate to a fixed interest rate. By consolidating and fixing your interest rate, you have protected yourself from future interest rate increases. You’re unlikely to catch the exact bottom so don’t try. Consider the long term ramifications of a variable or fixed rate loan in your financial plan and consider alternatives.
The current fixed rate consolidation loan rate is 2.5%, historically low. In addition, don’t be in a rush to pay off the loan if you have alternative investment options available. For instance, let’s assume you receive a bonus of $20,000 (after tax) and are looking for things to do with that money. After booking that cruise you’ve always wanted to do, look around at your investment and debt repayment options. If you are carrying credit card debt and your interest rate is greater than 9%, that’s probably a good place to put some of that bonus money to work. You’ve effectively earned a 9% return on your money by not having to pay future interest to the credit card company. How about a car loan? Pay it off and use the old car payment as a monthly savings plan into your 401k or IRA. Before paying off some of the 2.5% student loan, consider investing in a good growth mutual fund by opening a Roth IRA and saving $5,000 plus all future earnings are tax free. If you believe an investment in an IRA will earn you more than 2.5%, you’re ahead of the game.
Examiner.com
Posted by admin on July 6th, 2009
Years ago, when I graduated high school, I never thought twice about the debt I would rack up while attending college. I signed away on forms at the beginning of each semester not really grasping what was going to hit me once I took off that cap and gown. Six months into the real world, I started paying off the nearly $18,000 in debt I had accrued since my freshman year and I was one of the lucky ones! My parents helped pay for my tuition otherwise I would have been sitting on over $30,000 worth of debt. It puts a knot in my stomach to think of when my children are ready to go to college.
Are these loans really the best idea for our children? They’re starting their adult life in debt thousands upon thousands of dollars. Especially in these economic times where jobs are scarce, how can they even be assured a job once they graduate?
Is there a better way? There’s something to be said for schools where you cannot use Financial Aid. The costs are upfront and you know what you’re getting into, financially speaking. And, most of them offer payment options to make the cost a little easier to digest. I think even some 4-year colleges and universities have monthly payment options although I’m not sure how “affordable” they really are.
What are your thoughts/feelings? Would you still choose to defer the debt if you had an affordable option?
Posted by admin on May 18th, 2009
Before crunching numbers and working out a fine tuned college payment plan, first consider why you want to go in the first place. Generation X and Y were born in a unique era - most of us went or plan to go to college because “that’s what you do after high school”. We didn’t enroll with an end goal. Ask any professional student what they actually plan on doing with their diploma and nearly 90 percent have no clue (and think that’s just fine). What we see is an entire workforce convinced that degree equals job.
My peers fresh out of college have no applicable skills, little real world experience, and an “I deserve it attitude”. So this is why a decade later those same sixth year seniors are finding new ways to enroll in post-grad work to wander through the wasteland of higher education, delaying even more life. This speed off to more class mentality leads to idleness or, even worse, disillusionment.
1. Get an apprenticeship
If you don’t have feel for your vocation, take time off or work during high school to learn from a professional who specializes in something you like. Offer to sweep floors, answer phone calls, shine shoes, anything to get a feel for the occupation. Owners love to employ free slaves. Devote a good amount of time to experimenting in different fields so you have a better picture of what your skills are and what you actually enjoy. This will save you thousands in tuition from switching majors three and four times, like I did.
2. Take advanced placement classes and tests in high school
I have mixed feelings about this one. Being a former secondary teacher I have seen both the beneficial and nasty sides of AP tests. The College Board sets such outrageously high standards that many colleges don’t even meet. And check with the universities you plan to attend to see if the have a limit on the number hours accepted for credit or if they accept AP scores at all. Inquire about taking CLEP tests instead - they are college specific and have, historically, been easier to pass. That being said, the class work involved to prepare students for the test sets a good pace for college level learning.
3. Take basic courses at a community college and then transfer
Only take courses that are commonly required by larger universities. If you plan on transferring to a specific college, thoroughly research the courses required for freshmen and sophomores - you don’t want to take unnecessary classes. A friend of mine was offered a scholarship to a community college where she took her basic courses and then transferred for a fraction of the cost of a four-year program.
4. Search for scholarships and grants
If you value any cent of your dollar, apply for every give-away program you can. Many scholarships aren’t even awarded because they don’t have sufficient applicants. Talk to the counselor at your high school or a prospective college to get more details and do your own searching online. Yes, it is a pain to write twelve essays on a difficult life experience and how you grew because of it, but it will pay out in the end.
5. Seek employment after college that offers tuition reimbursement
Many employers offer additional stipends for student loans or reimbursements in exchange for a time commitment. The military has and education program as do most police departments. Even more will pay for employees to attend graduate school. Do some investigation before accepting a position if you’re looking to continue with school.
6. Find a work-study program
Many schools offer campus work in exchange for tuition reimbursement. Most of these gigs are a cakewalk. I got a job as a language lab “supervisor” which meant I checked out copies of Destinos to two students a night while I caught up on homework. They offered a reduction in tuition in exchange for “work.”
7. Avoid private schools if you can help it
If the fantastic liberal arts school in Farawayville seems too enticing to pass up, take the rose-colored glasses off for a moment. Do some serious research. Is the price tag worth it? What do you plan on doing with your degree? Are you choosing an undergraduate program that requires a master’s degree as well to put it to use? College rankings don’t always indicate the strength of your chosen program. For example, when Wakefield eliminated mandatory SAT scores with admission the pool of students applying shot through the roof. Since they didn’t accept a larger number of applicants their acceptance percentage shrank, thus sending them up the ranking. Neat trick, but it doesn’t make the education any better.
Whatever your chosen path, avoid the poachers giving away free t-shirts to unaware freshmen who sign up for a Capital One card. If you can’t pass up free stuff, call me; I have plenty of tacky apparel to spare. Avoid racking up tens of thousands in the name of a smarter self. It won’t always deliver and the excessive cost will greatly limit you in your 20s.
NewsTribune.com
Posted by Sharon Cece on December 29th, 2008
The great thing about going to college today is the nearly infinite number of choices students have in attaining and experiencing their educations. From local community colleges to world-wide programs, the sky’s the “un”-limit.
I was fortunate in that I was able to attend college both locally and out-of-state. While I highly recommend doing both–or all, for I wish I had also attended college internationally (and who knows, still might)– students must also make pragmatic choices that serve their specific needs and life situations. Single students have more flexibility than married, full-time students have more intense scheduling issues than part-timers, etc.
Here is where online learning offers it’s greatest benefit: unlimited program options. Before online alternatives, as suggested above, one either had to attend school at a local college or completely transfer out-of-state. I did both, which were invaluable experiences. Yet, once I was married with kids I couldn’t just pick up and move back to Tallahassee to finish my degree. Therefore, “college online” satisfied all of my educational needs and brought the out-of-state right to my front door. What a concept.
That’s not to say locality wasn’t an important consideration for me. Initially I did lean toward local schools since those programs are always more cost-effective. Out-of-state students, even online, usually pay twice as much as local students. An added benefit to local colleges are the extra-curricular events, concerts, lectures and programs that are accessible to students; obviously, I couldn’t attend any of those as a distance learning student and so missed out on the experiences they offered. On the other hand, I did take advantage of those events and programs while I was a student living in Tallahassee, and so when I returned as on online student to get my degree years later I had a singular goal in mind–graduating! The other benefits were secondary at that point in my life, and financial aid and academic grants assisted me with the higher out-of-state fees.
Choices today are as varied as the many programs offered to students. It’s a great time to go to college!
Posted by Sharon Cece on December 23rd, 2008
The $64,000 question (or perhaps the $64 million by the time my kids finally go to college) is “What college should I choose to attend“? It is an extremely important question, since your alma mater will be part and parcel of your life forevermore. This blog is case in point: even though I’ve graduated from FSU I’m still representing FSU in this forum and a number of other ways. Which I know has you begging the question, Why FSU?
As it happens, I applied to a number of colleges both when I was starting out at 17 and again when I decided to finish my degree at 38. Now, admittedly I chose a county college 25 years ago primarily because I was broke and, well, it was cheap. Good, cheap education– by and by something no 17-year old can turn down. A few years later I transferred to FSU out of sheer adventurous spirit, the Sacagawea of the Educative Expedition.
And, as I’ve pointed out in previous articles, left with 96 credits under my belt sans degree.
Okay, fast forward, oh, fourteen years or so. I’m ready to take the plunge and finally finish that degree. Back to the $64,000 question.
Number one in the list of my “choosing” criteria was locality. Since I now live in the Academic Mecca (Duke, UNC, NC State, Campbell University, East Carolina… just to name a few) I was fairly sure I would pick a program from the local zone to finish my degree. I sought information from three of those and had sticker shock from two; the third, NC State, was conveniently located and cost effective, but did not offer the program I was seeking.
Concurrently, I inquired about FSU programs, never believing I would end up back there but did so out of sheer sentimentality; as well I considered two other “online” schools, one a well-known online university that is in fact featured on this website. So all told, I requested information from six college programs– three brick and mortar, three online.
Looking back, all of the information I received was very helpful in making a choice (in other words, the costs of some colleges alone were enough to help me make a decision, that being a whopping YEAH RIGHT). It’s easy to eliminate a college simply because you can’t afford it! Which left three finalists. Well, really one finalist. FSU was probably my only choice deep down, and I requested information from the other schools simply because I felt it’s what a practical person should do, which is to consider many options. I felt six was a good round number for inquiry and I’m glad in retrospect that I did entertain other options, if for no other reason than simply to be able to remark with aplomb, “Why, naturally I considered many other schools and after careful consideration decided on…..”
Good luck!
Posted by Jen Zeman on November 3rd, 2008
It’s general knowledge that a MBA or a bachelor of science in nursing are admirable and trustworthy degrees that have stood the test of time, but what if are interested in something outside of mainstream? There are many colleges and institutions that offer creative degree programs, but I found these degree programs to be most unique (http://www.bspcn.com/2007/10/19/top-10-most-unusual-college-degrees/):
- Master Ranching offered at Texas A&M-Kingsville
- Astrobiology offered at the University of Glamorgan in the UK
- Retail Floristry offered at Mississippi State University
- Professional Nanny offered at Sullivan University
- Sports Ministry offered at Campbellsville University
- Adventure Recreation offered at Green Mountain College
- Golf & Sports Turf Management offered at Mississippi State University
- Comedy: Writing and Performance offered at Humber College in Canada
- Organic Agriculture offered at Washington State University
- Fishing Sciences and Management offered at Colorado State University
So if you are looking for an educational experience beyond mainstream, take the time to do some research online. As you can see from the list above, if you have an interest in it, there is a good chance someone offers a degree in it. Just be certain that it is a career field you are passionate about before plunking down $25,000 - $50,000 for a degree that may not help you anywhere else!
Posted by Sharon Cece on October 28th, 2008
Discipline is the key to any success in life, but especially in regard to an online education. For those attending college on campus, degree seekers receive notices to arrive at campus locations where information is provided immediately by a campus representative. Books are purchased in line at the bookstore, student fees are paid at the Bursar’s office, and social activity takes place en route to any of these destinations in addition to the Student Union. Coursework is learned in classrooms according to the university’s and the professor’s schedule. Discipline of course is required; however, guidance and information are more easily obtained and identified on campus comparable to the online milieu.
Online learning is a wonderful and innovative way to obtain your degree, and certainly the primary benefit is flexibility. Yet, success occurs most often when flexibility on one end is pared closely with discipline on the other. Since specific schedules are not set by the professor, the student must set them and be diligent in keeping up with the coursework and classroom discussions and virtual class participations. Financial aid as well as billing is handled exclusively online, and while this is convenient it sometimes requires a bit of e-sleuthing to locate the information and websites you are seeking. Often there are no reminders of testing and projects ongoing as might happen in a campus classroom; for this reason the student’s best friend is a good planner.
The first semester online can be a bit daunting, as the student will discover that much of the information must be located online and with perhaps a bit more work than just walking into a building and asking questions. It takes time to learn to navigate “Blackboard”, the e-Education platform, as well as the threaded discussions and virtual classrooms. However, after the first semester or two, the student finds he or she becomes quite adapt at online navigation. The technology can be challenging but is also very exciting and opens the student to a new world of learning. One college graduate, Francesca, shares this experience:
“My college had more and more distance learning. Having had done it, I say that it is actually harder in some subjects. It is accelerated and a lot of the learning is your own understanding of the discipline. If the discipline is one you are interested in - like psychology - then you do well. If it is statistics, then some on campus or tutoring can help. My son does distance learning with MIT and now they have chat rooms and the teacher may have a web CAM and you can see her and if you have CAM they can see you. Sometimes the teacher has a white board and can draw diagrams for the class. It’s really neat. In any and all events, you have to have discipline, discipline, discipline”.
For the student who wants to attend college but needs more flexibility than the campus can offer, online learning is a wonderful alternative. Discipline in study and scheduling will ensure the success that is necessary to complete curriculum goals.
Posted by Jen Zeman on October 11th, 2008
Unless you have been living under a rock or in the remote regions of the Appalachians, you realize the United States is in a serious credit crisis. This crisis is affecting all markets, including higher education. If you are contemplating going back to school, you may be worried with the economy in its current state it doesn’t make much fiscal sense to attempt financing college. While it’s true that because of the credit crisis the cost of student loans, especially private loans (i.e. loans by such companies as Sally Mae or your local bank), are more expensive because of an increase in interest charged, college still remains a sound investment in your future. Federal loans are still reasonable and are always an option. According to www.education.yahoo.net, those who obtain a bachelor’s degree earn an average of 88 percent more a year than high school graduates! It is true that there are infinitely more opportunities for individuals with a college degree than just a high school diploma, so invest in yourself. If you are still uncertain if you can afford to back to school, I strongly encourage you to make an appointment with a financial aid counselor at your school of choice. They will be more than willing to explain the financial aid process and how educational loans can fit into your budget.
Posted by Jen Zeman on July 6th, 2008
Time management and prioritization of responsibilities are not as daunting as they sound. I will admit up front that I do not have children, which made prioritization and managing time a little easier for me. Those readers who have children can hopefully take some of this advice and tweak it to their specific needs.
When I studied for my bachelor’s, I was also working full-time while taking three classes a semester. I knew I had a lunch hour, some evenings, a full weekend, and vacation days I could leverage in completing my school work. My employer offered flex time, so I also had off every other Friday which helped tremendously. If your employer doesn’t currently offer flex time, perhaps now would be the ideal time to propose it your boss. Before the start of each semester I would map out the major projects that were due and scheduled off accordingly. For example, if in mid-October a major paper was due, I would schedule a couple of days off a few weeks prior to allow me time to complete the paper, without stressing out.  The less stress, the more successful you will be!
Organization is something I often lump into time management because, if you are organized, you manage your time better. The caveat to be being organized is that you will have to spend some time up front getting things in order. Before a semester started, I did a couple of things. For one, I made up separate binders for each class, printed the syllabus and filed it in the front of the binder. Each binder would be divided up amongst major projects, weekly activities, and research material for the projects.   Secondly, with the syllabus in hand, I wrote on a large whiteboard project deadlines for each class for the entire semester. With this white board hanging right next to my desk, I could see at a glance what was due when (which comes in handy when you need to schedule that time off to work on projects). The best part of having the whiteboard was being able to erase projects as they were completed! It boosts your confidence to keeping plugging away! If a day planner works better for you, go for it. I just strongly suggest having some medium to use to clearly write out your deadlines for your course work instead of just referring back to the syllabus. As working adults with a million different things going on at any given time, it is very easy to overlook a project and most professors will not be sympathetic to an excuse of “I was busy and forgot.â€Â Trust me on this!
Prioritizing responsibilities will be just as tough sometimes as organizing your time – they actually go hand-in-hand. I made up my mind at the very beginning I was going to take on a heavy school load in order to finish early. I knew that doing this along with working full time was not going to leave me with much time, if any at all, to do anything else. I decided everything else was going to take a backseat to my school work. In other words, I had no social life or real time to myself for two-and-a-half years. I made sure I still exercised, but outside of that it was all school work. I may be a drastic case, but adults soon learn shortly after starting a college course that some leisure activities need to be stopped in order to accommodate the requirements of college. It is difficult, but you will need to decide before school starts what activities you will be giving up. For those with children, it might mean one less activity that the kids participate in after school. I know, it’s rough (at times feeling like a prison term), but the thing to keep in the back of your mind is that it is only temporary. Some people may not understand and will try (usually unknowingly) to sabotage your school work commitments, but you will have to stand your ground.Â
It is about you right now and your future success in school and then ultimately in the workforce. Be proud of your commitment of college and take it seriously. Get organized and face the challenge head on with confidence knowing that you are on top of your responsibilities! The pay off is worth the time you put into it.
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Posted by Jen Zeman on June 29th, 2008
Online degrees from accredited colleges and universities offer higher education opportunities for those who might otherwise miss out. The classes are extremely convenient since you can complete the coursework based on your schedule; there is no commute to a classroom for a three-hour sit-down lecture at a specific time each week. However, do not fall into the trap of confusing convenient with “easyâ€. Online courses are very challenging as you will have specific requirements due usually daily and weekly.  For example, you may be required to post responses daily to a specific forum your professor posts in addition to lengthy written assignments that are due that week. So, while you may not be “sitting†in a classroom three hours a week, you more than make up for that with work assignments scheduled with online courses.
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With that said, online degrees don’t appear to be for everyone out there. Online degrees are ideal if you are disciplined, hard-working, and very organized. If you have a difficult time completing work without the structure of physically meeting in a classroom (to be accountable for your work) or are easily distracted by other responsibilities going on outside of work and school, you will struggle. But it’s not hopeless! Work on your time management skills and prioritize your responsibilities and you can be quite successful with an online degree.
My next post will discuss the appropriate time management skills and responsibilities prioritization needed to help you succeed in achieving your online degree. Â
