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Archive for November, 2008

College Costs In Current Economy

Wednesday, November 19th, 2008

In case you haven’t heard, the economy is in a bit of a “downward spiral.” Banks have collapsed, stocks are falling faster than Jack OR Jill, and mortgages are about as valuable as last year’s iBook. If you are listening to the news, you might be thinking that we are headed for the next Great Depression. Start standing in line NOW folks, because bread is going to be the hottest ticket in town.

I’m thinking, it’s a pretty good time to be in college.

When I was in High School, I watched every single Sex-in-the-City religiously. It looked like soon my life would be filled with high-heeled pumps and hip nightclubs. Turns out it was a pretty inaccurate college guide.

Instead, my independent urban student (and post-student) life is filled with Payless BOGO and Pabst Blue Ribbon. And you know what? I like it better that way. In spite of college loans, life is great when you are single, 21, and live with 4 other roommates in a 2 bedroom apartment. We just bought a Foreman Grill. It’s pretty pimp.

So long as I can pay my rent, I consider myself well-off. Sure the job market is a little tight, but at least I don’t have an actual career to be laid-off from. If your idea of a job is working at Starbucks or the Gap, than chances are, you’re going to be okay. Hey, even ex-exec’s can’t kick their caffeine habit.

For ye who sleep on futons and eat Ramen sandwiches, rejoice!

Now is a great time to have absolutely no money saved! I thank the day I was never able to accumulate enough capital to invest in the stock market.

Like Chit Chat with Brit said in “Bail Out, Schmail Out”, quit whining college students. Be thankful we have four years to get out of this mess. And last time I checked, Ramen noodle prices are not rising.

So boohoo, the Dow is falling, the Dow is falling. Shut-up Chicken Little, I’m busy drinking my PBR.

College Loans Blog

Monday, November 3rd, 2008

We’ve all got money on our minds these days, so that’s why it’s so important that you are well-informed about the process of applying for and paying off your student loans. CampusCompare wants to fill you in on the basic details of the student loan procedure!

You can apply for two federal student loans—the Perkins Loan and the Stafford Loan. Both loans offer a six to nine month grace period after graduation for you to have time to get a job before you begin full loan repayment.

You will be approved for either a subsidized or unsubsidized loan. The difference between subsidized and unsubsidized lies in who pays the interest while you are in school. For a subsidized loan, your interest is paid by the government until you graduate. Subsidized loans are usually given to lower-income students. With an unsubsidized loan, the student is responsible to pay the interest during school.

Remember, it is absolutely essential that you begin paying off your loans on time—not doing so can be detrimental to your financial future! So you must be prepared, and finding yourself a good financial aid calculator is a good start. Also, take the time to consider going to a public college rather than a private. For example, the cost of going to the public school University of Massachusetts at Amherst is less than half that of going to Boston University, a private college.

But don’t let your dreams die over the dollar—there is still hope yet that you can afford your dream school. To learn more about the student loan process, check out sites like the College Loan Corporation, a top 10 private student loan provider who has helps students and families pay for college with their expert loan advice. Hope that helps you on your way to your ideal fiscal future!