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Archive for the ‘Education Savings Plans’ Category

Americans Study in Canada to Save $$$

Tuesday, May 19th, 2009


American high school students are increasingly applying to Canadian universities for the lower cost and higher quality education. The Globe and Mail reported that this past academic year 9000 Americans studied at Canadian universities, a number that has tripled over the last decade.

The Canadian university experience manifests above and beyond French fries with gravy, hockey, and slightly different spelling. Forget about low tuition, many Canadian universities are world class ranked academic institutions. At many Canadian universities, you can have a valuable college experience with the advantage of a quality education. There’s a reason why McGill University students brandish Harvard as “America’s McGill”.

Tuition at Canadian universities for American students saves American students tens of thousands of dollars. American students might also want to factor in the cheaper living expenses of major Canadian cities like Toronto, Montreal and Vancouver compared to the high prices of their American counterparts. Just compare costs of tuition and living expenses at Boston University and McGill University and see why so many American students have followed their nose towards the wafting odor of fries covered with melted cheese and gravy.

One Money-Saving Call

Tuesday, March 24th, 2009

Most credit card holders have recently been hit with higher interest rates and lower available credit. The good (if not slightly irritating) news is that, for many, a phone call is all you need to get things back to normal.  Here is what you need to do:  Do your homework and be ready to cite the following:

1.    The rate that you want (8% is a fair number to ask for).

2.    How long you have been with the company (it’s great to be able to say “I have been with you for five years, but I have a better offer…”, etc.).

3.    Your FICO credit score.  A higher score (700 and up) will get you additional leverage.

4.    If you make your minimum monthly payments on time.  In this scenario, as long as you pay your minimum it is actually okay if you don’t pay off your full balance each month.  Think like a credit card company - they make money off of you when you carry a balance.  So, as long as they believe that you will continue paying off the balance, they want to keep you.

5.    Use a credit card comparison service (such as bankrate.com or creditcard.com et al) to find which cards have a lower fixed rate than your current card.  (Introductory rates can be teasingly low, but find out what the rates become after the honeymoon is over.)

6.    You also want to pay close attention to the various fees attributed to each card.  Knowing what other offers are out there may actually make you want to move to another company, but even if it doesn’t, it will arm you with an aresenal of competition.

Now, what should you actually say? Well, this is actually the easy part. Consumers who participated in a PIRG survey used the following script:

“Hi, my name is [Your Name]. I am a good customer, but I have received several offers in the mail from other credit card companies with lower APRs. I want a lower rate on my card, or I will cancel my card and switch companies.”

How simple was that? And of those that used the script, more than half scored a lower rate.  With the average drop going from 16 percent to 10.47 percent.

Now, if you don’t get what you want right away, politely ask for a supervisor or manager.  The college financial aidperson you initially speak with may not have the authority to lower your rate.

Be polite, but firm.  Yes, you have to make some noise if you want to get something done.  But be sure to make your complaint in a friendly manner so that the customer rep actually wants to help you out.

                                                                                             

This article was previously published on by Thrive, a free online personal financial service based in New York City. They share tips about personal finance and how to make the most out of your financial life.

To keep your finances in check when applying for college, don’t forget to use our Financial Aid Calculator!

Erase Student Loan Debt and Make College Affordable!

Wednesday, February 18th, 2009

Did you know that only 25% of adults over the age of 25 have a college degree? With unempcollege loanloyment rates reaching unprecedented highs, getting an education is an important step that you can make in order to not only advance your education but also to secure a good job for your future. In fact, the results of a survey we conducted back in October revealed that an overwhelming 96% of respondents reported that in times of economic crisis, a college degree becomes even more important for employability. However, the hurdle that prospective students face isn’t that they don’t want to go to college—it’s that they worry whether or not they can afford it. The same survey illustrated that 75% are worried, of which 33% are “very worried” about paying are for their college education, and 33% had no tuition money saved. It is clear that there is a student debt crisis developing in America today.
On February 13, the Congress passed a vote that put into effect President Barack Obama’s proposed economic stimulus plan. The plan allocates $150 billion for education reform. The Obama administration has also introduced ideas such as eliminating the confusing FAFSA form and creating the American Opportunity Tax Credit, ensuring that the first $4,000 of a college education is completely free for most Americans willing to conduct 100 hours of community service. While these ideas are surely a start, so far we haven’t seen any of these ideas come to reality, and the average college student is still $21,00 in debt with college loancollege loans.
What can we do to make college more affordable? CampusCompare is trying to get 21,000 signatures—1 for every $1 of debt—to take to Congress as a testament to the student-loan crisis in this country. Our focus is on college affordability and decreasing the student loan debt that students have after college, thereby encouraging more students to attend college in the first place!

CLICK HERE!! to sign the petition for a debt-free college experience!! And click here to join the event on facebook to help the cause!