In the past, students were besieged with credit card offers a few years before graduation. The cards proved too tempting to most college students who weren’t informed enough to use them responsibly, leading to a significant debt burden upon graduation. Whether that situation was a problem of poor financial management on the part of the student or aggressive credit card tactics that targeted a vulnerable demographic, changes have now been made. While much of what is happening is good news, other people fear it can lead to an increase in other types of loans amongst college aged students, most notably payday loans.

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That’s a question that many new college students are beginning to ask themselves. In this recession, the horror stories of graduates going into the worst job market in decades armed with a degree that cost them $30,000 or more in debt, have made some college students reassess decisions for college. Too expensive options are frequently being put aside for more reasonable choices: community colleges, in-state colleges, and foregoing the on-campus experience. A college degree may be more of a necessity than ever, but the debt that goes along with it can easily be done without. (more…)

Student loan statistics indicate that the average 2009 college graduate is going to receive their diploma and be in debt to the tune of $22,000 in student loans. This does not take into consideration the roughly $9,000 in additional credit card debt that a majority of students will graduate with as well. This leaves many people just entering the job market with an enormous financial burden. Even someone with good financial management skills will be challenged to meet their basic expenses easily. (more…)

To get ahead in life by securing a great paying and secure job, one of the best things a person can do is complete his or her education. The number of years in college would depend on the degree being earned and the job focused on, which ranges anywhere from two to ten years or more. While some people are more interested in doing something they love, others look at career opportunities based on pay and then decide what they want to be. Regardless, people should take time to learn about the starting salary after college for various career paths. (more…)

Many people express interest at going to college and furthering their education, but state that this particular goal is out of their reach. The primary reason given by most people for not going is that college is too expensive. While the price of college tuition has increased, so has the amount available through a variety of federal grants, scholarships, and student loans. People are, unfortunately, severely uninformed when it comes to the types of assistance available in order to help them get through school. When it appears that all college expenses must be paid out of pocket, it’s easy to become overwhelmed by the total cost. With a bit of help from the various forms of financial aid that are available, attending college becomes a very attainable goal. (more…)

Graduating from college is supposed to be one of the most hopeful times in a person’s life. Upon receiving a degree, the world is supposed to become your oyster and the job market is supposed to be a vast field from which you can choose the job that you like the most. For the roughly 1.5 million people graduating in 2009, however, the prospect is a bit different. While the dream scenario has been true for many graduating classes, 2009 college graduates find themselves entering the job market at the time when there is the least money available for hiring new workers. (more…)

If you’ve been unfortunate enough to lose a professional job in the last few months, you might be amongst quite a large proportion of these people who think this interruption to their career might create a good opportunity to go back to school full time and get an MBA qualification. Apparently applications for MBA programs have had huge increases over the last few months.

All that means that if you’re applying for an MBA, you have to make sure your application is going to stand out a bit more than all the other people who are in the same situation as you. According to Annie Fisher at Fortune Magazine, your application (and interview, if you’re invited) needs to focus on the following:

• Your ethical values - give an example of your own ethical behavior in business, even if you were working for a business that might not have been entirely ethical
• Your extra-curricular activities - interests like coaching, volunteer work or adventure travel show you have positive attributes
• Your future focus - outline your career plan rather than dwelling on a job loss

She also mentions that, when there are more candidates than usual, it’s very important to follow instructions carefully and submit applications before the deadline - don’t give schools an excuse to discard your application from their large piles.

photo credit: Medmoiselle T

Paying for college is something that many students worry about. At the same time, parents all over the country are worrying about the same thing. If you are going to attend college in today’s day and age there is a very good chance that you will need to apply for some student loans.

Why are student loans more necessary today than ever before? One reason is that college is becoming more and more expensive as each year goes by. Simply put, most students, even with the help of their parents, cannot afford to pay for college with cash. If you can you should thank your lucky stars.

Should you take out a student loan for every last dollar of your tuition? While possible, you should try to avoid doing this. Instead, attempt to pay for some portion of your tuition via other methods such as cash, financial aid, grants, scholarships, etc.

Student loans are more common than ever because the cost of college is increasing, and the number of students attending is also on the rise. If you are a student looking to attend college in the near future you may have to obtain a few student loans to get by. And as a parent the same may hold true for you.

photo credit: bonimo

College students are notorious for spending money without thinking twice. This is why so many companies target this demographic. As a college student you need to have a budget in place from the first day you step foot on campus. And remember, setting a budget is only the first step. After that you must then follow through with your budget. Do you have what it takes?

If you are not sure of how to set a budget you can ask for the help of your parents. They can give you information on where to start, as well as how much money they will be supplying you with on a regular basis. Of course, to go along with this you also need to consider any income you will be brining in as well as your regular expenses such as books, supplies, food, etc.

College students who learn to budget early on will have a more enjoyable experience while in school. To go along with this they will be much better prepared for the real world when they finally walk across the stage to receive their diploma. Are you a college student without a budget? If so, you should change this at once.