Wednesday, May 19, 2010

After high school, is a college degree needed?

Graduating high school and going off to college is on the minds of millions of students as graduation nears. A good many will start college and not finish. Some will get a bachelor's degree, and not use it. The question is, do you really need a bachelor's degree to get a good paying job?

Getting a college degree is expensive. Most students will graduate with a load of student debt. Not a good way to start off life. You need to think hard if your college degree will pay off. Just having a college degree does not mean a high paying job.

Consider these facts.

Half of the students starting college will not finish in 6 years or less. That means lot's of debt, no degree.

The majority of jobs that are growing do not require a college degree, or at not a bachelor's degree.

Accounting is a growing field that does indeed need a bachelor's degree. So does the job of a college professor. If that's not for you, think of the following.

Registered nursing is growing fast. You can become a registered nurse with a bachelor's degree, or even a 2 year degree. You could also go a step down to a licensed vocational nurse.

If even that's a lot of schooling for you, home health aides are also growing. Not much schooling is needed.

The service sector also is growing. Like department and other retail clerks. No college whatsoever. And you can go up the ladder.

Public schools do not really like to push vocational programs. For some reason, they push college. The fact is, most students will not finish college or need it. Schools need to do a better job of encouraging vocational trades.

If you go to college for 4 years, whether you graduate or not, you have spent a small fortune. If this does not get you anywhere, you now are 4 years older and out of the job loop.

If you choose to start college and are in a degree program where jobs are low paying and or scarce, you need to rethink your future plans.

Keep in mind that deciding to not go to college is against the current grain. It will be up to you to convince people that it is a wise choice. Do your research.

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Wednesday, May 12, 2010

Student Loans: Must be repaid, can hurt your credit.

When you get a student loan, you are agreeing to pay it back. Many of you have student loans with private banks and lending institutions. If you fail to make payments, you will have your credit score hurt.

You have little chance of ever making a student loan go away by ignoring payments. Bankruptcy normally does not cancel it. There is no time limit for collecting this debt. Chances are good this debt, if it remains unpaid, will follow you all your life.

However, there are some things you can do to remain credit worthy and maintain good standing on your student loan.

You can negotiate your total owed as well as payments. If you can pay a decent sum in one payment, you may have a better chance.

If your loan goes to a collection agency, you have the right to get them to stop contacting you. Write a letter that says cease all collection activity. What this will do is stop harrassing phone calls, but they can still go on with debt collecting by going to court.

Try and negotiate lower payments and make a good faith effort to pay. If you pay for about a year, chances are your credit will improve. This is a good tip to save your credit as well. If you have made all payments and are current, you may have a better chance of getting a lower payment, thus saving your credit.

There are new income based guidelines that may lower your payments depending on your income.

Always remember that a student loan is a debt. If you have trouble making the payments, you probably have money troubles. Make working on your finances a top priority.

Do some student loan consolidation.


Get help before you default!

Call 1-800-4-FED-AID if you feel you need help in getting help with repaying a loan.

You should also visit http://www.ombudsman.ed.gov/ for help with student loan collection agencies.

>>College Money Help.

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Sunday, May 2, 2010

Still short on college money? Try these tips.

There are many deadlines that scholarships, grants, and even your college have. No way around those. But there are still ways of getting money for college even if you are late or missed a deadline.

You can fill out the FAFSA at anytime after January and through the coming school year. And even if you miss out on other money, you can still borrow almost $6,000 from the federal student loan program.

The job market is tight, but earning money for college is always an option. Check around. As a college student, don't worry too much about the kind of work, just that it's work and earning you a paycheck. You've got all summer to earn come college cash. 5 jobs college students can get now.

You should think about cutting your expenses--now and when you get to college. Not spending money is money saved for college. 30 tips to save money in college.

Contact the financial aid office at your college. Tell them you are late, but could really use some help. Sometimes they have funds kept in reserve or get new money. It will not hurt to ask. They may even have a student loan program of their own for emergency cases. Remember, it is in their best interest to keep you in their college. Can't pay your full tuition now? Many colleges will let you make monthly payments.

Have you taken a look at what your financial aid award is? Are you unhappy with it? Do you have other circumstances that cut into your financial position? You can ask the financial aid office to allow you to appeal. College Financial Aid Secrets.

There's no shame in asking your family for more money. If they are worried that you'll spend it, see if the college will set up an account or put the money towards your future expense. This is great if you have a birthday coming up! If you are graduating high school, put all money aside!

If you indeed realize you are late and are struggling, you now know what it will take for you to not go through this same ordeal next year! Start the college year off with no money worries.