Sunday, February 16, 2014

College Debit Cards

Many colleges are making financial aid available on a college provided debit card. The money may be more conveniently available to students. Many students are taking them up on this offer and using their financial aid right from the debit card. But did you know there are reasons to not do this?

College students need every dime of financial aid. Some debit cards provided by the college may charge you a fee if you actually use it as a debit card. You should be able to use it as a credit or check card, then there should be no fee. If you cannot do this, you should not be getting your financial aid on a debit card.

Did you know that the colleges are probably getting a bounty for each student they get a debit card to? The colleges do not actually run the cards. Private banks do. You are then dealing with a private bank.

You can avoid fees as well if you just withdraw cash to use from ATMs run by that bank. The problem is, there may not be these ATMs readily available to you at any given time. So if you need quick cash, you pay a fee to get it. That's not fair to college students.

You are better off getting the financial aid in a check that you deposit in your own account and use it the most prudent way.

But, be aware that even if you do the debit card, you still have the option of getting a check or deposited right in your own bank account.

Of course your bank might have fees as well, but those would be fees you are already paying and know about.

Before you jump at the convenience of financial aid on a debit card, look at how much it may cost you. It could be a few dollars, or add up to hundreds over your college stay.

>> How about a tuition-free college?

Wednesday, January 22, 2014

Iowa Law Students May Not Need to Pass Bar Exam

Law students who graduate in Iowa may not need to pass the Bar Exam under proposed legislation. Law graduates will be able to start practicing law, so long as they stay in Iowa. They still would be required to pass the Bar for whatever state they choose to move to.

Iowa law students would need to do a few more things before practicing law in Iowa. They will need to take an elective course in Iowa, as well as pass ethics and character tests.

Currently, Iowa law students must wait four months before taking the Bar exam.

These changes are to help struggling law students with debt, and allow them to get jobs sooner.

Iowa is also looking to change their Bar exam to UBE (Uniform Bar Exam) thet is good for 14 other states.

Iowa would not be the only state to allow law students to practice law without the Bar. Wisconsin has allowed their law students to practice in the state with the Bar exam for 75 years. So if you are thinking of being a lawyer, dreading the Bar, those two states are an option for law school.