Alright - I'm a Canadian - so why would I bother writing about the presidential debate tonight in the United States? The answer is that 90% of the readers of this website are from the U.S. President Obama and Mitt Romney will be debating domestic policy tonight - and I bet the subject of students comes up at least once or twice.
From what I can see from my vantage point just across the border - Barack Obama is the better choice when it comes to policies and ideas for helping students get through these days of skyrocketing tuition and skyrocketing student debt. Heck - Romney said a couple of weeks ago a good strategy for students to help pay for college was to go ask your parents for the money! Really!?
I may, or may not, watch the debate tonight. It will probably be the only one that touches on the subject of education. I can't wait to see what they each say and what students and parents think about what they said. Let the games begin! Cheers!
Showing posts with label student debt. Show all posts
Showing posts with label student debt. Show all posts
Wednesday, October 3, 2012
Wednesday, June 20, 2012
Go Ahead - Borrow For College!
I've just finished reading an interesting article on money.com regarding student debt. The authors - two economists - argue that students should ignore all the hype and go ahead and borrow whatever they need for their college education. Overall - I think I have to agree with them - but with an explanation.
As the authors state - numerous studies have shown that college educated workers earn hundreds of thousands of dollars more in their lifetime compared to their non-college counterparts. They are more likely to have health care plans and retirement funds - which is good because they also live longer. So the proof is out there that having a college education pays off in the long run.
Any of you who have read this blog in the past may have the idea that I am totally against the idea of borrowing money for college. I am not naive enough to think that every potential college student is going to be able to save up enough money, or get enough scholarships, to pay for their entire post-secondary education. With the skyrocketing cost of tuition and other college related expenses. it is virtually impossible not to need some sort of outside funding to pay for it all. But this is where being a Money Smart Student comes in.
My advice is to take steps to minimize the amount that needs to be borrowed. I've posted many articles on the subject so I won't get into the details here. There are hundreds of ways students can save money before heading off to school, and spend less money once they get to college. *Shameless Plug* - Just get my book - 'How To Be A Money Smart Student' - and you'll find a multitude of ways to reduce how much money you will need to borrow to make it through to your degree.*End Shameless Plug* There are also numerous websites available - all with the sole purpose of helping new college students survive financially. Some of my favorites are listed over on the right side of this page.
So overall - go ahead and look at what you need to borrow for college. Just do everything you can to keep the student loan debt as low as possible. Cheers!
As the authors state - numerous studies have shown that college educated workers earn hundreds of thousands of dollars more in their lifetime compared to their non-college counterparts. They are more likely to have health care plans and retirement funds - which is good because they also live longer. So the proof is out there that having a college education pays off in the long run.
Any of you who have read this blog in the past may have the idea that I am totally against the idea of borrowing money for college. I am not naive enough to think that every potential college student is going to be able to save up enough money, or get enough scholarships, to pay for their entire post-secondary education. With the skyrocketing cost of tuition and other college related expenses. it is virtually impossible not to need some sort of outside funding to pay for it all. But this is where being a Money Smart Student comes in.
My advice is to take steps to minimize the amount that needs to be borrowed. I've posted many articles on the subject so I won't get into the details here. There are hundreds of ways students can save money before heading off to school, and spend less money once they get to college. *Shameless Plug* - Just get my book - 'How To Be A Money Smart Student' - and you'll find a multitude of ways to reduce how much money you will need to borrow to make it through to your degree.*End Shameless Plug* There are also numerous websites available - all with the sole purpose of helping new college students survive financially. Some of my favorites are listed over on the right side of this page.
So overall - go ahead and look at what you need to borrow for college. Just do everything you can to keep the student loan debt as low as possible. Cheers!
Thursday, January 5, 2012
Is Grad School Worth The Extra Debt?
If you're entering a field of study which will most likely lead to grad school once you've finished your undergraduate degree, there is a new study out of Georgetown University you should read about.
The study looked at the additional cost of various majors as compared to what that graduate degree means in terms of extra income in your new field. Some of the results surprised me even. Some grad school graduates made less than 1% more than undergrads starting in the same field. But a few made over 100% more than undergrads in their field just starting out.
The details can be found in the following article I found at dailyfinance.com.
Grad School Math: Which Degrees Are Worth The Debt?
While it's still a smart idea to try and have as little debt as possible once you're finished school - spending that extra money for certain grad programs may actually be worth it in the long run.
The study looked at the additional cost of various majors as compared to what that graduate degree means in terms of extra income in your new field. Some of the results surprised me even. Some grad school graduates made less than 1% more than undergrads starting in the same field. But a few made over 100% more than undergrads in their field just starting out.
The details can be found in the following article I found at dailyfinance.com.
Grad School Math: Which Degrees Are Worth The Debt?
While it's still a smart idea to try and have as little debt as possible once you're finished school - spending that extra money for certain grad programs may actually be worth it in the long run.
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