December 28, 2011
If you are a recent college graduate, those student loans you haven’t thought about in four or more years are about to come calling...and collecting. While some students’ debt tallies are quite large, the amounts owed by others are much more manageable.
U.S. News & World Report has reported that the average amount of student loan debt (defined as money loaned to students from colleges, financial institutions and the government, not including parent loans) for a 2010 college graduate was about $25,000 but this number truly varies depending on what school a student calls his or her alma mater: For example, 2010 graduates of Alice Lloyd College have an average total indebtedness of only $3,108 and those from Princeton owe just $4,385, due in large part to more grants, scholarships and work study that do not require repayment. Here are all of the schools that made the top 10 and the average amount of student loan debt 2010 graduates incurred:
Does this information have you reevaluating your college plans or financial aid choices?
January 24, 2012
Although the spring semester is just barely here, it’s never too soon to start thinking about what you want to do during spring break. Just the thought of spending an entire week at a sunny beach with your friends is enough to make anyone start planning but the reality is that many of us might not be able to afford to squeeze some fun in the sun into our busy schedules. For those of us who will remain at home or school, there are several options to make spring break just as fulfilling as it will be for those students hitting the beaches.
Get some rest. It might sound boring but once the semester begins, you will find yourself wishing that you had time to catch up on your sleep. Doing so during spring break allows you to recharge your body so that you can make it through the rest of the semester.
Work ahead. By now, we all know how most professors like to set deadlines for big projects and papers for the end of the semester. Doing schoolwork over spring break may not necessarily be fun but you can save yourself a great deal of stress by working ahead. When the end-of-semester chaos hits in the form of finals and papers, you will be more relaxed knowing that you are ahead of the game.
Participate in an alternative spring break. Many schools offer alternative spring breaks to students so that they can spend the week volunteering for a good cause. Not only do you give back to a community in need but future employers will be impressed to see that you spent your spring break helping others. Even if your school does not have this option, you can still go out and volunteer on your own.
It’s never too early to start planning for spring break. If you plan wisely, you may have the chance to get some rest, work ahead on your homework, catch up with friends and volunteer at the same time while still managing to go back to school energized and ready to conquer the rest of the semester.
Jessica Seals is recent graduate of the University of Memphis, where she majored in political science and minored in English. She was the secretary of the Pre-Law Society, the philanthropy chair of the Phi Kappa Phi Student Council and a member of Professional Assertive United Sisters of Excellence (PAUSE), Golden Key Honor Society, Alpha Lambda Delta Honor Society, Sigma Alpha Lambda Honor Society and Black Scholars Unlimited. As she prepares for law school, Jessica will continue to tutor and volunteer in her community.
November 14, 2012
A college education is far from cheap but some students are able to graduate with far less debt than others. How? Scholarships and grants play a huge role in keeping expenses low but some institutions are lending a helping hand by revising their financial aid packages and educating their students on the importance of fiscal responsibility.
Davidson College, for example, instituted a “no loans” financial aid policy in 2007 and now addresses need through grants and student employment. Others, like St. John's College, Elizabeth City State University and the SUNY schools, are doing their part by providing tailored support services to students through graduation - the latter, in fact, have launched a system-wide effort to prevent student borrowers from defaulting on their loans by offering net price calculators and communicating early and often with borrowers.
You can read more about what’s being done to combat student debt here but we want to know if your college (or intended school) has similar initiatives in place. If not, what kind of services and information should they be providing regarding student debt?
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