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Living on campus is almost a necessary rite of passage for the college freshman. “Don’t miss out on the full college experience!” you’re warned, enticed with stories of spacious dorms, fantastic parties and few rules. Sure, living in the dorms can be fun, exciting and new but it also has it downsides: expensive room and board fees, a mandatory meal plan with food usually not worth the cost, lack of privacy or the risk of a bad roommate. Being a commuter student, on the other hand, isn’t as difficult as it seems: Your school probably has commuter lockers if you have a lot of books, packing a lunch is cheap and quick and carpooling is an efficient way to travel with friends.

I lived on campus for my first two years of school and experienced all the downsides listed above to varying degrees so this year, I am living at home and commuting. In some cases, the pros and cons were obvious. Did I want to pay thousands for a meal plan rather than eat with my family for free? No. Would I rather share a small space with three girls instead of having my own familiar bedroom? No. But would I like to be closer to campus than have the 40-minute commute I now have each day? Yes. I was reluctant to commute at first but I found that the time spent would be made up for and then some by the money I would save. If living at home for a year or two is an option for you, consider it! You’ll save money that you can put toward paying off any student loan debt or – who are we kidding – buying stuff you actually want when you want it.

If a long commute doesn’t interest you but you’re still looking to live off campus, it’s not too late to begin the apartment search. It is possible to find a nice place with affordable rent: College towns often have complexes with student budgets in mind. Splitting rent is an easy way to keep costs down and this time you get to choose your own housemate!

When you live off campus and commute, your time feels more like your own and it doesn’t have to revolve around what’s going on at school. If you’re feeling the itch to leave campus, check out your options and see what’s best for you!

Mary Steffenhagen is a junior at Concordia University of Wisconsin who is majoring in English with a minor in business. She hopes to break into the publishing field after graduation, writing and editing to promote the spread of reliable information and quality literature; she is driven to use her skills to make a positive impact wherever she is placed. Mary spends much of her time making and drinking coffee, biking and reading dusty old books. In an alternate universe, she would be a glassblower.

As my bio states, I am a Spanish major...and I love it! If you’re considering majoring in a foreign language, here are some helpful tips:

• It’s time intensive. Foreign languages are about memorizing and practice, practice, practice. If you aren’t willing to put in time – and a lot of it – this may not be the path for you. Also, professors like to assign many small tasks with intermittent bigger ones so if you’re one to only focus on the big pictures, you’ll be challenged with what you might think is ‘busy work’. (It’s not, though...it’s crazy useful.)
• You should study abroad. I highly recommend a language-intensive study abroad for anyone majoring in a foreign language. (Side note: Wofford’s Foreign Language Department is now called Modern Languages because “Foreign” was too alienating and encouraged a cultural divide. Just some food for thought...) I loved studying in Chile for a semester and knowing Spanish definitely helped. Also, studying abroad is essentially required to major in another language at many colleges and universities: I know Wofford’s program helped me tremendously and it also wound up being cheaper than a semester on campus!
• It’s incredibly helpful in life. I know that because I’m bilingual, I’ll be more desired in the job market (some jobs more than others), but it also helps with learning other languages. Similar to computer languages, once you know one, the others become easier to learn.
• It’s a one-stop shop. Language courses cover history, humanities, public speaking, writing, team-based work as well as the actual language you are learning. Hate talking in front of crowds? Work on that but also present in another language. Not the best in research? Now work on writing a huge thesis in Spanish (at least I did when in Chile). Overall, the language aspect is the bare minimum of what you learn or accomplish. Being a foreign language major makes you into a well-rounded, practiced individual with skills that many graduates won’t get from other majors.
• It broadens your world view. As a foreign language major, you learn very quickly that the United States isn’t everything and that the world needs its diversity and cultural mix to work and function. Foreign language majors have wider scopes than most people and a leg up on the competition in all aspects of life because they can view problems with more open minds and approach challenges from different angles.

So I urge you to consider a major (or even a minor) in another language. You won’t regret it: They’re easy to double major with and you’ll emerge a better person!

Mike Sheffey is a senior at Wofford College double majoring in computer science and Spanish. He loves all things music and photography. Mike works for an on-campus sports broadcasting company as well as the music news blog PropertyOfZack.com. He also works with several friends to promote concerts and shows in Greensboro, NC. He hopes to use this blogging position to inform and assist others who are seeking the right college or those currently enrolled in college by providing advice on college life, both in general and specific to Wofford.

‘Tis the season for discount digging. With the holidays just a mere two weeks away, many people have gift-giving on the brain so it should come as no surprise that everyone’s on the hunt for rock-bottom prices. And whether you’re in the market for a new textured wrap sweater (who isn’t?!), the latest Apple gadget or even a shiny new law degree, you’re in luck! Yup, that’s right future litigators: Law school is officially on sale in Iowa.

The University of Iowa College of Law has approved a 16.4-percent tuition cut for both in-state and out-of-state students. Beginning in the fall of 2014, Iowa residents will pay $21,965 in tuition – a $4,309 reduction – while nonresidents will see tuition fall by $7,750 to $39,500. Why the discount? Turns out that despite being ranked 26th nationally by U.S. News & World Report, enrollment for the law school has steadily declined since 2010. Law Dean Gail Agrawal admits that the tuition reduction is intended, in part, to help the law school compete for applicants and students who are increasingly concerned with cost and debt loads. “We want to take a leading role in the evolving face of legal education and ensure our place as a best value proposition among the top public law schools,” she said. Keep in mind that the University of Iowa isn’t the only law school bargain out there: The University of Arizona’s James E. Rogers College of Law, the University of Akron School of Law, the University of Cincinnati College of Law and Ohio Northern University’s Pettit College of Law have all announced tuition cuts in the past year.

Law school hopefuls, is discounted tuition enough for you to consider a school despite the current weak legal market? Let us know your thoughts in the comments section.

Immigration disputes have long commanded top billing when it comes to our nation’s political agenda but as of late, it’s begun seeping into the educational realm as well: The state of Arizona has filed a lawsuit to block one of the nation’s largest community college systems from providing in-state tuition to young immigrants granted deferred deportation by the Obama administration.

Arizona officials insist that extending reduced tuition to those youths violates state law, which prohibits any immigrant without legal status from receiving public benefits. Meanwhile, college officials argue that lower rates were instated in September after concluding that work permits were already on the state’s list of documents needed to prove legal residency. With potentially thousands of individuals in limbo, the Arizona Board of Regents is looking into ways to lower tuition for these students without violating state law. Board members sent a letter to Arizona Senator John McCain and Senator Jeff Flake that, in part, read, “With Arizona at the forefront of the immigration reform debate, we routinely hear from hard-working, high-achieving undocumented students who have been brought to Arizona at a young age and have advanced through our K-12 system only to have their ability to further their education and contribute positively to our economy and society hindered by state and federal immigration laws." (For more on this story, click here.)

At least 13 states allow students who have lived in the county for many years without legal status to pay in-state tuition so what do you make of Arizona’s legal action to put an end to it? Do you support the decision or oppose it? Let us know in the comments section.

The Illinois State University Center for the Study of Education Policy released its annual report on state tax support for higher education today.  According to the Grapevine report, the best case scenario is that for fiscal year 2008-2009 (July 1, 2008-June 30, 2009), state higher education spending grew by an average of 0.9 percent across the country.  The report acknowledges this figure is likely rather optimistic, as many states are still in the process of trimming budgets for the current fiscal year, and some are requesting that colleges not spend appropriations they've already received.

While almost flat growth in state spending nationwide is bad enough, the picture looks even worse compared to last year's growth of 7.5 percent, the largest year-to-year increase in higher education spending since 1985.  Some states have cut education spending significantly, such as South Carolina and Alabama, whose state education budgets have seen decreases of 17.7 percent and 10.5 percent respectively.  Some states still are showing substantial increases in higher ed spending for the current year.  The two biggest increases, in Wyoming and Hawaii, are 10.9 and 10.6 percent.

Coupled with shrinking endowments and more student requests for financial aid, this news isn't good for state colleges and universities.  Tuition increases, including some substantial ones, are becoming increasingly likely for 2009-2010, despite families' increasing inability to pay for school out of pocket or access lines of credit such as private student loans.  This is yet another reason to fill out a FAFSA and do a scholarship search today.

While the focus for many students right now is planning for and paying for the next year of college, some students are still struggling with bills from the current or previous semester.  An e-mail survey by the American Association of Collegiate Registrars and Admissions Officers reports a perceived increase in unpaid tuition bills in the 2008-2009 academic year.  While being caught short on one semester's tuition can seem stressful enough, it can carry serious consequences for college students.

For students with the funds to easily cover tuition, either through family income, college savings plans, or financial aid awards, the figure on their bursar bill may be unpleasant, but it is soon forgotten.  However, carrying a bursar balance--in some cases, even a small one--can cut off your ability to register for classes, request transcripts, and even graduate, among other consequences.  Students who are unable to pay for a semester by the school's deadline may even find themselves dropped from their classes and kicked off campus.  These consequences can essentially derail your education, and many students who take a semester off from college to save money and pay off bills never go back to finish.

Luckily, as Kim Clark stresses in an article on the subject in U.S. News and World Report, universities are willing to work with students to keep them enrolled and get their bills paid, especially in the current economic climate.  Many schools are establishing or adding to emergency loan and grant funds to help students stay in school.  Federal student financial aid is also still available mid-term.  You can still complete the FAFSA for 2008-2009 anytime before June 30.  Even if you've already applied for the current year, talking to the financial aid office could still come through big time, especially if your circumstances have changed. Federal grants, as well as some campus-based programs may be available to students whose family contributions have significantly dipped.  While Clark's article emphasizes the surprising success networking and asking family for donations can bring, conducting a scholarship search may be a safer bet. Most importantly, be sure to stay in communication with your school. You may have to deal with three different offices on campus, but don't get discouraged.  The process may be more streamlined than you'd expect.  It is possible to stay enrolled regardless of the financial troubles you're facing.

College and university endowments plunged an average of 23 percent between July 1 and November 30 in 2008, with many sustaining further losses since then.  While almost everyone who's been reading higher education news or attending college knows that endowments have dropped, the depth and the breadth of the damage has largely been left to the realm of speculation.

Endowment losses had become a hot topic at some schools, including the one my youngest sister attends, even before the release of this study.  Undergraduate students previously unaware that colleges even have investments are worrying about the (admittedly slim) chance of their schools' investment funds disappearing, taking their scholarships, their degree programs, or their favorite instructors with them.  While such drastic cuts have not been made, schools are facing very real struggles to preserve their staff, their services, and their endowments in the face of a still-deepening recession.

The extent of losses varies, as does the extent of reactions to losses.  Several universities have instituted hiring freezes, while others have resorted to layoffs or mandatory unpaid furloughs.  Brandeis University and the University of Pennsylvania have both made unpopular moves to cut budgets. Penn has done so by cutting 18 campus museum staff positions, and Brandeis has announced plans to close the institution's art museum entirely and sell its collection. Some state universities battling shrinking endowments and drastic cuts to state funds have been forced to look at double-digit tuition increases.

Still other schools are making almost opposite responses.  Some institutions are looking into freezing tuition or increasing it by small amounts, such as Princeton University, which has announced a tuition increase of only 2.9 percent for 2009-2010.  Others are hiring new faculty as planned or launching additional searches, hoping to attract stronger talent.  Many schools are also increasing student financial aid to help families hit hard by the recession.  Even schools making budget cuts are reluctant to touch financial aid, recognizing its importance.  However, fears remain that students who need money for college may be unable to find it from their schools.  Whether these fears are justified remains to be seen, though many hope that the proposed economic stimulus package will allow schools to continue to fully fund or even expand essential programs.

The loss in funding faced by state and community colleges this year may not be a one-time thing.  A report issued this week by the State Higher Education Executive Officers (SHEEO) indicates that state budget cuts to higher education made during recessions tend to become permanent.  With many attempting to eliminate multi-billion dollar budget shortfalls, cuts to education are almost certain to happen across the country, and based on data collected by SHEEO, they are likely to continue into the future.

Per-student state higher education spending peaked in 2001, when it hit the highest level in inflation-adjusted dollars since data was first collected in 1983.  A recession in 2001 prompted drops in education spending that continued until 2006, when spending began to grow again until 2008, though per-student funding did not return to 2001 levels before another recession interfered.

In response to cuts in funding of around 7 percent between 1998 and 2008 and increases in enrollment of around 25 percent over the same period, tuition revenue has risen 20 percent.  The report suggests this trend is likely to continue, with funding potentially falling off permanently and tuition hikes continuing as a result of this year's budget cuts.  Thus, the burden is passed on to already cash-strapped students and families, who are already facing the prospect of needing more student loans due to losses of income and declines in college savings plans.

The SHEEO expressed hope that the stimulus package currently moving through Congress might mitigate this effect.  However, the version passed yesterday by the Senate eliminated billions of dollars that would have gone to offset state budget cuts, so the positive impact on higher education could be less than is hoped.  Additionally, members of Congress have expressed frustration with rising tuition rates, especially given tuition's likelihood to continue to outpace increases in Federal Pell Grants, such as the new funding currently included in the stimulus.

Paying for college can be a struggle.  Nobody wants to repay student loans forever, not everybody is going to land a full-tuition scholarship, and federal student financial aid seldom takes care of all college costs.  If you're a parent or relative looking ahead to cover college costs for a child, finding scholarships is a great step now, but you may also want to consider college savings plans.

Read below for information on 529 savings plans, which are one of the most popular and diverse options for college savings.  If this is not for you, check back tomorrow for more information on other savings options.

529 Savings Plans While 529 plans have sustained average losses of 21 percent in the last year, they can still be a good idea, especially if you choose your plan carefully and have plenty of time to save.  Many 529 plans allow you to move your savings into a much more conservative portfolio when the student nears college, an option they're sure to publicize based on the recent behavior of the stock market.  While there are limits on how many changes can be made to a 529 plan per year, the plans are otherwise quite flexible and varied, so it's easy to find one that works for your situation. Plus, 529 plans can be taken out in the parent's name, rather than the student's, so they will only minimally affect a student's financial aid eligibility.

Additionally, contribution limits are high, income limits are nonexistent, minimum contribution requirements tend to be low, and many states offer a variety of incentives for residents who contribute to their plans.  As an added bonus, many 529 plans can accept contributions from anybody anywhere, not just the people named on the account, and several programs have been created to take advantage of this.  For example, some plans allow a portion of credit card purchases or purchases at certain stores to go towards a particular student's 529 plan.

Prepaid Tuition Savings Plans If you're hesitant about sticking money for college in the stock market with uncertain returns, another type of 529 plan is also gaining popularity.  Prepaid tuition plans allow families to contribute a fixed amount now in exchange for a certain portion of tuition being covered in the future.  Many states do this for their state colleges and universities, and the Independent 529 plan, which is accepted by over 200 private colleges, also fixes contributions to portions of future tuition.  Both of these varieties eliminate worries about tuition inflation, though if tuition actually goes down between now and when the student starts college, a prepaid plan might not be the most lucrative option.

The Down Side 529 plans do have drawbacks and limitations.  Money must be spent on education, and the expenses that qualify are limited to undergraduate tuition, fees, educational expenses like books, and now computers. However, if the student is enrolled at least half-time, money from a 529 plan can also go towards room and board, so even if your student earns a full-tuition scholarship, it's possible to still take advantage of 529 savings.  Money must stay in a plan for at least 3 years, so if you're saving for a college sophomore, you're out of luck with these.  However, you can transfer the unused portion of a 529 plan to another family member without incurring the heavy withdrawal penalties, and it may also be possible to use the funds towards graduate or professional school.

Plans also vary from state to state, so your state's plan might not have the best benefits for you, or might not offer as sweet a deal in terms of tax breaks or low fees as the next state over offers its residents.  Luckily, you can shop around among a variety of plans, including ones offered by several other states.

529 plans are not the only college saving option, though they remain the most popular and perhaps the most well-known.  Check back tomorrow for information on the rest of the pack.

Continuing our theme from yesterday, today's blog post centers on more options for saving for college.  Yesterday, we discussed 529 plans, popular college savings vehicles that have been battered by recent financial troubles.  If you're considering saving for college but are not sold on a 529 plan, the most common alternatives are discussed below.

Coverdell ESA. Coverdell Education Savings Accounts are similar to 529 plans in most respects, but do have their own benefits and drawbacks. Rather than being sold by a state, they are sold by banks and brokerages, which can charge their own management fees. Because there aren't any state ties, there aren't any residency limitations, though there also aren't any state tax breaks for enrolling in a Coverdell ESA.

Coverdell accounts allow more flexible investment options and unlimited changes to investments. They can also be used to pay for high school and elementary school expenses, in addition to college costs. Otherwise, the expenses Coverdell and 529 plans can be used for are roughly the same: tuition and fees, books and supplies, room and board if over half-time, and other qualified educational expenses.

One major limitation to the Coverdell ESA is the $2,000 annual contribution cap. This is the limit per account holder, not per contributor. Additionally, individuals must have an adjusted gross income of $110,000 or below to contribute, and $95,000 or below to contribute the full $2,000. Coverdell accounts are held in the beneficiary's name, so they can hurt the student on the FAFSA. They also must be used or cashed out by the time the beneficiary turns 30, and they go to the beneficiary no matter what, while 529 plans can be given back to the parent in charge of the account if the student chooses not to go to college.

Roth IRA. The Roth IRA, typically used as a retirement account, can also be used to save for school. As long as you're withdrawing contributions, rather than earnings, there is no penalty if you are using the money from your IRA for educational expenses. However, a college savings plan might be the better way to go if you're setting up an account specifically for your student (especially since contributions to a Roth IRA must come from income the beneficiary earned from working), and dipping into your retirement funds to pay for college is widely regarded as a less than ideal choice by financial experts. But if you choose to take it, the option is there.

UTMA. The Uniform Transfer to Minors Act allows assets to be given as gifts to minors without the establishment of a trust. While the options explored up to this point have been savings accounts or investments, UTMA covers everything, including property. An adult manages these assets in a custodial account until the owner reaches the age of 18 or 21, depending on the state. In the meantime, the funds in the account can be used to benefit the child, including taking care of educational expenses. Once the owner reaches the age of majority, the assets are theirs to use as they please. This can mean paying for school, or it can mean making less desirable financial choices.  Since these assets belong to the student, they would count against them for student financial aid.

Government Bonds. While typically regarded as the province of grandparents, government savings bonds (Series EE is the most common) are also an option for paying for college. Bonds can be purchased online or at banks, and redeemed later for cash. As opposed to stock market-based savings plans which can lose big during crashes, government bonds are going to continue to grow as long as there's a government to honor them. And if there's no longer a United States government, well, you might have more to worry about than paying for college.

Also, since no rules state that a savings bond must be redeemed for college costs, the money can be used towards paying off student loans, covering college living expenses...or partying it up during spring break in Mexico.

While EE Savings Bonds grow at a steady rate, they do grow very slowly. You're also limited to a purchase of $5,000 per calendar year. Since they're such a safe bet, they can be great gifts for high school students, but a market-based option might be a better way to grow savings and maximize returns for younger children.