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Posted
Aug 04 2009, 09:00 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
The Post-9/11 GI Bill that took effect with much fanfare will provide many veterans and military members with expanded educational opportunities.
Contrary to some reports, the older Montgomery GI Bill isn't going away with the advent of the new bill and, in some cases, may still be the better option. But for many, the new law will cover the full cost of a college degree.
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Posted
Jul 20 2009, 11:11 AM
by
Karen Datko
Rating:
Money Blog: Smart Spending Blog - MSN Money
This guest post comes from "vh" at Funny about Money.
Tina, my associate editor on the day job and my moonlight business partner, sent a link to this interesting discussion. The main post itself has several links to relevant, equally interesting posts and conversations.
Given the astonishing burden of student loans that too many young people are saddled with -- my son's roommate's girlfriend, for example, remarked that she will graduate from a top-quality institution with a master's degree in international business and $1,400-a-month student loan payments -- assessing the "value" of graduate education is not a crass or pointless exercise.
It's well and good to love learning for learning's sake and so to feel that the graduate school experience is irrelevant to one's vocational prospects. However, once that graduate school experience ends, you still have to pay for it. You still have to keep a roof over your head, put food on your table, and foot the considerable cost of raising a family. When young people are saddled with five- and six-figure student loan debt, they should reasonably expect the financial investment in graduate education to pay off with jobs that will support them.
That, unfortunately, is too often not the case.
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Posted
Aug 07 2008, 06:17 PM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Chances are Mom and Dad don't have what it takes to spring for the entire cost of your college education. That doesn't necessarily mean you'll finish school with a mountain of debt. Plenty of information can be found online about limiting your spending and your debt while pursuing a higher education. Luckily, "Broke Grad Student" volunteered to be a human filter and come up with the good stuff.
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Posted
Dec 10 2007, 02:41 PM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Mighty Bargain Hunter writes about a family he knows with lots of kids, "somewhere between 'The Brady Bunch' and 'Cheaper by the Dozen.'" How will the parents pay for their children's higher education? They won't. Once the kids reach 18, they're on their own, and they've been told, so they won't be surprised.
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Posted
Nov 19 2007, 11:04 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Mighty Bargain Hunter takes on the notion that money should be your overwhelming concern when you're picking your college major . We're glad MBH did. Young people too often get advice to go with the bucks and not pursue their dreams. MBH is all for dreams, but believes people should not ignore the financial implications of their choices , and suggests you do a cost-benefit analysis before you proceed. In other words, what do you want in life and what are the choices you face to help you get there? MBH presents some specific questions to consider, whether you're thinking about English or some other major. But, in MBH's words, it all comes down to this: "Advice is almost never one-size-fits-all, and certainly choosing a major is not one-size-fits-all. But there certainly are better choices for us individually, and it’s up to us to figure them out for ourselves."
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Posted
Nov 07 2007, 11:10 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Why apply for only one scholarship when you can apply for 60? Ramit Sethi of I Will Teach You To Be Rich offers a primer for finding and getting lots of college scholarships . Many high school students don't make the effort, so they're out there for the taking . Apply for every relevant scholarship identified by career centers at your high school and others, in scholarship books at the library, and by family members whose employers sponsor free money for school. Write essays with a message that goes beyond "pick me because I'm smart" (after you write several, cutting and pasting will be breeze), prep your references so they're ready to emphasize your strong points, and sit back and wait for the interview offers to roll in. Ramit, a recent Stanford graduate, pursued scholarships with his usual entrepreneurial gusto: "When I was in high school, I ended up applying to about 60 scholarships -- all from my career center -- and got a bunch of money for school."
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Posted
Nov 05 2007, 07:40 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
This likely is a dicey question right now in a lot of households. Do parents get to pick which colleges their child applies to, particularly if Mom and Dad will be paying the way? Grad Money Matters examines this question in a thought-provoking post that focuses on a co-worker's dilemma . Her daughter wants a fine-arts degree from a big party school. Mom is worried that her daughter won't end up with a lucrative career . They've reached a compromise: The daughter will study computer animation at the college of her choice, as long as it covers half the tab with financial aid. GMM agrees with this solution: "I believe that if the parents are paying for the education, they have every right to set some ground rules."
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Posted
Oct 17 2007, 08:29 AM
by
Karen Datko
Money Blog: Smart Spending Blog - MSN Money
Chief Family Officer recently paid off her private student loans and is now knocking off her lower-interest Stafford loans. Her secrets are simple and effective . Among them: Pay on time, use automatic withdrawal, and pay more than the minimum due. Make additional payments when you have extra cash, and follow up to make sure the lender is using them to reduce the principal. One of her lenders routinely ignored its own policy and applied the extra money to her next scheduled payment unless she got on the phone or sent e-mail.
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