As anyone who has stepped foot on a college campus knows, money is definitely a cherished yet limited resource. Depending on the generosity of your sponsors, also known as parents, you are constantly under the hammer, struggling to pay tuition, eat, live, sleep, and pay for the gas that gets you to and from work.

All of these holes poked into your money bowl can deplete the contents of the bowl rather quickly. So needless to say, after feeding the hungry mouths of these financial termites, we barely have enough left over to buy toilet paper.

Although difficult, we still manage to make all the ends meet, but considering the recent trend of rising textbook prices, it appears that making these ends meet in the future will become an impossible feat. Should there not be a system to help out the ambitious “little guy?”

The price of college textbooks is outrageous. The cost of books has risen more than the rate of inflation or the cost of tuition over the last decade. UWG students say they pay an average of $500.00 on textbooks in a single semester. (more…)

CHARLOTTE — Community college students are facing greater challenges than their peers at universities, according to a new report released Tuesday.

Fifty-eight community colleges are nestled in cities and towns across North Carolina. Students choose those smaller colleges for many different reasons.

“To save money,” said King’s College student David Jones.

“They give you personal attention,” added Central Piedmont Community College student Rabaka Jada.

But along with the good, comes the bad.

“I didn’t feel comfortable in the classes I was in,” said King’s College student Lauren Crisp. “I felt like I was wasting my time.” (more…)

Tuition costs are climbing, housing costs are climbing, it seems like all the costs for students are climbing these days. Students can afford cost increases less than any other demographic in Canada. Because of this, parents and students alike are looking for new ways to offset the costs of education.

Student loans can be used to defer these costs to some extent, but they need to be repaid after graduation. Its difficult to climb the corporate ladder or get ahead in life when you have $30,000 worth of debt before your first job is even found!

Bursaries, grants, and scholarships are another great source of funding for a student. However, the amount of money available is thinning, and the competition is growing stiffer for this money each year.

The average student, over a 4 year degree, pays over $16,000 in tuition and books. Housing costs approximately $38,000 for a 4 year degree. This is based on rent of $800 per month for 48 months.

This means the total cost of education for a student is over $54,000 before paying for any clothes, food, or recreational expenses. Given that the average student doesnt qualify for more than about $9000/year in student loans, this means an average student needs to find over $18,000 during their 4 year education career to be able to go to school. Not to mention the cost of food and clothes. (more…)

Despite Pressure, Borrowers May Be Better Off Waiting With the Federal Reserve’s recent rate cuts, borrowers may be better off waiting until July 1 to consolidate their variable-rate federal student loans, although they may be feeling pressure from lenders to consolidate their loans today.

Recent graduates often opt to consolidate their loans before the end of their six-month grace period to lock in rates at the lower in-school interest rate, which is 0.60 percentage point lower than the repayment rate. For example, borrowers with variable-rate Stafford loans, which have a current repayment rate of 7.22%, could lock in a fixed rate of 6.625% if they consolidate loans within their grace period.

But if they wait until July 1, when interest rates on variable-rate federal loans reset, borrowers with Stafford loans would likely be able to lock in a consolidated rate of 6.5% or lower, says Mark Kantrowitz, publisher of FinAid.org, a financial-aid Web site. The lower rate should even compensate borrowers for having to pay the higher repayment rate of 7.22% at nine months until they consolidate — a cost that will result in about $20 for the typical student over that period, Mr. Kantrowitz estimates. “The net cost to them over the life of the loan will be lower if they wait to consolidate.” (more…)

To make student life a trouble-free phase with only education as the main concern rather than monetary problems, there are various student loans available these days that are supported by the federal government.

The federal government student loan consolidation program will consolidate together all the loans of the student into a single student consolidation loan and reduce the hassle of payment to multiple lenders. This will also save the money of the student and help him concentrate specifically on his studies.

Learn More About Federal Consolidation Student Loan

The support of the federal government permits a student to extend his terms of payment. In case an individual has indebted Stafford loans, he or she has a variable rate of interest, which is adjusted annually. If he opts for consolidation, the student has an alternative to lock it at a lower interest rate along with various offers that will not charge any fee. (more…)

There may come a time when you will elect to stop working or you decide to retire based on other factors. The time to plan and prepare for the event cannot be started early enough. In study after study the majority of Americans retire with little more than Social Security and a small pension.

This is a sad fact considering the variety of retirement, investing and saving vehicles that are available.

There are before-tax and after-tax retirement saving and investment programs. In both the government becomes your partner in adding available resources to whatever programs are most advantageous for you and your family. The money can be added in a before-tax plan like a 401k (you pay less current federal income taxes) or after-tax like in a Roth IRA. (Your investments grow over the life of the plan and when withdrawn all the money is free of federal income taxes.)

Retirement and financial planning can never start too early. The best plans also happen to be those that are simple to follow and set up and easy to manage and keep score. If your financial situation gets beyond your ability to handle by all means search out professional help. (more…)

Loans are not as easy as scholarships and grants. It becomes a responsibility for many years after you graduate until you pay off the debt. And that’s why it is very vital for you to study the student loan payment plans and options when you are looking for a loan. You should always go for the best, which does not burden you with very high interest rates and heavy payment methods.

Regardless of what kind of loan you have, most of the times the student loan payment starts six months after you have graduated, or after you have gotten a job in many places. What most people are not aware of is that sometimes there might be better options for you to properly pay off the loan without burdening yourself.

Various Payment OptionsIn a common student loan payment, you basically pay the same amount every month, for a certain period of time assigned in the loan agreement previously. This period can be anywhere from five to 15 years.


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As we approach the end of another year, now is a good time to take a close look at household expenses to see if there are places you can cut back and save. If you’re like most people, one of your biggest areas of concern is what you’re paying for health insurance.

As health and medical costs continue to rise, many companies are either passing increased expenses along to their employees, cutting back on benefits or eliminating coverage altogether. According to the U.S. Census, in 2005, 46 million Americans were uninsured. A recent survey found that 64 percent of Americans decided to go without coverage because health insurance is just too expensive.

Realizing there’s been a significant shift in the industry due to added cost, many insurance companies are now offering affordable policies with great coverage that individuals and families can buy on their own. Among the most popular self-insured products available: (more…)