Guest Post from Alisa Johnson, blogger at collegedegrees.com
It’s not a great time to be a student, especially if you were hoping to get a good job in a field that you love on graduation. In fact, it’s not a good time for anyone who does not have a job or who’s in one with little security. It’s worse when you’re in college, because you have a mountain of debt in the form of student loans, debts that you were hoping to clear with a well-paying job. Now that the recession is upon us, the possibility of not being able to gain gainful employment could be weighing heavily on your mind, and you’re at the risk of doing badly in college because of this added stress. When the field is loaded against you, there’s nothing else to do but play to your strengths, and you can do this by:
Although it may not seem to be much of life when you have to settle for what you get rather than what you want, the alternative is much worse. And as long as you maintain a positive outlook and keep yourself out of the claws of debt, it doesn’t matter that the world is in a recession, you’re still going to survive.
Alisa Johnson writes about grants for graduate school at collegedegrees.com. She welcomes your feedback at Alisa.Johnson1982 at gmail.com .
It’s not a great time to be a student, especially if you were hoping to get a good job in a field that you love on graduation. In fact, it’s not a good time for anyone who does not have a job or who’s in one with little security. It’s worse when you’re in college, because you have a mountain of debt in the form of student loans, debts that you were hoping to clear with a well-paying job. Now that the recession is upon us, the possibility of not being able to gain gainful employment could be weighing heavily on your mind, and you’re at the risk of doing badly in college because of this added stress. When the field is loaded against you, there’s nothing else to do but play to your strengths, and you can do this by:
- Focusing on the present: It’s not wise to fret about the future and end up losing what you do have in the present. So for now, even though the job situation does look bleak, focus on your grades and your current life in college instead of worrying about your job prospects and messing up your grades and other things that are going well for you right now.
- Minimizing your debt: You can do this by taking a part-time job, something that will help minimize the burden of your student loans. Even after you get out of college, instead of waiting interminably to get the job that you want, take any job you can get so that your debts don’t pile up and become overwhelming.
- Reducing spending: And by that I mean on the unnecessary stuff. You need to know where your priorities lie, so stop using your credit card unless it’s absolutely necessary. If you’ve already run up a huge bill, transfer your balance to a zero interest card (for a limited period that you can use to pay off the amount). In short, tighten your financial belt before it becomes a noose around your neck.
- Looking to campus placement programs: These are still your best bet at securing a job straight out of college. Instead of holding out for the job of your dreams, apply for anything that sounds good, and if you’re offered a position, hold on to it for the financial security.
Although it may not seem to be much of life when you have to settle for what you get rather than what you want, the alternative is much worse. And as long as you maintain a positive outlook and keep yourself out of the claws of debt, it doesn’t matter that the world is in a recession, you’re still going to survive.
Alisa Johnson writes about grants for graduate school at collegedegrees.com. She welcomes your feedback at Alisa.Johnson1982 at gmail.com .
Did you know that April is Financial Literacy Month? It's a great reason for everyone to take a few minutes and learn more about keeping their finances in order, and it's especially important for college students, parents and counselors to take a good look at the costs of school.
Fortunately, there are some excellent resources out there, including these two:
• NASFAA, the National Association of Student Financial Aid Administrators, has an ongoing Financial Literacy Month series at their Web site, nasfaa.org. This week's entry is on Responsible Borrowing; that link contains fact sheets on the financial benefits of higher education, as well as guides to when it's okay to borrow, how to find tax credits, the appropriate debt levels for various majors and much more. Check it out for an excellent overview.
• The America's Promise Alliance is offering, for free download, its "$aving Our Futures: Financial Responsibility for Young People" curriculum. Teachers and after-school leaders can access the PDF textbook of "$aving Our Futures" here, and marketing and presentation materials are available here.
• And, of course, Scholarship America and the National Endowment for Financial Education have made our "40 Money Management Tips Every College Student Should Know" brochure available in a new edition. Click here to download the PDF.
What other tools do you have for helping students and families manage their money? Let us know in the comments.
Fortunately, there are some excellent resources out there, including these two:
• NASFAA, the National Association of Student Financial Aid Administrators, has an ongoing Financial Literacy Month series at their Web site, nasfaa.org. This week's entry is on Responsible Borrowing; that link contains fact sheets on the financial benefits of higher education, as well as guides to when it's okay to borrow, how to find tax credits, the appropriate debt levels for various majors and much more. Check it out for an excellent overview.
• The America's Promise Alliance is offering, for free download, its "$aving Our Futures: Financial Responsibility for Young People" curriculum. Teachers and after-school leaders can access the PDF textbook of "$aving Our Futures" here, and marketing and presentation materials are available here.
• And, of course, Scholarship America and the National Endowment for Financial Education have made our "40 Money Management Tips Every College Student Should Know" brochure available in a new edition. Click here to download the PDF.
What other tools do you have for helping students and families manage their money? Let us know in the comments.
Heading to college? One of the first things you should learn -- and one of the things that often gets lost in the rush of admissions and financial aid and finishing high school -- is how to manage your money. Financial education basics can go a long, long way in making sure you or your student gets the most out of college while avoiding the traps that often leave students debt-ridden even before they graduate.
Scholarship America and the National Endowment for Financial Education recently published an updated edition of 40 Money Management Tips Every College Student Should Know, which covers everything from cutting expenses to building credit to making sure you get the most out of your school's room and board. It's a quick read, an excellent tool, and as essential to have around as a backpack and a bike lock.
To download the PDF of 40 Money Management Tips, you can head over to the appropriate section of NEFE's site, smartaboutmoney.org, and check out some of their other offerings while you're there. You can also download it directly by clicking here.
Scholarship America and the National Endowment for Financial Education recently published an updated edition of 40 Money Management Tips Every College Student Should Know, which covers everything from cutting expenses to building credit to making sure you get the most out of your school's room and board. It's a quick read, an excellent tool, and as essential to have around as a backpack and a bike lock.
To download the PDF of 40 Money Management Tips, you can head over to the appropriate section of NEFE's site, smartaboutmoney.org, and check out some of their other offerings while you're there. You can also download it directly by clicking here.
09/06: Stressed Students
As Anne Applebaum points out in Slate, high school students are stressed like never before. Between high college costs, increasingly competitive admissions and the balance of work, school and social life, juniors and seniors have more on their minds than even their older siblings or cousins from less than a generation ago.
If you're a student or a parent stressing out about upcoming educational milestones, check out Scholarship America's Application Tips and other Student Resources, which can help you find scholarships, find advice and make sure those applications stand out. The application process is hard, and we're here to help.
We'd also love to know your tips and tricks for beating stress -- if you're applying to college, applying for scholarships or helping students yourself, leave us a comment and let us know how you keep things in perspective!
If you're a student or a parent stressing out about upcoming educational milestones, check out Scholarship America's Application Tips and other Student Resources, which can help you find scholarships, find advice and make sure those applications stand out. The application process is hard, and we're here to help.
We'd also love to know your tips and tricks for beating stress -- if you're applying to college, applying for scholarships or helping students yourself, leave us a comment and let us know how you keep things in perspective!
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