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Happy Spring! The end of the year is getting close so don't get lazy! This is a critical time to boost grades before finals. In this Issue SAT/ACT Dates Next ACT: Apr 4 College Seminars Colorado Illinois Massachusetts Michigan Minnesota New York Pennsylvania |
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5 Ways to Save Money in College 
College students are prone to developing poor money habits. Mainly because they are finally on their own and think they know a thing or two, but financially they haven’t developed the skills that help them minimize costs. College is a very expensive time in a young person’s life with all of the living expenses and academic expenses. Here are some useful ways to save a little bit of money so things won’t be so tight throughout their college career. Textbooks can be extremely expensive for students. A lot of schools carry a couple copies of all of the textbooks they use in their curriculum in the campus library. You may not be able to check it out but you can always go there for a quiet place to study and utilize resources. Also, look into buying used textbooks if possible. You can save a lot of money doing this or ordering them online. Spring Break is when a lot of students blow their savings. Skip the trip to Cancun and look into cheaper alternatives. You will be surprised how many fun things there are to do on a budget. Check locally for any cool destinations or places to hike or look on campus to see if there are any group activities scheduled that may interest you. Leave your car behind. Cars are extremely expensive to maintain while going to college. Between gas, maintenance, insurance, and parking, spending adds up. Live in closer proximity to campus or check out mass transit. Riding your bike is another way to save money and also get some excercise. Become a Cheap Date. Attend campus events or go to a free movie festival. Go for coffee or make a nice dinner at home. It is easier than you think to have a nice evening with your significant other when you’re on a budget. Steer Clear of Vices. Beer and cigarettes are expensive habits to keep up. Try and stay away from them or limit yourself. They are also terrible for your body’s health! Another bad habit students fall into is going out to eat too often. Treating yourself once in awhile is ok but utilize your meal plan because you are paying for it. Check out our Blog! The founder of CAPlus, Paul Celuch, updates his blog at least once a week and discusses topics such as college loans, staggering statistics, how to avoid debt, some of the mistakes parents make, and how to make good choices. Visit his blog at http://forgiveusourstudentdebts.blogspot.com. Interview with a Graduate - Ashley Barnes 
Editor's Note: Ashley Barnes has a Bachelor's degree in Anthropology and Italian. This picture was taken with a local child at a park in Australia during her time abroad. CAPlus: Where did you go to school and what was your major? AB: I got my Bachelor's degree from SUNY Oswego in Anthropology and Italian. I started to go for my Master's degree in Anthropology at Binghamton University but I only completed one year. CAPlus: How come you didn't complete your Master's? AB: When I came out of college originally, I was so excited to embark on a new journey of furthering my education in Cultural Anthropology. I had a professor that I truly looked up to and he said with my grades and my drive I could be an asset to any program even at the nationally renowned University of Arizona. I applied to the program and moved out there. I was rejected twice. After wasting time and money out there I decided to move back to New York State and go to Binghamton University. CAPlus: Why did you decide to stop going after one year there? AB: I loved Anthropology. However, one of the main careers you can go into is Archeology. Well I didn't like Archeology so I decided to just stay in the Anthropology program. I then came to the realization that this major wasn't going to give me a career. The opportunities were very limited. I was wasting so much money going to school and I knew in the back of my mind that I wasn't going to be guaranteed a job and the market is very slim. CAPlus: If you don't mind me asking, how much student loan debt did you incur during your education? AB: Right now I have approximately $70,000 in student loans. I incurred a lot not only from going to college and some of graduate school but I also studied abroad twice. Once in Italy and once in Australia. CAPlus: Do you think your education was worth the investment? AB: I definitely think college is important for people. The education you get and the life experiences you have are important to molding the person you become. However, I feel like the major I went with wasn't worth $70,000. I probably shouldn’t have studied abroad twice or maybe I shouldn’t have taken two majors, but at the time, my professors told me these options were going to be so good for me. I mean look at me now, I have a BA in Anthropology and half of a Master's degree in it too and what is that going to do for me? I work at a local Blockbuster for crying out loud. I spend my weekends on the phone with Sallie Mae representatives. I think kids definitely need an education but not for $70,000. CAPlus: What are your future plans right now for a career? AB: At this point I am just trying to survive. I work at a video store making just over minimum wage. I have been trying to find a decent full-time job but it's difficult. With today's economy alone, everyone is struggling to find jobs. It is even more difficult when you have a degree in something like Anthropology where one of your only options is teaching in college. But in order to do that, you need a Ph.D. If I finished my Master's and got my Ph.D. I would be in over $100,000 in debt. I mean how can you deal with that? I will be paying this off for the rest of my life. CAPlus: How big of an impact would you say that your debt has on your life at this point? AB: Right now that is by far the most pressing issue that I am facing. I am 24 years old and I owe $70,000. I have a job that pays me about $18,000 per year. I have been consistently trying to find a second income but have been unsuccessful to this point. Every month it gets harder and harder to make due. Honestly, it's been devastating. High School Freshmen & Sophomores 
•Start thinking about colleges that you might want to visit during the summer. Spring and summer are great times to visit colleges, so if your family takes vacations together, try to squeeze a few college visits into the schedule. •Continue saving money for college. If the student has a job, keep the money in an account with the parent's name on it to shield it from the federal aid formulas. •If you are involved in clubs or other activities at school, try to apply for leadership roles for next year. If there are other clubs you'd like to join, do it! Colleges love student leaders. •Talk to your high school guidance counselor about taking AP classes next year. A strong high school transcript will help you receive a better financial package from colleges. •If you have money in mutual funds, bonds, stocks, and educational IRAs, you should consider talking to a financial planner about moving those assets into accounts that are not exposed to the FAFSA's formula. High School Juniors 
•Don't get too caught up in socialization at the end of this year and neglect your classes. Your junior-year grades show the colleges what kind of work you are capable of, and they are used to determine how much scholarship and grant money you are eligible for. •Check to see if there are any community colleges with summer classes that you are interested in. Getting some basic classes out of the way now can save you money when you begin college. • Study for the ACT and SAT exams! The next ACT test date is April 4; regular registration is accepted until February 27. The next SAT test is May 2; regular registration is accepted until March 31. Visit www.actstudent.org and www.collegeboard.com for more information and to find testing sites. There is also an SAT prep center at the website. Better scores can mean better financial aid! •Refine your lists of potential colleges, and explore their websites. Start comparing schools by the things that are the most important to you. •Plan visits to any colleges that you are interested in exploring in more depth. Make informed, educated decisions on which colleges to visit; don't visit colleges that you aren't able to afford. High School Seniors 
•If you haven't finished your college applications, look for some more schools that have rolling deadlines. We suggest applying to about six of your favorite schools so you have a lot of financial options. •Follow up with the colleges that you have applied to. Make sure that they received all your application information, including your FAFSA, recommendation letters, test scores, and transcript. •If you haven't filed your FAFSA yet, make sure you do it before the month is over. If you already filed based on last year's tax information, go back to the FAFSA website and correct the information. •Don't make decisions about which college to attend until you have received all of the financial aid package letters. Compare the aid offers and make a wise choice. If you are a CAPlus client, send us your aid offers and we will help you understand the bottom line. •Prepare for any AP exams in May. Consider taking a preparation class if there is one available, because these courses can give you college credit that you won't have to pay for later. •Plan visits to any colleges and set up interviews that you didn't get to during the summer (or if you want to visit again). Read bulletin boards and the college paper, talk to students and professors, and try to spend a night in the dorms. Ask your CAPlus advisor for a college visit packet before you go! •If you have made your college choice, congratulations! Don't forget to send in your tuition deposit and return your aid offer so the college knows which aid you would like to accept. College Freshmen, Sophomores, and Juniors 
•Make sure you have filed your renewal FAFSA to get the maximum amount of financial aid. It's easy to make a mistake, so have your CAPlus advisor review your form before you submit it. •If you plan to have a summer job, focus on finding one that will enhance your resume. With the economy the way it is, it may be difficult to find something. If you have plans to return home for spring break, make sure you are actively seeking summer employment to get a jump on the season. Network around and get some interviews set up if possible. •Discuss your plans for next year with your academic advisor. Talk about whether you are on track to graduate in four years. If you haven't declared a major yet, register for general classes that you will need to take at some point. Don't get trapped into an extra semester! •Students may also want to set up a meeting with a career counselor at college. Talking with someone may help you figure out what you can do with your degree and what kind of summer job you should look for. College Seniors 
•It's almost the end of your college career! Students should keep pushing to have good grades, and parents need to keep graduation parties within their budget. •Before you graduate, get recommendations from your professors and department heads. They can be influential in recommendations and references for your first job. •Continue looking for jobs and interviews, and talk to friends or family for ideas or contacts. You may also want to sign up at an online networking site such as LinkedIn. Getting a job is about networking, not applying online. Remember, you're only months away from the end of your college career. It is especially important now to start networking because the job market is slim in most places around our nation. Getting a great job right out of college is a difficult task and you shouldn't rely on your college to do the work for you. Make contacts now and it will help you in the future. •Talk to people at career fairs at your school. This is a great opportunity to talk to people in different fields and maybe get some interviews. You never know what kind of leads you might get! What is CAPlus? College Assistance Plus assists parents in navigating the college process to make the process smoother and save money in multiple ways. This newsletter is available bimonthly and contains helpful advice for each age group. To receive the full benefit of this service, contact CAPlus to schedule a FREE consultation today! Find a Franchise For a complete list of our locations, please visit our website. |
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