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Interview With Lawrence Goldstone, Author Of The Anatomy of Deception
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The Fruit Hunters: A Story of Nature, Obsession, Commerce, and Adventure
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Interview With Joseph Boyden, Author of Through Black Spruce
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Interview with Nino Ricci, Governor-General Award-Winning Author
With American tuition fees of roughly US$25,000, and many families strapped for cash, some American students are now taking their higher learning north of the border. Many Canadian universities are of an Ivy League caliber; however the total cost of attending the schools is markedly less. For international students, one year of tuition at Dalhousie University in Nova Scotia is CDN$14,060, versus Boston University’s CDN$44,975. Not to mention housing expenses, etc. About 9,000 American students studied in Canadian Universities this year, versus roughly 2,300 12 years ago.
Students face the decision after graduation, however, about whether to move back to the U.S. or to stay in Canada. Read more…
Since 1 March, at least nine American universities have received anonymous donations totaling over $45 million. The catch is: the school had to promise not to try to find out the benefactor’s identity. It is not clear whether the source is an individual, a group with similar interest or an organization. Some of the schools even went so far as to contact the Internal Revenue Service (IRS) and the Department of Homeland Security to verify that the money was not ill-gotten.
The unknown supporter also stipulated that the majority of the money should go to student scholarships, while the rest can fund research, equipment and operating expenses. Read more…
Just when you thought student debt couldn’t get any worse, it does. More students today are paying their college fees on credit, and therefore carrying higher balances, a study has found. This study also shows that students are using their credit cards as opposed to seeking financial aid such as private loans and grants. Some students worry that their college debt will prevent them from buying homes in the future. Read more…
Schools and students alike are concerned the failed economy will force dropouts. With college already costing around $50,000 for room, board, books, tuition, etc, some student have had to make tough decisions to leave school, take out bigger loans, or get part-time jobs. Some may even switch to schools with cheaper tuition rates. Read more…
In honor of Halloween week, here’s a scare: the most expensive colleges of 2008-2009.
| College | Tuition |
| 1. Bates College | $43,950 |
| 2. Middlebury College | $42,910 |
| 3. Colby College | $42,730 |
| 4. Union College (NY) | $40,953 |
| 5. Connecticut College | $40,900 |
| 6. George Washington University | $40,392 |
| 7. Vassar College | $39,635 |
| 8. Sarah Lawrence College | $39,450 |
| 9. Bucknell University | $39,434 |
| 10. Colgate University | $39,275 |
| 11. Carnegie Mellon | $39,150 |
| 12. Kenyon College | $39,080 |
| 13. Skidmore College | $38,888 |
| 14. St. Johns College | $38,854 |
| 15. University of Richmond | $38,850 |
| 16. Tulane University | $38,664 |
| 17. Wheaton College (MA) | $38,585 |
| 18. Franklin & Marshall College | $38,580 |
| 19. Wesleyan University | $38,364 |
| 20. Hamilton College | $38,220 |
| 21. Oberlin College | $38,012 |
| 22. Reed College | $37,960 |
| 23. Tufts University | $37,952 |
| 24. Dickinson College | $37,900 |
| 25. Bard College at Simon’s Rock | $37,860 |
Getting into and paying for college may seem like a daunting task. But here are a few tips that may make things easier:
Don’t assume that a school is too expensive for you (the “sticker price” may be far more than a student will end up paying) - so apply to a wide range of universities, both public and private.
Apply to both in-state and out-of-state universities - schools value geographic diversity in their student bodies, and will give competitive rates to get it.
You don’t have to be poor to qualify for financial aid.
Make sure your credit rating, and that of your co-signer, is strong. This will help when applying for loans.
Something for parents to keep in mind: you can borrow money to pay for an education, but you can’t for retirement. So don’t pay for tuition at the expense of your retirement funds.
Check out various college-savings accounts.
Learn as much as you can about the financial aid process.
NEW YORK, May 12 /PRNewswire-FirstCall/ — Lucrative jobs, corner offices and business lunches may be what undergrads and their parents have in mind for a post-graduation future, but their view on the amount of money they need to pay for education is generally far less clear. Estimating the total cost of a college education can be confusing, which often leads to bad decisions when it comes to funding that education.”The best place to start when it comes to figuring out what you can affordably borrow is to calculate the total cost of the education they are pursuing. However, parents and students frequently find themselves at a disadvantage when trying to determine what this figure will end up being,” said John P. Derham, an officer for MyRichUncle. “A few smart rules are in order to help families get to a realistic number to start budgeting for.”
Math Rule #1 — Know your Estimated Total Costs, in relation to tuition and fees
Tuition is just one part of the total cost. Factor in books, meals, housing, transportation and other expenses (even decorating the dorm room) when making a college financial plan. Your school should provide helpful information on costs but here are a few guidelines depending on the type of institution you plan to attend:
-- Four-year public college -- If you're in-state, the average budget is
about $18,000, of which tuition and fees are $6,185. The average
out-of-state average budget should be about $28,000, of which tuition
and fees are $16,640. Students considering a public college should be
mindful that tuition and fees are approximately one-third of their
total budget.
-- Four-year private college -- The average budget should be about
$35,000, of which tuition and fees are close to $24,000. Students
considering a private school should consider their tuition and fees as
just over two-thirds of their total budget.
-- Two-year college -- Average estimated budget is about $13,000. Tuition
and fees are about $2,400 of that amount. Students considering a
two-year college should understand that tuition and fees are
approximately 20 percent of their total budget.
“Knowing the true extent of the costs up front and planning for them is critical. When parents are not given enough time or information to do the research and the math, they can put their finances and their children’s education in jeopardy,” said Derham.
Math Rule #2 — Know the Impact of One Percentage Point of Interest and Shop Around for the Best Rate on Student Loans
A change in rate can make a substantial difference in the overall cost of your student loan.
-- A $10,000 private student loan that has an average percentage rate
(APR) of 8.69 percent that you defer payment on until after graduation
will cost $20,512 in interest, not including the principal amount
borrowed.
-- Meanwhile, a $10,000 private student loan with an APR of 6.92 percent
will cost $14,797 in interest if you defer payment until after
graduation.
In other words, less than two percent difference in the annual percentage rate of interest translates to over a $5,700 difference in the amount repaid.
Math Rule #3 — Understand the Impact of your Repayment Decisions. If you are Able to Start Payment on the Loan Immediately, Do It
Using the $10,000 private student loan examples above, we recalculated the interest payments if the borrower started repayment on the student loan immediately.
-- The first loan's total interest amount owed is reduced to $11,056, a
savings of nearly $9,500 in overall interest paid.
-- The second loan's overall interest amount paid reduced to $8,420, a
nearly $6,400 difference.
Because payments need to be made consistently, it may not be realistic for many students to start repayment immediately. However, knowing that interest accrues during the deferment period and that you have to make it up by paying it back later should help parents and students make smarter borrowing decisions.
Added Derham: “When you do the math, you can really see why it is important not to borrow a dollar more than you need in student loans.”
MyRichUncle offers many tools for prospective borrowers. One tool, the APR Monthly Repayment Calculator, provides student loan shoppers a new process whereby they can view examples of private student loans in repayment from several different vantage points. Specifically, if a borrower is seeking to secure a private loan to fund their education costs that free and federal money have not covered, he or she can input a desired loan amount as well as the expected graduation date and degree sought. From there, the borrower can compare several options, including:
-- The cost difference between three repayment options: Immediate
Interest and Principal, Interest Only and Deferred. While the
deferment option is most popular among students, they may not calculate
how much interest will accumulate, and the true difference that will
make in the overall amount repaid.
-- The cost difference between repayment terms. A standard comparison of
15 years is provided, however borrowers can look to repay their private
student loans over a longer or shorter period of time and compare the
true cost of those decisions in real numbers.
-- The Annual Percentage Rate (APR) on the loan. As the total measure of
what the loan will cost, the APR will take all repayment factors into
consideration, thus making it a standard comparison tool for consumers.
The APR Monthly Repayment Calculator is fully automated and operational from the MyRichUncle.com website; no downloads are required. For more information, please visit www.MyRichUncle.com and click on the link for the APR Monthly Repayment Calculator.
MONTREAL, QUEBEC–(Marketwire - March 31, 2008) - Compared to post-secondary students at public colleges, students pursuing post-secondary studies at privately operated career colleges tend to be older, with a mean age of 29, and have a greater reliance on government student financial aid. In addition, most of them (72 per cent) are women, and they are more likely to have dependents under 18 and less likely to have financial backing from family.
These are several key findings of the Survey of Canadian Career College Students, the first major study of students attending career colleges. The survey, jointly commissioned by the Canada Millennium Scholarship Foundation and Human Resources and Social Development Canada, with the cooperation of the National Association of Career Colleges, was conducted by R. A. Malatest and Associates Ltd.
Other key findings include:
- Six out of 10 students attending private post-secondary institutions took a break, after completing high school, of between one and 10 years before returning to their studies;
- Less than one in 10 indicated that they would have preferred to attend university;
- Most seek education that will equip them for specific jobs and careers, taking courses of seven to 12 months’ duration, compared to one- to four-year study programs in public colleges;
- The average cost of these programs is more than $14,000, and more than half of private career college students anticipate a debt load of $10,000 or more, compared to about one-third of public college students.
The study’s central objectives were to understand the socio-economic background of students attending private post-secondary institutions, identify the reasons and factors for choosing such an institution, assess students’ work and educational transition plans post program, and detail the level of student satisfaction with the education and services provided. The study is available at http://www.millenniumscholarships.ca/en/research/AllPublications.asp.
The Canada Millennium Scholarship Foundation is a private, independent organization created by an act of Parliament in 1998, with a mandate to deliver bursaries and scholarships to Canadian post-secondary students until the end of 2009. The Foundation encourages students to strive for excellence and to pursue their post-secondary studies. To date, it has awarded more than 900,000 bursaries and scholarships, worth some $2.6 billion, to Canadian post-secondary students. Approximately five per cent of these awards have been distributed to students in private career colleges.
PHOENIX, AZ–(Marketwire - March 6, 2008) - College costs rank as one of the top concerns for college students today, according to a recent survey by the Higher Education Research Institute. Financial aid packages — the funds schools offer to students in the form of grants, scholarships, work-study awards, and student loans — were cited by 39 percent of students in the survey as one of the most important factors when making college decisions, an increase of 5.1 percent over last year.
These concerns about affordability may be playing a part in students passing on their first-choice schools, suggests the survey’s director, John Pryor. In 2007, over 80 percent of freshmen had been admitted to their first-choice school, but out of that group, only 64 percent actually enrolled in that institution, according to the survey.
Students who find that their financial aid package isn’t enough to cover all their college costs may have options other than changing their school choice. In addition to the Pell Grants, work-study awards, and subsidized Perkins and Stafford student loans that are available to students who demonstrate financial need, the federal government offers low-cost, fixed-rate college loans to undergraduates, graduate students, and parents of undergraduates without regard to financial need.
Undergraduate and graduate students who demonstrate no financial need or who have already maximized their need-based financial aid award may still be able to qualify for unsubsidized Stafford student loans or Grad PLUS graduate student loans. Eligible parents of undergraduates can qualify to borrow up to the full cost of attendance each year with a Federal PLUS Loan.
When federal financial aid — whether need-based, non-need-based, or both — isn’t enough to cover all education-related expenses, students may still be able to obtain the additional funds they need to attend their first-choice school from private student loans.
Private student loans are typically available year-round, with no application deadlines, and feature generous borrowing limits, often up to the full cost of attendance.
However, since federal college loans generally offer more attractive terms than private student loans, students and their parents should always look into their federal financing options first before turning to private student loans.
About NextStudent
NextStudent, Federal Lender Code 834051, is dedicated to helping students and their families find affordable ways to pay for college. NextStudent offers one-on-one education finance counseling and has a portfolio of highly competitive education finance products and services, including a free online scholarship search engine, parent and student loans, private student loans, a private student loan consolidation program, and college savings plans.
For more information about NextStudent and its student loan programs, please visit our website at www.nextstudent.com.
WASHINGTON, Feb. 13 /PRNewswire/ — Calling all high school seniors — there are only a few weeks left to apply for the SAMMY (Scholar Athlete Milk Mustache of the Year) Awards. The National Milk Mustache “got milk?” Campaign, in partnership with USA Today, is announcing a last call for entries for the 2008 SAMMY Awards, which will recognize 25 student athletes who have excelled in academics, athletics, community service and leadership with college scholarships.
The SAMMY scholarship educates teens on the importance of making smart choices — like drinking lowfat milk, eating right and staying active — by rewarding 25 exemplary students who score big on their tests and in the game while staying healthy with milk. Winners will receive a $7,500 scholarship, attend an awards ceremony at Disney’s Wide World of Sports and appear in a special milk mustache ad in USA Today. A celebrity panel of milk mustache athletes, including Andy Roddick, Steve Nash, Mia Hamm, Michelle Kwan and Tony Hawk will help select this year’s winners.
Last year, more than 56,000 students applied for the SAMMY Award. To date, the National Milk Mustache “got milk?” Campaign has awarded more than 250 talented teens with over $1.5 million in scholarships.
Applying for SAMMY — Time is running out!
High school seniors who think they have what it takes to wear the famous milk mustache still have time to visit http://sammy.bodybymilk.com and fill out an application. All applicants are required to describe in 75 words or less how they incorporate milk into their everyday life and training regimen. Entries must be submitted no later than 11:59 PM ET Friday, March 7, 2008. Finalists will be named in June 2008. For complete contest rules and applications, log onto http://sammy.bodybymilk.com.
