student loans

Unlocking The Value Of A “Career College” Degree In Today’s Economy

May 8, 2024 by Tim McMahon

As the 1960s Bob Dylan song says The Times They are a-changin’. Today an ordinary Bachelor of Arts degree doesn’t carry much weight. But a practical degree from a “Career College” that teaches you real-life skills can be much more valuable.

Navigating the Job Market through Upskilling

In a landscape where job stability is increasingly rare, the significance of education and skill enhancement is more critical than ever. Acquiring new, relevant skills or honing existing ones offers a tangible path to securing stable employment. It’s about making oneself indispensable in roles that are in demand, regardless of economic fluctuations.

Understanding “Career Colleges”

Career colleges, often misunderstood and undervalued, offer a unique value proposition. These programs aim to equip students with highly sought-after practical skills in shorter timeframes than traditional four-year educational institutions provide. These colleges focus on hands-on training and real-world applications, preparing students for specific careers quickly and effectively.

Career colleges offer specialized training in fields that are in high demand, such as cybersecurity, office administration, graphics design, web design, data analytics, and healthcare management. This prepares students for careers in emerging industries and fields.

Career colleges also prioritize job readiness, ensuring that students are prepared to enter the workforce immediately upon graduation. This often includes training in soft skills, resume building, and interview preparation.

Is A Bachelor’s Degree Still Worth It?

September 14, 2012 by Jorgen Rex Olson

The Price of Higher Education: Student Loan Debt

These days, it seems inevitable that any discussion of the economy will include a discussion of student loan debt. And with good reason – according to U.S. News and World Report, the average college student will graduate with over $25,000 of student loan debt. This is the highest level of debt in the nation’s history, and cumulative student debt has surpassed credit card debt for the first time ever. The high cost of getting a bachelor’s degree has caused many to speculate as to whether or not going to college is still a worthwhile investment.

According to Yahoo Education, a U.S. Census Bureau report stated that more than 30 percent of adults ages 25 and older had at least a bachelor’s degree, the highest level of degree-holders ever. And a Department of Labor earnings report for 2011 showed that workers with a bachelor’s degree earned a median income of $1,158 per week, while those with only a high school diploma earned $641 a week. Yet the unemployment rate for recent college graduates with a four-year degree is 8.9 percent, higher than the national average. This may be because many employers are seeking to cut costs by downsizing or outsourcing many entry-level jobs overseas. Therefore, it is not at all uncommon to find young people with bachelor’s degrees working at Starbucks or waiting tables. [Read more…] about Is A Bachelor’s Degree Still Worth It?

How Much Should You Borrow to Pay for College?

July 22, 2012 by Guest Contributor

Borrowing for College

With stagnant wage levels and increasing costs of living, higher education has become a fact of life for anyone wanting to get ahead. Rising costs of that education are making it harder for parents and students to meet the costs. The past two years, for instance, have seen tuition inflation averaging eight percent, and tuition is virtually guaranteed to increase by three percent every year, if the last two decades are any indication.

Students have some resources available, and a couple of tricks to minimize costs. Private and university scholarships are still a possibility to reduce the costs. The Pell grant can help with undergraduate expenses, but it has not been increased to meet inflation in recent years. Tax credits are a great resource for parents who want to help their children pay for school. Students are increasingly working part-time while attending full-time classes, and they are completing the first two years of core classes at community colleges or on-line.

Even with these options, most students face borrowing to pay for school and living expenses, or putting off their degree programs in favor of full-time employment. How much debt should students feel comfortable with? How much is too much? Are some loans better than others? Finance provider Sallie Mae offers help for those considering student loans.

Borrowing for College — College—401 K 2012 (Flickr.com)

Remember Why You Borrowed

Students often have difficulty making the transition from high school to college. The latter half of senior year for students planning to attend public universities adds to the confusion with frequent parties and road trips. Student loans can easily become a way of maintaining a particular lifestyle, whether it is eating out regularly, living in classy apartments or buying designer clothes. Every dollar of student loans should be directed to the costs of education. When used to cover housing and food, such as during the more hectic final two years, these costs should be minimized as much as possible.

Make Long-term Goals

A way to help control your use of loans is future orientation. What are your plans after school? Do they include buying a new car or house? Maybe you want to start a family or take a vacation to celebrate? Student loan debt will make all these things more difficult, so minimize the debt. [Read more…] about How Much Should You Borrow to Pay for College?

Paying for College: Student Loan Tips for the Newbie College Grad

June 7, 2012 by Tim McMahon

Student Loan Tips

Graduating from college is one of those milestone moments. You leave your college bubble and pseudo adult life, only to enter “real time” adulthood. While graduation means graduation parties, graduation gifts, and no more late night study sessions or final exams, it also means a nine to five job, “real world” bills, and student debt. Graduates today are facing hard times. With a steady and astounding unemployment rate, a competitive job market, and mounting student debt, it’s not hard to imagine new grad life being less than glamorous. While this transition is always going to be a challenge, there are several things that new or soon-to-be grads can do to prepare for real life. Use these tips to carefully manage your student loan debt and reduce some of the stress in your first year as a college graduate. Here are 3 Student Loan Tips:

Student Loan Tip #1– Prepay Your Loan

Mortarboard, SooMee turning tassel — Student Loans Soon, SooMee turning tassel—quinn anya (Flickr.com)

With harsh times afoot, many individuals make efforts to lower their monthly student-loan payments from the beginning. This can be a very enticing thing to do. You can consolidate your loan or you can extend your repayment of the loan. While these options offer immediate relief, they tend to make things more challenging over time. Extending your repayment period means that you make more payments over a longer period of time. Doing this means that you end up paying more money in interest on the loans overall. Sure, a loan extension may be necessary at certain times and in specific circumstances, but, if at all possible, it is best to hold off on extending the loan period for times of emergency.

Student Loan Tip #2– Set Reachable Goals

It’s important to set goals for yourself when it comes to loan repayment. Student loans are difficult because they are dropped on you before you can even find your footing in the world of true adulthood. Sit down and set up some basic, attainable goals for yourself. Ideally, you should attempt to make the suggested monthly payment plus a little bit extra whenever is possible on your loan. But, of course, sometimes (particularly in the beginning) this just isn’t going to be possible. Look at your finances and decide what type of goal is reachable for your repayment. Once you figure that out, stick with it. When the time comes that you think you can pay a little extra on top of your usual payments, reevaluate your goals. Even 10 dollars extra a month can make a huge difference in interest charges. Generally speaking, the repayment period for a student loan is 10 years. This is a good goal to start with, but take a look at your specific situation and see what’s best for you. [Read more…] about Paying for College: Student Loan Tips for the Newbie College Grad