All tagged college education
Give a man an education and he will build a new world, but give a man a loan and you can own that man forever.
It’s been 10 years since I graduated from grad school. I still proudly hang up my diploma because it put me on a better path for my career and my income. It was also FREE. No loans, no debt, no soul to be sold. With that, I thought I might offer some ways to help reduce debt if you are a college student or have a child that is about to head to college.
A college library is often one of the most utilized, but also underutilized places on campus. You may find yourself spending countless hours studying for an exam, doing homework, or even sleeping, but what else can the library do for you?
“Make a specific birthday wishes and write it down. You will be amazed about the power of pen and inner strength to accomplish the wishes.”
By the time I had finished my masters degree last year (2019), I had accumulated over $33,000 in debt just from student loans. After reviewing the payoff schedule, it estimated that I would pay off my debt by the time I was 43. That’s when I decided I hated that plan. Instead, here’s my plan to pay off by debt by the time I’m 30, which is 5 years away.
“Mentors won’t make you rich. Doctors won’t make you healthy. Nutritionists won’t make you slim. Teachers won’t make you smart. Gurus won’t make you calm. Trainers won’t make you fit. Ultimately, you have to take responsibility. Save yourself.” - Naval Ravikant
With the help of one of our sisters, Elaine, who graduated from NJIT last year, we thought we would provide a few tips to help college students and more specifically, college seniors, weather the effects of Covid-19 in their future plans.
I was three years out of undergrad when the 2008 recession happened. I had just started a new job in New York City in a completely different industry when the mortgage crisis unraveled so a part of this are some lessons I learned during that time. The most important being to prepare and not let fear get in the way of action and to always think about your future self and future family.
"No man should escape our universities without knowing how little he knows."
This month’s book is all about college since October is FAFSA month. This book, It’s the Student, Not the College, by Kristin M. White, an educational consultant is a well-thought out book on the realities of college, of the college admission process, the future of college and what students should do in order to fully become successful in college and all future endeavors. I’ll break down a few of the sections to give you a sense of what’s in it, but for $10, this book will probably be the best investment you will make for yourself and your child.
I picked up another personal finance book from the library. Another oldie, but a goodie from Suze Orman: Women & Money: Owning the Power to Control Your Destiny. There's a section in there where she talks about Saving for Your Kid's College vs. Saving For Your Retirement. Suze, like she always does, keeps it real.
The reality is that if you retire without ample money to support yourself, you will become a financial burden on your children. So understand that the most generous decision you can make today - for yourself and your children - is to build as much financial security as you can, so that down the line the only thing you ask your kids for is more time with them and the grandkids, not financial aid.
