CollegeTipsForParents.org will begin posting video podcasts which will provide tips and suggestions for students getting ready to start college. The videos will also include useful information for parents of college students.
Given the recent credit crisis, there will likely be greater challenges in getting private student loans. Private loans will likely harder to come by, and may be even more expensive. However, parents and students need to make sure that they take advantage of any available federal, state, and institutional aid, before looking at more expensive private student loans. It is estimated that almost half of undergrad students do not use all available low-cost federal loans their families are eligible for. They end up seeking more expensive loans from private lenders. College financial aid officers can be excellent sources of information, regarding all available programs and sources of aid.
In light of the violent incidents that have occurred on college campuses, security has become an even greater priority at colleges and universities. Security enhancements can be expensive, so colleges are looking for federal financial help to offset these costs.
Safety and security experts believe advanced alert systems, for example text messaging, is critical to providing rapid warning to alert students of imminent threats on campus.
Bills have recently been approved in both houses of Congress which would provide federal matching funds for colleges and universities to purchase emergency communication infrastructure or enhanced safety training. These items are incorporated into a larger bill addressing the postsecondary education law, which is currently being discussed in Congress.
Given the recent tragedies at University of North Carolina, Northern Illinois University, and Virginia Tech University, campus security is a extremely visible issue, and obviously of the utmost importance to the public. However, there has been frustration among colleges and security proponents at how long it has taken Congress to approve these measures. There is a chance that Congress could take action by April. Unfortunately, any funding would not be available until next year, since the dollars would have to be approved by the congressional budget committees and signed into law by the Whitehouse.
Just as a following up to our earlier post; there suddenly is a major move among many elite schools to reduce the amount of funding that college parents and students must provide. This trend is becoming very common among private colleges which have large endowments. They are often capping the amounts of parent contributions, reducing tuition, and limiting loan amounts. These reductions are generally focused on lower and and middle income families. For example, Stanford University just announced reduced tuition levels for families earning under $100,000 per year for the 2008/09 academic year.
A useful resource on the web is Finaid.com’s list of colleges that have reduced or eliminated loans and/or parent contributions: links.sfgate.com/ZCMS
There is an article excellent appearing in the online newspaper, The Ledger, entitled ‘Aid In Paying Bills For College‘ about tips for paying for admission to top-flight universities such as Harvard and Yale. The article is written by Jonathan Clements who is a regular contributor to the Wall Street Journal. Mr. Clements frequently writes outstanding articles regarding personal financial matters.
One of the main focuses of the article is that it is often easier, than college parents might realize, to receive enough grant money for tuition to schools like Harvard. What is pointed out in the article, is how even relatively high income parents, can receive substantial grant monies.
Many private colleges have become more reluctant to saddle college students (and college parents) with substantial debt. They often provide significant grant money. For example, a premier private college which costs $40,000 per year, might offer $25,000 in grant money. Whereas a top public college, costing $15,000 might not offer any grant money. So essentially the net cost the college parent and student would need to pay for (or borrow) would be essentially the same.
The article points out that it is very important to understand the aid policies of each college. The income & asset factors considered for college aid decision are often very different than the government’s evaluation criteria.
Now that the winter break is over, we will be adding lots of new content to both the CollegeTipsForParents.com site, as well as this blog.
Colleges and Universities talk the safety and security of students VERY seriously. In fact, in light of recent tragedies, many schools are adding additional safeguards, including security related staff, procedures, and technology.
The United State’s Department of Education maintains a useful website with information about campus safety and security; this site maintains information resources which may be of interest to parents of college students:
Campus Safety and Security Resources
What are the gifts that college students want? The list below describes gifts which are not only popular among young people, but are useful items to have at college. In future posts we will continue to add to this list.
The following list was based of the input of college students.
Pre-Paid Gas Cards
Most major gasoline companies offer pre-paid gift cards which may be used at their gas stations. Gas cards make it easier for students to come home without blowing their budget.
Stress Relief Gifts
Students face a great deal of stress from academics and college life. There are a variety of gifts which may help allieviate these issues, for example: portable massagers to ease tension; relaxation CDs, yoga instructional DVD’s, herbal teas. Items like these could be given individually or combined into a ‘stress relief’ gift basket.
Money along with Money Management Skills Audiobook
Students love to get gifts of money, mainly because they always seem to be running out of it! Unfortunately most young people are very weak at managing money matters. With that in mind, a thoughtful additional gift to go with the money is the informative audiobook: ‘Money Management For Young Adults- Learn the Essential Skills That No One Ever Taught You’. This popular audiobook is 42 minutes long and gives an excellent overview of money management skills, from a young adult’s perspective. It clearly explains important topics such as personal budgeting and living within one’s means; responsible use of credit cards; banking basics; maintaining a strong credit rating; identity theft and fraud prevention tips, etc. This audiobook is available at the educational website:MoneyManagement101.org
USB FlashDrive
These are tiny, portable, digital storage devices that plug into the USB port in a computer. They are primarily used to store and transport personal files including documents, pictures, and music files. They make it easy to transfer files from the computer lab to their laptop or to their desktop computer back home. Some FlashDrives come with info security features which help prevent other people from being able to access the content on the device.
In future posts we will add to this list. We will also list gifts that many parents think are popular, but are actually not wanted by most college students.
More college student gift ideas to come..
What happens if your student’s possessions are stolen or destroyed on campus ? Do you need insurance at college? or does your homeowners insurance cover your students possessions at college?
It depends on your insurance policy. You should definately check with your insurance agent.
As we saw in our earlier blog entry, valuable items can be easily stolen, including bikes, scooters, computers, etc. Unfortunately, theft on college campuses is extremely common. Parents need to alert their kidsabout the importance of protecting their property; plus parents also need to do a bit of homework about their insurance coverage. For some insights on this subject, the following article from the NY Daily News gives an excellent overview of insurance coverage as it relates to students living away from home.
http://www.nydailynews.com/money/2007/10/11/2007-10-11_insurance_101_for_parents_sending_kids_o.html
Let us know your experiences regarding this important subject.
This video shows how easily thiefs can steal bikes on campus. The video was shot in various busy spots in New York City, although it is easy to image the same situation are any urban or rural college campus. It is amazing how passers by will not get involved. The video was put together by two brothers; the man in the video is actually ’stealing’ his own bike to illustrate his point.
Bikes, mopeds, and scooters are expensive items, and as was illustrated in this video, are vulnerable to theifs. In future entries, we will discuss bike theft prevention tips, recommended bike locks, etc.