College Loans - Easy Money
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Title: College Loans - Easy Money
Word Count: 445
Author: Carl Willoughby
Email: MoneyPlus2000@aol.com
Category: Finance & Investment
Article URL:
http://www.submityourarticle.com/articles/easypublish.php?art_id#15516
The article is preformatted to 60CPL.
College Loans - Easy Money
Today a check came in the mail=85 $5,338.00.
The check came in my daughters name. She’ll be a senior at
St John’s University this year in September.
But, she needs to go to summer school. She will be taking 2
classes… Spanish Level II - 3.0 credits and Public
Speaking Col - 3.0 credits =85=85=85 for a total of 6.0 credits.
Language Lab Fee=85=85=85=85 $25.00 Tuition: St Johns
College=85=85$5,238.00
University General Fee=85=85=85$50.00. =85 Total - $5,338.00 =85
That’s how much the check was for=85 $5,338.00 It was from
her favorite lender Sallie Mae.
The envelope with the check was addressed to my daughter,
not me. I didn’t even know she had applied for the loan.
She didn’t ask my opinion or advice or permission. She’s 20
years old, no longer my little girl. Old enough to borrow
$5,338.00 on her own. Damn!
There will come a time when that $5,338 will have to be
paid back. There is a price to be paid for this
“easy-money”.
At about $50/mo, it will take about 10 years to pay that
off. =85 Not so easy to pay back! My daughter owes $28,973.13
in student loans so far. She still has at least 1 more year
to go for a bachelors degree.
Plus she has to go to grad school for at least another 2
years if she wants to find a job in Psychology…
And she’s talking about going for a doctorate degree.
Another 2 years. If she keeps borrowing at the same rate
over the next 5 years, to get her PhD, she’ll owe $72,432
in student loans.
$72,432 in student loans - Easy Money!
And that doesn’t take into account inflation and the
increasing cost of higher education each and every year.
Most students (and their parents) will end up taking out
student loans. However, if you can get some scholarship
money, that is=A0money you don’t have to pay back.
Since ALL schools are inundated with too many applications
for scholarship money, emphasis is placed on the
scholarship essay to determine who will get the available
scholarship monies.
Unfortunately, many students and parents don’t know how to
apply for scholarships. Here is a quick but important tip
for winning scholarship money.
Set yourself apart from the thousands of other applicants
by being specific about what you have done in your life. If
you’ve achieved, tell the judges. Put your best foot
forward.
If you have family responsibilities, tell them what you do.
Otherwise the judges don’t know. Write about what you have
actually done and you will be remembered by the committee
members and increase your chances of winning scholarships.
About the Author:
Carl Willoughby has worked as a Licensed Registered
Representaive for the Prudential Insurance Company, a
Computer Programmer for the New England Telephone Company,
and a Computer Sales Consultant for SEARS.
He writes a near daily blog about Money and College at:
http://www.StudentLoanDebtConsolidationSite.com