3 Ways to Keep Learning in Retirement without Paying for an Expensive Degree

 (Photo credit: Wikipedia)

Having talked to many friends and family members approaching retirement, one common goal among many of them is to go back to school. Of course, most of these aspiring learners don’t necessarily need the credential of a degree. Rather, they just want to keep on learning, and they’re interested in becoming an expert in a specific field of study that’s different from the one they chose when they were in college. If this is you, consider the benefits of learning outside a traditional degree program. Here are a few options: 

1. Research continuing education centers in your community. 

Almost all universities and/or major cities offer continuing (also called “adult) education centers. These programs don’t necessarily grant degrees, but they do offer courses that are specifically tailored to your interests and passions. What’s more, most continuing education centers offer courses with very flexible times and dates. This is especially important for those in retirement, who may have many other projects and activities they’re pursuing. For an example of what a continuing education center may look like, check out Rice University’s Glasscock School of Continuing Studies in Houston. 

2. Enroll in a Massive Open Online Course. 

Massive Open Online Course, also known as a MOOC, is the latest trend in education technology. A MOOC is essentially a free course, usually offered through an established university that encourages the participation of students from around the world and has virtually no cap on the number of students who can participate. The most successful MOOC to date was an artificial intelligence course offered through Stanford. 160,000 students enrolled including several Stanford students, and 23,000 students ended up completing the course. The professor who taught the course gave a certificate to each student who completed the class as well as a grade. 248 students received a grade of 100 percent, and none of these students were from Stanford. MOOCS provide retired, lifelong learners the opportunity to learn in a collaborative environment for free, all the while being taught by world-class professors and improving their computer skills. 

3. Join a club or organization. 

Sometimes being self-taught is the best way to go if you want to learn a new skill. It’s also the cheapest way. At the same time, learning in a group setting can spur motivation and help you learn more efficiently from those who are more skilled. One way I learned to speak Russian fairly fluently was by teaching myself using different books, coupled by joining a Russian language MeetUp group. MeetUp.com is a great way to find a local learning group that focuses on whatever skill you endeavor to pick up. 

Of course, none of the above ideas is necessarily comparable to enrolling in a full degree program. At the same time, if the learning is what you're looking for, and not the credential, the above all great options for learning without having to pay an arm and a leg. Good luck! 

Katheryn Rivas is a freelance writer and former educator. She enjoys writing about trends in higher education, college life, and lifelong learning. Check out more of her advice and reporting at OnlineUniversities.com. Feel free to share your comments and questions below!

Free Online Business Courses Helping with Personal Finance

Finance (Photo credit: Tax Credits)

There are few things more daunting in our personal lives than the concepts of personal finance, financial responsibility, and preparing for retirement. Money matters are almost always a drag. Whether you're 20-something and just graduated from college or you're 55 and edging on retirement, a little guidance when it comes to finances can be extremely useful. Truly understanding personal finance and retirement planning will most likely take a bit more effort than just reading a few blog posts or "how to" books on the topic. Take the time to really invest in your financial future by educating yourself as carefully and thoroughly as possible on financial matters. As technology grows and expands, we have more and more access to useful information and resources. Use these three online business open courseware classes for free to learn more about personal finances and money management. 

Fundamentals of Personal Financial Planning- University of California Irvine

This online class is offered by the University of California in Irvine and takes a careful look at financial planning. While this class certainly shouldn't replace a professional financial planner if you need one, it can be extremely useful in getting individuals started on the path of financial planning. Students can take the class for free online to gain an understanding of financial planning in the broadest sense. Students will learn to manage all aspects of a person and family's financial affairs. This starts with exploring family spending planning and extends to looking at risk management with insurance, taxes, wealth accumulation, investing, and wealth distribution in retirement and estate planning. This online course is a great stepping off point for beginners of any age to delve into the world of financial planning and management.

Introduction to Financial and Managerial Accounting- MIT

This course is presented by open courseware-great MIT and the Sloan School of Management. As an introductory course, this business class tackles the sometimes confusing topic of accounting. Students will study the basic concepts of financial and managerial reporting in this online course. You will explore topics like the accounting process, statement of cash flow, balancing and recording transactions, long-term assets/depreciation, and much more. While some of this material may be more advanced than is necessary for personal finance needs, the course can still be very worthwhile for the average individual.

Statistical Thinking and Data Analysis- MIT

Another course offered by the MIT Sloan School of Management, this course explores the topics of statistics and data analysis. Again, this course may look into several topics that are more advanced than the average person might need, there are many things to take away from the course. Students will look at topics on applied probability, sampling, estimation, hypothesis testing, linear regression, analysis of variance, and much more. Learning these areas of statistics and data analysis can help with understanding your money use and future prospects. Students have access to lecture notes, exams and solution, and assignments with solutions. Follow the class completely or pick and choose through the topics that you are truly interested in learning and you think can help your financial planning and personal finances.

Karen Smith is a devoted freelance writer and business blogger. Her primary goal as a blogger is to inform her readers about pursuing a business degree online. She also enjoys writing about small business trends, Internet marketing, personal development, and sustainable living. Karen welcomes your comments below!

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3 Tips for Helping the Family Through University

(Photo credit: Wikipedia)

The students have just gone back to University, but for many it’s their first time in the big cities, having to fend for themselves and make sure that they're up in time to make the first lectures of the day! While the early birds will have no problem with that task, others might find it a little more difficult, so anything we can do to help make their time at Uni simpler can only be a good thing right? 


Whether it’s our own children or the Grandchildren who've gone off in search of the foundations they need to build their future careers, they’re likely to realise how important it is to budget between student loan payments. 


But before they get bogged down and depressed by their poor financial situation – a factor every student, unfortunately, has to deal with – there are a number of things you can do to help them. 

Budgeting Lessons 

If they haven't gone already, or if you get the chance to sit down with them sometime soon, work out exactly how much they have in their account, how much their rent is each month, and when the next payments are due both in and out of their banks. This way you can chat clearly and easily, showing them exactly how much money they have to “play” with, and how much they're able to spend each week, helping them to stay out of the red, and in the black for as long as possible.

Shopping Tips 

Shopping is a key part of student life, popping down to the supermarket and buying trolleys full of baked beans, pizzas and drinks, but many students don’t know how to get as much as possible for as little as possible. You don't need to be one of the top accountants based in Dublin, London, Manchester or Edinburgh to know how to make savings. Own-brand products can be significantly cheaper than the brand named products, but with little or no difference in taste, something you've worked out with your experience of doing the family food shop that they might not have realized. Let’s be honest, students won't notice the difference once it’s out of the packet anyway, they'll eat anything!

Regular Communication 

Possibly the most important thing is to stay in touch while they're away. The last thing you want to find is that the reason you haven't heard from them in a few days or weeks is because they're worried about telling you they've run out of money. By staying in regular contact, you can gauge how they are. This isn't to say you should ring them every day, (they’ll soon stop answering), but maybe once a week at least if you haven't heard from them beforehand.

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Advancing Your Career With an MBA

 (Photo credit: Wikipedia)Life's not over until you're dead. Many people don't look at retirement as "giving up," but rather another chapter in their life. If you want to keep working in your "golden years," you'll have to stay competitive. You'll be up against a job force that's younger than you, but you have two strengths: your experience and the ability to get an MBA online. It's not as difficult as you might think.

Assess Your Strengths

The first step in getting your online MBA is to know your strengths and weaknesses. In fact, knowing your weaknesses is probably going to be your greatest strength. Make a set of goals for yourself and write them down. Not only does this make everything objective, but it demonstrates to admissions offices that you are organized and confident about the abilities you have.

Keep it simple. Ask yourself questions like:

"Why do I think a graduate business degree is right for me?"
"What do I have in common with business professionals?"
"What future careers fit my personal strengths and abilities?" and
"What kinds of business schools and companies seem like they would be a good fit for me?"

Most importantly, ask yourself "why now?" You should have a firm grasp on why starting a graduate program makes sense for you now, and why you're willing to go through all of the hard work necessary to get one. After you've written down the answers to these questions, let everything "stew" overnight. Revisit your answers in the morning to see if you agree with what you previously wrote.

Decide On a New Career

MBA applicants that have established firm career goals tend to do better than those who haven't. They also tend to be happier with the outcome of their education and degree. Having a career plan beforehand also makes the job of finding a school easier. Since schools don't allow you to change what you want to study mid-stream, it will also save you a lot of time and frustration (not to mention money) in the long run.

Understand Where and How You Fit

Admissions officers aren't just interested in your academic abilities. An MBA has to translate into real-world usability. You have to be able to succeed professionally. This is where you have an edge over a younger applicant. If you already have some type of business experience, use this to your advantage when applying. One of the most important things you can do when interviewing with a school is to be honest. Admissions officers can tell when an applicant is just telling them what the school wants to hear. Be frank about what you want from your degree.

Another sticking point for some applicants is being realistic. It's one thing to say you want to own a restaurant, but if you've never cooked anything resembling a good meal then it's just not practical to expect to be a successful restaurateur.

Be proactive and demonstrate what you can contribute to your future profession. A lot of folks can say what they want to get from a degree. Few understand what they have to offer the profession as a whole. This is crucial, since admissions wants to know why it should spend its resources on you if you're going to take, but not give back to your profession.

Do some research on the school you're applying to. Don't walk in blind. It's always good to be able to tell the admissions officer what you like about the campus.

Study For the GMAT Exam

The Graduate Management Admission Test GMAT is an exam you don't want to put off. Even if you are nervous about taking tests, you need to buck up and get to studying. Your GMAT score is valid for 5 years, so you have the flexibility of keeping that around for a while if you can't get into a school right away. You can always retake the GMAT too if you don't score high enough. A good prep time is about three to six months.

Choose a School

There are more than 1,900 graduate business schools with more than 4,500 programs. You'll find something. Typically, you'll have the option for traditional 2-year programs as well as accelerated 12-month programs. To apply for business schools, you'll need:

• Undergraduate transcripts 
• Essays 
• Work experience 
• GMAT scores 
• References and a letter of recommendation 
• Extracurricular activities 
• Interviews 

Once you're accepted, classes are done entirely online. You typically communicate with your peers and professors via email and video or teleconferencing. Since you can often dictate your schedule with an online degree, you'll get your MBA on your terms - something on-campus graduates can't claim.

Author Bio:
Guest post contributed by Sarah Rawson. She is currently studying her MBA Finance online and writing as a freelancer. Sarah’s articles mainly appear on higher education blogs.

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Online Education Balances Work and Masters Degree Pursuits

Distance education (Photo credit: mccoy) With three children in college the subject of graduation and the completion of the process is often a topic of conversation. It's quite possible and we are crossing our fingers because by next summer we could be attending 3 graduations. Our three in college are working hard on completing their education and soon we will be seeing a nursing, psychology and criminology degree. We are looking forward to their graduation and the landing of their first jobs. Of course this is our plan but our future graduates tell us in today's workplace a Masters degree is helpful in a very competitive job marketplace. We made a deal with our children that we would help and support them while they pursued their Bachelor degrees but any further education would come out of their own pocket.

I agree it would be a good idea to get a masters degree in their field of study. But holding a job and going to a university would be difficult to do because of time constraints. I recommended that attending an online university would be a good way to accomplish the continuing education they want. 

There is also the possibility that they take a slightly different path when earning their masters degrees, choosing to focus on something that is a little more specialized. The Master of Public Administration and Policy program, for example, accepts students with all different types of undergraduate degrees and prepares students for careers with government agencies or within private sector organizations that provide services for the public. By taking a specialized masters degree program online, I am confident that my children can fully take advantage of their education and find excellent jobs in the future.

What makes an online education more interesting than attending a conventional college is you are not restricted to a certain geographical location. You can really attend a school that is anywhere in the country. Your options are broadened because now you can attend online a university on the other side of the country or the world. All that while going to work everyday.

When you are attending an online college the classroom dynamic changes from one teacher to a possible 100 students to a one on one learning experience. It will be like your the only student in the classroom. This more personal interaction, enriches your education. With course material accessible 24 hours a day 7 days a week students have the ability to read and re read lectures, discussions, explanations and comments. Often spoken material in the classroom passes students by due to a number of distractions, missed classes, tiredness or boredom.

Participating online is much more encouraging than in a classroom. All students play on a level playing field undisturbed by physical impediments. Using online chat rooms as part of a courses requirements allow students to no longer feel any uneasiness because of the pressure of a class room situation. You have more time to form your comments and questions in a more methodical way. Professors are more approachable through online chats, email and in new discussions, without waiting for office hours that may not be convenient. This option for communication provides enhanced contact between instructors and students.

Online classrooms also help group learning by providing chat rooms for meetings and group work. This solves the problems of mismatched schedules, finding a meeting location and distributing work for review between meetings.

Students often say that online education lets them attend class when fully awake and attend in increments of convenient time blocks, rather than rigid 2 or 4 hour stretches once or twice a week.

Because there are no geographic barriers to online education, students can find a broad array of course material that may not be available to them where they live or work. This is true for professional training such as medical billing training or purchasing training and for students in remote rural areas that cannot support college or vocational training centers.

It will be great to see our college graduates out in the world pursuing there masters programs in nursing, information assurance training, and psychology all while they work at their job.

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Online College Degrees Becoming More Accepted By Employers

 (Photo credit: Wikipedia)

Even though the growth of online education has exploded, students are still worried if their online degrees will be accepted by potential employers like traditional university degrees are. According to many hiring managers, online education is continually gaining more respect as it establishes itself in academia and the workplace. 

A recent article by Bloomberg Business Week says in the past many employers were not familiar with online degrees. This accounted for their lack of knowledge and skepticism. Today, this opinion is fading because many mainline universitys are offering MBA's, Master of Public Administration Courses, and other Master's degrees online. 

A recent study by the Online Journal of Distance Learning Administration shows that hiring mangers are becoming more accepting of web based degrees. The need for employees to have a MBA, required for their employment, is not being satisfied by the regular university system. Their findings show that the time commitment required when attending a traditional university can not be integrated into an employees life. The time constraints of a full time job and the many duties that a family and home life require put an employees time at a premium. 

What is changing the opinion of many hiring managers is present employees, who have gone through online degree programs. It is becoming apparent that the training they have received has made a them valuable members of the team. The managers also responded that their opinion of a potential employee with an online degree five years ago would of put that persons resume to the bottom of the pile.

One of the managers major concerns are that when you take courses online you do not have a way to use your social interaction skills that are necessary in a business environment. Sitting in front of a computer in your pajamas doing your course work can not be transferred to a dynamic office environment. Hiring managers have this opinion and it's something the employee has to think about when being interviewed.

Not all companies see the benefits of taking entire degree courses online. They do give much credence to already working employees adding additional degrees like an MBA or a public administration degree to an employees credentials through online learning. There still is a prejudice against online colleges. The advancement of online degrees has made it's way into the systems of many state colleges. Every year you see the technology of delivering complete degrees through online programs becoming better.

The online student has to keep in mind the views hiring managers have. When taking your course work it is imperative that you work toward receiving the highest possible grades and while your attending your online school you should continue to work so as to have even more job experience when finally going for an interview after you receive your online degree.

4 Reasons to Pursue Online Education in Retirement

E-learning short courses (Photo credit: London College of Fashion short courses)
Younger people have been privy to the benefits of online education for many years now, just because online developments tend to reach the "digitally native" set faster than others, who don't necessarily spend enormous amounts of time on the Internet. Online education is still in its relative infancy, but as it becomes popular, more and different types of people can benefit. Online education is especially well-suited for baby boomers for many reasons. Here are a few to consider:

1. You can continue learning from the comfort of your own home.

This is perhaps one of the best reasons for taking courses online. Many who have retired but want to pursue further education may sometimes feel uncomfortable or out-of-place learning alongside those who are much younger than you. With online courses, you can skip out on that tedious classroom environment altogether.

2. You can gain knowledge while honing your technology skills.

This is another great reason, particularly for baby boomers, who may not know their way around computers and the Internet as much as they would like. Online classes force you to become more adept at using computers through mere exposure.

3. It's much more economical than taking adult or continuing education classes.

Baby boomers are an intellectually curious bunch, as the popularity of adult and continuing education classes demonstrates. Having worked at a continuing education school offered at university before, I know that classes can often be very expensive. Courses online are substantially cheaper (sometimes free!) and much easier to register for.

4. All you need is a computer and Internet connection, so you can still take classes and travel.

Baby boomers are constantly traveling, so perhaps your concern about continuing your education is that you'd have to give up your wanderlust lifestyle. With online courses, the classroom essentially becomes anywhere you want it to be, as long as you have your laptop and access to the Internet. Some courses may require books, but almost all the information you need can be found online.

After retirement, continually challenging yourself is extremely important in keeping both your body and mind fit. Online classes offer an easy and affordable way to keep your mind still going. For more information about online classes, check out this AARP article on e-learning.

Author Bio:

Maria Rainier is a freelance writer and blog junkie. She is currently a resident blogger at First in Education where she writes about education, online colleges, online degrees etc. In her spare time, she enjoys square-foot gardening, swimming, and avoiding her laptop.

Grants for Adults Returning to College

NRC Chairman Klein Presents Grant Money to University of Illinois (Photo credit: NRCgov)

For 2016 an up-to-date list of current active scholarships and grant programs at the end of this post.

Many adults have never finished their college degrees or even started them. Through the many twists and turns of life we just don't do it. Either family needs take precedent or we just don't have the money. Today many adults are returning to college to start or finish a degree. 

They now have the time or have changed jobs forcing the question of returning to school to the forefront. They never have realized that there are many grants available, specifically for adults returning to school.

A grant is money given to a student that does not need to be paid back when they complete their degree. Some grants are one time events, while others are renewed yearly, as you progress through school. Usually grants are given based on your financial needs or provided when you chose a specific path of study.

Even though you are working full time, this doesn't keep you from obtaining money for college tuition. For adult students you don't have to sign up as a full-time student to receive grant money. Adult grants understand that you still have work and family obligations to juggle while going to school.

Federal Education Grants.

The largest government grant option is called Pell Grants. This money is given to you and does not have to be paid back. For the 2010-2011 school year, the value of the federal Pell grant was $5,550. In order to qualify annually for a Pell grant, you must be working toward a degree.

To apply for Pell Grants you must complete the Free Application for Federal Student Aid (FAFSA) forms. The FAFSA forms must be completed annually to continue to receive government grants. Income information is necessary for completing FAFSA forms, so it is helpful to submit your tax forms early and have your most recent tax return documentation available when you complete the forms.

You must apply before June 30th, but if you submit in early February you will get a quicker response and more grant money than those that wait till June. There is a limited amount of money and the sooner you apply the better. FAFSA forms and information can be found here: Fafsa.Gov.

Federal Supplemental Education Opportunity Grant (FSEOG).

This other federal grant is offered by the government for people with a greater financial need. Also there are grants offered based on gender, race, nationality, and other specific groups. To find other government grants, visit Students.Gov

State School Grants.

Even some states offer grants to students who attend their state college or choose a specific career path. Some states are in need of teachers so they offer specific grants for that vocation. Check your states government website, education and grants section, for more information.

College Grant Providers.

Colleges themselves often have grant monies available for students. Some colleges have separate programs for adult students, and corresponding grant programs to assist the students with tuition costs. Whether the college has a separate program for adults or not, the financial aid officers at the college should be able to direct adult students to specific grant and scholarship programs that can assist them.

Employer Grants.

Many larger companies offer grants or tuition reimbursement programs for employees that want to continue their education. Check your companies human resources department for more information.

Community Grants.

Many cities have organizations that offer grants and scholarships to adults students going back to school. Many scholarships are available by a variety of clubs, organizations, civic groups, and religious organizations. The only problem is there is no one source to track down these services. You will have to use the phone and Internet and search for these organizations one by one.

Though many grants and scholarships are generous in the amount of money they offer, remember they will not cover the totality of your education costs. You still need to have some money saved for uncovered expenses. You could fill in your need for money by taking loans, but it may be better to pay for education when you have the cash available.

Update for 2016. Here is an up-to-date list of current active scholarships. 

• Visine Students with Vision Scholarship Program
• National Hispanic Health Foundation Scholarship Program
• College Scholarships and Grants Available for Veterans
• American Psychological Association Scholarships, Grants and Awards
• State Farm Grants and Scholarships
• The Rover College Scholarship
• NSHSS Foundation STEM Scholarships
• Scholarships and Fellowships | UNCF Merck Science Initiative
• Green Home Improvement Scholarship
• Microsoft College Scholarships

List courtesy of educatorlabs.org

A few more Scholarships to update the current list.

• Global Scholarships (globalscholarship.com), a scholarship search engine
• Awareness of Smoking Essay Contest Scholarship
• Verne LaMarr Lyons Memorial Social Work Graduate Student Scholarship
• Veterans Make Great Technology and Engineering/STEM Teachers Scholarship
• The Mary Blake Single Parent Nursing Scholarship
• Kosciuszko Foundation Tuition Scholarships for Polish-American Students
• James & Patricia Sood Education Studies Scholarship
• Boom & Bucket is offering a scholarship of $1,000 to be awarded each year to a student pursuing a heavy machinery-themed program
• Student Financial Aid Search Engine: Find & Apply for Financial Aid to Pay for College
• Geneseo Migrant Center Scholarships for Migrant Students
• Print and Graphics Scholarship Foundation Scholarships
• Society of Women Engineers Scholarship Program
• ENTELEC’s Wayne V. Black Scholarship
• VFW Auxiliary’s Young American Patriotic Art Contest
• NOAA’s Ernest F. Hollings Undergraduate Scholarship
• Jeannette Rankin Women’s Scholarship Fund
• Diabetes Scholars Foundation
• Common Knowledge Scholarship Competition

List courtesy of outsidescholarships.org

Money Matters for Parents of Teenagers

Many parents are responding to the financial crisis by teaching their kids more about money. They are making sure their children are learning the lessons of today's financial difficulties. 

Most families have made it a priority to teach their children the proper way to handle money. Showing them how to use a checking and savings account was always a normal step in their development. But today it is regarded as a high priority in preparing our kids for the future.

In a recent study, the findings revealed, 58% of parents in the United States report talking more about money with their children in the past 12 months than ever before, and that 92% of parents say they feel personal finance and financial education should be taught as part of the school curriculum. The studies results were surprisingly one sided in the extent of the parents emphasis that their children were being educated in the schools curriculum on matters of money and money management.

Parents wanted their children to be taught the basics of money management and they were willing to work with schools by reinforcing lessons at home. The three elements in money management that they wanted especially taught were those listed here:

1. An allowance or earning money from chores.
This is where parents are the most confused on what to do. All money situations are opportunities to teach. Remember that your trying to solve a problem now but be careful you are not teaching them a bad habit that will hurt them when they are adults. Allowances are the old fashion way we all grew up with. Allowances were akin to charity, their was no work performed. But in my family, there were no allowances. It was Work = Money, when you performed a task around the house you received compensation. It taught that money did not come until work took place first. It was a good lesson that stood with me even till today when I use the same idea on my children.

2. Planning where money is going to be spent.
Yes, even children must learn how to budget their money. When they blow all their money as soon as they get it in their little hands, history will repeat itself if the parents don't step in and teach how to make a spending plan. "Spending plan" is a nicer way to say budget. A spending plan gives a feeling of being in charge of your money while budgeting sounds like work. How you explain an idea is as important as what the idea is.

This spending plan will also encompass lessons that children need to learn how to determine a want from a need. Also the postponement of pleasure now, for a greater benefit later. If you can get your teenager to learn that, you are making a major accomplishment.

3. A plan to save money.
It's hard for even adults to know the right amount to save depending on personal circumstances. But with children it is easy. They can just set up a percentage of 25 or 33 percent of their money into a savings fund. It can be in a bank savings account or in a sealed jar where they can't get at it. When they see their money growing it will make them feel a sense of accomplishment and encourage them to do more. This lesson is one that hopefully follows them into adulthood.

All parents hope to that their children can learn these lessons. These lessons have always been the foundation of money management. With lessons and curriculum at school, reinforced with real life lessons at home, our children will have a firm foundation to stand on in adulthood.

3 Alternatives to Rising Prepaid College Plans

Image via WikipediaThe costs of a college education continues to rise every year. Many parents fear that college tuition will someday be unaffordable. In Florida, we have two options that the state provides to pay for future college costs. We have a prepaid college plan and a 529 plan.

Over the last few year the costs of the prepaid plan have skyrocketed. Now to enroll in the plan it will cost you $49,293 for four years tuition at a Florida public university. That comes to $298 per month until October before the child graduates from high school.

Florida Prepaid administrators blame it on a law that allows public universities to make hefty increases in tuition and other fees. The universities blame it on the economy.

To put it in perspective, I purchased this plan for my 11 year old when she was born and it only costs me $61.00 per month. So you can see why the current fees are so crazy.

What to do?

There are always alternatives. The safety of the prepaid plan versus the market risk of the 529 are features that must weighed by the parents. The time span for accomplishing the goal is a big benefit. But a few ideas below will get you started.

1. Take half of the $300 and invest it in a tax-free 529 College Savings Plan. The $150 put away ever month, should after 17, grow to $54,00 at an interest rate of 6%. But their is always stock market risk to consider.

2. A cheaper Prepaid Plan for enrolling in a 2 year community college plan would only cost you $48.00 per month. This would get your child halfway there on a college education. You could either borrow the rest or work during the the first to years of college and save the money for the last 2 years of tuition.

3. You could do a combination of both plans . Saving in a 509 college plan and paying for one of the cheaper prepaid programs.

The time will be here before you know it. Saving for college comes down to putting away a little money each month. It's the consistency of saving regularly and the accumulation over time that will result in the goal.

Need Help Paying For College, Try FastWeb.com They Will Help You Find A Scholarship

College tuition has just gotten more expensive for me. My daughter is currently starting her third year of college. She is studying Psychology and really likes it. I have been paying for it through FASFA, my money and the help from a grandparent. My problem is the grandparent has dropped out because of financial difficulties. To fill in the gap I started to look into scholarships. I never went down the road to scholarships before, but that's all changed now.

I came across a website called FastWeb.com. FastWeb.com has listings for 1.3 million scholarships worth over $3 billion. Before you can see the list of scholarships, you need to register. You are asked a lot of questions so you won't waste your time on scholarships that don't apply to you. You give them your email address the student's age, year in school, GPA, college major among other things and more.

This FastWeb.com service is provided to you free. The way they make their money is through advertising. While you fill out the information forms you are offered advertising for many non-academic sources like credit cards and contests. Ignore all that and press on. It will take you 10 to 15 minutes to complete the profile, but this will help you get better search results.

Once you finish registration, the website presents you with a list of scholarships that match your profile. The list contains the name of the scholarship, the amount, the deadline, type(whether they are scholarships, contests or require an essay). You can save your selections or mark those you don't want. 

FastWeb.com provided me with 25 potential scholarships. Some were straight scholarships, some were contests, promotions, grants, and essay contests. 

Fastweb.com list of features are:

• Search for local, national and college-specific scholarships.
• Personalized matching service.
• Search and compare your options.
• Tools and tips to help pay for college.
• Jobs and internships for students.
• Resources: articles and information.
• College search.
• For parents, students and educators.

There is a thorough customer service section which includes a FAQ. There is also an email address for questions.

What is Student Loan Forgiveness and Where Can I Apply?

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Your just out of college and you have a large student loan. What can you do about. Under certain circumstances the federal goverment will cancel all or part of you student loan. This is what "Loan Forgiveness" is. To qualify you must do one of these four things:

• Perform volunteer work.
• Perform military service.
• Teach or practice medicine in certain types of communities.
• Meet other criteria specified by the forgiveness program.

Volunteer Work

These volunteer organizations offer loan forgiveness:

AmeriCorps. Serve for 12 months and receive up to $7400 in stipends plus $4725 to be used towards your loan. Call 1-800-942-2677.

Peace Corps. Volunteers may apply for deferment of Stafford, Perkins and Consolidation loans and partial cancellation of Perkins Loans (15% for each year of service, up to 70% in total). Volunteers make a real difference in the lives of real people with two years of service in more than 70 developing countries. Contact the Peace Corps at 1111 20th St., NW, Washington, DC 20526 or call 1-800-424-8580 or 1-202-692-1845.

Volunteers in Service to America (VISTA). Volunteer with private, non-profit groups that help eradicate hunger, homelessness, poverty and illiteracy. Provide 1700 hours of service and receive $4725. Call 1-800-942-2677 or 1-202-606-5000.

Military

Students who are in the Army National Guard may be eligible for their Student Loan Repayment Program, which offers up to $10,000. (Note, the military and veterans' associations provide many scholarships and tuition assistance programs.

Teaching

Students who become full-time teachers in an elementary or secondary school that serves students from low-income families can have a portion of their Perkins Loan forgiven under The National Defense Education Act. This program forgives 15% of your loan for the first and second years of teaching service, 20% for the third and fourth, and 30% for the fifth. Contact your school district's administration to see which schools are eligible.

Legal and Medical Studies

Many law schools forgive the loans of students who serve in public interest or non-profit positions. For more information, contact Equal Justice Works (formerly the National Association for Public Interest Law) at 2120 L Street, NW, Suite 450, Washington, DC 20037-1541 (phone 1-202-466-3686 or fax 1-202-429-9766). The American Bar Association (ABA) also has a summary of Loan Repayment Assistance Programs (LRAP) and State Loan Repayment Assistance Programs.

The US Department of Health and Human Services offers loan forgiveness programs through the National Health Service Corps and the Nursing Education Loan Repayment Program. These programs offer loan forgiveness to physicians and registered nurses who agree to practice for a set number of years in areas that lack adequate medical care (including remote and/or economically depressed regions).

The US National Institutes of Health's NIH Loan Repayment Programs repays up to $35,000/year of student loan debt for US citizens who are conducting clinical medical research.

The US Department of Agriculture's Veterinary Medicine Loan Repayment Program (VMLRP) offers loan forgiveness of $25,000 per year for three years for veterinarians who commit to work in a veterinary shortage area for three years. The application deadline is June 30.

If you're a California resident, contact the Office of Statewide Health Planning and Development (State Loan Repayment Program, 400 R Street, Room 330, Sacramento, CA 95811; 1-916-326-3745). Other states may have similar programs.

Many hospitals and private healthcare facilities use loan forgiveness to recruit occupational and physical therapists. Contact the American Physical Therapy Association (1111 North Fairfax St., Alexandria, VA 22314-1488; 1-800-999-2782) or the American Occupational Therapy Association (P.O. Box 31220, 47200 Montgomery Lane, Bethesda, MD 20824-1220; 1-301-652-2682).

Other loan repayment programs for medical school students include:

• Nicholas J. Pisacano MD Memorial Foundation Inc. (American Board of Family Practice)
• American Academy of Family Physicians Foundation
• Disadvantaged Health Professions Faculty Loan Repayment Program
• Indian Health Service (IHS) Loan Repayment Program
• US Air Force, Army, and Navy Financial Assistance Programs
• The American Association of Medical Colleges (AAMC) maintains a database of state and other loan repayment programs for medical school students.

Other Paths to Forgiveness

Students who receive the Michael Murphy Loan to study law enforcement, law, probation and parole, penology, or other related fields are eligible to work off one-fifth per year as a State Trooper (or related law enforcement official) in Alaska. Contact the Alaska State Troopers, Director's Office Scholarship Fund, 5700 East Tudor Rd., Anchorage, AK 99507; 1-907-269-5511.

Maryland state and local government employees who earn less than $40,000 gross annually may be eligible for a loan assistance/repayment program to study law, nursing, physical and occupational therapy, social work and education. Contact the Maryland State Scholarship Administration, 16 Francis St., Annapolis, MD 21401; 1-410-974-2971 x146.

Federal Government Loan Forgiveness Programs

Perkins loans and Stafford Loans can be cancelled for full-time service as a teacher in a designated elementary or secondary school serving students from low-income families, special education teacher (includes teaching children with disabilities in a public or other nonprofit elementary or secondary school), qualified professional provider of early intervention services for the disabled, teacher of math, science, foreign languages, bilingual education, or other fields designated as teacher shortage areas, employee of a public or non-profit child or family service agency providing services to high-risk children and their families from low-income communities, nurse or medical technician, law enforcement or corrections officer, staff member in the educational component of a Head Start Program, service as a Vista or Peace Corps Volunteer and service in the Armed Forces (up to 50% in areas of hostilities or imminent danger)

These are but a few places that may suit your needs to help you pay back your student loans. There are more depending on your occupation.

Related articles

• Student Loan Forgiveness (studentloans.net)
• The Top 10 Student Loan Tips for Recent Graduates (education.com)
• Defer Student Loan Payments to Stay Afloat (usnews.com)

Are Todays Kids Smarter About Money

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Kids growing up today are surrounded by every kind of electronic gadget. If I want to know how to search for something on Google or hook up a Blue-ray player all I have to do is call one of my kids and it's done in a flash. While I'm left in the dust scratching my head, they're already gone with their Ipod on their head.

Kids today can pick up on technology quickly, but are they also savvy with their money? Our children are smart, they know money doesn't grow on trees, it comes from a ATM. They know right away when Mom says they can't afford a toy, to urge Mom to charge it. The children are watching us use our debit and credit cards, they see us order goods and pay bills online. They know those little cards of plastic are able turn thin air into money at anytime, only later observing mom and dad blaming each other for the purchase.

What is it with these kids, they're supposed to be so smart. When we were kids our only financial tool was cash, there were no credit cards. How did we manage? The answer is fine. We managed very well because we spent when we had money and not when we didn't. If we want to make a large purchase in the future we used the ancient practice of saving up for it. 

So what does it take to teach your kids the skills and discipline they need to make the American dream come true for them? The same four simple strategies that have been deployed by parents since Ozzie and Harriet.

1. Give youngsters an allowance, to prove to them that there are limits to spending.

2. Pay them for out-of-the-ordinary chores, to show them that effort produces rewards.

3. Encourage them to save, so they become accustomed to delaying gratification.

4. Teach them the basics of investing, so they have the opportunity to make their savings grow.

But I found the most powerful tool when teaching kids about money is your own example. If you give money to your kid grudgingly, that conveys something to your off spring. Also if your always frazzled about your maxed out credit cards, they will see that. Whether you donate to charity, return the difference when the cashier hands you to much change, or brag about how cleverly you cheated on your taxes all send teaching messages to your kids on a regular basis. Junior will pay more attention to what you practice than what you preach.

Next bring your kids into some of the family financial business. Not how much you make or how big your 401k is. Decisions like your not getting a new car now because you saving for college expenses next year. Over time junior will get a sense on the limits to what the family can and cannot spend.

Your teaching them the difference between wants and needs, a lesson our youth desperately needs to learn. 86H386N4P4HJ

Related articles

• Are prepaid cards right for your kid? (money.cnn.com)
• The Art of Raising A Money Superstar (daveramsey.com)
• Why Preparing Your Children for Their Financial Futures Might Cause Déjà Vu (blogs.forbes.com)
• Giving the Gift of a Savings Account (visualeconomics.com)

Rewards For Good Grades: Right or Wrong

It's getting to be that time of year for report cards to come out. Do you ever use money or rewards for good grades? Is it an effective way to encourage a good report card. On the flip side do you punish when grades are not where they should be?


When I was young, my mother would reward me with quarters and dollar bills depending what grade I received on my report card. It was a wonderful reward but really didn't encourage me to do better in school. A fear of punishment was a greater motivator.


It seems parents try to use any kind of motivator to get their kids to do well in school. Even the public school system in some states use a cash reward or gift reward to encourage the students to improve their grades.


Many say we are harming our children by teaching them to do things just for money. To give them money is just wrong and sends the wrong message.


Using money as an incentive can be appropriate if you give small amounts under the right circumstances. For example, rewarding your kids after the fact for behaving well at the supermarket instead of promising them money ahead of time if they don't throw a tantrum. This is not the proper use of the money reward function. Those kids just need a good spanking to encourage proper behavior. The reward comes only from work, not behavior.


Rewarding our kids with money is teaching them the work structure they soon will grow up to be in. That working at your job, producing a service or product for a boss is what you are compensated for. Work for compensation is what we all do everyday. The payment for grades, if done right, will instill in them the equation of Work=Money.


The proper execution of rewards for grades are important. Only top grades are rewarded. Money, if substantial, must be saved for later needs. If the reward money is small then they can spend it on their needs.


The message we are trying to send is that work produces reward. No work or poor work results in zip or punishment. The reward is not a bribe, it's an incentive.


What do you do if junior just refuses to work. We all have one in the house that's like this. Hopefully it's not for long while you adjust behavior with punishment. You have to find a way to promote good actions with a positive reward.


This reward for good grades has been a tool for encouraging hard work for many years. Only when it's used in an extreme way does it get a bad reputation. In moderation it works.

Related articles

• What Would Motivate Our Kids? (coopcatalyst.wordpress.com)
• Report Card Time (wflcenter.wordpress.com)
• Okla. Schools Reward Good Grades With Cell Phones & Minutes (huffingtonpost.com)
• How Should Parents Handle a Bad Report Card? (learning.blogs.nytimes.com)
• Financial reward undermines intrinsic incentives. (mindblog.dericbownds.net)