college – Carol H Cox

December 22, 2017February 1, 2018

6 Things College Students Need to Know About Credit Cards

By Carol H Cox

Credit cards are a fact of life for many young adults. They make paying for things more convenient, they can be used to build good credit (or bad), they can be used to make purchases in most places, and they can be welcome resources in an emergency.

In short, they can be very valuable, and a lot of college students have them. (Based on a recent FICO study, 67% of 18 to 24 year-olds have credit cards.) But in order for credit cards to be a positive rather than a negative factor in a young adult’s life, they need to be cared for carefully. You don’t want to take them for granted.

Just like a car, they have to be regularly maintained. If you had an auto and didn’t maintain it, failed to give it regular oil changes and tune-ups, eventually the vehicle would cease to run. After a while it wouldn’t be safe to drive, and one day it would leave you in the lurch somewhere.

Credit cards are the same way—if you neglect them, they can make your life miserable.

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March 31, 2017August 10, 2018

Student Loans: Think Carefully

By Carol H Cox

photo: www.cafecredit.com

It’s no secret that American private colleges and even many public universities are absurdly expensive these days. In the process of weighing acceptance options, high school seniors will be reviewing financial aid packages and may be considering signing up for student loans. It’s important for everyone involved, students and parents alike, to educate themselves about what a student loan really involves.

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October 4, 2016January 31, 2018

Personal Finance Tips Before Heading to College

By Carol H Cox

At this time of year, the attention of many high school seniors’ becomes focused on transforming into college freshmen. It’s a thrilling time for young adults as they experience increasing independence, emotional untethering, and face new challenges. But before they “cut the cord” there are a few personal finance basics they should know.

Having a checking account with an ATM/debit card attached can make handling student finances easier.

Ideally, with the help of a parent, college-bound teens will have opened a checking account sometime during their junior or senior year of high school. Checking accounts are a convenient and easy way to store and access money. And most student checking accounts are free until the accountholder graduates from college. There will be many expenses in college that aren’t included with the payment of tuition, room and board, and fees, whether it be books, class supplies, toiletries, meals off campus, transportation costs, or other things. Using an ATM/debit card or writing checks can be an efficient way to handle these costs.

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September 15, 2016January 22, 2018

Help Is a Text Away for Students Sorting Through College Financial Aid and Loans

The statistics are frightening. Americans hold $1.3 trillion in student loan debt. This represents years and years of hefty loan payments for millions of citizens. High School students and college students, need assistance understanding the financial aid and student loan process so that they can make the best financial decisions for themselves.
There’s a startup company that wants to be a sort of financial-aid-counselor-in-the-pocket for students. It’s called NextGenVest, founded by Kelly Peeler. According to a NerdWallet analysis, in 2014 as much as $2.7 billion of free federal financial aid went unclaimed by students, mainly because of either a failure to file or incorrect completion of the Federal Application for Student Aid (FAFSA). This is free money that students didn’t receive. And what is more, in 2014 graduating college seniors carried $28,950 in student loans with them when they left school (the Institute for College Access and Success report).

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July 25, 2016January 31, 2018

College Tours

By Carol H Cox

For many of us, summer is the best time to head out with our son or daughter to view some prospective college campuses. Trekking to a few schools can help to underscore in the mind of high school students the importance of the college application process, as well as give the flavor of different schools.

Recently, my daughter, husband, and I visited 4 colleges in Southern California. Afterwards we hashed over each of our personal likes, dislikes, and general impressions of each school. And I jotted down a few notes, to have a written record of our visit. (My memory is famously unreliable.)

If your student plans enough ahead, he or she can arrange to get an organized campus tour led by a student. (We managed to go on tours for half of the colleges we visited.) This is the preferred method to get introduced to a school. Instead of blindly ambling around on your own with a campus map, a student-led tour can give a lot of behind-the-scenes information and a youthful perspective on what college life is like at a particular campus. Some schools also offer tours of the dormitories, where you can go inside a dorm room and experience the limited dimensions firsthand.

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