Sound Financial Advice

Another excellent article by Washington Post financial columnist Michelle Singletary. This time she reviews a couple of books on how to finance a college education as part of her series on financing college. She will be doing online chats on these books as part of her "Color of Money Book Club" so if you are interested in participating read the article below.

A Crash Course In How to Pay For College
from the Washington Post
During a workshop in which I was teaching preteens and teenagers how to create a budget, I asked one 16-year-old if she was planning to go to college."Absolutely," her mother volunteered. And how, I asked the mother, will you pay for her college education? "Oh, we plan on her getting scholarships," the mother responded. What if she doesn't get any scholarships or grants? I inquired. I got a blank stare--like the look in the eyes of a deer that once ran into the driver's side of my van. To read the rest of the article click here.

I don't know much about the blog that this piece came from but this particular entry is pretty neat. A lot of sound, common sense financial advice that college students should read to get a handle on their financial lives.

55 Tips to Help You Zap Your Student Debt
sent to me by a blogger
Nearly two-thirds of college students borrow to pay for school, with an average loan debt of nearly $20,000. Ten percent of parents borrow an average of $16,218 to finance the education of their children. These figures account only for undergraduate education. Graduate degrees can pack on an additional $27,000 to $114,000 in student debt. So, you could be easily paying off the money way into your 50s if not 60s. And no, wearing yourself out working two or three jobs just to repay your loans is not the solution. A few simple tips, and some plain common sense, can save you a lot of money and heartburn later. To read the tips click here.