All across the land parents are in shock. They’ve just opened the first of many bills for college and the numbers aren’t pretty. Combined with meal plans, housing costs, spending money, books, fees, and tuition college expenses total more than they ever imagined. Even considering all the pre-college expenses they paid, they’re still in shock.

Even though your new student has entered college, there are still some ways to defray some of the costs by applying for financial aid, loans, and even scholarships! Even if your student opted to go for an online degree, financial aid options are still available (getting a degree online is a great way to reduced college costs).

“Sending a kid to college is like buying a new car every year … and never getting to drive it.”  — Anonymous parent

Financial Aid

Most schools award financial aid in the spring, but if your college bound student has already entered school and you’ve experienced some financial setbacks, you might be able to convince the student financial aid office to reconsider your situation. Most aid is awarded based on last year’s tax returns, but schools can consider your current year’s income and assets.

The key to getting the help you need is documentation, documentation, documentation. Have copies of any documents to prove you’ve had a financial setback – medical bills, unemployment paperwork, or paycheck stubs.

Scholarships

Scholarships are awarded in the spring, but many go unclaimed. Take some time and research available scholarships to see which ones your student may qualify for. Take the next step and ask if money is available year round for those in need. Asking is free.

Parent Loan for Undergraduate Students

Also known as a PLUS Loan, this loan is made to the parents. Its repayment schedule can be delayed until the student graduates and currently has a fixed rate of 8.5 percent.

Typically, PLUS Loans do not require a very high credit score, but a bankruptcy or a home foreclosure could derail your application as could defaulted loans or those more than 90 days past due.

BUT, if you are rejected for a PLUS Loan, you are automatically eligible for a higher limit on the most popular student loan, the Stafford Loan.

Stafford Loans or Federal Student Loans

This is the type of student loan I received and the one that helped me finish my degree and later, to help me get an MBA. It’s the most common student loan most students receive.

Stafford loans are available to all full-time students regardless of income or need (certain limits do apply). Right now a Stafford loan’s fixed rate is 6.8 percent and, depending on your classification in college, you can annually borrow $5,500 (freshmen), $6,500 (sophomores), or $7,500 (juniors and seniors).

Private Loans

Private educational loans from financial institutions haven’t completely dried up, but the credit crunch has caused them to severely shrivel. I’ve heard that some credit unions are beginning to loosen the purse strings and are offering very good rates. Try visiting www.studentchoice.org and search for participating credit unions.

Loans MUST be repaid!

Most of you are thinking, “DUH!” but there are more and more people out there that are bemoaning the fact that they have to repay student loans. Failure to do so will damage your credit score and most student loans aren’t eligible to be included in bankruptcy. So plan now to make your payments!

[tags]financial aid, college tuition, tuition, college expenses, scholarships, student loan, PLUS loan[/tags]

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Sallie Mae and Gallup teamed up to determine how families really pay for college and the results were surprising – at least to me. Interviewing 1,404 respondents by telephone from May 1, 2008 through June 1, 2008, the study found that the majority of student’s expenses are absorbed by their parents.

Average percentage of total cost of attendance paid for each source

• 36 percent of expenses were paid by parental savings or income
• 25 percent of expenses were paid by grants or scholarships
• 14 percent of expenses were paid by student borrowing
• 10 percent of expenses were paid out of student savings or income
• 9 percent of expenses were paid by parental borrowing
• 6 percent of expenses were paid by friends or relatives

Remember, this is how the average family paid the total bill. Those number change drastically depending on parental income. As parental income decreased, the amount of grants and scholarships rose. If you’re like the average American, you’ll use a similar combination of these options.

That means that 71 percent of college expenses were paid without borrowing and that’s great, but 5 percent of students paid their college expenses with a credit card (ugh). Buried down in the report was an interesting little nugget: Families who BORROWED, spent more money than those who didn’t, exceeding the non-borrowers by 33 percent!

This finding would seem to support the oft cited axiom that borrowed money is more easily spent than non-borrowed money.

What are your plans to pay for college? Will you borrow? Is it worth it? Have you made plans to finish your education?

The full PDF version of the report is available.

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Getting a student ready to go to college will surprise you financially. While most families focus on saving for tuition, room and board, textbooks, and other actual college related expenses, the pre-college time period also involves expenses that can quickly add up to thousands of dollars and there aren’t scholarships to pay these costs! What costs?

Standardized test fees. Nearly all colleges require incoming freshmen to take at least one standardized test, such as the SAT, ACT, or various AP exams. Costing $15 to 85 to take each test (retakes cost the full amount) the costs can add up quickly. Some students will take a test four times or more in the hopes of getting a better score. Students with demonstrated financial need can qualify for fee waivers or reductions. For more on SAT, and AP fees, see www.collegeboard.com. For more on ACT fees, see www.actstudent.org.

Test prep courses and materials. Back when I took the ACT, I woke up one Saturday and went to the testing site and took it. No prep, no study, no tutors. However, most students today prepare to take standardized tests by using some form of test prep, which ranges from books ($20 to 50 each) to private tutoring ($50 to 100 per hour and up) to taking an entire test prep course ($500 to 3,000 and up).

Application fees. Virtually all colleges charge a nonrefundable application fee of $50–250. Even the 150 schools that use the Common Application (a standardized application form) still require that you pay an application fee for each separate school applied to. Not all schools charge application fees, and again, some students with demonstrated financial need can qualify for fee waivers. For a list of schools that accept fee waivers, or that don’t charge fees, search for “fee waivers” on www.collegeboard.com.

Campus visits. Ah, the college visit. Students generally visit each college or university to which they plan to apply in order to “get a feel” for the school. These visits, which usually take place during the junior or senior year of high school, might include hotel, food, and gas or airfare expenses (though the actual campus tours that colleges conduct usually are free). Don’t forget the obligatory trip to the campus bookstore to buy a t-shirt. Expect to spend at least a few hundred dollars per campus visit.

Tuition deposits. I never had to pay a tuition deposit but they’re becoming more common. You can expect to pay a fee of $100 to 2,000 or more to guarantee your student’s spot at any college which which accepts him or her. In the best-case scenario, the student will be admitted to at least one school and will choose one to attend and, you’ll pay just one deposit with the school crediting the amount you pay against tuition once the student enrolls. In the worst-case scenario, your student will be accepted to some schools but remain on the waiting list at others. In that case, you may end up having to pay several nonrefundable tuition deposits at once, only one of which will be credited against your student’s actual tuition.

Moving. Most parents manage to move their kids to college by packing up the car and driving to the school. In this case, expect to spend money on gas, food, and maybe an overnight stay. If air travel is involved, though, you’ll have to pay for plane tickets and shipping costs, which may add several thousand dollars, depending on the distance, number of travelers, etc.

Personal expenses. This category includes all the expenses you’ll face to get your child set up at college such as furniture, clothes, a computer, bed linens, and more. Though you’ll likely be able to bring some of these items from home, you should still expect to spend at least another $500 to 1,000 on personal expenses before college starts.

The final tally will vary considerably based on the number of schools to which your child applies, the distance from your home to the school, what items he or she can take from home, and so on. Altogether, though, you can expect to spend roughly $1,000 to 5,000 on pre-college costs alone. And that’s before he or she has even taken one class!

Shocking isn’t it?

Note: Only Coverdell Education Savings Accounts—not 529 plans—can be used to pay for pre-college costs.

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The way I define assets has changed. I formerly thought of an asset as something that held value – a vehicle, a home, a piece of equipment, furniture, or a piece of real estate. My definition of an asset has changed to “anything that produces a stream of income, particularly if it produces income greater that outpaces the rate of inflation.” Under that definition, very few items cut the mustard. A paying job is the one thing that always qualifies as an asset, especially in a recessionary environment. But a “job” isn’t tangible, it’s YOU that is the asset, and increasing your value at work is the surest way to secure your future.

Learning strategies, techniques, and tactics to increase your value in your boss’s eyes is something that we all should be undertaking. In all reality, losing your job at this point would be disastrous for the average person, since few employers are interested in growing their staff or increasing their payroll. Increasing your value should be high on the priority list!

1. Learn a new language. There’s a very good chance your company is international or is affected by international events, or deals in some way with international customers, suppliers or vendors. If you’re the only person at your company fluent in Mandarin Chinese and you frequently purchase goods from China, your value just skyrocketed. If your company frequently sells to Latinos, learning to speak Spanish, when highlighted against the backdrop of your experience with the company, will make you stand out from your peers.

2. Further your education. Advancing your career by getting more education is how countless thousands have already made themselves more valuable at work. The fact is, by brushing up on skills valued by your employer, you automatically increase your own value. There are endless possibilities to further your education with schools such as Le Tourneau, Northeastern, George Washington University, or Colorado Tech that all offer online programs. You can advance your career while still working WITHIN your career.

3. Enhance your critical skills. Could there be a more important skill than time management? When you learn to plan your weeks and organize your days based on your highest priorities, you’ll discover the peace of mind that comes from having a clear goal and a path to reach that goal. You’ll enjoy the well-being that results from a life in order. Your personal organization skills are obvious to most people in your company and using tools such as those offered by Franklin Covey, will help you be more organized and look it.

4. Broaden your contacts. Make sure you’re a recognized presence within your company. If you’re a nobody to everybody, then no one will miss you and you’re more likely to be on the next list of lay offs. Set up networking contacts in as many levels of your company as possible, from the entry level newbie to the administrative folks all the way up to the executives. When the boss is forced to make a decision about you or your position, your colleagues will have you in mind not only as someone that’s pleasant to have around, but will also be more likely to speak up about your positive contributions within the organization.

5. Network outside of your company. Your boss probably knows people in your industry outside your company, so should you. Network with other people inside your industry as well as with those in other industries. Being well connected means you call on others to help you bring more ideas and innovation to your own firm. After all, those are the only things that truly separate one firm from another. Join the Lion’s Club, Rotary, or some other local civic organization and get involved. Ask to speak to the group about your company and it’s accomplishments. Become the “face” of your company and your value will increase rapidly.

6. Cultivate your work ethic. Designate at least one day per week to come in earlier than everyone else and one night per week to work later than everyone else. Write it in your calendar and stick to it, but make certain you’re using self discipline to get something accomplished during that time (a smokin’ game of solitaire doesn’t count). If you can manage to impress your boss with your proactive attitude, you’ll be much less likely to figure in the next round of pink slips. A good attitude and a strong work ethic do more than just preserve your role within whatever capacity you’re currently working – if your position is no longer necessary, you might be asked to stay on in a different capacity simply because you’ve proven to be an asset who produces desired results.

7. Make sure your boss is never blind-sided. Nothing can ruin your day like getting hit with a massive problem from out of the blue. If you have the slightest inkling about something negative on the horizon, make sure your boss knows about it. Never allow him or her to get waylaid, especially by his or her boss. Office politics is all about saving face and if you can help your boss avoid embarrassment or negative surprises, you’re a much more valuable employee.

8. Be the employee you would like to hire. Doesn’t this one sum it all up? Put yourself in your boss’s shoes and ask what qualities you would like in an employee. Then do your best to emulate those qualities in your work life.

Today, a job is a lifeline and it’s vitally important to move between careers on your own terms rather than have those terms forced upon you because you weren’t deemed as valuable as the person in the next cubicle. By taking steps to increase your value at work, you’ll be better able to keep your career on track and you’ll probably enjoy it more as well.

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We’ve been looking at our personal financial goals through the lens of a strategic business acronym called SWOT, which stands for:

Strengths
Weaknesses
Opportunities
Threats.

Today, we will look at threats.

What are the external threats to your finances?

Threats can take many forms. They can be large scale (major economic threats) or minor (that department head that just doesn’t like you). Whatever they are, your job in conducting a SWOT analysis is to reduce the dangers these threats represent. Since the health of our personal financial world is dependent on increasing income and decreasing expenses, it makes sense to look at those two areas for threats.

Income
What do you do for income? If you work for a salary, do you have that salary insured through disability insurance? Did you know that in any given year, you’re much more likely to get disabled than die? Remember that as a general rule, paying your premiums with pre-tax dollars means that any benefits you receive are taxable. That’s why I pay all my premiums with after-tax money.

Maybe you live off of interest. How diversified are your investments? Have you read the insurance that your investment adviser maintains? Is he or she a member of FINRA? Is he or she certified? Have you checked or did you just take it for granted because there was a certificate on the wall in a very expensive looking frame?

Related to income, how’s your life insurance? I believe that every person needs at least some life insurance. You may not have anyone dependent on your income, but who will pay your funeral expenses? Parents? Friends? Do you really want someone else to foot your final bills?

How about threats to your job? Is it secure? Are you sure? Are there any advantages you can give yourself such as additional certifications, finishing your degree, or training? Have you asked?

Expenses
Do you feel like your expenses are out of control? In what areas can you work to reduce those expenses? Here’s just a few indicators:

• A car payment that’s crushing your checking account
• A mortgage that’s about to adjust and you don’t think you can afford it
• Dining out far too often (hint: use Restaurant.com instead)
• Not putting anything (or minor amounts) in your savings account
• Putting large amounts in your savings account, but taking them right back out again for living expenses
• Escalating utility payments
• Paying for things you rarely use (gym memberships, premium cable, phone land line)
• High insurance premiums
• No retirement plans in place or making minuscule contributions
• High interest credit card debt
• Using a pay day lender

The most important “take away” is to do something to reduce the risk that these threats represent. What steps can you take?
1. Visit with a competent professional and get the proper amount of insurance for your budget.
2. Meet with the human resources department or your boss to get an idea about how to provide more value to your company.
3. Ruthlessly slash your expenses, eliminating those items that are eating you alive!

[tags]strengths, weaknesses, opportunities, threats, money, personal finance, personal productivity, goals, business, SWOT, discipline[/tags]

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Resolutions. Most people set them, then forget them. The problem with resolutions is that it’s socially acceptable to give up on them by the second week of January. If you don’t plan to begin working on your New Year’s resolutions until after New Year’s Day, maybe they weren’t really that important to you anyway. Another problem is that setting resolutions is usually indicative of procrastination … it’s an easy way to delay getting started on your goals.

Resolutions are usually all or nothing propositions. Nothing in life works that way, though, does it? Very, very few things are all or nothing. Most are just a matter of degrees. Couple this problem with how most of us set resolutions far too big and you have all the makings of giving up by January 5th.

Resolutions also tend to be negative and these negative resolutions have a smaller chance of success because we’re wired to DO something rather than to NOT do something. So …

Set goals instead of resolutions

A real goal is specific, measurable, achievable, realistic, and time based, the old acronym SMART. You’ve probably heard that one. But taking it a step further, I believe there are only four goals you can concentrate on at once.

1. A financial goal
2. A physical goal
3. An emotional goal
4. A mental goal

Why? This time of year, we experience resolution overload. By limiting your goals to four (at a time) you’ll have a much better chance of success! But even further than that, I believe you should have two major goals and two minor goals at one time. By limiting your focus to these four, I believe you can concentrate your efforts and actually change those goals into achievements.

You can always set another goal once you achieve one, but that’s really who and what you are: a goal achieving machine.

Financial Goals

Financial goals help you get your finances in order. The beauty of financial goals is that they can help you in the other areas (mental, emotional, physical) when you achieve them. Your financial goals could include:

• Establishing a realistic budget and sticking to it.
• Balancing your checking account every week.
• Paying off your high interest debts.
• Contributing the maximum to your retirement accounts.
• Paying off your mortgage.
• Reviewing your insurance needs and making any needed changes.
• Saving a specific amount each month for your children’s college education.
• Employing one or more of the 17 Sneaky Savings Strategies!
• Starting a high interest savings account for your kids or for a specific purpose (vacation, car, home improvement)

Physical Goals

Physical goals are things that will improve your body in some way. They could include:

• Drink 8 glasses of filtered water daily.
• Eat 5 servings of fresh fruits or vegetables daily.
• Do cardio exercise three times per week for at least 30 minutes each time.
• Get 7 to 8 hours of sleep at least 5 times per week.
• Perform a resistance workout three times per week.
• Ride your bike to work!
• Replace your smoking habit with an exercise habit.
• Lose one (just one!) pound per week by eating right and exercising.

Emotional Goals

Emotional goals deal with how you interact with others. They could include:

• Forgiving someone who has wronged you and moving on from there by just letting go of the bitterness.
• Recognizing the efforts of others (spouse, children, co-workers) and telling them how much you appreciate their contributions to your life.
• Starting a regular “date night” with your spouse or children.
• Opening up to someone you trust about your innermost fears, concerns, feelings, and aspirations.
• Living a life with more adventure by taking that trip you’ve been dreaming about.

Mental Goals

Mental goals are specific, conscious decisions to to do something to stimulate your brain! They could include:

• Reading one book that’s been sitting on your nightstand for the last 7 months.
• Joining a professional association and actually attending meetings and participating.
• Taking a course on a subject that interests you … and leaves you with a little more wisdom.
• Making a conscious decision to learn something new about a culture or belief system different than your own.
• Deciding to finish your degree, especially if you’ve regretted NOT finishing.

The most important thing is to set specific goals that you can attain. Get a journal and keep up with your progress and don’t be afraid to let me and everyone else know what you’ve been able to accomplish. I’ll be your biggest cheerleader!

[tags]resolutions, New Year’s, success, goals, online degree, lose weight, exercise, savings, retirement, relationships[/tags]

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One of the most UN-pleasant jobs I ever had was working as a debt collector. I wasn’t very good at it, actually, I was very bad at it. And I know why: I knew where these people were coming from! I understood their dilemmas and accepted their excuses. I didn’t last very long at that job, but I DID accumulate some valuable information on dealing with debt collectors.

Realize is that you DO have rights when working through debt collection.

These rights are spelled out in the Fair Debt Collection Practices Act. You can take the time to read all the lawyer speak in the actual law, or you can read the Wikipedia entry which is a little more reader friendly. If you have any questions, be sure and check with a qualified attorney before you take any actions.

As distasteful as it may seem to deal with these people, you can make it worse! Protect your credit score, protect your checking account, and protect your reputation by making sure you DON’T do these:

1. DON’T avoid them. This will only make them more aggressive. It’s like running from an animal that is trained to pursue. Answer your phone calls and do what you’ll say you’ll do.

2. DON’T lie to them. Get caught lying and you can find yourself facing a lawsuit. Additionally, since you’re usually behind on payments anyway, lying will only foster their disrespect for you. You have the money they want. Tell them what you can do and when … then do it.

3. DON’T bury your head in the sand. The problem will only get worse if you ignore the situation. Face it head on. Remember, you are the one in charge, not them.

4. DON’T bounce any checks. This is akin to lying and is a quick way to get into legal trouble. Know beyond a shadow of a doubt that your check is good.

5. DON’T allow yourself to be intimidated. Eleanor Roosevelt once remarked, “No one can make you feel inferior without your consent.” Don’t let the collector bully you. You are a human being and you deserve to be treated with respect. Besides, YOU have the money. You’re in charge.

6. DON’T make a promise you cannot keep. You may be tempted to promise a payment based on an anticipated future event. But, if something goes wrong, you have egg on your face and the collector will accuse you of lying. Only spend money you have in your hands. Only promise money that you control. No promises based on an upcoming bonus, none based on someone paying you back on a personal loan, none based on anticipated overtime. Spend ONLY the money you have in your control.

7. DON’T give the collector access to your checking account. Never give the creditor your checking account number or allow them to draft money from your account. I know of situations where a collector would draft more than agreed upon, would draft more than once per month, or draft on the wrong day, causing other checks to bounce. By the time you file claims and dispute their actions, you could get behind in other bills and find yourself with a negative balance in your checking account. Not good. Only deal with a collector via checks.

8. DON’T fail to dispute a charge in a timely matter. If the collector has popped another charge on you, you must file the proper claim quickly. Don’t waste time and wait around! The statute of limitations could be very specific depending on your state and if you wait too long, you could lose your legal right to dispute the claim.

9. DON’T sell what you bought on credit if you still owe money on it. The creditor will have a much stronger case against you because equity (in a car, home, or business) can usually be better protected from forced bankruptcy or default judgment than cash. Additionally, it may appear that you were committing fraud by buying something on credit, not paying for it, and then selling it for cash.

10. DON’T settle your debt without receiving confirmation in writing. The creditor has your debt obligation in writing, you need to do the same thing if you work out a settlement. After you pay the settled debt, make sure you get confirmation in writing that the account is closed. Also, check your credit report a few months later to see that your credit report shows “closed” or “settled” or “paid as agreed.” I would recommend that you negotiate the settlement to include a “paid as agreed” entry on your report.

Always remember that you have the money they want. They only get it when you decide to send it to them. You’re in control but you should always make sure you avoid these 10 DON’TS.

[tags]collections, collector, collectors, credit, debt, fair, fraud, legal, loan, money, payment[/tags]

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As a young child, we all have those dream jobs, firefighter, doctor, teacher, nurse, policeman, home-builder. As my life has progressed, my opportunities for education and various jobs heavily influenced my personal decisions, passions, and ambitions and it seemed that barriers were always in the way. Some barriers to finding my passion were real and some were imagined (I’m sure) but no matter, those barriers came between the real, practical, everyday me and the person I had at one time hoped to become. I DID discover that educational barriers had come down through online education, but others are still wary of this concept. Too bad for them. Some people, including me, may have accepted jobs that were very different from the career field imagined when younger, but which still met our family’s basic needs at that time. Immediate needs have done more to slaughter dreams than just about anything.

Over time, we may find that we have forsaken our dream job, our passion, and our sense of fulfillment. Don’t make that bad decision. Because happy and fulfilled people are healthier and more productive, it’s good to answer the following questions to see if we can reclaim our passion and our dream job, but first think about these three words:

Discover your passion.

Discover – to search out, to uncover, to find after searching.
Your – personal possessive pronoun. It doesn’t belong to anyone else.
Passion – powerful, intense emotions, enthusiasm, a love affair, a subject inspiring lively interest.

1. Is my life turning out the way I want? What would you have to do to take the next step in achieving those youthful dreams and aspirations you once had? What exactly would it take? Be specific and write it down.

2. Can you figure out what’s important to you? It may be time to reevaluate your personal values. If you like the outdoors and sunshine, working in an enclosed office probably won’t fit your personal dreams and passions. If you love to work with your hands, financial analysis and spreadsheets won’t cut the mustard.

3. Why do you need passion? When you’re doing something because you’re passionate about it, you’ll be better at it and more successful. If you don’t know what you’re passionate about, ask your friends and family, they know and they’re willing to tell you!

4. Have you lost passion for your work? Revisit why you originally liked your job and what made you feel fulfilled. List the things you do in your current job that give you a sense of fulfillment, and another list of the things you just don’t like. How can you focus on the important, fulfilling aspects of your job?

5. Are you resistant to change? Do you know how to change? What obstacles are preventing you from adapting to the changing conditions of the workplace? Are you up to date with current office technologies? Do you lead the charge to test a new idea or drag your feet in hopes it will go away?

6. When you visit a bookstore, which section are your naturally drawn to? Why is that? What sections do you never visit? Do you always visit the same section? Why?

7. If you could subscribe to only 5 magazines, which ones would they be? What about 3 magazines? What about just one? When you pick up a newspaper, what news stories do you read first? Politics, business, people, food, entertainment?

8. Do you receive any product or service catalogs in the mail? Which ones do you hang on to for years? Why? What is it in that catalog that you feel most drawn to?

9. What are your 3 favorite books? What is in them that put them at the top of your list?

10. What are your top 3 favorite movies? Why do you like them? Are you drawn to the actors, the plot, or a feeling you get when you watch those movies?

11. Who do you envy? Why? What is it about them that you envy? Do you envy their attitude, their personality, their situation, how they handle problems and challenges, their coolness under pressure, or some other trait?

12. If you could trade places with one person for a month, who would it be? Why?

13. If you could make just one very powerful, very positive change to your life, what would it be? What about that change would improve your life?

14. What interests, hobbies, or careers would you like kids to get involved in? What would you steer them away from? What would you intensely disagree with their involvement? Why? What would you want to make sure they understood if you were on your deathbed?

15. Can you remember one time in the last week that you felt strongly about something? What was it and why did it evoke those emotions?

16. If you were stranded on a deserted island (with plenty of food, water, and shelter), what would you miss the most? What non-survival items would you want with you. If a package washed up on shore, what would you hope would be in it?

17. If you could go back in time and whisper one thing in your past self’s ear, what would it be? How would knowing that one little thing change your future for the better? How could you incorporate this item into your life today? What’s the next step?

18. What one thing would you do for free? If no one paid you to do this, would you do it for free? Better yet, would you pay for the privilege to do it?

19. What barriers within yourself are keeping you from finding and pursuing your passion? I’ll bet the root of anything you answer is FEAR. Fear is False Evidence Appearing Real. Living a fearless life is the result of pursuing your passion.

20. What barriers are in your external environment that are standing in your way? What do you have to do to remove or overcome or go around them? What is the next step? Take it…take it……..take it.

Your thoughtful, personal answers to these questions are essential first steps in helping you refocus your dreams, identify your passion, and create your own path to a happier and more fulfilled life. Many of you can quickly and enthusiastically answer “Yes” or “No” to those questions. Those who say only “I don’t know” should take a day (or a week) to think about their answers.

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Are you in the process of making the decision to finish your degree? I used an online program, but they aren’t for everyone. Before you use my checklist, review these 10 reasons you might consider an online program.

1. An online degree program allows you can set your own schedule — within limits. Accredited online degrees usually don’t allow you to lazily finish a course, but you can determine the amount of courses you take at once.

2. Online courses are accessible almost anytime. Unless there is a server problem, you can usually access your online degree program anytime you have an Internet connection.

3. Online degrees don’t expose you to intimidating professors or students. When I attended The University of Alabama, I originally was considering going to medical school. Other students with similar ambitions were incredibly intimidating and competitive. It drove me crazy. Online degree programs free you from that interaction as well as the interactions of a potentially bullying professor. Additionally, there is the “safety” issue. When you’re using an online program, you don’t expose yourself to potentially unsafe situations by walking across a dark campus at night.

4. When you sign up for an online degree program, you’re able to chose your own learning style. Many courses have lectures via DVD. If you’re a visual learner, this is great news. Other people learn by reading and online degrees are wonderful avenues for that style.

5. There is something for everyone in the online degree world. The amount of course offerings and programs is staggering. Associates, bachelors, masters, and even both types of doctoral programs are available. The majors you can choose range from nursing to business, from web development to ancient history, from graphic design to interior design.

6. You can learn new skills. By taking an online degree program, you’re expanding your horizons by learning new technologies.

7. Online degree programs also offer you the chance to brush up on old skills. You just thought you had forgotten how to write an essay! Most everything is “like riding a bike.” You have so much knowledge already, it’s just a matter of dusting it off and putting it to use.

8. Online degrees are cost effective. Remember that you won’t need to drive to class. You won’t have dorm room fees, meal plans, or parties to attend. Many online degree programs are cheaper than their traditional grounded program counterparts. You’ll be able to save significant amounts of money by purchasing your books online through sites like Ebay, or Half.com.

9. You’ll be able to use current applied technologies. Online degrees insure that you’ll be up to speed with how the Internet works since most online colleges and universities use very late developing technology.

10. You know you want to finish something you started all those years ago. An online degree program is the answer to your need to work AND finish your degree.

Use only accredited online degree programs!

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College costs just keep escalating and gasoline appears to have a better chance of moderating than college tuition. With college costs expected to consistently rise ahead of the inflation rate, it’s becoming more and more difficult to comprehend that 18+ years of saving will not be sufficient to cover the costs of college. What’s a parent to do? More importantly, what’s an 18 year old student to do?

Options to reduce your college costs.

1. Think about what you really want to do with your life, but keep in mind that you may change that several times before you reach 25! Start investigating the college you are most interested in while carefully weighing your academic and career goals. Making the wrong choice at this stage in your life can be expensive if you transfer schools or drop out entirely. Remember that NOT going to college is an option if you have a real opportunity to pursue something you’re passionate about. Not going will significantly reduce your college costs!
2. Investigate going to a local community or junior college for your first year or two while you sort out what it is you realy want to do. Make sure the college’s courses are accepted at other four year schools FIRST. The costs of attending a community or junior college are considerably less than traditional schools
3. Go to a public college instead of a private one. If you’ve worked any at all, in theory, you’ve already paid toward your public college education through taxes. An in-state public university offers a great education at subsidized tuition prices. Might as well take advantage of it. Bear in mind, however, many private colleges will bring down their costs for the right applicants.
4. Enroll in advanced placement (AP) courses while you’re able. Many colleges accept AP for full college credit, which can reduce the time you spend in college. Since many colleges charge you by the hour, your costs for college could be reduced by those hours. In some cases, you can substitute a year at a local community college for your senior year in high school.
5. Research available scholarships. Visit your high school counseling office or your public library. Or, search free scholarship sites on the Internet. When the time comes to apply, you should have already developed a sound strategy for seeking out scholarship money. Reducing college costs through scholarships can be very competitive, so start your scholarship search early.
6. Get someone else to pay for it. Seriously. The Federal Government has many programs to help you pay your way through college if you’re willing to invest some time in the military.
7. Consider the online option. I finished my Bachelor’s degree and my Master’s degree in an online format. Many, many courses offered at traditional colleges offer the exact same courses online anyway. The cost of my online Bachelor’s was about $15,000 for the tuition, and the cost of my MBA was about $11,000. The cost of a traditional four year degree in a public university can run $50,000 or more while Master’s degrees can easily cost that much or more.

If you’re seriously interested in attending college for the purpose of getting a degree, the costs can be greatly reduced by being flexible, asking lots of questions (and follow up questions), performing research well in advance of needing the assistance, and knowing what you want to do with your life.

As always, though, don’t think that ANYTHING can prevent you from getting your degree if you’re determined enough to do it. Listen to your heart and make your own decisions.

[tags]college costs, scholarships, college, costs, year, colleges, degree, public, cost, courses, online, reduce, scholarship, schools, tuition[/tags]

Links to products or services may be affiliate links. See my disclosure policy in the footer of the site or on my About page.