9-year-old Belgian prodigy set for university degree

AMSTERDAM, Netherlands—Like many other 9-year-olds, Laurent Simons likes TV and his pet dog. But he also wants to make artificial organs, and is about to get the qualifications to set him on his way.

The Belgian boy will in December receive a degree in electrical engineering from Eindhoven University of Technology in the Netherlands, which will make him one of the world's youngest graduates.

Far from being fazed by his achievements, which also saw him complete the course in just 9 months instead of the usual 3 years, Laurent says it's "normal"—although he adds too that it's "cool."

"I'm currently studying electrical engineering. It's about designing circuits and things like that. So chips, actually," the mop-haired youngster told AFP in the Dutch capital Amsterdam.

He adds that "I really like karting. And I like playing with my dog and watching Netflix."

His teachers run out of superlatives to describe him.

"Laurent's qualities are all simply extraordinary," says Sjoerd Hulshof, program director for electrical engineering at the university, a course that itself is considered particularly difficult.

The boy is "the quickest student we've ever seen. And he's not just hyper-intelligent, but very nice," Hulshof told AFP.

'BEING A CHILD'

While Laurent is studying in the labs of the university, his best friends are playing tag in the playground of his old school in the Belgian coastal resort of Ostend.

Laurent, wearing a rollneck jumper, jeans and trainers, himself says that "I don't really miss primary school, but I still have friends there."

He was raised in Ostend by his grandparents until the start of this year, as his parents Alexander and Lydia were "busy with work" in the Netherlands.

Starting school at 4, he completed primary in a year and a half. It has taken him just 5 years to go through primary and secondary school and university.

"In the end, it's about finding a balance for the child so that he enjoys life, being a child and being mischievous," says Alexander, 37, a Belgian dentist who has a practice in the Dutch port city of Rotterdam.

"His grandfather and his grandmother, who raised him, told us already: he is very intelligent, more than the others... Then, when he was old enough to go to school, they kept doing tests on him from higher levels," adds Lydia, 29, who is Dutch and works as a dental assistant for her husband.

'I'VE ONLY JUST STARTED'

They are now selling the Rotterdam surgery so they can "completely dedicate" themselves to Laurent, who must be taken to university every day because he is too young to go by himself.

"He can't take the train himself," says Alexander, whose Amsterdam home features a huge black and white artwork of the faces of himself and his son.

His parents admit they "don't understand at all" the subjects that come so easily to Laurent, whose closest companions apart from his dog are his laptop and a book on integrated circuits.

Laurent says his goal now after receiving his degree in December is to "make artificial organs to prolong life."

The reason? He wants to help heart patients—like his grand-parents.

"I still have to see how I'll do it. I've only just started."

His parents are now already in contact with universities in the United States as they eye another degree for their son.

Aware of the media attention that has recently surrounded his son, Alexander says his son is growing up in a healthy environment unlike "singers and pop stars."

"If, one day, we realize he's becoming big-headed, that he's becoming pretentious or arrogant, we'll put his feet back on the ground."

source: news.abs-cbn.com

Biggest US college fraud bust nets actors Felicity Huffman, Lori Loughlin

BOSTON - Federal authorities arrested dozens on Tuesday for a $25 million scheme to help wealthy Americans, including actresses Felicity Huffman and Lori Loughlin and some CEOs, cheat their children's way into elite universities, such as Yale and Stanford.

The largest college admissions fraud scam unearthed in US history was run out of a small college preparation company in Newport Beach, California that relied on bribes to sports coaches, phony test takers, and even doctored photos depicting non-athletic applicants as elite competitors to land college slots for the offspring of rich parents, prosecutors said.

"These parents are a catalog of wealth and privilege," Andrew Lelling, the US attorney in Boston, said at a news conference. "For every student admitted through fraud, an honest, genuinely talented student was rejected."

William "Rick" Singer, 58, pleaded guilty on Tuesday to charges related to running the scheme through his Edge College & Career Network, which charged from $100,000 to as much as $2.5 million per child for the services, which were masked as contributions to a scam charity Singer runs.

"I was essentially buying or bribing the coaches for a spot," Singer said as he pleaded guilty to charges including racketeering, money laundering, and obstruction of justice. "And that occurred very frequently."

John Vandemoor, a former Stanford University sailing coach who worked with Singer, also pleaded guilty to racketeering conspiracy.

It was the latest in a series of scandals that have rocked the high-stakes, high-stress world of admissions to top colleges. Prosecutors in Boston in recent years have also charged Chinese nationals with cheating on entrance exams, while the College Board, which administers the SAT tests, was rocked in 2016 by a security breach that exposed hundreds of questions planned for tests.

Some 300 law enforcement agents swept across the country to make arrests in what agents code-named "Operation Varsity Blues." Huffman and Loughlin were due to appear in federal court in Los Angeles later on Tuesday, prosecutors said.

Prosecutors have so far named 33 parents, 13 coaches, and associates of Singer's business.

Other parents charged include Manuel Henriquez, the chief executive of specialty finance lender Hercules Capital; Gordon Caplan, the co-chairman of international law firm Willkie Farr & Gallagher; Bill McGlashan Jr., who heads a buyout investment arm of private equity firm TPG Capital; and Douglas Hodge, the former CEO of the investment management firm Pimco.

Representatives for the companies and for Huffman and Loughlin either declined to comment or did not respond to requests for comment.

The alleged masterminds of scam and parents who paid into it could all face up to 20 years in prison if convicted.

Huffman, a former best actress Oscar nominee who is married to actor William H. Macy, starred in ABC's "Desperate Housewives."

Loughlin, best known for her role in the ABC sitcom "Full House" and the recent Netflix sequel "Fuller House," is married to clothing company founder Mossimo Giannulli, who was also charged in the scheme.

'HELP THE WEALTHIEST'

On a call with a wealthy parent, prosecutors said, Singer summed up his business: "What we do is help the wealthiest families in the US get their kids into school ... my families want a guarantee."

Prosecutors said it was up to the universities what to do with students admitted through cheating.

Yale University and the University of Southern California (USC) said in separate statements that they were cooperating with investigators.

"The Department of Justice believes that Yale has been the victim of a crime perpetrated by its former women's soccer coach," Yale said in a statement.

The coach, Rudolph Meredith, resigned in November after 24 years running the women's soccer team. Meredith, who accepted a $400,000 bribe from Singer, is due to plead guilty, prosecutors said. His lawyer declined to comment.

Prosecutors said the scheme began in 2011 and also helped children get into the University of Texas, Georgetown University, Wake Forest University, and the University of California, Los Angeles (UCLA).

Part of the scheme involved advising parents to lie to test administrators that their child had learning disabilities that allowed them extra exam time.

The parents were then advised to choose one of 2 test centers that Singer's company said it had control over: one in Houston, Texas, and the other in West Hollywood, California.

Test administrators in those centers took bribes of tens of thousands of dollars to allow Singer's clients to cheat, often by arranging to have wrong answers corrected or having another person take the exam. Singer would agree with parents beforehand roughly what score they wanted the child to get.

In many cases, the students were not aware that their parents had arranged for the cheating, prosecutors said, although in other cases they knowingly took part. None of the children were charged on Tuesday.

Singer also helped parents stage photographs of their children playing sports or even Photoshopped children's faces onto images of athletes downloaded from the internet to exaggerate their athletic credentials.

Wake Forest said it had placed head volleyball coach Bill Ferguson on administrative leave after he was among the coaches accused of accepting bribes.

According to the criminal complaint, investigators heard McGlashan of TPG Capital listening to Singer tell him to send along pictures of his son playing sports that he could digitally manipulate to make a fake athletic profile.

"The way the world works these days is unbelievable," McGlashan said to Singer, according to court papers.

source: news.abs-cbn.com

Hollywood stars among dozens charged over college entrance scam

NEW YORK -- "Desperate Housewives" star Felicity Huffman and fellow Hollywood actress Lori Loughlin were among dozens indicted Tuesday in a multi-million dollar scam to help children of the American elite cheat their way into top universities.

The accused, who also include chief executives, financiers, the chairman of a prominent law firm, a winemaker and fashion designer, allegedly cheated on admissions tests and arranged for bribes to get their children into prestigious schools including Yale, Stanford, Georgetown and the University of Southern California, federal prosecutors said.

They paid a bogus charity run by Californian William Singer more than $25 million over seven years both to arrange for people to fix SAT and ACT entrance exams for their children, and also to bribe university sports coaches to recruit their children, even when the children were not qualified to play at that level.

The case sparked outrage across the country, especially among parents who stress about the intense competition for places in universities and, more broadly, about privileged behavior among the richest Americans.

In all, 50 people were charged: 33 parents who paid to give their kids undeserved entry into high-end college life; 13 university sports coaches and test organization operators; and Singer and three others who operated the fraudulent scheme.

Thirteen of those accused, including Huffman, were arrested and slated for arraignment late Tuesday in Los Angeles. Others appeared in courts in Boston, New York, Connecticut and elsewhere. Loughlin was not arrested because she was in Canada.

None of the universities or the companies who run the tests were implicated, and none of the students involved were charged.

"These parents are a catalog of wealth and privilege," said Andrew Lelling, the US attorney in Boston, Massachusetts where the case was announced.

"Every year hundreds of thousands of hard-working, talented students strive for admission to elite schools," he said.

"There can be no separate college admission system for the wealthy, and, I'll add, there will not be a separate criminal justice system, either."

PREYING ON PARENTAL ANXIETY 

The scheme aimed to take advantage of the two years of the anxiety s parents across the United States often endure as they put high school-age children through the standardized tests needed to gain entry into heavily competitive colleges and universities.

Even legally, wealth plays a role. Parents who can afford to pay heavily for test preparation and have their children take the tests two or three times to better their scores.

In this case, however, Singer arranged for someone to take the test for the students, or paid insiders to fix their scores.

And, in a second part of the scheme, the "side door" operation, Singer would create bogus athletic profiles for the students and manage payoffs to university coaches in minor sports like soccer, crew, water polo and sailing so that the student could be accepted on that basis.

The payments were made to Singer's fake Newport Beach, California charity, Key Worldwide Foundation, and to non-profits managed by the coaches, which allowed the parents to deduct the payoffs and bribes from their taxes.

Singer agreed to plead guilty to fraud charges and assisted investigators in obtaining evidence against his customers and co-conspirators.

NOT 'SHAMELESS' 

Parents paid as little as $15,000 and as much as $6 million to benefit from Singer's operation.

Huffman, 56, and her husband William Macy, the star of Showtime's hit series "Shameless," paid $15,000 for their first daughter to perform well on the test, but decided not to do the same with their second daughter. Macy was mentioned in the case but not charged.

Loughlin, the 54-year-old star of "Full House," and her fashion designer husband Mossimo Giannulli allegedly paid $500,000 to gain their two daughters entry into University of Southern California as coxswains for crew teams -- a sport they hadn't participated in before.

Gordon Caplan, co-chairman of New York law firm Willkie Farr & Gallagher, allegedly paid $75,000 to have his daughter's test grades fixed.

And William McGlashan, an executive at the huge investment group TPG Capital who specialized in technology investments, allegedly paid hundreds of thousands of dollars for both testing and being placed in University of Southern California as a student athlete.

"What is going to happen when they see his application, he'll be flagged as an athlete," Singer told him in a phone conversation recorded by investigators.

"But once he gets here, he just goes, he doesn't go to athletic orientation, He goes to the regular orientation like all my other kids just did... and everything's fine."

Coaches, including the women's soccer coach at Yale University and the sailing coach at Stanford University, took between $200,000 and $400,000 to accept the students onto their teams.

Some attempted to ply the sport and then quit; some claimed injuries and never joined the teams, others, Lelling said, "simply never showed up" to play.

source: news.abs-cbn.com

Harvard on trial over alleged discrimination against Asians

Harvard University went on trial Monday over an opaque admissions selection process that critics say discriminates against students of Asian origin.

A lawsuit has challenged the use of race as a factor in Harvard admissions -- a decades-old push to boost minority enrollments at America's oldest and perhaps most prestigious university.

Federal Judge Allison Dale Burroughs heard opening arguments Monday in the non-jury civil trial in Boston, which is expected to last three weeks.

Harvard denies discriminating against Asians but defends its use of broader selection criteria than academic excellence, such as personality, to form a diverse student body.

The university also notes that the proportion of students of Asian origin has increased substantially since 2010, and today account for 23 percent of the 2,000 students admitted to the freshman class, compared to 15 percent blacks and 12 percent Hispanics, out of 40,000 applicants.

Pitted against it is an organization called "Students for Fair Admissions," led by a conservative white activist, Edward Blum, who previously attacked the "affirmative action" policies at the University of Texas.

The US Supreme Court decided against him in 2016, upholding the university's admissions policy.

In Monday's opening arguments, the group's lawyer Adam Mortara claimed that Harvard had used personality criteria to suppress Asian admissions in favor of black, Hispanic and white applicants.

Harvard "let the wolf of racial bias in through the front door," the Boston Globe quoted him as saying.

Bill Lee, the university's lawyer, argued however that "Harvard cannot achieve its educational goals without considering race."

Race is never a negative in admissions, he said.

The Trump administration has weighed in in favor of Blum's suit, asserting that Harvard engages in "racial balancing" in its admissions process at the expense of students of Asian origin.

Whatever the outcome, analysts expect this ultra-sensitive case to wind up before the Supreme Court, where a conservative majority has been solidified with the addition of Trump nominee Brett Kavanaugh.

source: news.abs-cbn.com

Harvard admissions bias case can proceed to trial: U.S. judge

BOSTON - A federal judge on Friday cleared the way for a lawsuit accusing Harvard University of discriminating against Asian-American applicants to go to trial, a closely watched case that could influence the use of race in college admissions decisions.

U.S. District Judge Allison Burroughs in Boston rejected dueling motions by Harvard and a nonprofit group suing the Ivy League university to rule in their favor ahead of a non-jury trial set to begin on Oct. 15.

The ruling came after the U.S. Justice Department, which has been investigating Harvard for potential civil rights violations over its affirmative action policy, in August threw its support behind the 2014 lawsuit by Students for Fair Admissions Inc (SFFA).

The group, headed by prominent anti-affirmative action activist Edward Blum, has alleged that Harvard's admissions process, which factors in race, significantly disadvantages Asian-Americans compared with other groups.

Burroughs wrote that rather than presenting her with undisputed facts and evidence that would allow her to rule without overseeing a trial, Harvard and SFFA had filed motions that were "essentially mirror images of one another."

"Whether SFFA may prove its intentional discrimination claim requires a close review of the conflicting expert testimony, the available documents, and the testimony of the admissions office employees in the context of a trial," Burroughs wrote.

Harvard in a statement said it does not discriminate against Asian-Americans and looked forward to defending itself at trial.

Blum declined to comment.

The U.S. Supreme Court has ruled that universities may use affirmative action to help minority applicants get into college. Conservatives have said such programs can hurt whites as well as Asian-Americans.

In court papers, SFFA claimed an Asian-American male applicant with a 25 percent chance of admission would have a 35 percent chance if he were white, 75 percent chance if he were Hispanic and 95 percent chance if he were black.

Cambridge, Massachusetts-based Harvard has denied that it uses a quota system or has engaged in "racial balancing." It has criticized the lawsuit as an effort to attack the right of colleges to consider race as an admissions factor.

After President Donald Trump, a Republican, took office last year, the Justice Department began investigating whether Harvard's policies are discriminatory because they limit Asian-Americans' acceptance.

Yale University on Wednesday announced that the Justice Department was also investigating it over similar claims. The university denied discriminating against Asian-Americans.

source: news.abs-cbn.com

8 West Visayas State U grads top nurse licensure exam

ILOILO CITY - Cheers, applause, and laughter were heard at the lobby of the College of Nursing at West Visayas State University Monday morning after eight of its graduates were included in the top 10 of the June 2017 Nursing Licensure Exam.

One hundred and twenty-five of the 126 examinees from the university also passed.

The university had the second highest passing percentage with 99.21 passing rate.

Mary Angelie Cabañez, 21 years old, topped the board exam with a rating of 86.2%.

She considered this achievement as a gift because since she almost missed the exam due to thyroidectomy.

The operation turned out to a blessing in disguise as three sets of the exam were focused on thyroids.

Cabañez wants to work in the Philippines. However, she will not think twice if there is an opportunity for her to pursue her career abroad.

Unlike Cabañez, 7th placer Julie May Suganob did not expect she would be among those who will top the exam.

She said her patients inspired her to pass the examination.

It was in 1993 when a WVSU graduate last topped the nursing board exam.

source: news.abs-cbn.com

How Much Does a Masters Degree Really Cost?

A master’s degree is a higher form of education that will distinguish you from other job candidates who are looking for the best paying jobs. Investing in this education will give you more specialized skills and allow you to enter more exciting careers. For example, you can enroll in RN to MSN programs, or you can even go the more flexible route and get your masters of science in nursing online from the University of Arizona if you want to enter the medical field. Or you can instead invest in an MBA if you wish to run your own business or become qualified to manage someone else’s company. But a master’s degree isn’t cheap, so keep reading to learn about how much it will really cost.

The Factors That Determine Cost

How much you will need to spend on your master’s degree will ultimately depend upon a few different factors. For example, some master’s degree programs are longer than others and require more credits than others, so they will be more expensive. Also, some employers are willing to provide you with tuition assistance, so that can help you lower your out-of-pocket costs for your degree. And whether you go to a school as an in-state or out-of-state student will also determine the cost of your tuition for your master’s degree.

Average Tuition Costs for Master’s Degrees

The tuition cost for a master’s degree will vary. Typical costs range from $30,000-$120,000. Different schools charge different rates, and different master’s programs cost different amounts. Plus, there are other costs involved with going to school for a master’s, such as investments into books and software, that also need to be factored into what you will end up spending in the long run by the time you complete the program. For example, an MBA at a public college might cost around $40,000, but the same graduate degree at a school like Stanford University or Harvard University would be around $120,000 or more. In other words, the cost of your master’s degree is not only dependent upon the type of degree that you are after, but also what school you plan on attending.

Out-of-State Students Pay More

Going to a college or university that is located within your state will help you save money, especially if you are going to be attending a public university. For example, an in-state student might end up paying $11,000 for about nine credits each year, while an out-of-state student in the same program might pay around $20,000 each year.

When it comes to getting a master’s degree, costs can vary considerably based upon the type of degree that you want and the school that you hope to attend, as well as whether you will be completing the coursework in person or online. The best way to know what a master’s degree will ultimately cost you, therefore, is to actually do your research into the schools and programs that interest you, and contact the schools’ administrators for a breakdown of the tuition and fees.

source: 20smoney.com

How much does a dental assistant school cost?

The cost of dental assistant schools vary by state. Let’s say you were to complete either an 11 month, full-time, or 22 month, part-time curriculum that consisted of 42 units. You’re looking at a tuition that can be anywhere between $850 dollars to $7,560. This all depends on the average unit cost.

For example, one school could charge about $20 per unit for a certificate course which will allow you to become a dental assistant. This makes the cost of the program about $850. Keep in mind that some dental assistant colleges may cost more, and this does not include any additional costs.

Registration fees can cost up to $60, lab fees can cost up to $500, and books and supplies can cost up to $1,600. After your training is complete you will also have to take the certification exam, which costs $125. These additional fees should be taken into consideration when selecting a dental assistant school. Prices and expenses vary by state. Another option may be to look into online colleges. With additional costs included, you’re looking at a total cost between $3,000 and $9,000.


Many dental assistant schools will allow you to pay for tuition through payment plans and loans. The American Dental Assistants Association also offers an annual scholarship to qualified candidates.

Doing a college search for dental assistant schools or dental assistant colleges? Check out popular Texas healthcare colleges or a college in any other state of your choosing. Looking for online colleges? You can search for online degrees too. For additional information, use US College Search or find us on Facebook and Twitter as well as searching by zip code.

source: uscollegesearch.org

How do I choose which online college to attend?

If you are confused about where to start, keep these things in mind during your selection process.

Word of Mouth – Ask around for suggestions. You probably know someone already attending that will recommend his or her online college. If not, check resources such as the public library, college search websites, and search engines.

Programs Offered – Check to see if they have the program you need for graduation. If you need a Master’s in Women’s Studies, then you need to eliminate the colleges that do not offer it.

Accreditation – This is a voluntary process that shows the institution has met certain academic standards. It also affects the school’s ability to offer federal financial aid. If you anticipate needing a federal loan, accreditation is probably necessary.

Time to Complete Certification – Generally, if a graphics design program takes 18 months to complete at one school, it will take 18 months at the next. However, classes at one school may be offered more than once a year making it easier to schedule classes around your workload. Ask advisors at the schools to explain your options.

Tuition – Your amount owed will be based on the number of credits you request. Before applying for a loan, check if your employer offers tuition reimbursement for certain classes or to a particular college.

Once you have your answers in front of you, you will be able to make an informed decision.

Doing a search for online colleges? Our US college search groups together quality schools in your area to help jumpstart your career. While you’re looking for online colleges, you can also search for online degrees as well. For additional information, use US College Search or find us on Facebook and Twitter as well as searching by zip code.

source: uscollegesearch.org

5 ways to make money in college

(Editor's note: This article was exclusively written by MoneyMax.ph, the Philippines' leading website for comparing financial products and services, for ABS-CBNnews.com. Find out more at MoneyMax.ph.)

Many consider college as the best four (or more) years of their lives. Wouldn’t you? You're meeting different kinds of people; you’re learning many new things inside and outside the classroom; and you’re world has grown much larger than before you entered.

However, your expenses have also gone up. From photocopying multiple readings to joining school organizations and attending events, you find yourself spending more, and by the end of week, you’re eating pancit canton with a side of siomai or fishballs for lunch. So why not earn while you’re in school?

College is definitely the best time to explore and experience what the world has to offer, and this includes earning opportunities. If you’re a college student, look for ways to earn on the side instead of depending wholly on your allowance, and you may even be able to get a head start on the financial milestones you should aim for in your 20s.

Mobile users can view the desktop version of the slideshow here.

source: www.abs-cbnnews.com

Why some Korean students don't want to leave school

SEOUL - It's been a year since Seoul media and communications student Lee Woong-hee finished his studies, but the 26-year-old plans to skip his class graduation ceremony in February because he thinks retaining his student status will help him finally land a job.

He's not alone. Youth unemployment hit a 14-year high in South Korea in 2014, and with hiring sluggish amid a weak economy, especially for "good" jobs with permanent status, thousands of students due to graduate in early 2015 are expected to instead remain on campus.

"Job hunting gets harder every year. It was difficult this year and I fear it will get worse next year," said Lee, who should have graduated last February.

In South Korea, many universities allow students to remain enrolled and use college facilities, even if they aren't taking any classes. At others, students deliberately remain one or two credits short of a degree until they find a job.

"I heard from others that employers do not like graduates. They ask at interviews what you did after graduation," Lee said.

Two-thirds of South Koreans aged 25-34 have a college degree, the highest proportion in the Organization for Economic Cooperation and Development (OECD), a developed nations' club among whom the average is just below 40 percent.

Government efforts in recent years to encourage young people to pursue careers that don't necessarily require a university degree have had limited success in a country obsessed with education. The high rate of graduates means many ambitious young people feel overqualified for the jobs that are available to them, and figure it's better to have no job than one below their expectations.

LABOR MARKET DIVIDE

South Korea's labor market is divided between permanent jobs with a high degree of security and temporary positions that end after two years, a split that makes it harder for young people to get on a career track.

In 2012, 24 percent of workers in South Korea were temporary, double the OECD average.

In November, Finance Minister Choi Kyung-hwan suggested measures to make the labor market more flexible by easing rules on lay-offs and pay. While employers supported the proposals, labor groups and many students did not.

A hand-written letter to Choi by a group calling itself "the Misfits" took issue with his ideas and went viral on social networks after it was posted on walls at Korea University and Yonsei University, two of the country's top colleges.

"We are not angry because the regular workers are overly protected. We are angry because temporary workers are not ensured the benefits regular workers receive," it said.

Kim Jong-jin, a research fellow at the Korea Labor and Society Institute, said many young people in highly educated South Korea were unwilling to take temporary jobs.

"People in their mid-20s are supposed to be active in the labour market, but the market cannot exploit them as they keep on studying and preparing themselves for more stable jobs."

A government survey of 33 universities last year found the number of students delaying graduation more than doubled in three years, to more than 15,000.

SHORTER CAREERS

Corporate Korea, which makes two big rounds of hiring each year - the next is in March - has just endured its toughest year since the global financial crisis.

"As conditions are difficult for expanding investment, it won't be easy for firms to hire new people," said Lee Cheol-heng, head of the employment and labour policy team at the Federation of Korean Industries.

The unemployment rate for people aged 15-29 hit 10.9 percent in February 2014, just short of the all-time high of 11 percent recorded in January 2000, before easing to 8.0 percent in October. The figure excludes students. The unemployment rate for new graduates in March last year tied 2013's record of 32.2 percent, according to Korea Labor Institute data.

Later entry into the job market accelerates the greying of the workforce in the world's fastest-ageing country.

Last year, the number of South Korean workers in their 50s outnumbered those in their 20s for the first time, which will add pressure to the country's underfunded pension system when those older workers retire.

With young South Korean men required to serve two years in the military, more time on campus means even fewer working years in a country where the retirement age is 60. A later career start often means starting families later, exacerbating a low birth rate.

"With a retirement age, if the youth enter the labour market later, it decreases their entire economic output whereas the education investment increases," said Kim Gwang-suk of the Hyundai Research Center. "It is a serious problem."

source: www.abs-cbnnews.com

Why College Dropouts Make Great Forex Traders

You have to have a college degree to make it in the rocket-fueled, action-oriented worlds of forex, business and finance, right? Well, to answer that question let’s first take a look at some of the most financially successful people in the world who dropped out of, or never attended, college:

Paul Allen. Co-founder of Microsoft, he is currently worth $15.7 billion.

Michael Dell. Founder and Chief Executive Officer of Dell Computer. He dropped out of higher education at 19-years-old and is now worth more than $12 billion.

Bill Gates. Took leave of absence from Harvard to start Microsoft. His estimated net worth is more than $40 billion.

Rachel Ray. No college or culinary training. Has a successful TV show, cookbook series and magazine. Her estimated earnings per year is approximately $18 million.

Steven Spielberg. Dropped out of college at CSU, Long Beach. Founded Dreamworks. His net worth is around $3 billion.

Skills and Character Traits

These are just a few of the people who became wildly successful without getting a college degree. Now, what about forex and Primetrade? Can you succeed in forex trading without higher education.
The overwhelming answer is yes. Why? Because the same skills and character traits that make the above celebrities successful are the same qualities you need to be a successful trader. These traits include:
Self-directed. Self-directed people don’t follow the crowd like blind sheep. This is not easy to do because we are taught from a young age to go along to get along, to not make waves, to “be nice” and “be a good girl.” Our system rewards conformity.

Self-directed people are driven by their own motivations. If you study Bill Gates, for example, he is as motivated by learning and growing as much as making money and eliminating diseases. He has a structured, goal-oriented system to reading, studying and learning new things.

Massively-motivated. Again, our system rewards just doing enough to get by. Massively-motivated people want to do much more than survive — they want to thrive on a big scale. They are not afraid to put in hard work in order to experience big leaps in activity, production, profit and accomplishment.

Passionate. Have you ever seen Quentin Tarantino talk about his movies. Or listened to a kid talk about his favorite sport or team. They can barely sit still. They are so excited and enthusiastic, their words come out in a torrent.

Passionate people don’t all have this breathless quality, but they share the same energy. Have you ever worked on a project or goal for a long time, but it didn’t seem like work? You were so focused on the goal, so “wrapped up” in the process, time flew by. That’s a good sign you are in the sweet-spot of a personal interest and passion.

The Cost of College

The cost of college is skyrocketing, and many graduates are still unable to find jobs. People are questioning the value of spending tens of thousands of dollars with debatable results.
Still, college is a the right pursuit for many people. It fits their goals and temperament.
But there are many paths to success. For many self-directed, massively-motivated and passionate people, dropping out or skipping college altogether is a choice that has led to towering success and monster accomplishment. Perhaps more important, they achieved self-satisfaction by finding their passion.

source: 20smoney.com

3 Unconventional Ways to Graduate College with Less Debt

The cost of college tuition has increased so much in recent years that the value of a college diploma is now in question. However, despite the cost, a college degree is still a prerequisite to getting hired in many fields. To companies, college is more than just the diploma; it is a valuable life experience. By graduating, you are demonstrating that you are self-motivated, can manage your time effectively, work well with others, speak and write clearly and possess many other fundamental skills that employers seek when filling open positions.

 In addition, college is not just about figuring out what you want to do, but who you want to be and how to get there. So, before deciding that the cost of tuition puts college out of your reach, read on for some unconventional ways to get a degree without incurring an unmanageable price tag.

Do your homework and get hired FIRST

Recent high school graduates oftentimes don’t realize that many large employers will finance all or part of your education as part of your benefits package. That’s right; a college education courtesy of your employer. This option means you will be busy, working and taking classes in your spare time. However, chances are if you are reading this article you were planning on working while attending school anyway. Rather than take the first restaurant server job you're offered, do your homework and find a job in a company that values educated employees. An added bonus is that by the time you graduate, you'll have years worth of solid work experience - a quality that many recent college graduates lack and could put you ahead of the competition for your dream job.

Taking this idea one step further, if you can find a staff job at a college that allows employees to attend classes, working on campus will make this process very convenient and you'll be able to get more involved in the typical college experience. 

Start smaller

Start your college career at a community college. More and more community colleges and universities are teaming up to make transitions from one to the other natural and seamless.  The classes will be small, the experience less overwhelming and the tuition rates are often half the cost of a university. When you finish your two year degree, transfer to the university for another two years and by the time you are finished, you’ll have a bachelor’s degree for a fraction of the cost your fellow graduates paid (or will pay depending on their loan situation).

Start earlier

If you are still in high school, check to see if your school has reciprocal agreements with colleges that allow you to take college courses while in high school for little or no cost. You could graduate high school with college credits without shelling out a dime.

A college education is an investment that doesn't have to be a burden. Don’t let short term financial realities affect your long term goals.

source: infobarrel.com

California's biggest college fights to stay open

Main campus has 4,000 Pinoy students

SAN FRANCISCO – San Francisco City College’s fight to keep its accreditation got much-needed support from San Francisco Attorney Dennis Herrera.

Last week, Herrera filed a suit in Superior Court against the Accrediting Commission for Community and Junior Colleges, to stop the agency from revoking the accreditation of the city’s community college on July 31, 2014.

The commission has cited problems with the City College’s governance and fiscal planning. The sanction could shut down California’s largest school, because it would lose access to local, state and federal funding.

The City College of San Francisco has about 85,000 students. In its main campus alone, 4,000 of the 35,000 students are Filipino, the largest population of Filipino students in any school outside the Philippines.

"There’s no question in anyone’s mind that City College is really a piece of the fabric of the City and County of San Francisco. Everywhere I go, everyone I’ve spoken to, have either taken a class, or have a relative taking a class here," said Dr. Robert Agrella, Special Trustee of the school.

In a recent press conference at the New America media, Agrella assured people that the City College of San Francisco continues to operate as it tries to meet the requirements for accreditation.

“We are alive. We are well. We are fully functioning. We are fully accredited, as we go through all these processes leading to the maintenance of our accreditation. We remain an accredited institution,” Agrella stressed.

In fact, City College officials said that the quality of education there has not been sacrificed, despite the crisis it’s going through.

“Our number of sections for the classes that we are offering this year, is actually up, in our credit area in particular. We have not made a big reduction. We are looking to see that the classes meet the demands of our students,” said Joanne Low, Vice-Chancellor of Academic Affairs.

Low added that the school is even hiring more instructors to accommodate more classes.

City College officials hope that the school will show enough progress that the commission could extend its accreditation deadline. But while it’s still open and trying to recover, students are worried about its future. The community college has so far suffered a 10 percent decline in its enrollment for the new semester.

source: www.abs-cbnnews.com

U.S. Congress Finally Votes to Cut Student Loan Interest Rates

WASHINGTON - U.S. college students will likely pay a reduced interest rate of 3.86 percent on their student loans for the new school year, after lawmakers on Wednesday finally passed a compromise bill that would reverse a recent rate hike.

The House of Representatives voted 392-31 in support of a bipartisan deal to lower interest rates on millions of new federal student loans. The Senate passed the bill on July 24 and President Barack Obama is expected to sign it into law.

The action followed months of partisan bickering, with Democrats and Republicans blaming each other for a politically embarrassing delay that had the potential to cost students and their parents thousands of dollars.

The legislation replaces a system in which Congress fixed interest rates every year and substitutes it with a market-based mechanism tied to the government's cost of borrowing and capped to protect borrowers in the event of a severe spike in rates.

The legislation passed just two days before Congress recesses for five weeks, after several failed efforts in the House and Senate.


Interest rates on student loans automatically doubled on July 1 to 6.8 percent after Congressfailed to meet the deadline to prevent the rate increase. Congress has since incorporated a retroactive fix that would keep borrowers of loans originated since July 1 when rates had doubled from paying the higher rate.

The measure passed Wednesday pegs interest rates on student loans to the 10-year Treasury note plus 2.05 percentage points for undergraduates, and plus 3.6 percentage points for graduate student loans.

The interest rate would roughly work out to 3.86 percent this year for undergraduates and 5.42 percent for graduates.

Supporters of the bill say it gets politicians out of the business of setting student loan rates and provides certainty for students and their families.

'Long-Term Fix'
Critics of a market-based system say it fails to offer enough protection against increasing rates as the economy improves.

"This bill provides American college students immediate debt relief on upcoming studentloans," said California Representative George Miller, the senior Democrat at the House Committee on Education and the Workforce. "Families battered by the recent recession should have received this relief over a month ago."




In 2007, Congress lowered the interest rates on federal subsidized Stafford loans to 3.4 percent. That lower rate was due to expire last year, but Congress extended it for another year rather than argue about a replacement for it during an election year.

Under the caps in the new plan, if market rates rise, undergraduates could pay as high as 8.25 percent and graduates as much as 9.5 percent. The rate could go to 10.5 percent for PLUS loans for parents who borrow to pay for their children's college.

"We wanted to get out of the partisan squabbling that has been happening in this city every year - let the market do it in a way that is fair to students and the taxpayer," said Education Committee Chairman Representative John Kline, a Minnesota Republican.

"After months of great uncertainty, students can finally breathe a sigh of relief knowing that interest rates on subsidized federal loans for college won't double from last year and a long-term fix will be in place to avoid these annual political chess matches over the loan program," said Peter McPherson, president of the Association of Public and Land-grant Universities.

source: dailyfinance.com

Senate Passes Student Loan Deal

The Senate passed legislation Wednesday that would make it less expensive for college students to borrow money to pay for classes, housing and books. But interest rates could soon start climbing.

The proposal, that passed by 81 votes to 18, would link interest rates on federal student loans to the financial markets. That means student loans for the next few years would have lower interest rates. Higher rates would come in later years if the economy improves as expected.

Liberal Democrats opposed the White House-backed proposal as a bait-and-switch measure that would lure in new borrowers. Republicans supported the measure and helped the bill win passage. The bill is similar to one the House has already passed.

The White House and its allies said the new loan structure would offer lower rates to 11 million borrowers right away and save the average undergraduate $1,500 in interest But there was no denying the new structure could cost future students if the economy improves as expected and interest rates climb. The White House's allies instead suggested the new formula is better than the status quo.

After the bill's passage the White House released a statement from President Obama applauding the vote.

"This compromise is a major victory for our nation's students," the statement read. "It meets the key principles I laid out from the start: it locks in low rates next year, and it doesn't overcharge students to pay down the deficit. I urge the House to pass this bill so that I can sign it into law right away, and I hope both parties build on this progress by taking even more steps to bring down soaring costs and keep a good education - a cornerstone of what it means to be middle class - within reach for working families."

Rates on subsidized Stafford loans doubled to 6.8 percent July 1 because Congress could not agree on a way to keep them at 3.4 percent.

Liberal members of the Democratic caucus were vocal in their opposition over the potentially shifting rates included in the Senate measure, which passed with support from both parties. The bill passed with support from 45 Republicans, 35 Democrats and Sen. Angus King, the independent from Maine who helped negotiate the deal.

Sen. Mike Lee, R-Utah, joined 16 Democrats and Sen. Bernie Sanders, the Vermont independent who caucuses with Democrats, to oppose the legislation.

Sen. Claire McCaskill, D-Mo., did not cast a recorded vote.

"This permanent, market-based plan makes students' loans cheaper, simpler and more certain," said Sen. Lamar Alexander, the top Republican on the Senate education panel. "It ends the annual game of Congress playing politics with student loan interest rates at the expense of students planning their futures."

Under the bipartisan deal, undergraduates this fall could borrow at a 3.9 percent interest rate. Graduate students would have access to loans at 5.4 percent, and parents could borrow at 6.4 percent. Those rates would rise as the economy picks up and it becomes more expensive for the government to borrow money.

The compromise could be a good deal for students through the 2015 academic year. After that, interest rates are expected to climb above where they were when students left campus in the spring, if congressional estimates prove correct.

As part of the compromise, Democrats won a protection for students by capping rates at a maximum 8.25 percent for undergraduates. Graduate students would not pay rates higher than 9.5 percent, and parents' rates would top out at 10.5 percent.

Using Congressional Budget Office estimates, rates would not reach those limits in the next 10 years.

But even among those who voted for it, frustrations remained evident.

"The bill that is before us represents a number of compromises that were made on both sides," said Sen. Tom Harkin, the Iowa Democrat who chairs the Senate Health, Education, Labor and Pensions Committee, before the vote.

Harkin said the legislation is not what he would have written if he had the final say but he also said that he recognizes the need to restore the lower rates on students before they return to campus for classes.

"It's the best that we can do," Harkin said on the Senate floor. "If we don't pass this today, there will be one sure effect: student loans will be almost twice what they would be under this bill."

Most Senate Republicans who pushed for interest rates to be linked to the financial markets voted for the measure. It was negotiated by Democratic Sen. Joe Manchin of West Virginia and GOP Sens. Richard Burr of North Carolina and Lamar Alexander of Tennessee, the top Republican on the Senate Health, Education, Labor and Pensions Committee.

"They may come from different political parties, but they all really care about students. And this bill proves it," said Senate Republican leader Mitch McConnell of Kentucky. "And there's something else this bill proves, too: That Democrats can work with Republicans when they actually want to do it -- when they check their partisan, take-it-or-leave-it approaches at the door and actually talk with, rather than at, us."

The compromise negotiated in the Senate closely hews to what House Republicans passed this year, and that's a sticking point for some liberals.

Sen. Jack Reed, D-R.I., pushed for an extension of the current 3.4 percent rate so lawmakers could address the subject this fall during the revision of the Higher Education Act. Sen. Elizabeth Warren, D-Mass., has objected to students paying higher interest rates than the Federal Reserve offers to big banks.

"I understand that compromise isn't always pretty, but there isn't any compromise in this bill," Warren said last week when the deal was announced.

"In fact, I think the whole system stinks," she added during a Senate speech.

Sens. Patty Murray, D-Wash., and Al Franken, D-Minn., planned amendments that would redirect any profits made through the bill to help low-income students.

The Congressional Budget Office estimated the bill as written would reduce the deficit by $715 million over the next decade. During that same time, federal loans would be a $1.4 trillion program.

"We've got to get out of the business of making profits of struggling families who want nothing more than to be able to send their kids to college," said Sen. Bernie Sanders, a Vermont independent who caucuses with Democrats. "This legislation only makes a bad situation worse."

The Associated Press contributed to this report.

source: dailyfinance.com

College Costs Level Off as Use of Savings Plans Rises

Average spending on college for the recent academic year leveled out to $21,178, as the use of college saving plans increased to its highest level ever, according to an annual report by Sallie Mae, a financial services company specializing in education.

The report, called "How America Pays for College 2013" and released Tuesday, found average college spending declined since 2010, when families paid a peak of $24,097. Like last year, the report is based on survey results of about 800 undergraduate students ages 18 to 24 and parents of undergraduates.

Since Sallie Mae (SLM) released its first report six years ago, families have spent more on college, but with the recession, families became more cost-conscious, said Sarah Ducich, senior vice president for public policy at Sallie Mae.

While tuition has risen, the amount families spend has leveled off because of the choices they are making, she said.

For example, for the 2012-13 academic year, one-fifth of parents increased work hours or earnings to help pay for college in 2013, down from 24 percent in 2012. Forty-seven percent of students increased their work hours in 2013, and 27 percent chose to accelerate their course work to spend fewer semesters earning a degree, in an effort to spend less on college overall.

For the recent academic year, 52 percent of families eliminated certain schools from their selection decision because of how expensive they are, the highest percentage Sallie Mae has seen.

The typical family uses six sources of funds to pay for college, says Sallie Mae. For the recent academic year, the average family depended the most on grants and scholarships, which paid for 30 percent of college costs.

The following list comprises the whole pie of the average percent of total cost paid from each source:

    1. Grants and Scholarships: 30 percent
    2. Parent Income and Savings: 27 percent
    3. Student Borrowing: 18 percent
    4. Student Income and Savings: 11 percent
    5. Parent Borrowing: 9 percent
    6. Relatives and Friends: 5 percent

It's not just low- and middle-income families making choices to cut costs. Overall, 57 percent of the survey respondents said a college student is choosing to live at home to cut housing costs, up from 51 percent last year.

"I think it's been striking more than half of low income families and close to middle income families live at home. It's just one of the ways you save money to go to college," said Ducich.

But this year, a striking 50 percent of high household incomes of $100,000 and above said a college student was living at home, a jump from one in four college students in that household income range who lived at home four years ago.

Parents are willing to stretch their budgets and limits as much as they always have, but stagnant income levels have solidified their upper limits, said Cliff Young, managing director of polling at Ipsos and a co-author of the study.


Ducich said because parents are "taking control" of their college investment choices, they are reporting that they are less worried about rising cost of tuition and other college-related expenses.

When asked if parents reflected worry over the increase in federal student loan interest rates, Ducich said parents are focused on the overall cost, and not just rates.

But while students and families are not obligated to pay back federal student loans until after they leave school, Ducich encourages families to begin paying back while students are in school if they can.

Twenty-two percent of families report they are paying student loans while they are in school to reduce the cost, according to the Sallie Mae survey.

The biggest amounts of borrowing occur in unsubsidized Stafford student loans and Graduate PLUS federal student aid, Ducich said.

"When you defer your payments in school, all you are doing is borrowing more," she said. "Paying early to reduce cost of borrowing is a really good strategy."

source: dailyfinance.com

Get Scholarships and Grants for College

Considering the tremendous impact that having a college degree has on lifetime earnings, and the importance of scholarships for needy students, the scholarship application process is about the most important thing a teenager can undertake. Getting scholarships can be the difference between your investments in College having a positive or negative ROI. That is if they are planning on going to college – (make sure to read Derek’s great post on is it really worth it?). Since around 90 percent of all applications are thrown out in the first round of reviews because of common errors, it is important to avoid making these mistakes on scholarship forms.

Extracurricular Activities vs Academic Excellence

If you are a student whose scholarship application makes it through the first round, you are in for the real test. The second stage of the scholarship application process is where the judges increase their focus on the details, and where extracurricular activities assume almost as much importance academic excellence. There is no room for error in this very competitive process.

Best Places to Search For Scholarships and Grants

 

The best places to search for scholarships are government run institutions like…

1. https://bigfuture.collegeboard.org/scholarship-search
2. http://go.salliemae.com/scholarship/default.aspx

Make Sure You Are Applying for the Correct Scholarship

 

It is important to avoid the first basic error, which is applying for the wrong scholarships. Every scholarship fund has its own goals and purposes, and your achievements are not considered in a vacuum, but in relation to the fund’s objectives and the course of study you plan to pursue. So, don’t make the mistake of wasting your time (and the judges’) by applying for the wrong scholarship.

Assuming that you have determined the right places to apply for scholarships, you still need to avoid these common mistakes on your scholarship forms:

10 Most Common Scholarship Application Mistakes

 

1. Not meeting the minimum requirements, of whatever kind. If you apply for a scholarship requiring a foreign language you did not study or a minimum GPA you did not achieve, you should not waste your energy or the judges’ time. This is similar to the fundamental error, mentioned above, of applying for the wrong scholarship entirely.

2. Submitting the wrong items, or inappropriate ones. Baby pictures are not considered “your photo” in this stage of your life.

3. Making avoidable mistakes of spelling, grammar or facts. Even a single misspelling can damage your application, so use both a spell-checker and have a good writer or editor review your application.

4. Mailing the application package with insufficient postage. It may arrive to the judges with postage due, or be returned so it misses the deadline.

5. Leaving off all or part of your contact information (address, phone numbers, zip code). The head of a well known free scholarship search and information Web site polled over 40 scholarship judges, and was surprised at the number of reports of contact information being left off forms.

6. Submitting a wrinkled or stained application or supporting documents. Surprisingly (or perhaps not to teenagers’ mothers), scholarship applications often show the evidence of having been filled out while the applicant was eating or drinking soda.

7. Sending an envelope without the application in it. The scholarship service mentioned above reports that this is also quite common.

8. Submitting an illegible application. It is bad enough that some applicants fill out the applications and write their essays with poor penmanship, but those using word processors should know better than to use a script typeface in all capital letters, or a weird mix of different typefaces.

9. Making inappropriate or personal comments in essays or letters. Not only is it poor manners to tell judges how to do their jobs or criticize their work, it will almost certainly guarantee that they will tell other scholarship judges about you, and not in a good way.

10. Turning in an incomplete application package. If you are asked to include photos or other documents, make sure to do so.

It is said that these common mistakes are made by more than 75 percent of all scholarship applicants. In a process as important and life-changing as applying for a scholarship, it is important to do things correctly and show the right amount of care, concern and respect for the application package – not to mention yourself and the judges, too. You can assure yourself a fighting chance if you simply avoid making these mistakes on your scholarship forms, so slow down and be extra careful! If you are looking for other ways to get through college with no debt be sure to read Derek’s eBook here.

source: lifeandmyfinances.com

Financial Considerations for Students

For many young people, starting college or university is not just the start of their higher education but also the start of their financial one. This is a time when many younger people have to start fending for themselves financially. With this in mind there are a number of financial considerations to think about as a student.











Avoid the hard sell on credit cards

There is nothing wrong with having a credit card as a student providing you use and repay it sensibly. However, one thing you should avoid is signing up to a credit card following the hard sell from a provider that targets vulnerable groups. These cards often come with freebies to entice students but can often end up being far more costly than many other cards on the market. Therefore, if you do plan to get a credit card, make sure you do your own research and make your own decision about which one is best for you. Credit card debt can become a huge problem for people of all ages, and while there are experts that can help to deal with debt issues such as those at Consolidated Credit, it is important to take steps to avoid this type of situation, particularly when you are just starting out in adult life.

Raising extra cash

Student loans and grants don’t always stretch as far as we would like them to. Many students find themselves in need of extra cash and some end up taking the dangerous route such as costly bank loans or even loan sharks. You should avoid the latter at all costs and even bank loans should be a last resort. Instead, think outside the box and look at options such as getting a part time or Saturday job, selling items you no longer want or need, or finding out about top up grants and loans.

Don’t waste money on brand new books

Buying textbooks for your courses can be costly. Of course, you need to get the textbooks required for your course but there are other options apart from buying them brand new. You can look at borrowing them from the library, getting online and finding a second hand copy, or even sharing with friends who have already purchased them for their course.

Avoid the temptation to overspend on eating out

Many students find themselves eating out more often than not, but this can have an adverse effect on your health and your budget. Instead, buy yourself a student cookbook, which focuses on cheap yet nutritious meals, and learn how to rustle up some quick and tasty dishes at home.

Don’t become a party animal

Some students get carried away with parties, clubs, and nightlife when they begin their life at college. However, while this can be a novelty at first it can become a very costly habit in next to no time. Make sure you are careful about the amount you blow on going out and don’t spend more than you have budgeted each month on entertainment.

Being mindful about your spending and financial habits as a student will not only offer immediate benefits but can teach you valuable lessons for the future as well.

source: lifeandmyfinances.com

Five Tips for Paying Student Loans

You’ve graduated and you’re ready to take on the world. But what do you do about the college loan debt you’ve accumulated over the past four years? Depending on your financial situation and future plans, there are several options to make repaying student loans more manageable. Check out these five tips for paying student loans to help you combat the debt and reduce the amount of student loan interest you could owe.















1. Create a budget and automate payments: The most important thing you can do to repay your private student loans is to create a budget and stick to it. Set up automatic payments from online banking so that paying your student loan takes priority over other expenses. If you have a good month or get a bonus or raise, dedicate those funds to paying off the principal of the loan.

2. Defer college loans: If you’re planning to go on to graduate school, you have the ability to defer paying your student loans until after you receive your degree. Keep in mind you may need to borrow more to cover the cost of your continued education, so try to set aside savings each month in order to pay back your loans when you are done with school.

3. Join a program that agrees to pay your debts for you: Programs such as Teach for America and AmeriCorps offer tuition or loan reimbursement if you complete a set period of time with them. Usually these jobs have a lower salary and focus on cities in need, but if it’s something you’re passionate about, it can be good experience and provide coverage for your college loans. It is also possible to find employers who are willing to reimburse some or all of your loans. These may be harder to find, but it’s a question worth asking.

4. Consolidate debt: When it comes to federal loans, consolidating debt could get you a lower student loan interest rate, more reasonable payment schedule, or simpler repayment process. Talk to your loan administrator to determine how long it will currently take you to pay back your debt and discuss various consolidation options. Be sure to take your student loan interest rates and repayment schedule into account when you consolidate. Keep in mind that while you can consolidate multiple federal or multiple private student loans, you cannot consolidate federal and private debt together.

5. Enroll in an Income Based Repayment (IBR) plan: IBR can help make paying your Federal student loans more manageable. It reduces your monthly college loan payments by capping them at a percentage of your discretionary income. If you’re wondering how that works out, discretionary income is defined as your adjusted gross income minus 1.5 times the poverty rate for your family size. Plus, if you make on-time payments for 25 years, at that point any remaining college loan debt from federal loans is canceled.

Find a lender who will walk you through your student loan repayment

When you’re paying off your student loans, it’s a good idea to regularly communicate with your lender. Openly discuss whether you are having issues with repayment or if your income situation has changed. They can only help if they are informed. Depending on your original college loan agreement, you may be able to extend payments, thereby lowering your monthly payment, or consolidate for lower student loan interest rates.

source: 20smoney.com