Pinoys in Nevada laud Clinton's plans for higher education

LAS VEGAS, NEVADA - If she becomes president, Hillary Clinton promises to make education affordable for millions of Americans.

Under Clinton’s plan, families with income up to $125,000 a year will pay no tuition at in-state four-year public colleges and universities by 2021.

This benefit immediately applies to families making $85,000 or less a year. All community colleges will also offer free tuition.

The situation in the Silver State is pretty dire when it comes to education.

The outstanding federal student loan debt among Nevadans now exceeds six billion. About one in every two Nevadan graduates of four-year colleges is in debt, with an average balance of a little over $20,000.

Filipino parents like Ramil Mactal are hoping for relief to come soon.

“If it helps even in one family, it’s worth it. I mean, I’m sure it’s gonna help a lot of people and, you know, those people that needed it, it’s good for them,” he said.

College student Lynette Hull says Clinton’s plan will help many struggling immigrant families.

“It’s gonna help my family and a lot of Pacific Islander families across the state and really just minorities in general. Like, particularly my family, we would save $26 thousand with her new plan. That’s a lot of money that could go to my future like law school and all that kinds of stuff,” she said.

Clinton’s plan would also allow borrowers to refinance loans at current rates, benefiting about 25 million people.

The Democratic presidential candidate also intends to take immediate executive action to offer a three-month moratorium on student loan payments to all federal loan borrowers.

This would allow borrowers to consolidate their loans and avail of repayment plans to reduce their monthly interest payment and fees.

“Our students deserve every kind of help that they could get to get the education that is needed and I’m all for it. said Rozita Lee, a community leader.

"It would definitely help that’s why I wanna be sure that we know when and where to apply for it so that we can get our Asian-American and Pacific Islander students to be there to apply,” she added.

source: www.abs-cbnnews.com

Top 10 most expensive colleges, universities in PH

The cost of education in the Philippines continues to rise, as the Commission on Higher Education (CHED) recently approved the increase in tuition and other school fees of 313 private higher education institutions (HEIs).

Of the 313 institutions, 283 will increase tuition, while 212 will increase other school fees.

According to CHED, there will be an average increase of 6.17% for tuition, equivalent to P29.86 per unit.

Other school fees, on the other hand, will see an average increase of 6.55%, equivalent to P135.60.

Here are the top 10 most expensive colleges and universities for this school year:

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

source: www.abs-cbnnews.com

How to deal with rising cost of education

MANILA – The rising cost of education has tapered a bit over the last decade but it is still huge.

The Department of Education (DepEd) has been making some headway in improving the public school system but this is a long struggle, according to financial adviser Salve Duplito.

“Public schools now are still crowded, lack well-trained teachers and funding for technology,” she said on ANC’s “On The Money.”

Duplito noted that the rising cost of education presents a harsh reality, and eventually, only the very rich will be able to afford quality education in the country. The rest of the population will likely go into debt, sell assets, or forego investing for their own retirement to afford quality education.

Citing a study by Pathways for Higher Education, Duplito said some public schools provide quality education, allowing its students to beat those from the country’s top private schools in national examinations.

There are three factors for quality education, the study said: very good principal, good teacher trainings, and committed parents.

“When choosing a school, don’t just go for the ones with the best names. You can look for high quality, low cost education by considering public schools with the best principals and those that train their teachers well,” said Duplito.

To deal with the rising cost, Duplito shared these strategies:

1) Create a sinking fund for education expenses

Set up a separate account dedicated solely for tuition expenses, and transfer money monthly from your expense account to this account.

2) For future education expenses (at least 5-year horizon), put your money in a low-cost mutual fund or unit investment trust fund

Go for index funds with no entry fees and a management of at most 1.5 percent.

3) If you know how to pick stocks, look for 10 stocks that are not overpriced

Choose companies with good management, who are transparent and accountable, and whose products and business model can survive the test of time.

“The worst thing that parents can do is to depend on current income to pay for education costs. Anything can happen to us. The ‘bahala na’ strategy is the worst strategy for paying for education costs,” said Duplito.

She added that education is an investment, and its rewards are far greater than the cost of tuition.

source: www.abs-cbnnews.com

Why you should start investing in yourself

Seven steps to a better you

MANILA, Philippines - For parents with school-age children, May is that time of year when expenses start pouring in – from tuition to school supplies, in anticipation of the school opening in June.

And why not? Education is prized all over the world, not only for the learning, but also for the opportunities that it creates. Although it cannot be quantified or put into one’s personal net worth statement, education is an asset that could be worth as much as your bank account, the properties you own, or any of the assets you have accumulated.

Given the ever growing demand for new skill sets in the business world, learning should not stop after you graduate from college. It is imperative for people to continue to upgrade their knowledge and skills, and hopefully, create something of value in the process. So why not consider going back to school yourself? There are many ways to upgrade, either formally or informally.

Formal ways to upgrade your skill sets are done through higher education courses or any other training sessions in an institution. This would include post-graduate studies, executive education courses, diploma courses, certification programs, and the like.

Formal education courses have several advantages. The most important of these is that you are conferred a degree which can help raise your market value and allow you to meet the minimum requirements for some positions in some organizations. It also deepens your understanding of important areas in your field of specialization, introduces you to new concepts, techniques or ways of thinking, and allows you to network with people in the same field.

Formal education courses come at a price, which may vary depending on the institution or course that you have chosen. Many formal courses require full-time attendance, which may require you to leave employment.

There are also shorter formal education courses offered by organizations, running from as short as two weeks to six months, which may or may not require your full time attendance. Thankfully, technology has made available blended learning courses which allow a mix of face-to-face sessions and online discussions.

Informal training courses, on the other hand, may take the form of on-the-job training, apprenticeship or mentorship programs. They are often offered by companies to their own employees, although there are institutions that take in students specifically for this.

Some of these courses are focused on very specific skills, which may be most handy for immediate use in the workplace. Often, these run for a shorter period than formal courses, and may not cost as much. As such, you may not have to resign or take a long leave or sabbatical from your job when you enroll in such courses.

One of the biggest considerations of those who are thinking about pursuing higher education is the cost that it entails. Another is the time that they will have to allot for it, which may mean taking a leave from employment and subsequently, having no income during that period.

There are, of course, no hard and fast answers for those who are weighing their options. Each person’s circumstances and priorities are different, and decisions have to be made after careful consideration of many factors.

A single person in his third year of employment in a large multinational firm, for instance, has a different set of considerations from an individual with four dependents who is in his 15th year of employment in a microenterprise with a staff of 4. Your decision will also be influenced by your life plans, financial goals, and state of finances, among others.

If you would like to pursue higher studies now or in the future, here are seven points to help you in financing your plans to pursue higher education:
1. Look for scholarships. Many institutions offer scholarships to those who would like to avail of higher education courses in fields that they support. Apart from the universities themselves, look at foundations, industry associations, embassies, and the like.

2. Ask for a subsidy from your company. Some organizations will be willing to absorb the cost of your training, in exchange for time served in terms of employment. This is a win-win situation for you and your firm, as it allows the company to benefit from the training you will receive.

3. Ask for a sabbatical. Not only firms offer a sabbatical leave, but you can work this out with your employer if your concern is being out of a job right after your graduation.

4. Take out a loan. Just as you can take out a loan to finance a vacation getaway or a car, so can you take out a personal loan for your own degree.

5. Save for it. If your plan is to pursue a higher degree sometime in the future, begin a sinking fund where you can put in some funds regularly and invest it in a fund where it can grow. Draw on this when it is time to pay for your tuition.

6. Find some part-time jobs or projects. You may have lull periods while you are studying that you can use to take on some small projects, which can help fund your expenses while you are studying.

7. Consider other learning approaches, such as online courses. Online courses may allow you to keep your present job by not requiring your physical presence in the classroom. This will also help minimize your travel, lodging and other study-related expenses. What’s more, they cost less, if not come for free.

Here’s a to better you – and remember, learning is a lifelong process. Never stop!

source: www.abs-cbnnews.com