University Life: a course in personal financeWritten by Richard Green
Recent findings from Educational Policy Institute indicated that UK is third most expensive place in world to go to university. Combine this with figures from Prudential, showing that a third of university students have considered abandoning their studies due to financial strain they have encountered, and it is not surprising that many prospective students are finding need to seriously think through merits of going to University.
Whilst it is true that there are currently loans available from both government and from banks that are designed to see students through their period of studies, for many this will mean emerging into their adult life with mountains of debt. Barclays Bank has stated it believes that once top-up fees are introduced it will cost about £33,000 to put a child through university in England and Wales. At a time when number of students has greatly increased and number of high paid graduate careers appears to have diminished, students now have to factor in cost of living when making important decision of where to study. In an article by Scotland On Sunday (http://business.scotsman.com/archive.cfm?id=644512005 ), experiences of a university student from Glasgow show that question of finance already weighs heavy for some students in their choices of where, or even if, they can study. Moving out of parental home to take full advantage of university life may become less of an option for students as costs increase and financial assistance decreases.
The president of National Union of Students in Scotland, Melanie Ward, said: "I think most students underestimate amount of debt they will leave university with, which will be above £13,000."
With graduates needing to earn £22,000 a year in order to pay off anything more than just interest on their student loans, many people are in their 30s or even 40s before their debt is fully cleared.
Graduates are also finding that they have to make tough decisions as soon as they complete their courses. With banks, building societies, credit card companies, and other private sector lenders requiring sums borrowed to be repaid. The immediate question of, “Do I build on knowledge, work experience and internships, that I've had over last few years and pursue my dream career, or does chasing of perfect job I’ve been working towards for years, have to take second place to getting back into black?”, is now an all too intrusive reality for many.
Money Making – Money Saving Tips for College StudentsWritten by Linda Correli
Money is something that is difficult to get, but easy to get rid of. However, if you are smart about handling your money, you can get through college or university paying less and making more.
While studying, main source of income for you is your scholarship and some sum of money from your parents for your minor expenses. However, we all know that this is not enough to survive. The most realistic and easy way to earn some extra money is to get a grant or find a part time job.
Your college or university can you grants based on your academic performance. To get good grades is an easy way to get tidy sum of money at end of semester. However, to earn money in such a way takes time, persistence and a lot of efforts. Grants range from $1,200 for an A+ to 300 for a C-. Not bad really.
Besides, this way of getting money has a lot of pros. You not only get money, but heaps of knowledge in addition. Bear in mind rather hackneyed saying “Knowledge is power”. Knowledge will never be a heavy burden to you and probably some day you’ll take lots of benefits from it.
Another efficient, commonly utilized way of earning money is finding a part-time job. Many students took an advantage of earning money this way. Really, it has a lot of merits.
-You gain financial independence, so you can command your finances in way you like and relieve your parents from financial burdens. -It helps you apply your knowledge in practice, realize yourself and feel more confident and mature. -It is a great experience for your future job. It helps you understand real value of money and gives you insight into what work is about. -You penetrate into adults’ world and foster a sense of competition. -It makes your life more colorful and is good for your personal development. -You get acquainted with new interesting people and study from them. -You get a roll of hard-earned money and can be proud of yourself.
Be prepared that you won’t find a job immediately. The employers aren’t waiting specially for you with arms wide open. Remember that market is full of people searching for a job. And one more point is that you shouldn’t expect to get high salary at once. Though it is just a temporary place to work where you get some extra money.
For a start, below listed jobs is thing you might start with, as you don’t have to possess any special skills and they can become a good beginning for your upcoming job. - Wash car - Pet sitting - Recycle soft drink cans - Baby sitting - Mow lawn - Weed garden - Garage sale