All posts tagged: college loans

The reason why higher education values time served rather than competency.

I remember vividly, my undergraduate degree. Semester after semester, I took 20+ credits, balancing private lessons with ensemble work, education courses, and my general studies. On top of that, I worked as an RA and held a few odd jobs over my time in school in order to make ends meet. The accumulation of work often buried me so deeply that I remember finishing each semester feeling like I had made it through the race but didn’t really have anything of quality to show for the work. One of the biggest reasons many of us are over stretched during college is that higher education values the amount of time we are physically in a classroom, rather than our ability to show competency. In Cracking The Credit Hour, Amy Laitinen takes an objective look at the state of higher education. This is a must read for all and here are a few takeaways from the report: The Credit Hour—the unit of measurement that determines competency for college students—was developed in 1906 by Andrew Carnegie. The reason for this …

Six ways to tackle your college loans

“The most important investment you can make is in yourself.” -Warren Buffett Yesterday, I wrote this post about things to consider when taking out College loans. As Warren Buffett mentions in the quote above, I still believe that taking out a college loan is one of the best investments you can make for yourself. Now that you are out of school and in the midst of your career, here is some quick advice on how to tackle your College loans. Write off the interest–“You can deduct up to $2,500 of student loan interest paid in a given year. As with many tax rules, there is an income limit to this deduction. Your modified adjusted gross income cannot be more than $80,000 (or $160,000 for married couples filing jointly).” (Source: Huffington Post) Refinance– The national interest rate for federally funded college loans sits at 4.45% as of August, 2017. If you have any loans higher than that, see if you can refinance and lock in the rate now before they go up. If you took out a private loan, which often has interest rates much …