Tuesday, October 31, 2006

College Grads moving back with Parents

Despite a relatively strong job market for new college graduates, many young people are moving back home with their parents. Some of the reasons are excessive debt loads, high costs of housing, and a general inability to meet their expenses. Many students live independently after school, but soon move back home.

How soon do they move back home? - three months of living independently is about as long as many students make it on their own. What is the significance of three months? -Bill collectors start pushing hard after 90 days of late payments! -so this is the time when young people tend to flock back to the nest.

Part of the problem is poor money management skills. Most young people have never been adequately taught how to budget, how to responsibly use credit cards, how to pay bills in a timely manner. Schools rarely teach these skills and parents tend to have little success in adequately training their kids in money skills.

Wednesday, October 04, 2006

Mumps Cases at College Campuses

There continue to be a mumps cases on college campuses.
The mayo clinic's website has some useful information about mumps and mumps prevention. It also discusses mumps on college campuses.

See the following link


Tuesday, October 03, 2006

College Student Expenses and financial aid

Average College Student expenses and financial aid

About 11.2 million college students, or more than half, received some form of financial aid from outside their families to help pay for their education, according to tabulations released by the U.S. Census Bureau.

Data are presented on types of costs, patterns of financial aid received, the extent to which the aid covers costs and the characteristics of the institutions attended — all shown by students’ demographic and socioeconomic characteristics. Some tables also illustrate how much the receipt of aid and coverage of costs vary by institutional characteristics.

Other highlights:
Annual tuition, book costs and room and board averaged $10,560 for full-time students. Cost increased to $13,699 for full-time graduate students.
The average amount of aid received by full-time students was $6,291. Full-time graduate students received an average of $12,081.
Source: From the US Census Bureau August 24, 2006 press release.

Tuesday, September 26, 2006

College Students Declaring Bankruptcy

Americans filing for bankruptcy grew 30% in 2005 to the highest level ever. Per the Administrative Office of the U.S. Courts, personal bankruptcy filings were in excess of 2 million in 2005.

Unfortunately young adults in college were probably a significant portion of this total.

A major cause of personal bankruptcy amoung young people is the lack of understanding of money management basics. Since schools rarely teach money management and personal finance classes to young people, it becomes the responsibility of parents to teach money skills to their kids.

http://collegeinfoforparents.blogspot.com/ regularly posts suggestions on how to teach your kids money management skills. Quick lessons on basic personal finance topics will also be posted.


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Cheating on College Campuses

While the latest communication technology brings useful capabilities, it also can facilitate bad behavior.
Some college students are using their cell phones to text message each other answers during exams. Additionally, students have taken pictures of tests with their camera phones and forwarded them to friends who have not yet taken the test.

We have heard of quite a few other sneaky tricks that students are using however we prefer not to publicize them. Let’s just say that, hopefully this 'ingenuity' these students eventually gets re-directed towards more noble objectives.

In upcoming entries, we will discuss some of the problems that colleges are currently facing with regard to unethical behavior.

Sunday, September 24, 2006

Parents Need to Educate Students about Identity Theft

Parents, make sure you discus the topic of identity theft with your college student.

Students need to understand how to protect themselves from falling victim to identity theft and information fraud. Identity thieves often know their victims; either directly or indirectly.

Thieves might be acquaintances, siblings of friends, classmates, co-workers, current or ex-boy/girlfriends, etc. Names, addresses, birthdates, social security numbers, account numbers, and other personal data are valuable commodities on the underground market.

An ex-boy/girl friend could easily possess all of this info. In fact, he/she might even know inside information such as passwords, PIN number, mother’s maiden name, etc.In upcoming entries, we will post tips to relay to your college student, on how they can reduce their risk of being victimized by indentity theft.

College Info for Parents

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