Tip of the Week - April 25, 2011

10 Scam Warning Signs, Courtesy of FastWeb

Knowing these warning signs can keep you from being a scholarship scam victim.
1. Fees: You shouldn't have to pay to search for or apply for scholarships. Check out the free scholarship search atFastWeb.com.
2. Credit card or bank account information needed: You should never have to give credit card or bank account information to award providers.
3. Scholarship guarantee: No one can guarantee that you'll win a scholarship because no one can control scholarship judges' decisions. Also, be wary of "high success rates"—they usually do not refer to actual award winners.
4. No work involved: You can't avoid putting in time to fill out a scholarship application.
5. No contact information: Legitimate sponsors should provide contact information upon request. If the sponsor does not supply a valid e-mail address, phone number and mailing address (not a PO box) after you've asked for one, that could the sign of a scam.
6. Unsolicited scholarships: If you are called to receive an award for which you never applied, be alert—it's most likely a scam.
7. Pressure tactics: Don't allow yourself to be pressured into applying for a scholarship, especially if the sponsor is asking for money up front.
8. Claims of "exclusive" scholarships: Sponsors don't make their scholarships available through only one service.
9. Sponsor goes out of their way to sound "official": Scammers sometimes use official-sounding words like "national," "education" or "federal" or they display an official-looking seal to fool you into thinking they are legit. Check with your school if you question a scholarship provider's legitimacy.
10. Your questions aren't answered directly: If you can't get a straight answer from a sponsor regarding their application, what will be done with your information or other questions, proceed with caution.

Tip of the Week - April 18, 2011

10 Financial Tips for College and “Soon-to-Be” College Students

1. Use Credit Cards Sparingly
Use credit cards wisely because this is a chance to establish a solid credit history. Watch the interest rates. Don't be suckered by low introductory rates. Expect the interest rate, or annual percentage rate (APR), to climb above 20% in three to six months. Don't use the card for routine living expenses or a night on the town.
2. Pay all Credit Card Balances in Full
Remember: Credit is a loan--and it doesn't come from The Bank of Dad. That means any balance on the credit card must be repaid. Get a card with a low limit. Shop around for the best deal and read the fine print before signing up. If you move, inform the bank of your new address. Guard your credit card number and close unused accounts.
3. Get the Best Deal on a Checking Account
Shop around before opening a checking account. Smaller banks may offer a better deal. Compare fees. Ask if there's a fee for dealing with a teller, including deposits or withdrawals. Ask if there's a fee to use a debit card. Ask about ATM fees. Ask if overdraft protection is part of the student package. If not, ask about linking such coverage to a bank-issued credit card.
4. Keep Track of your Spending
Use cash whenever possible because counting out the bills underscores the connection between the purchased item and money leaving your wallet. Use a debit card before a credit card for the same reason. Keep track of spending because a budget means nothing without accurate accounting.
5. Set a Limit on Entertaining
Set a limit for walking-around money and stick to it. Hitting up the ATM for another fistful of crisp twenties is easy--and guaranteed to deplete your bank account.
6. Keep an Eye out for Free Money
Apply for scholarships. This requires digging and persistence. See what's available. Don't be bashful. If you have a shot, apply. If it's a long shot, how can you go wrong for the price of a stamp?
7. Get a Part-Time Job
Check out college work-study programs. A few jobs may be related to your studies. Otherwise, look for a job with tips such as waiting tables, parking cars or delivering pizza. Summer work is a necessity for many students, but don't overlook internships--they're a good way to get a taste of what you may make a career and establish contacts in the field.
8. Avoid taxes on Stupidity
Avoid unnecessary expenses at all costs. Parking fines are a tax on stupidity or laziness. Read the signs and follow the rules. This goes for little things like returning library books or videos. Pay your bills on time or you'll get stuck with a late fee.
9. Don’t Eat Out All the Time
Pack a lunch. This will save you big bucks. Don't eat regularly at fast-food restaurants because it will reduce your bank account while bloating your belly. At the supermarket, buy the house brand and increase your savings. Never shop on an empty stomach.
10. Look for Student Discounts
Clip coupons. Many businesses give students discounts in an effort to establish a relationship that will continue when they enter the real world and start earning a paycheck. Take advantage of the perks. Be on the lookout for deals on plane tickets, pizza, books, clothes--everything. The student newspaper is a good place to start. The Internet can be a gold mine of discounts.

TIP OF THE WEEK - APRIL 11, 2011

"CAMPUS SAFTEY"

Safety First!

One of the most important issues in choosing a college is often the most overlooked: the safety and security of your collegiate environment. Different universities handle safety differently, depending on their location and campus size.

Most colleges devote a significant amount of resources to issues of safety and security, and several safety measures have become standard on most campuses.

Call boxes

Most campuses have a number of call boxes prominently situated on campus that can immediately signal the campus police department. The phones tend to be located near buildings that receive a lot of late-night traffic - the library, student center, dorms. Once activated, police response time is usually very fast. Ask your school if they have a call box system in place.

Campus police

Whether as a fully commissioned police force or an auxiliary police force, campus police are usually a strong presence at universities. The department usually has a working relationship with the local city police, and most campus officers have full arresting powers.

Campus escorts

These student volunteers will meet you wherever you are on campus (library, class, another dorm) and actually accompany you back to your dorm. They are usually available throughout the evening. This is an excellent option if you're planning to take an evening class or have evening study sessions.

ID checks

Student ID checks are becoming increasingly common, particularly on weekends when students have more visitors to campus. You may be required to show your ID when entering dorms and other campus buildings, as well as at sporting events. Many campuses also require all visitors to sign in when entering a campus building.

Self-defense and safety classes

These free classes are usually offered through the campus police department. Most safety classes occur during orientation and self-defense classes are often available throughout the course of the semester. Resident advisors should have information on the kinds of safety classes available on campus.

These are just some examples of security measures on college campuses. You should investigate that school's security measures, as well as recent crime statistics (available in an annual report that all colleges and universities are required to produce). Give campus security the same attention you give to academic programs and professors, and make sure that you're in a comfortable and safe environment.

TIP OF THE WEEK - APRIL 4, 2011

Top Paying Degrees

Whether you are in college or a prospective student, not all majors earn you the same salary. Of course, you should never choose a major just for the money. If you don’t enjoy the work, then all that money will never equal the dissatisfaction you have for your job.

Luckily, there are many majors in numerous fields of studies to choose from that will pay high starting salaries to recent graduates. According to the National Association of Colleges and Employers (NACE), here are the 10 top paying degrees and their salaries:

1. Chemical Engineering ($64,641)

2. Electrical/Electronics Engineering ($61,690)

3. Computer Science ($61,783)

4. Mechanical Engineering ($60,598)

5. Aerospace/Aeronautical/Astronautical Engineering ($58,208)

6. Management Information Systems/Business Data Processing ($54,687)

7. Economics ($51,698)

8. Civil Engineering ($48,885)

9. Business Administration/Management ($44,171)

10. Marketing/Marketing Management ($41,948)