Financing Higher Education—Checking Out Education Loans

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February 2007

The cost of post-secondary education—college, university, community college or career or trade schools—continues to rise. But pursuing higher education can be worth the investment. A recent report "Education Pays 2006" from the College Board found that in 2005 women (aged between 25-34) with bachelor's degrees earned 70% more than women in the same age group who had only a high school diploma. Men in this age group with bachelor's degrees earned 63% more than male high school graduates. And on average how much more did the college grads earn? $14,000 a year.

Most important, there are many sources of financial aid to help you pay for post-secondary education. The College Board reports that approximately two-thirds of all students receive financial aid. Although at the mention of "financial aid" most of us think "scholarships" or "grants" (assistance that does not need to be repaid), in fact, education loans of many types make up a substantial portion of the financial aid available to many students. This report takes a look at the most common loan opportunities available for higher education and provides information on how you can learn more.

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Shopping Safely Online

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January 2007

Throughout 2007, the number of people shopping online and the number of purchases online is expected to continue to grow rapidly. Whether you buy online frequently or just occasionally, online shopping isn't risk or hassle free, however. As you start the New Year, here are some good pointers and tips for shopping safely on the Internet.

How should you pay for your purchase?

Always make payment for your purchase through the shopping cart or payment service setup by the website. If any seller wants you to make other arrangements to send the payment don't complete the transaction.

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Thinking of Donating Your Used Vehicle to Charity?

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December 2006

Dozens of radio and TV ads from many different charities are currently flooding the airwaves suggesting that you donate your used car or boat. Are you considering it? If so, then you need to know how the 2005 changes in IRS rules might affect the tax deductibility of your gift. You also need to know how to check out the charity you're considering. This month's review will help you do these things wisely. Planning to donate to a charity but not necessarily a vehicle? You'll want to read this review too. I'm going to start with the most important thing—how to check out the charity so that you know your dollars will go where you want them to. Then, I'll share the technical details about vehicle donation.

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Opting Out for Peace and Security

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November 2006

Are you tired of finding your mailbox loaded with unsolicited credit card, mortgage, and home equity loan offers? Are you tired of your phone ringing with offers from telemarketers? Are you tired of junk mail? Would you also like to do something to take your name out of circulation for various solicitations? Then read on. This month's report provides more information about some of the topics about privacy and personal security I touched on during my recent visit to Corning CU.

Did you know that in about an hour, you can reduce the amount of junk mail and unsolicited offers in all forms that you receive? That's about the amount of time it will take you to opt-out.

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Bankruptcy — An Updated Fact Sheet

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October 2006

Consumer debt, not including mortgages, in the U.S. has climbed to over $2 trillion and continues rising. Part of this surge represents growing credit card debt. Meanwhile, the Federal Reserve's campaign to keep inflation in check has forced interest rates higher. Rising interest rates in turn make credit card debt more expensive to pay off. To add pressure, the housing boom also appears to be cooling and in some areas growth in housing values has not just slowed, but declined. Higher interest rates and lower housing values make home equity loans harder to get and less attractive. In real life, all these economic "trends" mean that many consumers are getting deeper in debt and may be finding it harder to make ends meet. Some of these consumers may be considering bankruptcy.

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