CMC_Debt(lg).2014

Biden Erases Default or Delinquency Status with Latest Student Loan Payment Pause

In addition to extending the pause of Federal student loan repayments to August 31, 2022, any borrowers who were in default or delinquency prior to March 2020, will have their status reset when repayment is scheduled to start on September 1, 2022.  ….all borrowers with paused loans to receive a ‘fresh start’ on repayment by eliminating the impact of delinquency…

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More and More Ivy league Colleges, plus Stanford, Will No Longer Report Admit Rates

In college admissions, applicants often perceive exclusivity, translated as less than 5% admit rates, as a higher quality education, and (sometimes more importantly) a guarantee of lifetime prosperity, The Golden Ticket, as one is forever branded with elitism. However, in coming years, applicants may be guessing more often than not about the selectivity of a university.  Several highly selective universities,…

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Quote: Ferris Bueller

Choosing a Career is Just That, A Choice

In response to Art’s recent post, To Choose or Have Others Choose for You, a Reed College student who’s finishing her first year, shared the following in a recent text conversation. Since many other students are likely in a similar predicament, I’m passing her message forward:  I’m so glad other students have the opportunity to read this article. I definitely…

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Medical School Applications: Opportunity for Clarity within Complexity

Answering “Why do you want to be a doctor?” is the essence of medical school personal statements. Aspiring family practitioners, specialists, surgeons, radiologists, you name it, must make an argument why they are a healer, who needs additional training to gain a greater realization of an inherent ability for easing other humans’ suffering of both body and mind.  As a…

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Millennials Will Not Be Better Off Than Their Parents

For the first time in US history, the younger generation will not gain more wealth in their lifetime than their parents. As Scott Galloway points out, Millennials are the largest percentage of full time workers in the US, but economic growth has been slower than for their parents at the same age.  Furthermore, Millennials hold 31.4% of all student loan…

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2022-23 Student Loan Borrowers Beware: Rising Interest Rates

Each July, Federal student loan interest rates are reset for the upcoming school year using the formula of 10-Year Treasury Rate + 2.05%. Currently, as of today, May 12, 2022, with the recent .5% interest rate increase, the 10 year Treasury interest rate is 2.91%.  Thus, although the Federal student loan interest rates are fixed for the life of the…

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See, Speak, Hear no evil monkeys

Post Fall 2022 College Admissions Decisions Analysis

Each Spring, I’m often asked, “Why wasn’t I admitted to _____ University, when others with lower GPA’s (grade point averages) and fewer extracurricular activities were accepted to that same university, believing a particular set of qualifications automatically merits an acceptance, while those “lesser” qualified should be denied admissions, a misconception of the modern academic meritocracy.  In the current K-12 meritocracy, students…

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Advice From One Transfer Admissions Student to Another

Transferring from one college to another is disruptive: moving to a new city, leaving the family home for possibly the first time, establishing new friend networks in a new place. Being 19-20 years old and taking more specialized, upper division courses, typically, transfer students are seeking other older students, but often worry about breaking into already established friend networks.  One…

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CMC_Debt(lg).2014

Housing Crunch

While annually rising college tuition is regularly reported in the news, frequently prompting much concern and discussion, few families discuss increasing housing costs. Yet, depending on the city where the college campus is located and the availability of on-campus housing, where to live can quickly create additional costs, both in opportunity and financially for undergraduates.  First, for young adults who…

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College Price Is, Contrary to Popular Opinion, Negotiable 

Warren Buffet famously stated, “Price is what you pay, value is what you get.” Thus, in valuing the education at one college in comparison to the education at another college (or even a third campus), contrary to popular belief, families have the advantage.  Families can negotiate college price, known in educational parlance as “Cost of Attendance” to reduce out-of-pocket costs,…

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To Choose or Have Others Choose For You, That is the Question

Another generation is on the cusp of deciding what to do next, now that their youth has come to end. Those who applied to college then gained acceptance now must decide where they will be attending college in the fall and more importantly why, and for what purpose.  Many college graduates when confronted with why they were accepted to college,…

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Maybe…Letters of Continued Interest

There are three college admissions decisions: admit, deny, and the most confusing of all, Waitlist. Yet, students, choosing to remain on a waitlist by “opting-in” before the deadline posted in the admissions letter, should be sure they understand what the choice entails.  First, understand there is no guarantee that any students will be considered for admissions from the waitlist. But,…

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Comic: I'm more confused than a chameleon in a bag of skittles

Post College Admissions Decisions Drama Unfolds

In the aftermath of high school seniors receiving their Fall 2022 college admissions decisions, many people are acting as amateur college admissions officers, including applicants’ themselves and their families. Many speculate why someone was denied, yet another (who seems less qualified) was admitted.  In the speculative frenzy, often, urban myths are perpetuated:   MYTH: Out-of-state applicants, who pay more tuition, are…

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The Stages of College Admissions Grieving

“I’ve been rejected” is typically how students translate being denied admissions to a college. (Although, in reality, such a view is not true, many students, who have been trained to seek outward validation from teachers, parents, coaches, club sponsors, tutors etc as the arbiter of being “right”, “smart”, or “capable” thus worthy, lump admissions officers in the same category, thus…

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