In the midst of an election year, it seems news about the job market and student loan debt is all over the place, which can be a little scary to think about at the start of a new academic year. Although Savvy Student can not change the facts and figures being reported, we can certainly help by offering tips regarding your student loans and providing you with information as it relates to the inevitable job hunt.
In many cases, student loans are unavoidable: many students need loans for undergrad, grad, or both, and by the time one graduates, it seems that the loan total has skyrocketed. However, with federal loans you have until the end of the academic year to return or cancel any unused portion. Instead of borrowing the maximum amount in loans for the semester, only borrow what you think you need and try to differentiate between your needs and wants to come up with a bottom line. Federal student loan interest rates are lower than most credit cards, but interest does accumulate, so borrow only what you need and think about the cost involved over the life of the loan, as it may help deter your spending. Additionally, for every $1,000 borrowed you should plan on roughly $12 per month for repayment. You should also consider ways to cut back your spending or think of cheaper alternatives. As it is the start of the semester a large percentage of your refund check or expenses go towards the purchase of books, but instead of buying new try comparing the cost of renting your textbook or buying it used online.
Another helpful hint from our office is to read the fine print! Do you remember having to complete "entrance counseling" and sign that pesky "promissory note"? The copious amount of information provided during the online entrance counseling, while annoying to read through, actually contains many important facts that, in some cases, may leave you debt-free after graduation.
As for the job market and internship arena, the numbers may look glum, but that doesn't mean that your Brandeis education won't pay off. Visit the Hiatt Career Center to get help with your resume or to set up mock interviews. Practice makes perfect, so when you do get the call for an interview you will be prepared to make a great first impression and hopefully land the job. Also Forbes published a great article on what mistakes young job seekers are making. Whether you have done this or not please take note and check out the article here. And, finally remember the more applications you submit the more chances you have of getting a call back. It also pays to network as the phrase goes, it is not always what you know, but who you know.
Good luck this semester,
Savvy Student
In many cases, student loans are unavoidable: many students need loans for undergrad, grad, or both, and by the time one graduates, it seems that the loan total has skyrocketed. However, with federal loans you have until the end of the academic year to return or cancel any unused portion. Instead of borrowing the maximum amount in loans for the semester, only borrow what you think you need and try to differentiate between your needs and wants to come up with a bottom line. Federal student loan interest rates are lower than most credit cards, but interest does accumulate, so borrow only what you need and think about the cost involved over the life of the loan, as it may help deter your spending. Additionally, for every $1,000 borrowed you should plan on roughly $12 per month for repayment. You should also consider ways to cut back your spending or think of cheaper alternatives. As it is the start of the semester a large percentage of your refund check or expenses go towards the purchase of books, but instead of buying new try comparing the cost of renting your textbook or buying it used online.
Another helpful hint from our office is to read the fine print! Do you remember having to complete "entrance counseling" and sign that pesky "promissory note"? The copious amount of information provided during the online entrance counseling, while annoying to read through, actually contains many important facts that, in some cases, may leave you debt-free after graduation.
As for the job market and internship arena, the numbers may look glum, but that doesn't mean that your Brandeis education won't pay off. Visit the Hiatt Career Center to get help with your resume or to set up mock interviews. Practice makes perfect, so when you do get the call for an interview you will be prepared to make a great first impression and hopefully land the job. Also Forbes published a great article on what mistakes young job seekers are making. Whether you have done this or not please take note and check out the article here. And, finally remember the more applications you submit the more chances you have of getting a call back. It also pays to network as the phrase goes, it is not always what you know, but who you know.
Good luck this semester,
Savvy Student
No comments:
Post a Comment