Happy Halloween from Spooky Student!

The Halloween season is in full, spooky swing. Halloween is TOMORROW!! This year, our office has gotten more into the Halloween season than ever before! Here's what we're doing this year...


Halloween for the Hungry

The Office of Student Financial Services is one of the many locations at which you can donate canned goods for Halloween for the Hungry. The canned goods that you donate to this box will be given to the Waltham Group. They will ensure that your donation goes to those in need!

Our donation bin (pictured above) is located in the lobby of our office. Come by and donate!


Decorations

In celebration of this festive and fun time of year, our office has been decorated by our staff members! In order to get the full effect of our spooktacular decor, you'll need to come by and see for yourself. However, here are a few photos to offer you a sneak peek.

Activities

On Halloween, the Office of Student Financial Services will have a bunch of activities and fun things in which you can participate!

• You can come in to our office and try to guess how many dum dums (lollipops) are in the jar! If you win, you'll get the ENTIRE JAR of dum dums!
• You can (correctly) fill out the Academic and Financial Services word search to be entered into a spooky, fun raffle. If you are one of the four winners, you'll get either a $10 GIFT CERTIFICATE to Dunkin' Donuts, or the grand prize: a gift certificate for a FREE MASSAGE at Massage Envy in Waltham!
• If you like our decorations, vote for OUR office to be awarded "Best Decorated Office!" There is a box to cast your vote in the Academic and Financial Services lobby!

Have a happy and SAFE Halloween!
~ Spooky (Savvy) Student

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Cost Conscious Costumes for a Happy Halloween!

Are you still on the hunt for a Halloween costume? Well look no further. Here are some of the best ideas we've found for DIY Halloween costumes that are easy and cheap to make!

Individual Costume Ideas:

Bat:

Use an old black umbrella to make bat wings.Dress in all black to complete the look!

Giraffe: 

Grab a yellow shirt and brown construction paper to make a giraffe body. Then take brown face paint and give yourself an awesome giraffe face!

Hawaiian Punch:

Grab a grass skirt, and any other Hawaiian themed garb you can think of, and add a pair of boxing gloves to create this knockout costume! 

Arthur:

Grab a pair of jeans, red converse, a yellow sweater, a round glasses, to complete Arthur's signature look!

Group Costumes:

Peanut Butter and Jelly:

Wear color themed shirts and make a sign for yourself!

Rock, Paper, Scissors:

Grab three of your friends, some cardboard, and play this fun game!

Grapes:

You can do this alone or with a group, but just blow up a bunch of balloons and stick them all over yourself!

Ice Cream Cones:

Grab a group of friends, some funky colored fabric and create a cone skirt! Then take a t-shirt of any color and create your own custom flavor! 

And of course, if you have a pet, there are tons of costumes you can make for them too!

For more tips and ideas, check out these articles!

http://www.buzzfeed.com/alannaokun/30-halloween-costumes-you-can-make

http://www.creatingreallyawesomefreethings.com/diy-adult-costumes/

http://www.pinterest.com/goodwillwm/diy-halloween-costumes/

http://www.buzzfeed.com/regajha/punny-halloween-costumes

http://www.buzzfeed.com/gabbynoone/14-super-simple-halloween-costumes-you-can-make-with-3-piece

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These Figures Will Knock Your Red Sox Off

Congratulations to the Boston Red Sox! We are headed to another World Series and can not be more proud, or excited for our team.

In celebration of this milestone- their third World Series run in ten years ( 2004, 2007, 2013), we thought it would be fun to compare ticket prices from past games and tie them into a fun Savvy Student post on Money Management!

Let's get started...

In 2004 World Series tickets averaged around $1800.

In 2007 the average cost of a playoff ticket decreased $300, to a whopping $1500.

You can read about the ticket controversy surrounding this World Series game by reading the Wikipedia article here.

According to StubHub, tickets for Wednesday's game are starting at $424. Yahoo.com is reporting ticket prices in the $300's which represents a premium of 227% over regular season ticket prices. Better seats come with more expensive price tags, of course. As the Sox move further into the series, ticket prices will also rise; some websites are listing ticket prices over $6k for field seats behind home base when purchased in groups of two!

Being that Boston is such a spirited city, you cannot help but feel the excitement even when the cost of these games is a bit astronomical. Witnessing baseball history being made is priceless, right? Unfortunately, if you are not in the income bracket where this is just a minor splurge, then chances are you will be watching the games on a flat screen TV somewhere- which might be the best option for some Savvy Students. If you're still bummed about missing some big games, try looking at it this way:

• The money spent on just one game for this series is roughly the equivalent to one cup of Starbucks coffee each weekday morning for an entire year. 
• If you were to have gone to a game in 2004 at a price tag of $1800 you could also afford dinner out every Saturday night from now until next October- assuming your meal is around $30. 
• Rather than scoring tickets to the game in 2007, you and a partner could have flown round trip to London, or Paris. Better yet, although not as fun- if you don't splurge on tickets to this year's series, but you instead put money into savings you would only have to put aside around $8 a week for a year to save more than the cost of a ticket valued at $446. 

We could do these comparisons all day, but you get the point!

Whether you are watching the series live in Fenway or on a flat screen, enjoy the game (safely)! Don't forget to designate a driver.

Go SOX!!!!

~Savvy Student

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Don't Worry College Students! The Government May Default on ITS Loans...

As we reach day eight of the government shutdown, this Savvy Student can't help but wonder what kind of financial impact this frustrating and fruitless occurrence will have on the country as a whole. Whether you're a Democrat, a Republican, an Independent, or a member of any other possible political party, we can all agree that the financial effects of a government shutdown are not going to be positive. The last government shutdown occurred eighteen years ago and "the price tag of $1.4 billion, sometimes converted to $2.1 billion in today's dollars, has been wielded by politicians, pundits, and the press as a reason not to halt all nonessential government functions" (The Wall Street Journal). Yet, here we are eight days into a government shutdown that has no quick and simple ending in sight. While we wait for the shutdown to end and the final financial impact to be revealed, Savvy Student has been doing some research and gathering some information.

The general consensus about this government shutdown seems to be that there will be no drastic effect on the economy. However, the effect on the debt ceiling could be catastrophic: "The government could run out of money to pay its bills as soon as the middle of this month if Congress fails to raise the borrowing limit" (The Washington Post). If this were to happen, it could result in a permanent increase in the nation's borrowing costs.

While the general consensus may be that there will be no drastic effect on the economy, there is still a definite effect! Many types of businesses that rely on federal works may not be able to make up the revenue lost during this government shutdown. Additionally, sources of revenue like tourism will undoubtedly take a hit with national museums and parks closed until the end of the shutdown.

If you're a person who is more into figures and numbers, Savvy Student has an image from the Wall Street Journal that may put a few of the financial implications of this shutdown into perspective for you. The image below demonstrates some of the anticipated financial hits that will be taken by some of the biggest names in the country, such as Wells-Fargo and IHS Global Insight.

After reading the facts, opinions, and tentative research of those who studied the shutdown that occurred eighteen years and those who are focused on our present-day shutdown, this current predicament does seem rather daunting. Although many private companies can find ways to reach a consensus on important issues without putting their company at risk, it seems to be more challenging for Congress to achieve that goal. No matter what your thoughts are regarding this issue, we hope that you now find yourself better informed about the specifics of the government shutdown.

Wishing for a quick resolution!
~Savvy Student

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Free Fall Fun!

New England is an excellent tourist destination in the Fall and many of us take it for granted that we attend school in such a sought after location. With plenty of visitors from out of state (and even out of the country!) spending money on plane tickets just to see the leaves changing in New England, we'd all be remiss not to enjoy the entertainment opportunities that exist (for free) a short bus ride away.

Take a well deserved study break and enjoy any of the following free activities/sights in the Greater Boston area (transportation to destinations may not be free, but will be very inexpensive on the T)

• Visit Jamaica Plain's Arboretum to see Boston's fall foliage in all of its glory
• Attend the Boston Book Festival from October 17th-19th
• Visit the Museum of Fine Arts for free on Wednesdays after 4 pm
• Check out the Vegetarian Food Festival on October 26th and 27th for free food samples, free speaker presentations and even free parking!
• Visit Farmers Markets in Somerville, Boston and even Waltham throughout October (and some dates in November). A great map of all locations is available on the City of Boston's website. Many of these markets will offer samples of produce, dairy products and other goods!
• Catch a film screening, talk or any of the other events the Boston Public Library hosts throughout the year at their branch in Copley

Check back in the Winter and Spring for season-specific suggestions on fun, free things to do in the city. As always, any suggestions from our readers are more than welcome.

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Don't be a statistic: How to Avoid Default on Your Student Loans

NASFAA (short for the National Association of Student Financial Aid Administrators) released a startling statistic: one in ten student loan borrowers default on their student loans within the first two years of repayment. Defaulting on a loan means you've missed enough payments that your loan provider, school (and in some cases, the government) can take action to recover the money you owe.

You may be wondering what the difference is between making a late payment and going into default. Per the Department of Education, students are in default on loans that are billed monthly after 270 days without payment. Loans that are not paid monthly (like the Perkins loan, for example) are considered in default after 330 days.

After 90 days, loan servicers will report delinquencies to all three major credit bureaus. Long time Savvy Student followers know all about the burden of having bad credit, but here's a refresher for our new readers:
1) Bad credit will impact your ability to obtain a loan for a home or a car.
2) If you are able to secure a loan with bad credit, you will either need a cosigner or be subject to high interest rates. It's very expensive to not be considered credit worthy.
3) Any entity that requires a contract for service (cell phone companies, rental agencies/landlords, even some employers) can refuse to do business with you if you have a bad credit score. Something as simple and essential as a cell phone can be difficult to obtain affordably if you have bad credit.
4) There are benefits attached to certain credit cards that are only available to those with good credit. Some cards, when used responsibly, can garner the user such benefits as airline miles, free hotels and even cash rewards. If you have a bad credit score, creditors can start to make money off of you instead of the other way around.

In a troubled economy, it's not a surprise that people are defaulting on their loans. It is, however, surprising that so many of these defaults are happening in the first two years. It seems that the problem may be a combination of factors: students are not making enough to pay their minimums, students are not updating their contact information with their loan servicers and as a result are not getting bills in the mail, and many recent graduates are overwhelmed and confused about how to repay loans and what options are available.

The contact information bit is easiest: when you graduate, set yourself calendar reminders in your cell phone or in your email client that will prompt you to go ahead and update your address and phone number(s), if necessary, with your alma mater and your loan servicers. Plenty of young people move all over the place after graduation for jobs and other reasons, and with all of the excitement of being fresh out of college, it's easy to forget about things like loan payments when you're not getting bills in the mail. To make sure you get those bills, let your technology do the work of reminding you to keep your information up to date.

If affordability is the issue, keep in mind that at least for Federal student loans (which are likely the most common), there are income based and income contingent payment plans. You can review these here, and you can usually apply for those types of payment plans online.

If understanding is the issue, remember that the internet is full of reliable information about student loans if you know where to look. Finaid.org is another great resource. Finally, if you just want to talk with a real person, look up your school's Student Loan Officer. At Brandeis, you can call or email us at Student Financial Services and we'll answer your questions.

Being responsible for your debts is something you should start very early in your adult life. These things can catch up to you later on and you'll kick yourself for not taking advantage of all of the information and help that exists with regard to loan repayment. As always, if you have any questions, submit them in the comments or via email to sfs@brandeis.edu and we'll answer them on the blog.

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