college

Student Loan Debt Clock Reaches $1 Trillion

Mark Kantrowitz / Publisher of Fastweb and FinAid — Fri, 11 May 2012 08:37:00 -0700

The student loan debt
clock reached the $1 trillion milestone at about 6:40 am ET on
Tuesday, May 8, 2012.

Although the student loan debt clock is for entertainment purposes
only, reaching this milestone demonstrates that student loan debt is a
macroeconomic factor, with the potential to affect the economy, albeit
modestly at present. Student loan debt will not derail the economy the
way mortgage debt did, because student loan debt outstanding is about
a tenth the size of the mortgage marketplace. Total annual student
loan payments are only about 0.4% of GDP. But students who borrow too
much have a tendency to delay lifecycle events, such as getting
married, having children, buying a car, buying a home, saving for
their children's college education and saving for retirement. As the
amount of debt and interest rates increase, a greater percentage of
family income must be devoted to repaying student loans instead of
other priorities.

Accordingly, there is a clear need for better tracking of total
student loan debt outstanding and better analysis of the impact. For
example, there is a lack of agreement on just how much student loan
debt is outstanding.

• The Federal Reserve's G.19 report lists $453.3 billion in
education debt as of February 2012. This figure reports just federal
loans held by the federal government. It does not include federal
loans held by private lenders nor does it include private student
loans.

• The Consumer Financial Protection Bureau (CFPB) reported on
March 21, 2012 that
total student loan debt outstanding exceeded $1 trillion
in late 2011. The CFPB figures, which are based on a survey of
education lenders, include capitalized interest, while the student
loan debt clock does not. The student loan debt clock bases total
federal student loan debt outstanding on figures from the federal
budget, which does not include capitalized interest. The student loan
debt clock bases total private student loan debt outstanding on a
repayment trajectory model, which does include capitalized
interest. Student loans are unique among forms of consumer debt in
that most students defer repaying the loans while they are still in
school. If the borrower does not pay the interest as it accrues, it is
capitalized (added to the loan balance), usually once when the loan
enters repayment.

• The Federal Reserve Bank of New York (FRBNY) estimated
in the quarterly Household Credit report
that
total education debt outstanding reached $867 billion in Q4 of
2011. The FRBNY figures are based on a statistical sample of Equifax
credit report data. Although Equifax has corrected errors in the
classification of student loan debt, there may still be issues with
the aging of the consumer panel that was used to sample the Equifax
data. Even a slight shift in the age distribution of the panel toward
older consumers may be enough to overlook about $100 billion in
recently disbursed student loan debt.

The nature of student loan debt is sufficiently different than other
forms of consumer credit that it should be tracked separately.

It is unclear how one should celebrate the $1 trillion
milestone. Somehow, greeting one another with "Happy Student Debt Day"
doesn't seem appropriate.

Perhaps this occasion should be marked by a review of several tips on
ways to minimize student loan debt.

Next Page: How to Cut Student Loan Debt Before College

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How to Cut Student Loan Debt Before College

• Compare colleges based on the net price, the difference between
total college costs and grants, scholarships and other aid that does
not need to be repaid. The net price is the amount of money the family
must pay from savings, income and loans to cover college costs. A
higher net price usually means more debt at graduation.

• Estimate debt at graduation by multiplying first year debt by
the length of the education program (e.g., 4 years for a Bachelor's
degree). Your total student loan debt at graduation should be less
than your expected annual starting salary, and ideally a lot less. If
total education debt is less than annual income, the borrower will be
able to repay the loans in about 10 years. If total debt exceeds
annual income, the borrower will struggle to repay the loans and will
need an alternate repayment plan, like extended repayment or
income-based repayment, in order to afford the monthly loan
payments. These repayment plans reduce the monthly payment by
stretching out the loan term, which means the borrower will still be
repaying his own student loans when his children enroll in college.

• Don't borrow more than $10,000 for each year in college. If you
do, you'll graduate with more debt than 90% of your peers.

• One of the best ways to save on college costs is to enroll at
an in-state public college or at a college with a generous
"no loans" financial aid policy.

• Start searching for scholarships and saving for college as soon
as possible. It is worthwhile to save even if you start late. Every
dollar you win and every dollar you save is about a dollar less you
will have to borrow. It is literally cheaper to save than to borrow.
If you save $200 a month for ten years at 6.8% interest, you'll
accumulate about $34,400. If instead of saving, you borrow this
amount, you'll pay $396 a month for 10 years at 6.8% interest.

Next Page: How to Cut Student Loan Debt During College

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How to Cut Student Loan Debt During College

• Always borrow federal first. Federal student loans are cheaper
in the long term, more available and have better repayment
terms. Federal student loans offer income-based repayment and public
service loan forgiveness, while private student loans do not.

• Beware of variable rate loans. Variable interest rates are
currently at unusually low levels and have nowhere to go but up. Add
about 4 percentage points to the interest rate on a variable rate loan
to get a ballpark estimate of the interest rate on an equivalent fixed
rate loan.

• Use tuition installment plans as an alternative to
borrowing. Tuition installment plans allow the family to spread out
college costs into equal monthly payments over the academic
year. Tuition installment plans do not charge interest, but usually
have an upfront fee of $50 to $100.

• Students can also save on the indirect costs of college, such
as textbooks and living expenses. Textbook prices can add up, so save
by buying used textbooks and selling textbooks back to the bookstore
at the end of the semester. Cut back on living expenses by minimizing
the number of trips home from school, by living at home or with a
roommate and by minimizing personal expenses. Live like a student
while you are in school so you don't have to live like a student after
you graduate. A $10 pizza a week will cost $2,000 by the time you
graduate. And if you spend student loan money to buy the pizza, it
will cost about $4,000 by the time you pay back the debt. Every dollar
in student loan money costs about two dollars by the time the debt is
paid in full. So before you spend student loan money on anything, ask
yourself if you'd still buy it at twice the price, since that's
realistically what it is going to cost you.

• Take a heavier workload, so you can graduate on time or even a
semester or two early, cutting college costs by 10% to 20%.

• Pay the interest on unsubsidized loans while you are in school
to keep the loan from growing bigger.

• Work part-time during the school year (no more than 12 hours a
week) and full-time during the summer to earn money to help pay for
college.

Additional tips for minimizing debt are available from the
Quick Reference Guide on Choosing a Student or Parent Loan.

Next Page: How to Cut Student Loan Debt After College

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How to Cut Student Loan Debt After College

• Get organized. Make a list of all your loans. Use a spreadsheet
or FinAid's Student Loan Checklist.
Put a reminder in your calendar two weeks before your first payment is
due. You must make a payment even if you don't receive a statement
from the lender.

• Sign up for auto debit, where monthly loan payments are
transferred automatically from your checking account. Many education
lenders will reduce your interest rate by 0.25% if you do this.

• Take advantage of the student loan interest deduction, which
allows you to deduct up to $2,500 in interest on federal and private
student loans on your federal income tax return. You can take the
deduction even if you don't itemize.

• If you have extra money, accelerate repayment of the loan with
the highest interest rate first. There are no prepayment penalties on
student loans, and this can save you money by reducing the interest
you pay.

• If you will be working full-time in a public service job, such
as police, fire, EMT, military, public school teacher, librarian,
city/state/federal government, public defender, prosecutor or for most
501(c)(3) tax exempt charitable organization, look into
public service loan forgiveness.

• If you run into financial difficulty, talk to the lenders
before you default. You will lose options if you default
first. Federal student loans have many options for financial relief,
such as temporary suspensions of the obligation to repay the debt
(deferments and forbearances) and flexible repayment plans (extended
repayment, graduated repayment, income-based repayment).

• Don't default. The penalties for defaulting are severe. The
government can garnish up to 15% of wages and seize federal and state
income tax refunds to repay your debt. A quarter (25%) of every
payment will be deducted for collection charges, so a loan that
normally takes 10 years to repay may take as long as 19
years. Borrowers who have defaulted on federal student loans are not
eligible for FHA and VA mortgages, can't enlist in the military and
may find it more difficult to rent an apartment or get a job. The
government can also block renewal of professional licenses. The
nightmare doesn't end when you retire - the government can offset up
to 15% of Social Security disability and retirement benefits to repay
defaulted student loans. It is also almost impossible to discharge
student loans in bankruptcy.

Additional tips on repaying student loans may be found in the
Quick Reference Guide on Repaying Student Loans.

The 411 on President Obama’s American Jobs Act

By Kathryn Knight Randolph — Thu, 12 Apr 2012 12:39:00 -0700

If you’ve been tuning into the news for the past few months, you’ll notice that the unemployment rate has been steadily decreasing several tenths of a percentage point from month to month. According to the U.S. Bureau of Labor Statistics, that number had dropped to 8.3% in February.

Good news for the economy, and good news for job seekers across the country. But there is still much to be done in the way of finding jobs for the many still unemployed Americans out there, and that’s why, last week, President Obama signed the American Jobs Act.

The American Jobs Act is largely supported by both Democrats and Republicans in Congress, and it’s purpose is simple: to “put more people back to work and put more money in the pockets of working Americans – without adding a dime to the deficit,” according to the American Jobs Act website.

The American Jobs Act will do this in a variety of ways:

Small Businesses

Small businesses will receive further tax cuts, including cutting the payroll tax in half for the first $5 million in wages and temporarily eliminating payroll taxes on wages for new workers or raises for existing workers.

They will also receive help through administrative, regulatory and legislative measures to access capital and grow.

Rebuilding and Modernizing America

No doubt this measure encompasses many things, including tax credits and career readiness efforts to support veterans’ hiring, preventing teacher, cop and firefighter layoffs, and modernizing over 35,000 schools.

Putting Workers Back in the Workforce

While reform of unemployment insurance is the overarching goal here, this measure also provides tax credits to employers for hiring long-term unemployed individuals, investing in low-income youth and adults and prohibiting employers from discriminating against those who have been unemployed.

To learn more about President Obama’s American Jobs Act and how it could impact you, click here.

10 Career Options with Equal Pay for Women

By Kathryn Knight Randolph — Wed, 21 Mar 2012 09:52:00 -0700

According to the U.S. Bureau of Labor Statistics, women make an average of 81 cents to every dollar that a man makes. While women have been making less than men since they entered the workforce en masse in the 70s and 80s, the gender gap in pay has been steadily decreasing.

But some career options have closed that gap to as much as a 1 – 5% pay difference between men and women, according to PayScale data reported on by the New York Times, and in one career field, women’s pay has even surpassed that of men. So if you’re looking to declare a college major or change careers for equal pay, try one of these.

Electrical Engineering

Female: $72,000

Male: $72,700

Civil Engineering

Female: $56,900

Male: $57,700

Economics

Female: $53,100

Male: $53,900

Information Technology

Female: $55,400

Male: $54,900

Communications

Female: $43,900

Male: $44,300

English

Female: $42,000

Male: $42,600

Sociology
Female: $39,500

Male: $39,800

Graphic Design

Female: $38,900

Male: $39,400

History

Female: $41,000

Male: $41,800

Psychology

Female: $38,000

Male: $38,600

Get a Summer Job from President Obama, Bon Jovi

By Kathryn Knight Randolph — Wed, 14 Mar 2012 14:52:00 -0700

Have you spent the last few weeks frantically searching for a summer job only to find job openings at your local public pool or shaved ice stand? The problem is a common one for students, especially in this economy, when students are battling experienced adults for temporary or part-time job opportunities.

President Obama’s Administration has grown increasingly concerned over this trend, and that’s why they’ve started the Summer Jobs+ program. The Summer Jobs+ program is an online resource for young people to connect with businesses and find summer jobs, internships, mentorship or training opportunities.

In a statement on the site, the President said, "America's young people face record unemployment, and we need to do everything we can to make sure they've got the opportunity to earn the skills and a work ethic that come with a job…That's why today, we're launching Summer Jobs+, a joint initiative that challenges business leaders and communities to join my Administration in providing hundreds of thousands of summer jobs for America's youth.”

Since the site’s launch, organizations like Gap, Inc., Southwire and Boys and Girls Club of Green Bay have signed up for the program to provide summer employment opportunities exclusively for students, according to The White House Blog. And now, even bigger names are teaming up to help young people find work this summer.

Aneesh Chopra, former CTO of the White House, musician Jon Bon Jovi, Steve Martocci, co-founder of GroupMe, and Kevin Haggard, Vice President of Quality Engineering at Gilt Groupe, have teamed up and created SummerQAmp, a component of the Summer Jobs+ program that will help train students on high-tech skills necessary to compete in today’s growing tech industry.

According to their website, SummerQAmp will “introduce Quality Assurance (QA) as a potential career path to American youth (ages 18-24) who are unaware of the opportunity by allowing them to gain valuable work experience as summer interns at software companies.” TechCrunch reports that SummerQAmp hopes to create at least 1,000 QA internships for students this summer.

Though Summer Jobs+ isn’t fully up and running just yet, students can sign up for updates as to when the site will begin posting summer job opportunities. Good luck with your summer job search!

How to Keep Your New Year’s Resolution

By Kathryn Knight Randolph — Wed, 28 Dec 2011 14:18:00 -0800

In 2007, Richard Wiseman, a psychologist at the University of Hertfordshire, conducted a study to test the commitment to New Year’s resolutions. His study found that roughly 78% of all people who make New Year’s resolutions fail to keep them.

So how can you make 2012 different from the past few years? How can you keep your New Year’s resolutions for the entire year rather than just a few months, weeks or even days?
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Go Public

The 2007 survey revealed that those who were successful in keeping their New Year’s resolutions found encouragement by going public with their goals. Fortunately, you have a plethora of platforms on which to be vocal about your resolutions.

Facebook, Tweet or blog about your resolutions as well as each time you hit a milestone or are feeling overwhelmed by what you have to accomplish. The positive reinforcement from friends and family will help to push you in keeping your commitment.

If you don’t want to tell the whole world, just tell a friend. Who knows? Maybe you’ll even find someone in your circle of friends who has the same resolution. You can work to keep each other accountable as the year goes on.

Keep a Journal

Buy a journal that is exclusively for keeping track of your New Year’s resolutions. Here, you can jot down how many days each week that you work out, which books you want to read before the end of the year or the location and details of all of your volunteer gigs.

Besides cataloguing the basics in your journal, write out your honest thoughts and feelings on how your resolutions are going. You’ll find that when you look back at those journal entries, you’ll be able to see how far you’ve come or boost your motivation when you see how excited you were to conquer your resolutions in the first few weeks.

Set Small Goals

Your New Year’s resolution may be losing weight or getting better grades, and while those are awesome goals, people sometimes find it more difficult to commit to something so general.

Set smaller goals within your large, reaching goal. For instance, aim for losing a pound a week. Or try to score better on each test or essay than you did the last week.

You’ll find more success and greater motivation when you accomplish these small goals versus having to wait until the end of the year to measure your success.

How do you plan to keep your New Year’s resolutions this year?

The Budget-Friendly Gift Guide

By Kathryn Knight Randolph — Fri, 16 Dec 2011 12:18:00 -0800

The holiday season is one of the most expensive times of the year. So how do you buy meaningful gifts on a budget?

At MonsterCollege, we’ve scoured the web for gifts for each of your friends and co-workers, based on their personalities. As you shop, remember that most sites are recommending that you order your gifts by December 21 to get them in time for the holiday season.

Let the gifting begin!

Gifts for the Overachiever >>

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For the Overachiever

Everyone has that friend, and now you can find the perfect gift for them. Just don’t take up too much of their time actually giving it – they have another appointment to get to!

Under $20

Help them stay organized next year with a chic, comprehensive planner from Jonathan Adler and Paper Source.

Under $10

While it’s important for your friend to make every meeting, it’s equally important for them to take time to chill. Help them out with a Zen Garden.

Under $5

Help them stay organized but effectively showcase their retro style as well with these bicycle clips from Paper Source.

Gifts for the Athlete >>

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For the Athlete

Though your friends work hard all year to stay in shape, their equipment sometimes works harder. Replenish their athletic accessories with these gift ideas.

Under $20

Has your friend been indulging in Bikram Yoga all year long? A hot gift might be a new yoga mat.

Under $10

Replenish their workout with a durable water bottle, and they’ll thank you every time they take a refreshing sip.

Under $5

Every golfer is notorious for losing golf balls – it’s just part of the game. Give them the gift of a chance at a better game with these practice golf balls.

Gifts for the Music Lover >>

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For the Music Lover

A gift for your music loving friend would be sweet music to his or her ears. Plus, our gifts for music lovers would keep giving throughout the year.

Under $20

Help them stay on top of new music with a year’s subscription to Entertainment Weekly through Amazon.

Under $10

Critics have been raving about Florence + the Machine’s new album. If your friend doesn’t have it yet, they should. Send them an Amazon download of the album.

Under $5

Help them strum their favorite tune with a pack of 10 guitar picks from Amazon.

Gifts for the Drama Queen >>

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For the Drama Queen

Is your friend a little high maintenance and would never forgive your neglecting her in your gift giving? You’ve got it covered. After all, your life would be boring without her so why not thank her with gifts full of drama.

Under $20

This summer’s blockbuster, The Help, would provide a perfect way for your friend to unwind after a long day of being fabulous.

Under $10

The Hunger Games provides a drama that is all its own. Give her this page turner, and it will easily be her favorite present of the year.

Under $5

Your friend doesn’t need any help looking beautiful, but you know how much she adores beauty products. Help her shine with Sephora Lip Gloss.

Gifts for the Foodie >>

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For the Foodie

Have that friend that is addicted to Top Chef and finding the next best restaurant in town? Give your foodie friend a delectable gift that is too delicious to pass up.

Under $20

Turn your friend from a sushi connoisseur to a sushi chef with this sushi maker kit from Amazon.

Under $15

Anyone can eat like a rock star but it takes a lot more skill to cook like one. Now, your friend can with this cookbook from Amazon.

Under $5

If your foodie friend is more into baking, consider giving a gift that will be the icing on top of a wonderful holiday season.

Gifts for the Artist >>

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For the Artist

An artist is only as good as the materials he or she uses. Help your friend create beautiful pieces of art with your holiday gift this year.

Under $20

While your friend may take his or her work seriously, it’s fun to make a game of it too. Play along with your friend in this art-driven game from Paper Source.

Under $10

These temporary tattoo animals may appeal more to the child at heart, but it will be a big hit with your friend, especially if they’re willing to deck you out too.

Under $5

Inspire them to learn a new artistic trade with this gorgeous calligraphy pen.

For the Girl Who Has It All >>

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For the Girl Who Has It All

Everyone has that friend who has it all, which makes it all the more difficult to find that perfect gift. Fortunately, we’ve got a line-up gifts that your friend probably hasn’t even thought to get herself…yet.

Under $20

A lunchbox for a gift may seem juvenile at first, but when it’s time for your friend to “brown bag” it during the work week, they’ll be so thankful for this chic alternative.

Under $10

With a photo keychain (that displays up to 60 photos!), your friend can carry her favorite memories with her at all times.

Under $5

Although gift baskets with bubble bath, salts and soap are a bit overdone, your friend who has it all could never have enough.

For the Guy Who Has It All >>

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For the Guy Who Has It All

The guy who has everything may not have even thought of these off-the-wall gifts. Make him laugh or wow him this holiday season.

Under $20

If you’re worried about taking a gamble on his holiday gift, this automatic card shuffler from Amazon is your best bet.

Under $10

Mustaches are all the rage right now so why not celebrate them by giving your friend this mustache mug.

Under $5

Give your friend a laugh this holiday season with these dill pickle flavored mints from Amazon.

Have any other great low-budget gift ideas? Share with us!

Top 10 Internships of 2011

By Kathryn Knight Randolph — Thu, 10 Nov 2011 09:37:00 -0800

With the year coming to a close, we wanted to highlight the top ten internships for this year, according to Vault.com. The top 10 are always hard to usurp and are typically featured on this list annually. That’s why you’re guaranteed a great internship at one of the following institutions in 2012 as well.

These internships are oftentimes the most competitive and require a lot of hard work and dedication once you land the job. But the benefits of these experiences are totally worth it.

The editors at Vault base their rankings on a variety of factors: mentorship availability, career advancement opportunities, intern involvement/capacity for learning, compensation, perks, industry clout and work culture.

Top 10 Internships of 2011

Boston Consulting Group

Capital Fellows Programs

Deloitte LLP

Garmin International

Google, Inc.

J.P. Morgan’s Investment Bank

NASA

Nickelodeon Animation Studios

Northwestern Mutual Financial Network

Smithsonian Institution

Vault.com has also created lists for top 10 finance, creative/liberal arts, non-profit, best perks and most unusual internship experiences. Check out their site for these lists and further details on each opportunity.

Work It: Finding and Holding Down a Job in College without Losing Your Cool

By Kyiara Griffin — Tue, 08 Nov 2011 08:45:00 -0800

Although my work experience is limited, the experiences have stretched from assisting in the instruction of little ballerinas to setting up house showings for real estate agents. There is one thing I have learned: all jobs are going to provide some work-related stress, but some jobs are more manageable than others.
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As a college student, that knowledge works to my advantage: I job hunt with a constantly growing awareness of what sort of work suits me. In turn, my stress level is reduced (or, at the very least, not raised) because I can focus my attention on school. Whether job-hunting or taking notes for future job hunts, you can have the same freedom in college with a few tips.

Be Open-minded

In the article about getting involved on campus, we looked at the importance of trying new things in college. The same rules apply to a job: if the opportunity does not conflict significantly with any personal beliefs, then the job should, at the very least, be worth researching.

Also, develop an awareness of the job market. Part-time and temporary job openings increase before major holidays, when school starts (as some student workers go away for college or are unable to work during high school hours), and before individual business busy seasons (e.g., take-out restaurants see sales increases during cold months), so ask about employment opportunities during those times. Companies that offer permanent full-time positions usually have hiring seasons and display a greater willingness to take on less-experienced college students in internships or temporary positions, so apply when your application will be viewed.

Be Honest with Yourself

While it is good to have a job in college, it is far better to have a job that suits you. As I learned during a very brief stint at a pizza place, it would be wise to consider how familiar you are with the area before accepting a job that requires delivering pizzas. Likewise, if you do not keep up with social media websites, then taking on a job as an event promoter would require a steep learning curve.

This does not mean that new jobs should not be attempted. Rather, be aware of your strengths and weaknesses. As a potential employee, it is advantageous to work towards your strengths over your weaknesses. Choose a job that reduces unnecessary stress.

Be Practical

You are a college student, not a magician. Not every student has their entire college tuition in savings, and not every student’s parents can afford to help with tuition and other expenses. If the need for a job is more critical than the need for the college courses, then allow yourself to take on a more rigid job schedule over a full-time course load. The ability to pay for college is an important detail to consider before starting school.

Instead of the typical 12 to 18 hour course load in the morning and afternoon, consider flexible courses. To assist working students, many colleges offer online courses and, in special circumstances, distance learning courses. If being in a classroom is important, then consider taking evening classes: evening courses typically meet a little longer than the daytime and afternoon courses, but later in the day and less often.

On each of the campuses that I have attended, evening classes have been available to upperclassmen and full-time workers. I currently attend a class that meets late in the evening once a week, because the class time opens up my availability to a consistent job schedule. Likewise, if your work schedule fills up your weekday mornings and afternoons, then a night class may be a viable option.

On the other hand, if the top priority is finishing the chosen degree plan, then choose a job with more flexible hours. Be firm, but respectful. Be honest with your employer about unavailable days and times, and, when your classes have sudden changes, ask for any necessary schedule adjustments as soon as possible.

Be (A Little) Selfish

Working while going to school is not uncommon, but neither is it easy. Between performance reviews and exams, the stress can easily pile up. When you have a day off, use some of that time on yourself. Catch up on sleep, go window-shopping, eat at an establishment that does the dishes for you, or take a walk. Do something that takes your mind off work and school. When the next workday or school day comes, you will be able to focus on what is important.

In life, work is rarely as fun as college, but work does not have to be overly stressful, either. By setting boundaries between school, work, and downtime for others and yourself, you show respect to those you work with and yourself by planning for what can be accomplished and what cannot in a given time. Planning your job is not only responsible, but smart, and it is a skill that can transfer anywhere.

Trick or Treat: President Obama's Plan for Cutting Federal Student Loan Payments

By Mark Kantrowitz, Publisher of Fastweb and FinAid — Thu, 27 Oct 2011 08:20:00 -0700

Income-based Repayment

Who: 1.6 million borrowers since 2008 with at least one loan in 2012 or later, generally borrowers whose total federal student loans exceeds their annual income

What: Reduces cap on monthly loan payments by a third, from 15% of discretionary income to 10%, and forgives the remaining debt in 20 years instead of 25

When: Starts in 2012 instead of waiting until 2014

Who Doesn't Benefit: 36 million borrowers already in repayment, such as recent and older college graduates

Consolidation of Split Borrowers

Who: 5.8 million "split" borrowers who have loans in both the federally-guaranteed and direct student loan programs

What: Provides an interest rate reduction for split borrowers who transfer their federally-guaranteed student loans into the Direct Loan program by consolidating them

How: 0.25% interest rate reduction on the transferred federally-guaranteed student loans, plus a 0.25% interest rate reduction on all federal loans in the direct loan program for repaying the loans through auto-debit

When: Borrowers will be contacted by their services in early 2012 and must consolidate by June 30, 2012

Who Doesn't Benefit: Borrowers who are already in the Direct Loan program, non-split borrowers who have only federally-guaranteed loans and borrowers who are in default on their federal student loans

Caveat: Borrowers who intend to accelerate repayment of their highest interest rate federal student loans might be better off keeping the loans separate instead of consolidating

Occupy Wall Street – Coming to a City Near You?

By Kathryn Knight Randolph — Thu, 13 Oct 2011 13:47:00 -0700

Occupy Wall Street is currently in its fourth week of sit-in protests. Since the inaugural protests on September 17 in New York City, Occupy Wall Street has spread to at least 1,470 cities worldwide, according to occupytogether.org. At the Occupy sites, protestors are camping out and literally occupying that physical zone 24 hours a day, seven days a week.

Occupy Wall Street activists are working against the “greed and corruption” of the wealthiest 1% of the country and asking for more economic equality for the 99% of the population that is working through student debt, credit card debt and mortgage problems, according to occupywallst.org.
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And while the movement initially received criticism for being unorganized and lacking in any real demands, it has now caught the attention of all national and worldwide media outlets, lawmakers and President Obama. In fact, Representative Keith Ellison, who has been serving as a House representative from Minnesota since 2007, noted that as the movement has grown momentum in recent weeks, their demands are being realized loud and clear.

Ellison wrote in an article for The Huffington Post, “The Occupy movement is attracting ordinary Americans through concrete action that conveys a clear message. The message is that working Americans want Wall Street to be accountable. The message is that working Americans want a fair tax system. Americans want the Congress to pass legislation that produces jobs.”

Though Occupy Wall Street began as a peaceful protest, violence has increased recently. There have been instances of alleged police brutality, especially in New York; however, whether or not this brutality was provoked on the part of the protestors is unclear. Additionally, arrests have been made in New York as well as several other cities, like Boston, Des Moines and Portland.

Now, protestors in New York City’s Zuccotti Park, the central hub for Occupy Wall Street, are being told by Mayor Bloomberg that they must temporarily vacate the premises for cleaning purposes by Friday, October 14 at 7 a.m., according to occupywallstreet.org. Though protestors think this as an effort on Mayor Bloomberg’s part to break up the occupation, Bloomberg insists that this is at the request of the park’s owners, Brookfield Properties, according to New York Daily News.

In a letter to the city of New York, as reported by the New York Daily News, Brookfield Properties has openly complained of the Wall Street occupation, stating “that the protesters are breaking numerous laws, including "lewdness, groping, drinking and drug use" and creating "offensive odors.""

In an interview with the New York Daily News, Deputy Mayor, Cas Halloway, said, “The last three weeks have created unsanitary conditions and considerable wear and tear on the park…The cleaning will be done in stages, and the protesters will be able to return to the areas that have been cleaned.”

As protestors in New York return to Zoccatti Park in the next few days, it can only be assumed that even more Occupy Wall Street sites will crop up both nationally and worldwide.

Do you plan on participating in any Occupy Wall Street protests? Share with us why or why not!

7 Mistakes First Time Job Seekers Make: And How to Avoid Them

By Kizzy Preston — Mon, 19 Sep 2011 15:26:00 -0700

The day you graduate from college may be one of the happiest days of your life. The sense of accomplishment, the acknowledgement of a job well done, the pat on the back from your family and peers elates you. The future looks so bright, until you begin to search for a new job and are met with rejection after rejection. Then you begin to wonder if all of your years of hard work pursuing a college degree were worth it, if you can not find a job.

Some first time job seekers may be making mistakes that they are not even aware of. If you have found yourself committing any of the below offenses, stop, and change course immediately.
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1. Unprofessional initial contact -- You always want to make a great first impression. Whether you are responding to a job posting via telephone, email, fax, or postal mail, you want that first contact to be professional.
By email, fax, or mail, address the hiring manager by name, and proofread to make sure you didn't make any careless mistakes in spelling or punctuation. Always include a well thought out cover letter with your resume that is designed for the specific job you are seeking. For more information on creating cover letters look here. (http://career-advice.monster.com/resumes-cover-letters/cover-letter-samples/jobs.aspx)

By telephone be sure there is no noise in your background. Turn off the television and radio before placing a phone call or returning one. Be sure to speak in a professional manner using please, and thank you.

2. Missing the interview without calling to cancel -- This one may seem like common sense, but more people do this than you know. If you can not make a previously scheduled interview, even if it is because you have already found a new job, let the company know. You never know when you may need to apply to that company in the future, and you do not want to have burned a bridge.

3. Dressing unprofessionally -- For an interview you want to look your best. Your hair should be neat, not overly styled. You should wear professional clothing, preferably a suit. Here are some tips on professional interview attire.

4. Bringing friends or family to an interview -- You may be thinking, who would do that? Lots of first time job seekers do it. They bring their mother/father, or boyfriend/girlfriend, or best-friend with them to the job interview for moral support. This is not the doctor’s office, or even the admission’s office at school. Bringing people with you to your job interview looks really bad to your potential employer. If you are incapable of completing an interview without someone holding your hand, how can you go to a job each day on your own and perform well?

5. Being unprepared -- When you go in for an interview it is important that you bring a current copy of your resume with you, and at least 3 references. Even if you previously emailed a resume to the company, it is best to be prepared to submit it again.

Also, you want to research the company so that you are informed. When the interviewer asks, "Do you have any questions for me?" which they surely will, have a few prepared. Do not ask about the pay rate in the initial interview. Instead ask thoughtful questions about the company itself or the particular job you will be doing.

6. No thank you -- When your interview is complete, thank the interviewer for his or her time. You also want to send a thank you note either by postal mail or email.

7. Using social media in a negative way -- Many potential employers search the names of their potential employees online. What will come up if your name is searched? If it is anything negative, or inappropriate, you may just kiss the position you applied for goodbye. Take caution when online, including comments you leave on other people's social media pages. While you may have set your Facebook or Twitter accounts to private, the page you are commenting on may not be private. These comments do show up when your name is searched using a search engine.

If you avoid making these mistakes, you will be well on your way to landing that first job.

Recent College Grad? 10 Best Cities to Start Your Career

By Kathryn Knight Randolph — Wed, 14 Sep 2011 14:35:00 -0700

In January of this year, the International Business Times reported that the average job search was taking roughly eight months. For those of you that graduated in May, it could mean that you don’t necessarily land your first “official” job until January.

But if you want to speed up the job search, you may want to look in one of the top 10 best cities for recent college graduates. These cities were determined by Apartments.com and CareerRookie.com “based on the ranking of the U.S. cities with the highest concentration of people ages 20-24, an inventory of jobs requiring less than one year of experience, and the average cost of rent for a one-bedroom apartment,” according to msnbc.com.

So brush up your resume, fill up the tank and pack a suitcase or two. You’ve got some interviews on the road coming up!

10. St. Louis

Unemployment rate: 8.8% -- slightly lower than national average of 9.1%

Average entry-level salary: $40,000

Rent: Average 1-bedroom costs $535

Major employers: BJC HealthCare, Wells Fargo Advisors, Edward Jones and Express Scripts, Inc, all of which are headquartered in St. Louis

9. Atlanta

Unemployment rate: 10.3%

Average entry-level salary: $43,000

Rent: Average 1-bedroom costs $780

Major employers: The Coca-Cola Company, Turner Broadcasting Systems, Delta Air Lines, Home Depot and IBM.
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8. Philadelphia

Unemployment rate: 8.9% --slightly lower than national average of 9.1%

Average entry-level salary: $37,000

Rent: Average 1-bedroom costs $1,200

Major employers: Comcast, Aramark, Vanguard Group, Children’s Hospital of Philadelphia and Bank of America.

7. Washington D.C.

Unemployment rate: 10.8%

Average entry-level salary: $57,000

Rent: Average 1-bedroom costs $1,100

Major employers: Federal government, George Washington University, National Oceanic and Atmospheric and Washington Post Co.
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6. San Francisco

Unemployment rate: 10.1%

Average entry-level salary: $57,000

Rent: Average 1-bedroom costs $1,600

Major employers: Wells Fargo, Gap Inc, California Pacific Medical Center, Charles Schwab and Macy’s West.

5. Minneapolis

Unemployment rate: 7.5%

Average entry-level salary: $43,000

Rent: Average one-bedroom costs $800

Major employers: Target, 3M Co, Ameriprise Financial, General Mills Inc and Best Buy Co.
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4. Denver

Unemployment rate: 8.6%

Average entry-level salary: $48,000

Rent: Average one-bedroom costs $780

Major employers: Ball, Coors, United Airlines, University of Colorado Hospital and U.S. Bank.

3. Boston

Unemployment rate: 7.1% -- the lowest of the top 10

Average entry-level salary: $52,000

Rent: Average one-bedroom costs $1,700

Major employers: Massachusetts General Hospital, Fidelity Investments, Gillette Company, Boston Globe and Blue Cross/Blue Shield.
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2. Cleveland

Unemployment rate: 8.2%

Average entry-level salary: $43,000

Rent: Average one-bedroom costs $630

Major employers: Cleveland Clinic, Progressive Corp, KeyCorp, Ford and Sherwin-Williams

1. Hartford – New Haven

Unemployment rate: 9.7%

Average entry-level salary: $50,000

Rent: Average one-bedroom costs $900

Major employers: United Technologies Corp, Hartford HealthCare, Aetna, Bank of American and ESPN.

Chicago University Offers Discounted Masters Classes on Groupon

By Kathryn Knight Randolph — Thu, 08 Sep 2011 11:36:00 -0700

It’s the Groupon deal that has everyone buzzing. On Wednesday, Chicago area shoppers were presented with a deal that was drastically different from the typical 50% off coupons for teeth whitening or sushi dinners. Instead, Groupon buyers had the opportunity to purchase a master’s level education course for 57% off the actual price.

The course, Introduction to the Profession and the Craft of Teaching at National Louis University, is a 10-week class that covers trends and debate in the teaching profession, external influences such as politics and socioeconomics on American education, how the K – 12 sector works as well as personal development and approaches to teaching.
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National Louis University is located in downtown Chicago and has been providing teaching degrees for 125 years. According to Groupon, “the university ranks first in Illinois for the number of graduate degrees conferred…with alumni earning more Golden Apple awards than any other school of education. It is also credited as the founder of the modern American kindergarten movement and the Parent Teacher Association (PTA).”

With the Groupon, new students to National Louis University, who already hold a Bachelor’s degree from any institution, will only have to pay $950 for the course rather than the $2,232 sticker price. At the end of the course, students will have received three credits toward a Master’s degree in teaching.

In a statement, National Louis University president, Nivine Megahead said, “we realize in order to thrive in the competitive environment of higher education, we need to be where our students are, speak to them in a way they are used to speaking, and many of our potential students receive daily emails from Groupon.”

Administrators at National Louis University also think this is a great way for potential students to explore teaching to see if it’s the right career fit for them. In an interview with the San Francisco Chronicle, National Louis University’s vice president stated, “There are all kinds of factors in the K-12 world that are really discouraging teachers and people seeking teaching degrees. We'd like potential students to understand what the realities are, whether you are committed to this profession, and see if you have what it takes.”

As of now, only five Groupons for the course had been purchased and the deal officially “tips” once 15 are bought (in Groupon-speak, that means the deal is only activated after 15 people have purchased the Groupon). Interested students have two days left to purchase the Groupon.

Of course, this new Groupon is causing everyone to wonder if this will be a trend that catches on. Will colleges and universities begin offering discounted courses through coupon services like Groupon and Living Social? And if they do, will students even buy them?

Don’t Be Such a Millennial

By Kathryn Knight Randolph — Fri, 26 Aug 2011 09:32:00 -0700

Earlier this month, CNN contributor and national columnist Ruben Navarrette, Jr. wrote an opinion piece on millennials in the job market, saying, “millennials are tech-savvy, highly educated and have incredibly high self-esteem even if they haven't done much to deserve it.” And he’s not alone.

Needless to say, Navarette’s assessment was a bit controversial to both millennials and non-millennials. But is he correct in some respects?

Millennials, falling between ages 18 and 30, bring a great deal to the workplace. They know their away around every social media outlet. They inspire a creativity that surpasses “thinking outside of the box” because using such a clichéd term to define it is insufficient. And they are self-starters – just look at Zuckerberg and the many other millenials like him in the Silicon Valley.

But like Zuckerberg, some millennials can come off seeming a little entitled. Whether you’re a millennial or not, or an entitled millennial or not, we’ve got some sage advice for not acting like Navarette’s “high self-esteem” millennial in the job market and in the workplace.

The perfect job. Naverrette points out that the unemployment rate for millennials is currently at 14%, compared to the national rate of 9.2%. There are a variety of reasons for this. First, millennials are competing against men and women who have been laid off and are therefore more experienced.

Second, because of the recession, many companies have downsized. In addition to laying off some of the more experienced employees, corporations are limiting hiring for the time being.

Third, millennials are holding out for the perfect job. They want the job they dreamed of in college – in the big city, with the perfect pay and plenty of paid days off. And while the perfect job is out there, it might not be the perfect time to go after it.

We’re living in one of those times where “beggars can’t be choosers.” If you don’t want to live in Mom and Dad’s basement for the next year, you may have to suck it up and take a job that isn’t glamorous for now. Even if you’re just waitressing or serving as a barista at your local coffee shop until that perfect job comes along, you at least have your foot outside of the basement door.

The entitlement. Naverrette states that, “…when they [millennials] do land their dream job, they have some pretty tough requirements in terms of what they want from the experience, such as career advancement. With millennials, you didn't do them any favors by offering them a job; they think they did you a favor by taking it.”

In my few years in the workforce, I have heard plenty of younger co-millennials declare, “If I don’t get my three-month raise, I’m quitting.” Yes, some crazy companies out there just give raises based on three or six-month terms of employment. But at this time, consider yourself lucky if you even get an annual raise – or keep your job, for that matter.

The reality is that most companies don’t give raises just because you’ve worked there for three, six or twelve months. You have to actually work for that raise or bonus, i.e. your performance determines your pay increases.

In the workplace, you should have no sense of entitlement. Employees that garner attention from their bosses and qualify for performance-based raises keep their heads down, work hard and make it clear that they care about doing well by asking their boss questions like:

• How am I doing

• What can I be doing better?

• How can someone in my position work to advance here?

The attitude. In addition to hearing my co-millennials complain about raises, I’ve heard some say, “I’m not doing that task. It’s not part of my job description.” And it seems Navarrette has heard the same: “There was the chef who reported that young workers in his kitchen give him strange looks when he asks them "to do something like wash both the inside and outside of a pot or pan or to merely complete a job the best they can.” They're more apt to say: “That's not my job!””

No matter where you work, you’re on a team. Remember all of the clichéd sayings your high school sports team emblazoned on t-shirts? There’s no “I” in TEAM. “Team” means Together Everyone Achieves More! Well, the same applies to the workplace.

There will be times when you have to do a co-worker's task or job. Whether it’s because they’re a slacker or don’t have time, it doesn’t matter. You have to help the rest of your team pick up the pieces.

Like your high school sports team, there are star players and then there are those that ride the bench. Be the star player that humbles themselves by working hard, maintaining a good attitude and doing everything you can to ensure that you’re an easy person to work with. At the end of the day and at the culmination of your work experience at that company, you want your co-workers to have the best things to say about you. After all, they’ll be providing the references for your next job.

While many of Navarrette’s conclusions about millennials, in a broad sense, were wrong, some were right. It’s up to millennials to take that term back in the job market and workplace. The term, “millennials,” can evolve to mean something entirely different: hard workers, creative thinkers and workplace revolutionaries.

How the Nation's Debt Crisis Could Affect You

By Lauren Bayne Anderson — Fri, 29 Jul 2011 12:57:00 -0700

It’s hard to miss the debates over the federal budget crisis.

If the government doesn’t raise the debt ceiling by fast approaching August 2, 2011 the country will default on its loans. But what does that mean for you, the average fresh-out-of-college, American worker?

It could mean everything from a freeze on student loans to higher credit card payments.

If the crisis isn’t worked out, the nation’s credit rating will be downgraded from its AAA rating, and that could mean higher interest for you on everything from credit card payments to home and car loans.

Some experts are predicting an immediate increase of at least 1.5 percentage points on consumer interest, which could add thousands to your debt over the course of the years.

And if you’re still in school or considering going back, and are relying on federal loans to make your tuition payments, the crisis could cause trouble.

If the budget crisis isn’t solved by the deadline, federal student loans would be frozen and an estimated $8.8 billion in Pell Grants would not be paid to students and colleges this August and September.

Additionally, the rates for student loans could rise and there could be further cuts to education.

Even scarier, colleges across the country could be forced to temporarily close and some to lay off faculty.

Mark Kantrowitz, Publisher of Fastweb, said “It would be nothing short of a national disaster,” in a recent CBS MoneyWatch article.

The good news…if any? Interest rates on credit cards and other consumer borrowing can only be raised on new balances—not on anything you’ve already spent. Lenders are also required to give borrowers 45 days notice.

And, experts are still unsure of the fine points, since this looming crisis is a first for the country. Some say credit cards will be affected, others say they won’t.

However, experts agree that if the crisis isn’t solved pre-deadline, there will be consequences for the country—and those consequences will be felt in one way or another by the average everyday American like you.

What can you do?

Contact your representatives and urge them to act immediately to solve this budget crisis. To find contact information for your U.S. Representative visit https://writerep.house.gov/writerep/welcome.shtml and for your Senator www.senate.gov/general/contact_information/senators .

Information compiled from the St. Petersburg Times, CBS Moneywatch and UPI.

Could a New "Social Media Background Check" Cost You the Job?

By Lauren Bayne Anderson — Wed, 27 Jul 2011 11:39:00 -0700

It’s the not so “new” thing. Potential employers (or current ones) looking at your Facebook page to glean information about your personal life—and make a decision on whether or not to hire (or fire) you!

Actually, companies have been doing it for a while now. Joe Bontke, outreach manager for the Equal Employment Opportunity Commission’s (EEOC) office in Houston, said 75 percent of recruiters are required to do online research of candidates and 70 percent have rejected candidates because of what they found, in a recent New York Times article.

But a few things have changed. And if you’re a job candidate, not necessarily for the better.

Some companies are now requiring potential employees to pass a “social media background check” before offering them a job. In fact, that’s all one company, Social Intelligence, does.

Social Intelligence will check a candidate’s Facebook page, Google, LinkedIn—in fact, they scour the Internet to dig up anything they can on job seekers within the past seven years—much like a financial credit check.

While the company’s report offers up accolades you’ve received and professional honors, etc., it will also show potential employers any questionable activity you’ve participated in online.

A recent New York Times article gave some examples of exactly what Social Intelligence has found that lead to job offers not being extended. “…one prospective employee was found using Craigslist to look for OxyContin. A woman posing naked in photos she put up on an image-sharing site didn’t get the job offer she was seeking at a hospital” the article said.

The New York Times article continued, “Other background reports have turned up examples of people making anti-Semitic comments and racist remarks…Then there was the job applicant who belonged to a Facebook group, “This Is America. I Shouldn’t Have to Press 1 for English.”

That last example, while not overtly racist, could raise concerns with potential employers that the candidate doesn’t like immigrants and may have some underlying racial issues. Even gray areas like this could potentially cost a job seeker the job.

Interestingly enough, the company told the New York Times that less than a third of the damaging information they find on candidates comes from social media platforms like Facebook. Instead, much comes from “deep Web searches that find comments on blogs and posts on smaller social sites, like Tumblr, the blogging site, as well as Yahoo user groups, e-commerce sites, bulletin boards and even Craigslist”, the New York Times article reported.

People may not even realize that comment they made on a list serve are public and can be found in a search.
The good news is, the company requires the candidate to consent to the background check before it’s started—which could give you a heads up on removing anything you don’t want potential employers to see from your Facebook, Twitter or MySpace pages. But things like Craigslist posts, and anything that shows up when someone searches for you on Google could be tougher to take care of.

And while the Federal Trade Commission (FTC) has declared the company is in compliance with the Fair Credit Reporting Act and doesn’t violate privacy laws, the Social Intelligence goes one step further, claiming it actually HELPS potential employees by assuring the inquiring company doesn’t confuse the applicant with someone else they find online.

But while the FTC may not have a problem with what Social Intelligence is doing, the EEOC isn’t so sure. In the same New York Times article Bontke said that employers must be careful in what they find online. He said employers risks of violating federal antidiscrimination employment rules if they base hiring decisions on information found online that answers questions they are not legally allowed to ask in interviews.

“Things that you can’t ask in an interview are the same things you can’t research,” he said in the New York Times article, including information on a person’s age, gender, religion, disability, national origin and race.

However Social Intelligence says it doesn’t present any of that type of information to employers.

RELATED READING: How to Clean Up Your Online Image

Information compiled from The New York Times and CTI Career Search .

Take Control of Your Online Image: How to Wipe it Clean

By Lauren Bayne Anderson — Wed, 27 Jul 2011 11:14:00 -0700

The Internet is a dangerous place for employees and potential employees. That’s because employers are using information they find about you online to make hiring and firing decisions.

A recent article in the New York Times said 75 percent of recruiters are required to do online research of candidates and 70 percent have rejected candidates because of what they found.

And ironically, the same article noted that less than a third of the information one company finds that gets job candidates in trouble comes from Facebook, Twitter and MySpace. The rest comes from pictures, videos, listserve emails, and other things that can easily be found by a search engine.

So how do you go about cleaning up your online image? There are several ways, and several different courses of action depending on what’s out there on you. We detail it all, including how to make sure your Google search comes up clean.

Our Tips to Make Your Online Image Squeaky Clean

Do Your Own Google Search: Start by Googling your name. You may be shocked to see what comes up. Make a list of questionable photos, comments, emails and personal information that comes up, along with where you found it for future reference. And then once you've surveyed it all, take action on each one.

Clean Up Your Social Media Pages : This is a great place to start because you control so much of what’s here for people to see. Here’s how to clean things up:

Change Your Privacy Settings: Change your privacy settings so that only close friends and family can view your personal information.
Create a “limited access” list : This is for people you may not know very well (or at all), and for coworkers, or potential employers who’ve sent you a friend request and put you in that awkward position of having to either decline (and offend them) or accept (and have your whole private life on display).
Reevaluate Your “Friends”: Go through your friends list and see who a.) Shouldn’t be there at all (promptly remove), and b.) Needs to be moved to the “limited access” list you’ve just created. A good rule of thumb is if you don’t know them in real life, you don’t need to friend them on facebook – there is too much personal information that could be used against you for a stranger to have access to. Coworkers should go into the limited access list, with exceptions only for VERY good friends.
“Edit” Your Photos: Go through your photos—not just on Facebook, but even online photo sharing albums that you don’t THINK anyone else can see—and remove anything that’s questionable. According to a New York Times article, it’s photos and videos that seem to get people in the most trouble. Questionable material can include nude photos and any photos where you’re dressed just a little too skimpy, as well as anything that makes reference to drugs, firearms (even if you own them legally), underage drinking and even smoking. Also remove any photos where you’re portrayed as immature—such as photos of you giving the middle finger or wearing t-shirts with inappropriate language. Remove these photos immediately. If you don’t own the photos, untag yourself and ask the person who posted them to take them down.
Self Censor : Don’t make any comments or status posts that use inappropriate language, or language can be construed as racist, sexist, offensive, or even culturally incensitive. If you’re looking for work, also steer clear of posts that are overly religious or political. Remove these posts immediately and don’t make anymore. In fact, some potential employers will view status posts simply to see the types of things you talk about on your Facebook page, and even if they don’t find anything inappropriate per se, they may be turned off if you seem immature.
Reevaluate Your “Groups”: Steer clear of any groups that could be construed as offensive. A recent New York Times article gave a poignant example. A job seeker turned off potential employees by belonging to a group called “This Is America. I Shouldn’t Have to Press 1 for English.”

More PLUS How to Remove Something from a Google Search! >>>

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Be Cautious with Emails: Many people aren’t aware that emails they post to listserves can come up in Google searches and appear online. Because it’s an “email” many people have a false sense of privacy, so be careful when posting or replying to listserves.

Don’t Bash on Blogs: If you have a blog, be careful what you post there. Anything regarding your work habits, how much you hate your boss, admissions of stealing office supplies, the fact that your posts appeared during working hours, can all be cause for alarm for potential employers. If you insist on keeping a blog like this, make sure it’s anonymous and can’t be traced back to you. Check and then check again.

How to Get Libelous (or scandalous !) Content Removed

If there’s something out there you have no control over that you need removed, here’s what to do:

Contact the offender if you know who it is. Be it a blogger, or a friend or enemy, try contacting them first and asking them to remove the content. If they refuse, it’s time to take action.
Identify the offender. If you’re not sure who is in charge of the site or who posted the inflammatory stuff about you, you’ll need to identify where the information is coming from. If the information is listed on a blog or another independent or small website, find out who registered the site. You can do this by visiting websites like Domaintools Whois Lookup, which provides detailed information about the website and who registered it.
Take Action. On sites like Domaintools, look for the “Admin Email” which you can use to contact the webmaster if no email is listed on the offending site. Also, look for the name of the host company in the “Server Data” section. Once you know who hosts the domain, check out the host company’s Terms and Conditions, to see if the offending material ALSO violates their terms—in which case they will have to remove it for you. Even if it's a gray area, you may still be able to sway them to take action.
Get it Removed from Google. If it’s not on Google, it’s tougher to find— anywhere else. So, naturally, another route is to appeal directly to Google, which will remove copywritten or privacy related information (such as social security numbers, signatures, etc) without question. Even if it’s not breaking these privacy rules, you may still be able to get the libelous material removed by reading Google’s Terms and Conditions and making a case for your particular situation. Here’s where to request removals from Google: Google Removal Tool.

*Note: Even if information is removed, it could take up to 90 days for it to stop appearing in a Google search. So take action immediately if there’s something not-so-flattering on the web about you, and give it some time, before it becomes an issue during your job search.

RELATED READING: Could a New "Social Media Background Check" Cost You the Job?

Information compiled from Careerealism, CTI Career Search, The New York Times and Makeuseof .

Unemployment Rises in June

By Lauren Bayne Anderson — Fri, 08 Jul 2011 13:03:00 -0700

JULY 8, 2011 -- The Nation’s Unemployment rate rose to 9.2% last month – up from its two year low of 8.8% in March.

The bad news is adding to spreading fears that the recession is headed for a “double dip”, where things could get worse again before they get better.

In June, employers added almost no new jobs. Only 18,000 jobs were added, a far cry from the 100,000 experts expected.

In the beginning of the year (From February to April) employers added an average of 215,000 jobs per month, which gave analysts hope that the economy was on an upswing.

Unfortunately, those hopes were dashed with this latest report in June.

Analysts say the economy needs to add 125,000 – 175,000 jobs each month just to keep up with the pace of the work force—including recent graduates and older people who have delayed retirement due to the economy. That doesn't even take into account the millions of unemployed that are still in need of work.

Currently about 14 million Americans are unemployed, almost half for six months or longer.

The only good news: Analysts still forecast an upswing in jobs for the second half of the year.

Some information compiled from the Los Angeles Times

How to Travel on a First Job Salary

By Lauren Bayne Anderson — Fri, 08 Jul 2011 12:05:00 -0700

The best time to travel is when you’re young. Seeing the world changes you—and helps shape your world view.

When you’re young, traveling is less about “vacation” and more about experiencing culture. Most likely you don’t have kids to worry about or a mortgage to pay.

But…it’s expensive. And the catch is that most young people don’t have a lot of extra money to put toward travel.

So, how do you travel on an entry-level budget? It is possible.

It won’t be luxurious – you won’t be staying in 5 star hotels—but you will get to see the world, experience the culture, taste the food and bring back tons of pictures and souvenirs to show your future kids and reminisce over for years to come.

Backpack: The term refers to buying a super huge backpack into which you stuff everything you need (from sleeping bag to clothes) for weeks of travel. It’s easy because you don’t have tons of bags to lug around. Everything is right there on your back! Plus your hands are free to hold maps, drinks and everything else you need to find your way around a new city.
Book early: If you’re planning a trip, book your flights early and do your research. Check sites like www.kayak.com for their fare calendar, which shows you which days are the cheapest travel dates and compares several websites.
Don’t spring for the Eurail ticket just yet!: If you’re backpacking around Europe, you’ve heard countless people tell you to buy a Eurail train pass. But it’s not always the best option. Europe has tons of low cost airline carriers that can get you there for cheaper and save days worth of travel time. For example, British airline Ryanair has flights from Paris to Barcelona for 20 Euros, including tax—that’s $30! They offer flights around France, Spain, Germany, Italy, the Netherlands, even Morocco and more! And there is more than one European low cost carrier—so check them out before you book your train ticket. Europe is not the only place with low cost airlines—be sure to research your location and you may be surprised.
Book hostels: Don’t let the movie scare you, hostels are a cheap alternative to hotels and most of them are pretty safe. Think of a hostel like a dorm—you’ll be sharing the room with several other people and you’ll have access to a shared bathroom down the hall. There are lockers to keep your stuff secure and many even offer free breakfast in the morning. The best part is, you can book a night at a hostel for around $15 depending on where you’re staying. Make sure to book in advance if possible—some hostels are much nicer than others. Do your research online, read traveler reviews and look at pictures. Then book the one you’re interested in, because like hotels, they do book up fast, especially during busy seasons.
Have one good meal in every city: Food can get expensive, but it is part of the culture you’re there to experience. Instead of dining out every night, select local “hole in the wall” places—they often have great, authentically local food and are super cheap. Eat from street vendors (that look clean) and buy snacks from grocery stores. But do allow yourself at least a couple of nice meals at nice restaurants. If you’re traveling for an extended time, a good idea may be one nice meal in every new city. You’ll get the flavor of the country without going broke.
Don’t be afraid to travel alone: None of your friends can take time off work and you feel like if you keep putting it off, you’ll never live out your dream of backpacking around Thailand, or Europe, or South America. Our advice? Don’t let that stop you! Get on a plane and go. You’ll find you’re not the only young travelers traveling alone. You will meet friends and the best part is, when they start to get on your nerves, instead of fighting about it, you can just split up! Trust us: Many a best friend has learned they can’t stand traveling together AFTER they were two weeks into a trip. And we promise, traveling alone will not be anywhere near as lonely as you think.

Editor's Column: Why Traveling is Worth its Weight in Gold>>>

Editor First Person: Why Traveling is Worth It's Weight in Gold

Fri, 08 Jul 2011 11:57:00 -0700

Since I was a little girl, I remember hearing my parents talk fondly about their travels in a time when they were young. Before us kids were even a “glimmer in their eye”. A time when they were free and experiencing all life had to offer.

Like the time they were chased through a Moroccan bazaar by a street vendor that was trying to rip them off. Or the time my father was mistaken for Muhammad Ali in Egypt circa in 1974 (he swears the villagers followed him around chanting “Ali Bumaye!” and showering him with gifts). Or the time they were mistaken for drug smugglers crossing the Spanish border. They talked about the delicious food they ate in Paris and the beautiful sights they saw in Luxembourg.

As a little girl, their stories were magical. It wasn’t just the stories themselves—which were exciting and fearless enough—that made me want to travel so badly. It was the way their faces lit up when they talked about their adventures. They never told me this, but I knew from the way they told those stories that traveling was the best time of their lives.

So when I graduated college, I knew I would make traveling my destiny. I figured Europe was a good place to start and mapped my trip through Paris, England, Spain and Italy. I bought a huge backpack, much like the ones my parents had stored away in our attic and I couldn’t wait to add patches from each country I visited as I made my way through.

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Like many other recent graduates, I didn’t have a lot of money. But what bothered me the most was that I didn’t have one single friend who wanted to make the trip with me. Either they had jobs starting immediately after graduation, they didn’t want to spend the money, they wanted to travel but not to the same places I was interested in, or a host of other reasons.

Part of me thought about delaying my trip until I could find a traveling buddy. But I feared that if I did that, in a few years, I would look up with a career I couldn’t leave, and a mortgage and maybe even a husband or kids—all of which would prevent me from doing what I’d been dreaming of doing since I first heard those stories years ago.

So…I got online and booked my flight. I paid $350 to fly from New York to Paris on Air India – an experience that was an adventure in itself. It wasn’t until I got off the plane in Paris that I started to panic. I had planned to call the hostel to get directions from the airport, but the payphones only took some sort of card, not coins and the recorded operator was firing off directions in French only. No press two (or three, or four) for English option. When I finally figured out what train to take to get to the hostel, I got to the train station, only to find that the public transportation workers were on strike!

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What the heck had I done, I thought. I’m here, thousands of miles from any family, I don’t speak the language, I don’t know where I’m sleeping tonight and I can’t even figure out how to use a payphone. What was I stupid for doing this all on my own!?

And that’s when I realized: MY adventure had begun.

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How to Travel on a First Job Salary

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I made it through that night and days after in Paris, where I had the best meal of my life, explored the Louvre, listened to street musicians at the Eifel Tower and discovered Nutella and crepes.

I got to Rome only to wind up staying in the dreaded hostel I’d heard legends about from other travelers—bedbugs, and a limping hunched back “house mother” who strictly kept the girls and boys on their “own sides” of the building. No mixing—not even to share a tub of toothpaste.

I was able to juxtapose that experience with Barcelona, where everyone slept in the same room! In Barcelona I fell in love with Gaudi and Picasso, fresh Paella, topless beaches and a club scene that didn’t really get start until 3 am.

That trip, I saw London, Venice, Florence, Nice, Monaco, and left my heart in a tiny beach town called Sperlonga about an hour south of Rome, where I learned to dig for clams and had the best prosciutto of my life.

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That trip taught me a lot of lessons.

Everything works out in the end. There were many nights that I didn’t know where I’d wind up sleeping and my type A personality would have obsessed over it before. But backpacking helped me relax and go with the flow. In the end it always worked out.

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I LIKE being with myself. I had worried that I would be lonely traveling alone. But just the opposite. I LOVED it. The hostels are filled with other young people from all over the world traveling the same cities you are, so it was so easy to make friends. If we had a mutual interest, I would do day trips with people I met in the hostels. If not, I did them alone. It was refreshing to be able to see what I wanted to see, eat where I wanted to eat and no have anyone to fight with about it (trust me I saw, a LOT of traveling buddies fighting). In fact, in Rome, I met one girl who was tired of her traveling partner, so we went off the beaten path and promised to meet her friend in Florence in 3 days. We had the BEST time, and in three days, we said our goodbyes and I was off to the next city.
The kindness of strangers—yes even the French!—can never be underestimated when you’re in a foreign land. (As long as you hide your passport, keep your wits about you and respect the local customs).
If you get the opportunity to travel—don’t ever hesitate to take it.

I also learned a lot about the world – from politics to culture. I was able to get a glimpse of how people around the world viewed things and they taught me about looking outside my own perspective.

That backpacking trip through Europe wasn’t my only trip—it was just the beginning. Since I started traveling, I lived in Israel for three years, and traveled to Egypt, Jordan, Turkey, Indonesia, China and Mexico. Many trips I made by myself, others with friends, and eventually some with my husband. I don’t think I’ll ever tire of traveling-- there’s still too long a list of places I want to see.

And now I have my own stories to tell: The time I bumped into Mos Def watching drummers under the Eifel Tower. The time I narrowly escaped having my tea drugged in a Cairo market and wound up running through the bazaar -- me running from the potential offender, a plain clothes officer running after him! (Sheesh, watch out for North African bazaars!) Riding a bike through rice paddies in Bali. Floating on the Dead Sea. Camping under the stars with tribes of Bedouins on the Red Sea in the Egyptian Sinai. And some that are more heartbreaking, like having a family friend kidnapped by Hezbollah, never to return alive, when I lived in Israel.

Every experience shaped me. Each one offering a story to pass on to my kids one day.

And just as expected, they have been the best times of my life.

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Editor's Column: Why Traveling is Worth its Weight in Gold>>>

Editor First Person: Why Traveling is Worth It's Weight in Gold

Page 2 >>> AND How to Travel on a First Job Salary

How to Travel on a First Job Salary>>>

Page 2 >>>
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How to Travel on a First Job Salary