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College Confidential’s “Dean,” Sally Rubenstone, put together 25 of her best tips. So far, the "25 Tips from the Dean" eBook has helped more than 10K students choose a college, get in, and pay for it. Get your free copy: http://goo.gl/9zDJTM

Zinhead Senior Member

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  • Americans Are Paying $38 to Collect $1 of Student Deb

    From Bloomberg:

    The federal government has, in recent years, paid debt collectors close to $1 billion annually to help distressed borrowers climb out of default and scrounge up regular monthly payments. New government figures suggest much of that money may have been wasted.

    Nearly half of defaulted student-loan borrowers who worked with debt collectors to return to good standing on their loans defaulted again within three years, according to an analysis by the Consumer Financial Protection Bureau....Even when borrowers don't default, debt collection efforts often yield little. Close to 80 percent of borrowers who rehabilitate their debt make the minimum $5 monthly payment, according to a 2015 estimate by the National Council of Higher Education Resources, a lobbying group that represents student debt collectors and servicers. That means the Education Department is paying its debt collectors up to $1,710 per borrower to collect around $45, regardless of whether the borrower continues to make her payments.

  • Re: Taking an unpaid internship

    Unless you really needed the money, I would take the internship with a smaller potential growth firm over a minimum wage hourly position. A few months ago, I had a meeting with the owner of a couple of new car dealerships. I asked him how he got in the business, and he said that when he was in college studying to be an accountant, he got a job washing cars at a local dealership. When he graduated, he got a job being an in-house accountant at the same dealership. He did this for various dealership groups and got to know the entire operation backwards and forwards, until he saved enough to buy his own dealership when he was 35. Now he owns multiple dealerships and is easily worth $10,000,000+.

    If you think you might be interested in this industry, take the position, but since you are unpaid, ask them to teach you the entire operation. Learn how to clean the fermentors, go out on sales calls, make some deliveries, etc. Just don't let yourself be cooped up in front of a computer.
  • Re: Thought on match and safety schools for my DD

    @Proudmama2 - Take a look at the following document from the ACT. It is dated, but the numbers will not have changed much. Page 12 has the relevant statistics. It shows that out of 240,000 blacks that took the ACT that year, only 475 scored a composite 32 or above.


    That would place your DD among the top 500 AA ACT test takers in the nation. To put that in perspective, every year more than 75,000 students achieved a composite score of 32 or more.

    Given that your DD will be a woman with a STEM background, she would be highly prized by any number of schools.

    My advice would be to find a good safety you are comfortable with (Alabama sounds good) and then reach for the stars by adding some Ivies, Stanford, etc. The need based aid offered by these schools is excellent. The following is a link to Harvard's Net Price Calculator which makes it very to check what the tuition would be.


    Good luck and let us know what happens!!!
  • Re: "Race" in College Applications FAQ & Discussion 12

    On the bright side, at least you did not read the prior 11 editions of this thread.

    You can start here if you like:


    Congratulations on the 36. Less than 2,300 test takers score that well.

  • Private Colleges See Record Discounting Amid Pressure from Cost-Conscious Families

    Various sources had this story today. The following is from Inside Higher Ed.

    Tuition discounting at private colleges and universities is up again. Tuition revenue is straining to keep up. And enrollment is weak. Those are the top takeaways from the 2016 Tuition Discounting Study from the National Association of College and University Business Officers. The latest version of the annual study, which was released today, provides a look at how much colleges and universities are awarding students in scholarships and grants -- and how much they are effectively undercutting their own tuition and fee sticker prices. It also offers a glimpse at how such tuition discounts affect other key measures of college and university financial health.

    The latest findings show no break from long-established trends of rising tuition discounting. The headline average institutional tuition discount rate for first-time, full-time students hit an estimated 49.1 percent in 2016-17, up from 48 percent the previous year. For all undergraduates, the average institutional tuition discount rate rose to an estimated 44.2 percent, up from 43 percent.

    And the WSJ podcast on the topic.