Taming The High Cost of College

Taming The High Cost of College

By Brad BaldridgeEducationHow To
Download on the App Store

Taming The High Cost of College episodes

  • TTHC51 – Consolidating and Paying Off Student Loans Interview with Andrew Josuweit, CEO of Student Loan Hero

    In this episode, Andrew Josuweit shares his expertise in helping students, parents, and other borrowers better manage their loans and make better financial decisions.
    College is an Investment
    “The average 2015 graduate walked across the stage to get their diploma with approximately $35,000 in student loan debt,” says Josuweit. “That means about $400 a month for the next 10 years.” The discussion about how to pay for college should start around the dinner table. There are many things to consider including:

    * The school you attend
    * Degree type and major you choose
    * Social network that you get from a connection to that college

    Lean start-up methodology:

    * How do we help a young adult get a job using the least amount of resources possible?

    “Spend the least amount you can on your bachelor’s degree,” suggests Josuweit. A great way to save some money is to have a child go to the local state school and stay home for their undergraduate degree. Parents might struggle with this idea because they want their child to go off and have the college experience, but it really is a better option.
    Having Debt and Being Unable to Find a Job
    Josuweit had this exact challenge when he graduated in 2009 from a top school and still couldn’t get a job. He advises, “This is a marathon not a sprint. You need to focus on increasing your income and increasing your skill set.”
    It is very difficult to decide what is a reasonable amount to borrow.

    * Get the most bang for your buck. Some institutions will cost double or triple. Is that really worth it?
    * How much is the family going to contribute to the education? Parents must set expectations with their children so they know their financial reality.

    Josuweit also suggests going to community college for one or two years before transferring. “You could save easily 10 or 20 thousand dollars,” shares Josuweit. You must make sure your credits will transfer ahead of time!
    Taking on Debt
    There are few different kinds of loans to consider when paying for college:

    * Parent Plus loans are in the parent’s name. They cannot be transferred to the child. Josuweit feels these should be a last resort.
    * Use FAFSA and get federal loans
    * Take out a private loan and cosign. It has more options.

    If you do have a Parent Plus loan, now is a great time to refinance. Also, after 12-36 months of payment, you can talk to your loan officer about refinancing. It is also good to look at refinancing once your child is fully employed.
    It is important that a college student does not ruin their credit. “You can use the 2 or 4 years you are in college to build your credit score,” describes Josuweit. There must be a clear conversation led by parents on how to manage that credit card responsibly. Josuweit encounters students with ruined credit scores all the time and helps them to recover.
    Repayment Programs that are Available
    Josuweit notes, “The average interest rate we see is between 5 and 6% and the average user on Student Loan Hero has about 8 different loans.”

    * Make sure your contact information is always up to date.
    * Usually there is a 6-month grace period after graduation before payments begin.
    * Deferment accrues interest, but puts off payments of loans until a steady job is acquired.
    * Income based repayment options allow for partial payment.
    * Someone working in a nonprofit, military, religious institutions, or federal or state organization can sign up for public service loan forgiveness.

    * Popular for teachers or health care providers. You must pay for 10 years and then after that it is forgiven tax-free.


    * Refinancing is best for someone who is employed, has a good debt to credit ratio, and can pay his or her payments.
    33 min
  • TTHC50 – How Sleep Connects to Success in College Interview with Dr. Tracey Marks, Psychiatrist

    In this episode, Dr. Tracey Marks shares her sleep expertise:

    * Has been in private practice for 16 years.
    * Has a general practice to see adults, but has an emphasis in seeing women for lifestyle management.
    * Became very interested in the connection between sleep and disorganization.
    * Created a podcast for working moms to focus on all the tasks they have to do.

    How Sleep Changes for Teenagers
    “I do see sleep as one of those first indicators of someone’s overall health, similar to someone’s weight,” said Dr. Marks.Naturally, people sleep at night time due to their biological clocks.
    Factors contributing to later bed times:

    * Hormones control our biorythm and hormones are changing in teenagers.

    * Delayed Phase Sleep Disorder: You can’t get tired early in the evenings.


    * Their clock can lengthen beyond 24 hours.
    * Teenagers can’t naturally fall asleep until about 1 am, but the degree varies from child to child.
    * Most people grow out of it.

    Children youger than in their teens need between 10-12 hours of sleep at night. High school age students need about 8 hours of sleep. A full adult beyond 18 needs between 7-9 hours.
    Addressing the Body Clock
    “One of the most powerful triggers for when you sleep is light,” warns Dr. Marks. If light is used from something like a light box, it can help pull the sleepiness of a struggling student to earlier in the day.
    The light must be blue light that mimics sunlight. It can’t just be a lamp.

    Electronic devices emit a similar blue light.

    * Esposure to smart phones or tablet devices before bed confuses your body clock.
    * Use blue light-blocking glasses (can be found online) to help prevent the interference.
    * The light on the eyes is what causes the problem.

    Sitting at a computer or having the device right by your face is what causes the body clock confusion.
    Bedtime for Teenagers
    Dr. Marks notes, “It is not good to shift your sleep back and forth for several hours on the weekend. The effect is similar to jet lag. You shouldn’t vary your sleep time by more than an hour.” Routine is very important for our bodies.
    Studying and Sleep in College
    Studying and working all night is bad. On the surface it seems helpful, but it is actually working against you.

    Memory Consolidation:

    * To be able to remember what you learned during the day, you need sleep.
    * Having a good night’s sleep will help you do better on exams.

    Parents can help teach their children good study habits before they get to college. Some kids need to multitask in order to focus, such as shaking a leg. “Unfortunately, with all the technology that we have, we need high-intensity stimulation in order to keep going. We can’t tolerate not being stimulated,” states Dr. Marks, “but this reduces your overall efficiency.”
    Parents know what their child needs. If what a child is doing is really helping them get their work done (such as fidgeting or listening to music), then embrace it. You are looking at the outcome of the behavior and assessing that before making a judgement.
    Medications for Studying
    ADHD/ADD is a real problem, but because of the misuse of medication, some parents are fearful. Some students can get by just struggling a little in high school, but when they get to college they now really struggle.
    There is a difference between a child having real trouble maintaining attention and a child that just wants to extend their studying or stay up late.
    A child that might have ADD/ADHD will struggle in other areas such as:

    * Staying focused on what you are saying to them
    * Interrupting
    * Forgetfulness/need constant reminders
    * Disorganized

    If you don’t see these things,
    33 min
  • TTHC49 – College Scholars and Athletics Interview with Shea Groom, FC Kansas City Professional Soccer Player

    In this episode, Shea Groom shares her experience playing sports through college and becoming a professional soccer player:

    * Born and raised in Kansas City.
    * Played many sports while growing up and discovered in high school her preference for soccer.
    * Joined an elite traveling club team.
    * Attended Texas A&M University after 10 college visits.

    Transitioning into College
    “The transition from high school to college is quite a big jump. Definitely physically with the athletic side, but also academically the mental game becomes a lot bigger issue,” emphasizes Groom. The routine of being a student athlete at the Division 1 level is challenging, but there is a great network available with lots of resources to support the transition. Groom earned a scholarship, but there were many levels of scholarships available at her college.
    Some different types of scholarships available:

    * Full scholarship- Everything is paid for, including books.

    * Usually available only to high prospects, which is a very small percentage of high school players.


    * Partial scholarship- Pays for partial college expenditures.

    * Covers the cost of tuition only or books only, for example.


    * No scholarship.

    * Usually aren’t recruited out of high school.



    Support in College for Athletes
    Groom was afforded an entire building, or student center, that was dedicated exclusively to the student athletes. As a freshman, Groom was particularly given extra assistance to ensure success academically. “They made it kind of easy to succeed,” promises Groom.
    Some things that can be provided to student athletes to help them be successful:

    * 2 study hall hours every night.
    * A learning assistant that helps schedule academic time and prepares you to have good learning habits.
    * The summer before the semester begins, students participate in athletics, but are also given time management courses in preparation for the fall semester.
    * Tutors and study rooms are also available.

    Student athletes have a difficult time juggling everything and benefit greatly from these supports to be a good student as well as a good athlete.
    The Difference between In Season and Off Season
    Academics are important during all seasons. “In season we are practicing everyday and training and having games on the weekend, so you’re kind of locked in,” explains Groom, “I think honestly the off-season is where most of the work and most of your time commitment is to getting better and developing.”

    * Not as many games, so more time is available to take more classes.
    * Can spend more time training in the weight room.
    * Still not a lot of free time as a student athlete.

    It is important to still have time to relax and unwind. Practice can run anywhere from an hour and a half to two hours. It’s about a total of 3-4 hours a day dedicated to just athletics.
    Balancing Traveling and College Life
    A typical weekend trip would be to leave on Thursday to play on Friday, and then fly out on Saturday in order to play on Sunday. Groom recalls, “When it was an “away” weekend it was quite an adjustment to be traveling all weekend and playing games, then to get home and start the week all over again. It can be pretty taxing on you mentally and physically.”
    There are some resources different colleges might provide to traveling teams:

    * Student could Skype a tutor.
    * Have an academic advisor on the trip to help or proctor an exam.

    If you don’t take the initiative to communicate with teachers about your schedule, it can be problematic. Groom stresses to communicate well with teachers ahead of time about what you need and who you are before a trip.
    29 min
  • 48 Effects of ADHD on Students and Families in the College Process Interview with Eric Tivers, ADHD/ADD Expert and Licensed Clinical Social Worker

    In this episode, Eric Tivers shares his expertise in working with students with ADHD:

    • Works with students with ADHD and students on the Autism spectrum with the college process.
    • Wasn't diagnosed himself with ADHD until sophomore year of college because he didn't exhibit the hyperactivity signs at a younger age.
    • Began working with ADHD and Autism spectrum students on study strategies.
    36 min
  • TTHC48 – Effects of ADHD on Students and Families in the College Process Interview with Eric Tivers, ADHD/ADD Expert and Licensed Clinical Social Worker

    ADHD and Success in College
    In this episode, Eric Tivers shares his expertise in working with students with ADHD:

    * Works with students with ADHD and students on the Autism spectrum with the college process.
    * Wasn’t diagnosed himself with ADHD until sophomore year of college because he didn’t exhibit the hyperactivity signs at a younger age.
    * Began working with ADHD and Autism spectrum students on study strategies.

    Being Successful with an ADHD Diagnosis
    “It doesn’t mean you can’t be successful; there are many people that are successful with ADHD, but the thing I think is really important to know is you’re going to need accommodations and supports and you may need to do it at a different pace,” said Tivers. Doing something that you love to do and knowing what you need to be successful is key. You have to be your own advocate because college professors might not be familiar with a 504 plan or an IEP. They won’t know how to help unless you speak up for yourself.
    Parents can help prep their children by:

    * Knowing ADHD has been shown to have about a 3 year delay on the brain. Sending an 18 year old to college is like sending a 15 year old to college.
    * Community college is a great option for those core classes.
    * What is your child very interested in? It is much harder to focus on tasks that aren’t centered around something they are passionate about.
    * If your kid is successful right now, how much of that is from the support of parents?

    It is very important, especially if your child is a senior, to start stepping back and letting them take more responsibility on their own and figure some things out. It is, however, so individually based; you have to know your child and what they can handle.
    College Selection Process for Students with ADHD
    Mr. Tivers recommends Landmark College, which is specifically designed for people with ADHD or other learning disabilities.
    Some things that help with being accepted into college:

    * Writing a great entrance essay
    * Being involved with other activities to take the pressure off only having great grades
    * Being a leader and showing you can overcome adversity

    The kids who tend to struggle the most in college are the ones with high IQ’s that can get by in high school just doing enough to pass.
    Students should be Involved in Their College Choices
    Again, Tivers stresses the importance of allowing students to pursue their passions. “For kids with ADHD, or any other learning difference, you gotta love what you do or you’re going to struggle. One of the worst things for someone with ADHD is to have a job they don’t like,” explains Tivers.

    * Allow your child to explore what is interesting to them, even if it isn’t a traditional job or career path
    * Encourage creativity
    * Community College is a great opportunity for your child to explore without it costing a fortune
    * Have your child contribute what they can towards tuition so they are more invested

    There is a Spectrum of ADHD
    ADHD often goes unnoticed and undiagnosed. “85% of people who have ADHD don’t know it,” Tivers says.
    There are 3 main areas with clear characteristics:

    * Inattention- distractibility, disorganization, or being “spacey”
    * Hyperactivity- having 2 speeds of fast and faster
    * Impulsivity- interrupting people, blurting things out, and doing things without thinking about the consequences.

    Combined presentation of ADHD is when more than one of these areas is present. As children get older, the hyperactivity decreases as the brain matures. Math, writing, and reading comprehension are areas of particular struggle for these kids. It is a real condition and treatment is important for success with college coursework.
    The Difference between a Messy Kid and having ADHD
    ...
    36 min
  • TTHC47 – Habits of A Students and Preparing for College. Interview with Karen Southall Watts, Author and Adult Education Expert

    In this episode, Karen Southall Watts talks about the habits of “A” students, including

    * Study skills
    * Organizational skills
    * Time management

    Watts and a colleague developed a workshop called, the Habits of A Students. “We found that many students come to college without all the skills and strategies that they really need to succeed in adult education,” said Watts.
    A strong high school student is not necessarily going to be a strong college student. The transition to the adult education world is very different from the high school world. Students have to make the switch from being a student to an adult learner, who has to be much more accountable to their education.
    Parents should have conversations with their student about what is required at college. Ask these questions:

    * What’s your strategy for doing this?
    * How do you plan to finish this project?
    * What do you think will happen after you finish this section of your work?

    Listen to how they verbalize their strategies. Or are they unable to verbalize their strategies? If so, they should take part in the Habits of A Students workshop.
    Inter-Personal Skills
    College students also need to have strong inter-personal skills, which include:

    * Being polite
    * Being on time
    * Being able to engage in a conversation with someone whose opinions differ

    Preparing High Schoolers for the Transition to College
    Again, Watts stresses the importance of working on the inter-personal and accountability side of the transition. “A students are adaptable and collaborative,” said Watts.

    * Ask your student for their opinions
    * Engage them in conversations about the transition
    * Address time management

    Technology in Classrooms
    With so much technology available today, some colleges have implemented rules about cell phones, tablets, and other devices. “Colleges have a real difficultly laying down the law around technology…because we are dealing with adults,” said Watts.
    The Habits of A Students workshop raises awareness about what it means to access technology during class. Using technology in the classroom can mean students are not paying attention and disrespecting the instructor. “We’re looking down the road towards the workplace,” said Watts.
    You don’t want your boss and co-workers to feel like you are not paying attention or that you are being disrespectful! “When you go into the workplace, you can really give people your total undivided attention and that’s going to make you stand out,” said Watts.
    Big Brother
    When students go to college, they do not have someone watching over them to make sure they do their homework. So sometimes they fall behind and do not hold themselves accountable. “That is one of the ways that parents can begin prepping their students to go to college is to provide them with a few opportunities without giving them the structure,” Watts said.
    Provide low-stress opportunities to practice the skills of time and task management as well as self-direction. Then when they get to college, it is less of a shock.
    Struggling Students
    If you get a phone call that your student is struggling, “Resist the urge to be a helicopter parent and go in and try to fix it all,” said Watts. Helicopter parents are those who hover over their children long into adulthood. But students won’t learn anything if the parents do everything for them. The students need to fix things themselves. There are support services on campuses for students to utilize in such cases. Services may include:

    * Counseling for stress and relationship problems
    * Tutoring
    * Accessibility (learning and physical disabilities)
    * Coaching/peer mentoring programs

    “There’s typically a whole list of things that are available to students,” said Watts.
    29 min

About Taming The High Cost of College

From the publisher's feed

Taming the High Cost of College teaches parents the secrets of how to plan and save for college so you can help make your children's dreams come true. Hosted by Brad Baldridge, a Certified Financial…