Bay College Planning Specialists

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Preventing College Debt From Accumulating

By Devora Witts

the-college-prosOne of the biggest problems of college students and newly graduates is student debt. Since the aid that the government provides to help those in need go through college studies is not enough to cope with all the expenses, students resort to all kind of financial sources in order to raise the money that they need. Student debt accumulates rapidly and eventually, when the main part of the debt becomes due, the repayment installments are too onerous and sometimes absolutely unaffordable. That is why we suggest some measures to reduce if not avoid these results.

It is not possible in most cases not to resort to private institutions when you need financing for coping with college expenses. The government does not provide all the money needed and there are always additional expenses not contemplated in the federal student loan programs. However, it is possible to borrow smartly and to keep to a minimum the amount of money you need to borrow for getting by extra college expenses.

Loans Instead Of Credit Cards

A way to avoid additional debt during college periods is to avoid using credit cards for coping with additional expenses. It is sometimes better to budget what you will need and request a personal loan. That way a higher control over your expenses will assure that debt will not accumulate and you will get used to putting aside the money needed to pay for the loan’s installments every month.

Credit cards and the famous minimum payments can ruin people’s finances due to the lack of discipline. This is a considerable problem especially for college students which are not used to being careful with their spending habits. Minimum payments contribute to debt generation and accumulation due to interests. Personal loans on the other hand, have fixed payments (or with little variations) and fixed amounts. Thus, budgeting with these financial tools is significantly easier than with credit cards.

Shopping For Lenders, Taking Advantage Of Offers

From time to time there are wonderful offers from lending institutions that want to obtain customer fidelity offering 0% APR products or subsidized rates. It is a good idea to subscribe to as many newsletters as possible from different financial institutions so you can receive in your mail or email the current promotions. Remember though to examine the offers closely for any hidden fees or costs that some lenders like to conceal on the fine print.

Shopping for lenders is essential. You have to request quotes from as many lenders as possible before deciding for a specific one. Remember that financial products are just that, products. Thus, you can bargain with lenders as you can do so with a trader, merchant or retailer. It is a good idea to show them what other lenders are offering you and ask them if they can improve their offer. Rest assured that they will happily reduce the rate or exempt you from fees or costs in order to keep you as a client. Do not hesitate to negotiate with lenders; after all, you have nothing to lose.

About the author:
Devora Witts is a certified loan consultant who instructs people regarding Consolidation Bill and Bad Credit Fast Loans. To get aid with your financial
situation you can visit her at

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Filed under: California Colleges, Campus Lifestyle, College Debt, College Planning, Refinance, Students, , , , , , , , , , , ,

Free San Francisco Bay Area College Planning Workshops


Bay Area College Planning Workshops will help you to learn about the many issues College financial aid funding can typically present to a family. We will present useful information which can assist in safeguarding your families future. Our San Francisco Bay Area College Planning  Workshops will teach your family about:


  •  Tax Scholarships: What are they?
  •  Ways to get Thousands of Free dollars from the Colleges of your choice.
  •  How to keep on top of college admissions, FAFSA and scholarships.
  •  How some families have reduced their out of pocket college expenses by thousands.
  •  How some middle and or upper-middle class families send their kids to college for free.
  •  How to double or even triple your eligibility for Financial Aid.
  •  How to pick colleges that give the best Financial Aid packages. 
  •  Unlocking the unknown – How to win at the College funding game.
  •  The 5 myths concerning College funding.
  •  How to help your student find direction in the College search process.


December 2009 Workshops
Alameda Free Library Workshop
1550 Oak Street,
Alameda, CA 94501
Date: Tues Dec 8th
Time: 6:30pm-8pm
Redwood Christian High School Workshop
1000 Paseo Grande, 
San Lorenzo, CA 94580
Date: Tues Dec 8th
Time: 7pm-8:15pm
Webinar: “Learn the Insider Secrets to Get Free Financial Aid for College!”
Click on the link to register:
Date: Wed Dec 9th
Time: 6:30pm-8pm PST
Moraga Library Workshop
1500 St. Mary’s Road,
Moraga, CA 94556
Date: Sat Dec 12th
Time: 11am-12pm

Find out about the many more College funding secrets many Colleges hope you will never discover.  

 – Prior registration required for all workshops and teleseminars –



Filed under: Admissions, AP Courses, Applications, athletics, Banks, Bay Area, California Colleges, Campus Lifestyle, Career Path, Career Search, Classes, College Financing, College Planning, College Workshops, Consultants, Graduate School, Graduation, High School, Home Schooling, Internships, Junior College, Law Schools, Major, Med School, ncaa, Nursing, Out of State Tuition, Parental Guidance, Public Service, Recruitment, Refinance, Scholarship, single parent families, Students, Tax Credits, Tuition, Universities, , , , , , , , , , , , , ,

Andrew Cuomo’s “Code of Conduct” Plan: The Best Attempt To Stop “Predatory Lending” In the Student Loan Industry

If you are a parent of a college bound student or a student trying to finance your education on your own, you owe it to yourself to throughly investigate Andrew Cuomo’s campaign to expose and indict the student lending industry. This information could save you thousands of dollars and millions of headaches!

In June of 2008, Attorney General Andrew Cuomo of New York outlined and implemented a Code of Conduct plan for the 6 largest student loan lenders. Cuomo’s characterization of Student Loan lending institutions as purveyors of “predatory lending” practices is the most accurate and hard hitting characterizations of the industry by a politician yet.

Cuomo’s plan includes the following 7 provisions:

1. Ban on Financial Ties. Lenders are prohibited from giving anything of value to any college in exchange for any advantage sought by the lender. This severs any inappropriate financial arrangements between lenders and schools and specifically prohibits “revenue sharing” arrangements.

2. Ban on Payments for Preferred Lender Status. Lenders may not pay or give colleges any financial benefits whatsoever to get on a college’s preferred lender list.

3. Gift and Trip Prohibition. Lenders are prohibited from giving college employees anything of more than nominal value. This includes a prohibition on trips for financial aid officers and other college officials paid for by lenders.

4. Advisory Board Rules. Lenders are prohibited from paying college employees anything of value for serving on the advisory boards of the lenders.

5. Call-Center and Staffing Prohibition. Lenders must ensure that employees of lenders never identify themselves to students as employees of colleges. No employee of a lender may ever work in or providing staffing assistance to a college financial aid office.

6. Disclosure of Range of Rates and Defaults. Lenders must disclose to any requesting school the range of rates they charge to students at the school, the number of borrowers at each rate at the school, and the lender’s historic default rate at the school. This will ensure that schools will have the information they need to select preferred lenders who are best for students and their families.

7. Loan Resale Disclosure. Lenders shall fully and prominently disclose to students and their parents any agreements they have to sell loans to any other lender.

Look at these provisions carefully. Would you want to collaborate or become a customer of an organization that is being reprimanded for provisions 2 and 3. Essentially these are rules against kickbacks. Does it not make sense to search for an alternative to the stratospheric, exorbitant costs of college tuition loans?

What would you rather have as your plan to finance a student’s education:

High interest rate and long term loans that create financial unrest for your family for years or a financial plan that allows you to take advantage of the millions of dollars of government financial aid that goes untapped every year?

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Filed under: Admissions, Banks, College Financing, Consultants, Graduation, Major, Med School, Out of State Tuition, Parental Guidance, Public Service, Recruitment, Refinance, Scandal, Scholarship, Students, Tuition, Universities, , , , , , , , , , , ,


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