Travel with me to the land of your younger, less-wise self, and live to teach others your new-found wisdom! That’s the offering in this week’s episode of The College Money Mom, as we explore the overwhelming mountain of student debt many of us racked up during college. It’s not too late to get repayment under control, as we will learn in the weeks to come. But for now, we owe it to our college-bound children to keep them from stepping blindly into the same financial pit.
Who knew? Or, really, who bothered to sit down and do the math on this? Well, when an unexpected letter from the College Board’s AP Program arrived in the mail smelling suspiciously like MONEY, it was incumbent upon The College Money Mom to check it out!
This week I am writing a script about repaying your student loans. This is for a few weeks from now. Needless to say, this is a stressful subject. So much to explain in under 3 minutes! It just makes me want to eat a giant bowl of PASTA! What’s a low carb College Money Mom to do? Why, cut up a spaghetti squash, of course! Voila! Low Carb Pasta!
You know you want some! Do this:
Cut a spaghetti squash in half. Scrape out the seeds and other goopy stuff, leaving the rind intact.
Cut it in quarters and put it in a microwaveable cooking bowl. Put in an inch or two of water. Cover and nuke for 10-12 minutes on high.
It’s done when you can poke a fork through the rind material and it starts to shred easily. Drain and put the pieces aside to cool a bit. When you can hold them comfortably, remove all the shreds of cooked rind. Guess what it looks like? Yup, spaghetti! Yay!
You can eat it plain or with spaghetti sauce. I like to add melted butter (real butter please), salt , a little garlic powder, and a generous crank of my favorite black pepper. Back to work now…see you on Youtube!
Hey! What a great idea: Get college students to work a little bit for their financial aid! They call it “skin in the game”, probably some old gambling terminology! Well, as with everything presented by our federal government, there are a lot of rules for the Federal Work-Study Program. The College Money Mom probes gently with her latest youtube video…so as not to bore you too much…the rest is up to you!
Why is the Private Scholarship Game like Professional Ice Hockey?
I guess if we were to equate this business of private scholarships to big-time sports, we would have to use hockey as the comparison. Yes, the players have to struggle mightily for each score. Yes, the scores are few and far between. Yes, the rules can seem arcane and randomly enforced. And yes, one false move can ruin a player’s chances for months to come. At least the private scholarship game doesn’t cause the player to lose his or her teeth! Mostly…
So, here is my attempt to explain why you have to be alert to the rules each college may apply to the money your student may win, and how to score even when the odds are seldom in your favor.
Should I try for private scholarships? Well, yes and no.
Like with any goal, it may take a big effort to achieve a small reward. On the other hand going after private scholarships could pay off BIGTIME! Today’s video takes a look at the odds of winning. I also name some of the best private scholarship search engines and some of the special criteria demanded by many of the scholarship organizations.