Post Academic

How to Avoid Student Loan Debt

Image Source,Photobucket Uploader Firefox ExtensionIf you insist on taking out a loan for graduate school, remember …

Don’t do it. That’s the easiest way for potential grad students to avoid student loan debt.

But who are we to get in the way of a career dream? So, if you insist …

Don’t take out anything more than you think you can make in the first year. Assume that you’ll be employed at a state school, not at a private school. Visit sites that list the salaries of state employees, and look up the salaries of people you know are assistant professors in your field. (It’s a lot more polite than asking people what they make.) Type in “state employees salary database” in Google and see what comes up. Many newspapers keep a database for muckraking purposes. If you’re in California, start here:

Get federal loans at a fixed rate. Perkins or Stafford loans, for example, come from the government, and they have a fixed rate. You don’t want to get a private loan with a variable rate. That variable rate might seem low when you first get the loan, but it can go up based on market whimsy, and the market has been unusually whimsical as of late. At least with a fixed rate, you will have an easier time setting a budget.

More after the jump! Cover of Bleak House from Wikimedia Commons. (more…)


Science Grad Programs Start to Feel the Pinch

Here at Post Academic, I am guilty of a few assumptions, and one of those top assumptions is that grad students in the sciences have it better. Labs can get funding outside the university, and their skills and achievements are easier to quantify and monetize.

Well, I’m not entirely right based on a recent post over at Female Science Professor’s blog. FSP must be an amazing advisor because she worked hard to get a smart student into a physical sciences grad program that looked like the perfect fit. It would appear that this student did everything right and got in. And yet …

He applied and was accepted, he visited the department, and .. the financial offer was so inadequate that there might as well not even have been one. The student would have had to get a job and take out loans to make it through grad school (just as he had done as an undergrad), and no one should have to do that in the physical sciences.

FSP moved quickly and helped the student get into another group, so this student is covered. He’s lucky. Not all advisors would have been willing to help that much, nor would they have understood the financial issues.

No one should go into debt for grad school, unless that person is rich or they have a guaranteed job upon graduation. (And the contract for that job should be signed in blood.) The fact that students in the sciences are having difficulties with funding makes me wonder just how bad it is in the humanities. Anyone care to share what funding packages looked like in your departments, and how did they stack up compared to previous years?

What I Don’t Know [Female Science Professor]

Speaking of Unhappy Customers …

Posted in Broke-Ass Schools,The Education Industry by Caroline Roberts on May 4, 2010
Tags: , , ,

Yesterday I linked to guru Seth Godin, who singled out colleges and universities for “amateur and bland direct mail” that encourages applications or donations.

Maybe Godin should have revised “amateur and bland direct mail” to read “mail that will piss former students off and lead to craigslist meltdowns.” One student received a brochure the student’s alma mater, where the student received an MA in public policy. Alas, the school’s timing was bad, as the student remains unemployed, despite a pricey MA:

So, what I want to know is, why are you wasting money on glossy fundraising brochures full of meaningless synonyms for the word “Excellence”? And, why are you sending them to ME? Yes, I know that I got a master’s degree at your fine institution, but that master’s degree hasn’t done jack shit for me since I got it! I have been unemployed for the past TWO YEARS and I am now a professional resume-submitter, sending out dozens of resumes a month to employers, and the degree I received in your hallowed halls is at the TOP OF IT and it doesn’t do a fucking thing.

You know, maybe if you wanted a little bit of money from me (and these days you’d get about $3) maybe you should send me a fancy color brochure admitting your role in the bubble economics that got us all in to this mess.

Note to institutions of higher education—perhaps your alumni might be willing to send you money if you printed those brochures on newsprint because full color gloss is expensive. Second, you might get more respect from your alumni if you sent them brochures about what your career center has to offer.

Best of Craigslist > Seattle > Dear University Alumni Office