FAP793: Writing effective cover letters that sell

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Student Financial Aid News
+ Yesterday we did a special on HR 5715 - make sure you grab the PDF!
+ Inside Higher Ed: All the turmoil in the student loan industry has plenty of lenders and others worried, but you don’t need to lose sleep over Sallie Mae (ticker: SLM). An analysis released Tuesday by Lehman Brothers (ticker: LEH) predicts gains for the student loan giant. With other players leaving the field and the government now worried about keeping entities in lending, Sallie Mae should see its market share and profitability both grow, Lehman Brothers says. A survey released Monday by the Federal Reserve, meanwhile, finds that a majority of the nation’s leading banks said they expected to decrease their commitments to making federal student loans in 2008 compared to 2007, and most said they expected a decline in the number of colleges to whose students they make loans.
+ Chronicle: Not long ago, forecasts for state appropriations to higher education were gloomy, as the credit crisis, a slumping housing market, rising energy costs and unemployment, and sagging consumer confidence took their toll on state finances.
+ But the budget news emerging from many statehouses for colleges and universities has been better than expected. In many states, higher education has been spared the deep cuts being required of other state agencies. In some states, lawmakers are even providing increases.

Scholarship Update
+ National Financial Literacy Challenge
+ On January 22, 2008, President Bush signed an Executive Order establishing the President’s Advisory Council on Financial Literacy. The Council members held their first meeting in February. One of their initial recommendations was to focus on increasing financial education for young people. The National Financial Literacy Challenge is a recognition program that uses a voluntary, online test to determine and reward high levels of financial literacy among America’s high school students.
+ Each of the top regional performers in the 2008 National Financial Literacy Challenge will win a $2,500 scholarship for use at the post-secondary institution of their choice. A $1,000 contribution in their name will additionally be given to the school or program* that provided their money management education.
+ Deadline May 16, 2008
+ Details at our free college scholarship search site

Jobcast
+ Writing a sales-oriented cover letter
+ All cover letters are sales letters
+ The product you are selling is the skillset of you
+ What can you do that others can’t, that has value?
+ Some template ideas:
+ AIDA/PAGSSS/ABCDE
+ The reality is that most people are not great writers
+ You don’t have to be - follow one of the many formulas and formats
+ Make sure your cover letter gets delivered - many formats

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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+
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Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Edvisors Jobs
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP788: Reputation protection online

Jobcast
+ On the road this AM, talking about Google, personal brand, and keeping things clean

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Edvisors Jobs
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP780: MEFA, 7 essential job hunting productivity tools

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Student Financial Aid News
+ I was on WCVB again last night about this piece of news - MEFA, the Massachusetts Educational Financing Authority, our state-run student loan agency, is withdrawing from the federal student loan market as of July 1.
+ If you are a student who has loans through MEFA, the Student Loan Network is still very much in business and we’d be happy to help you.
+ When your lender goes boom, three things you need to do
+ Make sure you’re cranking out scholarship applications like a bandit - every dollar you can win is a dollar you don’t have to borrow
+ Grab our free scholarship search secrets eBook
+ Get in touch right away with your school’s financial aid office, no matter where you are in the process (unless your loan has already been funded and deposited) just to make sure things are proceeding as you expect
+ Find another lender to do business with that’s still in business
+ Apply for your financing NOW - then crank out scholarships. Ask your financial aid office when they do their certification process, because once that begins, you’ll have only a short time to return excess federal student loan funds
+ If you’re likely to win scholarships, apply for private student loans minus the amount you’re likely to win. Depending on the situation and lender, it can be harder to return private student loan funds.

Scholarship Update
+ AISES Google Scholarship
+ $10,000, 20 awards total
+ New in 2008, the AISES Google Scholarship will fund scholarships awards to American Indian, Alaska Native and Native Hawaiian AISES members pursuing degrees in the computer science, computer engineering and management information systems. AISES and Google support the advancement of American Indian and Alaska Native students working towards obtaining a degree in the fields computer science and technology so they can obtain the necessary skills to compete in today’s global society.
+ Details at our free college scholarship search site

JobCast
+ 7 Job hunting productivity tools you can’t do without
+ Things or another task management system
+ Google Calendar or other calendaring software
+ Gmail or other remotely accessible mail so that you’re never out of touch
+ A blog and personal web site complete with your thoughts and perspectives as a working professional in the vertical of your choice
+ LinkedIn or another career oriented site to build a network
+ A professional voicemail box where people can leave messages - SpinVox is nice
+ Business cards
+ Disclosure: I am, sadly, not compensated by any of these companies for my recommendations. I wish I was. If you work for any of these companies, I invite you to sponsor the Financial Aid Podcast.

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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+
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Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP775: Underwear scholarship, FAFSA, LinkedIn JobCast

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Student Financial Aid News
+ Yesterday we had a terrific live episode talking about the student lending crisis - over 250 people tuned in live, and probably three times as many asked if they could grab a copy later
+ Why yes, yes you can! It will be next Wednesday’s episode. If you’re hearing the sound of my voice, you already know where to find it when it comes out.
+ Taxes are due April 15 if you haven’t filed already
+ Inside Higher Ed: Columbia University’s School of Law recently announced changes to its 25-year-old Loan Repayment Assistance Program that helps graduates going into public interest or public service careers. Graduates borrow money from the law school to pay their student loans. If they work long enough in public interest jobs, the law school forgives the debt.
+ In the past, benefits began to phase out once a person’s income level exceeds $25,000 per year. Under the revamped program, the income threshold is $50,000 for students who graduate in 2008 or later. (The university says that is the highest threshold of any such program in the country.)
+ Some alumni are upset that the changes don’t apply to them, and members of a group have written a letter asking the university reconsider its decision.
+ Forbes: Student lender Nelnet Inc. has sold two student loan portfolios with total outstanding balances of $858 million and $428 million, according to a Securities and Exchange Commission filing on Wednesday, to an unnamed large national bank.
+ Probably either Citigroup (ticker: C), JP Morgan (ticker: JPM), or Bank of America (ticker: BAC) since those guys are the only ones with very large cash reserves left
+ The combined purchase price represented about 98 percent of the principal balance of the loan portfolios and included about $842 million of student loan consolidation loans, Nelnet said.
+ Nelnet also disclosed that it held about $600,000 of private student loans on its balance sheet that are insured by The Education Resource Institute, or TERI, as of March 31. TERI, a nonprofit firm that provides financial guarantees, filed for bankruptcy protection late Monday.
+ Nelnet said is currently not originating new private student loans to be held on its balance sheet.
+ What does this mean for you? If you have loans with Nelnet, they may just have been sold, but that likely won’t impact you as the servicing/paperwork part will remain the same

Scholarship Update
+ In Brief Scholarship
+ This is by far the strangest scholarship I’ve ever seen
+ Communication is key to your sexual health - a simple chat BEFORE you get naked can help stop the spread of STDs, HIV and unplanned pregnancies. Start the conversation now by designing a pair of boxers, panties or a t-shirt with a design or message that says that YOU’RE GOING TO PLAY SAFE. Let your undies be your guide. No purchase necessary. Open to anyone who is a resident of the 50 United States or the District of Columbia, has access to the Internet, and is 14 or older at the time of entry.
+ $1,000 first place
+ $500 second place
+ Deadline May 15
+ Details at our free college scholarship search site

Mail Bag
+ William wrote in: I just started listening to your podcast this year. I like it a lot and got a lot of great information. I had a question about the fafsa. I am planning on getting married in AUG. on the fafsa it asks your marital status. should I put married, if I plan on being married when I go to school in the fall (sept). thank you for your time.
+ FAFSA data is at the time of filing

JobCast Thursdays
+ Transforming yourself into a digital hub with LinkedIn and HelpAReporter.com
+ LinkedIn is a career and professional network - and it lets you develop a large group of people from a variety of backgrounds
+ LinkedIn feeds network effects - the more people in your network, the more valuable you and your network become
+ As jobs and opportunities begin to flow into your network, you’ll find most don’t apply to you, but you can then refer others to those opportunities
+ Develop a reputation as a person who can connect others to resources
+ You yourself don’t need to even be employed - you can do this as a grade school student, practically
+ Here’s the twist - as you get to know your network better, you’ll begin to learn about what your contacts are doing, what professions they have
+ HelpAReporter.com is a free service by Peter Shankman, a PR professional, that sends out queries from reporters for stories about all kinds of stuff that isn’t relevant
+ Provide as much value to your network as possible - give, give, give

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP771: Jobcast: How To Get Started Out of College

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Burston Marsteller PR agency’s Allie Osmar recently interviewed me for her show, the Creative Career, on what college students just graduating should be doing to get ready for a career after college. We cover tips like personal brand, LinkedIn, GTD, and more.

This episode runs about 19 minutes.

Promo
+ Financial Aid Podcast Live: Surviving the Credit Crunch

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP766: Admissions Wait Lists and Using LinkedIn

Listen now:

Student Financial Aid News
+ Got some awesome mail to start my day from Nolan in Oregon: Thank you very much for publishing your Ebook on scholarships and making it free for students like me to access. Although I am a senior this year, I have enjoyed the fruits of my labor thus far with over $5,000 (and counting) of scholarship money. I definitely plan to keep using your guide on throughout college and I plan to pass it on to other students also.
+ NASFAA: “Zions Bank is joining other big banks in getting out of the federal program to make government-guaranteed student loans, the consequence of subsidy cuts that have made lending to students unprofitable,” The Salt Lake Tribune reports. “The largest Utah-based bank will stop accepting new federal student loan applications through the Federal Family Education Loans program on Monday and, instead, will substitute new programs Zions is developing that will be in place later this spring. ‘Given the changes in legislation that have taken place, it really has made it not viable from a financial standpoint to continue accepting applications for government-guaranteed student loans,’ said Zions’ Rob Brough.”
+ Inside Higher Ed: Colleges are upping the number of applicants they place on waiting lists this year, given that major changes in the economy and institutional aid policies have more admissions officials feeling uncertain about what their yields — the percentage of accepted applicants who enroll — will be, The Boston Globe ported. Waiting list totals are up 50 percent at the Massachusetts Institute of Technology, 22 percent at the University of Vermont, 17 percent at Northeastern University, and 15 percent at Dartmouth College, the Globe reported.
+ Graduate admissions consultant Anna Ivey has a GREAT post on her blog about what being on a wait list means

Scholarship Update
+ Sum Up Sports Scholarship
+ Put on your thinking helmet! We want you to create a mathematical equation using people, places or things that can be summed up to create a radically new sport. For example: chess + pro wrestling + a steel cage = Ultimate Checkmate! Or how about baseball + keeping your bat + ninjas - umpires = BaseBrawl. See, it’s fun! Here’s one more example: bowling + leotards x glitter = Figure Frames! Now it’s your turn to “figure” it out. Do the math, find your pics and get your game on! Make sure you include a description too. No purchase necessary. Open to anyone who is a resident of the 50 United States, the District of Columbia or Canada (excluding Quebec), has access to the Internet, and is 13 or older at the time of entry.
+ $500 award
+ Deadline May 26
+ Details at our free college scholarship search site

Jobcast
+ How to use LinkedIn properly
+ LinkedIn offers two things that make it stand out - public resumes and recommendations
+ Mitch Joel has a great quote: it’s not about who you know. it’s about who knows you.
+ Start by building your database
+ Set up a special LinkedIn only email address
+ Build the heck out of your profile - jobs, activities, clubs, etc. - and be sure to treat them all as jobs so that you can gather recommendations
+ Get recommendations from everyone
+ Join LIONs clubs (and expect a lot of spam)
+ Attend conferences
+ Create your own custom invitation request
+ “I’d like to add you to my professional network” is synonymous with “I have no creative abilities whatsoever and I’m bloody lazy, too”
+ Extract email addresses from commenters on your blog - you do have a blog, right? - and import them into LinkedIn to see who’s on there that you know
+ Add in schoolmates, professors, anyone who has a verifiable connection to you, because that’s both the power and mystery of professional networking - not only is it about who knows you, but who knows them
+ Stay in touch - export your connections frequently and send them an email newsletter once a month or so with what’s going on in your professional life

Promo
+ Financial Aid Podcast Live: Surviving the Credit Crunch

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP761: Jobcast - How to find a job quickly

Listen now:

Student Financial Aid News
+ The 91 day T-Bill last night closed at 0.59% - a record low
+ If you have variable rate federal student loans from before July 1, 2006, this is good news for you - if T-Bills stay this low, your interest rates on those loans when they reset in May will be the lowest student loan rates ever.
+ Chronicle: Several months into a credit crunch that has led at least 20 lenders to leave the guaranteed-loan program or suspend their lending operations, lawmakers have begun to respond with a sense of urgency—even as they seek to reassure students and parents that a crisis is unlikely and that federal student loans will still be available this fall. In the end, though, there may be little that Congress can do to shore up the federal student-loan system, beyond pressuring other government entities, like the Education and Treasury Departments, to take action.
+ But it was not until Pheaa, the largest of the state-based nonprofit loan agencies, announced that it was temporarily withdrawing from the federal student-loan market that Congress’s Democratic leaders really took notice. Like many lenders that have exited the federally guaranteed loan program, Pheaa had relied on the asset-backed securities market to finance its loans. That market has dried up in recent months, leaving some lenders without enough money to continue making student loans.
+ Scott Miller: “If the Fed can bail out Bear Stearns, they can bail out student loans.”
+ Greentree Gazette: Only about 10 percent of all outstanding student loans are funded by bank deposits. Ninety percent are funded by U.S. capital markets. Paul Wozniak Managing Director, UBS Financial Services Inc.
+ The current liquidity shortage in the U.S. capital markets means there are no buyers for our securities. As a result, most lenders are receiving a negative return on their funds. Engaging the ‘lender of last resort’ mechanism will not solve the problem. Chuck Sanders Chief Operating Officer, South Carolina Student Loan Corporation

Scholarship Update
+ AirDrive If Only You’d Heard It Coming Scholarship
+ AirDrives wants to hear your story of a blunder, mishap or near miss that happened because you had on earphones that blocked out your surroundings. Maybe you were almost hit by a car while jogging, didn’t hear the fire alarm going off, missed an important call, didn’t hear your boss behind you in the office or some other crazy mishap…the more entertaining the better! Submit a photo, video or blog telling AirDrives your tale and you could win an iPod Touch, the latest version of the iPod AirDrives interactive stereo earphones, plus a $500 scholarship or cash! No purchase necessary. Open to anyone who is a resident of the 50 United States, District of Columbia or Canada (excluding Quebec), has access to the Internet, and is 13 or older at the time of entry.
+ May 3 deadline
+ Details at our free college scholarship search site

JobCast
+ What do you do if you’re caught short by surprise, unexpectedly out of a job?
+ Financially, immediately make cutbacks to discretionary spending
+ It’s super important to conserve cash; if you have stuff like extras on your cable package or cell phone plan, trim that back. Trim back dining out and other discretionary extras like Starbucks, etc.
+ If your resume is not up to date, obviously, get it tuned up
+ I like services like LinkedIn which let me solicit recommendations for work I’ve done
+ Recommendations also provide lots of great backup data for a future employer to check out
+ If you are staying in the same vertical, the same industry, now’s the time to crack open your rolodex and see who you know, who you’ve met
+ If you haven’t spent a lot of time networking in your industry and you want to remain in it, try to identify influencers in your industry and reach out to them
+ Industry specific mailing lists - especially email lists - can be invaluable for this
+ If you don’t have one already, get a “professional” email address that’s separate from your personal one - use that for outreach mailings
+ Services like GMail limit you to 500 emails a day - so be prepared to be a little selective
+ If you’re focusing more on geography than vertical, be sure to look at the paid job boards - Monster, Craigslist, etc.
+ A company that pays for a job ad is serious about hiring, and they may have other jobs that they have not paid for but are still open
+ Use Google to find email addresses of prominent employees - Crayonville example

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Student credit card information at StudentPlatinum.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP754: 7 Ways To Leverage Your Social Media Resume

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Student Financial Aid News
+ Made it into the New York Times! More on that in the Jobcast
+ Inside Higher Ed: The Utah Tax Commission has ruled that textbooks sold in college bookstores are part of the educational mission of colleges and thus are tax exempt. The Salt Lake Tribune reported that the policy shift, effective April 1, will save about $60 per student a year, or $4.7 million for students statewide.
+ Other states could potentially follow suit
+ Columbia University is today announcing an expansion of financial aid, ending student loans for students who are eligible for aid, The New York Times reported.
+ I had a quick blog post about how the Federal Reserve and student loans yesterday - with some dissenting comments. What about your thoughts?

Scholarship Update
+ New York Times Scholarship Program
+ 180 scholarships worth $30,000 each ($7,500 per year for 4 years)
+ The New York TImes College Scholarship Program: Since its founding in 1999, this program has awarded 180 grants – 80 to current undergraduates, 100 to students who have already graduated from college. The scholarships provide up to $7,500 a year for four years of school. The winners each year are 20 students who have overcome exceptional hardship and achieved excellent academic records in New York City high schools, public, private or parochial. Times Scholars must also show a commitment to community service and aspire to make a contribution to society.
+ In addition to the scholarship money, each New York Times Scholar receives a job at The Times during the summer after high school and help finding paid summer employment in the college years after that. The Times also provides mentoring of various sorts, academic counseling throughout college, social and cultural enrichment activities – and a laptop computer.
+ Deadline October 20 of each year
+ Details at our free college scholarship search site

Jobcast
+ Reviewing the Social Media Resume
+ Marci Alboher did a great job covering the social media resume’s evolution
+ So you have the social media resume, now what?
+ Use social media promotional tools to make it sizzle
+ Build a network of professionals on LinkedIn - and make sure your SMR is in your profile
+ Simple: put it in your email signature
+ Build a network of presence on Twitter
+ Use link traffic services like Digg and StumbleUpon
+ Make sure it’s present all over your online presence
+ Consider a video cover letter or a multimedia cover letter
+ Find employers on traditional online indexes like Monster.com
+ Submit a PDF or normal resume but make sure your SMR is linked prominently at the top

Promo
+ Private student loan consolidation

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
+
+
+

Direct MP3 file download: Click here to download the MP3

Reminders
+ Student Loan Network Fall $10,000 Scholarship
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP749: How I Got My Job, Private Student Loan Dangers

Listen now:

Student Financial Aid News
+ Chronicle: In a report released today that outlined some of the dangers of private student loans, the National Consumer Law Center reviewed 28 private loans issued from 2001 to 2006. The group found all the loans to have variable rates, with initial annual percentage rates ranging from 5 percent to 19 percent. The average initial APR was 11.5 percent.
+ The survey of the more than two dozen private loans found several other problems, the report says. A number of lenders in the study were unwilling to offer reasonable settlements, and some loans “stated explicitly that there will be no cancellation if the borrower or co-signer dies or becomes disabled.” Some went into default as soon as one payment was missed.
+ Here’s the thing about this study, and about private student loans in general.
+ First, no one forces students to take these out – responsible lenders are even going so far as to warn students in advance of borrowing a private student loan, as are many financial aid officers.
+ Second, this entire market exists solely because as a country, as a citizenry, we’ve decided other national priorities eclipse a willingness to spend tax dollars on education, right or wrong. For example, the estimated value of the Iraq conflict, using accrual accounting (as opposed to cash accounting, which only the government can legally use), is $3 trillion as of today. Each month spent engaged in operations runs $12 billion; in just 6 months, the same spending would eliminate not only private student loans, but all student loans, period, if we as voters chose to make it a national priority and elected a government in alignment with those priorities. We did not, we have not, and we have earned the system and priorities we currently have based on our choices. No matter what your political beliefs are, these are the choices we have made, and the consequences of them.
+ The financial aid priorities list
+ Find and get scholarships
+ File your FAFSA
+ Apply for the maximum available federal student loans
+ Apply for private student loans as Carla Berg of Bentley describes them, the loans of last resort
+ For a great listen, check out Bloomberg’s On the Economy podcast, the interview with Joseph Stiglitz, author of “The Trillion Dollar War”

Scholarship Update
+ All About Education $5K Scholarship
+ One (1) $5,000 scholarship will be awarded. Students must complete an application online at http://www.scholarshipexperts.com/apply.htx#5K&src=cs and include a short, original, previously unpublished written response to the topic, “How will a $5,000 scholarship for education make a difference in your life?” The response must be in English, exhibit correct spelling and grammar and be no more than 250 words in length. Additionally, each applicant is required to complete a scholarship search profile online at www.scholarshipexperts.com . Deadline ot apply is April 30, 2008 at 11:59pm Eastern Daylight Savings Time.
+ Details at our free college scholarship search site

JobCast/Mail Bag
+ Daniel Johnson Jr. called in about the jobcast episode
+ Thanks, Dan!
+ HowIGotMyJob.com
+ How I got this job is a funny, funny story
+ Seth Godin’s All Marketers are Liars

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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+

Direct MP3 file download: Click here to download the MP3

Reminders
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast

FAP743: Jobcast: Top 6 job hunting tips

Listen now:

Student Financial Aid News
+ NASFAA: “Brown University is eliminating tuition for students whose parents earn less than $60,000, after decisions by fellow Ivy League universities to bolster financial aid as their endowments grow,” The New York Times reports. “The university, in Providence, R.I., said on Saturday that it also planned to substitute grants for student loans in the financial aid packages of students whose families earned less than $100,000 a year. Brown also announced plans to increase tuition by 3.9 percent for the 2008-9 academic year to $36,928. With room and board, the costs are $47,740 for one year.”
+ Chronicle: Antioch College will close after all, the Antioch University Board of Trustees ruled on Friday. The decision confirms the board’s original plan, announced last June, to suspend operations at the 155-year-old campus for the 2008-9 academic year.
+ CNN: SLM Corp. (ticker: SLM) said Friday it is on track to close on its new and increased credit line in the asset-backed commercial paper market. The student-loan provider also said in an interview with Dow Jones Newswires it expects to complete the deal in the next two weeks. The affirmation of the $35 billion of funding - up from the earlier announced $31 billion - comes amid speculation that the new financing agreement would hit a snag as investors shy away from credit markets in the ongoing credit crunch. Sallie Mae, which needs the financing for its student-lending business over the next year, will likely secure the deal at costly terms, said an asset-backed commercial paper investor.
+ Private student loans at AlternativeStudentLoan.com
+ Couple of different comparisons of private student loans

Scholarship Update
+ NABJ/CNN Scholarship
+ Number of Awards Available: Four (4) four-year scholarships
+ Amount of the Award: $25,000 ($6,250 per year for four years)
+ Eligibility Criteria
+ Rigorous competition for the scholarship is open to high school seniors who are currently attending an accredited high-school. Students must be accepted at an accredited college college/university pursuing a career in broadcast journalism.
+ Be a high school senior, enrolled at an accredited academic high school.
+ Accepted to an accredited four-year university, with a major in broadcast journalism.
+ Minimum 3.0 GPA (on a 4.0 scale)
+ 2 Letters of recommendation
+ Proven community involvement
+ 1000 word essay
+ Details at our free college scholarship search site

Jobcast
+ Again, going with a bit of a re-tread, since the original is more or less unlistenable
+ Top 6 Tips for Job Hunting
+ 1. Unique selling proposition. What is your personal brand? What sets you apart from the rest of the crowd, makes you different, unique, and better? Understanding and building your personal brand is the most important thing you can do, because all of the rest of job hunting is communicating that personal brand. If you can’t tell someone the essence of who you are and why they should hire you in one or two text messages, you need to sharpen your pencil. For example, mine is - I awaken the superhero in you.
+ 2. Job hunting is first and foremost a sales activity. The product you are selling is, not surprisingly, you. The only difference is that the product - unlike sweaters, computers, or cars - can talk a customer out of the sale as easily as you can make the sale. Thus, you need to develop good sales skills in order to help prospective employers understand your real value. How do you develop good sales skills? Lots of training. Take a look at Zig Ziglar’s book, Secrets of Closing the Sale, to understand how you can position yourself better. You can get it on Amazon.
+ 3. Job hunting is a numbers game. Assume the rule of 10: for every 1 job you land, you will need 10 interviews. For every 10 interviews you land, you will need 100 valid applications. For every 100 applications you land, you will need 1,000 good leads. If you want to consider two or three offers, you need to send out two or three THOUSAND resumes. How? That’s the joy of email. Focus on sending out at least 25 - 30 emails a day with your cover letter and resume.
+ 4. Job postings are a hidden treasure mine. Keep this in mind when you surf Monster.com and other job boards - a company generally will only post for positions it is most desperate for - enough to pay money for. That tells you two things: One, the company is serious about hiring. Two, the company probably has more than one position open. Consider applying for jobs at companies that meet your geographic and industry needs but don’t necessarily have the exact position you’re looking for. This is one of the best kept secrets in recruiting!
+ 5. Followup is the name of the game. Respond politely but clearly to EVERY response you get from your solicitations. A company may not have a job for you now, but might in two weeks, two months, or two years. Keep a record of those companies that respond with something other than an auto-reply, and touch base with your contacts every month or so. Be polite and non-intrusive.
+ 6. Positive mental attitude. Nothing will fail to sell a product faster than a negative emotion about it. Don’t give people a reason to discard you immediately. Project a positive attitude, even if you feel anything but.

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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Direct MP3 file download: Click here to download the MP3

Reminders
+ Student Loan Network $10,000 Scholarship - Apply in 32 seconds or less!
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Grad student? Get graduate financial aid information at the GradLoans.com blog!
+ Stafford federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Technorati Tags: financial aid financialaidpodcast