Posted On: 2005-09-06
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Long weekend, it is Tuesday September 6, 2005. I don't know why I keep calling it August 6, when it's clearly September, I woke up this morning ran out the door and it wasn't hot out, which was surprising, I could actually see my breath so it was very exciting. All right, we've got a great show today, we've got a lot to talk about let's start off of course with the donor roll call, this is from yesterday, September 5, 2005. Katie Martinez $25, anonymous $50, Teresa Urbrose $50, anonymous $50, Cathy Caprono and Family $175, Valerie Efficate $50, and Roots, Rocks, and Stars Covenant $100. Thank you to everyone who has donated and been a part of the relief effort if you haven't already e-mailed me about your donation please do so, so that I can post it up on the website and make sure you get credit for it, the e-mail address is firstname.lastname@example.org. If you have any feedback, any comments, anything like that also send that my way as well, you can e-mail it to that address, it's got 2.5 GB of storage space so there should be plenty for just about anything.
Let's go ahead and tackle the news right now inside Higher Ed reports that colleges are taking additional steps against term paper selling online. Specifically looking for term papers that have been purloined from universities are being re-sold on the internet for students to download and use as their own term papers. According to the article colleges are now starting to try to enforce copy right protections by pressing law suits against term paper companies for materials that were stolen from the college that is to say re-posted for sale without the original author's permission. Which is of course perfectly valid, enforcement of copyright law. The funniest part of the article of course is a comment by one of the instructors at the University of the Mid-West who reports, "that the hilarious news that the papers I have read from the online services are bad. I mean really, really bad. I mean C or D level, lease papers in college, so for the few students that bought these papers and turned them in, do so poorly and can't even go back and fight for a grade, because they have been ripped-off and they really have no means of recourse."
In other news on campus expenses, MBS Textbook Exchange is now offering electronic textbook to students as a means of reducing the cost of textbooks. Shane Gurton, Associate Director of the University of Utah Bookstore said, "Students have expressed some excitement at the prospects of books that are 10% to 15% cheaper than even the used books that the school store sells." The downside of course as there always is a downside, the books can only be used on the computers in which they were downloaded and at the end of the semester the books expire, which means you can no longer access them. You are essentially paying for two-thirds of a book that you can not keep and you can not re-sell, you can not redeem at the end of the semester for any value which is of course an major option to concern. When I was in college, the Textbook Store on campus always redeemed textbooks that were used for a 5% to 10% of face value, so I ended up keeping most of mine and actually, I've actually got back and used some them, so this online service for purchasing you textbooks that expire at the end, assuming someone doesn't hack it, which they probably will is probably not nearly as good a value as it would seem in the long run. Unless the books are not particularly good books, you may end up keeping them and using them someday, you never know.
All right it is time now for some Podsafe music today we are going to do a couple of selections from Paperboy Jack, let's off with "Never Enough,' by Paperboy Jack from the Podsafe Music Network.
Great new Podsafe music there from Paperboy Jack, you know that last segment got me thinking that if you a college student or a college graduate with a lot expertise in a particular field, you've spent a lot of time on it. There is a real business opportunity for you in terms of writing term papers or writing documents and things like that, that would be really incredibly high quality, well researched, and well thought out papers. It wouldn't have to be the entire paper, if you were in a business which would sell basically chunks of information that could be self contained, some are self-contained but be useful to students that would be, I would think a legitimate business to offer. Especially when you consider that the vast majority of putting together a paper is really doing just a ton of leg work; if you had well researched, well documented chunks of information, you could use those in a paper and tie it and the paper together. Your opinion or thoughts which is really what you are looking for at least in the major that I went through which is Political Science and then back that up with the chunks or the pieces that you would get from a term paper service. I think that would be a little bit more legitimate than just buying a whole term paper out right; especially if you were asked to defend it. Colleges, if colleges were looking to reduce term paper, I guess purchasing or term paper cheating, I don't know if I would call it cheating, because you are essentially turning in a document; one way that they could certainly reduce the usage of these things is to actually have students defend their papers. Not to the extent that it would a doctoral thesis, but to take a paper, even a selection of papers just from a class and say okay, John you wrote this paper about The Invisible hand of Capitalism and Adam Smith so you made some interesting points here, one of the points that you made was about how the invisible hand really doesn't work, well, explain that in context of the October 19, 1929 market? If the student clearly hasn't done any of the work themselves at all, they just bought it and they slept through entire semester, then its going to be pretty apparent that you can probably not give them a pass on that paper. Even if the paper is reasonably good quality, but if the student clearly has no knowledge of what it is they've reported written, it would be pretty apparent. Just an additional thought from both sides of the fence out there.
All right, let's do some mail call. We've not had a mail call in quite some time because a lot of the questions coming into the mail bag were simply about applications status now that college is under way and a lot of people have gotten their accounts taken care of that seems to be slowing down and getting some more legitimate questions, well not legitimate questions, one they know the status of account is certainly legitimate question but getting some more interesting questions in the mail bag again. Let's start off with Lily Drakur who asks, I am a citizen of the U.S. and graduated from college here in the U.S. in May of 2005, I was planning to go to graduate school abroad in Santa Domingo, Dominican Republic. I would like to find out if it is possible for me to take out a Stafford Loan to pay for education abroad? The short answer is No, unless the school is titled for a certified school. That would be certified by the Department of Education which generally speaking does not certify overseas schools there are a few exceptions to the rule, the exceptions are schools that have a sister school in the United States or schools that have applied for the Charter and have been accepted. There is a couple in the U.K. that I can think of, but generally speaking, No, the title four schools are U.S. based almost exclusively. If you are looking for financial aid for oversea schools check out and see if a Private Alternative Education loan would fit the bill if the school is say, Terry Certified or certified by another private loan lender. The best way to do that is to check it out on www.alternativestudentloan.com, there is a school directory and if the school is certified, then you can take out a private student loan to pay for you education abroad. You can also check out www.studyabroadloans.com as well.
Bill Thesson asks, how does a driving school provider receive a loan from students who want to become tractor trailer drivers? It depends on the type of loan program you want to offer. If you want to offer a Federally Certified Loan, you need to apply for a title for certification from the Department of Education, and that is a fairly extensive lengthy process. It's basically a audit of the last three years of your schools performance, seeing what your default rate is for any kind of loan program you already offer, checking into your financials and things like that. You can apply for it, you can get more information about by going to the Department of Education's website at www.ed.gov, you can also apply for a private student loans certification as well. Private student loans are offered through a variety of agencies including TERI, you can find out more information by going to www.atlernativestudentloan.com and looking for the "information for financial aid professionals," link on the right hand side of the page. That is the link to the certification process for private and alternative student loans and will certainly get you squared away.
Finally Mark Pearl writes in to say, we just receive word that we are eligible for un-subsidized Stafford Loan but do not know what the current interest rate for pay back is for the present time. We realize the rate is variable, please let me know. Well, there are two rates for Stafford Loans if you are in school or you are in your grace period, the rate is 4.7% that is T-bill plus 1.7. The T-bill, the most recent auction in last May was 3%, so 4.7% there. If you are in repayment on your Stafford Loan, you've graduated, and you are out of your grace period, the rate is 5.3% and that is T-bill plus 2.3. Those are the rates for Stafford loans and that will be mail call for today. Let's move on to more Podsafe Music Network, now we are going to do a selection from My Little Radio, called "Drive through Diary."
New Podsafe music from My Little Radio, "Drive through Diary." All right let's finish off today's show with a scholarship update. Today's scholarship update is not going to be a specific scholarship it is going to be scholarship searching technique. If you have not subscribed to our feed, you should because you will get the free Scholarship Searching Secrets Guide which is a 10 page electronic book about how to search for scholarships online. Today's scholarship update is a supplement to that. Today's Scholarship Searching Secret update is the Google Wildcard. If you don't know what a WildCard is, it is essentially a searching parameter which allows you to substitute any result in the space that you provide. What this means for example, let's say I wanted to search for scholarships in Boston. I could do just scholarships in Boston, or I could also type in Boston space asterisk space scholarship and this will give me scholarships that are in Boston, but have the word Boston in their title but also anything in between the word Boston and scholarships. So if I was looking for a Boston Athletic Scholarship that would come up, if I was looking for Boston International Scholarship, that would also come up because the "star" the asterisk in the search query brings up the relevant, any keyword in between those two anchors the Boston Scholarship. If you are a student who is a football player, you want to look for football scholarships but there are all sorts of different ways you can write football scholarships so you can try, football * scholarship and that is today's Scholarships Searching Secret update. Stay tuned as we-we're going to publish a supplement to the Scholarship Searching Secrets Guide, probably within the next couple of month, so if you are not subscribed, get subscribed to, it is really easy just go to www.financialaidpodcast.com and there is directions for how to subscribe.
Let's finish off with one more Podsafe music selection.
That was Whitney Steele from Podsafe Music Network with her song "Crazy." I'll be honest I got the artist recommendation from CC Chapman's Accident Hash, one of the things I like to do is to listen to other podcasts and see what artists are being played and see what else they've got in stock. Whitney is certainly is excellent artist, good recommendations. If you don't tune into Accident Hash and you like rock music, definitely check it out at www.accidenthash.com. Well that is going to do it for today's show, tune in next time we are going to do some more scholarship updates, some more news, possibly some more mail call, now that the mail bag is getting interesting again. Also, if you haven't donated, please do so; a list of charities-well you know let me play the promo here hang on. This is Chris from the Financial Aid Podcast with a message about Hurricane Katrina. Thousands of people need your help right now and in the month's to come as the Gulf Coast recovers from this storm. There are plenty of ways you can help, if you can spare money, frequent flyer miles, company stocks, or volunteer your time, there are organizations that will make the most of your generosity. Such as the American Red Cross, excepting money, frequent flyer miles and stock, www.redcross.org or 1-800-HELPNOW. The Salvation Army excepting money, and volunteer at www.salvationarmyusa.org or 1-888-SALARMY. Second Harvest, accepting money, stock, mutual funds and monthly giving plans. If you are financially able to setting up a long term fund is a wonderful way to continue giving in the months to come at www.secondharvest.org. or 1-800-771-2303. Habitat for Humanity, accepting money and volunteers www.habitat.org. No matter which avenue you choose, please give generously even after the media has moved on to the next big story, your gifts will help re-build lives. Thank you for your help. And there you have it, all right that is going to do it for today, thanks for tuning in, stay tuned, stay subscribed, if you are not subscribed get subscribed go to www.financialaidpodcast.com if you are looking for the show notes for today show they will be at www.financialaidnews.com/blog. Until next time, take care.