How to Deal with Outstanding Student Loans

Student loan debt is so bad that it’s now considered a crisis, with over $1.5 trillion owed among 44 million borrowers in the U.S. alone. These astronomical numbers are second only to mortgage debt and a number of students are suffering with the burden of paying off student loans well into adulthood.

People who graduate with student loans are often trapped in a vicious cycle of constantly being in debt because of an inability to keep up with payments. Even if a student manages to find a job right after graduating, the income alone is often not enough to keep up with student debt as well as the standard cost of living (especially when rent is high). In turn, young adults resort to relying on credit cards to pay for basic things like food, transportation, internet, etc., pushing them even further into debt.

Student loan

So what can be done to offset the burden of student loans? While there are options out there, you’re going to have to do a little leg work to find them.

Debt Consolidation

Instead of paying off all of your loans from multiple creditors and at different interest rates, you can consolidate your debt into one single monthly payment. The Credit Canada debt consolidation program is a great option for people who need a helping hand when it comes to managing their bills and money.

You’ll work with a certified Credit Counsellor who can combine all of your unsecured debt into one monthly payment. They will also negotiate with your creditors on your behalf to either stop or lower the  interest on your debt. From there, they will work with you to create a plan with a specific end date as to when you will pay off everything you owe.

The goal is to create a repayment plan where you pay off your debt rather than just paying the interest on your debt. With a lower or zero-percent interest rate on your debt moving forward, every payment you make goes towards paying down the principle rather than just covering the interest. This is extremely helpful for people who have more than just student loans to deal with because managing other debts can make paying off your student loan much easier and more manageable.

Budgeting

A number of students are familiar with living on a budget, and it’s something that many adults are going to have to keep up with if they want to pay off their debts. There are a number of useful tools out there for building a budget that works for you, but the most important factor is that you stick with it. Easier said than done, but a budget is the number one way to pay off your debt and secure money for yourself in the future.

Hold off On Major Life Changes

While it’s not something anyone wants to hear, a number of young adults are holding off on major life events like getting married or buying a home in order to save money. With the average cost of getting married sitting at over $30,000, it’s no wonder that couples hold off from tying the knot. Buying a home and settling down to have children is even more expensive, so it’s best that you have your debts in order before even thinking about making these huge financial commitments.

Despite the grim picture, there’s light at the end of the tunnel. Keep working towards your goals and you’ll eventually get there.

Top Affordable MBA Programs in California

Are you interested in taking your career from an executive to a management level? MBA prepares you for jobs requiring leadership and management skills. There are numerous MBA programs available in California for both working and non-working students.

Here are the top affordable MBA programs in California.

1. Abraham Lincoln University

Abraham Lincoln University offers an accelerated, one-year, Master of Business Administration (MBA) program that provides a stage for young graduates to learn and experiment with various principles of business. This program has two specialization options: Finance and/or Human Resources Management.

2. Brandman University

Brandman university

Brandman University offers one of the best MBA programs in California. What I like about their program is that they have made it so flexible that you can add and remove subject as per your needs. Students from Brandman University get hired on-campus by organizations like Anthem and Oracle.

3. Pepperdine Graziadio Business School

Pepperdine Graziadio Business School is located in Malibu and offers a full-time MBA program. You can earn your MBA from any of the 12, 15, or 20-months programs. By doing your MBA in disciplines of your choice, you can begin your professional journey right from the get-go. You don’t have to wait for the right job that will provide the right opportunities for you to learn.

4. California Baptist University

MBA programs by the California Baptist University are accredited by ACBSP. Moreover, they have programs for one and two years in concentrations like Accounting, Aviation Management, Healthcare Administration and Management. The entire program costs around $28,000 which is quite less compared to other colleges of similar stature.

5. Marshall School of Business

The Marshall School of Business comes under the University of Southern California which is California’s oldest private research Universities. You will be surprised to learn that an amount of $687 million was dedicated to sponsored research by this School.

6. Bethesda University

Bethesda University is located in Anaheim. They offer two MBA programs: One with pre-requisite training and another without it. They offer programs with disciplines such as management, accounting, finance, marketing, operations, and leadership strategy. If you already are good at analytical and strategic thinking, you need not go for the prerequisites training.

7. California State University (CSU) – San Bernardino

CSU offers a traditional, online and professional MBA programs. You can opt for a traditional MBA if you are unsure about which subjects you are interested in. This program focuses on core management and business subjects. While the professional program is for people who have work experience in a particular field like engineering, medical science, chemistry, etc.

8. Santa Clara University

Santa Clara University offers several business and management courses for students from different walks of life. They also have some good part-time MBA programs like the Executive MBA and the Evening MBA. To apply for the Executive MBA, you need at least 10 years of working experience.

Conclusion

Finishing an MBA from a reputed University not only guarantees a secure job in a major organization but also gives you a chance to start your own business. Investors are more likely to take your business idea seriously if you have an MBA. As you would already know Silicon Valley– home to many start-ups and global technology companies– is also located in the state of California.

Will a Consulting Firm Pay for Your MBA?

MBA stands for Master of Business Administration, it’s a type of degree taken after the successful completion of a Bachelor’s and it’s a choice for postgraduates who would like to be credited for having mastered their business studies. It’s one of the most highly-respected and sought-after degrees in the world due to its practical nature and use in the real-life workplace.

MBA

Generally speaking, students studying for an MBA will not only learn the theory but also the practical application of the principles surrounding the management of business, which can be applied in real-world business environments and situations.

There are different categories which apply to MBA degrees, and it’s worth noting these can also be studied either full time or part-time (also known as evening or weekend classes). These degrees can be studied full time or part time respectively, the latter of which allows students to work and earn money at the same time and, almost akin to an apprenticeship, part-time MBAs are a great option for those students that have been sponsored by their employer to study an MBA.

Consulting firms that will pay for your MBA

Arguably, the industry in which an MBA is integral to their functionality is consultancy. Consulting firms offer specialist advice to various types of industry, which can be business, education, politics – but on the whole consulting firms help with core integral aspects of business functions like IT, customer service, and so on to become as efficient and profitable as possible, within the limits of that business.

This means good consultants are necessary to the success of such firms. And, to be a good consultant, you need good skills and qualifications. It’s important that consultants know exactly what’s going on within their chosen industry sector, from knowing at a technical point what the leading cutting-edge software is, to more intuitive points like understanding what the competitors are up to in their customer service policies.

Because of this, many consulting firms are happy to pay for part or 100 per cent of the tuition fees for those who want to study an MBA to go on after graduation to become a consultant at their company.

Generally, if your employer is paying for an MBA, you are contractually made to stick with them for at least 2 years following graduation (so they can get back some of their ROI)

There are multiple universities that offer this option, from Columbia  university to Hult International Business School, it would be a good idea to check out the modules of the university you’re thinking of studying with to see which would be a good choice for you, as these vary, alongside the methods of teaching and university campus ethos’.

Why consulting firms pay for MBAs

Most consulting firms will pay for MBAs to ensure their consultants are of top-quality. If this is the case, they’re going to do a good job, and thus make the consulting firm do a good job, leading to more business and greater profit for everyone involved overall in the long run.

Consultants on the whole, alongside formal training, have specialist expertise in their chosen field of industry due to years of real-life workplace practical application.

In other words, a company that runs an e-commerce site for example, may be struggling to attract the attention of their target market. A consultant would then be hired. This consultant would have had years of experience at marketing an e-commerce site towards a particular customer profile and converting these into real sales.

The consultant would have also gotten further training with the theoretical approach to this with the help of qualifications in business, from any institution, though one which specializes in business would be the first choice as it is an institution specifically aimed at priming students for success in the world of business.

Pros and cons of subsidized MBAs

Like all things in life, there are pros and cons in taking an MBA which is paid for by a consulting firm. In terms of pros, it’s a great first step into the world of consulting, and you don’t have to pay for it yourself with your own cash, and you’ll be debt-free.

On the other hand, this makes it more of an obligation to ensure you get the MBA, which could lead to more pressure than studying for other kinds of degrees on your own accord. Though, overall, the payoff would be worth it.

To find out if a consulting firm you could work at will pay for your MBA, it’s worth checking out hashtags on social media, as there are usually firms that promote when they any have available opportunities.

MBA Application Essay Writing: 8 Key Points to Mind

writing

In 2018 MBA essays can be looked upon as a variation of the elevator pitch. Why? The student has two objectives when preparing an MBA essay as part of the admission. Which are; One, it a way of persuading the admission officer that you are worthy of joining the institution. Two, you need to bring your MBA application to life by making the admission officer aware you aren’t just another “standard student.” It’s a way of sharing your credential using words with an officer whose decision may be a turning point of your life.

Writing an MBA application essay is easier when said than done. Every student looking to enroll in an MBA program is expected to be able to write an essay proving to the admission officers they are worthy of the slot. The essay should clearly show how your application is unique and what differentiates your form another applicant.

The institution is looking for the best, as they want to see how the program will add value to you and the MBA class as well. Below are key points to remember when writing an MBA application essay.

#1 Start Early to Familiarize Yourself with The MBA Essay Writing Process

The MBA essay writing is a gradual and progressive process that provides sufficient time to refine and fine-tune the essay. You are advised to start early. This allows enough time for introspection. The list down the ideas as and when they come up. You will be in the right state of mind, and you can choose the best time to be creative, focus and concentration. This would help generate the maximum output.

Take time to brainstorm on specific areas of your profile that can help you bring additional thoughts.

Once you got the basic idea on paper, give it a structure. This can be achieved by preparing an outline.

Next, organize and manage the idea flow. Always be genuine and base the essay on facts with supporting evidence where appropriate. Let the essay reflect your enthusiasm, passion, and excitement for joining the MBA program. Lastly, the essay should be in line with your resume and recommendations by completing the bigger picture not repetitive.

If you are sending the application to more than one institution, the essay should be different. And customize each application.

#2 Common MBA mistakes to avoid

An essay is supposed to introduce the applicant as an individual by showing their uniqueness when compared to the rest. Quite some applicants have been seen to apply full of typos and grammar errors.

#3 Avoid plagiarisms

Although this not a big issue at this level, if the essay looks like its copied, the individual receives an automatic rejection.

#4 Use essay writing tips

Take the time I think of the fundamental questions. Self-evaluation to find your professional strengths and weakness. What is the MBA helping you achieve? What are your plans after graduation? A clear plan shows a compelling picture of where you are, where you have come from and where you’re headed.

#5 What admission officer looks on an essay?

An MBA essay should be authentic. The applicant must stress what makes them unique. The essay also evaluates if the applicant communicates specific reason why they are fit for the institution.

MBA red flags

  • Plagiarism-part or entire essay copied.
  • Many typos and grammatical errors
  • An applicant forgets to change the school name after using the one essay for several applications. Understand the essay prompts.

MBA application essay may need for a long essay or multiple shorter essays. Each institution has its requirements, so read and understand their essay prompt carefully. In the essay focus on the primary question. Instead of listing down your ideas, be more descriptive and get into specifics. Dig deeper in various occasions and difficult situations you have displayed unique traits showed motivations and leadership qualities.

Include all your extracurricular involvements and aspects such as volunteering for a non-profit. Some of the question the essay prompts ask:

  • the ‘why MBA now’ question.
  • ‘why this school.’
  • Long-term and short-term career goals.
  • Career failure essay.

#6 Evaluate and demonstrate your fit with an MBA program

What does ‘Being fit for an MBA program’ mean? The who MBA exercise would prove to be a colossal waste of time if after a cough out around $200,000 on the MBA program end up being a cultural eccentric or realizing that the institution wasn’t the right one to help you attain yours after MBA goals.

It’s essential you undertake extensive research about the school, read about how to fit an MBA program will benefit you.

The ‘right fit’ institution is different for each based on various considerations including your academic profile, recent career profile, your GMAT score as well as the extracurricular involvement.

#7 Respect the word count

It’s severe to consider the essay word counts as you are expected to respect the word, but some school allows for a slight variation. When writing your MBA application essay don’t under-utilized the word count as the reviewer m fee you don’t have enough to talk about.

In the essay avoid repeating any fat that you have already written in your resume or recommendations. The essay should be as concise as possible. Also, edit for grammar and eliminate excessive usage to shorten the length of the essay.

#8 Get your essays reviewed and edited

To review and revise the essay, ready it as many times as possible. Even so, it’s not unusual to develop blind spots. Let somebody else read your essay, as that helps in a review of your work. You will also gain a fresh perspective while identifying gaps or missing elements in your story. At this level put your right foot forward and hope for the best with the MBA application. If the process seems too complex to manage, you can quickly get some help by finding the best MBA essay editing services. Among them is CustomWritings.com. Here, you can find professional MBA essay writers who are at your disposal 24/7. At a reasonable price, they will offer you the needed help in a timely manner. Whenever you face difficulties, contact them to support you.

Some Factors that Influence your Choice of MBA Program

 

MBA program

MBA is literally one of those courses which is done by millions across countries each year. It is like an unsaid rule for many that once you are done with graduation, you will go for MBA. While many people try to gain job experience and then take the plunge, there are others too who just get enrolled without this prior experience in the corporate world. Now, it is obvious that you be aware of the various types of MBA courses that exists. This is why you must now read ahead about factors that affect the choice of your MBA program.

  1. Duration of the course: Now, this is definitely the most influential factor which decides if you should take up a particular course or not. It refers to the time that you will have to invest in your university before you are able to get your final degree. While there are universities with just 1-year courses, there are universities which have a 2 year course. It also depends on the country that you are choosing. This is what you need to find out and then see if you are fine with it.
  2. Location: Sometimes, what happens is that there is a very famous MBA institute that you know of. When you read about them, you see that you have been able to meet all their conditions and you feel that you should apply. However, it then hits you hard that this university is only good for MBA in finance but you wish to go for MBA in HR. this is where you need to see if you will go for the tag of the university or what is actually taught. It is a tough decision that you need to make so it is recommended that you get in touch with ex-students of the course.
  3. Curriculum: It is a myth that people feel curriculum only refers to the subject that are taught. No, curriculum actually refers to the subjects taught as well as the co-curricular activities. The curriculum of a university refers to the totality of student experiences. This is what you need to keep in mind when you find out more about the course, the electives offered, the extra activities that you can do and the opportunities for sports. Everything together sums up your decision.
  4. Networking opportunities: Lastly, you must be able to get excellent networking opportunities. Networking is one of the most highly valued benefits of doing MBA. It opens up a whole world of opportunities for you. This is why you must pick a course and institute which has a good alumni hold and mostly top-class students apply there who will be able to help you develop and refine your skills even more. You must also weigh how important these relations will be in the long run and if they can help you with work later. The motive is finally to be able to make good money.

Handling the Dilemma of Repaying your College Debt – Tips & Advices for Students

Student debt

It is rather tough to deal with student loan debt, given the way it is ballooning out of control. Being a student, you must have been acclimatised with the student loan debt crisis that the nation is going through. Americans are recorded to owe a staggering $1.4 trillion in the form of student loan debt and this debt is more than all the car loan and credit card debt combined. 8 among 10 college students left colleges in 2017 with an average of $38,176 as student loan debt. In fact, as per reports from Federal Reserve Board Survey of Consumer Finances, around 20% borrowers owe more than $50,000.

There are many students for whom it is necessary to take out student loans as they don’t have the financial capability of funding their college and high school life. Whichever may be the cause, student loan debt is leaving the graduates in a state of mess and are forcing them drown in debt. What are the solutions? Is it possible to seek help of Northcash loans or other companies and trigger off your debt? Here are few suggestions from the experts.

Advice #1: Leverage the grace period of your loan

Based on the type of loan you have, your lender might offer you a grace period post graduation where you don’t require making any kinds of payments for the loan. During this time, avert the option of ignoring your debt. In case you’re blessed with the grace period, this is the right time to get a clear comprehension of the loans, set a definite game plan and then begin making payments.

Advice #2: Get to know your loans better

Even though you have crossed your grace period long back, the first step in dealing with student loans is to understand what kind of a loan you’re dealing with. You will find it easier to turn off your brain, continue with the minimum monthly installments and not give it any second thought. However, if you wish to make an impact, you should know the way in which the loan works.

Advice #3: Select the best plan for repayment

You could always have the option of selecting a better plan for payment like the Income Based Repayment Plan or the Pay as you Earn repayment plan. Such plans give you the discretion of making affordable monthly payments based on the income that you make in a month. You can also seek help of student loan consolidation in case you have difficulty in tracking your multiple loans.

Advice #4: Stick to a strict budget

Once you’re sure about the monthly payments that you have to make, you should instantly create a budget for the entire month. While devising the budget, trim anything that you can so that you could put more money towards the debt. Find out new ways of saving money.

So, if you don’t want to be caught within the trap of student loan debt which keeps soaring out of control with every passing day, make sure you follow the above mentioned advices shared by financial experts.