I don't mean for my post title to sound negative. Most students and parents actually look forward to winter break  – especially that first year. Students want to eat some home cooking, sleep in their own room, and catch up with old friends. Parents can't wait to hang out with their kid and appreciate how he or she has grown up after a semester away.

But let's be honest — it's hard for college students and parents to live together again.

College students are notorious for staying out late, sleeping in, and leaving piles of dirty towels on the bathroom floor. Parents are notorious for thinking college kids should act like adults, but still have a curfew.

Eventually, it becomes a problem.

The fact is, you both have to grin and bear some things. Parents, you're not going to re-set your college kid's clock. She's up late, she sleeps late, that's the way it goes. Students, your parents are wired to worry about you. Respect that, and agree to some kind of curfew or calling system. 

And parents, about those dirty towels? Don't fight it and don't bother washing — just smile, re-fold and put them back in the linen closet. (A sense of humor goes a long way over a month's break!)

What do you think? Are there better ways for students and parents to get along over breaks from school?

Editor's note: The Student LoanDown team is taking a short winter break of its own, albeit with clean towels! We wish you all very Happy Holidays and will be back the week of January 5.

Posted by Caroline at 10:00 AM |  Contact Caroline |  Permalink  |  Comments (0)
Found in College, Holidays, Parents, Preparing, Wells Fargo Bank

Holiday time means once-a-year kind of treats — lovely baked goods, tins full of popcorn, and candies galore. Everyone has certain foods without which it just wouldn't feel like the holidays. For me, it's hoska , a Czech bread that my sister makes from our grandmother's recipe. That's always been a family tradition.

Since moving to Sioux Falls, some new holiday treats have become somewhat of a tradition for me. Specifically, a recipe that Staci recently bestowed on me — her mother's party mix.

There are lots of types of party mix , but this was the best I'd ever tasted. This is my third December working with Staci, and each year the mix has made a brief appearance at the office. Brief because it's so good, it doesn't last long! This year, I decided I would be able to control myself with the recipe and not eat the entire batch in one sitting. So, I asked and received.

Now, I knew the basic ingredients — various cereals, pretzels, and assorted nuts. What I didn't know was the cost to buy those ingredients. Let me tell you folks: Nuts are spendy! I went with Staci as she stocked up to make her own batch and was not prepared for that price tag. Maybe I wouldn't be making my own!

I decided to try my hand at making the mix. But instead of following the recipe verbatim, I made some budget-friendly alterations, dubbing it "Poverty Party Mix."

First, I scrapped the nuts. They're not my favorite part of the mix anyway, so I could live without them. Next, I went generic. Crispix^®?  No way, Hy-Vee^®  Crispy Hexagons all the way. Cheerios^®?  Not so much. Hy-Vee^® Tasteeos work just as well. For full disclosure I did buy Kix^® , but only because there was not a cheaper generic equivalent.

So how'd it turn out? Fantastic! No one can tell the difference between the brand-name and store cereal, and the nuts weren't missed.

Feel free to share any other budget-friendly holiday treats. I should probably expand my palate past the party mix!

Oh and if you're curious about the recipe, here you go: Melt 3 sticks of butter in a roasting pan at 250 degrees, then mix in the cereal and add garlic salt to taste. Bake uncovered for an hour and a half, stirring and seasoning every 30 minutes, and presto, you have garlicky, buttery goodness to make the season a bit brighter!

Posted by Barbara at 11:45 AM |  Contact Barbara |  Permalink  |  Comments (1)
Found in Budgeting, Financial education, Holidays, Money management, Paying, Preparing, Saving, Wells Fargo Bank

They say it's best to move every ten years or so in order to manage the clutter that builds over time. When you are in college, it seems like you are moving a lot. I certainly was, especially around the holidays.

At my college, we had to move out of the dorms and the sororities over the winter break. Friends with trucks and apartments with comfy couches were in high demand. I fondly remember a time when everything I owned fit in the back of my Subaru Forester .

I recently had to move out of my cubical to make way for new carpet being installed in our office building. Turns out, the same principles apply at work when you move. I had only been occupying my space in the cube farm  for four years but managed to fill half a shred bin of old files and stuff I kept just in case.

It felt marvelous re-organizing my paper clips and push pins, sorting them back out to their proper divided space in the top drawer tray. And even better, properly filing things I casually jammed into my bottom drawer (AKA "The Black Hole") when there just wasn't time to bother.

I love being organized.

For those of you preparing to move (yet again) in the next couple of weeks, I have one piece of advice for you: Get some Scotch tear by hand tape . It's amazing — so much easier than working the tape gun monster .

How about you? Are you required to move out over winter break?

Posted by Rachel at 08:30 AM |  Contact Rachel |  Permalink  |  Comments (3)
Found in College, Housing, Looking back, Moving, Post-college, Preparing, Wells Fargo Bank

Recent grads, have you made your first student loan payment?

If not, it's coming. The six-month grace period of Federal Stafford Loans is ending for May graduates, which means it's time to repay.

Here are a few ideas to start your repayment off the right way:

1. Pay on time. One of the best things you can do to build your credit history and stay on good terms with your lender is to make on-time payments. Stay on top of due dates by managing your loan online. You can even make it simpler by signing up for automatic payments.

2. Pay more. A little extra can go a long way when it comes to saving money over time. Each dollar you pay in addition to your minimum payment means one less dollar to pay interest on. The savings can really add up.

3. Consolidate. If you want to make one student loan payment to one lender instead of several, you can consolidate your federal student loans through the government  and private student loans through lenders like Wells Fargo. Plus, there's an added bonus to private student loan consolidation: You may qualify for a better rate than you had on previous loans if your situation has changed.

4. Talk with your lender. We know some borrowers may have trouble repaying. The important thing is that you talk to your lender about your options. You may qualify for a deferment or forbearance. Or you may be able to pay on an income-sensitive, graduated, or extended schedule.

For those of you already repaying your student loans, what tips do you have on starting repayment on the right foot?

Posted by Barbara at 08:50 AM |  Contact Barbara |  Permalink  |  Comments (1)
Found in College, Consolidation, Federal loans, Financial education, Interest rates, Lenders, Money management, Paying, Post-college, Preparing, Private loans, Refinancing, Saving, Student loans, Wells Fargo Bank

Have you gotten a flu shot  yet? My kids and I have. I got the flu — and I mean the real-deal, down-and-out-for-a-week flu — nine years ago over Christmas, and I will never forget it. Any illness that sticks in your mind for almost a decade is something you don't want to get  again!

I recently heard a story  on NPR about how getting the flu can be costly for college students. The gist of it is, if you get sick and are out of classes for a week or more, it can possibly shipwreck your entire semester.

Certainly flu shots are not without controversy — just check out the comments connected with the story link above.

So, what do you think? Will you be getting a flu shot this year?

Posted by Caroline at 10:46 AM |  Contact Caroline |  Permalink  |  Comments (3)
Found in College, Preparing, Wells Fargo Bank