It's hard to avoid all the bad economic news 
these days. College students, I wouldn't blame you if you're nervous about leaving the safe confines of campus. The real world isn't looking too inviting these days.
So with a rough economy, are you considering grad school as — and forgive me as I pull from the headlines here — a bailout plan?
I found a great story on NPR on this very topic. It pretty much confirms my opinion on the subject: Going to grad school just to ride out the bad economy or because you don't know for sure what you want to do is not such a good idea.
However, if you do know what you want to be when you grow up, and grad school is a means to get there, then certainly, go.
I know it often feels like the smarter choice to stay in school rather than graduate with a bachelor's degree , only to find yourself still working at a coffee shop or taking some other job that doesn't require a $75,000 education.
But the truth is, if grad school is just a chance to bide your time and figure out your goals, then you're better off getting a job — any job — than taking on more debt.
What do you think? Is the state of the economy impacting your choices as you prepare to graduate from college?
Caroline: As an alternative to grad school, I'm exploring taking fifth-year professional courses to see how well I can adapt to being back in school after many years. The state of the economy is definitely causing some worry and uneasiness; I already possess a BA but am not securely employed. I just submitted my FAFSA to see what finance options may be available; I might be able to get a limited amount of "worker retraining" funding from my state if I meet certain requirements. Taking the fifth-year curriculum may be a good confidence builder before jumping into a formal grad program. Any suggestions?
Hi Ronald -- thanks for writing to us. You're smart to explore new options, since you're not securely employed. Have you been looking for another job as well? Is it possible to find a job where your employer might pay all or part of your graduate school expenses? Even jobs that are below your skill level are worth considering if they offer this benefit. One thought about the professional courses -- would they alone help open up more career opportunities? Or could those courses be applied toward a graduate degree if you decided to move ahead with a formal program? Just a couple things to consider before investing in such courses. It sounds like you're on the right track. Keep us posted!
I am writing to express my extreme frustration with the Wells Fargo student loan application process agents. I sent my federal financial aid award letter as proof of my registration in the program and was told this was inadequate.
Despite explaining three times to three separate agents that the top 10 MBA for Execs program that I attend does NOT send term schedules nor bills that WF requires as proof of my enrollment. Today I was instructed by a rather snide, unhelpful, robotic agent to, "ask the school" for a letter with their letterhead that confirms my enrollment. I work fulltime and study nights and weekends. This request is an extreme inconvennience. Funny how you would accept the federal government's bailout money, but not their actions (on the school's letterhead I might add) that demonstrates their trust that I am indeed in the program. BTW I told the first agent that the govt financial aid award letter was all I had (and was told that was acceptable documentation).
During a time when banks are desperate for business with people who have high credit ratings I find your customer service deplorable.
Too bad the greed that enabled you to overlook sub-prime lending is now punishing busy, honest, hard working people.
For those of you considering a loan with this company, think again.
I'm sorry that you've had a frustrating experience--we will pass along information about this miscommunication to our call center to hopefully avoid situations like this in the future. If you would like to email us through the "Ask the Expert" function with some more detail, we can look into your situation further.
Just to help clarify one point--the "government financial aid award letter" you recieved is actually sent by the school. The reason it's not considered proof of enrollment is because many people do receive financial aid awards that they do not use. It simply isn't acceptable documentation of enrollment, only that you were awarded aid. I apologize for the misinformation you received on that point.
Again, I hope we hear from you and are able to help rectify your situation.
My daughter purchased a vehicle when she was 19 years old. She is now 21 and after several months of unemployment she is again working - although not full time. Her car laon is with Wells Fargo. She nmanaged to stay afloat until 3 months ago. She is trying to rectify the situation and not run from her obligations, unfortunately Wells Fargo does not see it that way. They will not allow her to make her regular payment and add a portion of the past due balance to that payment until all is satisfied. They told her as well as I ALL OR WE TAKE THE CAR! I have been trying on daily basis to keep a open line of communication with them on a daily basis but these are the ruddest people I have ever encountered.I certainly hope that each and every person who works for them finds themselves in the same situation as my daughter is in - lets see if anyone will help them. Also, did we the people not help them in the bailout program - if so. they need to help us!
actually wells fargo didn't take any bailout money... and secondly the people your daughter is dealing with is collection people... they are always like that, it's their JOB to get the money. jeeez. people are seriously so dumb.
Cindy -- I'm sorry to hear you've had a bad experience. If you would like to email us with more details through the "Ask the Expert" function, we can pass along your information to the people in Auto Loans, and hopefully open a better channel of communication.
actually wells fargo didn't take any bailout money... and secondly the people your daughter is dealing with is collection people... they are always like that, it's their JOB to get the money. jeeez. people are seriously so dumb.
Posted by: stupidity is everywhere! | January 20, 2009 07:52 AM
_____________________________
Thats funny, wonder why Wellsfargo issued 25 billion of preferred stock to the treasury.