March 2010 Archives

People who know me would not be surprised that I chose a song from The King and I to title this post — I'm a bit of a musical buff. And it's high time that we knew more about you, our readers!

That's why we've compiled some questions to learn more about you and the experience you've had with the Student LoanDown blog.

Now, we aren't delving deep into whether or not you're obsessed with Rodgers and Hammerstein, but rather, how you're using our blog and what you like getting out of it. After all, we're blogging for you!

So when you have a spare minute or two, please click here  and take our reader questionnaire (You can also access it through the link on our sidebar). We're not gathering any personal information, so no worries — it's totally anonymous.

Thanks for helping us to get to know you better and hopefully better serve our readers!

Becoming more eco-friendly has been important in the Raus house over the past few years. Taking little steps like greening my food routine, transportation, and banking have been a priority for me.

This Saturday, I'm joining in an effort to raise awareness about going green (and saving a little energy while I'm at it): The Raus house is going dark for Earth Hour.

To participate you just turn off your non-essential lights for one hour, from 8:30-9:30pm (local time).

As I checked out the official website for more information (including this super cool video), I saw that local Sioux Falls participants included one college.

I'm curious: Is your school participating in Earth Hour? How about you personally?

BTW: If you want to learn more about Earth Hour and environmental stewardship within Wells Fargo, head over to the newest Wells Fargo blog, the Wells Fargo Environmental Forum.

Seniors, you've got some big tests coming up — even though the ACTs and SATs are behind you, and finals aren't until the end of the year. As the end of the school year approaches, you should be thinking about taking AP and/or CLEP tests.

If you're taking AP (Advanced Placement) courses, you're probably already planning to test out at the end of the course, for college credit. If not, I really suggest you give it a try. My stepdaughter took AP Psychology during her senior year of high school, and toward the end of the semester decided she wasn't going to take the test. It cost around $60, and she wasn't confident of passing it.

Her dad and I strongly encouraged — okay, insisted — that she take the test, and lo and behold, she tested out of her entry level Psychology course for her first semester of college.

And what about CLEP tests? CLEP stands for College-Level Examination Program®, and these tests let you receive college credit for what you already know. I remember taking CLEP tests during my college orientation — they helped me test out of an entry-level English course, and get placed in the appropriate level of math course.

There are actually 33 different CLEP tests, and passing them can save you lots of money. The cost of each exam is $72, likely much less than it would cost to take the college course. It's a good idea to check to see if you school accepts CLEP.

While the obvious advantage to taking AP and CLEP tests is to save money, another reason is because they might help your grades by allowing you to take a lighter course load during your first semester. I found that it was nice to start out with fewer classes while I got adjusted to the level of studying that was required in college.

So, tell us: Are you taking planning to take AP and CLEP tests? In what subjects?

Spending has been top of mind for me lately. One thing in particular that I'm noodling is the payment options I have for my purchases and why I choose a particular payment method. It got me curious about how other folks pay for things on a day-to-day basis.

So, I'm asking you! When it comes to your day-to-day purchases, how do you pay for the majority of them?

Do you prefer the quick swipe of a debit card? Is a cash system what works for you? Are you using a credit card to maximize rewards? Or is writing a check your method of choice?

Take our poll and tell us more about your payment routine through comments.

Lately, I've been a bit more on edge. My stress level is palpable. I'm going a million miles an hour, and for some reason I just can't seem to calm down.

And then there was a light bulb moment. While having a conversation with a co-worker about her recent lunch-hour trip to Banana Republic, I remembered what has changed: no more spending on stuff.

Clearly, over the years I have become a little dependent on buying things to lift my spirits when I'm tense. Yes, I, like many, have become accustomed to retail therapy. Now, I knew that I had a tendency to buy a new pair of shoes or home accessory from time to time without really needing them. However, I had no idea how much not buying those things could affect my mood.

So began my quest to curb my retail therapy habit. I had to find something to boost my happy factor without spending a dime. It's all about stress management, and here's what's been effective so far:

• Working out. A tried and true stress buster, exercise boosts your energy and your endorphins. The only caveat to this retail therapy remedy is my intermittent lack of motivation. But with ample opportunities to workout at or close to home it's a lot easier to make it a priority.
• Tickling the ivories. Last year, I purchased a digital piano. Yes, it was part of a stress-related spending spree, but in my defense it was a used find from Craigslist, not a full-priced indulgence. When I'm feeling overwhelmed, playing music has helped me escape. There's something really great about getting lost in a pile of sheet music.
• Tackling a home project. Now, I know what you're thinking. Projects around the house mean shelling out cash. Au contraire, there are plenty of projects I can undertake without spending. For example, a little closet organization or deep cleaning in the kitchen gives me the satisfaction of accomplishing something. Plus, it helps me feel like my world is just a little more put together.

Have any of you kicked the retail therapy habit? Tell us: What helps you resist the urge to spend when you're stressed?

Caitlin Grey is a senior at Alameda High School  in Alameda, California. For almost four years, she's been reporting and writing commentaries for Youth Radio-Youth Media International , a Peabody Award-winning youth-driven production company in downtown Oakland. She is very passionate about the environment, and is president of the environmental club at her high school. Caitlin recently traveled to Copenhagen, Denmark for the United Nations Framework Convention on Climate Change's Fifteenth Conference of the Parties as one of eighteen national delegates for the Sierra Student Coalition.  She enjoys writing, art, the outdoors, and music festivals.

Being a second semester senior is not nearly as exciting as I thought it would be.

Part of me expected the Monday after fall semester finals to be completely different — like only 4 kids to showing up to class, "NO HOMEWORK!" written in huge letters on the board, and incessant pizza parties. Instead, I was shocked by the fact that really nothing had changed at all. We had just as much homework in every class, teachers were lecturing just as long, and everyone was in their seats.

The eyes of the students were a little less bright, texting was a bit more rampant, and a general vibe of "meh" permeated throughout each classroom. But my classes are definitely not letting up.

However, becoming a second semester senior has shifted the way I feel about school (and life in general). I still do everything I did first semester but with a little less gusto. "I'll be gone in 7 months anyways!" has become my excuse for just about everything. I feel like a marathon runner who is so close to the finish line, but instead of sprinting to the end, has just started walking.

I've noticed the trend in my friends too. Picture-perfect 5.0 students — who are all varsity soccer team captains and presidents of clubs — skipping class! They've planned their whole academic lives just so they could put these activities down on their transcripts, and now they're embracing their second semesters like it's the afterlife.

Throughout high school, I've made a point of only participating in activities that I care about, which makes second semester pretty much just like all the rest. So I soldier on (although with a little less umph).

Most college applicants write about their love of learning and how they are self-motivated students, but to me, slacking off in the second semester makes us hypocrites. And who wants to be a hypocrite? But the second I start to feel bad about it, I remember "I'll be gone in 7 months anyways!"

With graduation coming up in just a couple of short months, job interviews can't be far behind for college seniors. Or maybe you're interviewing already?

I know for me, the last semester of college was consumed with lots of worry about landing a job after graduation. And my worst fears were actually realized — it took me much longer than I'd planned to land a job in my field.

I don't say this to scare you! Hopefully you can learn a little bit from my experience. I wasn't really ready for my job interviews.  Why? A few reasons. Some of the jobs weren't a good fit. I was nervous, not being myself in many of the interviews.

But also, some of the interview questions really threw me.

At one interview, they actually asked me who my favorite comedian was. Huh? I panicked and gave the name of the first comedian that came to my mind — definitely not my favorite. I cringed inside when I saw the interviewers give each other a sidelong glance that said, "Uhh, this woman is not going to fit in here."

Light bulb moment: They wanted to know something about my personality that the standard interview questions weren't going to tell them. Needless to say, I didn't get the job.

So how can you be ready for those curveball questions? I came across an article a couple months ago that listed some "creative" interview questions for employers to ask potential applicants. Check them out  and try to work through the answers you might give. It's a great exercise to get you thinking about what a potential employer might want to know about you, and how to best present yourself.

Have you been through any job interviews yet? Tell us about your experiences.

Hello, Student LoanDown readers! I know it's been a while since you've heard from me on the blog. I've been pretty busy this past year working on a project related to new regulations for the credit card industry.

You might've heard about the Credit Card Accountability, Responsibility and Disclosure (CARD) Act which was signed into law by President Obama  in May of 2009. The CARD Act outlines a series of new regulations on open-ended consumer credit accounts that are meant to strengthen consumer protection in the credit industry.

Why should you care? Well, there are specific regulations that apply to consumers under the age of 21. These regulations apply to any financial services company that issues open ended credit card accounts. Here's what you should know:

• If you are applying for open-ended credit (such as a credit card) and are under 21 years old, you must show proof that you can independently repay your debt. Otherwise, you'll need a creditworthy co-applicant who is 21 years or older on the account with you.
• If you are under 21 with a joint accountholder on your credit card account, the joint accountholder who is 21 or older must provide written authorization for any credit line increase that you request.
• Giving college students "inducements" or giveaways to apply for a credit card is not allowed. This applies to all students attending an institution of higher learning, regardless of their age.
• If you are under 21, you must submit a written application that contains your signature and the signature of your co-applicant (if applicable).

As I mentioned, the CARD Act has many other new regulations meant to protect credit card consumers. If you want to learn more, head over to the Federal Reserve website.

If you are a Wells Fargo credit cardholder, you should've received a notice in December or January outlining how Wells Fargo is complying with the CARD Act and what it means for you. And if you have any specific questions, please let us know!