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Student LoanDown readers, we’re taking a quick pulse check using our new poll feature. We hope you like it, and you should be seeing more of it!

So, our very first question is: How are you paying — or did you pay — for college?

If you have other thoughts to share about paying for college, let us know!

Staci

Last week, our friends at the Guided By History blog recounted some of their stories about the 1989 Loma Prieta earthquake.  The 20th anniversary of this disaster just passed, on Saturday, October 17.

I didn't live in San Francisco in 1989, but I did from 1998-2000, where I experienced my share of small quakes. One fall morning in my tiny Noe Valley  studio, I was attempting to open a stuck dresser drawer. Just as I yanked it open, I noticed that my glass closet doors were shaking. I thought to myself, "I didn't pull it THAT hard!" Then I turned around and saw that the rest of my apartment also was moving — and realized I was in the middle of my first earthquake.

At that point in my life, I wasn't prepared for an earthquake. I didn't know that I should move into a doorway or underneath a sturdy piece of furniture. I hadn't assembled an earthquake kit. I'm a Midwesterner! Give me a tornado or a severe thunderstorm, no problem, but an earthquake? No idea what to do.

If you're in the same boat as I was back then, the Bay Area Chapter of the American Red Cross  has put together a series of preparedness webisodes  for young adults that can help you make a communication plan with friends and family, put together a disaster survival kit, and more. It's good stuff.

Check it out and be prepared!

Staci

True story time.

Last week I got an email from a friend and former Wells Fargo colleague, who'd had an interesting experience at her local drugstore:

I had my Wells Fargo jacket on in Walgreens  today and this kid asked me, out of the blue, "How do I get credit, if I don't have any?" I was kind of taken aback for a moment — do I look like a lady who knows about credit? And then he said, "Well, don't you work at Wells Fargo?"

So we started this strange conversation about how he was going to school and needed to get a loan, and couldn't build up his credit because he didn't have any, and because he didn't have any history they wouldn't give him any credit. I didn't know what to say. I kind of wanted to run out of the store. But I told him I would check into it for him.

Gotta give this kid props for walking up to a total stranger and asking for credit advice!

And at the same time, I'm thinking, this poor kid — he clearly hasn't received any credit education at home or at school, so he has to ask a total stranger!

What makes this story particularly timely is that today is Get Smart About Credit Day.  Every October, the American Bankers Association hosts this initiative to educate consumers and students about credit. Given the current economic environment — where credit is harder to come by — these efforts are more important than ever.

Fortunately, if you want to get smart about credit, you don't have to go to the drugstore. Stay put and check out some of these resources Wells Fargo offers:

• Smarter Credit Center
• Credit Education
• Student Credit Education
• Hands on Banking financial education program 

And don't forget: By law, you're entitled to one free credit report every year. 

So, what credit questions can we answer for you?

Staci

Just a few weeks ago, Wells Fargo launched a new online student loan application with several improvements to make applying for a student loan easier.

What's so special about the new application? For one, you — our customers — had a hand in designing it! See, you told us what some of your pain points were, and we listened to that feedback and used it to design something that works better.

Here are some of the changes we made:

• Up front, the application suggests which student loan products might best meet your needs, based on your school, grade level, program, and cost of education.
• The application itself has been condensed so there are fewer pages to click through.
• Throughout the application, there are hyperlinks to define any terms that might be confusing, as well as clearer instructions for cosigners on private student loans (and we know you have many questions about cosigners!).
• Finally, the application clearly details the next steps in the process so you know exactly what to expect before, when, and after you apply.

All in all, very solid improvements that we hope will make your customer experience even better.

Speaking of customer experience, have you used the new online student loan application? If so, any feedback to share? We're listening!

Staci

Have you heard? The recession could be drawing to a close! 

I'm cautiously optimistic that our economy is rebounding. So are my brother and sister-in-law, who just purchased a new car through the "Cash for Clunkers" program.  Although I'm not planning on making any major purchases anytime soon, my financial situation has changed for the better. I sold my old house in June, so my months of double mortgage payments are over. (Huge sigh of relief.)

But during those months, even as I was pulling funds out of savings to cover two mortgages and trying to find ways to cut back on entertainment costs, there were a few "splurge items" I couldn't live without:

• Care for my Corgi
  Pets are expensive, and my eight-year-old Pembroke Welsh Corgi , Pie Elizabeth, is no exception. She has allergies and requires special food and treats, plus medication and vet visits to keep her from gnawing on her paws. I've read many news articles about families having to abandon their pets because they can't afford them, which makes me beyond sad (yes, I also cry during those Sarah McLachlan ASPCA commercials ). So even though I'm watching my pennies, I budget for both my own pet's needs and donations to the local animal shelter.


• Coffee
  I became addicted to Peet's Coffee  when I lived in California. After I left nine years ago, I set up recurring orders through their Peetniks  program. Every 34 days, two pounds of whole bean Arabian Mocha Java arrive on my doorstep via UPS. It might be slightly more expensive than buying coffee at the grocery store, but in the long run, it probably saves me money because I'm not splurging on lattes and mochas as often.


• Online music downloads
  iTunes  has raised its prices, but $1.29 + tax for a little piece of music happiness is still a bargain in any economy. I try to restrict my purchases to a song a week or an occasional new release album from one of my favorite artists.  Fortunately, my friends and family are aware of my love of music and often give me iTunes giftcards for birthdays and holidays — making them free to me!

These might be small indulgences, but they sure make my life a little better (and me a little happier) during tough economic times. Anyone else have a splurge story to share?

Staci

Editor's note: Chelsea McDermott-Lenocio is a guest blogger from our Card Services & Consumer Lending division, where she is a product manager. When she's not out enjoying time in the sun or fishing, you can catch Chelsea shopping for stealer deals on shoes and jewelry at local boutiques.

OK, so paper or plastic might not be the question on your mind when you whip out your wallet at the grocery store (or at any store for that matter), but you may find yourself pulling out your debit card (aka check card) more often than writing a check or paying with cash.

With all the great features of this simple piece of plastic, there's no wonder why the popularity with the debit card has increased since the 1980s. 

Not only does a debit card offer flexibility, but it's also a convenient way to access the money in your account. It can be used to make deposits, withdraw cash, transfer funds between your accounts and perform other transactions at the ATM (Automated Teller Machine).

When you use your debit card, all purchases or other transaction amounts are deducted from the primary deposit account that is linked to your card.

And as you probably know, there are two ways to pay for your cup of coffee or for your book purchases  using your debit card: You can either choose to use your Personal Identification Number  (PIN) or select "credit" and sign the receipt.

I can't even remember how long I've been using my debit card (more than 10 years for sure). But I can tell you that I find myself pressing "credit" habitually (unless the merchant only accepts PIN for payment) because I can't stop thinking about all the Green Rewards and travel arrangements — like airfare, hotel or rental car — that I'll reap once I redeem my rewards points through the optional Wells Fargo Rewards® program!

So what are the real differences between paying with cash and using a debit card, you may ask? Here's a simple breakdown to keep in mind:

So, what do you find yourself using the most, cash or debit card? What features of the card do you like the best?

Stay tuned as Chelsea explores other topics on how you can manage, protect and reward your everyday debit card spending. And if you have any questions or topics you'd like her to cover, let us know!

Staci

This week Wells Fargo announced the results of a recent survey, which shows that parents and their 18 to 22-year-old children don't always see eye to eye when it comes to managing personal finances.

I'm not surprised by this. When I was between the ages of 18 and 22, I didn't agree with my parents about personal finances, either. They wanted me to save more and to be less reliant on them for funds. I liked my allowance and wanted to spend it on ridiculous 90s fashion trends. 

According to the survey, here are parents' top three personal finance priorities for their children:

1. Find a job
2. Pay off student loans
3. Pay off credit cards and debt

Sounds pretty sensible to me, but the young adults surveyed had other ideas. Here are their personal finance priorities:

1. Buy a car
2. Find a job
3. Buy a home

Well, at least "find a job" was on both lists.

Tell me: When it comes to money, are you and your parents on the same page?

Staci

Last week Barbara laid out a number of options for borrowers to extend or postpone student loan repayment — important information for new grads to have as they enter the real world. This is a topic that we get lots of questions on — probably second only to how to lower student loan interest rates.

But I'm going to play devil's advocate  here, because I think it's important for you to consider another perspective. I'm going to tell you not to take advantage of these options unless you absolutely have to.

Michelle Singletary, one of my most favorite and down-to-earth personal finance columnists with The Washington Post , had this to say about extended student loan repayment in a piece published on May 17, 2009:

But can I give you some hard but well-meaning advice if you're one of the many graduates saddled with student loans?

Instead of immediately opting for repayment plans that will stretch your payments out until you're in middle age, try to find other ways to handle this debt.

I know these are tough times. Nonetheless start your loan repayment as soon as possible, even if it means taking a second job, or a roommate (or two or three), or yes, dare I say, moving back home for several years.

You could handle this debt if you delay going on to graduate school, which would only pile on even more debt. If you are going to have trouble finding a job to make the monthly payments on your undergraduate debt, how in the world are you going to find employment to service tens of thousands more as a result of an advanced degree? Trust me, an advanced degree doesn't guarantee a big salary.

You don't get to buy a new car, an upgraded wardrobe, waste your money on liquor at happy hours, or take vacations until this debt is extinguished.

And don't look at me with that face. Only after you've exhaustively scanned your budget and cut every possible expense (such as deleting the texting option on your mobile phone) should you consider extended repayment options.

Tough love from Michelle, but her advice is spot-on. Here's how she ends her column:

I've met an incredible number of people -- too many -- who really could have paid their student loans under the standard payback period but because they didn't want to live frugally, saw their loan balances jump significantly over the years.

If you truly can't afford to fully pay what you owe, take advantage of the extra breathing room. But remember the more you delay, the more you may pay.

Something to think about.

Staci

You might not have noticed, but at the end of April we added a toll-free phone number to the Student LoanDown blog: 1-877-412-5321.

In the age of social networking and Twitter  — which, BTW, Wells Fargo is using  — why would we include something as archaic as a phone number? After all, I'm the first to admit that I generally go out of my way to avoid making a phone call. If it's something I can solve by looking up the answer online or sending an email, that's the route for me.

But education financing can be complicated, frustrating, and even a bit emotional. And when you're trying to figure out how much to borrow for school — or if you should even borrow at all — sometimes it can help to talk things through with a real, live person. Our student loan specialists are here to help.

Of course, you can continue to comment on posts, or send us emails, or use our Ask the Expert tool. You have options!

Later this year we're going to give ourselves a bit of a facelift, and we're planning on adding some additional features, too. If you have suggestions for what you'd like to see, please send 'em our way!

Staci

I'm always looking for ways to make my life a little more convenient and a little less messy. In fact, if anyone has some simple advice for: [1] stopping my Corgi  from shedding uncontrollably, and [2] keeping dog hair from accumulating on my new bamboo floors , I'm listening.

But today I'm offering a suggestion to make your lives a little more convenient and a little less messy while also doing something great for the environment: switching to online-only statements.

With Earth Day  happening this week, it's a great time to consider going paperless. Plus, until May 31 Wells Fargo is offering a really cool sweepstakes as an incentive. By switching your eligible personal and/or business accounts to online-only statements (student loans included), you'll automatically be entered for a chance to win one of three $10,000 prizes. Each account you switch qualifies you for an entry. Plus, Wells Fargo will donate $10,000 in your name to your choice of one of the following three environmental nonprofits: The Nature Conservancy, Earthwatch® Institute, or The Trust for Public Land.

There's no purchase necessary. Check out the official Sweepstakes Rules for all the legalese.

Since I'm a Wells Fargo team member who already receives all of her statements online, the only "spring sweep" I'm eligible for pertains to the dog hair on my bamboo floors. But if you're eligible, enroll today and help save the greater Green!