Tag Archives: saving

College Talk

How to get your degree without all the debt.

Article courtesy of Member One Federal Credit Union

American college grads now collectively owe about $1.5 trillion in student loans—and nearly two-thirds of that debt is held by women. While it’s true that more women than men are now attending college, on a student-per-student basis, women are borrowing more than men—and may face a harder time paying that debt off, given the gender wage gap that continues to exist. College can still be a good investment in your future, but the less borrowed the better. Here’s what you, or the college-bound young woman in your life, can do to help minimize student debt. 

Stay open-minded when choosing a college. 

Many families go by “sticker price” when deciding on a school, but that can be a mistake because the published tuition may not be what you’re expected to pay. Some pricy private schools actually have more available aid to offer to qualified, less affluent students. On the other hand, don’t assume that a bigger tuition bill equals a better education. Many state schools today offer quality degree programs comparable to the big names. Apply to a mix of public and private colleges and favor the school that offers you the best financial aid package. And don’t overlook community colleges. Two years at one of the 23 schools in the Virginia community college system can save you tens of thousands in tuition. 

Appeal your financial aid. 

Many families don’t realize that a financial aid offer is potentially negotiable. We’ve all heard that women are less likely than men to negotiate, so here’s a chance to change that. If your preferred college offers you a financial aid package that’s insufficient, let them know that you’d love to enroll but need more help making it affordable. If another school has offered you a better aid package, mention that and ask your dream school whether they’d be able to match it. 

Keep hustling. 

Working through college doesn’t have to be detrimental to grades, and it can actually be an opportunity to gain career-relevant skills for the future. Work-study programs are convenient because they’re on campus and allow student employees to tackle homework during downtime. Co-operative education programs provide structured work experiences where students gain real-world knowledge while getting paid and earning college credit. And don’t forget, college is a great time to tap into your entrepreneurial spirit! Modcloth’s Susan Gregg Koger is one example of a female entrepreneur who got started in her dorm room. 

Make scholarship searching a priority. 

Yes, finding and applying to scholarships takes work—so treat it like a job because it can potentially pay very well. Every dollar you’re awarded in scholarships is potentially one less dollar you’ll have to borrow. Dedicate at least a few hours each week to scholarship applications, and look for opportunities in creative places where you might face less competition. Think community organizations you belong to, your parents’ employers, or even your local bank or credit union. 

Join Member One here each month for more money-saving tips and financial advice! Be sure to visit their website, www.memberonefcu.com, for more info on their products and services. Member One Federal Credit Union is federally insured by the National Credit Union Administration. 

Save Smarter

Six Tips for Keeping your Smartphone Secure

How your device could be just as vulnerable to hackers as your computer. Presented by Member One Federal Credit Union

What’s shiny, contains some of your most precious memories, and is rarely out of sight? No, it’s not your child after being slathered in sunscreen at the beach. It’s your smartphone. You hear about the importance of securing your computer from hackers, but are you aware of how vulnerable your smartphone could be too? In honor of National Cyber Security Awareness Month, we’ve rounded up tips to help keep the sensitive data on your device safe. 

1. Set a personal identification number (PIN) on the lock screen. While it may be more convenient to keep your phone unlocked, setting up a PIN is one of your first lines of defense against fraudsters in the event your phone is lost or stolen. Many devices prompt you to complete this step upon setup. Pick a PIN that’s difficult for a criminal to guess but easy for you to remember. 

2. Make sure your software and apps are up to date.  Many devices will send a push notification when a software, app, or security update is ready to install. When you receive those notices, install them. It’s also a good idea to occasionally visit your phone’s settings to look for any updates you may have missed. 

3. Log out of applications when you’re done using them.  If you access mobile banking, email, social media, or websites that contain personal data with your phone, get in the habit of logging out when you’re done. You’ll be thankful that fraudsters won’t have easy access to your personal information in case your phone is lost, stolen, or hacked. 

4. Understand what apps you’re downloading.  Before installing an app, consider reviews from previous customers and look over the permissions before downloading it onto your device. Try to stick to only downloading apps from the mainstream app stores or from developers that are well-known and have high ratings. 

5. Be cautious about public wireless networks.  As a rule of thumb, never connect to an unknown wireless network. Cybercriminals may set up a network name that looks very similar to one established by a legitimate venue, so it’s best to ask staff for the network name and password. Avoid opening apps or visiting links that contain your personal information while connected to a public network. 

6. Don’t click on suspicious links.  This includes links sent through email or text messages. If it’s an email, flag it as spam or junk. If it’s a text informing you that you’ve won a prize or have a special offer awaiting you, delete it right away. Unless you’ve opted in to receive notifications by text, a legitimate company will typically not contact you with important information this way.

Taking a few simple precautions now to protect the data on your smartphone could mean fewer headaches and heartbreaks if your phone is ever lost, stolen, or hacked. Our smartphones aren’t nearly as precious as our children, but they contain plenty of sensitive data that needs to be secured. 

Join Member One here each month for more money-saving tips and financial advice! Be sure to visit their website, www.memberonefcu.com, for more info on their products and services. Member One Federal Credit Union is federally insured by the National Credit Union Administration.