When I first read the press on Ultrinsic I felt an immediate roll of my stomach.

Here’s a site where the most prized target of marketers - incoming college freshman — can sign up and place a “bet” on their grades. If they get the grades, they make money on the bet. If not, they lose the money they put down. “This (incentive) helps remove one of the large barriers students have to studying and staying motivated over the course of long semesters of college…” explains Ultrinsic Chief Operations Officer Judah Guber, in “Pay for an A?” by Andrew Gelman.

I suspected Guber (who graduated college himself in 2005 with B.A. from CUNY-Queens College) had it wrong. How could just paying for grades somehow provide a magic bullet for motivating students to study harder? But I continued to read, seeking first to understand.

To read the rest of this article, click here.

As my oldest daughter heads off to college this Fall, I experienced my first college freshman “buying season”.  From laptops and bedding to carpets and refrigerators, the list just seems to grow each day.  My colleague Steve Rosen, Kids & Money columnist with The Kansas City Star, and I talked recently about this experience, and he included some great tips in his latest column on this specific topic. 

As a parent of a college-bound teen, my own advice:  Educate your kids on the costs of all the “essential” stuff before plunking down the money!  Here’s the link to Steve’s column that parents of any college-bound kid will find helpful:

http://www.kansascity.com/2010/07/16/2089018/ways-to-save-as-you-head-off-to.html

Reading a note from a single mom that read my recent blog  “How to say no to student loans but yes to college” and how she helped her child say “no” to student loans - truly an amazing story with great tips for all of us.  Here is the approach she took:

“Hooray for your common sense approach to funding college.
 
When my daughter was a freshman in high school, I sat her down and told her that as a single mom who worked as a baker, I simply couldn’t afford to pay for college.  So, we worked out a plan.  (more…)

Is it impossible for a child to graduate from college free and clear of debt? Nobody even talks about a “debt-free” matriculation. Most of us just assume that graduation and debt go hand-in-hand.

According to the Project on Student Debt, the average debt level for graduating seniors with student loans rose to $23,200 in 2008 – a 24% increase from $18,650 in 2004. What’s more, 67% of students graduating from four-year colleges and universities have student debt. Add to this debt load the inevitable credit card debt kids accumulate and well, it’s getting harder to defend the decision to get a college education if the price is really that high – especially in light of the grim prospects of getting a decent job once you graduate.

Many college students today who take on student debt see no way around this mess. Citing “no parental support” nor access to funding from the university they have chosen, they face only one other option – loans from Sallie Mae.  “A couple of months before I moved East, I examined my finances,” writes Emily Schmitt in her story “Student Loans: A Bitter Financial Lesson.” “I had two options: first, not to go to grad school; and second, to fund most of my education with student loans. NYU ain’t cheap. My tuition runs upwards of $15,000 per semester,” she explained.

Emily took out the loans. Emily felt she “had no alternatives.” Really Emily? (more…)

I just finished reading a story that ran in the Chicago Tribune on September 17, 2009. “Luxury dorms: Purdue University, other schools build swanky housing to lure undergrads” by Sara Olkon.

I am still reeling from what I read. (more…)

I was recently interviewed by AP reporter Shaila Dani regarding the new law that goes into effect next February to curb credit card incentives for college students and new rules for the under-21 group and their parents. (more…)

This week a reader contacted me with a question regarding how to tackle the cost of college on just one income. Her son has just finished with college and now her daughter really wants to go to a 4 year university this August. (more…)

Calling all College Graduates: Get a Job, Get Paid, Get your College Debt paid as a signing bonus! (more…)

Columnist Steve Rosen recently wrote a column for those of us with rising high school seniors in our households. His advice is spot-on — as usual — so, I am providing you with the complete text for your college files! (more…)

Financial aid is hard to get. Loans are still available but not as available as they were a year ago. (more…)