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Debt-Free Degree

It’s been said student debt is a product that has been sold to us with such repetition and intensity that most people believe they can’t live without.

My 19 year-old son attends community college, drives a 15 year old car, and lives at home. He could have attended a number of universities. But as, Andrew Josuweit, at Forbes.com, says “skipping community college can be a $20,000 mistake.”

According to the College Board, "of all students who completed a degree at a four-year institution in 2013-14 had enrolled at a two-year institution at some point in the previous 10 years." The variety of tracks are appealing.

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We are two weeks into a new year. Are you discouraged by the state of your financial affairs?

ZeroHedge.com recently revealed the states where consumers accumulated the greatest revolving debt. Hopefully, you were not among those who woke up regretting the addition of thousands of dollars to your credit cards over the holidays (at a 30% interest rate nonetheless).

Minnesota and Wisconsin dominate the list of cities with the top 10 best credit scores, while cities in California, Texas, and Louisiana account for 8 out of 10 of the worst scores.

According to MarketWatch, the average family in the worst states would be required to apply 15% of their median income toward debt repayment and it will take them over a year and a half to pay off their credit card debt.

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Not only do you and I have to live within a budget, but so do institutions of higher education. So, what do they do when things get tight?

According to a recent article at MarketWatch, when public colleges are strapped for cash, they go international.

The article reported that for every 10% drop in state funding provided to public universities between 1996 and 2012, public research campuses increased enrollment of foreign students by 12%, and those colleges that spend the most on their students raised international enrollment by 17%. 

ALL colleges do not resort to this approach, but it is a true reflection of those institutions with an international reputation and those hardest hit by state cuts.

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