FAP633: Expert interview with Yvonne Gittens 2: How to get into MIT, Audiopharm

September 26, 2007

Expert Interview
+ Part 2 of the Yvonne Gittens interview
+ Ever wondered what a top school like MIT looks for in applicants? She’ll tell you, plus how much consideration you actually get in the admissions process - it’s different than you might imagine!

Promo
+ Private student loans from ActEducationLoans.com

Podsafe Music
+ Audiopharm, Last Ride

Reminders
+ Add the show to your iTunes by visiting http://www.FinancialAidPodcast.com/itunes/
+ Register for PodCamp Boston for free
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Stafford federal student loans at StaffordLoan.com
+ Student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ The Financial Aid Podcast is a publication of the Student Loan Network.

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

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FAP632: 7 steps to career growth, Sallie Mae, Adrina Thorpe

September 25, 2007

FAP632: 7 steps to career growth, Sallie Mae, Adrina Thorpe

Student Financial Aid News
+ BankNet360: Sallie Mae said Friday that it expects Bank of America and JPMorgan Chase to “honor” the terms of their contract to purchase Sallie Mae.
+ The purchasing group includes two private equity firms, J. C. Flowers & Company and Friedman Fleischer & Lowe. Sallie’s statement made no direct references to the hedge funds in its statement.
+ The banks, which had agreed to buy Sallie Mae for $25 billion, plans to return to the negotiating table and seek a lower price, The New York Times reported Thursday. If the group fails, it may move to scuttle the deal.
+ “We expect these banks to honor their commitments under that contract, not breach that contract,” Sallie Mae said in a statement. The company said that the College Cost Reduction Act does not constitute a material adverse effect under the merger agreement.
+ A battle at Harvard about textbook prices according to IHE

Scholarship Update
+ Freedom From Religion Essay Scholarship
+ $4,900 - $2,000 grand prize
+ Essay on freedom from religion
+ Next opens up in February 2008
+ Details at our free college scholarship search site

Jobcast
+ Leesa Barnes launches her book tour today, Podcasting for Profit. The Financial Aid Podcast is in there somewhere
+ Get 2 chapters for free
+ Good framework for any entrepreneurial venture, not just podcasting for money
+ Good framework for your career search
+ Wheel of Venture!
+ Assess
+ Plan
+ Launch
+ Grow (Market)
+ Profit
+ Measure
+ Optimize
+ Repeat Steps 4 - 7

Podsafe Music
+ Adrina Thorpe, Midnight

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Direct MP3 file download: MP3 file

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Best of FAP: FAP384 Interview with Jack Kopnisky

September 24, 2007

A re-run of an interview with Jack Kopnisky, CEO of First Marblehead, provider of our Act Education Loans.

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FAP631: Free stuff Friday for the iPhone, Sallie Mae, Dollars, Natives of the New Dawn

September 21, 2007

FAP631: Free stuff Friday for the iPhone, Sallie Mae, Dollars, Natives of the New Dawn

Student Financial Aid News
+ NYTimes: The consortium that had agreed to buy Sallie Mae for $25 billion plans to return to the negotiating table and seek a lower price, people close to the group said yesterday. If the group fails, it may move to scuttle the deal.
+ The buyers — the private equity firms J. C. Flowers & Company and Friedman Fleischer & Lowe, as well as two banks, JPMorgan Chase and Bank of America — met Tuesday to discuss the best way to pressure Sallie Mae into accepting a lower price, these people said.
+ While the group is hoping to renegotiate the price of Sallie Mae, these people said, it may also be willing to walk away and pay the $900 million breakup fee.
+ If that happened, the deal would become the biggest casualty of the tighter credit market, which persists despite the Federal Reserve’s decision on Tuesday to cut interest rates.
+ The buyers also appear to be reacting to legislation that Congress passed over the summer that would reduce subsidies to student lenders.
+ Though they have intimated threats before, the group intends to sit down with Sallie Mae’s parent, the SLM Corporation, as soon as President Bush signs the bill into law, these people said. That could be as early as this week.
+ Got Sallie Mae loans? Consolidate them with StudentLoanConsolidator.com
+ IHT: The world dumped the dollar on Thursday, pushing the greenback to an all-time low of $1.40 against the euro and to parity with the Canadian dollar for the first time in three decades as currency traders around the world digested the full implications of the U.S. Federal Reserve’s new course for interest rates.
+ Against the Canadian dollar, the currency of the largest U.S. trading partner, the dollar tumbled to one-to-one, a level not seen since the 1976, the early phase of a currency crisis that would eventually send shock waves through the global economy.
+ the U.S. economy now seems to be providing fresh evidence that a meltdown in real estate prices might jar consumers into spending less - a fear evidently shared by policymakers at the Fed. That has given a fresh impetus to traders bearish on the dollar.
+ Oil prices set another record on Thursday, reaching $82.55 a barrel in New York.
+ What does this all mean for you? Among other things, it means that being a tourist in other countries will be expensive for Americans
+ More exports, cheaper exports (more jobs)
+ More expensive imports
+ More tourists here
+ In terms of financial aid, it means that economic indicators are showing a slowing economy. As much as possible, try to minimize your borrowing (which sounds weird coming from a student loan company) and borrow in terms of lowest rates
+ Stafford federal student loans at StaffordLoan.com
+ Private student loans at ActEducationLaons.com

Scholarship Update
+ The Global Solutions Flash Movie Contest is for students, budding artists, multi-media designers, and activists who are interested in making some cool web videos. We hope their inspiring shorts will stand out in an era of ubiquitous technology, of infotainment, and of reduced attention spans, and inspire every-day people to watch, listen, learn, and take action on the global issues that they care about. Cash prizes are awarded (based on the five-person judging panel) for first place, second place, third place, and the viewer’s choice.
+ $2,000 prize
+ Deadline May of each year
+ Details at our free college scholarship search site

Free Stuff Friday
+ All iPhone/iPod Touch apps today
+ iPhone Chat
+ Google Reader
+ OneTrip shopping list
+ iTweetr
+ Gas prices
+ METAR
+ iPhone Travel
+ iActu
+ 101 cookbooks on your device
+ GoMovies movie listings
+ Cheap MF Amazon comparison shopping
+ Widgetop
+ iPhlickr
+ Lots more at iPhone Application List

Podsafe Music
+ Natives of the New Dawn, Good Day

I want to hear from you! Email me at financialaidpodcast {at} gmail {dot} com, visit http://www.FinancialAidPodcast.com, or call 206-350-1208.

Direct MP3 file download: MP3 file

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FAP630: Federal funds rate change, mail bag, Matthew Ebel

September 20, 2007

FA𓫶: Federal funds rate change, mail bag, Matthew Ebel

Student Financial Aid News
+ Chronicle: Senate bill S 1561 currently in the Judiciary Committee, would allows private student loans to be discharged in bankruptcy
+ 5 year wait time in proposal
+ Big econ news: FOMC cuts funds rate by 50 basis points on Tuesday
+ What does this mean for you?
+ Any loan based on the prime rate is based on the federal funds rate
+ Funds + 3% = Prime
+ Credit cards, mortgages, even some student loans
+ LIBOR, which powers Act Education Loans, is not directly related to prime/fed funds
+ LIBOR will drop because ultimately if the fed funds rate is lower than LIBOR, banks will borrow from the Fed rather than each other

Scholarship Update
+ The Excellence in Predicting the Future Award is a $400 cash gift awarded every two months by Troy Studios to encourage students to pursue economics or simply to learn more about the world they live in. The award winners are chosen based on their performance in a contest. The contest is open to all students of all nations, regardless of field of study. To enter the contest, students should sign up for a free account on the cenimar.com website and then use the Cenimar Prediction Market to buy and sell predictions about the future in the same way that they might buy and sell corporate stock on a commercial stock market. The prediction market trading is done using play money that is given to the student for free.
+ Awarded every 2 months - next is Oct 10
+ Details at our free college scholarship search site

Mail Bag
+ Jenn writes in: I have another question. You mite not be able to answer it, but I thought I should give it a shot.
+ As of right now I go to Cosmetology school and i have a part time job at a salon. I live with my aunt and uncle because my mom and I have had bad problems my whole life. I recently just moved in with my aunt but I don’t have my own room or barley any space for myself and my family is not the most stable or loving family either.. So i was wondering if there was any way of getting a loan while im in school to pay for an apartment and stuff around the apartment while im in school (kinda like room and board) and when i get out of school pay it back on a payment plan until its paid off.
+ I was just wondering if its possible. If not I′ll just have to wait until im done with school and working full time and making good money. thanks for your time.
+ Yes, you can. You can apply the proceeds of any student loan after tuition and fees to living expenses
+ You can also apply for private student loans to exclusively cover such expenses
+ This guy wrote in: so wats good with grants and loans im tryna start college
+ File your FAFSA online at FAFSAonline.com
+ Get Stafford federal student loans at StaffordLoan.com
+ Get parent loans at ParentPLUSLoan.com
+ Get private student loans at ActEducationLoans.com

Promo
+ PodCamp Boston

Podsafe Music
+ Matthew Ebel, Lost My Way
+ Preorder the new album, Goodbye Planet Earth