Daily Aid 11: 5 job trends that will keep you employed

September 22, 2008

Daily Aid 11: 5 job trends that will keep you employed

In the midst of all the economic news, you may be wondering what to do, especially if you’re just getting into college now or are thinking about what life after college will be like. While it’s impossible to predict the future with any level of accuracy (just ask a competent weather forecaster what next month’s weather will be), there are some trends that are incredibly obvious and good bets for your future.

Call this, then, eye on the economy and jobcast in one.

Trend 1: Oil

We’re going to run out of oil someday. That’s kind of a given, since dinosaur juice takes a long, long time to make, far longer than the rate at which we use it. Students who have a focus in sciences like mineral and resource exploration will do very well for years to come as we keep trying to find the next energy source while we tap out existing sources. If you can find new forms of oil while the world’s energy systems change over, you’ll do well.

Trend 2: Water

If you think oil is scarce, fresh water is going to become even more scarce. Why? Too many people for too few fresh water resources. There’s a lot of water on the planet, but very little of it is drinkable. Students who have a physics and chemistry focus, as well as mechanical and electrical engineering, will be sought after for projects dealing with water in all of its forms. How can we find or create more water?

Trend 3: Energy

Solar, wind, nuclear, biomass, take your pick. The world is starving for more energy, especially renewable energy with a low environmental impact. Specialists in photovoltaics, batteries, and turbines will be needed desperately by anyone and everyone trying to find improved, more efficient solutions to a never-ending hunger for energy.

Trend 4: Writing

Believe it or not, writing as a skill is becoming increasingly valuable as the pool of competent writers decreases. The ability to write in a focused, concentrated manner is a rare one, especially if you can communicate effectively. Writing skills cross over into dozens of different media, from television to blogs to YouTube. If you’ve got outstanding writing chops, opportunities will abound.

Trend 5: Marketing

Our communications systems are increasingly clogged with messages of every kind, from commercials to political ads to spam. If you’re the person who can cut through the clutter and get your message across with impact, there are a few thousand companies that would like to talk to you very soon. Marketing is more than business. It’s art, music, interactive, design, writing, and communications all in one. If you’ve got a specialty, a knack for any of these areas, you’re likely going to be employed for a very long time.

One of the lessons of the global networked economy is that the long tail and short head matter more than ever. Today, employers have a buffet of choices when it comes to finding talented workers, from regular hires to outsourcing to subcontracting to… well, you get the idea. The old rule of employers just hiring locally is long gone.

In the world of today and tomorrow, your job security depends on you being the very best at what you do. Find a specialty and become the expert in it, because that’s truly your only job security. The company you work with today, no matter how old or prestigious, may be gone tomorrow (Lehman Brothers comes to mind, 158 years old and bankrupt) but its top talent will find new work very quickly. Everyone else who isn’t a top talent will have a much harder time finding work.

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Reminders
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+ Financial Aid Podcast Show Notes at FinancialAidPodcast.com.
+ Free scholarship search secrets eBook at StudentScholarshipSearch.com/ebook
+ Open an FDIC-insured savings account today!
+ Stafford federal student loans at StaffordLoan.com
+ Parent PLUS loans at ParentPLUSLoan.com
+ Graduate student loans at GradLoans.com
+ Private student loans available at any time - visit AlternativeStudentLoan.com
+ Private student loan consolidation at StudentLoanConsolidator.com
+ FAFSA form tutorials and free help at FAFSAonline.com
+ Get FAFSA news at the FAFSA blog

+ 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.

Daily Aid 6: Warren Buffett, FDIC, student loan settlements, savings bonds

September 10, 2008

Daily Aid 6: Warren Buffett, FDIC, student loan settlements, savings bonds

Student Financial Aid News

New York State Attorney General Andrew Cuomo settled with Nelnet (ticker: NNI), Campus Door (ticker: LEH), GMAC Bank (ticker: GMAC), NextStudent, Xanthus Financial Services, EduCap, and Graduate Loan Associates for $1.5 million in a lawsuit against deceptive student loan marketing practices.

From the Wall Street Journal:

Warren Buffett’s Berkshire Hathaway Inc. (ticker: BRKA) has told one of its subsidiaries to stop insuring bank deposits above the amount guaranteed by the federal government, dealing a fresh blow to the financial-services industry as it tries to assuage anxious customers. The subsidiary, Kansas Bankers Surety Co., is notifying about 1,500 banks in more than 30 states that it will no longer offer a program called “bank deposit guaranty bonds.”

Commentary:

This is a big, big deal because it indicates a lack of confidence in the banking system by Warren Buffett, which is kind of like Emeril Lagasse expressing a lack of confidence in food or Paris Hilton expressing a lack of confidence in parties. It’s a sign of how tough the economy has become and how risky it is to be in any financial vehicle not insured by the federal government. Buffett’s move indicates that fundamentally, he believes a strong enough potential exists for runs on banks that insuring deposits above the FDIC limit would be a money-losing proposition.

What does this mean for you? If you have cash or savings that exceeds the FDIC insurance amounts available, you need to open another account and move the excess so that it’s insured. This includes, by the way, corporate payroll accounts, so ask your employer if they have a reserve cash account that’s insured separately, just in case your employer’s bank goes under and your payroll cash account exceeds the FDIC insurance limit.

Scholarship Update

Who would you choose as the ultimate political super hero or villain? What powers of good or evil would they wield in the battles fought in the political ring? Choose a current or past visionary or miscreant that embodied the true spirit of a hero or villain and tell us what powers they used and what political topics you feel most strongly about. Can’t find a suitable candidate? Create your own by giving them a name, personality and list of powers. You can even include a sketch if you like! Whether you’re picking from the past or creating from scratch make sure to include the ultimate list of powers that will give your hero or villain the power to rule the political world! Receive scholarship up to $500. Ends November 14, 2008. Open to members of Brickfish.com who are legal residents of the fifty (50) United States, the District of Columbia or Canada (excluding Quebec), and 13 years or older.

Details at our free college scholarship search site.

Mail Bag

Nick writes in:

Mr. Penn,

I have a question about savings bonds. I have bonds I received when I was born that have been building interesting over the years. I am considering cashing them out to help pay for graduate school. However, Do you know if they are exempt from the FAFSA if they remain as is much like an IRA? Do you recommend I cash them in at a certain time of year?

If you don’t know personally, do you know of any documentation I can read on the subject?

Thanks a lot and love the podcast. I wish podcasts had existed in their current form when I was in 10th grade.

Savings bonds are treated as cash, actually, an asset. From the FAFSA:

Investments include real estate (do not include the home you live in), trust funds, UGMA and UTMA accounts, money market funds, mutual funds, certificates of deposit, stocks, stock options, bonds, other securities, installment and land sale contracts (including mortgages held), commodities, etc.

Thus, they are counted as a resource that can be liquidated to pay for education. However, unlike tax year events, they’re a cash resource, which means that as long as you spend or otherwise eliminate them prior to the day you actually file the FAFSA, they won’t be counted against you.

Are they still earning interest? Some savings bonds continue to accrue interest after maturity; others don’t. Consult a qualified financial planner (one may be available for free or nominal charge at a community bank or credit union) for more advice on minimizing the tax consequences.

Did you enjoy this? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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+ 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.

FAP871: State FAFSA deadlines, broadband scholarship, job references

August 28, 2008

FAP871: State FAFSA deadlines, broadband scholarship, job references

Listen now:

Student Financial Aid News
+ Forbes: “Corinthian Colleges is boosting its profits by increasing student enrollment, but the downside for the for-profit operator of North American colleges and trade schools is that it now expects an increased number of defaults,” Forbes reports. “‘During the fourth quarter, we implemented several changes to offset the loss of Sallie Mae privates tudent loans for students with subprime credit profiles. We established a new company-sponsored student lending program, ACCESS, and thus far, have arranged financing for the vast majority of students through Title IV, cash payments, ACCESS and other resources,’ said Corinthian Colleges Chief Executive Officer Jack Massimino. Corinthian said student loan defaults increased to 9.1% of revenue in the fourth quarter vs. 6.2% in the prior year. Revenue for the quarter rose 18.3% to $274 million, from $231.6 million a year earlier, below analysts’ expectations of $276.6 million.”
+ Boston Globe: For most students, college is a four-year rite of passage - a time to dabble in multiple subjects before settling on a major or a chance to spend a semester abroad - with frat parties sprinkled in between, That’s a luxury some students say they can no longer afford. Soaring tuition costs are prompting a small but growing number of students to compress their college careers into three years and, in the process, save their parents and themselves tens of thousands of dollars. The crop of early graduates often comes from middle-class families who might not qualify for need-based financial aid, college officials say.
+ Some policies adopted by local colleges can make it easier to graduate early. Suffolk University introduced online courses this summer to help working students squeeze in extra credits at their own pace. Berklee College of Music allows students who test out of classes to receive credits for those classes, at no charge. Like some other schools, Wellesley College offers classes during semester breaks.

Scholarship Update
+ Broadband Changed My Life Scholarship
+ The goal of the Alliance for Public Technology’s national Broadband Changed My Life! campaign is to raise awareness of the benefits of advanced broadband and encourage its universal deployment and adoption.
+ Now you can enter the new Tell the Next President Contest! Stories should be 50-300 words ideally, although they can be longer. The focus is to share the story of how high-speed internet access has changed your life and your family members’ lives, or how you would like to see broadband used to change the lives of others.
+ The deadline for entries is October 1, 2008. Three winners will be announced in late October and the prizes will be $1,000 for first place, $500 for second place and $250 for third place. A panel of APT Board members and staff will judge the entries. Early next year, a memorandum with the best contest entries will be sent to the new President and the first place winner will receive a trip to Washington and a ticket to an Inaugural ball.
+ Details at our free college scholarship search site

Mail Bag
+ Hi. My name is Cecilia and I began college last year without financial aid, which was a mistake. Now I am interested in filling a fafsa form out but my state’s(california) deadline was januray 1 to march 2,2008. Does that mean I am too late? And if my mother claimed me for her taxes in 2007 and she is a nurse but now I am living with my father and he can only pay some of the tution. Also he has been claiming me most of my life. Does that also mean I have to wait till 2009? Thank you for your time. Please try to help with my questions because I’m very confused.
+ File your FAFSA anyway - it’s free!
+ State deadlines are different than federal deadlines - at the least, you’ll be able to get some Stafford loans
+ State deadlines only affect state financial aid like the CalGrant
+ Whoever you lived with more than 50% of tax year 2007 is the claimant on the FAFSA for this year’s FAFSA
+ On January 1, the 2009 FAFSA opens up for the 2009-2010 school year and whoever you lived with more than 50% of 2008 is the claimant

Jobcast
+ Recommendations are critical to the success of a resume portfolio
+ Think of these as short references - testimonials
+ Gather them in places like LinkedIn
+ Gather them the old-fashioned way, too
+ Ask for recommendations diplomatically but earnestly
+ Ask for recommendations with details if possible and appropriate
+ Bad: John did a fine job as our summer intern. I’d recommend him for the future.
+ Good: John did a fine job as our summer intern, handling customer service issues and helping to keep our loan applications on track, especially when it came to calling back customers.
+ Great: John did a fine job as our summer intern, handling customer service issues and helping to keep our loan applications on track, especially when it came to calling back customers. He managed to call back a record 267 customers in just 10 days and closed 44 loans entirely by himself.

Did you enjoy today’s show? If so, please consider subscribing for free to get it delivered to you. Subscribing for free means you don’t have to remember to download it every day.
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Direct MP3 file download: Click here to download the MP3

+ 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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New eBook: How to write a killer cover letter!

June 5, 2008

Thanks to the help of the Financial Aid Podcast community, and the team of folks who gave feedback, I’m proud to announce the newest addition to our catalog of publications, How To Write A Killer Cover Letter, a Student Loan Network eBook. It’s hosted right now at the graduate career center at GraduateCenter.com, but you can download the PDF here.

Let me know what you think of the final version - love it? Hate it? Wish it had osmething else in it?