These days, common knowledge suggest that any Republican will cut taxes, any Democrat will raise them. And this election year is no different. Sen. John McCain has said that there will be no new taxes, only tax cuts, under a McCain presidency. Obama, on the other hand, says that he will only raise taxes on those making the most amount of money–those who benefit most from our economy should also invest the most back in, his logic goes.

But how much of this is talk and how much might actually result in more cash in your pocket? Luckily for us all, the Washington Post has put together an easy-to-read chart that tells you exactly what each candidate’s proposed plan means for your wallet. The information in this chart comes from a recent analysis of the Tax Policy Center, a project from the Urban Institute and the Brookings Institution. Read More »

Believe it or not, free money for college isn’t only awarded to Einsteins and star athletes ‘ or those of you poor people who qualify for financial aid. There are plenty of opportunities for the ‘average’ college-bound student to take advantage of scholarship money. The biggest mistake to make, is to sit and wait, and not do anything about it in the hopes that someone will knock on your door and say, “Need some money?”

I just graduated in May, and now I am starting to pay back student loans. Let me tell you, it sucks. Having received my degree in Journalism from UCLA, I thought I would be in a good position to pay back my loans. Yeeeaaahhh…not so much. So now, after 4 years of tuition, room and board, I owe just over $115,000.

People say it all the time, but I will say it again…if I had it to do all over again…I would try to avoid the $1000 a month loan payment.

Here’s some common sense advice:

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Planning a trip this summer? Short on cash? Here’s a quick guide to make sure you get the biggest bang for your buck.

1. Shop Around.
So-called “value” sites like Travelocity, Expedia, and Orbitz give you the best price for plane tickets–but have often been paid by airlines and hotels to promote their fares and rooms above all others, screwing you over in the process.

Instead, use an aggregator, like Momondo or Kayak, that searches hundreds of travel websites in order to find you the best deal. These Sites also feature flights from smaller airlines and airlines, like Southwest, that don’t actively participate in online travel booking sites. Also, aggregators won’t jack you for a fee, like most “value” travel sites.

2. Skip the Hotel.
Really, most hotels are the same. Except for rooms whose per-night price could pay for last semester, you won’t notice much of a difference, I promise. So, trade in the five-star for one of these inexpensive (but way more fun!) options:

Hostels - For international and domestic travel alike, hostels kick the crap out of everything else. They’re cheap, relaxing and extra fun–plus, you get to mingle with countless hotties from around the world. You may not have the privacy or luxury of a hotel, but it’s worth the “sacrifice.” Read More »

For many college-bound students, the expectations of higher education are eclipsed by the large financial commitments that come along with it. With tuition costs rapidly rising faster than financial aid awards, more students are coming up short in their financial aid packages. The gap in the financial aid awards letter appears when the student’s expected family contribution (EFC) in addition to the school’s financial aid package don’t match the cost of the university's attendance. This gap is shown as 'unmet need'. One way you can meet unmet need is to appeal the financial aid offer. If the college’s package of loans, grants, scholarships and work-study are not an adequate amount, the student can meet with the financial aid office. You can write a letter to request a meeting and explain why the school should consider adjusting your aid offer.

Some helpful tips for financial aid appeals and beyond:

1. Organize documents for the financial aid office to assess in defense of your case, predominantly conditions not displayed on your Free Application for Federal Student Aid (FAFSA.)

2. Make it known that your family’s financial situation has significantly changed since you filed your FAFSA (i.e. death, unemployment, medical expenses).

3. Every school has a different stance regarding financial aid appeals. Some schools like to see the aid packages offered by other schools you’re considering, while others might be put off by its inclusion.

4. Be considerate when asking for extra assistance. Approach the aid officer as a supporter, not an enemy.

5. Look for scholarships. Search websites and offline sources. Check with your local library, organizations in your community and your employer for additional scholarship opportunities.

6. Think about a part-time job. If work-study isn’t part of your aid package, ask if it’s an option. Explore the campus and nearby communities to find other possible employment choices.

7. Get the most from your loans. Make sure you have access to the maximum you can in subsidized loans. For instance, Stafford loans allow dependant undergraduate students to borrow up to $2,625 their freshman year, $3,500 their sophomore year and $5,500 for each remaining year.

8. If you still don’t have enough money to cover the gap after increasing your subsidized loans, you can contact a private lender for a supplemental loan. This loan will not contain all the rewards that a Stafford loan carries, but it could get you to your dream school.

9. Diminish your expenses. Search for ways to decrease the cost of attending school. Is the school in an area where you might be able to live at home or with relatives? Can you come across the same academic goals at a less costly university? Think about accelerated programs where you can complete a degree in three years instead of four. Contemplate going to a community college for two years, then transferring in to a four year institution to complete your degree.

For more student loan information, please visit: www.FinAid.org, www.Fastweb.com, or www.fafsa.ed.gov