The blog Broke Grad Student was created by a former med student in order to share experiences and learnings from med school. In this blog, the writer talks about college loans and other issues about college students’ financial concerns. The blog also gives advice and tips on how to deal with money-related issues in college based on the blogger’s own experience.
The blog’s good points
One thing I like about the blog is its topics. The blog is actually very useful to many graduate school students who are in a dire financial situation. The entries and the tips given are practical. One can actually use these tips when they’re in a difficult situation. An example of a very useful entry is Building a Car Fund for College Students. This entry provides practical tips on how to build a car fund if you’re a college student. In terms of the writing style, I think it’s good. The writer is consistent with the writing style and tone. I find the blog easy to navigate. There’s not much problem when I am locating the home page or looking for the older entries. The blog is user-friendly.
The blog’s weak points
One thing I don’t really find impressive about the blog is its very simple layout. Although a simple layout makes this site easy to navigate, I still think that an excellent site should not be too simplistic. The design is also a bit boring. It’s obvious in the choice of design that the blog owner strives to render formality and a professional-look to the site. I guess it is not that bad since a formal appearance solicits trust from the visitors. However, I do believe there is still room for improvement when it comes to the design and layout of this site. A little more color and perhaps, a logo could add appeal to this site.
Graduate school education can be expensive. Because of the cost of tuition, may graduate students opt to get student loans. While student loans may seem a godsend to students with limited financial resources, a significant number of graduating students are burdened with thousands of dollars in debt. So, paying off students loans can be pretty tough on the new graduate. There are many ways to pay for the debt, however.
The deferment option
Paying off thousands of dollars is difficult enough. To do this when you are unemployed, or just plain economically troubled, is a worse scenario. So, if you have not yet found a stable job to pay for both your debt and your daily necessities, you can request to postpone paying for them or apply for deferred payment. This is not to say you are completely abandoning your responsibility to pay; you are just asking for more time.
Longer loan term
Another way to extend your deadline of payment is to ask for a longer loan term. More likely, this will entail higher interest rates, but this will also enable you to pay less per month. You may be needing a longer loan term plan if you are not yet earning enough.
Lower loan rates
When you are still picking loan offers, carefully study the terms you are agreeing to. Included in these terms are the loan rates. Make sure that you choose a good loan term – one that is offered at low rates. High interest rates may leave you with so much more to pay off even when the payment for the initial loan amount has already been done.
Debt repayment services
If you have many student loans to pay off, you can hire the services of companies that specialize in debt repayment or consolidation. You will not worry yourself about scheduling payments; your debt repayment service will be in charge of this.
Community work
Do you know that volunteer work can erase your student loans? Well, that is the good news for graduates who can no longer think of any other way to pay their loans. You may get grants by joining organizations, such as Teach for America and Americorps. They will be paying off your loans for you. Do your part by fully and sincerely contributing your time to the organization of your choice.
Photo Credit : debaird
