Bruce’s Poor Man Survival Bulletin
A Digest of Urban Survival Resources
For Independent Minded People!
ISSN
2161-5543
"The ruling class has the schools and
press under its thumb.
This enables it to sway the emotions of the masses."
-- Albert Einstein
From The Frozen Dog Ranch Files
In
This Issue:
1. Student loan repayment tips
2. How much land does it take to be self
reliant-free ebook
3. How much government do we need?
4. A hidden shelter inside your home
Student Loan Repayment Tips for the
Life of Your Loans
Student loan debt is another financial crisis which
threatens our future. Tuition costs are
through the roof without any reasonable explanation and there are few decent
jobs for grads who have an average debt of about $25,000 upon graduation. Congress is too stupid to recognize, let
alone offer viable solutions to this pending crisis.
It
is often said that the most effective debt management strategy is to be
debt-free. But, in order to pay for
your college education, you may need to take out student loans.
Recent college grads today face some of the worst job
prospects since the great depression. A survey by the Associated Press found that over 50
percent — about 1.5 million — are either unemployed or in jobs that don’t
require a college degree. The AP survey found that recent grads were “more likely to be employed
as waiters, waitresses, bartenders, and food-service helpers than as engineers,
physicists, chemists, and mathematicians combined. There were more working in
jobs such as receptionists or payroll clerks than in all computer professional
jobs. More also were employed as cashiers, retail clerks, and customer representatives
than engineers.”
The Federal Student Loan Program brings in a surplus of $184 billion
for the Federal Government. Call me what you will, but I don’t think that
government should be a profit making enterprise, especially off students.
Student
loans are applied by many people these days.
It is for the hope that student loans can greatly support their
education. Well, that is primarily the
purpose of student loans, but there are some instances that getting student
loans is what lead people to be buried deep in debt. This is common among those who failed to
repay their debts or those who actually escape from their obligations.
Now,
planning for successful repayment involves a lot of considerations. The planning should start before you place
and strike your pen on your first promissory note. Just as you are making a commitment to your
career by way of investing time and money in higher education, you should also
make a commitment to your financial future by way of effectively managing your
student loans from the beginning.
Here
are the most recommended tips and tactics that may help you handle your student
loan debt effectively and repay the loans successfully.
Tip
#1: Do
Your Own Research
Always
note that not all loans are the same.
Some of them, such as the ones provided by the Indiana Secondary Market
for instance, offer benefits during school as well as after graduation in the
form of repayment incentives, while other do not. They will pay the 3 percent origination fee
normally charged on Federal Family Education Loan Program (FFELP) loans, and
this process actually means more money for the books, school supplies and
living expenses. And, after you graduated,
there is a chance that you will be qualified for reduced interest rates
especially when you ready your payments up on automatic withdraw. So, with the differences in student loans,
it is necessary that you do your research before signing the first promissory
note.
Tip
#2: Pay
Attention to the Mail
Typically,
every borrower receives important information regarding the student loan he or
she took out. The mail usually comes in
before, during and after school. So, it
is somehow important that you read all of the materials you receive carefully. In case, you have questions, the source of
the materials is available to welcome you with your questions. Don’t hesitate to ask, and never ignore the
correspondence or you may miss out a very vital deadlines or details about your
loans.
Tip
#3: Be
Organized
When
taking out student loan from a particular institution, it is always best to
save all of your student loan documents and correspondences. This makes you aware of what exactly you’ve
agreed, what is expected from you as a student loan borrower, and how much you
have borrowed. At the start of the
student loan process, you may find it unnecessary to keep all the documents,
but when the repayment period is approaching, there is a great possibility that
you may refer to some or all of these documents.
To
makes things easier for you, begin by setting up an easy to use record-keeping
system where you can store your student loan documents and correspondence. As you may know, there are a number of books
and software products on personal finance to help you get started. Whatever you may use, whether file folders,
binders, portfolios, or envelopes, it is a good idea that you set up one folder
for every type of loan or account you have and keep the items sorted
accordingly.
Here
is what you should keep:
Important
documents like your student loan applications, promissory notes, disbursement
and disclosure statements, as well as loan transfer notices.
Copies
of all correspondences between you and your student loan lender, loan holder,
and/or servicer, including your school’s financial aid office.
Addresses
and telephone numbers of your lender, loan holder, and servicer. These must be maintained up-to-date.
The
name, the date and time of the conversation, as well as a summary of what you
have discussed. These must be considered
especially when you are speaking with anyone regarding your student loans as
these may be valuable for future reference or clarification.
Also,
when setting up your record-keeping system, be sure that it is comfortable to
use. This means a system that you will
find easy to maintain over the life of the loan. This record-keeping system must also be
secured from theft or fire. Many experts
also suggest that you should keep all your student loan related documents and correspondences
until all the education loans you’ve taken have been fully repaid.
Tip
#4: Be
present at All Required Entrance and Exit Sessions
When
you take out student loan, you will be required to complete student loan
counseling sessions. This is often
considered when you first obtain the loan and upon graduation. Also, it is worth noting that some schools
these days offer this on-line and the sessions will not require a great amount
of your time. However, they will provide
you with a great deal of information on your right and responsibilities as a
borrower.
Tip
#5: Learn
to Manage Money like an Expert
It
has been said that if you live like a professional while you are in school, you
will live like a student once you’ve finished your degree. In other words, it is important that you know
very well how to handle your money while you are attending school. This will help you lessen the total amount
you end up borrowing, and in turn, the amount you will responsible for
repaying.
Here
are some of the tactics that are worth considering:
Develop
realistic budgets for while you are attending school and even after you
graduate. This will allow you to borrow
not more than you need, giving you a great chance to repay your loans.
Learn
to live as cheaply as you can. Always
remember that you are just a student.
You will enjoy a more comfortable lifestyle once you’ve graduated
especially if you lessen your borrowing while you are in school. Some of the most recommended ideas for how
to be thrifty include getting a roommate, renting a movie instead of going out
to the theater, as well as bringing your lunch from home instead of eating
out. Be thrifty as possible.
For
any credit card bills you receive, try to pay the full amount due.
Establish
a budget for yourself and follow it.
While you are in school, it is important that you know how to resist the
urge of using credit cards or your student loan funds to purchase things that
are included in your budget. Don’t just
buy unnecessary things.
If
possible, explore work-study or other part-time employment. As often said, it may give you an opportunity
for you to study or obtain valuable professional experience, other than help
cover overheads.
Tip
#6: Maintain
at least Half-Time Enrollment
Considering
a half-time enrollment is highly necessary in order for you to qualify for an
in-school deferment. The half-time
enrollment normally takes six credit hours.
Regarding your school’s requirements for half-time status, see your
financial aid officer.
Tip
#7: Take
Advantage of Tax Savings
Some
of the student who takes out student loans qualifies for tax credits. To see your own status, check with your tax
advisor. The credits are actually based
on your qualified tuition payments, and they can help reduce the amount of
Federal tax you pay. Now, if you are
paying interest on a student loam, you may also be able to take a deduction on
your Federal tax return for those interest payments. Therefore, to obtain the full benefit of the
credits as well as the deductions, grab the opportunity of employing the
additional tax refund to pay down your student loan debt, or perhaps to handle
your educational overheads.
Tip
#8: Repayment
Tips
As
you enter the repayment period, note that being aware of your student loan
obligations is very crucial. This is
where the student loan default usually happens.
It occurs when you fail to pay back the loan as agreed or meet the other
terms of your promissory note. The
promissory note for each of the loans must then be referred prior to your
graduation or before you leave school so that you know what your rights and
responsibilities are in repayment.
Here
is what you should do as you enter the repayment period:
Send
your education loan payments when due every month, for the full monthly payment
amount or more. This must be done
regardless of whether or not you receive a bill.
Note
and understand the repayment options provided by your student loan
lenders. With some available options,
there is a possibility that you can lessen the total cost of the loan by making
a high monthly payment. Other options
may even lessen your initial monthly payments and may make it easier for you to
pay back your leans early in your career.
Understand
the deferment as well as forbearance. In
case you need them, just learn to exercise your options.
Remember
that the loan consolidation and its repayment options have its pros and
cons. So, understand them.
Keep
your school, lender or servicer informed of your whereabouts. Contact them immediately if you change your
name or address; have questions about billing statements; have problems making
your scheduled payment on time; or if you want information on or application
for deferment or forbearance.
Read,
note and understand all the correspondence you receive from your student loan
lender, loan holder, or servicer. And,
respond them promptly if asked to do so.
For
Further Information
If
for instance you need further information regarding your student loans, always
remember that the financial aid staff at your school is probably your most
important resource. However, there are
also some consult publications from federal and state governments, lenders and
scholarship granting organizations, and financial ad guidebooks that are available
from your local bookstore. They are
great enough for you to start your own search.
Low-Wage Jobs In America Have Soared Since The
Recession
In a
reversal of centuries of growth and opportunity, the U.S.
has become a Crappy Job Nation..."
During the recession, jobs were lost all over the place.
But mid-wage occupations (hourly wages from $21.14 to $54.55)
were decimated, according to an
analysis by
the National Employment
Law Project, a worker advocacy group. Neither mid-wage nor
high-wage positions have returned to their recession levels.
But low-wage jobs have soared."
"There are now 7.3 percent fewer mid-wage occupations
than there were in 2001, compared to 8.7% more low-wage ones".
http://www.businessinsider.com/are-we-becoming-a-country-of-terrible-jobs-2013-7
Among workers ages 40 and 50, nearly half
fear the financial consequences of a critical illness-compared with just 29 percent who rate dying as their biggest concern,
according to a new study.
PM’s
Roundup of Useful Resources…
The
industrial age is over, so why are we still punching in?
Read more...
Here
is a link to the free e-book on "How
Much Land Does It Take To Be Food Self-Reliant". It's a quick and easy
read - and you'll know what you can do with the land you have right now.
Click here and download the e-book.
www.GrowYourOwnGroceries.com/free-ebook_on_land
Fun
stuff for families with kids
“Now that the 4th Amendment is no
longer a guarantee against broad government spying, the floodgates have opened for
tech companies to give users their privacy back...Unsene currently
offers encrypted web messaging, video calls, and file sharing — essentially, an
alternative
to Skype.” Read more here: http://unsene.co/techcrunch
Facebook Timeline Manual+Resource Guide
& 2013 Social Marketing Report:
Using Social Media to Grow Your Business…find these valuable free
reports in our DemoTrends Folder at:
Two Drexel University students developed a
wind-harvesting concept which would exploit the wind whipping through “concrete
canyons” between buildings and skyscrapers in large urban centers. Their
concept involves a system of wind turbines that could be installed in streets
and spaces between buildings, using flexible sails to divert otherwise
turbulent winds into a more useful stream.
The Nanny State-We love our government
TSA: Pay More and We’ll Grope You Less
The government is expanding the ways airline passengers can enroll in an expedited screening
program that allows travelers to leave on their shoes, light outerwear and
belts and keep laptop computers in cases at security checkpoints.
Under the Transportation Security Administration’s Precheck
program, only travelers who were members of the frequent flyer programs of some
air carriers were eligible for expedited screening. On Friday, TSA Administrator
John Pistole said beginning later this year U.S. citizens will be able to
enroll online or visit an enrollment site to provide
identification, fingerprints and an $85 enrollment fee.
The
Parting Thought – Not to worry in the land of the free!
How government
dominates our life – time for an overthrow…
It
was just last June in this space that I reviewed Nullification, by Thomas
Woods. It showed how, over the course of American history, states and citizens
successfully thwarted federal usurpations of power. It since has become a
guidebook used in many state capitols.
He
details how, as he puts it, "the federal government has, in fact, been an
enemy of the people’s welfare, and that the progress in our living standards
has occurred in spite of its efforts. [The government] pits individuals, firms,
industries, regions, races and age groups against each other in a zero-sum game
of mutual plunder. It takes credit for improvements in material conditions that
we, in fact, owe to the private sector, while refusing to accept responsibility
for the countless failures and social ills to which its own programs
have given rise."
That’s
the most accurate description of the federal government that I’ve ever read.
He
describes an economic and social "crash" that is inevitable: By 2020,
according to the Congressional Budget Office, interest payments on the national
debt will be $925 billion a year – assuming the economy recovers, which it
might not.
Future
liabilities for Medicare
are $96.5 trillion. Of that, $19.4 trillion comes from Medicare Part D, the
prescription drug program imposed by President George W. Bush, whom some still
call a "conservative."
The
debt the federal government has run up in our name is $200 trillion, according
to Boston University economist Lawrence Kotlikoff, who thinks some relatively
painless reforms could improve matters. "The truth is, there are no such
reforms," counters Woods. "If there were, they would have been
implemented long ago." That $200 trillion comes down to $64,516 owed by
every American, even babies born today.
Woods
also shows how the massive military spending of recent decades has debilitated
the economy by diverting scarce production from consumer goods, much as
happened to the old Soviet Union. The end of the Cold War in 1989 saw a small
decline in defense spending. But that was reversed after 9/11. He details how
the machine-tool industry’s heavy reliance on Pentagon contracts severely
retarded its ability to innovate in producing advanced machines, allowing first
the Europeans, then the Japanese to dominate that sector. Woods warns that
"the more an industry caters to the Pentagon, the less it makes production
with the civilian economy in mind."
More at:
Support
the Revolution – Make a Donation to the Poor Man today!
“Until the next
revolution”, the Poor Man
Much of what the Poor Man
does is to promote the concepts of self-reliance, a voluntary society and economic independence --
writing articles, giving talks, maintaining blogs and an educational website --
he does for free. Donations made to support him in these efforts are much
appreciated.
Keep our services free-Check our
Resources
Free – Updated Sideline Income Resources and Tools
Get the No BS
– Ready for Anything Survival Files Download-Now includes…
Home Prepping Database Program
This
software will assist you and your family in what and how many supplies you will
need when you will need to lockdown in your home until things settle down
A Shallow
Planet Production
