Have you come across any great articles lately? If so, then please share those links in the comments below. And one more time for those of you who love reading online articles, I strongly recommend using Feedly as an RSS reader. You can follow JerseySmarts.com on Feedly or you can add us to your existing RSS aggregator. Enjoy!

Greek State of Mind is growing!

With the start of the USC program at the end of last summer, I opted to stop all of my activities in whatever was left of Usable Web Solutions, LLC. Those activities included keeping several websites updated on a semi-regular basis and working to promote those websites via social media. Before completely stopping my activities with UWS, I was keeping at least one website regularly updated (“regularly” = almost daily) for about 20 years. Stopping those updates and moving away from my online business was a big change for me, though not an entirely bad one. The best part of relieving myself of my UWS duties was freeing up more of my time to focus on my other small business – a small, niche apparel company.

The apparel company that I co-own with another alumnus from my fraternity is doing very well, too. Our company – Greek State of Mind – had its biggest sales year in 2015. However, we are about 10 weeks into 2016 and we have generated more revenue this year than we did during the first 40 or so weeks of 2015. In the world of small business entrepreneurship, this is the type of growth that most companies dream of achieving. We are very happy with GSOM and are excited about expanding our product lines including a shirt celebrating the Monmouth University men’s basketball team and their Bench Mob.

And speaking of the Monmouth Bench Mob, I know that I speak for all Monmouth University basketball fans when I write that we are hopeful the NCAA selection committee will make the right decision and send the Hawks to the big dance this Sunday! #FlyHawks!

And that’s the end of my student loans.

And not only is there nothing due on the loan, but it looks like MOHELA actually owes me 15 cents! Ha ha!

In July 2006 I began repaying $120,603.31 in student loan debt. This debt was comprised of $106,070.00 in loan principal, $12,434.58 in capitalized interest, and $2,098.73 in closing and refinancing fees. I made the final payment on this debt in August 2013. My lenders included the United States Department of Education’s (USED) Perkins loan program, the USED’s subsidized and unsubsidized Direct Loan programs, the New Jersey Higher Education Student Assistance Authority’s NJCLASS program, CitiBank, and the Missouri Higher Education Loan Authority (the USED sold my loan to MOHELA in April 2012). In total, I paid $149,455.12 to these lenders including $120,603.31 in consolidated principal and $28,851.81 in interest. You can read my entire student loan repayment story on JerseySmarts.com.

Before I started an aggressive repayment plan in December 2009 it seemed like today would be impossible to realize. Think about the situation that I was faced with (and remember that many current large dollar student loan borrowers are still in similar situations): How could a guy manage to repay approximately $121 thousand in student loan debt with a bachelor’s degree in English and a master’s degree in Public Policy? Further, how could a guy repay such an astronomical figure much quicker than the 25 and 30 year repayment plans his lenders put him on? Worse yet, how could anyone who worked at a nonprofit organization, did not rely on outside financial support, did not live at home, paid all of their own bills (on-time), lived in the most expensive state in the union, and who felt a moral obligation to annually donate at least 10% of his income achieve this goal? To say that the odds were against this day coming as soon as it did is an understatement! This goal was nearly impossible for anyone to achieve.

It's over!

During my last “major announcement” post back in December 2010 I happily reported that I was done repaying the New Jersey Higher Education Student Assistance Authority (NJHESAA). The NJHESAA’s series of smaller NJCLASS loans were – after consolidation – one of the two major student loans that I was obligated to repay after graduating from a master’s degree program at Rutgers back in 2006. The other major series of smaller loans – also consolidated into a single loan – were from the United States Department of Education (USED) and their Direct Loans program. Ultimately, the USED sold my loan to the Missouri Higher Education Loan Authority (MOHELA) – the lender that received my final payment earlier today.

I also had loans from two smaller sources including $1,400 from the USED’s federal Perkins loan program through Monmouth University and $7,000 (plus an additional $1,071.52 in interest) from Citibank’s student loan program.

Just as I reported after paying off my NJHESAA loan, here are the stats as they pertain to repaying my USED/MOHELA loan (these figures include both the amount of the loan and the capitalized interest; also, these are my figures and may be a few pennies or a dollar or two off from what the USED/MOHELA keeps on file).

The list above shows the various USED loans that I consolidated into the final $59,020.15 loan that I began repaying in 2006. If you study that list above, there are three lines that will probably bounce out and hit you – my summer session in 2002, my part-time graduate semester in 2004, and my first year in graduate school as a full-time student in 2004 – 2005. The first two of these line items probably stand out because I did not incur any USED loans during those semesters. Why didn’t I take out any loans, you ask? Simple. As an undergraduate, the USED would not advance me any loans if I was a part-time student – that eliminated me from potentially getting a loan during the summer of 2002 (I made up the difference from NJHESAA that summer). And in the spring of 2004 I was still deciding if I wanted to apply to the Rutgers graduate program where I was a non matriculated student. Again, being a part-time student didn’t allow me to take out any loans from the USED.

Of course, I did wind up applying to the Rutgers program on a full-time basis and that first full-time year of graduate school is the other line item that stands out in the list above. This line item stands out because it is so much higher than the rest of the line items at a whopping $19,156.45. What in the world could I need that much money for in a student loan?! Again, the answer is somewhat simple: somewhere along the line I figured out that the USED would advance loan funds to pay for my “living expenses” while I was going to school full-time.

If there is one thing that I can point to that inflated my total student loan debt more than anything else it would be the ability to add my “living expenses” to my student loan requests. Even though I worked part-time at two different jobs during my undergraduate years and full-time during my graduate years (in addition to owning and operating a small business), I still included my living expenses in my student loan requests. Those living expenses including my monthly rent payments, cell phone payments, food money, automobile payments, and Lord knows what else. Unfortunately, I can’t tell you the exact amount of my student loans were allocated to these living expenses, but let me put it in perspective this way…

Pretty much all of the tuition I was charged during graduate school was paid either by me, my family, or scholarships. You read that correctly – I did not need to take out student loans to pay for my tuition at Rutgers. In other words, if you look at the list above and add up the line items titled Graduate Year One (2004 – 2005), Summer Session (2005), and Graduate Year Two (2005 – 2006), then you’ll have the total dollar amount of student loans that I requested for reasons other than tuition. After doing the math, you can see that this amount equals $32,043.37. Just to be clear, of the $120,720 that I took out in student loans, at least $32,043.37 were for expenses other than tuition. I won’t set this number in stone as the definitive total amount of loan funds that I received for non-tuition expenses because I also applied for and received living expenses (primarily rent costs) from the NJHESAA’s NJCLASS program, too.

However, to estimate that approximately a third ($40,420) of my total student loan debt was for living expenses and not tuition would be a pretty good guess. Pretty frightening, I know.

And yet today still arrived. From an above-the-fold cover story in USA Today in June 2006 to fully repaying my NJHESAA loan in December 2010, to a nice mention in an online story on USA Today in May 2011, to the milestone of having repaid $100,000 in principal, to today – it’s been an incredible ride. If you’ve been following my student loan story from the beginning, then I offer my heartfelt thanks for your patronage and willingness to read my repayment story to the end. For those of you who have added comments to these blog entries from time to time, I thank you for being a part of the conversation. If you’re one of the many folks who’ve e-mailed me saying that I inspired you to take a more aggressive stance in your own student loan repayment, then I wish you luck.

Quickly and efficiently repaying a student loan is possible; even if that student loan is $120,603.31 on day one and you wind up paying an additional $28,851.81 in interest over the life of your repayment. The great truth that I learned over these past few years is that if you want to do something, then you will find a way to achieve it. In other words, no one can stop you – except you.

And if you’re trying to repay an enormous student loan, then contact me and share your story. Good luck!

In July 2006 I began repaying $120,603.31 in student loan debt. This debt was comprised of $106,070.00 in loan principal, $12,434.58 in capitalized interest, and $2,098.73 in closing and refinancing fees. I made the final payment on this debt in August 2013. My lenders included the United States Department of Education’s (USED) Perkins loan program, the USED’s subsidized and unsubsidized Direct Loan programs, the New Jersey Higher Education Student Assistance Authority’s NJCLASS program, CitiBank, and the Missouri Higher Education Loan Authority (the USED sold my loan to MOHELA in April 2012). In total, I paid $149,455.12 to these lenders including $120,603.31 in consolidated principal and $28,851.81 in interest. You can read my entire student loan repayment story on JerseySmarts.com.

But aside from all of these books and reports I really like to read blogs written by everyday people who accomplish extraordinary feats. I have a small cadre of such blogs fed into my RSS feeder. Some of these blogs are written by people who have lost tremendous amounts of weight, others are written by people who have gone from a skinny physique or a chubby physique to winning bodybuilding competitions. Some of the blogs are written by guys who were introverted and wound up changing their lives to become social butterflies. Other blogs are written by people who have managed to travel around the world for an incredibly small amount of money before they were a certain age.

I don’t necessarily identify with any of these blogs or their writers because none of them really speak to my direct experience. In other words, at one point I lost 125 pounds so I already know how to accomplish that goal, I’ve never been an introverted person so I don’t need tips or pointers on how to get out there and meet people, and I’m not the biggest traveler so those lessons really don’t apply to my life. What I do enjoy about these blogs is reading the sense of accomplishment that these people achieve when they meet their goals. As someone who has met (and continues to meet) certain goals in my life, I understand how great that sense of accomplishment feels.

It’s awesome.

However, I’ve noticed a disturbing trend in many of these blogs. All of these amateur writers are missing commentary that speaks to a growing number of individuals in our country. Let me be more direct: not one of these bloggers, these self-professed self-help gurus, these accomplished weight loss success stories, these people who have overcome seemingly insurmountable odds, etc. have accomplished their major goals and retired a tremendous amount of debt.

While these bloggers build their own ego and create their own hype because they lost [insert large number here] pounds or because they traveled to [insert large number here] countries, you can’t find someone who has managed accomplish a major goal while saddled with a tremendous non-mortgage debt burden. And it’s like this all over the blogosphere. For example, I read a lot of guy blogs (those blogs focused on items of interest to guys in my age group). These blogs range in variety and type from guys who spend a lot of their time working out and talking about the best techniques for working out to guys who claim to have a lot of social success to guys who manage to weave the fundamentals of their faith throughout their daily lives.

All of the writers that I read on guy blogs eventually wind up writing an entry about how their readers can become better at [insert whatever here]. Well, the impetus for writing this entry was a piece of “advice” that I’ve seen pop up over and over again on these guy blogs. And that same piece of advice pops up on all of the blogs that I read – not just guy blogs. That piece of advice is that if you want to be the absolute best at [insert whatever here], then you absolutely cannot have any debt.

That’s right. I’ve read bloggers saying that if you want to lose weight, you can’t have any debt because you need the freedom to be able to spend as much time as possible working out instead of being stuck working one, two, or more jobs. I’ve read bloggers saying that if you want to increase the size of your social circle, you can’t have any debt because if you don’t have excess funds to do new and exciting things, how can you expand the number and type of people that you’ll interact with? I’ve even read bloggers who say that if you want to meet the type of girl that you think you’re most compatible with, then you can’t have debt because that debt weighs on you mentally and restricts your ability to see yourself with a successful girlfriend, fiancée, or wife.

But here’s the question that prompted me to write this entry…

Who doesn’t have some type of debt? I don’t mean that as a matter-of-fact type of question with the expectation that your response would be, “I guess everyone has some type of debt.” That’s not what I’m going for here. Think of the real answer to that question – who doesn’t have some type of debt? Well, you have independently wealthy people or those who come from tremendous wealth and don’t need to pay their own way through life. Okay. You also have those people who have worked their butts off and earned enough money such that they don’t have to carry any debt. Okay. And you know what? You might even find that people who are the exact opposite of these wealthy people also don’t have any debt. That is to say that those people who never took on college debt yet still didn’t graduate with a degree or those people who just graduated from high school (or not) and wound up living in their parents’ basement; the habitual underachievers out there.

Is there any other type of person who doesn’t have some type of debt? I really can’t think of any, but I would suggest that there should be a fourth category – those people who choose to write a blog focusing in depth about their success at achieving a goal other than retiring debt! After spending a few years reading some of these blogs I’ve come to the conclusion that people out there who accomplish what they believe are great things are not saddled with a tremendous amount of non-mortgage debt. They don’t have a significant amount of consumer debt and they don’t have a significant amount of student loan debt. They have that freedom that I referenced above – the freedom to not be tied down to one, two, or more jobs. And with that freedom comes the ability and flexibility to spend more of their time losing weight or working out or hanging out at local clubs or spending their time learning new hobbies or traveling around the world, etc.

They don’t know what it’s like to work an 8am to 6pm job with an hour commute wrapped on either side of that workday plus spending an hour each morning before you leave for the office working on freelance projects and several hours at night when you get home at night working a second or third job. And I specifically wrote that last sentence to begin with “they don’t know what it’s like” because that’s the problem that I’ve been having with a lot of the blogs that I read: the writers just don’t understand how self-righteous and, frankly, alienating they sound when they write their entries.

And here’s the prime example that I know so many of you out there have probably seen before… How many of you have ever read a weight loss blog or a weight training blog that condemns those who say they don’t have the free time to work out? Usually, the writer says that this is just an excuse and that you can make time to lose weight or work out if you really want to…

If you really want to? Really?

Are you fucking kidding me?

The only person who would write such an ignorant comment is someone who don’t wake up at 5am (exhausted) and then fall into bed at midnight after working the entire day to earn money in an effort to retire debt. Who would tell someone who keeps this schedule 5, 6, or 7 days each week that they are lazy or that they are the cause of their own lament because they don’t make time for working out? I know who would tell someone that – a blogger who has never had to try to tackle both [insert a personal goal here] and retire a significant amount of debt at the same time.

The reason why I wrote this entry is because I know I have a lot of random readers on this blog and I can track where some of you come from out there on the internet. Some of you are coming from some of these self-help, conquer the world type of blogs and that’s great. Believe me, I want to conquer the world and improve my health, wealth, and well-being just as much as those other writers. However, I live my life in the real reality – a reality much closer to where you probably exist, too. I understand that it’s hard to train to climb Mount Everest when you have a six-figure student loan debt crushing you and dictating nearly every move you make. I understand that it’s really hard and really difficult to lose weight when you’re working 16 – 18 hour days (or longer). I understand that it’s difficult to put the proper amount of time and effort into increasing your social circle or even finding someone worthwhile to date when you’re so focused and, unfortunately, controlled by crushing levels of consumer or student debt. I understand where you’re coming from – I get it.

And I don’t think that you’re lazy. I don’t think that you’re anti-social. I don’t think that you’re making excuses. Not at all.

What I do think is that you’re stuck in the same rut that the majority of population is stuck in – you’re forced to do things to retire debt (or generally improve your financial position) that prevent you from fully engaging in the other activities that you want to engage in. You’re not going to find this understanding on those self-help blogs or the guys’ blogs or in many other places out there because the truth is that those writers simply don’t understand. In about 6 years I’ve paid off nearly $100,000 in student loan debt and I have another $21,000+ left to repay. I repaid that amount while losing a tremendous amount of weight, gaining most of it back, losing much of it again, and gaining some of it back again. Professionally, I work around the clock; not just a 9-to-5 type of job. Believe me, I understand the burden of debt and how it really does dictate what you can and cannot do with your life.

And, like many of you, I’ve sat there and listened to people in my personal and professional life ask me why I don’t [insert whatever here] while I’m young? These people also have no idea what it’s like to be suffocating under crushing consumer or student loan debt. Folks constantly ask me why I don’t go away on vacation (my last real vacation was back in 6th grade). Well, I don’t go away on vacation because I can’t imagine spending a thousand or two bucks on vacating reality while I still owe money on my student loan. That would be financially foolish. People ask me why I don’t go out and find a “nice” girl to date (usually, their definition of “nice” is different than mine, but that’s another entry). They don’t understand that when you work around the clock, you don’t have much time for socialization outside of your standard circle. And, to mix a little bit of a guys’ blog mindset here, they don’t understand that the girls you meet while you are burdened with immense debt, while you are out of shape, or while you are working around the clock are typically not the girls that you want to marry! I assume it’s the same for the ladies out there looking for a man.

To sum it up, I just warn you all to read these self-help, self-improvement blogs for purposes other than examples to follow. Chances are very strong that the writer you’re reading doesn’t have the same life experiences as you do. And chances are even stronger that they never had to tackle an immense amount of undischargeable consumer or student debt before, during, or after they accomplished whatever it is that made them an amateur expert.

Be rational, believe in yourself, and tackle your debt first. Once you remove that crushing yoke, then focus on your health (losing weight, gaining muscle, etc.), and after that you can focus on your social life. There’s no way around doing what makes sense and this is the path that I really believe makes the most sense for the most people out there.

Now… back to the grind!

Apparently, I want more of this in my life...

During my very pleasant, upbeat conversation with the Director of the program, I was pleased to hear how the topic of Curriculum Studies includes how spaces and places impact a student’s ability to learn. In other words, this program will allow me to do some research on the link between what a classroom looks and feels like and student achievement. There are already a lot of folks looking at this issue, so I expect that I will have a lot of trouble finding research on the topic. Ideally, I’ll be able to research how charter schools create learning spaces that positively impact their students. Part of that research would also have to show how failing charter schools design their classrooms and facility culture – which could be an interesting study on its own.

Sometimes I know that I’m huge nerd at heart because when I think about researching these types of issues, I’m excited about the possibilities. I mean come on! Who thinks about charter school classroom design and its relationship to student achievement and thinks, “Oh my God! What an awesome subject!?”

Hey – I just like reading and researching in a way that many people do not. And that’s not a judgment call on anyone and their academic abilities. Instead, it’s just a public confession that I like going to school and learning new things.

And that’s about it, folks. As I work to figure out if/when I want to apply to this program, I’ll keep everyone updated. There are five classes in the program so I’d probably just take one this spring, two over the summer, one next fall, and one the following spring. No big deal. I’ve got some existing travel, professional, and social commitments that would impact my ability to attend some classes this coming spring, so that’s something that I’m trying to think through right now. One thing that I’m not thinking too much about is the cost of the program. Why? Well, as an alumnus of the local college who already holds a Masters Degree, I get a 25% discount. Plus, I’m going to try to get my company to pay for a small portion of the program costs, too.

Anyway, we’ll see how it goes. Could be a lot of fun!

Click here to expand

Source: Accredited Online Schools.org and other resources

Pretty interesting stuff, huh? It’s amazing how many different ways you can break down the numbers and show these statistics.

Despite the proposal creeping up numerous times by so many people over the years, there has never been a solemn attempt to include personal finance as an integral part of the high school curriculum. There is no doubt that personal finance has always been an integral part of our daily lives. Children will have more command over their finances if they grow up acquiring knowledge about personal finance while in school.

These days millions of children leave school without any knowledge of personal finance. Even, many leave the University without a single class on the banking and fractional banking system, function of the Federal Reserve, currency devaluation, compounding interest and mortgage interest. It is really awful that the education system has now become a platform for job rather than proper knowledge and entrepreneurship.

It is quite evident that some fundamental things are wrong within the system. A question might arise that in whose interest the government is not employing personal finance education in schools. Again best-selling personal finance and business author, Angie Mohr says, “At the beginning of another school year, we find once again that our kids are learning more about theory and less about practical financial concepts. Our kids can explain the Pythagorean Theorem but can’t make change from a $20 bill. They can memorize passages from Shakespeare but don’t know how to compare the value of two items in a grocery store.”

However, as a single optimistic step toward implementing personal finance education as an integral part of our education system, President Obama has declared April Financial Literacy Month after witnessing years of personal finance decline.

It is obviously a good sign that President Obama has declared April Financial Literacy Month. However, that is not going to solve the whole lot. There are still some robust steps need to be taken to ensure personal finance classes for teens about how to mange their money.

The Federal government and the state machineries should jointly take initiatives to ensure compulsory teaching of personal finance in the States. Further, the parents should also be aware of the importance of personal finances in their children’ life. If parents compel the local schools and state governments to take positive steps in this regard, there can be a positive outcome. The government must be compelled by showing examples of the poor condition of the economy and the tearing consumer-debt that resulted from the lack of knowledge of personal finance among common people.

However, some pioneer schools have already started to figure out personal finance as a subject to be taught to teens. According to a study by the national Council for Economic Education in 2009, 13 states are required at least one semester of personal finance instruction (see the requirements in your state).

Now it is time for other states to include personal finance education into their core curriculum. Further, according to a June 2010 Capital One study, 45% of high school graduates are even not ready to manage their money after their graduation.

Author’s Bio: Patricia Briggs is a guest columnist, blogger, author for various websites and communities including Oak View Law Group, CCHFA, CSCDA etc. She has completed her Post Graduation in Social Welfare from California University and is currently working with a reputed bank located in California. She loves to write articles during her free time especially on topics like bankruptcy, debt settlement services, investment opportunities, monetary policies, etc.

I’m glad that there are more movies and, specifically, documentaries coming out about what’s going on in the inner cities with respect to education. One of the better movies to come out is The Cartel. And while I understand that there are two sides to every story, my gut reaction to the entire education reform and the school choice movement is that one option works and one option fails. Put all of the phony baloney math and statistics aside and look at the results – the overwhelmingly vast majority of charter schools in inner city school districts (and the suburbs for that matter) are tremendous successes while the traditional public schools are failures.

The Cartel tries to give us some reasons why this phenomenon occurs. Here is some information that director Bob Bowdon posted on The Huffington Post regarding his movie and education reform:

Education status quo defenders routinely call school choice “simplistic,” and they mean it in the bad way.

Their bullet points go like this:

The problems of American education are dizzyingly complex. There are issues of absentee parents, bad nutrition, and cultural breakdown. There’s an entertainment culture beckoning our kids to hours of videos games, television shows and gross out YouTube videos. Throw in a diminished economy where even some of the best students can’t find work after graduation, and you get a whiff of the enormous complexity. Why on earth do these reformers believe that (Insert: school choice, charter schools, vouchers, scholarships) would be some magic pill to cure this swirling array of ills? These fixes are simplistic.

Indeed, for many of these people, the very concept of “complexity” is comforting. They believe the best solutions to social problems strike ornate compromises between a wide variety of stakeholders, each of which need carefully designed provisions to preserve their interests.

If they hear news of a 2,000 page health care bill passed by the House (that most Representatives don’t read), they shrug and say, “What’s the problem?” If the 9,400 page federal tax code has obvious loopholes, they want to add more pages to plug them. If a 165-page teachers’ contract spells out the Monday through Thursday workday as six hours, 57 minutes, and 30 seconds, and the rest of us say, “are you kidding me?” — they say, “so?”

Running deep in their psyches: “Complexity is for smart people.”

What they forget is that all the great causes in American history were based on simple questions. Should slavery be legal, or not? Should women have the right to vote, or not? Should we remove our troops from Vietnam, or not? Of course entire libraries of scholarship can be collected about intricacies of these issues; yes, we’re aware of that. The point is that the decisions can all be boiled down to elegantly uncomplicated questions.

Parental school choice, in fact, is a simple concept, and just like movements for abolition, suffrage or withdrawal from Vietnam, its simplicity doesn’t make it a bad idea.

I encourage you to read through Bowdon’s entire post over at the other website. And if you have the inclination, I encourage you to buy or rent The Cartel to see what’s going on in the school choice movement today!

Let me make this very clear, folks. There is not one thing in either of these videos that is defensible. Not one. And now, for your viewing pleasure disgust, the hateful, grotesque New Jersey Education Association as presented by the same guy who brought us the ACORN videos last year.

Feeling sick to your stomach yet? Look folks – enough is enough with the NJEA. This hateful organization needs to be dismantled and the local teachers unions need to be empowered. Just like any good bureaucracy, the people at the top of this chain have forgotten their mission and values and need to be removed. Let the local unions handle the local issues – not some filthy, unethical, immoral group of scum in the NJEA’s Trenton office.