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05.29.09 | Inmates Go To College

Posted in Uncategorized by David Bonvie

This is an article from the New York Times about Marymount Manhattan College (my alma mater) and its program to help inmates get college degrees. When I went to Marymount this program had just been developed and a few of my teachers taught at the prison as well. I always thought it was a great idea to give these women something more to live for…whether they are getting out of prison soon, or they are in there for life. In my opinion, everyone deserves a second chance, and this program without a doubt helps these woman succeed in the real world once they are released; it gives them hope and it gives them direction. I applaud the professors who take extra time out of their life to travel to the prison and teach these women. Now the next step would be to offer these women the opportunity to get their graduate degrees in prison…it’s possible right?

Valedictorian Knows What Future Holds
Thursday was graduation day for Cathy Watkins. She received a bachelor’s degree in sociology from Marymount Manhattan College.

Ms. Watkins did so well in her courses that she was named the class speaker. She set her speech on the lectern and put on her reading glasses. At 41 — a grandmother of three, no less — she was not the standard age for a graduate.

Much of what she said would sound familiar to anyone who ever sat through a commencement ceremony. “One person can make a difference,” she told her fellow students. “Let that difference start with you.” Afterward, she joined her classmates and visiting relatives for lunch.

And then Ms. Watkins returned to her normal life, locked up behind the walls and concertina wire of the maximum-security state prison for women in this Westchester suburb of New York City.

She has been here for 12 years. She is likely to stay here for a long time, having been found guilty of a 1995 murder in Manhattan. She didn’t do it, she said in an interview. But “innocent or guilty,” she said, “you can still grow to be a better person.”

“Even though these walls can restrict our physical movement,” she said in her valedictory, “they cannot restrict our imagination, nor our connection to the outside world.”

In some ways, a commencement exercise inside prison is much like any held on the outside. The graduates wore caps and gowns. They filed in and out of the Bedford Hills gym to Elgar’s “Pomp and Circumstance.” Their worthiness was affirmed by a guest speaker, Lanie Robertson, a playwright. “You each have your own spark of celestial fire,” he told them.

But how many ceremonies have you gone to where the robes hide state-issued green uniforms, or where the proceedings are interrupted and the graduates told to stand so that the guards can count them and make sure no one has slipped away?

At how many commencements can you say with confidence that the graduates enjoy the unqualified support of every one of their mates? At Bedford Hills, there was no such thing as polite applause. Dozens of inmates attended, and let out enormous cheers and whoops for each woman who walked on stage. It was as if every diploma was a victory for them all.

Thirty women graduated: 5 with bachelor’s degrees, 9 with associate’s degrees and 16 with high school equivalency diplomas that qualify them for college-level work.

Marymount Manhattan, on East 71st Street, has conferred degrees here since 1997 in collaboration with six other schools. “What better deal there is for the people of New York State, I simply don’t know,” said Judson R. Shaver, the college’s president. “The recidivism rate for women who graduate in our program, as far as we know, is zero.”

A 2001 studyby the Graduate Center of the City University of New York showed that Bedford Hills women who took college courses were far less likely to land back in prison than those who skipped the program. Overall behavior inside the prison improved. “If you want your degree, you have to stay out of trouble,” said Aileen Baumgartner, the program’s director since 2002.

IN a prison with about 800 inmates, Ms. Baumgartner had 175 students this semester. For those who stay in the program all the way, the road to a bachelor’s degree is long. Only a few courses may be taken each semester. Ms. Watkins needed 11 years to get her degree. Monica Szlekovics needed 10.

“I took my time,” Ms. Szlekovics said, adding with a glint of irony, “I have a lot of time.”

That she does. She was found guilty of a 1996 murder in Rochester and sentenced to a minimum term of 50 years. At 33, she can expect to stay where she is into old age.

For her, graduation was “bittersweet.” The program “allowed me to live in here,” she said. Now she wonders “what’s the next chapter in my life here? How do I engage myself intellectually?”

Women like Ms. Watkins and Ms. Szlekovics are “the most compelling” for Ms. Baumgartner. Most people focus on how a program like hers can help prisoners once they’re freed. “But frankly,” she said, “I’m here for the ones who won’t get out — because they still have minds and spirit, and can grow. Part of me thinks that crime stems from a lack of imagination. What higher education does is broaden the imagination.”

“I’m not in the business of shutting doors on people,” she said.

E-mail: haberman@nytimes.com

05.28.09 | FAFSA, IRS Federal Tax Return

Posted in FAFSA by David Bonvie

Did you know you are not required to complete your IRS federal tax return before filing your FAFSA? It is a common misnomer that it is required when it is simply encouraged.

Having your federal tax return complete will save you a LOT of time when completing your FAFSA. The reason being is that a number of items on the FAFSA refer directly to your 1040 tax return.

So a recap. Is your tax return required before completing your FAFSA? NO. Is it encouraged? YES.


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05.28.09 | Five Ways College Has Changed

Posted in College, FAFSA by David Bonvie

In the wake of the changes in the economy and the increase in students going to college, the face of college campuses has changed along with the times.  Student’s have more options and flexibility for classes such as hybrid classes and getting their degree online. There have been changes that range from different majors offered to increased tuition, to a change in administration at many colleges across the U.S. Outlined below are the 5 top changes that are being seen at colleges and universities throughout the states:

  1. Demographics: There are more students over the age of 25 than ever before; recent surveys suggest 40% of the student population is over the age of 25. Also the female to male ratio is said to be 60-40.
  2. Community College & Proud of It: gone are the days when you do whatever it takes to get into that prestigious school. People don’t want to burden themselves with debt anymore, especially in an uncertain economy. There is also less judgment on where a person has a degree from when searching for a job. It’s the degree that matters, not really where the degree is from. (no including if you went to an IVY league school..that tends to make a difference).
  3. Internet in the Classroom: Many professors have moved away from note writing on the blackboard and turned to planned out PowerPoint presentations, online videos and displays, and even using an online plagiarism tool to scan student’s work for plagiarism (watch out kids!).
  4. Online Classroom Influx: The number of students getting their degree in the comfort of their own home has increased dramatically over the past 5 years…so to has the legitimacy of these degrees. This change has allowed  many people to continue to work full time and still earn a degree.
  5. Purchase a college: These days parents and adult students are looking at college as a personal purchase…something they buy. If they aren’t fully satisfied with any aspect of it (grades, professor, administrative issues), the consumer speaks up and fights to change it. If a school is disorganized and run poorly, a student will transfer out instead of pushing through it. Hey…your paying for it, so you might as well be satisfied. This also has forced colleges to do everything possible to make the consumer/student content.

What about you? Share your experiences by leaving a comment…or add  ones I didn’t write about. If you are a returning student I would love to hear your comparison of college now as opposed to 5 or 10 years ago.

Points code: CHANGE4ME

05.28.09 | What is a Preferred Lender List?

Posted in Federal Loans by David Bonvie

By definition a preferred lender list is a list of lenders that a college suggests its students consider when taking out federally guaranteed loans. Students who receive a “preferred lender” list from a school should remember that those lists are not legally binding. Borrowers can choose from any federally approved lender and may often find a better deal outside the list.

As some of you may recall a handful of lenders were sanctioned for deceptive loan practices a couple of years ago. Among other things, they were sharing a portion of their loan revenue with the school’s financial aid office, which is a clear code of conduct violation. These financial aid officers were guiding students toward loan products that would offer them kickbacks. Fortunately for students today these unethical practices have come to a halt.

Heavy fines were levied and the Sunshine Act was born. The Sunshine Act protects students and parents from exploitation by private lenders and lenders who offer gifts to colleges as a way to secure loan business.

Keep in mind it is not a violation for a school to have a preferred lender list provided they are not reaping financial gains. So it is up to you if you are enrolled at a FFELP school. You can thumb through the schools preferred list or travel outside that list in search of your own lender to service your Stafford loan and Parent Plus loan.

As G.I.Joe once said, “Now you know. And knowing is half the battle.”


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05.27.09 | GMAT's Non-Standard Accommodations

Posted in Uncategorized by David Bonvie

For someone like my wife who suffers frequent anxiety attacks, tests for her are exceedingly stressful. To be honest she’s brighter than me, but I’m the one holding the degree while she remains underpaid in the wonderful world of retail. Perhaps that’s why I was so inspired to post this blog. I really feel for anyone who has trouble taking tests; whose heart palpitations cause their blood pressure to spike and lead to wavering focus and a poor test score. Many people don’t know it, but if you need to take the GMAT to get into grad school you may qualify for a non-standard accommodation.

The non-standard accommodation gives you twice as much time as everyone else, if that’s what you need to compensate for a medical condition.

You’ll need to complete a form called the Documentation Certification for Nonstanding Testing Accommodations which you can get from a counselor at the office of your college that provides services for students with disabilities or from a human resource operator at the company where you work. There’s also a second form, the Examinee’s Eligibility Questionaire for Nonstandard Testing Accomodations that you may need to complete as well. If all else fails a letter from your physician detailing your condition will also suffice.

Additional note: On August 1, 2001 the ETS, who administers the exam, removed the indicator which alerted anyone who viewed your GMAT that you were awarded extedend time.


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05.27.09 | Do I Complete a FAFSA Every Year?

Posted in FAFSA by David Bonvie

Yes, you need to complete a new FAFSA each year.

New financial information must be captured, whether good or bad, which aids in determining your eligibility. Thankfully you don’t need to complete the entire form from scratch again. You can “update” your FAFSA from year to year with the pertinent details. Happy filing!


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05.26.09 | Are there prepayment penalties on Stafford loans?

Posted in Repayment by David Bonvie

A prepayment, as most of you know, is an amount in excess of the amount due on the loan. And like all other federal student loan payments, a prepayment will first be applied to any outstanding fees and charges, next to outstanding interest, and then finally to the principle balance of the loan(s).

There is NEVER a penalty for prepaying principle on any federal student loans.

Additional note: If you have more than one federal student loan with the same servicer, you must specify which loan you are prepaying down.

05.26.09 | What if my computer crashes during my online exam?

Posted in Online Degree by David Bonvie

This actually happened to me during my principles of math class last summer. My computer froze up 15 minutes into a 90 minute timed exam.

There was a test each Monday (5 total) and you could take the exam anytime during the week leading up to that Monday if you wished. The first three tests went well. I had no computer issues and scored an 86% or better on each, but my luck ran out with number four.

I eventually had to shutdown and reboot the computer which lost me over 15 minutes of valuable test time. When I logged back into the test the clock was still running and I was still on question number 8. Not knowing how this was going to work I just plugged away and did my best the rest of the way. I ended up scoring a 72%. After which I emailed the professor to explain to him what had happened.

He verified on his end that there was about a 17 minute lapse time between my question 7 and 8 answers. He then gave me one of three options.

  1. Keep the 72%
  2. Take a backup exam which had 20 questions opposed to his normal 50 question exam.
  3. Take the 5th test and if I scored an 89% or better, which was my average, than the 72% would become an 89%. If I score less than an 89% the 72% would stay.

I was kinda hoping he would let me start on question 8 with 75 minutes to go, but no such luck.

Anyway, the point I’m trying to make is that you have an online professor who is there to help you, and chances are you will not be the first person to encounter such an problem. As great as technology is, it is not without a virus or two to frustrate us from time to time. You may also want to check your course syllabus as many professors will list the proticol right there.

By the way, I went with option 3 and score a 95% on test number 5. That’s right, I rolled the dice and it paid off. Next stop Vegas.

05.26.09 | Student loans pros and cons

Posted in Student Loans by David Bonvie

Mary on Twitter asked:

Working on post about pros and cons of getting student loans. Your thoughts? Any links? Thanks!

Here’s a brief list.

Student loan pros
- Student loans allow you to afford colleges that you couldn’t pay cash out of pocket to attend
- Student loans, especially Stafford and PLUS federal loans, have fixed interest rates that, while not always the lowest, are predictable and easy to budget for
- The Stafford loan requires no creditworthiness, only eligibility based on the FAFSA, making it ideal for tough economic times
- PLUS loans and private student loans require creditworthiness but no demonstration of need, making them suitable for families that are too well off to qualify for need based aid but not well off enough to simply cut a check to the college
- Student loans, especially federal student loans, have a variety of flexible repayment options, including payments that scale with your income, along with deferment, forbearance, and consolidation

Student loan cons
- Student loans are largely non-dischargeable, even in bankruptcy, which means you’re stuck with them forever
- Student loans, especially federal student loans, can be collected via wage garnishment and a variety of other mechanisms that other loans can’t be, such as seizure of income tax refunds
- Student loans may not be the lowest cost of borrowing if you’re able to obtain good terms on other consumer loans like home equity loans
- Student loans can be far too easy to overborrow, especially for students who don’t have strong personal finance skills, graduating with massive amounts of debt in a few short years
- Student loans are convenient, which means that students may not pursue lower cost options for college such as aggressive scholarship searching or lower cost colleges

Ultimately, whether or not you borrow a student loan is a function of time. If you plan far ahead, if your parents plan far ahead, the chances are good you can attend college for very little money borrowed or no money borrowed. Students who have used our free college scholarship search eBook, Scholarship Search Secrets, have brought in tens of thousands of dollars each in scholarships, greatly reducing the cost of college. On the other hand, students who need funding as soon as possible find some success with our private student loans, at the cost of incurring debt that they’ll need to repay over the years ahead.

05.22.09 | Figuring Out How Much It Will Cost You

Posted in FAFSA by David Bonvie

This article from the New York Times is worth a read. For information on how to get in to specific colleges please visit Howtogetin.com:

Colleges Offer New Web Calculators That Can Help Estimate the Bottom Line

To make it easier for prospective students to figure out how much it will cost them to go to college, Congress last year passed a higher education law that, among other things, requires all colleges to offer a “net price calculator” on their Web sites by 2011.

Many colleges and universities have been doing this for some time, and last week the Massachusetts Institute of Technology joined them, introducing its own calculator that allows prospective students to get detailed estimates of their out-of-pocket costs as well as their eligibility for financial aid.

Such calculators are likely to provide a closer approximation of the true costs of particular colleges than general calculators available on multiple Web sites, or the Free Application for Federal Student Aid (FAFSA), which offers a figure for the Expected Family Contribution (EFC) but does not take into account the criteria of individual schools.

“It was like using a shotgun to kill a house fly,” Daniel Barkowitz, director of of M.I.T.’s student financial aid, said of the FAFSA. The M.I.T. financial aid calculator gathers all the data from the FAFSA and adds additional questions on home equity, school and medical expenses. “The major thing keeping people from college is perceived cost. The calculator demystifies the sticker price.”

On Mr. Barkowitz’s blog, prospective students posted responses to the launch of the new calculator. “Thanks so much, this makes me even more determined to shine on that MIT app!” wrote Cody Dean.

The calculators are intended to assist candidates who are eager to find out early if they can afford the school that they hope to attend. In addition to M.I.T., Princeton, Yale, Williams College, and Amherst College already have estimators and Harvard has one under development.

Although the calculators are the result of much testing with real cases, many developed by Think Ahead LLC, some calculators have restrictions, such as excluding international students, and others are not intended for use by divorced couples. They also leave out scenarios such as a parent losing a job, which would require a human interaction with a financial counselor.

Mark Kantrowitz, publisher of the financial aid Web site FinAid.Org, said in an e-mail that elite colleges “may be implementing calculators now more to show how their colleges cost less out of pocket as a recruiting tool, rather than to fulfill the federal requirement.”

Robin Moscato, director of undergraduate financial aid at Princeton University, said that the school first added its calculator to its Web site in 1998.

“There was some concern that in putting up an estimator that prospective students and their families would use it incorrectly and be very disappointed” said Ms. Moscato, “But they feel like the estimator is a good prediction of what they expected to receive.”


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