College Basics for Parents: Helping your kid graduate debt free

Bigger Than Your Block is pleased to announce a new FREE webinar for the parents of college students. Scholarship guru, and mom who used these strategies to get her daughter through undergrad with NO student loan debt, Gwen Richardson, will present College Basics for Parents: Helping your kid graduate debt free with the most dynamic financial education speaker working today, Shay Olivarria.

 

In this FREE webinar Gwen Richardson, author of 101 Scholarship Applications: What It Takes to Obtain a Debt-Free Education, and Shay Olivarria, author of 10 Things College Students Need to Know About Money, will help you navigate the money side of undergrad.

The webinar will cover:

• How to find scholarships to apply to.
• Strategies to help your student with scholarships.
• Which two accounts your student needs to open to create financial wealth.
• Tips and tricks to help your student learn to manage money while in school (in preparation for life).

 

Please join us:

Saturday, September 8th

or

Monday, September 10th

Want to read the books before the webinar? You can order a copy of both for $30 total, including shipping. 10 Things College Students Need to Know About Money sells on Amazon for $15 plus shipping on its own. If I were you, I’d run to get both for $30.

See you at the webinar!

$10,000 African American Study Abroad Scholarship

Did you know that the United Negro College Fund had a $10,000 scholarship to help Black students in the United States study at a University on the continent of Africa?

The Joseph A. Towles African Study Abroad Scholarship is named in memory of Dr. Joseph A. Towles, a black social anthropologist and specialist in the study of African cultures. Dr. Towles, a native of Virginia, earned his doctorate at the Makerere University in Kampala, Uganda.

This makes me wish I was still in school so I could apply for this scholarship. I’ve been to twenty countries on five continents but I’ve never had the pleasure of studying at a university abroad. There are only three more days to get your application in. Hurry. This is a great opportunity.

African American Study Abroad Scholarship
United Negro College Fund
Deadline to Apply: Nov. 3, 2017
Award Amount: up to $10,000

By providing financial assistance for UNCF students to study at an established university within the continent of Africa, The Joseph A. Towles Scholarship will allow students to receive an incredible academic experience and exposure to the rich traditions within African cultures.

Click here to visit the United Negro College Fund’s page.

FREE Workshop: Paying for College

There have been some changes to the way high school students apply to FAFSA. Families need to know what the changes are, what the important dates not to miss are, and how to get students graduated from college not mired in debt.

Financial education speaker and the author of “10 Things College Students Need to Know About Money” Shay Olivarria will be facilitating a FREE workshop in San Diego, CA to help families figure it all out.

In this dynamic one hour workshop students and parents will learn about the changes to the FAFSA application, scholarships, student loan types, and repayment options.

Families will leave with a handout of important terms, tips, and dates. Graduating from college is not just about having the grades to get in. It’s about finding a school that’s a good fit, paying for it without going broke, and creating a network to build a career.

FAQs

What can I bring into the event?

Bring a pen or pencil. This is a workshop (you’ll be engaged) not a lecture.

How can I contact the organizer with any questions?

Call (323) 596-1843

What’s the refund policy?

Early Bird ticket holders will receive a free copy of “10 Things College Students Need to Know About College” at the event. If you don’t show, you don’t get your copy. Books will NOT be shipped.

Do I have to bring my printed ticket to the event?

Yes. Seating is very limited so tickets will be necessary. Showing your ticket on your phone also works (save a tree).

Is it ok if the name on my ticket or registration doesn’t match the person who attends?

Yes. Whoever shows up needs access to a ticket. If you booked a ticket for yourself and now your cousin wants to come instead, that’s fine.

 

 

Shay Olivarria is the most dynamic financial education speaker working today. Previous clients include: SCE Credit Union, American Airlines Credit Union, the Yorba Linda Water District, Verizon, among others. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times.The 2nd edition of “10 Things College Students Need to Know About Money” is available now.

 

 

FREE Webinar for College Freshman

Click photo to register

Have a high school grad that’s headed to college? Did you learn some financial lessons the hard way and prefer that your child not make the same mistakes? You’re in luck! This September financial education speaker and author Shay Olivarria is hosting a FREE (yes, that’s f-r-e-e) webinar to give college freshman a leg up.

 

Freshman Facts: 5 Things College Freshman Should Do to Build Wealth

 

 

Engage in this dynamic, fast-paced webinar with financial
education speaker and author Shay Olivarria. Participants will learn:

– Where to put financial aid money for best money management practices.                           – How to spend money, have fun, and be responsible.
– What accounts to open to build credit scores.
– Where to put your pennies to become wealthy.
– Pros and cons of available personal finance apps to leverage your current behaviors.

 

 

Shay Olivarria is the most dynamic financial education speaker working today. Previous clients include: SCE Credit Union, American Airlines Credit Union, the Yorba Linda Water District, Verizon, among others. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times.The 2nd edition of “10 Things College Students Need to Know About Money” is available now.

 

Facebook Chat for High School Seniors

To celebrate Financial Education Month Bigger Than Your Block will offer a free Facebook chat with high school seniors. Shay Olivarria the author of “10 Things College Students Need to Know About Money (2nd edition)” will be on hand. The one hour chat will allow students to  ask any questions they have about personal finance including:

• Choosing a credit union.
• Opening a checking account.
• Opening an investment or retirement account.
• Accepting financial aid monies.
• Locating scholarships.
• Creating a spending plan for college.
• Anything else you can come up with!

Wednesday, April 5th 6pm PST

#BTYBChat for High School Seniors

Join the chat

 

October 1 and the FAFSA Application is OPEN!

Parents moving college student into her dorm.

It’s FAFSA time!

This is one of the changes that’s happening to the FAFSA: families are able to start applying today. Head over to the FAFSA website and start your application now. It will probably take about an hour.

myRA Might Be the Solution for High School and College Students

If you’ve read “10 Things College Students Need to Know About Money” you know that I am a HUGE advocate of young people investing from retirement as soon as they have earned income. For many people that time is while in high school or college while you’re working part-time or eeking a living out of financial aid. Often, young people don’t know how to open an Individual Retirement Account (IRA) or don’t think they have enough money to open one (get my list of investment accounts you can open for less than $100 here).

The United States government is here to help with the new myRA (my retirement account, get it?). According to the U.S. Treasury,  these accounts are:

• Easy to set up (you can have the money deducted from your payroll check if you wish)
• Designed to help people with little money or no access to a retirement plan from work.
• No risk of losing money (funds are invested in a Thrift Savings Plan-like account)
• The funds you invest are NOT tax-deductible but you also can take them out whenever you like without penalty.

The best part? There is no minimum amount required to start an account and according to Forbes, ” additional contributions only have a minimum of $5.” The goal is really to get you into the habit of investing when you are young and have few dollars. The return isn’t great (think 1% or 2% per year) compared to a regular traditional or Roth IRA or 401(k)/403(b) but starting now with a few dollars and little interest is better than not doing anything.

Fool.com also notes:

Account holders can contribute up to $5,500 per year ($6,500 if over 50) and may continue to contribute until their total account balance reaches $15,000. All funds are invested in a newly created Treasury bond

Once you’ve grown a nest egg big enough to open a traditional or Roth IRA, or you have a job that provides a 401(k) or 401(b) hopefully with matching, you can roll the money over into a new account.

Click here to find out more about myRA accounts.

 

 

Financial Resources for Foster Care Students

I attended undergrad and grad school.

I started my company, Bigger Than Your Block, back in 2008.

I have traveled to 18 countries on 5 continents.

I was a foster kid that aged out of the system at 17 years old.

Fewer than 3% of foster kids earn a degree. I was one of the lucky ones. There shouldn’t be “lucky ones”. We have to do better.

I found this list of scholarships and grants for college students that are wards of the state. The Fostering Access to College Education (FACE) page has tons of good stuff.

First, eligible current and former foster youth may apply online for the Chafee Grant at www.chafee.csac.ca.gov. Grants are for eligible applicants ages 18-23 for up to $5,000 to assist with college tuition or job training. Youth must have been in foster care at or after the age of 16 to be eligible.

Other valuable sources for scholarship money are as follows: 

• Promises2Kids Guardian Scholars Program (www.promises2kids.org). The Program provides scholarships also up to $5000 per year to former foster youth enrolling in two and four-year colleges. Applicants should apply at the same time as their FAFSA filing (between Jan. 1 and Mar. 2). 
• Just in Time for Foster Youth: www.jitfosteryouth.org (approximate deadline is May 1–check website for updates). Its “College Bound” program provides laptops, printers, school supplies and/or dorm room/apartment furnishings for selected youth.
• Fostering Opportunities Dollars for Scholars: www.mydollar.org (approximate deadline is July 1 for fall semester and October 1 for spring semester–check website for updates). A $500 grant per semester is available to former foster youth enrolling in San Diego colleges or universities.
• San Diego Foundation (http://www.sdfoundation.org/GrantsScholarships/Scholarships/ForStudents.aspx) or call 619-814-1307. The San Diego Foundation is a clearinghouse for a large number of private scholarships, each with different sets of criteria. Scholarship applications may be filed online between Dec. 1 and February 9th (for first-time users). All application  materials are due February 13, 2012 at 5 PM. Check the website for details.
• Change A Life Foundation: http://www.changealife.org/how_to_apply/default.aspx. You may file your scholarship application between Dec. 1 and March 15. San Diego residents with questions may contact Cat Gomez-Holly at cgomezholly@changealife.org.
• Orphan Foundation of America (OFA): www.orphan.org (approximate deadline is Mar. 31–check website for updates). OFA serves foster teens throughout the country and provides college scholarships.
• Gates Millennium Scholars Program: www.gmsp.org (early January deadline for outstanding African American, Native American, Hispanic American and Asian Pacific Islander American students)
• Hispanic Scholarship Fund: www.hsf.net (for Latina/Latino students–deadlines vary)
• UNCF: www.uncf.org (for African-American students–deadlines vary)

 

 

Finally, you may search the internet for other private scholarships by using a free Web–based search engine. Try www.fastweb.com or www.collegeboard.com/pay. You should never pay to find, apply, or receive a scholarship.

Student Loan Repayment Scams are Everywhere

A client just alerted me to another student loan repayment scam company (Student Loan Relief Department). She found a link to a blog called After the Diploma (cute name, right?). My first tip was that it only had 3 blog posts. The second tip was that it talked about taking a quiz and “helping” with student loan forgiveness but I couldn’t find a company name. Hmmmm ….

I took the 10 question quiz to see if I qualified for student loan forgiveness to see what would happen. This was on the last page:

Congratulations!
You May Qualify For Student Loan Forgiveness

Please Call This Number In Next 10 Minutes

1-888-969-2385

Zip Code: 60644 – Loan Type: Federal
Ref# 22018429-001

---

Ask about the following:

Economic Hardship Deferment
Because you answered “Yes” to Q 8/10

William D. Ford Direct Loan Program (Often referred to in media as the Obama Student Loan Forgiveness)

Other deferement options:
Rehabilitation Training
Parental Leave
Military Service

Bankruptcy
In rare cases, Bankruptcy Discharge can be an option if filing Chapter 7 or Chapter 13.

 

It seems fine and well and good until you realize that #1 this is a private company (which means they are looking to make money) and #2 the programs they are offering to help me “qualify” for are already offered by the federal government for free.

If you visit the actual page for student loan relief department (see how they made the name sound like something official? “Student Loan Relief Department”) you’ll see the programs they are offering to help you qualify for are FREE things that you can sign up for on your own.

If you see a company that offers to help you manage your student loan debt, read these articles first:

The Better Business Bureau

Consumers receive a phone call, email or spot a post on social media that claims a company can erase student loan debt. Many claim that their service is made possible by a new government program or policy sponsored by U.S. President Barak Obama.

The company asks for an upfront fee to negotiate with your student loan lender on your behalf. They will claim they’ve helped numerous other clients, but don’t believe them! Student loans can only be forgiven under specific circumstances, which are not fast or easy.  These scammers will take your fee and disappear.

In another version of the student loan scam, con artists claim that they can save you money by consolidating your loans. Some charge a fee for using a free government service. Others may actually move your loans to a private lender with a higher interest rate.

Nerd Wallet

 A growing pack of private companies offers to relieve grads of their student loan debt, when in fact all they do is file paperwork to consolidate borrowers’ multiple federal loans into a Direct Consolidation Loan. These companies’ tactics are deceptive and costly, officials say, because they’re charging up to $1,500 for services the U.S. Department of Education offers for free. They work exclusively with federal loans, since private lenders generally don’t offer flexible repayment plans or loan forgiveness.

 

There are lots of scams out there, folks. Stay vigilant.

Kevuntez King Paid for College Before He Began

There’s a young man in Memphis, TN that’s very proud of himself, as he should be. Kevuntez King has worked selling newspapers every Sunday for the last five years (from 12 to 17) earning $200 every week. Over the last five years, he’s earned around $50,000! That’s enough to pay for his tuition at Tennessee State University. Fox 13 reports,

King said he grew up in a single-parent home with his mother, whose influence paved his way to success.

“She just taught me how to be independent like she had it, (and) she just wanted me to go get it myself,” he said.

This story shows us:

• Encouraging young people to work can lead to great things.
• Encouraging young people to plan for their future brings a sense of accomplishment.
• Single parents can help motivate a child. Single parenthood isn’t the end of the world.
• When you set a goal, it’s easier to accomplish it.

I really enjoyed reading about Kevuntez King and I look forward to hearing about all the great things he’s going to accomplish in the future.

Another Reason to Open a Roth IRA: Paying for College

I was reading the business section of the LA Times when I came across this nugget:

Because you make Roth IRA contributions with after-tax dollars, you can withdraw them at any time without taxes or penalties, just like 529 plans.

I knew that. I’ve done that, but it never occurred to me to contribute with the intention of using that money for college costs. Do you know what that nugget means? It means that:

• Instead of opening two accounts and having to schedule two contributions, you can open one.
• You can take out the money you put in, not the interest that you’ve earned, to pay for college costs after letting it grow for years and years.
• If you don’t end up using it for college expenses you can let it continue to grow until retirement.
• If you do want to use the money for college costs, the money in your Roth IRA with not count against your child for financial aid like a 529 plan would.

That is revolutionary. You can contribute, let the money grow, it won’t count against your kid when you apply for financial aid (FAFSA, scholarships, loans, etc.), and you can leave it there to continue to grow until you need it for retirement. The absolute best part? You can leave the funds left in the account after you die to your spouse OR any beneficiary that you designate and that money can continue to grow.

There seems to be no downside to opening a Roth IRA.

 

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Virtual Book Launch June 8th

As you all know, I am ecstatic about the printing of the 2nd edition of 10 Things College Students Need to Know about Money! I’m so excited that for the first time ever I’m hosting a virtual book launch on Facebook. What is a virtual book launch you ask? Good question.  *wink*

A virtual book launch is an opportunity for you to ask me about the book, win some cool gifts and score an AMAZING discount on the book. I’m so excited.

Sign up to receive my emails and get another gift.

Subscribe to our mailing list

See you Wednesday, June 8th between 6:30pm and 8:30pm Pacific Standard Time.

Graduating? A few financial tips.

Shay Olivarria, financial education speaker and the author of 10 Things College Students Need to Know About Money 2nd edition, was included in the an article geared towards sharing a few tips for students that graduating this year. Nine women were included. Shay’s tips:

“Keep your credit scores high by taking a look at your credit reports for free at AnnualCreditReport.com (the only place you can get them for free). [Also] learn about the five parts of a credit score and leverage your scores to save money (and deposit fees on utilities) on car loans and home loans in the upcoming years.”

“You created a plan to graduate from college and you worked that plan to bring graduation to fruition. You can do the exact same thing with personal finances. Make a plan and execute that plan. Welcome to adulthood.”

Read the rest of the advice by visiting Student Loan Hero.

 

Shay Olivarria is the most dynamic financial education speaker working today. She speaks at high schools, colleges, and companies across the country. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times, among others. To schedule Shay to speak at your event visit www.BiggerThanYourBlock.com. 

 

 

A Young Mother’s Dream Scholarship

I just saw this message on Facebook:

If you know of any high school seniors (entering their Senior year this Fall) that would be a candidate for the scholarship program POSSE, please please send an email to geneva@youngmothersdream.org!Today is the FINAL day for submissions Great opportunity for a full 4-year college scholarship… Please share & recommend! Thank you

The scholarship is from an organization call A Young Mother’s Dream. Get your application in today.

Adelante Mujer Latina 2014

Financial education speaker Shay Olivarria taking a break from speaking during the Adelante Mujer Latina Conference at Pasadena City College.

This is the second year that I have volunteered at the Adelante Mujer Latina Conference at Pasadena City College. I enjoy it a little more each time.

Can you tell that Shay LOVES her work! #FinancialEducation #Conference #Goodtimes

I can’t wait to see what next year brings!

 

Shay Olivarria is the most dynamic financial education speaker working today. She speaks at high schools, colleges, and companies across the country. She has written three books on personal finance, including Amazon Best Seller “Money Matters: The Get It Done in 1 Minute Workbook”. Shay has been quoted on Bankrate.com, FoxBusiness.com, NBC Latino and The Credit Union Times, among others. To schedule Shay to speak at your event visit www.BiggerThanYourBlock.com