Between the state of the economy, and the rising cost of college tuition, it’s more important than ever for prospective college students and their parents to be able to ‘visit’ schools without dropping thousands of dollars on cross country campus visits, and application fees.

Glenn Pere responded to this need by creating CollegeClickTV.com – a free, central go-to hub for college information to bring a 360-degree perspective of each college. The site features more than 30,000 authentic and unscripted peer-to-peer videos from students, teachers and local merchants at over 200 college campuses across the country, touching on everything from dorm life and what it means to be Greek, to academics and nightlife.

“We’re thrilled that CollegeClickTV.com is evolving into the “insider” college experience through direct access to those who know the most about it – the students,” says Pere. “We’re confident that CollegeClickTV.com will be the first place people go before they visit a college campus, and that the site will cause a transformation in terms of how students determine which schools they really want to invest their time in learning more about.”

CollegeClickTV.com recently announced their partnerships with U.S. News & World Report, The Princeton Review, and Cliffsnotes. By early 2009, there are expected to be 200 more schools featured on the site.

Check out the site at: www.CollegeClickTV.com

I wish I had never bought anything from my college bookstore.

I go to a small school, and the college bookstore is conveniently located right in the middle of campus.  But it’s not like the school is in the middle of nowhere (Baltimore).  There are hundreds of stores that sell the same things literally surrounding my school for miles, and they usually cost less.  So why pay more for books and other odds and ends when a student could go down to the dollar store or Wal-Mart for less?

What the college charges extra for is convenience, especially with textbooks; the college is guaranteed to have every textbook you need, since they are given the course requirements.  They assume (or hope) that a student does not have time or initiative to go and look on their own for books, and they often scare you into turning to the bookstore for fear of not getting books on time.  And believe me, you will never hear your college telling you other places you can look for books.  They want to make as much money as they can off you, and conveniently selling students textbooks right on campus (not to mention making it mandatory to show students during tours) is a great way to trick fresh students and parents into overpaying.

This year I decided to take the initiative and look around.  I’m a senior at the school and I figured any books I couldn’t find right away I could borrow from friends.  I found every single book that I needed elsewhere, including free book piles, discount bookstores, textbook consignment shops, libraries, and the good old interwebs, sometimes for shockingly diminished amounts.  Not only that, but as the Internet continues to expand, more and more books will be (and already are) available for free through search engines.  I saved hundreds of dollars doing this, and I only wish I had started freshman year.  I then compared what I would have saved in past years had I used this method and laughed at myself in a harsh pitying way.  Sure it took a little longer and it wasn’t one-stop shopping, but it was definitely worth it.

Don’t be a sheep! If you’re buying your textbooks at your college bookstore, stop and look around and start shopping for them early.  You’ll be happy you did.

Enter the Buck the Norm Video Contest

Here at Young Money we are always looking for new, reputable contests to help you win money for college. The Tinker Federal Credit Union of Oklahoma is offering a $2,000 scholarship.

It’s a video contest and the topic is “My Money Mistake.”

According to www.buckthenorm.com/btn they know that it’s easy to make mistakes with your money—especially when you are young and just starting out.

Tinker wants to hear your story, what happened and what you learned. And they want to hear (and see) it in a video you make yourself. The better your video the more votes you’ll get and the better your chances of winning.

So upload your video and get your friends to start voting!

Check out http://www.buckthenorm.com/btn to read the rules, details, and watch a sample video.

Prizes:
Grand Prize: $2000 Scholarship and a MacBook
Second Prize: $1000 Scholarship
Third Prize: $500 Scholarship
Bucky’s Choice: iPod Touch MP3 Player

Hurry up and enter! http://www.buckthenorm.com/btn

Eligibility: Open to individuals who are legal residents of the State of Oklahoma or a TFCU member. Must be at least 16 years old as of November 2008 and a current high school, vo-tech or college student at time of contest entry. Contest begins Monday, November 17, 2008 and ends Friday, February 27, 2009 at 11:59 p.m. For purposes of these Official Rules, all times Central Standard Time (CST).

NEED MONEY FOR COLLEGE? Try www.findacollegescholarship.com

When you are busy applying to colleges or universities you probably think about all of the competition you face getting accepted to the school of your dreams. However, it may come as a surprise that some universities face competition attracting top-notch students. New schools have an especially hard time attracting top students. They don’t have the reputation or proven success record to get you through the door. But UC Irvine’s new law school has found a way to push itself to the head of the class: they are offering three years of free tuition to their first class of students.

UC Irvine’s new law school is set to open next fall and they want to be a top-20 law school—the first time they are ranked. In order to do this they are offering full scholarships to all 60 members of its inaugural 2009 class. But, if you are not at the top of your class you might want to add UC Irvine to your reach schools—they are looking for Ivy League-caliber students.

UC Irvine Law Dean Erwin Chemerinsky believes that free education, a public interest curriculum, and being part of the University of California education system (a system that boasts top schools such as Berkeley) will fill this first class and push his new law school to an A-grade.

There are currently 200 law schools accredited by the American Bar Association but Chemerinsky is promising a different type of law school. He promises “students a unique program with hands-on experience in legal clinics and eventual job interviews with more than 70 law firms, public interest law organizations and government offices.”

Chemerinsky has already hired 19 law professors and administrators, including some who are abandoning jobs at prestigious universities. The school hopes to eventually enroll 600 students and employ 40 to 50 professors.

During a recession offering free tuition is pretty smart. And even though all subsequent classes will face normal tuition this might be enough to put UC Irvine’s new law school on the map.

What do you think of the plan to attract top students with free tuition? Would you be willing to attend a new university if it was free?

If you listen to the financial experts on TV dole out advice on how to dig yourself out of credit card debt, you might think that the answer lies in eating out less, not going to the movies, and skipping the Starbucks runs.  It’s certainly true that cutting those costs will help you save money.  But, what if, like so many of us, you’ve already eliminated those simple pleasures from your life only to find that you’re still in debt? Well, then it seems that like just like I did, you need to look for other ways to cut your costs.  But that doesn’t mean that you need live a monastic existence all semester long.  Here are a few additional changes I made as a college student in order to get out of debt.

1.  Set up an automatic monthly payment for your credit card and factor it into your paycheck.  Just like your employer withholds money from your earnings for tax purposes, allocate a certain amount each month that you will use to pay your credit card statement.  Pay it before you spend money on anything else and before long, you won’t even miss the extra money.

2. Plan your meals ahead of time and make a shopping list.  Since you’re not eating out anymore, you’re probably doing a lot of cooking at home and you might be surprised how much food you throw out each week.  By planning your meals ahead of time, you will buy only what you need and save the rest. If you’re already on your school’s meal plan, eat in the caf as much as possible.  It might not be fine dining, but, hey,it’s free.

3. Get a new wardrobe without spending a cent by organizing a clothes swap with your friends or floor mates.  It’s a fun way to get some new clothes and you’ll be surprised what you can find.

Of course, it goes without saying if you really want to get yourself out of debt, you have to stop using your credit cards.  If you’re in debt, you have to realize that the money in your account isn’t really yours until you’ve paid off all the money you owed.

 I’m always looking for new ways to stay on track. So, how do you save money?  Leave a comment to trade tips with your fellow YMT readers.

I hear the same old story every year. A few school officials and politicians complain about credit card companies taking advantage of students on campus who open accounts only to fall into debt and get hit with high interest rate charges. I would stand up and applaud those concerned officials but the truth is that most of their complaints are simply hot air.

We already know that many schools profit handsomely from their partnerships with credit card companies. The creditors pay the colleges millions of dollars in exchange for access to the students. The consumer protection groups exposed this conflict of interest a long time ago. They’ve even gotten a few schools to ban credit card vendors from setting up tables on campus.

Sounds like progress, right? Not really. The card vendors simply find other ways to market to students including direct mail, emails, sporting event kiosks or a hundred other ways. The credit card companies are very powerful and well funded so I think battling them is pointless. In fact, I don’t have any problem with a student having a credit card. I just want the card companies to offer more free education programs to their cardholders.

I’d much rather spend my energy trying to teach the students how to use the cards wisely rather than waste my time trying to keep them out of their hands. Most people agree that personal finance education is the key to ensuring that young adults stay out of credit card debt. But here’s where I get frustrated. Everybody talks about financial education but few schools actually promote it.

Sure, there are a few states that have added a personal finance class to their high school curriculum. But what the heck are the other states waiting for? They seem to think that it’s up to the parents to teach them that stuff. Well, guess what? Most parents do a lousy job of teaching their teens about money! Just look at the results from Jump$tart Coalition’s annual survey of high school students for proof of how little they know about money management.

The colleges are even worse when it comes to personal finance education. They have faculty professors who are financial experts but yet they usually leave it up to the students themselves to figure things out. These are the same students who didn’t know about money when they were in high school except now they have easier access to credit cards. No wonder they get into debt!

So next time you hear your local college administrator or politician whining about how the evil credit card companies are victimizing students with their sneaky marketing tricks just ask them one question: “What are you doing to help young adults learn about personal finance education?”

The rising cost of a college education has become a serious national issue so parents and students need to be smart consumers when deciding how to pay for college. According to student loan company MyRichUncle, the rules of thumb for student borrowing are:

1. Do not borrow a dollar more than you really need.

2. Assume the cost will rise by approximately 5% to 6% each year.

3. Look for and secure grants and scholarships before loans.

4. Look for cheap money: Federally-guaranteed Stafford loans are less expensive than private student loans.

5. Look for the “cheapest cheap money”: Some lenders charge less than others for federally-guaranteed student loans. (The government does not set the rate; it sets the maximum rate.)

6. Private student loans should only be considered as a way to fill any gap.  (Know that private student loans are almost always cheaper than credit cards.)

7. When going for private loans, shop hard and thoroughly, and do the math: One percentage point of interest can make a big difference in terms of the total amount you have to pay back.

8. Carefully consider the pros and cons of loan repayment options, including deferment while in school.  Deferring reduces the strain of making payments while so much capital is being spent on tuition and other expenses.  However, deferring does increase the overall cost of borrowing.

9. Do not borrow more than you believe you can afford based on your expected income post-graduation.

Today’s college graduates are in the perfect position to start their personal financial lives on the right foot. Here are some helpful tips on how to build financial security offered by Ethan Ewing, president of Bills.com, a consumer education and comparison shopping website.

“The average American graduates from college with around $20,000 in debt, a starting salary around $30,000, and a burning desire to live it up now that cash is coming in,” Ewing said. “But the first few years of your working life are the perfect time to invest in your future by getting rid of as much debt as you can and investing in yourself.”

Follow these steps from Bills.com to lay a foundation for years to come.

1. Calculate your net worth. Your salary might look good. But take a realistic look at the complete picture by tallying your net worth. Add up the value of your assets (investments, resale value of a home or automobile or other major assets, and the value of cash, savings and checking accounts). Total your debts, including mortgage or car loan, student loans, personal loans and credit card balances. Subtract debts from assets. “If the number is negative, you have significant work to do,” Ewing warned. “If it is positive, work to make it stronger.”

2. Pay off credit card debt first. Of all personal debt, credit cards typically have the highest interest rates, and their issuers often are the most aggressive creditors when payments are missed. “If you have multiple credit cards, a car loan or other debt, begin paying the most on your debt that carries the highest interest rate while making minimum payments on other debt,” Ewing explained. “When the debt with the highest interest rate is paid in full, move to the next-highest-rate debt and implement the same strategy.”

3. Tackle student loans. For most people, student loan interest is tax-deductible, and the debt was accrued for a good cause: an investment in the future. Still, the sooner the debt is paid, the sooner graduates can use their money to purchase a home, invest in retirement or pursue another goal. “Trust us: In 10 years, you will be thrilled if you eliminated your loan payment early,” Ewing said. “After paying your credit card debt, apply as much of your free cash flow to student loan payments with an eye to paying them off as early as possible.”

4. Save part of your income. Get into the best habit — saving for the future. Set up paychecks so that 10 percent is deposited directly into a savings or money market account. The goal should be to accumulate enough funds to cover expenses for three to six months in case of an emergency. This emergency fund also can help avoid putting unexpected costs on a credit card.

5. Plan for retirement. Any employee whose employer matches contributions to a 401 (k) fund should contribute the maximum amount that is matched. Today’s savings will pay off amply for the future, with the benefit of compound interest. People who are on their own for retirement savings should first establish an emergency fund, then put that 10 percent savings into IRAs and other retirement savings. “Even when your salary increases, keep saving 10 percent of the amount,” Ewing suggested.

6. Live within your means. Last, but not least, do not go into debt to fund a new lifestyle. Plenty of people who live in posh apartments or drive the newest cars do so under a tremendous debt burden. “Instead of joining them, live modestly and enjoy the knowledge that you can balance your checkbook with a clear conscience,” Ewing urged

“Every step you take today to get out of debt frees up options for your future,” Ewing reminded graduates. “You will be able to purchase a better home, have more options for everything from vacation to children’s education, and plan for a more secure retirement if you get — and stay — in the habit of making wise financial choices today.”

One of my few regrets about college was not having had the chance to take at least one class in a foreign country. Your college years are the perfect time of life to explore new places and I missed out on that opportunity. But there’s still time left for you to avoid making the same mistake I made. When preparing for life after college, whether or not you’re close to graduation, there are three primary things that all students should do beyond going to class and acing their exams.

1) See the world. Every study abroad participant I’ve ever spoken to has said it was one of their best college experiences. Most schools offer study abroad programs and financial assistance for qualified applicants. International travel will not only teach you about other cultures but it also serves as an impressive addition to your job resume. We know that traveling can be expensive so we’ve asked our travel editor to list the best places to visit on the shrinking American dollar.

2) Avoid debt. The average graduate leaves college with a stack of bills to accompany their bachelor’s degree.  For many of you it will be impossible to leave school without incurring some form of debt. However, your goal should be to keep that debt as low as possible. Good money management is the key to achieving that goal. Read one student’s credit card debt horror story of what could happen if you don’t control your spending.

3) Start looking for a job. A common mistake made by college seniors is waiting until after graduation to start job hunting. Some career experts even recommend starting your job search during your junior year. Make sure you have enough time to thoroughly research potential employers and develop industry contacts in order to improve your chances of being hired. Learn how not to blow your job interview.

It took me five months to find a job after graduating college and the one I found wasn’t even related to my degree. My biggest regret about my time in college was that I could have cut that time considerably if I had started job hunting much sooner. Here’s hoping that you leave college with no regrets.

I recently had a good friend of mine die from lung cancer which she developed from smoking from age 16 to 26. What concerns me is that the National Center on Addiction and Substance Abuse (CASA) estimates that every day, about 4,000 young people smoke their first cigarette. One in five women ages 18 to 24 nationwide is a smoker. It upsets me to think about that many young adults having to go through the same agony my friend and her loved ones experienced.

I know how incredibly addictive smoking can be and how most smokers try to stop but fail to do so. I also understand that knowing the health risks involved is not enough to get them to quit. But I thought that sharing some of the real financial costs may help encourage some young smokers to quit the habit.

Check this out. The average smoker costs themselves over $1,500 a year on cigarettes alone! A Duke University study puts the true cost of lifetime smoking at $40 a pack on average, that’s about $15,000 a year over the life of a smoker. Think about all the other things you could be doing with that money.

Smoking is no longer just about the smokers’ health, it’s also about their job. Employees who smoke cost their employers more than $9,300 in lost productivity, smoking breaks, excess medical expenditures, liability insurance and other related costs each and every year. The growing trend among employers is to go smoke free to cut costs and increase productivity while saving lives.

I could go on forever with statistics on how smoking robs you of both your health and wealth but you probably get the point. There is a lot of help available for smokers wanting to stop so please don’t give up hope. Two friends of mine started the nonprofit group Smoke Free Society in order to help people stop smoking. If you or someone you know wants to quit smoking, then I urge you to please visit their website for more information.