It's no secret that teaching public school is not the most lucrative career. Payscale.com places the average teacher's salary between $40,000 and $43,000 annually. Beginning in March 2010, elementary, middle and high school teachers are not required to have a master's degree in any state. So, is there a benefit to investing thousands in an advanced degree? Consider the following tips to help make your decision.
1. Research state requirements. Although no state requires a master's degree to begin teaching, many states such as Ohio, Minnesota, New York and Massachusetts require teachers to complete their MA within five years. So if you don't complete your master's now, you may have to do it down the road while holding down a full-time teaching position. However, you could save money by waiting. Check to see if your state offers tuition reimbursement. If you wait, you may be able to get the state to pick up the bill.
2. Decide on your specialty. Some specialized classes, even within the public education system do (Read More....)
A lot of people are in debt, whether it be mortgage, car, credit card or even student loan debt. Debt is just the way many people live there lives. In reality, there is good debt and there is bad debt. Good debt is something that enriches your life, or even enriches earning power. So sometimes it is a good idea to evaluate your debt situation, and not worry too much about good debt. One of the best good debts to have is student loan debt, this is for a few reasons.
You usually can deduct the interest on your student loan debt. This can make your tax burden a little bit lower. This is not true with other forms of debt such as auto loan or credit card debt. When filing your taxes, any way to lower the tax burden is good, which is money in your pocket.
The interest rates on student loans are incredibly low, in fact, they are now less than inflation. So if you are paying 1-2 percent on your student loan in interest, you are beating inflation. Right now inflation is around 3 (Read More....)
As a follow-up to a few recent articles examining whether tobacco or lotto tickets are worth the money, I'd be interested in understanding whether a few other things college students typically purchase are worth the money, too. As a college student, you probably know better than most how tough it is to make ends meet. You're likely living on Ramen noodles and scrounging cash whenever you can. Based on my experiences, here are some typical college purchases that you can certainly live without (and save).
Picture Credit Cuyahoga Community College
1. Single Coffee Drinks At Cafes.
When I reviewed my expenses after my first year in college, I can say with a straight face that my most costly single expense was coffee. Your university likely has a somewhat cheaper campus café, but no matter where you get your coffee, if you don't make it yourself, it's going to add up. Starbucks coffee drinks run between 2 and 6 dollars a pop. Even if you get one of (Read More....)
In the same way that most high school students don't feel that high school at all adequately prepared them for college, most college grads feel that college didn't prepare them for the real world, especially considering how much it cost to go to college in the first place. Part of what makes the college experience so disappointing for many students is that, despite their formal education, they don't graduate with real-world skills or knowledge. It is not unusual for college students to financially flounder after graduating — with no savings and no practical work experience, an alarming number of students work dead-end jobs, just trying to pay rent and survive, and are frozen in this situation for several years.
Having gone through this quagmire myself, it is interesting to look back and research how I could have saved myself some trouble. And though there isn't anything I can do to change my past experience, I can offer a few strategies to new students to try and save them from the same fate.
- Set up a savings account. Growing up poor, my jaw dropped when I saw how much money I'd be getting from (Read More....)