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The New York Times Academic Rate Costs… MORE?!

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In my constant quest to find high quality journalism, I often find myself reading articles from the New York Times. Granted, I have little to no use for their ultra biased opinion/editorial pages (read an inside view from their former editor) and I sometimes find that bias seeping into their political news. However, their non-political reporting is, in my opinion, among the best on the planet. They also have an army of reporters all over the globe covering all different types of topics. If you’re looking for someone covering the impact of pine needles covering the northern reaches of a certain forest and how it impacts local fauna, chances are that the New York Times has someone covering that topic.

Before I subscribed to the paper (to be clear, I did wind up subscribing to the paper), I came across the fact that their special academic rate… actually costs more than the regular rate! That’s right, if you’re trying to get a discount because you’re an educator, then do not hold your breath because there is no discount offered. In fact, you will pay more for an all-digital subscription (see the chat screen shots below).

What I was not able to cover in the screenshots above is that the weekend subscription at the academic rate, which is the one that I ultimately chose, offers no discount. The rate is the same whether or not you are subscribing as an academic. The only difference is that the academic rate continues beyond the first year of the subscription and, at that point, you wind up paying less than the traditional subscription rates for either the all-digital or any print subscription. But what a horrible marketing approach to offer an academic rate that, for the first year at least, actually charges you more for an all-digital subscription!

Believe me, I want to be outraged by this, but at the same time and as I noted above, I went ahead and got the subscription anyway. I want to give it a shot, especially since their non-political reporting remains among the best on the planet. And for those of you who think that the New York Times makes everyone who reads it an extremist – stop it. I also consume quite a bit of right-leaning media sources as well as an increasing number of high quality independent and nonpartisan sources, so this subscription is just helping to round out my overall media consumption.

Alarming Trends in Private Student Loans

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Private student loans suck. I have one private student loan and one federal government student loan and I would much rather have the federal government loan than the private one. First of all, the private loan has an absurd interest rate. Second, the inept organization that gave me the private loan once recorded me as not having made a payment…while the loan was in deferral status! Idiots!

Anyway, the Project on Student Loan Debt released a press release the other day regarding some alarming trends on private student loans. I’ve included it below for your information.

As Student Debt Rises, More Undergraduates Go Straight to Most Dangerous Loans

New Analyses Find Disturbing Trends and Inadequate Disclosure Rules

Berkeley, CA – In 2007-08, nearly two-thirds (64 percent) of undergraduate students who borrowed private student loans did not take out all they could in safer, more affordable federal loans, according to an analysis released today by the Project on Student Debt. In addition, the proportion of all undergraduates who took out private loans increased dramatically – from five percent in 2003-04 to 14 percent in 2007-08.

“Private student loans are one of the riskiest ways to pay for college,” said Lauren Asher, president of the Institute for College Access & Success, home of the Project on Student Debt. “Both the federal government and colleges should do more to prevent students from taking out unnecessary private loans.”

Like credit cards, private loans usually have variable interest rates that are higher for those least able afford them – as high as 18 percent in 2008. But unlike credit card debt, private loans are nearly impossible to discharge in bankruptcy. They also lack important consumer protections that come with federal student loans. Private loan borrowing has slowed since the credit crunch, but these risky loans remain available from major lenders.

Among the Project’s findings:

• While experts agree that private loans should be used only as a last resort, the share of private loan borrowers who could have borrowed more in federal Stafford loans increased dramatically, from 48 percent in 2003-04 to 64 percent in 2007-08.

• Private loan borrowing is not limited to students at high-priced schools. In fact, the majority of private loan borrowers (63 percent) attend colleges with tuition and fees of less than $10,000.

• Among all racial and ethnic groups, African Americans are now the most likely to borrow private student loans. The percentage of African-American undergraduates who took out private loans quadrupled between 2003-04 and 2007-08, from four percent to 17 percent.

New Disclosures Inadequate
“Without stronger consumer protections, students will continue to be vulnerable to aggressive private loan marketing tactics and inadequate information about their borrowing options,” said Asher. The Federal Reserve Board recently finalized regulations for new consumer disclosures for private student loans, as required by Congress last year. However, the Project’s analysis of the new rules reveals the Board did not go far enough to warn consumers about private loans and make them aware of other options.

“We are very disappointed by the Federal Reserve Board’s decisions. The disclosures will not have the effect that many in Congress had hoped,” said Asher. “These weak regulations underscore the need for mandatory school certification of private loans so schools can intervene when a student has better financing options, and for a consumer financial protection agency that would more effectively protect students and families from dangerous private student loans.”.”

If you’re in need of a student loan, I strongly urge you to go with government programs over private ones.

The Perfect Service for Anyone Looking to Move

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As many of you probably know, last summer I moved from Deal, New Jersey to Tinton Falls, New Jersey – both in Monmouth County. My roommates and I rented a gigantic U-Haul truck and loaded it up with our stuff to make a few trips back and forth between the old apartment and the new townhouse. I’m not sure if I went over it at this site or not, but I was so out of shape that after about an hour and a half of moving stuff, I had to call up some of the undergraduates in my fraternity to come over and do the moving for me! Hey, I paid those kids good money and they did an awesome job loading and unloading my stuff for me (and my roommates).

Which brings me to a website that I came across the other day called MoveMe.com. MoveMe.com helps people who are looking to rent or buy homes, move to a new home, or look for finance to take care of their homes. It is what you’d call a removal company – in other words, this is a company that will come to your place, prepare removal quotes to move you from one location to another, and then do the actual move for you. Talk about a service that I could have used over the summer! MoveMe.com provides a man and van power for your move – in other words, they’ll get you the manpower and the right vehicle to make your move a success!

Now, I should note that this service is for my readers based out of the United Kingdom so be aware of that as you consider whether or not you want to use this service. If you head over to the MoveMe.com site you’ll notice that there is a very intuitive interface. You enter your current postal code and which postal code that you’ll be moving to and then their internal engine does the rest for you. And bear in mind – this is a free removal quote for your consideration. I strongly suggest that, when you plan your move, if you’re over in the United Kingdom you consider using a service like MoveMe.com…and I say this as the voice of experience!

Now that I’ve found this site, I hope to find similar services in the United States. Lord knows that the next time I move, I’ll need a service like MoveMe.com to help me get the job done quickly, efficiently, and professionally!