How Many Hours of Sleep Do You Get?

by Broke Grad Student on September 9, 2008

When I left the confines of the college campus earlier this year, I thought my night owl days were numbered. I was entering a 9 to 5 world, and it didn’t seem like it’d be plausible to keep up my 3 AM bedtime.

Fast forward eight months and I’m sitting here in front of my computer at 3:00 AM, writing about how that didn’t turn out to be true at all.

While most of my friends need around 7 to 8 hours of sleep to be fully functional at work the next day, I function fine with 5 to 6 hours of sleep. In fact, sometimes I feel more tired when I sleep for 8 hours.

Since we all function differently, I thought it’d be fun to turn the tables and ask all of you about your sleeping habits. How many hours of sleep do you get? What happens when you get too little or too much sleep?

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25 Tips, Ideas, Resources for Paying Back Student Loans

by Broke Grad Student on September 8, 2008

The average college student graduates with around $20,000 in student debt these days, myself included. While this may sound like a daunting amount of money, plenty of other people are in the same boat, and they’ve shared their stories, experiences, and advice for you to read. Here are 25 great stories, resources, and tips for paying off student loans.

Paying Student Loans Quickly

If you’re looking for some inspiration, then check out these stories of people who have paid or are paying off their student loans as quickly as possible.

Paying Student Loans Slowly

Some people look at student loans as good debt, because they usually have a lower interest rate than other types of debt. The same people are usually in no hurry to pay back their student loans.

Paying Student Loans Personally

If you’re interested in learning about how other people attack their student debt, then check out the following articles as people share their debt reducing strategies.

Consolidating Student Loans

Consolidating your student loans could lower your monthly payments and make payments more convenient. However, it could potentially increase the total interest you pay if you’re not careful. Check out these articles to learn all about student loan consolidation.

Tips and Advice on Paying Back Your Student Loans

If you’re just looking for some great general advice on how to tackle your student loans, then this section is for you.

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Back To School Giveaway Over, Prizes Await Winners

by Broke Grad Student on September 7, 2008

The College Money Network’s Back to School Giveaway ended last week, and we’ve contacted the winners. Ten lucky people have won prizes, but a few of them have yet to be claimed. That means there’s still a slight chance you could win a prize even if you haven’t been contacted yet. We’ll be posting an official announcement about the lucky winners once all of the prizes have been claimed.

In the meantime, check out some articles from around the College Money Network.

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Tackle Half Dome, Tackle Life, Tackle Debt

by Broke Grad Student on September 5, 2008

When I woke up this past Saturday, it seemed like it’d be another lazy Labor Day weekend this year. My roommate flew home for the weekend, and none of my other friends had made any definite plans. I wasn’t planning on going anywhere after rolling out of bed around noon that day, but fate had some different plans for me that day.

3:00 PM

A phone rings. I answer it. One of my friends asks if I’d be up for a midnight hike to the top of Half Dome.

“Sure,” I reply without a second of hesitation. He seems a little surprised by my lack of hesitation.

I’m not sure if it’s just my personality or some type of genetic defect, but I’ve never been one to turn down seemingly crazy, spontaneous road trips. As it turns out, this road trip would turn out to be even crazier than I expected.

7:00 pm

I meet up with 3 of my friends after making a quick trip to REI to pickup a headlamp, energy bars, and some convertible hiking pants. We look up directions, pack our stuff into the car, and start driving to Yosemite National Park.

11:00 PM

We arrive at Yosemite National Park, get out of the car, and it’s pitch black (thanks, new moon). I’ve never seen so many stars in my life.

We gear up, put on our headlamps, and start the 8 mile hike up 4800 vertical feet to the summit of Half Dome. A couple of us start joking about bears, serial killers, and The Blair Witch Project.

Midnight

We actually run into a few groups of hikers on their way down from Half Dome. They look exhausted. One group tells us to be careful because they think they saw something not to far back on the trail. One of the guys, carrying what looks like a machete, asks if we have a knife.

After that encounter, two of my friends make noise for the rest of the hike up by telling horribly long and boring stories. In retrospect, I should have picked up a bear bell at REI.

1:00 AM

My body starts to struggle after finishing the steep climb to the top of Vernal Fall. My legs start tightening up, and my heart is racing. We’re not even a fourth of the way to the top, and I’m already questioning whether my body will let me make it there.

We take a prolonged break. I rehydrate, eat an energy bar, do some stretches, and start to feel better again.

2:00 AM - 5:00 AM

A big blur. While my physical condition improves, one of my friends starts to struggle. He later admits to seeing colors at one point and also questions whether his body will let him make it to the top.

We take frequent breaks, and my friends seem to be on the verge of falling asleep at times. Being a night owl, I’m wide awake, but my body begins to struggle again. My legs start to cramp up while climbing up the granite steps leading up to the base of the Half Dome cables, but I continue through the pain.

5:15 AM

We make it to the cables about an hour before sunrise. We lay down to get a little rest before going up the cables. As the sunlight starts to creep over the edge of the horizon, a couple of us realize that we were laying a couple feet from the edge of a cliff.

6:00 AM

It’s time to tackle our final obstacle — the cables. The final 400 foot ascent is a steep climb with two steel cables to use as handholds and periodically spaced 2×4s to use as footholds. It doesn’t look too bad from this angle. (These pictures were taken in the future, after coming back down.)

Half Dome cables

But take a look at the cables in context. (Yes, those tiny specs are actually people.)

Half Dome

The cables turn out to be a relief for my ailing legs, because I get to use my arms to help them out. There’s no way I’m turning back at this point. We all make it to the top. I’m exhausted and sore, but it’s beautiful up there.

Clouds from Half Dome

I walk around, explore, and peer over the edge at the valley 4800 feet below. We all find some rocks to relax on while enjoying the panoramic views until the sun finally makes its grand appearance.

Half Dome sunrise

We eat breakfast, rest up, and start our descent.

8:00 AM - 2:00 PM

Reenergized from making it to the top, my legs had some extra life on the way down. We take our time and stop to look at the things we couldn’t see at all on the way up. This includes two waterfalls, a river, and tons of amazing scenery. We also start to comment on how crazy it is that we hiked up all of that in the dark.

2:30 PM

We tackled Half Dome! Back at the car and time to drive back home.

How This Relates to Life and Debt

(Cue cheesy music)

Life is filled with obstacles, and debt is just one of the many obstacles we face throughout a lifetime. When I think about the role models I look up to, they all share a few common characteristics that I admire. They are fearless when it comes to:

  • taking risks
  • overcoming obstacles
  • learning from mistakes

Hiking Half Dome without any preparation was definitely a risk. As a result, I had to overcome some physical obstacles that I didn’t expect, but now that I’ve made my mistake, I hope to learn from it. I know that I need to do some serious training before taking on Half Dome again, and some really serious training if I take on something bigger.

Debt is inherently risky. You’re spending money that you may or may not be able to pay back in the future. It’s like building a mountain in front of yourself that grows taller with every dollar you borrow. Before you know it, you’re faced with an obstacle that’s seemingly impossible to overcome.

What I’ve realized is that it’s not the mountain that’s the obstacle. It’s the things you run into while trying to make your way over the mountain that get in the way. Some people look at the mountain and give up before even trying. Others make it part of the way and give up after one obstacle or one mistake.

Me? I’m only part of the way over my mountain of debt, and I know that I’ll experience some pain along the way. I’m sure to make some mistakes, run into unexpected obstacles, and at times, doubt whether I can really make it or not. However, after this crazy weekend, I’m ready to take it all head on. If I can tackle Half Dome, I can tackle my debt.

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10 Stupid Ways College Students Waste Money

by Broke Grad Student on September 4, 2008

For some students, college is all about partying. For others, it’s all about studying. While you may never see these two groups hanging out at the frat house together or studying with each other at the library, there is one thing that bonds them together. It’s the one thing that bonds all college students together — the uncanny ability to waste money. Here are 10 stupid ways college students waste money while they’re in school.

1. Buying new textbooks.

I bought new textbooks my first semester of college. Looking back, I can call it a rookie mistake, but now that I’m older and wiser, I can write articles explaining why you should never buy another new textbook. It can literally save you hundreds of dollars over the years.

2. Paying for software.

I’m a bit of a computer geek, so I didn’t waste much money on software in college. Some of my friends did though, and it made me cringe. You can find practically every type of program a college student needs for free, and these programs are conveniently categorized and listed in my broke student’s guide to free software and online resources.

3. Going over on cell phone plans.

I think this is something every college student does at least once. Who knew you’d want to talk to your parents this much when you left home? Or maybe you got a little carried away while texting some of your friends. Either way, the outcome is the same — a jaw-dropping cell phone bill and an extra dent in your wallet. Avoid costly overage fees by adjusting your phone habits or trying alternatives like Skype.

4. Keeping memberships that aren’t used.

Remember that free Netflix trial that was awesome over the summer, so you decided to stay enrolled? Then school starts, life gets busier, and you suddenly don’t have time to watch movies anymore. In fact, you get so busy that you forget to cancel your subscription and end up paying a monthly fee for something that you’re not even using anymore.

5. Playing too much World of Warcraft.

Arguably the most addicting game created so far, World of Warcraft has sucked over 10 million people into its world. While I still have yet to actually play the game, I witnessed the effects of it on many of my friends in grad school. It’s truly more than a game. It’s an addiction. And with that addiction comes a monthly fee and countless hours “wasted” in front of the computer.

6. Eating out too often.

Call it laziness, call it convenience, or maybe you just really suck at cooking. Eating out is fun … and expensive. Limit the number of times you eat out each week, and you may find a pleasant surprise waiting in your wallet — money.

7. Drinking too much.

Most college towns have hangouts with dirt cheap drink specials, but that doesn’t do you any good if you just down ten $1 beers instead of three regular priced beers. We also don’t make the best decisions after having a few too many, so keep it in moderation and avoid doing something stupid like buying a round of shots for the entire bar on your broke college student budget.

8. Failing or dropping out of classes.

I have a couple of friends who have been working on their bachelor’s degree for 8 years now. College isn’t for everybody. The money that they’ve repeatedly spent on courses they’ve failed or dropped out of could have been put to better use towards something like specialized training or certification in a field that they’re interested in.

9. Spending leftover money from student loans.

If your student loan money exceeds your tuition and fees, you end up getting the leftover money back, and you’re faced with a big decision. What do you do with the money? The wise decision is to give it back — use it to make an early payment on your student loans. What most college students end up deciding to do — spend it.

10. Not saving any money.

If I had to choose between robbing a street performer’s tip jar or a college student’s savings account, I’d choose the tip jar. Admittedly, most college students don’t have much to work with in the first place. However, I still think every college student should try to keep a small emergency fund in a high-yield savings account. That way they’ll be prepared after inevitably doing one of the money-wasting things I previously mentioned, and in the meantime, they’ll earn a few extra dollars.

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