Understanding the financial aid process

Navigating the financial aid process can be daunting for first generation and low income college students  Check out this handy infographic from our friends at Debt.org for some guidance to make the process less intimidating.

While I think this is a great representation of the financial aid process, one thing you should be aware of is that private loans should be an ABSOLUTE LAST RESORT.

Private loans are much riskier than government-backed federal loans. In fact, private loans have a history of predatory lending practices that "take advantage of a borrower’s lack of understanding about loans, terms or finances in general," according to our friends at Debt.org. With that in mind, it's no wonder that private loans have negatively impacted first generation and low income college students.

For most first generation and low income college students, you'll get enough financial aid between grants and federal loans. But for students where this is not the case, definitely apply for scholarships and talk to your financial aid office before you even consider private loans.

Got questions? Please feel free to ask The Advisor about it.

Under Armour Internship/Scholarship

Under Armour, the sports performance apparel, footwear, and accessories giant, is looking for the  two college undergrads to join the brand this summer as the “Under Armour Ultimate Intern Team.” If you think you can be the "ultimate intern" check out the information below!

Students may apply from April 5 - May 3 at http://ultimateintern.ua.com/ by uploading a resume and completing a handful of social challenges throughout the application process including developing a 40 second speech, interviewing an athlete, and creating a video documentary and a custom Tumblr page.

 Two interns will be chosen to work in the areas of digital and social engagement at Under Armour and will be provided exclusive access to sporting events, athlete training sessions, and the opportunity to test some of the brand’s innovative new performance technologies. The “Ultimate Intern Team” will be a part of the digital marketing team that concepts, writes, and captures content to distribute through Under Armour’s social media channels, activating around everything from product releases to athlete initiatives.  

 Developed with agency partner Red Tettemer + Partners, the “Ultimate Intern” search has grown into a successful social franchise for the brand, bringing in thousands of applicants and pieces of user generated content across the social web over two years.

 “At our core, Under Armour is about inspiring the next generation of athletes to continuously push the boundaries of performance. The Ultimate Intern search serves the same mantra as we look for the next young professional who is competitive, humble and hungry to succeed,” said Dan Mecchi, Under Armour Director, Digital Media. “The unique application process is designed to be a social combine – the strongest performers on the ‘playing field’ are the candidates that have what it takes to intern and succeed at Under Armour.”

 The internship is open to current undergraduate students who will be returning to school following the summer. Selected interns will each receive a $5,000 scholarship paid directly to his or her school and $500 in Under Armour apparel and footwear. The top ten candidates will be announced on May 3 and will participate in a Skype interview with Under Armour executives. The final selected candidates will be announced on or around May 10 and will report for their summer internship from May 28 through August 9, 2013.

 For full terms, more information, or to apply, visit: http://ultimateintern.ua.com/.  

 About Under Armour, Inc.Under Armour® (NYSE: UA) is a leading developer, marketer, and distributor of branded performance apparel, footwear, and accessories. The brand's moisture-wicking synthetic fabrications are engineered in many different designs and styles for wear in nearly every climate to provide a performance alternative to traditional natural fiber products. The company's products are sold worldwide and worn by athletes at all levels, from youth to professional, on playing fields around the globe. The Under Armour global headquarters is in Baltimore, Maryland. For further information, please visit the company's website at www.UA.com.

Good luck if you're applying! 

Got questions? Please feel free to ask The Advisor about it.

Should I choose a marketable major over an interesting one?

A reader writes:

"Currently I am pursuing a BS in Business Studies with a focus in Computer Information Technology. I chose this focus (IT) because I feel like it is necessary knowledge. However, I am only moderately (at best) interested in the IT world. I am trying to decide if I want to change my focus to Small Business Management or International Management (both of which I am very interested in) or keep the IT focus being that it seems this is more necessary (or seems this way to me). Am I wrong in thinking that the IT focus is necessary and would make me more competitive? Would a small business or international business focus be a good choice of a major?

Additional info: If there is such a thing as a dream job mine  would be owning a microbusiness (makes me want the Small Bus. Management) that interfaces with customers via the internet (Makes me want the IT focus). Also I speak Spanish and would be very interested in expanding business into Latin America, potentially (makes me interested in the International Business)"

Choosing a major is not always easy, especially when it comes picking a specialization area within your major. I usually encourage students to consider both their interests, professional goals, and what they dislike to help clarify what direction to go in. In your case, both your interests and professional goals are pushing you away from the IT focus. Pay attention to that.

Also, choosing a major or specialization based on what you think will be more marketable rather than what matches your interests, professional goals, and ultimately make you happiest can be a dangerous thing. Think of it this way: If you are unhappy in your classes and start to do poorly, would it have been worth it because you thought it was more marketable?

However, one important thing to keep in mind when it comes to business is that your experience is typically more important than your focus area in college. So you may be better served by seeking out leadership positions, volunteer opportunities, or internships in international, small, and IT business. Not only will this experience help you clarify which focus is the best fit for you, it will help you be more qualified for positions after graduation 

Got questions? Please feel free to ask The Advisor about it.