If you're planning on taking out a private student loan, the 'riskier' interest rate option may be the better one
- When taking on a private student loan, borrowers usually have two options when it comes to the type of interest rate: variable or fixed.
- In each year of data that this study analyzed, with the exception of 2019 which is not yet fully mature and subject to change, the variable rate on a private student loan was always lower than the fixed interest rate.
- For prospective private student loan borrowers, this data could prove to be quite valuable if they are able to save a good chunk of change by selecting a variable rate rather than fixed.
- With the private student loan market likely to only further gain market share in the future, potential applicants can hopefully learn two main things from LendEDU's data: taking on a variable rate as opposed to a fixed is worth a strong consideration and applying with a cosigner will make a world of difference.
Male brain is programmed to seek out sex over food (2015)
- It is said that the way to a man’s heart is through his stomach, but a new study suggests that when it comes to sex, food is the last thing on his mind.
- Researchers have found that the male brain is hardwired to seek out sex, even at the expense of a good meal, with specific neurons firing up to over-ride the desire to eat.
- Intriguingly, women do not have the same neurons, suggesting that sex for females comes secondary to sustenance.
- Although the neurons have only been found in the brains of nematode worms, scientists at University College London say that it is likely that similar mechanisms are at work in humans.
- However when the salt was present at the same time as a mate, the male worm still moved towards the mate.
- In contrast, hermaphrodites moved away from the salt even when a mate was present.
67% of college students say they’ve had to buy a book written by their professor, and some are fed up with lining their prof's pockets
- In an interview with Insider, Ward said he was required to purchase a book written by his professor for a class this semester.
- Regardless of the course, the University of Alabama, and many other schools around the country, actually have rules specifically meant to prevent professors from profiting off their mandatory books.
- Other schools, like the University of Arizona, write in rules specifically geared towards preventing professors from profiting off their required textbooks.
- In an interview with Insider, University of Alabama political science major Grace Schepis said it may actually be beneficial to have the class material authors explain their work in person.
- While rules like those set in place by the universities of Alabama and Arizona prevent professors from explicitly making money off their textbooks, they don't necessarily remove all potential conflicts of interest.
Robert F. Smith, the billionaire who promised to pay off student loans for an entire college class, said his $34 million gift was inspired by a small act of philanthropy he saw his mom make
- Smith's $34 million gift to pay off student loans for an entire college class was inspired by a much smaller act of philanthropy he witnessed as a child.
- On October 16, the billionaire accepted the Carnegie Medal of Philanthropy for his donation.
- The United Negro College Fund is a nonprofit organization that provides educational programs and scholarships to African American students.
- Smith's parents were teachers, who both went on to earn their PhDs and become principals, according to a biography of Smith provided by the Carnegie Corporation.
- In September, Smith went on to expand the gift to include any outstanding educational loans owed by the graduates' parents.
- He made the largest private donation to the Smithsonian's Museum of African American History and Culture and his Fund II Foundation sponsored The New York Times' 1619 Project investigating the beginnings of American slavery, according to the Carnegie Corporation.
A university is handing out coasters that could detect date-rape drugs in drinks
- Students can stop by the college's Campus Office for Substance Abuse Prevention to pick up free coasters designed to detect if two common date rape drugs are present in drinks.
- The coasters test for gamma hydroxybutyrate (GHB) and ketamine, two of the most common date-rape drugs, according to the National Institute on Drug Abuse.
- Randall Sterling, the office's senior research scientist, said student fees pay for the coasters, which are shared with campus groups like Greek organizations, too.
- In a campus climate survey of nine public, private and community colleges and universities, the US Department of Justice found as many as 51% of women said they'd been sexually assaulted or raped by their senior year.
- Studies about the efficacy of devices like DrinkSafe coasters are years old and show mixed results, but if they heighten college students' awareness about their risk, Sterling said, then they're worth using.
4 College Admissions Essay Editing Services Reviewed: Scribendi, Wordvice, Elite Editing, Scribbr
- College applicants seeking an edge can turn to online services which, for as little as $14, will spruce up their admissions essays.
- I used the same raw essay from my daughter as a test piece for each of the four services, and requested the slowest turnaround time each of them offered to minimize the cost.
- I gave all the services minimal guidance with my submission, noting only (when prompted) that this was a college application essay.
- First, all of the services sent back essays that were, on average, felt to be an improvement over the original draft, with all of them catching numerous spelling and grammatical errors—so students with no professional editing help may do well to consider them, especially given how affordable these services are.
Here's how much money you need to save every month to put your kid through 4 years of college
- Family savings, investments, and income — in other words, non-borrowed or gifted funds — cover 43% of the average student's college expenses as of the 2018-19 academic year, Sallie Mae found.
- Using these figures, we calculated the amount someone would need to save every month to cover four years of a private or in-state public education in cash in the future.
- The calculations assume the monthly savings is put into an investment account — either at a brokerage or through a 529 plan — today and earns a conservative 6% return rate annually, after taxes and fees, until the child's first semester of college.
- Our calculations show that a parent whose child will begin college in 10 years would need to save about $322 a month in order to have enough cash to pay for four years of a public education.
Millennials are swamped in debt, and it's not just student loans
- That's according to recent findings in a new survey from Insider and Morning Consult.
- The survey polled 2,096 Americans about their financial health, debt, and earnings for a new series, "The State of Our Money." More than 670 respondents were millennials, defined as ages 23 to 38 in 2019.
- Slightly more than half of millennial respondents carry credit card debt.
- Of millennial respondents with a mortgage (27.7%), 23% owe $50,000 to $100,000, and half owe more than $100,000.
- In fact, nearly as many millennials have a mortgage as ones that have undergrad student loan debt (28.4%).
- That might partly explain why nearly a quarter of millennials have had to take out personal debt or a line of credit or medical debt, according to the Insider and Morning Consult survey.
- And 41% of millennials have a car loan — more than 34% of overall respondents, the survey found.
The hardest colleges and universities to get into in every state
- With an acceptance rate of just 5% and typical SAT scores between 1460 and 1590, Harvard University is the United States' hardest school to get into, according to a list from academic review site Niche.com.
- The rankings are based on acceptance rates and SAT and ACT scores reported to the US Department of Education.
- College acceptance rates received a weighted average of 60% in the ranking computation, and SAT/ACT scores received a weighted average of 40% (with 20% coming from scores self-reported by Niche users).
- Business Insider used Niche's state filter to find out which college and university is the hardest to get into in each of the 50 states and the District of Columbia.
- Scroll through to find out the most selective school in each state, along with their acceptance rate and SAT/ACT score range.
Check out the pitch deck this 19-year-old founder used to raise $3.2 million in seed funding from legendary investors Sequoia Capital
- Leading US venture capital investor Sequoia Capital has made its first seed investment outside of the United States to back 19-year-old Irish CEO Shane Curran in a $3.2 million round.
- Curran, who founded cybersecurity startup Evervault earlier this year, pitched for funding to build out a team of developers for his startup.
- Data breaches from poor security or hacking have become a major problem for businesses of all kinds with millions of passwords and other sensitive information leaked every year.
- In August, Amazon's widely used AWS cloud service came under scrutiny after a massive breach at credit provider Capital One. It's still pretty unusual for Silicon Valley funds to invest in early-stage European firms, let alone an entrepreneur as young as Curran.
- The 19 year old was studying business and law at University College Dublin, but has put his studies on hold to focus on Evervault.