Finding the right internship can make all the difference in launching a promising new career, and not only for young people just out of college or graduate school.

But how do you find the internship that’s right for you? That’s up to how much work you want to put into a search. To get the best internship, narrow your focus as early as possible, deciding which industry and even which company you want to intern for.

In some cases, the field may already be pretty clear. MBA students, for example, often head to Wall Street to spend a summer working in investment firms there. Likewise, journalism students naturally gravitate to newspapers, TV stations and wire services.

But in other fields, explains Peter Veruki, director of career planning at Vanderbilt University, there is a less obvious path. Careers in retailing, for example, traditionally don’t begin with internships, but that doesn’t mean you can’t get one in that field.

The key? Do your homework, and learn as much as possible about your industry of choice. Then, target companies you may want to work for. If you’re still in college or graduate school, your school’s placement office or career center is a good place to start. You can also tap into your own network, including alumni groups, college organizations or other students who have already had internships. There’s also a growing number of Web sites that post internships.

You also have to research the answers to questions arising from your personal circumstances: Does the internship pay? Does it offer academic credit? Is it summer only, or can it be during the winter semester? Is the company’s “culture” a good fit for you?

Next, begin your campaign by sending query letters to their human resource departments, accompanied with a good resume and a list of references. Don’t just send letters blindly, but instead concentrate personalized approaches to firms that really interest you.

Don’t be shy about listing your accomplishments and experiences. Your letter should be clean, simple and straightforward, while also conveying a sense of sincere interest, if not outright passion, about obtaining the internship. If you have work samples, such as published articles or design samples, include them as well.

For post-college interns, the approach has to be even more specifically focused, says Veruki. “People can use an internship to segue into a new career path, but they have to sell themselves pretty well. You have to be very believable, and convince a company to take a chance on you. Once you have your foot in the door, half the work is done.”

Finally, you need to learn as many specific details as you can about the actual work you’d be doing. For example, a good internship is one that is a blend of a little “grunt work” along with some real “substantive involvement” in the company’s product or service, says Dean V., who served several internships on Capitol Hill in Washington, D.C.

“You need to make sure that it’s not all drudgery before you sign up and start,” he warns. “Otherwise, it’ll be too late to switch.”

And if you do strike out, or have trouble finding the right internship for you, “don’t give up,” advises Veruki. “There’s a good internship out there for almost everybody. You have just have to get the right fit.”

If the chance arises to score a job interview on your campus, jump at it. Run, don’t walk, and make whatever arrangements it takes. Acing an on-campus interview can save you dozens of job-searching headaches once graduation time arrives. You can enjoy your last few weeks of school and revel in the fact that you have a position lined up–while your friends are scouring the Internet and firing off cover letters.

Prep for Success

As any high school football coach will attest, success comes directly from preparation. The same goes for interviewing, albeit there are usually fewer tackling drills. You should have ample time to practice before your meeting, and that is exactly what you should do–in front of a mirror, with the help of a friend, or whatever. You’ll feel silly looking at yourself, spouting off about your strengths and weaknesses, but it will pay off. Going over routine interview questions will allow you to be on your game, helping you avoid awkward pauses and the “ums” and “likes” that come with them. If you are a creative type and want to show some work samples off, make sure they are in good shape. Don’t pull out a tattered manila envelope from your bag. There should be no wrinkles or coffee stains. In fact, you might want to splurge on a $10 portfolio. You may not be a professional yet, but at least you can look like one.

Dress the Part

Oh, the horror. If jobseekers only knew how much dress counts, they would wear tuxedoes to interviews. This is one part of the interview process where there is no good reason to screw up. But inevitably some people do. The problem is Friday. Casual Friday was once confined to one day–a brief chance to cut loose and dress down at the office. But this trend somehow escaped and infiltrated the rest of the workweek. The norm in many places is Casual Everyday.

Don’t think that just because the place you are interviewing is lax with their dress code you can do the same. No matter how laid back and cool a company may seem, they want to know that they are hiring a professional–or at least someone who can look like one. Once you’ve signed on the dotted line, slip into the sandals and dust off the Hawaiian shirts. Until then, however, overdressing is the best advice. Think about it this way: If two candidates are clones when it comes to credentials, the one that gets the job will be the one who looks more professional. This has nothing to do with discrimination or bias. It has everything to do with dressing the part.

Show ‘Em What You Got

You should go into any interview with your guns blazing, figuratively speaking, but especially if it’s taking place on campus. A common challenge for jobseekers is overcoming the nervousness that hits prior to interviews. This is understandable; interviews are somewhat daunting. But this is your chance to hop into the driver’s seat and steal the show. It’s your school, so be comfortable and show some confidence. Without becoming cocky and arrogant, you should demonstrate to the interviewer that you are outgoing and eager. This will set a great tone for the rest of your meeting.

What you do is just as important as what you say. Keep these things in mind when it comes to body language: no fidgeting; no nail biting; keep your hands out of your pockets; and don’t slouch, slump, or sprawl–get comfy, but don’t lounge. Keep steady eye contact with the interviewers. They’ll think you are paying close attention. Try to show some energy: Avoid aerobic routines, but give your responses some life.

Case Closed

When the barrage of questions has stopped and the smoke has cleared, end the interview on a good note. Don’t be too cute or fancy. Remember, this is business, so keep it professional. When saying goodbye, make it quick and painless. Say thanks, shake hands, and follow his or her lead on where to go next. If they say, “we’ll be in touch,” respond that you look forward to hearing from them. Don’t gush about how nice the meeting was or how thankful you are for their time. While it seems polite, this could scrape away at your image and make you look desperate. When you get home, even before you change clothes, write (don’t type, too impersonal) a thank-you note–and keep it brief. It’s just another way to keep you fresh in their heads.

Then you can sit down, relax, and not worry too much about how you did. Just wait for the offers to start rolling in.

Finding extra investment money in college is not like struggling through advanced calculus or organic chemistry. It is nowhere near as difficult as perfecting your Spanish, nor is it as painful as studying for finals. An investing-friendly lifestyle could be compared to a class like Popular Music 101–not all that difficult, but you still have to show up. If you can master the art of deciphering Phish lyrics, then investing shouldn’t pose much of a challenge.

Learning to invest, and saving the money to do so, is simple when you follow a few basic guidelines and alter the way you think about money. Many college students have empty pockets because they spend their money too easily. It’s convenient to drop change into the snack vending machines and order pizza three times a week when you are busy. Awareness of one’s spending habits and the desire to build personal wealth are good virtues to develop. Compared with the daunting task of exercising away all of those extra pounds, it’s downright simple.

Just remember: The future is as important as the present. It never hurts to change the way you spend, to make your money work for you. Seriously, once you clear the difficult hurdles of deciding to invest and changing bad habits, making future money is easy.

Why Start Investing?

For one thing, it’s about time. Think of time as your best friend when it comes to investing. Relatively small investments begun at a young age can grow to sizable amounts over the years. Do not make the mistake of assuming that, because you are in college, you lack the capital to invest. You can spend that extra twenty bucks on your future–or contribute to the ever-popular student charity, CHUMP (Collegians Help Undeserving Malls Profit). The new Pearl Jam Live DVD may mean the world to you now, but investments will mean the moon and stars 40 years from now.

Material items may come and go, but you will never again have the advantage of investing in your early twenties. What are you waiting for?

You’re Never Too Broke

First of all, if you think you’re broke, find out why. Where are you spending your money? Nobody wants to make a budget (I can hear you groaning), but it may be the best way to figure out where your money is going. Living on an investment-friendly track does not have to mean you eat macaroni and cheese or ramen noodles for the next four years. Just choose what you spend your money on wisely, buy quality over quantity, and pay attention to how much.

Since many of you consider ‘budget’ to be a four-letter word, there is an alternative: frugal indulgence. This is the philosophical antidote to budget woes, a bit of well-deserved respite for the financially challenged.

The ‘frugal indulgent’ is a creature of both poverty and taste. Frugal indulgents embrace and adopt the concept of shabby chic living. The frugal indulgent knows where the money goes, spends it wisely, and yet still seems to live the high life. Non-frugal indulgents are none the wiser, because frugals exude an aura of class and cash. Adopting the FI lifestyle is the best way to invest while getting that ever-so-important education.

The Frugal Indulgence Credo

• We use the money we save by steering clear of vending machines and snack counters, only to treat ourselves to a fabulous dinner out once a week.
• We quietly nurse one or two top-shelf drinks while our friends drop dollar after dollar on cheap hooch.
• We own four good, dry-clean-only sweaters, but our friends own twice as many with pulls, stains, and tears.
• We buy fresh ingredients and have learned how to cook. We wouldn’t be caught dead with high-priced, pre-packaged grub.
• We hang out in bookstores and spend a dollar on coffee, rather than spend all day at the mall. Our extra knowledge and intellectual savvy helps out on dates.
• We invest $20 to $50 every week, just for the thrill of watching our fortune grow.

Quite simply, frugal indulgents save their money by resisting smaller temptations (snack machines, pizza, CDs) and instead treat themselves to bigger and better things on occasion. Frugal indulgents sacrifice now to live large later. While other students complain about being broke as they munch on a family-size bag of Doritos and swig a six-pack of Schlitz, you’ll be smiling as you fondle your financial statement. You seem to have more moolah, you’ve improved the quality of your life, and you’re actively building your future.

Getting Started

Get good advice. Now that you decided you want to invest, and you have a handle on living as a frugal indulgent, you should elicit as much advice as you can from those who are qualified to give it. Ask good questions, bad questions, and dumb questions; then ask even more. A financially astute relative or trusted teacher may be a good contact for your investing queries. They can assist you as you sort out the differences between mutual funds, stocks, bonds, CDs (the other kind, of course), futures, IRAs, etc. You can also contact your college business or economics department. The faculty should be able to point you in the right direction and get you started. Still looking for ways to fulfill those pesky elective requirements? Take an economics or personal finance class.

What about the Web? Keep in mind: For every online financial site that offers great advice for the beginning investor, there is one that is laden with myths and scams. It certainly doesn’t hurt to surf the Net for information and fun, just be cautious of any advice you pick up. Discuss what you find with a trusted investing mentor.

Finally, remember to have fun. You’ll be surprised how much fun investing can be if you just give it a try. You’ll wonder why you didn’t start sooner!

Ah, college. It’s four, five, maybe even six of the best years of your life. Unfettered by responsibility, answering only to academia, you’re your own master. Living away from home, pulling all-nighters, studying and partying till dawn. That’s the life. Well, no longer, because the collection man cometh.

Unless you’re a trust fund baby or your parents did some fabulous financial planning in your first 18 years, you’ve probably incurred some financial aid debt. Finaid.com reports that the “typical undergraduate student completes college with $16,500 in student loans.” And you know what that means: payback. Finaid also points out several ways to approach your financial debt. Believe it or not, the government (yes, our bureaucratic, red-tape-tainted government) is pretty flexible about all this financial aid stuff. Let’s see if we can’t help ease your burden.

Basic Repayment
There are four major repayment plans available for federal student aid like the Stafford and Perkins Loans. If you don’t run into any major financial roadblocks that threaten to default on your loans, one of these repayment plans should work for you.

Standard. You’ve got up to 10 years to pay off this baby, with a minimum payment of $50 a month.

Extended. Depending on the amount you borrowed, you’ll have between 12 and 30 years to pay off the loan. Although it decreases monthly payments, it stretches out the interest and increases the total amount you’ll have repaid.

Graduated. With this plan, payments begin smaller and graduate every two years. You have 12 to 30 years to pay off the loan while keeping your monthly payments within set guidelines. Payments must be a minimum of $25 a month, no less than 50 percent and no more than 150 percent of the standard monthly payment, as well as greater than the interest it accrues.

Income Contingent. In this type of repayment, monthly payments are based on your income and your total debt. There is a five-dollar minimum monthly payment, and payments are adjusted as your incomes changes. The repayment period is 25 years, and any debt remaining after 25 years is discharged. Do know, however, this discharged debt is taxable.

Consolidation
Students with several loans have the option to consolidate their loans into one large loan with an averaged interest rate. Consolidations often reduce the monthly payments while extending the standard 10-year repayment period. The interest rate is based on the weighted average of the consolidated loans and will not exceed 8.25 percent. Depending on your financial situation, some other repayment schedules mentioned above may be more attractive than consolidation.

Loan Forgiveness
Believe it or not, you may never have to pay back your loans. Just do a little work for the government that covered your education expenses–military service, teaching, or practicing medicine in certain communities. Uncle Sam will forgive all or part of your debt.

A year in Americorps, time spent in the Peace Corps or Army National Guard, teaching elementary or secondary school to low-income families, and other approved activities will help you attain loan forgiveness. Don’t scoff just yet. If you’re career clueless upon graduation, these humanitarian efforts couldn’t hurt. They may be meaningful and debt-reducing at the same time.

On the Verge of Defaulting
OK, so you know those things called “credit reports” that help you buy your first car or first home? They don’t look so hot with a big red “loan default” emblazoned across the front. The last thing you want to do is default on your financial aid loans. There are several nasty repercussions that come with shirking on a government loan, including wage garnishing, being sued, and losing federal interest benefits. If you think you are on the verge of default, apply to postpone your repayment.

Deferment. If you apply before you stop payments and provide proof of why you need deferment, you can postpone repayment for a set period of time. It is not granted automatically and usually goes to those in dire financial situations: students enrolled in undergraduate or graduate school, disabled students in rehabilitation programs, or those who are unemployed or experiencing economic hardship.

Forbearance. If you do not meet the strict requirements for deferment, you can apply for forbearance–a postponement or reduction of your payments. You will have to continue to pay interest during the forbearance period, granted in twelve-month intervals for up to three years.

If you haven’t already, sign up with Upromise. Once you sign up, you can earn money for your child’s college by shopping online, eating at restaurants, and more! An easy way to keep track of which merchants offer money through Upromise, is to compile a list of your favorite merchants. For example, here is part of a list I compiled:

Being successful is about:

• How well you understand what needs to be done.
• How skilled you are at doing it.
• How motivated you are to do it.

For example – you have a project to do: How well do you understand what needs to be done? How capable are you of doing what needs to be done? How motivated are you to do it? What you need to know… Time management – or managing what you do is about the balance you place between:

1. Doing the things that are urgent and need to be done immediately (important)
2. Doing things that are important but do not need to be done now.
3. Doing things that are urgent but not really important.
4. Doing things that are neither urgent nor important.

Every single thing you do will be found in one of these four categories. The key from now on is to make decisions on what to do based on your fundamental purpose. What you are here to accomplish should determine where you put the emphasis on what you do.

Spending all your time in 1. is simply crisis management – or firefighting. Spending time in 2. is where you need to be – getting the important things done in good time so things don’t just pile up and start to stress you out. 3 and 4 are literally a waste of your time. If it is not imporant – get rid of it from your life.

Where is your leisure time? You’ve got it – it is in 2. – You need leisure to recharge your energies – which you need to do the things that are important and part of your purpose in life – so leisure is in 2. Make sure you take it in good time and so avoid finding you are desperate for a break but because it is now in 1. – you have no time…. ]]> http://www.kelloggforum.org/time-management/feed/ 1 http://www.kelloggforum.org/effective-studying/ http://www.kelloggforum.org/effective-studying/#comments Sat, 04 Oct 2008 23:39:06 +0000 Khan http://www.kelloggforum.org/?p=174 What we are talking about here… Just about everything you do in your studying you can call “a project” – whether it is revising for an exam or writing a report.
A “project” has a beginning, middle and end – simple! It may also involve you in research at any stage. Why it is important… By thinking in terms of projects – you force yourself to map out a route from where you are to where you are trying to get to. Work can be coming at you in all directions and so in order to avoid getting “blown away” by it all – let’s get organised! What you need to know… Phase 1: Definition – decide what you need to do and by when – map out a plan.

Phase 2: Research – get started! The sooner you start making some inroads into all this the sooner your unconscious mind can start working for you (see “Whole Brain Thinking”).

Phase 3: Analysis – doing the bulk of the work.

Phase 4: Conclusion – bringing it all together – finishing it off cleanly. Next Steps… Lets give you a helping hand here! Fill in the spaces with the different things you need to do in each phase for each project. You can make a separate schedule for each project or put them all on a single spreadsheet. Keep updating your plan week by week as you finish tasks and phases and new projects start. Keep a paper copy in your pocket at all times to remind you what you need to be doing. Have fun and enjoy!! ]]> http://www.kelloggforum.org/effective-studying/feed/ 0 http://www.kelloggforum.org/basic-funding-options/ http://www.kelloggforum.org/basic-funding-options/#comments Wed, 01 Oct 2008 23:32:47 +0000 Khan http://www.kelloggforum.org/?p=168 Ever since good old Tony Blair introduced the new fees and scraped the maintenance grants, the prospect of going to uni has never been the same… you guys have the extra weight on your shoulders of mounding studying costs… but does it have to be that way?

We’ve got a handful of tips and routes through which you maybe able to acquire additional funding to get you through the next 3/4 years… so then, here we go…

Tuition fee support: you’re parents (or spouse if you’re hitched already) will be individually accessed to find out how much of your year fee’s your eligible to pay… if they don’t earn enough and they’re below the threshold, they’ll be paid by your local LEA (Local Education Authority).

Student loans: These aren’t like any other loan you’ll be offered in your life… these extra low interest rate loans are the governments solution to the scraped maintenance, and are usually the best (sometimes only) option to help fund you through the academic year… you don’t start paying them back until the April after you graduate, but be prepared for the balance sheet that will drop through your letter box at the end of your study!!!

Hardship loans: If you get through your usual instalments of your student loan, each uni has access to a pot of money for when you get really hard up! If you have bills you can’t pay, and can prove this through your bank statements, usually with your outgoings exceeding your income… normally you’re entitled to a maximum of £500.

That’s where a career and technical school can come to the rescue. Most career and technical schools offer shorter, less expensive, career-driven education than you would find at a four-year university. There are several benefits to enrolling in a career and technical school instead of attending a traditional four-year college or university.

Finding a Technical School

There are so many technical schools out there that finding the right school for you can feel like an overwhelming task.  So, where should you start looking and how can you find the best school for you?  The key to finding a good fit is doing your research.  There are plenty of good online resources and directories, such as TechnicalSchool.org, that allow you to select a program of interest, location, and degree so that you can quickly narrow down your list of schools and then request additional information from the schools you are interested in attending.  This is a great way to get started and can help you jump start your search for a technical school!

Time for School

Let’s start with time. The average time it takes to obtain a degree from a career and technical school is two years. Because your coursework is focused on skill specific education (for example, computer programming, culinary arts, or business management), you don’t have to take classes outside of your degree to graduate (for example, geology, psychology, or music appreciation). Most classes are offered either during the day or at night for students who want (or need) to work while pursuing a degree. Less time spent in the classroom can mean less tuition costs and a quicker jump into the workforce.

Cash Strapped?

It’s expensive to go to school. The average four-year degree at a public university can cost you as little as $37,000. A two-year degree from a career and technical school can start at a far less expensive $5,000, depending on the program and degree. Most career and technical schools are private, meaning you cannot obtain government grants to attend. However, these schools help with financing and student loans. You may leave with some debt, but the fact that most students graduating with a degree from a CTE find a job soon after receiving their diploma means being able to pay back school loans.

Entering the Workforce

Which brings us to job placement. The lure of the career and technical school is that they will help you find a job once you have obtained a degree or certificate. Many career and technical schools offer career and job placement services for graduates. The Creative Circus in Atlanta, a design and advertising school, boasts a 97.2% job placement rate. Also, because the majority of your instructors are drawn from the workforce, you can begin networking and making business contacts, which will help you in your job search.

Don’t Let Bad Grades Stop You

Are your grades not so good? Do you freeze up when you have to take standardized tests? Most career and technical schools offer an open admissions policy. For some schools that means anyone with a H.S. diploma or GED can apply, and for some schools it means anyone over 18 is welcome. Some schools are interested in grades, and the classes you took in high school, and some would even like to see your SAT or ACT scores, but that depends on the course of study you are interested in.

If you are still worried about actually going back to school, career and technical schools offer smaller classrooms, which means more one-to-one instruction. If you learn better by doing, you’re also in luck. Most career and technical schools offer hands on experience (either through apprenticeships, labs, or co-ops), often in cooperation with business and other organizations in the area.

Other advantages of attending career and technical schools include rolling admissions, distance learning (being able to take classes from the comfort of your own home), and some Internet-based classes.

Consider a career and technical school as a viable alternative if money, time, and grades are keeping you from a four-year school.

So is it best to go with the most freebies on offer, the best competitive rates on interest, the potential bank charges posed upon you in times of cash flow problems, or even with a long term outlook with graduate loans and special deals for getting your first mortgage…

Some good points to consider:
a) Does your campus have a bank situated on site… this can prove to be very useful!

b) How close would your bank be to the campus or are they situated amongst a lot of the student housing areas around the city?

c) Have a browse around the internet banking facilities, most banks allow you to have a virtual tour, so spend a quick 5 minutes browsing around… banking on the net could save you tonnes of time and make your life a lot easier!

d) What deals do they have on their credit and debit cards… cheque guarantees and credit limits count in the long term, you never know when then can come in useful!

e) What are the banks opening hours? Are they open on Saturdays or do they close early on a Friday??? All these types of things are good to know.

So then, don’t go rushing into picking the first bank that comes along, or the one that offers the best freebie… there’s a lot more to it than that.