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University of Michigan Men's Basketball

Wednesday, December 18, 2013
by Tom Stachler,ABR,CDPE - Group One Realty Team

As the 2013-14 NCAA men's basketball season tips off, the University of Michigan Wolverines find themselves in an enviable, albeit challenging, situation.

The team is coming off a season in which they:

  • Finished the regular season with a record of 13-5
  • Split the season series with two of their biggest rivals, Ohio State and Michigan State
  • Earned their first Big Ten championship (sharing the honors with the Buckeyes and Spartans) in 27 years (1986)
  • Made program history by opening with a 21-2 record
  • Reached the NCAA tournament's prestigious Final Four (last accomplished in 1992-93)
  • Gave Louisville a run for their money in the National Championship game, losing 82-76

So expectations are pretty high for head coach John Beilein's relatively young Wolverines' 2013-14 squad. And they will have to try and meet or even exceed those expectations without the services of point guard Trey Burke and shooting guard Tim Hardaway Jr., both of whom chose to seek fame and fortune on the NBA's hard court.

Look for Beilein to lean heavily on freshman point guard Derrick Walton Jr. and sophomore shooting guard, Nik Stauskas, to try and fill the Burke-Hardaway Jr. void.

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Understanding College Financial Aid

Monday, July 11, 2011
by Tom Stachler,ABR,CDPE - Group One Realty Team

CRASH COURSE IN COLLEGE FINANCIAL AID

Teens looking through the mailThe thick envelopes mean yes; the skinny ones mean no. That’s the stereotype when it comes to college acceptance letters. But not every school is right for your child’s academic path—or your family’s financial future.

“The cost of college has skyrocketed at three times the rate of inflation over the past decade,” says Farnoosh Torabi, financial expert and author of You're So Money: Live Rich Even When You're Not.So what’s a student with a limited tuition range to do? Get educated on financial aid packages.

Scholarships and Grants

These awards are usually made on the basis of achievement or financial need.

Pros: They never need to be paid back and most require nothing of the student other than maintaining grades and/or a specified major.

Cons: Scholarships can be lost if there’s a change in majors or the student’s GPA drops. And these awards don’t go on forever. “Scholarships have expiration dates,” Torabi says. “Read the fine print, understand when the money runs out, and plan accordingly.”

Student Loans

Torabi suggests approaching private student loans with caution given their interest rates. “Federal loans have far better repayment and forgiveness options for borrowers,” he says.

Pros: Loans are easier to qualify for than scholarships and grants and are more widely available. Good student loans also generally have lower interest rates.

Cons: They must be paid back, and four years of college can add up to tens of thousands of dollars.

Work-Study

Work-studies offer practical benefits. “Traditional part-time jobs can cut into class and study time,” Torabi says. “But work-studies offer students a way to make money and stay on top of courses.”

Pros: Work-study jobs are on-campus and often in the student’s major or an area of interest. Some may allow students to cultivate their resumes as they pay for their education.

Cons: They do take time and require a real commitment—if the arrangement doesn’t work, students can lose the aid.

Making Sense of Financial Aid

Use this chart to evaluate various financial aid packages. Enter all offers from the schools, then use the last column to list other things to factor in, such as the amount of a scholarship compared to the time your student would have invest in a sport/activity.

School Name
Annual Tuition + Fees
Grant/
Scholarship Amount Offered
Work-Study Offered
Loan Amount Needed
Amount out of pocket
Debt at Graduation
Notes/Other Considerations
               
               
               
               
               

 

Learn more about more funding a college education at statefarm.com®.
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