1. Fought for children to have access to their parents’ insurance plan until they’re 26.
This is near and very dear to my heart. I hadn’t been to a doctor in years. I made it through college with nothing more severe than a cold and a bruised ego from too many bad decisions. Naturally, 2.5 seconds after graduating, I got hit with a gnarly kidney infection. Pre-Obama, this would have meant that I was SOL because I was no longer a student. Luckily, that is no longer the case. Especially in this rough economic climate where millions and millions of people are unemployed or in jobs that offer no benefits, this is a great law that protects so many of us.

2. Cracked down on aggressive marketing of credit cards to college students.
We all know the danger of credit cards, but the lure of having hundreds (or thousands) of dollars at your immediate disposal can be great…but not if you lack the means to pay the bill every month. Credit card companies used to actively push credit cards onto students, who usually don’t have enough funds to be responsible credit card owners. So it was not uncommon to graduate college with thousands of dollars in credit debt in addition to student loan debt — making it easier for companies to justify raising interest rates (more debt = higher risk). Now anyone under 21 must have a co-signer and/or verification of independent income. Credit card debt can have a harrowing effect on one’s financial status for many, many years  and Obama’s emphasis on protecting college consumers is definitely admirable.

3. Signed “Don’t Ask, Don’t Tell” repeal. 
This is a serious step forward in the gay civil rights movement. Allowing gays to serve openly in our military is an important step in removing the societal stigma that unfortunately still surrounds homosexuality. We still have a lot of work to do until gays are granted all the rights and protections of an American citizen. But, I can’t deny the fact that gays were willing to die for their country while fighting wars for freedom, despite not being able to express their love for their significant others was a serious stain on America’s reputation as the “land of the free.”

4. Made financial aid more accessible
College is getting obscenely expensive, and it’s completely not fair or just for higher education to only be accessible to the children who come from well-off families. Student loan companies were screwing over students by attaching exorbitant fees to loans — and Obama made that illegal. Moreover, he expanded the amount of federal money dedicated to funding Pell Grants, financial assistance granted to lower-income students. Education is absolutely necessary for most people to advance in the current structure of our society, and giving lower-income students the opportunity to create a better life for themselves is definitely laudable.

5. Refused to cut funding for Planned Parenthood.
Planned Parenthood provides absolutely essential health care services for lower-income and college women. From pap smears to STD tests to abortion to health education, Planned Parenthood is an important organization. During negotiations to avoid the government shutdown a few months ago, Republicans lobbied to cut funding (abortion, the most controversial service PP provides, cannot be funded by federal money anyway). The sustained attack on women’s reproductive rights by oppressively conservative politicians is scary and unnerving, but I am so glad Mr. Obama is willing to fight on our behalf.

Before the big clean-out. And this is only one half.

Everyone’s got a vice, a bad habit, something they know they need to change. Unfortunately, everyone also has a million excuses why they just can’t do it. Not anymore. Every month we will be following a different CollegeCandy writer as she takes on a personal challenge. This month we’re following Kelly as she proves to her mom, and her wallet, that she can go one month sans shopping.

Finally, the last week of my challenge. I never thought I’d get here without sneaking around UrbanOutfitters.com at midnight to get my window shopping fix (Okay, so maybe I did it once. Or twice.), but here I am. And surprisingly, I’m not counting down until 11:59pm, April 30th with my credit card in my hand.

In other words, it was a successful month. There was a lot more to be learned than just limiting my purchases of white shirt after white shirt after white…you get the picture. Keeping track of all of my expenses was much more eye opening than I thought.

According to my paychecks (assuming that they are correct) there are literally hundreds of dollars that I can’t account for, because Starbucks here and there is never really Starbucks here and there. Every coffee, Jimmy Johns sandwich, tequila shot, etc., adds up to a pretty shocking number in the end.  For me, the purpose of keeping tabs on my expenses this month was solely to see how much I spend without a budget. Now that I know how much I’m spending on going out every week, I can make an accurate budget to keep me from ever spending that much again. Sure, I’ll have to switch from Martini Night to $1 Draft night, but after pre-gaming, Skol tastes the same as Grey Goose anyway.

Since for some reason 90% of the people I know here left for the weekend, I spent a good majority of Sunday cleaning out my closet. I found a hidden stash of cheesy t-shirts (The Beets Killer Tofu Tour, anybody?) and a great deal of things I forgot I even had. After a load of laundry, there are six “new” free shirts hanging next to “new” jeans, and a huge bag of stuff for the local Goodwill. Another pro: I was able to make a list of things I actually needed, like flats without holes forming around the big toe, instead of just going back to the world of shopping with some crazy bedazzled thing I’ll never wear.

I got a lot of comments from you ladies wanting to do the same challenge but didn’t think you could. Believe me, I didn’t think I could either. But it’s not as hard as it seems, promise! Just remember these few things:

1. Don’t be too hard on yourself. If you caved on a new pair of shoes, don’t throw your whole challenge away!
2. Don’t go too extreme! Cutting out all unnecessary spending (ie: anything except groceries and rent) was not an option. But leaving your debit card at home and only keeping $20 on you for nights out is definitely reasonable for anybody.
3. Wait to click “submit order.” If you really love something, wait to order it and if after a few days you’re still thinking about it, get it. The wait will ensure that you think the shirt/skirt/etc is worth the money and will fit nicely within your current wardrobe.
4. Don’t go back to your old ways as soon as it’s done. After a month though, you’ll never want to.  With all of the money you’ll save over the course of a few months you’ll be able to pay for next year’s Spring Break trip to Cabo.

Well, the easy part of my challenge is over: next comes the budgeting part. Thanks for all of your support (I was able to please my mom!) and advice. We’ll have a new lady sharing her challenge next month, but I’m definitely not done with this one yet. Wish me luck!

Can you believe it’s 2010? Where did the year go? Where did the decade go? Hell, where did my sequin jacket go? And why did I think that chasing a Jager Bomb with a bottle of Andre was a good idea? Oh lord.

Right now it’s probably hard to think about anything but a greasy breakfast sandwich, a gallon of water and how you’re going to get that rando out of your bed, but it’s the first day of the new year and you know what that means: it’s massive hangover resolution time.

This week I asked the CollegeCandy writers to share their resolutions for the new year. Most of the girls are on their own with sticking to their list, but every month we’re going to check in with a few of them on their quest for self improvement. Will they stick to their resolutions and become the best they can be? I guess we’ll have to wait and see. I’ve already ruined my personal resolution of treating my body well (I’ve got a stack of pancakes and a giant latte sitting next to me at the moment), so I just hope they fare better than me.

Arielle – Quinnipiac University: Stop going on Facebook and the internet, and read some books instead!

Nina – Michigan State University: I am going to stop watching brain-suckers like Keeping Up With the Kardashians and watch more health and knowledge related shows. Maybe.

Brithny – Duke:  To fit into my skinny jeans without having to do the after-laundry lunges. You know the ones I’m talking about.

Meg – University of Delaware: cut down my severe caffiene addiction

Anna R – Northeastern University: To finish paying off my credit card debt and save at least $1000 next semester… Somehow I’m hoping I will achieve this while doing an unpaid internship in NYC.

Kim – Stanford: To get a job in NYC and move there after graduation!

Jessica – Hofstra: Stop procrastinating, and start saving money by finding boys to buy my drinks at the bar!

Lauren – University of Michigan: To figure out the difference between need (healthy food) and want (Marc Jacobs handbags and vodka). Oh, and to stop convincing myself that my jeans from senior year of high school still fit. If I can’t breathe, they do not fit. It’s that simple.

Charlsie – Hollins University: To stop reading Perez Hilton. He spreads negativity around and I’m sick of participating in it.

Jackelyn – San Francisco State University: To go for what I want. There’s no better time than today to get things done!

Sarabeth – University of Texas: To legitimately work out this year, no more of this “walking to class counts” crap.

Noa – CU Boulder: To learn how to make Thai food. I swear I spend half of my money on Pad See Ew.

Zahra – Northwestern University: To choose one or two resolutions and stick to them! I always end up with, like, ten. I’m still not sure what the actual resolutions will be but, hey, it’s a start!

Caitlin – University of Alabama: To stop letting people take me for granted! I deserve some thanks for all of the things I do dammit.

Emmy- Loyola University Chicago: To focus on academics and own all my classes next semester.

Erica – Kent State University: To be a better friend. And to find shoes like this.

Ricki – University of Michigan: I will stop buying so much overpriced coffee and learn to make it myself. I will also not count coffee on my parents credit card as “me not paying” because I am actually just fooling myself.

What do you want to do better this year?

Clearly, Britney is still messed up in the head.

The truth about high school.

What’s gonna happen to Jon and Kate Plus 8?

We love party dresses!

Stay out of debt, people.

Wait. There’s a Scientology clothing line!?

Yeah, that jerk is usually me.

I’ve always been a cash girl – it’s efficient, it’s solid, and it’s hard to let go of. I just think credit cards make it too easy (“That’ll be $563.94” *swipe* “Thank you have a nice day!”) and that’s entirely my point. You can swipe away bucket-loads of money without realizing it. Credit cards make it so simple, it’s like you can get whatever you want and you’re not even spending real money.

However, when it comes down to forking over a twenty dollar bill to some Starbucks chick for a cup of coffee, I’m much more hesitant to get the overpriced (albeit ridiculously addictive) Venti Caramel Frap. With cash, it’s either you have it or you don’t. With credit, you always have it (or so you think).

I’ve seen many a times when my girlfriends get a little swipe happy and come home with shopping bags full of things they can’t really afford because “they can always pay it back later.” And I’m not too psyched about debit cards either – $32 overdraft fees because I went a dollar over my limit? Yeah okay.

I must admit that the only thing keeping me from shelling out hundreds at a time on online shopping is my serious lack of plastic. But I have reached a point in my life where it is almost impossible to go without a credit card and an embarrassment not to have a bank account. I’m all for hiding money in the mattress (uh… I mean not hiding it in my mattress- great, now the thieves will know where to look) but it simply isn’t practical anymore. I get it, I need to start building my credit. No bank = no credit = no interest = no security. So yes, I have resorted to getting myself some plastic.

But honestly, I’m worried about swiping myself to debt (ha!). Any advice? Anyone in the same boat?
Paper or plastic?

In reality, I’d love to take my refund check and spend it in one go at the mall, especially since warm weather means I have to chuck my so-worn-they-belong-in-the-What-Not-to-Wear-dumpster sweater boots, and I don’t have ANY cute flip flops to wear in their place.  But, since I’ve been struggling all winter, I am going to use this money wisely.  And by use “wisely,” I don’t necessarily mean put it back into the bank.  We all deserve to splurge every now and then, and here are some of the best guilty pleasures your tax refund can buy.

1.  Upgrade your phone.

Am I the only campus coed who has never known the joys of an iPhone or Blackberry?  I recently lost my cell in a drunken stupor, and, though I had been waiting for the summer to upgrade, I figured it’s now or never.  Best buy of my life.  I got a refurbished 16-gig iPhone for under $250.  And it’s not just a phone– I can check the weather without getting out of bed or waiting for Weather.com to load on my slow-ass computer, I can check my email for last minute class cancellations while on my way to a lecture, and once I figure out these apps, I’m pretty sure I can load a calorie counter onto my phone to use in the dining hall.  How did I live without this baby?

2.  Buy a new wardrobe.

I don’t mean a new Juicy Couture bikini or strappy Jessica Simpson open-toed heels, but if you’ve got some extra cash coming your way, it’s not a bad idea to spend on some new work attire.  When you’re strapped for cash, it’s hard to shell out on a business suit for an interview you haven’t scheduled yet, but when you get a check for a few hundo in the mail, there’s no time like the present to invest.  That sleek blazer might land you the job interview, and that knee-length pencil skirt will make a great first impression when you start your new job.  Which of course will lead to earning more money, which you can then spend however you see fit.

3.  Embark on a summer journey.

Note that I did not say summer vacay. I’m not writing off putting this moolah towards a cruise–you totally deserve it– but there are other ways to travel this summer.  Use your tax refund to see the world while you build your resume by signing up for a summer abroad course or a volunteer program.  Spending the whole summer abroad will probably still cost a lot of money, but look into a week long intensive program in Europe, or check out programs like Habitat for Humanity or Teach for America.  Usually, these volunteer programs will house you, but you’ll have to foot the travel expenses.  If you can afford to get there, you’ll be rewarded with new friends, memories that last a lifetime, and an fabulous bullet on your resume.

4.  Get active.

Get physically active, socially active, or mentally active, and watch a relatively small investment go a long way.  Get private lessons in an area that you’ve always wanted to excel in, such as art lessons or vocal lessons.  Try out a personal trainer for a month, or get a year-long gym membership.  Buy a set of instructional yoga videos.  Doing something for yourself doesn’t mean you need to feel guilty later.  If you splurge on something you couldn’t otherwise afford, but it reaps a positive outcome, it can create a domino effect in your life.  By losing a few pounds (without really trying), you may double your wardrobe if you’ve kept some of last year’s suddenly-too-small jeans.  By de-stressing, you could add years to your life.  By getting better at something you could add to your appeal in the career field.  Spoil yourself now, and you’ll be doubly rewarded.

5. Eat gourmet.

Don’t go to Chez Expensif and order a $100 entree, but treat yourself to more from the grocery store than just store brand Mac n Cheese and cans of tuna.  Buy the ingredients to try that recipe your grandma passed down– that from-scratch casserole that calls for a pinch of this and a dash of that, stuff you have to buy a whole bottle of because you don’t carry ‘this’ and ‘that’ on the regular.  Buy fresh or organic products that usually make you salivate but that are never on sale.  You shouldn’t have to put a price on eating healthy, but when fresh fruit costs several bucks a pound, it’s easy to veer towards the greasy Dollar Menu when you’re paying with the change you just found in your couch cushions.

These are just a few examples of how spoiling yourself can come with advantages– and why it’s okay to blow through your tax refund.  Of course, depending on your financial situation, you may be opting to pay off your credit card bill, send in your rent check on time, or simply stash the cash in your savings account.  We do all deserve a break from time to time, however, so I hope however you’re spending your extra cash, it makes you happy.  So… what ARE you going to buy with the dough the IRS coughs up to you this spring?

You’re so busy with classes (and a rockin’ social life), you can’t seem to get ahead in the finance field.  Sure, summer might be a great time to soak up some sun for those college students who are lucky enough NOT to be struggling with student loans, car payments, credit card bills, etc.  But for a large majority of us, summer is the time to keep working our asses off… and get paid.

If you’re stressing about debt, never fear– summer is just around the corner.  And if you act now, chances are, you can secure a summer job so you’ll be ready to pay for books, bar tabs, and fall semester housing come August.  The question is, where should you look?

1.  Your former part-time high school job.

If you’re going home for the summer, the good news is, you’ll be close to the company you’ve worked at since you were 16.  Sure, it might not be the most glam way to spend the summer months, but desperate times call for desperate measures.  Maybe you were counting down the days until you could quit pre-college, but you’ve had some time off, and a few more months might not kill you.

Did you quit because you had to leave for college? Guess what- they probably had a whole rush of high school seniors do the same.  It doesn’t hurt to contact your old boss and ask if any shifts are available for the summer.  They’re inclined to say “yes” because they won’t have to pay to train you, and you can start at your old salary- or higher- without having to go through minimum-wage training.

2.  Tourist traps.

Plenty of places that are in summer vacay hot spots only hire for the summer, so you’re more apt to get hired here than a place that’s looking for a long term commitment and are put off by your May-August availability.  Beachside resorts and restaurants, cruise lines, and theme parks are all about hiring for the summer, and many of them will pay for housing because most of their employees are summer temps.  Bonus? You’ll be working with other college students on a summer hiatus- think the underground party that Baby crashes in Dirty Dancing or Lea Remini’s breakthrough role as Stacy in Saved by the Bell.

3.  Summer Camp

Obviously, they only hire for the summer, and college students have an advantage here.  Whatever your skills are, in this day and age, there’s a camp for just that.  Nutrition major? Try “fat camp” (or whatever the PC term is for that these days). Starving actor? Theater camp’s the way to go.  Sports freak? Basketball camp.  Total nerd? Try programs like math camp or youth science camp (I once participated in a program called KAST- Kids Are Scientists Too! Yes, the exclamation point was part of the title, and I learned how make ice cream in a plastic bag there – don’t ask questions).  Even if you don’t have a specialization yet, you may be able to apply as a general camp counselor, and you won’t have to worry about breaking a contract at the end of the season.

4.  Summer Stock.

For all of you liberal and fine arts majors, check it out!  Summer Stock is the best part of the year for many regional theater companies, but you don’t have to be an actor to appreciate it.  Theaters may be looking to fill their Summerstock positions with assistants in marketing, finance, production (read: carpentry), education, or management.  If you have  love for the arts, you’ll have a decent chance of getting an interview. And Summerstock participants are totally prone to partying.

5.  Paid internships.

This is a great time to do an internship, gain experience, and potentially make some cash.  It’s great for your resume, so it’s a good idea to look into companies close to where you’ll be staying this summer, as well as gigs that might be beneficial to list on your resume in the future.  You might not make as much money as you would waiting tables at Jimmy’s Crab Shack all summer, but it’s something.

6.  The internet.

Who knows what other companies are hiring?  Check out summerjobs.com, snagajob.com, coolworks.com, and, of course, craigslist.  Just see what comes up.  Your bank account, your credit report, and your parents will thank you when you can make timely payments next fall without asking for help.

It’s easy to throw down your MasterCard and forget about how much your text books cost for the semester; it’s just as simple to open a tab at Happy Hour and let the Bud Light flow.  We all eventually realize, however, that college flies by in the blink of an eye, and before you know it, you’ll be on your own.

With the economy in peril, now is an especially good time to start keeping an eye on your credit score so you don’t find yourself denied when you try to open new bank accounts, get a new apartment, condo, or house, or reward yourself for landing your dream job by buying your first brand new car.  Maintaining a good credit score doesn’t have to be harder than next Tuesday’s cumulative Calc exam, though– here are five simple steps to stay on top of your financial game.

1.  Get a credit card.

This might seem like a no-brainer, but I know a lot of people who are adamantly opposed to credit cards.  How they live without them, I don’t know. Personally, I am always prepared to whip one out in case of an emergency (like when my gas tank is below empty and I try my luck at the commuter lot at school).  Hey, if you can get by without a credit card, you win my admiration, but you can’t build credit if you never have any to begin with.  Get a credit card, and charge a couple small things each month- paying your bill in its entirety will show how well you handle your money.

2.  Put your name on the bills.

It’s a luxury to have parents who help you out in college.  However, if the ‘rents pay your cell phone bill, sign for your campus housing, or let you drive their car around for four years of higher education, you won’t have very strong credit references when it’s time to get out on your own.  Many apartment complexes want to see that you’ve been a good, rent-paying tenant in the past, for example.  If you only have your parents’ credit to go by, they might have to co-sign for you as gauranteurs, which still doesn’t necessarily prove how responsible you are when it comes to managing bills and paying off debts.  Even if you start small, like keeping a cell phone plan in your name, you’ll be off to a good start.

3.  Pay what you can..and pay on time.

Not paying your CC bill will result in a hefty fine, as will paying your rent or other bills by the due date.  If you find yourself struggling at the end of the month, prioritize your debts.  Pay the car payment in its entirety, and send American Express the $20 minimum payment.  Don’t squeak by with small payments every month, though – as far as credit cards go, your score is measured in a ratio of debt vs. available funds.  Paying the min will result in a finance charge, which could make your balance stagnant (providing you aren’t spending more each month).  So if your credit card limit is $5,000, and your balance has been a steady $4,500 for the past few months, your score will take a hit.

4.  Keep old accounts open.

Remember the time you signed up for a card because you wanted a free T-shirt, and then realized you didn’t need a third credit card? Keeping that account open will actually look good on your credit report.  If you don’t have to pay a fee to keep it, it won’t hurt anyway.  However, if you continually max out your cards, transfer your funds to a new card, and close the first account, your spending will look sporadic and unorganized.  Really, you can avoid this altogether by finding one or two really good credit card deals that you can use for years, but if you’ve paid off your debts on one card and really want the Delta Skymiles Platinum so you can earn enough rewards to fly to Hawaii this summer, there’s no reason to reach for the scissors just yet.

5. Keep an eye on your credit score.

This way, there won’t be any surprises.  If you see your score start to slip, you’ll be aware and can re-anaylze your spending and try to get those numbers back into good standing.  You’ll also be able to monitor your activity and prevent fraud, identity theft, or unwarranted charges.  Check out FreeCreditReport.com or speak to a financial expert to figure out where you stand right now.

Getting into these simple habits won’t just help you establish a good credit report while you’re still young, but you’ll start to develop healthier spending habits to keep your credit shining as you begin your real adult life of mortgages, car payments, and starting a family. Really, these things should come naturally, but are overlooked by millions of people, young and old, across the country.

And hey, it’s quicker than checking a Facebook minifeed, so what are you waiting for? Fill out your first credit card application, check your payment due dates, and try to get an idea of where you stand in the realm of debt and credit.

College is expensive. Really, really expensive. Even with scholarships and financial aid, most of us are left wondering how we are going to pull this off.

Of course, there are several ways to approach the issue:

1. We could go to Mom and Dad (assuming they could help in the first place, or that you want them to – this is a slippery slope to giving them more influence over our futures than some of us our comfortable with)

2. We could take out a loan (but that means lots of scary paper work, co-signers, and debt)

3. We could sell our virginity

3. We try out the newest trend: human capital contracts.

In my opinion the name sounds a lot scarier than it really is. It might just be me, but the words “human” and “contract” ooze creepiness and give me visions of living as a sex slave for the rest of my life. Fortunately for me, thats not the case here.

Human capital contracts are the newest resource in paying for higher education. Basically, investors (companies) would agree to pay for your education in return for a percentage of your future income over a fixed period of time which is scaled to your wages. Unlike loans, you are essentially using your education as collateral, betting on yourself and your abilities. Meaning the more you earn, the more the investor will take. The flip side being, the less you make, the less they are entitled to.

Of course, anything dealing with finance and debt and signatures makes me hyperventilate, so naturally I had some questions. The most important ones being, “What do I stand to gain?” “Why are investors interested in my education?” And, of course, “Will I end up chained to a radiator in the basement if I don’t get a job?”

Here’s what I found:

Human capital contracts are set up as a potential win-win for investors and students. The risk is transferred from students to investors but still draws investors in because they could potentially gain more than they would on a traditional loan (which earn investors money through interest charges). This idea could potentially open the market up, as it is no secret that in today’s economy loans are limited due to rising costs and government funding is rapidly being withdrawn. But with this new alternative more kids could finish college and become productive members of society.

Unsurprisingly, with any good idea there are some drawbacks. These drawbacks mostly surround investors, but students should be aware of what they are getting into as well.  The biggest issue right now seems to be getting students who are potentially interested in higher paying jobs (doctors, lawyers, future millionaires etc.), to balance out lower income jobs (starving artists, writers, non-profits, and, um, me) because these are the students who will earn investors money. Admittedly, I was wrong with my whole sex slave theory, but critics are saying that this agreement resembles a form of indentured servitude because you are in some ways owning a piece of someone else… but the same could be said about traditional loan arrangements, right?

What do you think? Would you be interested in human capital contracts to pay for school?

Free stuff and a new credit card? Hell yes! What’s the harm, right?

How about serious credit card debt (an average of $2,623 for college seniors nationwide)? Or serious credit issues – the kind that got us into this whole recession mess in the first place – after graduation?

We all know that credit card companies target college students because we don’t know how to handle our money, but it seems they aren’t the only ones profiting. According to the New York Times, our very own universities are selling our information to those guys! Instead of protecting us and our futures, our schools are handing us over to the sharks and promoting our potential to incur serious debt.

Shouldn’t universities – places of learning – teach us how to manage money instead of profiting from our lack of experience? Doesn’t working with credit card companies go against the role of a university in the first place?

What do you think?

[Photo courtesy of NYTimes.com]