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FlyingDutchman

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  • Application Season
    2013 Spring

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  1. Awesome that you are interested in investing some of your savings, however, I seriously question the logic you are utilizing here. A word of caution: the returns of the stock market over the past five years have been great but historically abnormal. The market is rebounding from its latest correction and recession in '08, making the returns seem unusually high. You can typically count on an average return of 6-7% per year over a very long time frame (10+ years). In other words, it is unlikely the market will continue to return 20% per year. Even your "conservative 10%" would be considered by many to be a very lucrative year. Conservative is more like 2-3%. You also should be ready to assume the risk that the returns could go in the exact opposite direction, such as in 2008, when the S&P 500 lost roughly 40% of its value. All this to say: I would highly recommend you do not invest money that has been loaned to you! What would happen if the market underwent a major correction? You'd lose the money loaned to you and be in a major hole trying to pay that money back at interest. A correction is not unlikely with the way the market has been growing over the past few years. Don't forget stocks are highly volatile and risky ways to invest money. You should really only be investing in a stock index fund if you can keep that money in the market for at least 10 years. That allows you to ride the ups and downs of the market. But for short-term use, it's a bad idea! Especially with money coming from a loan!! I think the smartest move would be to put that loan in an online savings account. Some of the best ones (Ally, Barclays) can give you a yield of .75-.9% per year.
  2. I'd echo what's already been shared: I'd try to avoid going into debt for a master's degree! There are ways to minimize the debt, however. If you are lucky, you might have a family member or two willing to loan you some money at low to no interest. I had a friend do this, and it worked out well for him for his two year master's degree. I'd also recommend looking very closely at in-state state universities where you are likely to pay less tuition.
  3. I'd be interested to learn the average salary for a university administrator as opposed to the average salary for an assistant professor. I'm guessing it's a much more lucrative career path. Anyone have any concrete info on this?
  4. Usually the "side-project" is some form of research project, service-learning, or volunteer project. You want to essentially show that you have some ideas of how to be engaged with your local community outside of your teaching. The best ideas seem to usually flow from your own personal interests and hobbies. Hope this helps!
  5. 1. Professional lawn mower (for a major league ball park) 2. Storm chaser 3. Fine woodworker 4. Tenure track professor
  6. Try to put to the side rankings and qualifications. Focus on the quality of the faculty, how accessible they are, their commitment to teaching and their students. I'd also say focus on the type of students that end up in each program. You could be in a highly-ranked prestigious program with highly competitive peers and be miserable. Also, it depends on whether you are going for an MA or a PhD. I'd encourage you to really try and find a program that provides some funding at least.
  7. That's a tough question. I imagine most companies would wonder about how much time you could devote to their various initiatives and whether your dissertation would distract you from giving them your full attention. Those are issues you might want to specifically address in your cover letter. How far along are you in your degree program? If you are ABD, you might be able to have an easier go at it with a part-time job. I do admire your desire to earn some extra income on the side and hope you can find a suitable outcome.
  8. Being a graduate student is a great opportunity to train and flex your frugality muscles. Several great ideas have already been shared here in this thread: find a roommate for housing, get good nutrition through cooking at home, ride a bike, cut down on utilities usage. The thing about frugality, I think, is that once you get a frugal streak going, it becomes pretty exciting to follow through on it.
  9. For me, the smaller the screen, the better. I currently use a Google Chromebook. I will admit that its small screen size sometimes makes it difficult to have two windows open at once. In this case, a 13" screen size is preferable. But overall, I value having a light and portable laptop above all else.
  10. I head to the grocery store once every week and average about $30 / week. Things that help: I'm a vegetarian. I buy bulk grains (rice, quinoa, lentils, and couscous) that serve as a foundation for a lot of meals. I try to maximize on weekly sales in the produce aisles. Some weeks I will end up spending more like $40.
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