In this issue:
- Introduction
- Survey time!
- Scholarship Updates
- Featured article: Gas saving tips 2006
- A Word from our Sponsors
- Privacy and Subscription Information
- Back Issues
- Sponsor this newsletter!
May has rolled around, and for many, that means graduation (and loan consolidation at www.StudentLoanConsolidator.com) along with summer jobs, summer semesters, and more. This month we'll also talk a lot about gas prices spiraling upwards, and how you can save money at the pump. Enjoy this month's newsletter, forward it to your friends, and let others know how to save more money!
Christopher S. Penn
Publisher, The Student Financial Aid News
Producer/Director, The Financial Aid Podcast
A Publication of the Student Loan Network
1250 Hancock Street, Suite 703N
Quincy, MA 02169
Featured Sponsor: Student Loan Services!
Stafford loans are the first loans to turn to when you need a student loan. The federal Stafford loan offers flexible repayment terms, low interest rates, and an easy application process. Loans can be applied for at any time of year, so if you just received your Student Aid Report or financial aid award letter, apply now to beat the rush. Visit:
- http://www.StaffordLoan.com - for federal Stafford loans
- http://www.ParentPLUSLoan.com - for PLUS loans for parents
- http://www.AlternativeStudentLoan.com - private student loans, no FAFSA
- http://www.GradLoans.com - graduate, law, and medical students
- http://www.StudentLoanConsolidator.com - make your loans affordable after graduation
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We're always looking to improve our newsletter and make it better and better. Please take a few moments to fill out this survey, and you could win either a $15 iTunes gift card or a $15 gas card.
http://www.FinancialAidNews.com/show.php/may2006survey
Another big month for our scholarships web site, www.StudentScholarshipSearch.com - now with over $654 million in scholarships! Here's a selection of awards added in the last month.
National Marbles Tournament Scholarship
http://www.studentscholarshipsearch.com/New/2006-03-31.php
The Collegiate Inventors Competition
http://www.studentscholarshipsearch.com/New/2006-04-04.php
Patrick Kerr Skateboard Scholarship
http://www.studentscholarshipsearch.com/New/2006-04-11.php
Remember, you can get daily scholarship updates by listening to the Financial Aid Podcast and visiting the Student Scholarship Search web site!
International students can find resources at:
Featured Article: Saving on the Price of Gasoline and Improving your Gas Mileage
Gas prices have nearly crossed the $3/gallon threshold again and are likely to continue rising for the near future. Some economists point to $5/gallon before summer's end - again. Unlike taxes and credit card payments, fuel costs are difficult to budget for due to the unpredictability of the market, but lately it seems the only prediction you've needed is this: gas is going up. The reasons why are complicated, involving a few different factors:
- Oil consumption in the US and overseas has increased, especially in China
- The world supply of oil has not increased
- Refinery capacity in the US has not increased appreciably in the last 25 years and last summer's hurricanes did nothing good for our system
- Political conditions point to increased tensions with nations that control access to oil
- New additives in fuel make it harder to distribute
- Some pundits believe that energy companies are willfully manipulating the market for maximum profit
No matter what the reason, here at FinancialAidNews.com, we're committed to helping you save money. To figure out how to save more money at the pump, first you need to know how much you're spending.
Here's a simple equation. Determine the gas mileage of your car currently by dividing the miles you drive between fillups by the amount you spend at the gas station. For example, I recently drove 264 miles and used 8 gallons of gas, yielding 33 miles per gallon. Divide this by the cost of gasoline - as of recently it's $2.95 in metro Boston - and I can determine that every mile I drive costs me about 11 cents.
What can extra miles per gallon do for your budget? If you drive 50 miles a day to work and back on a 20 mpg car, your average trip to work costs $7.38 (at $2.95/gallon). If you can up your mpg to 33 mpg, the same trip will cost you $4.47. If you can optimize to 35 mpg, that 50 miles will only cost $4.21. You'll save $3.16/day, which doesn't sound like much until you realize that it works out to nearly $821.79 per year. As gas prices shoot up, the more you can optimize, the more you'll save.
Gas Saving Maintenance
1. Inflate your tire to the tire manufacturer's recommended safe maximum pressure. Tire inflation is the number one sap on gas mileage - a softer tire yields a smoother ride at the cost of more fuel needed. Most car manufacturers recommend that you inflate your tires to only about 60% of the tire's safe capacity. Check with your dealer / service department to see if you can inflate higher. I inflated my Hyundai Elantra's tires from 30 psi to 38 psi (well under the 44 psi that my tires list as a safe max) and my gas mileage shot from 27 mpg to about 32 mpg.
2. Check your air pressure weekly! Consider buying a simple tire pressure gauge and checking your tires weekly - keeping the tires inflated to the safe maximum will help you continue saving!
3. Keep your car tuned up. Regular oil changes and air filter cleanings / changes can add an additional mile or two per gallon. Consider the use of synthetic oils, which last longer before breaking down. The longer they last, the more mileage you can squeeze out of your car. Learn how to clean out your air filter with a can of compressed air, and save yourself a few bucks at the dealership.
Gas Saving Purchasing Tactics
1. Buy your gas just before sunrise. Gasoline is a funny substance - it rapidly expands with heat. Gas pumps measure volume of gas pumped but not density - the gallon of gas you buy at 5 PM will have less gas in it than the gallon you buy at 5 AM. Fuel up at the coldest part of the day - just before daybreak - if you can.
2. Shop around. Consider frequenting web sites such as GasPriceWatch.com, BostonGasPrices.com, and others. Why pay more if you don't have to?
3. Look for gas sales. Some stations offer "Super Sunday" or other specials on certain days of the week. Keep them in mind and try to time your schedule to take advantage of the sales if they make the best financial sense.
Gas Saving Driving Tactics
1. Drive more conservatively. I know, speaking as a Boston driver, that it's sometimes hard to do, but consider driving a little more conservatively, especially on acceleration. The longer your car takes to get up to speed, the less fuel it consumes overall, because internal combustion engines are relatively inefficient, and a fast acceleration consumes more fuel per RPM generated than a relatively slower start.
2. Drive more consistently. Keep your speed as consistent as possible during driving - cruise control will help boost your overall gas savings!
3. Combine chores and trips. Start to organize your daily chores and errands so that you drive less overall - combine picking up groceries with the commute to or from work, take care of several things at once.
There are a lot more free gas saving tips on our web site - check them out today!
http://www.financialaidnews.com/gastips.php
And now a word from our sponsors...
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