2015 MATC Scholars Program: Dr. Luis Vázquez

MATC Author

11/14/2017 Added

5 Plays

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Understanding Funding and Budgeting Finances

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[00:00:00.667](group chatter)
[00:00:11.237]This is called the Kagan Method,
[00:00:12.642]we do wanna have it nice and quiet
[00:00:14.328]so you don't wanna use your voice, you raise your hand.
[00:00:16.617]Sooner or later, the audience gets quiet
[00:00:18.742]and they either do what you're doing,
[00:00:21.200]or they just get quiet on their own and watch
[00:00:23.567]without me ever using my voice to get the room quiet.
[00:00:25.915]I've done it with 300 people in the room
[00:00:28.621]and within two minutes, the whole room becomes quiet.
[00:00:31.413]It's happened every time.
[00:00:34.355]I'm Dr. Luis Vazquez, I'm a psychologist,
[00:00:36.312]I'm not an engineer, so my doctorate's in psychology
[00:00:39.902]from the University of Iowa.
[00:00:41.662]I currently work as the Associate Vice President
[00:00:43.513]for Research at New Mexico State University.
[00:00:46.157]Today, I'm gonna talk to you about budgeting,
[00:00:48.221]understanding funding and budgeting finances.
[00:00:50.773]I wanna make sure that when you graduate from college
[00:00:53.563]you are not in not in debt into the afterlife.
[00:00:56.571](group laughter)
[00:00:58.194]I know people that have bought cars
[00:01:00.234]that are still trying to pay for them
[00:01:01.720]and the car is eight years old
[00:01:03.253]and they're still paying for it.
[00:01:04.866]So by the time you pay off the car, guess what it's worth.
[00:01:08.209](group mumbles)
[00:01:09.904]Pure nothing, one tenth of what you bought it for,
[00:01:11.831]if you're lucky.
[00:01:13.046]But your education, whether it be graduate or undergraduate,
[00:01:16.068]when you pay for that, guess what?
[00:01:18.401]It lasts for the rest of your life.
[00:01:22.047]So you can't make a better investment
[00:01:24.043]than in your education and that's what I'm talking about.
[00:01:26.743]Being able to invest in your education
[00:01:29.639]and make sure you're successful
[00:01:31.250]and make sure that when you graduate,
[00:01:33.607]you don't have to mortgage off your house,
[00:01:35.990]you don't have to go bankrupt,
[00:01:38.022]you can actually build a comfortable life,
[00:01:40.319]and yet be able to afford it and put food on the table.
[00:01:43.098]Won't it be nice, wouldn't that be nice.
[00:01:45.400]I have friends of mine that had to declare bankruptcy
[00:01:47.533]because they borrowed too much in college.
[00:01:49.181]I'm gonna show you how to avoid that.
[00:01:50.650]So, you ready to go on this trip with me?
[00:01:51.483](group mumbles affirmatively)
[00:01:52.316]Okay, here we go.
[00:01:54.478]Okay, we're gonna learn about...
[00:01:55.765]I'm gonna present to you some funny sources,
[00:01:58.754]budgeting basics, strategies for maintaining
[00:02:01.551]and increasing funding opportunities.
[00:02:05.276]So this is what you're gonna learn.
[00:02:07.462]You will know what funding sources are available,
[00:02:09.749]students will know strategies for managing your funds.
[00:02:12.013]How many of you are already good managers?
[00:02:14.119]How many of you have never gone wrong on your account?
[00:02:17.439]On your checks?
[00:02:19.229]How many of you even use checks anymore?
[00:02:21.769]How many of you have gone overdrawn through your phone
[00:02:24.752]because you keep using your phone?
[00:02:26.961]Hands up...
[00:02:27.794]Okay, you have overdrawn, I've got two or three in here.
[00:02:30.006]Okay, how many of you all are broke?
[00:02:32.427]Okay, all of your hands should've gone up!
[00:02:33.985](group laughs)
[00:02:37.153]Very good, okay, I'm gonna try to help you not to get there
[00:02:39.968]and you will know how to work
[00:02:41.837]as this path leads to support research.
[00:02:44.594]Why it's important, you wanna reduce your student loan debt.
[00:02:47.798]The ratio should be very very low.
[00:02:50.386]You shouldn't have a higher loan that's worth more
[00:02:53.689]than all your degrees put together in such a way.
[00:02:56.115]I know people that are in debt
[00:02:57.520]for over 150 to 200 thousand dollars.
[00:02:59.854]Guess the people who don't usually pay their loans back.
[00:03:03.116]Guess who's most deficient in paying.
[00:03:06.133]You'll never guess.
[00:03:07.803]Lawyers and medical doctors,
[00:03:10.727]and they're the ones who make the most.
[00:03:15.194]Those of you in the less giving fields of money
[00:03:20.887]are always trying to pay your loans
[00:03:23.360]but not in the other two fields, isn't that fascinating?
[00:03:26.875]Limited ability to get loans.
[00:03:28.767]Now loans are becoming more and more scarce
[00:03:30.875]on how to get your loans, unless you're gonna go
[00:03:33.442]to private loaners, they'll give it to you.
[00:03:36.716]Sometimes you're gonna pay anywhere from 10%
[00:03:39.681]all the way up to 27%.
[00:03:41.747]How many of you have credit cards?
[00:03:43.486]Your average credit card at your age level
[00:03:45.457]is about 27% for a premium interest rate,
[00:03:48.302]so when you borrow like $1,000
[00:03:50.986]you're paying $27 on the compound interest.
[00:03:53.818]You know what that means?
[00:03:55.109]That if you borrow $1,000, if you use your card
[00:03:57.107]for $1,000 and you're making the minimum payment
[00:04:00.901]of $15 a month, guess how long it takes you
[00:04:03.395]to pay off that $1,000.
[00:04:08.491]Cause the interest is 27%, it's gonna take you
[00:04:11.121]close to three years,
[00:04:13.091]and that's if you never put anything else on that card.
[00:04:17.386]Can you imagine, for $1,000?
[00:04:21.326]Funding that's prestigious and looks good.
[00:04:23.138]Funding through grants and scholarship, that looks good.
[00:04:25.924]It's an honor to your resume and you're coming in
[00:04:28.316]they go, "Wow research grant, wow scholarship,
[00:04:32.171]man this dude has something!
[00:04:34.905]People invested in him, people thought
[00:04:37.302]that he had the potential to do what he needed to do
[00:04:39.515]and they funded him!"
[00:04:42.293]Connection to faculty, if you get to work with faculty
[00:04:44.462]on different research projects,
[00:04:46.471]you get funded, you get that paycheck each month
[00:04:48.570]and you realize, "Wow, I can go to Mcdonalds!"
[00:04:51.468]I'm just kidding man, I'm just kidding.
[00:04:53.769](group giggles)
[00:04:54.777]I'm a Popeye's man myself.
[00:04:56.484](group giggles)
[00:04:58.061]And Churches, and KFC, those are my favorites,
[00:05:00.626]so, and I have to watch myself at my age
[00:05:03.517]'cause that accumulates quickly.
[00:05:05.840]Connection to faculty advisee and project engagement.
[00:05:08.464]You get to work on projects that some of the students here
[00:05:10.868]at UNM have been able during the summer
[00:05:12.895]to go to places like Italy and Spain
[00:05:15.234]to work on bridges and do something there,
[00:05:16.642]can you imagine?
[00:05:18.156]Would your parents have ever gone to some of those places?
[00:05:20.209]How many of you have parents that travel
[00:05:21.892]all over the world?
[00:05:24.272]Wow, just like mine, mine didn't go anywhere either.
[00:05:26.490](group laughs)
[00:05:28.324]Okay, let me show you what the debt looks like,
[00:05:30.994]are you ready?
[00:05:32.591]In 2004, 90% of the students...
[00:05:36.242]And this is, the graduate student debt review.
[00:05:39.523]In general, at the 90th percentile,
[00:05:42.484]do you know what that means?
[00:05:44.067]10% of the students had an average debt in 2004,
[00:05:47.385]only 10% of them, above $118,442.
[00:05:51.415]This is in 2004.
[00:05:54.689]75th percentile, which means one in four students
[00:05:58.033]had a debt of $70,907 by the time
[00:06:02.436]they graduated form college, that means
[00:06:04.498]from graduate school and everything together.
[00:06:06.373]And the median, which means about the middle,
[00:06:08.685]about almost $40,209 that they owed, this is 2004.
[00:06:16.009]So let's jump up to 2012.
[00:06:18.416]90th percentile, which means one out of every ten students
[00:06:20.838]had a debt of about $153,000.
[00:06:26.938]For some of us, our parents houses cost less than that.
[00:06:32.833]One in four students had an average loan
[00:06:36.563]of overall debt of $99,614, that's 2012.
[00:06:42.461]In the median, about the middle, $57,600.
[00:06:46.236]So as you can see, it went up.
[00:06:47.698]It was ten to 15 thousand, and for some reason
[00:06:50.355]in 2008, the debt went down, why?
[00:06:52.653]Why do you think it went down?
[00:06:54.824]Because of the economic crash?
[00:06:56.169]Yeah, 'cause we had the economic crash.
[00:06:58.059]Nobody wanted that money, nobody didn't do anything,
[00:07:00.154]nobody tried to figure out how to pay off our bills,
[00:07:02.092]a lot of people had to foreclose on their homes,
[00:07:04.178]that was the best time for buyers if you had money,
[00:07:06.251]the worst time for sellers, because nobody had money to buy.
[00:07:11.032]So if you had some money, you could get amazing deals
[00:07:13.575]on houses, cars and everything back then.
[00:07:16.181]So, student loan is first, let's take a look here.
[00:07:19.473]Graduate plus loan, about 7% of the students
[00:07:23.775]get graduate plus loans, that's for graduate school.
[00:07:26.426]You know what that is?
[00:07:27.991]Graduate plus is when you borrow from the feds
[00:07:30.279]but your interest begins to accrue
[00:07:33.180]like the day that you get the loan,
[00:07:35.297]your interest accrues and it gets added onto your loans
[00:07:38.466]so by the time you graduate, six months after you graduate
[00:07:40.394]you have to start paying back the loans
[00:07:42.086]and you have to start paying back interest
[00:07:44.980]and everything else with it.
[00:07:47.220]Undergraduate subsidized Stafford Loans, Stafford Loans?
[00:07:49.496]Stafford loans are from the government, okay,
[00:07:53.420]and when they say subsidized,
[00:07:55.090]that means that the government will pay your interest
[00:07:57.008]while you're still in school,
[00:07:58.503]either half time or full time.
[00:08:00.067]That's what subsidized means,
[00:08:01.605]they're gonna pay your interest for you,
[00:08:03.471]however, as soon as you graduate
[00:08:05.320]or if your grade point drops
[00:08:08.206]and you get kicked out of school
[00:08:09.788]or you decide to quit, within six months of that time
[00:08:12.191]that you decide to quit or drop out out
[00:08:14.887]or don't make the grades, you have to start
[00:08:18.250]paying back the loans.
[00:08:20.153]Then whatever interest starts at that point,
[00:08:22.013]you start paying the interest of the loan.
[00:08:24.162]That's the Stafford Loan.
[00:08:26.214]Okay, there is the undergraduate Stafford,
[00:08:27.879]that's the unsubsidized, graduate Stafford, the same thing.
[00:08:32.137]As long as you're in school and you go half-time or more,
[00:08:34.287]guess what, you don't have to pay back the loan
[00:08:37.573]until after you graduate.
[00:08:39.439]The good things about some of those loans
[00:08:41.503]is that in some instances you're gonna be working,
[00:08:45.608]like for instance if I was gonna be
[00:08:47.601]a psychologist in a poor area or a teacher in a poor area,
[00:08:50.002]medical doctor in a poor area, an engineer working
[00:08:52.938]and doing an impoverished area, something.
[00:08:56.157]The first year, you'll pay like 15% the first year,
[00:08:58.597]the second year 15%, the third year is 20%
[00:09:03.638]and the fourth year 20 and the fifth year almost 30%,
[00:09:09.684]which means that you'll have 50% of your loan gets paid off
[00:09:11.839]by working in an impoverished area.
[00:09:14.479]Of course, you're gonna make a lot less money
[00:09:16.361]with your degree in those areas,
[00:09:18.392]but half of your loan gets paid off
[00:09:20.235]by the government for you if you work in those areas.
[00:09:24.921]And then you've got parent plus, I always tell parents
[00:09:26.783]"Don't do that," you know what parent plus means?
[00:09:29.601]Your mom and dad are gonna co-sign for you,
[00:09:31.729]and guess what happens when they take out the loan?
[00:09:34.550]As soon as they take out the loan,
[00:09:35.876]your parents have to start making payments on it
[00:09:37.902]while you're still in school, they still
[00:09:39.436]they have to start making payments on it
[00:09:41.547]and pay the interest right away.
[00:09:43.312]What do you think?
[00:09:44.777]How many of you have such wonderful parents
[00:09:46.810]that they're gonna pay your loans?
[00:09:49.418]One.
[00:09:50.418](class laughs)
[00:09:53.414]It's not that your parents aren't wonderful,
[00:09:54.902]the rest of you, they may not be able to afford it, okay?
[00:09:59.196]Overall debt by million...
[00:10:00.936]By the way, this year alone, for the first time
[00:10:03.418]in the United States,
[00:10:05.130]we have over one trillion dollars total
[00:10:06.997]in student loan debts across this country.
[00:10:08.985]One trillion, can you imagine?
[00:10:11.818]So, private loans, okay.
[00:10:15.452]About 1.1 billion dollars.
[00:10:19.557]By the way, and the private loans,
[00:10:21.310]are loans that you take on your own from your bank
[00:10:23.261]and guess what, as soon as you take it out, what happens?
[00:10:26.048]You gotta start paying it back.
[00:10:27.731]You gotta start paying it back.
[00:10:29.163]The banks aren't gonna say, "Well we're gonna wait
[00:10:30.902]til you graduate in four or five years
[00:10:32.867]and then we'll check you out to see how you're doing."
[00:10:35.630]Not on their private loans, they'll come after you.
[00:10:38.285]They can get to a bill collector
[00:10:39.781]and then the bill collector starts calling you
[00:10:41.562]so you change the number, and somehow
[00:10:43.211]they always find you, you know,
[00:10:44.684]and then they show up at your house
[00:10:46.561]and they can't find you at your house
[00:10:47.934]so they show up to your parents house,
[00:10:49.360]they can't find you there so they go
[00:10:50.973]to your brother's and sister's house,
[00:10:52.473]but they don't quit, they keep looking for you.
[00:10:54.798]State institution loans, you know,
[00:10:56.644]these are the loans that are within house,
[00:10:59.117]about 0.25%, other federal loans 0.09%.
[00:11:03.482]Federal grad plus, grad plus loans are
[00:11:05.583]you're paying the interest, okay
[00:11:08.393]cause the interest starts the day you take out the loan,
[00:11:10.560]you have to pay the interest
[00:11:12.130]while you're still in graduate school
[00:11:13.697]on the grad plus loans.
[00:11:15.673]The unsubsidized Stafford Loans, those federal loans,
[00:11:20.723]again, you know what unsubsidized means?
[00:11:23.277]The government's not gonna pay your interest
[00:11:25.169]I mean, you have to pay the interest
[00:11:26.992]because the government will not pay your interest
[00:11:28.662]so you're paying the interest from the very beginning.
[00:11:31.006]Subsidized means that the government
[00:11:32.899]will pay you interest rate from the beginning
[00:11:35.421]until you either graduate or six months after graduation
[00:11:38.272]or you drop out or whatever, okay?
[00:11:40.691]Federal Perkins Loans, same thing
[00:11:43.037]but that program got cut in 2008
[00:11:46.601]and there's still some residual left
[00:11:48.610]so they're still honoring some of that.
[00:11:50.723]In that loan, in the Perkins Loan,
[00:11:53.158]there was a guy from Kentucky, a senator from Kentucky,
[00:11:56.052]that's what the loan got named after,
[00:11:58.525]and that loan, if you go back and work in rural areas
[00:12:01.149]you can get up to 50% of your loans paid off
[00:12:05.304]by the government by serving those
[00:12:07.267]that have the most needs, like for instance
[00:12:09.575]if you're a nurse or a doctor, engineer in some of the areas
[00:12:14.349]so that's what the Perkins is.
[00:12:17.898]Percentage of greatest students with loans
[00:12:19.806]by level, race and ethnicity.
[00:12:21.442]The white students, they average at the doctoral level.
[00:12:23.729]About 38% of them get loans.
[00:12:26.063]This was in 2008, 41% for masters degrees, have loans.
[00:12:30.437]Latinos, 41%, little bit higher than the white population
[00:12:35.523]and 58% at the masters level.
[00:12:37.775]African Americans, 62% at the doctoral level
[00:12:39.920]and 68% at the masters level.
[00:12:44.416]Asian, about 19% at the doctoral level
[00:12:47.760]and 35% at the masters level.
[00:12:50.778]Why do you think the doctoral levels are less?
[00:12:53.832](class murmurs)
[00:12:56.448]Alright, one at a time, raise your hand, speak up.
[00:13:00.101]They don't have to pay for it.
[00:13:01.599]Exactly, is that what you were gonna say?
[00:13:03.178]Yeah, like they usually fund 'em.
[00:13:06.309]Exactly, they figure out ways to fund you
[00:13:08.368]so that should take care of your tuition,
[00:13:09.761]that's why it's lower.
[00:13:11.002]So, look at the graduate Denver for masters and graduates.
[00:13:14.637]And the number I like to look at is "no graduate debt"
[00:13:17.377]so I take a look at universities by state.
[00:13:19.629]Every university has this circle,
[00:13:21.901]and many times we can find this on the website,
[00:13:24.656]we say okay, "How many of these students
[00:13:27.094]don't have any debt from masters?"
[00:13:29.649]They say 42%, not too bad, huh?
[00:13:32.697]But, here we go, $80,000 or more in debt, 2%, alright.
[00:13:37.657]What does that tell you?
[00:13:39.545]The probability is 98% of you that go to that university
[00:13:42.337]will probably not have any debt,
[00:13:44.546]98% of you will not have a debt of $80,000 or more.
[00:13:46.984]Does that make sense?
[00:13:48.828]Okay, the same thing goes to less than $20,000, only 21%.
[00:13:54.554]So what does that tell you?
[00:13:56.284]79% of you probably will not have more than $21,000.
[00:14:00.522]Isn't that great, can you imagine?
[00:14:02.757]How much does a car cost you now, the average car?
[00:14:05.038]You're engineers, how much?
[00:14:07.604]$25,000, $30,000, depends on what you want.
[00:14:11.435]$25,000 to $30,000.
[00:14:13.142]How long do you gotta pay it off?
[00:14:14.811](class mumbles)
[00:14:16.310]Five years, how long before it falls apart?
[00:14:18.540]Depends on what you bought.
[00:14:21.245](class laughs)
[00:14:22.453]Okay, let's say you bought a Passat.
[00:14:25.492]How long do you think it'll last?
[00:14:28.396](unintelligible question)
[00:14:30.621](class laughs)
[00:14:31.456]If it's a diesel.
[00:14:32.657](class laughs)
[00:14:33.490]Man, quit qualifying all the answers, okay.
[00:14:36.753]On the average, by the time you've paid off your car
[00:14:38.576]it's the fifth year, if you don't get
[00:14:41.130]an extended warranty on it, by the seventh year, guess what?
[00:14:44.088]You start making repairs.
[00:14:45.750]By the time it reaches 70,000 to 80,000 miles,
[00:14:48.862]you're talking draining and other things like that
[00:14:51.180]unless you keep up the super maintenance, and even then.
[00:14:54.175]And you paid off that $30,000 in five years
[00:14:57.579]and many of you will come tomorrow and say,
[00:15:01.505]"How much do I have to borrow, $10,000?
[00:15:03.949]Oh forget that, that's way too much money
[00:15:06.265]for my longterm life education
[00:15:08.843]that I get to keep for the rest of my life
[00:15:10.789]and never have to trade it in,
[00:15:12.778]and the only time it's gonna get old
[00:15:14.690]when I waste and I stop reading and educating myself.
[00:15:18.719]What do you think, is that car worth it?
[00:15:22.735]Some of you will sign a contract like I stated before
[00:15:25.584]into the afterlife, you'll buy a brand new car
[00:15:28.487]and you'll say "$199 a month, you can't beat it!"
[00:15:32.677]And you'll go and you'll sign the papers,
[00:15:34.396]yeah $199 a month for ten years.
[00:15:36.145]By that time, your car's a piece of junk.
[00:15:38.309]But, you got a good deal, didn't you?
[00:15:40.282]Look at the doctors level, 45% on average.
[00:15:45.658]Now, let's look at the doctors level in 2009, 2010,
[00:15:49.547]52.3% had no debt, the universities that they attended
[00:15:54.261]took care of them.
[00:15:55.724]They needed them to do research,
[00:15:57.126]they needed them to help the faculty,
[00:15:58.612]they needed them to help teach students, so 52%.
[00:16:03.423]That means that your chance of having no debt at all
[00:16:05.674]is about 48%, is that great or what?
[00:16:08.740]Now look at that, $10,000 or less, 9.5%.
[00:16:14.406]That means that more than 81.5% of you
[00:16:21.997]will not have more than $10,000 or less in debt
[00:16:30.391]for doctoral degrees, what do you think, worth it?
[00:16:33.516]Yes, okay, alright, cool.
[00:16:39.680]Okay, what are some types of funding?
[00:16:41.852]This is where you have to pay close attention.
[00:16:43.988]There's research and training grants, scholarships,
[00:16:46.484]fellowships, teachings assistantship
[00:16:48.643]and research assistantship, I'm gonna go over each one.
[00:16:51.790]Grant, anytime you see the word grant, what does that mean?
[00:16:54.692](class chatters)
[00:16:56.480]It's never free, they want you to do something...
[00:17:00.728]You don't have to pay it back.
[00:17:04.944]You what, you do payments you said?
[00:17:07.103]No, GPA agreements.
[00:17:08.576]Yeah, okay, exactly, what they want you to do,
[00:17:10.653]GPA and what else?
[00:17:11.979]You don't have to pay it back.
[00:17:12.812]You don't pay back, but what's the catch though
[00:17:15.227]if you don't have to pay it back?
[00:17:16.800]GPA's one, you gotta maintain a good grade point, what else?
[00:17:19.651]Minimum credit hours?
[00:17:21.636]Gotta have enough credit hours,
[00:17:23.331]it's usually full-time, undergraduates,
[00:17:24.236]full-time is about 12 hours and for graduates
[00:17:26.930]it's about 9 hours or more depending
[00:17:28.950]on what university you go to, what else?
[00:17:32.556]You must stay enrolled each semester at full-time status.
[00:17:37.170]You skip a semester, you lose your grant, what else?
[00:17:44.265]GPA, must stay enrolled, must be full-time, anything else?
[00:17:51.555](student mumbles)
[00:17:56.744]You must take the courses required within your major.
[00:17:59.798]Some of you decide, "Oh, I'm gonna switch
[00:18:03.034]and take some basket-weaving one year
[00:18:05.220]'cause I wanna get my GPA up,"
[00:18:07.112]and they only allow you so many hours per year
[00:18:08.981]and you have to finish those hours,
[00:18:10.758]and by the fourth year, if you're not done,
[00:18:13.298]you don't get the grant anymore
[00:18:15.100]but if you skip out on a semester
[00:18:16.930]and you lose the grant, you've gotta start all over.
[00:18:18.525]So, I mean, all these different things.
[00:18:20.996]So money's never free, there's always a catch.
[00:18:23.350]You have to find out what the catch is, okay.
[00:18:26.021]Soon as I receive grants from the government
[00:18:27.929]or from private sources, I once received one
[00:18:31.470]from the core foundation, Hispanic Scholarship Grant,
[00:18:33.893]they gave me $2,000, that was pretty cool.
[00:18:37.101]My other friends that got it went and bought a car,
[00:18:39.283]I put it into the bank, six months later
[00:18:41.938]they were starving, I was not, so that was a good thing.
[00:18:43.891](students laugh)
[00:18:46.818]They may require students
[00:18:48.279]to maintain a specific GPA, I already said that.
[00:18:49.848]In graduate school, grants can be used towards travel,
[00:18:52.400]research, experiments or projects.
[00:18:55.770]The first time I went to a conference, I was broke.
[00:18:58.111]Paul Pope and I, my doctoral colleague,
[00:18:59.646]we went to west Tennessee for a conference
[00:19:03.188]and we had no pick-up truck, it was a Toyota
[00:19:05.261]and it had a little camper in the back.
[00:19:07.262]It wasn't really a camper, it was just a shack.
[00:19:09.098]So we went to the American Psych Association convention,
[00:19:11.461]they had about 10,000 or 15,000 people.
[00:19:14.903]We went and we didn't get a hotel because we were poor.
[00:19:18.543]So we park in the parked in the parking garage,
[00:19:20.069]it was $15 a day, so we had two big sleeping bags
[00:19:23.571]inside the back and what we did was,
[00:19:25.439]we parked in the parking lot and we had curtains
[00:19:28.160]on the back of the truck and we slept in there
[00:19:30.874]so when it came time, the YMCA was about three blocks away,
[00:19:33.943]so in the morning, you know, we took our dress clothes,
[00:19:37.368]we'd go to the YMCA, we showered and everything,
[00:19:39.504]put on our clothes and we'd go and snuck into the sessions
[00:19:42.581]at the American Psych Association Convention
[00:19:44.783]and we went to all the sessions, and we went to...
[00:19:46.621]Almost every session has food and we were starving
[00:19:49.524]so we went and we ate the food and so forth.
[00:19:52.206]You're taping this aren't you?
[00:19:54.737]I shouldn't be saying all this.
[00:19:56.732](class laughs)
[00:19:58.087]Okay, but that's how I went to my first conference.
[00:20:00.309](class laughs)
[00:20:01.583]All the other students in the program had money to go,
[00:20:04.438]they had support from either their parents
[00:20:06.357]or loans or whatever, we didn't have anything,
[00:20:08.692]and that's how I got to go to my first conference.
[00:20:10.735]And nobody knew, well you do now,
[00:20:13.011]but anyway, nobody knew what we did
[00:20:15.228]but we got to, that's how we went to my first conference
[00:20:18.224]and I got to sit in all those sessions
[00:20:20.429]and meet all those people.
[00:20:22.392]Back then, they never checked you,
[00:20:24.187]now they have these badges and everything,
[00:20:25.282]they scan you when you go in,
[00:20:26.382]'cause I guess too many of us kept doing that.
[00:20:27.670](class laughs)
[00:20:30.008]Scholarships, do you pay scholarships back?
[00:20:32.295]No.
[00:20:34.384]No, you get to keep that money, however,
[00:20:36.670]they're given to students based on academic talent.
[00:20:42.166]What does that mean, you have to do what?
[00:20:44.728]Keep the GPA up, you've gotta attend your classes,
[00:20:47.582]you can't drop out a semester,
[00:20:49.452]you gotta maintain your full-time status,
[00:20:51.413]almost the same thing as a grant, right?
[00:20:53.436]Scholarships vary in amounts, some people get...
[00:20:55.223]I've seen like, the people who get
[00:20:58.266]the The Gates Millennium Scholarship,
[00:20:59.822]you know how much that pays?
[00:21:01.622](class mumbles)
[00:21:03.372]Up to $30,000 a year from bachelors
[00:21:05.310]all the way through what?
[00:21:07.659]Doctored, they pay for the whole thing
[00:21:09.551]as long as you stay in school consecutive,
[00:21:11.293]they pay your education from bachelors,
[00:21:13.325]all the way through doctored degree,
[00:21:14.869]The Gates Millennium Scholarship.
[00:21:17.214]I know, it's like, how come I never got any of these?
[00:21:19.768]These didn't exist when I was in school.
[00:21:22.352]I'm just a little bit older than you all.
[00:21:24.175]Scholarships like a grant you've gotta maintain your grades,
[00:21:30.351]can be awarded through your school or private resources.
[00:21:33.277]Fellowships, there are generally three types.
[00:21:36.014]Recruitment, most universities have recruitment fellowships,
[00:21:38.836]they're usually good for about a year
[00:21:40.777]but you've gotta remember that,
[00:21:42.217]because what happens at the end of the year?
[00:21:43.618](student mumbles)
[00:21:45.660]You what, no.
[00:21:47.917]If you only get a scholarship for one year
[00:21:49.771]what does that tell you?
[00:21:51.469]That you only get money for one year.
[00:21:54.045]Yep, so you've gotta figure out
[00:21:56.878]where the rest of the funds are coming from.
[00:21:58.492]So you've gotta be careful of those things
[00:22:00.189]if you get a one-year recruitment scholarship,
[00:22:02.185]they'll say "We want you, we want you so bad,
[00:22:03.257]we're gonna pay your first year of college
[00:22:04.986]and we're gonna take care of you,"
[00:22:06.648]end of the first year, there's no more funds.
[00:22:08.643]"Well yeah, we only promised one year,"
[00:22:10.572]but you're over a year, you're over a year
[00:22:12.394]so you have to make arrangements
[00:22:14.206]during that first year to make sure
[00:22:16.096]that you cover yourself, okay?
[00:22:20.787]Special needs, special needs scholarships.
[00:22:23.169]What that means is, like for instance
[00:22:26.280]they may need more nurses, let's say.
[00:22:29.018]So they'd say, "We're gonna give you a scholarship
[00:22:32.267]to go to major in nursing and we're gonna pay
[00:22:35.510]for two or three years," but it's specific to the major,
[00:22:39.069]so as soon as you get out of there, what happens?
[00:22:41.280]You lose your scholarship,
[00:22:43.219]that's what they're paying you for
[00:22:45.156]and some scholarships, if you do that, guess what happens?
[00:22:47.768]They make you pay it back if you left the major
[00:22:51.260]that they were paying you to be in.
[00:22:53.153](student exclaims)
[00:22:55.166]You don't if you stay and follow the rules
[00:22:57.174]of the scholarship.
[00:22:58.151](student mutters)
[00:23:00.057]Fellowships, they'll give you but you've gotta stay
[00:23:03.572]within the major that you get it in.
[00:23:07.025]That's the kind of fellowship that you get.
[00:23:09.521]Does that make sense?
[00:23:10.880]If that's the kind you get, like for instance
[00:23:13.756]for psychology, they were recruiting
[00:23:15.847]more and more psychologists, so I could get a fellowship
[00:23:18.506]but I had to stay in psychology.
[00:23:20.268]As soon as I got out, guess what happened?
[00:23:22.583]I didn't get out, but for those that did,
[00:23:23.798]they lost their money, it was over.
[00:23:26.576]Sometimes depending on the rules of the fellowship,
[00:23:29.025]sometimes they make you pay it back
[00:23:30.721]if it's for a specific major, okay.
[00:23:33.484]Yes, faculty associated fellowships.
[00:23:38.544]That's when a faculty might write a grant
[00:23:41.031]or so forth, and they have enough to pay
[00:23:42.993]for a fellowship for one year,
[00:23:45.419]they'll go recruit you, and then guess what?
[00:23:47.495]You get to work with them but you stay with them.
[00:23:48.461]But what happens if you leave that faculty?
[00:23:51.875]You lose your money, all these different things.
[00:23:54.912]So there's a catch to everything,
[00:23:56.468]you have to make sure that you know what you're doing,
[00:23:58.690]how to do it, and the decisions that you make.
[00:24:01.495]Okay, fellowships are granted to graduate
[00:24:04.065]and post-graduate students, awarded
[00:24:06.898]by private organizations and institutions or the government,
[00:24:09.382]given a one to four year stipend,
[00:24:11.228]with or without a tuition waiver.
[00:24:12.921]Sometimes fellowships don't pay your tuition.
[00:24:15.362]Sometimes they do, these are questions you've gotta ask.
[00:24:18.935]When you get the letter,
[00:24:20.992]"You have just received a fellowship,"
[00:24:22.595]doesn't it make you feel good?
[00:24:23.812]First thing you do is show your parents, huh?
[00:24:25.472]Look what I got, and then you realize
[00:24:27.715]that you've gotta pay $10,000 in tuition
[00:24:31.716]that's not included in your fellowship.
[00:24:33.972]You've gotta ask those questions up-front.
[00:24:36.318]Okay, based on merit, need and institutions
[00:24:38.094]like a grant, awarded by schools
[00:24:41.339]to students who have been recommended by a faculty member.
[00:24:43.620]For most fellowships, you're gonna need a reference letter,
[00:24:45.664]they're gonna need your resume,
[00:24:47.811]you're gonna need to show your own experiences,
[00:24:51.120]how they relate to what it is you're applying to.
[00:24:53.604]What's the first thing you do
[00:24:55.602]when you're interested in working for the faculty
[00:24:58.887]and they have a fellowship, what's the first thing you do?
[00:25:01.929]Suck up.
[00:25:03.364]Did you say "suck up"?
[00:25:05.238](class laughs)
[00:25:07.374]I probably wouldn't have used that word
[00:25:08.696]but what you want to do though
[00:25:11.612]is go on their website, take a look
[00:25:13.805]at what that faculty's experience is,
[00:25:15.951]find out what their interests are
[00:25:18.437]so that when you write your letter it's guess what?
[00:25:21.596]"Dear Dr. John Doe, I see
[00:25:23.953]that you and I have similar interests.
[00:25:26.322]I've always been enamored and very excited
[00:25:28.689]to study within the area of civil engineering
[00:25:31.159]in the area of whatever their research is.
[00:25:34.516]I also see that you have the same types of grants
[00:25:37.903]and research directly related to that area.
[00:25:40.532]I would very much like to work with you.
[00:25:42.783]My ambition and my motivation is very high.
[00:25:45.380]I would like you to consider me for that fellowship."
[00:25:50.598]You know what you should've been doing, right?
[00:25:53.473]Oh, that sounds good, let me get that one down.
[00:25:56.546]Oh cool words, they sound good.
[00:25:58.560]So, you think it sounds good because
[00:26:00.914]guess what, when faculty gets letters like that
[00:26:02.584]we think, "Wow," and you're right,
[00:26:04.293]we think, "This person really is kind of kissing up,"
[00:26:06.638]but guess what, we're thinking
[00:26:08.763]"they took the time to read the website,
[00:26:10.876]they took the time to look at the work I was doing,
[00:26:12.891]they took the time to look at the details
[00:26:15.078]within that work, and they took the time to say something
[00:26:17.650]about how it integrated with what their interests were
[00:26:19.863]and where they might want to go."
[00:26:22.603]Cool huh, I used to do workshops on how to write resumes,
[00:26:25.539]how to interview, and how to dress for success.
[00:26:28.452]And I always had students go "Why do we gotta do that?"
[00:26:30.672]And I go, "Do you want a job or don't you?
[00:26:33.434]Do you want a fellowship or don't you?"
[00:26:35.326]These are the kind of things that you do.
[00:26:38.184]Teaching assistantship, I was a TA.
[00:26:40.525]Okay, offers students opportunities
[00:26:42.859]to learn how to teach and develop.
[00:26:45.578]I love teaching, I love getting up
[00:26:47.538]and seeing if I can inspire your minds,
[00:26:50.244]and if I can't, I think "Oh, what'd I do wrong?
[00:26:52.161]I've gotta change something."
[00:26:53.598]Teaching assistants, sometimes you get
[00:26:55.125]to help the faculty grade papers.
[00:26:57.818]Sometimes you actually get to teach a class,
[00:26:59.989]sometimes you get to tutor the students,
[00:27:01.789]sometimes you get to oversee labs,
[00:27:03.665]you get to do a lot of cool stuff
[00:27:05.641]and it makes you feel what?
[00:27:07.357]When you have all these other graduates in front of you
[00:27:09.296]and you're up there teaching.
[00:27:10.772]What's that make you feel like?
[00:27:11.884]Maybe the question I should ask is,
[00:27:13.512]"How many of you'd like to teach?"
[00:27:15.949]Okay, we've got five of you, so only five, okay.
[00:27:18.798]So what do the rest of you gonna do
[00:27:20.418]if you get offered a teachers assistantship,
[00:27:21.851]are you gonna say "Well, it's not what I really want to do."
[00:27:25.844]By the way, most teaching assistantship
[00:27:29.792]and graduate assistantship at the graduate school level
[00:27:33.020]are usually have a tuition waiver,
[00:27:35.894]or they pay the tuition, or at least
[00:27:37.768]you get in-state tuition.
[00:27:39.228]Can you imagine if a professor goes,
[00:27:40.433]"I have a great opportunity for you
[00:27:42.653]to be a teachers assistant," what are you gonna say?
[00:27:44.885]What are you gonna say?
[00:27:46.366]Yes.
[00:27:48.039]Cause what if you try it and you love it?
[00:27:51.512]And what if you try it and you're miserable?
[00:27:54.056]Then you know, "Okay, I'm not gonna be a professor."
[00:27:56.286]But what if you try it and you love it
[00:27:58.155]and you think, "Wow, this is not bad," okay?
[00:28:01.311]That's legit, you could get anywhere
[00:28:03.914]from $7,500 to $20,000.
[00:28:05.755]$7,500 is usually working for ten hours a week
[00:28:08.082]for two semesters is about $7,500
[00:28:10.659]and then $20,000 if you're working 20 hours a week
[00:28:13.399]across nine months.
[00:28:17.045]You get experience in and out of the classroom,
[00:28:19.553]you get to work with faculty members,
[00:28:21.120]and you get to learn how to do a lesson plan,
[00:28:22.905]you get to learn how to teach,
[00:28:24.649]you get to learn how to do concepts, theories,
[00:28:26.182]all that kinds of stuff and many times,
[00:28:28.326]you get a chance to actually work with the professor
[00:28:30.685]so you can get a publication.
[00:28:33.356]And guess what, what happens
[00:28:34.820]when you get your first publication,
[00:28:36.167]what do you do with it?
[00:28:37.420]Frame it.
[00:28:38.651](class murmurs)
[00:28:39.657]Show it to your mom, some of us framed it,
[00:28:41.668]some of us like to share it with everyone else too
[00:28:43.945]and say "Look I got published, man."
[00:28:47.548]Because when you get published, guess what,
[00:28:49.472]it lasts forever, right?
[00:28:50.900]That article's gonna be there forever.
[00:28:53.565]Then you'll be 80-years-old and show your grandchildren.
[00:28:55.347]Let me show you...
[00:28:57.239]See, because it's always gonna be there, okay?
[00:29:03.840]Duties, teaching assistant, okay,
[00:29:06.340]running lab sessions, grading undergraduate papers,
[00:29:08.743]I already talked about that.
[00:29:10.229]You hold regular office hours like a faculty,
[00:29:12.523]and students get to come in and see you
[00:29:14.813]and you get to tell 'em, "You did excellent,"
[00:29:16.972]and you also get to tell 'em,
[00:29:18.239]"I don't think you're gonna pass this class."
[00:29:20.220](students laugh)
[00:29:21.974]So that's part of the responsibility,
[00:29:25.218]part of the responsibility,
[00:29:27.052]'cause you're helping the professor.
[00:29:28.466]Hopefully you can tell 'em, "You know,
[00:29:29.408]with a little bit of help, I think I can get you
[00:29:30.787]up to the grade you want to be at, hopefully," okay?
[00:29:35.712]Conducting study and review sessions,
[00:29:37.685]these are cool, study sessions.
[00:29:40.321]I used to conduct psychology labs
[00:29:42.225]that I'd run and teach 'em how to...
[00:29:44.151]I would teach the students mnemonics,
[00:29:45.646]I would teach 'em how to memorize stuff
[00:29:47.055]so they could remember it forever,
[00:29:48.665]I'd actually teach 'em how to sing songs
[00:29:50.188]for the answers, you wouldn't believe the stuff
[00:29:52.646]I used to do to make sure students could pass the tests.
[00:29:55.631]Okay, why become a research assistant?
[00:29:58.374]Why, because you're actually gonna learn your research.
[00:30:01.251]What is research?
[00:30:03.211]Being able to answer a question
[00:30:04.525]that hasn't been dealt with yet.
[00:30:06.943]Being able to study it, being able to analyze it.
[00:30:08.622]Guess what, really coming up with something
[00:30:12.534]that's gonna better the livelihood of everybody around you.
[00:30:18.173]What I'm doing here might be able to develop
[00:30:21.002]the greatest transportation stoplight.
[00:30:24.056]It's gonna force people to stop when they're supposed to,
[00:30:26.469]not run red lights and keep people safe on the road.
[00:30:32.308]We have turnabouts, we finally put in turnabouts
[00:30:34.351]in New Mexico, you know
[00:30:36.676]those driving circles for the cars, right?
[00:30:39.265]You know, that they have in Europe?
[00:30:41.154]We still don't get it, I see people
[00:30:42.806]hit more people on that thing...
[00:30:44.359]People don't understand.
[00:30:45.357]No, they don't, exactly!
[00:30:46.787]They keep driving around thinking,
[00:30:48.571]"Man, I gotta get to the outside, how do I do this?"
[00:30:50.178]Exactly, you're supposed to yield,
[00:30:54.785]and you know what that means?
[00:30:56.262]You're supposed to be nice when you're driving.
[00:30:57.841]That's what that means, you don't scream at people.
[00:31:00.113]Okay, but that's what those roundabouts are about.
[00:31:01.730]So now we're having more crashes reported
[00:31:03.739]'cause our people don't understand it.
[00:31:05.664]So you just gotta educate or do something, okay.
[00:31:07.616]Now we used to have what, we thought
[00:31:10.275]that we could stop people from running red lights
[00:31:13.033]if we did what, put what up on the poles?
[00:31:14.787]Cameras.
[00:31:15.770]Cameras, well then our city
[00:31:17.512]went over three million dollars in debt
[00:31:19.767]and they're still trying to collect
[00:31:21.725]and it's been five years, so they took the cameras off
[00:31:23.609]said, "Forget it, we can't collect."
[00:31:27.881]Yep, so some things work and some things do not.
[00:31:30.908]How do you get involved as a research assistant?
[00:31:33.822]You visit the faculty job on the website
[00:31:37.258]and then you take a look what they're interested in,
[00:31:39.733]you find out what kinds of grants and stuff they have
[00:31:41.628]then you go visit them to see what opportunities they have
[00:31:43.941]and you ask, just like they told you over there,
[00:31:45.545]you ask, "Do you have any research internships?"
[00:31:49.234]Okay, okay here we go.
[00:31:52.669]Project basics, how much can you count on?
[00:31:54.659]What you get and only what you get.
[00:31:57.120]What are your monthly expenses, so here we go,
[00:32:00.717]take out your sheet, ready?
[00:32:02.575]By the way, that website over there,
[00:32:04.141]if you click on that website at home
[00:32:06.513]it'll take you right up to your project calculator.
[00:32:08.649]So here we go, first you have to find out how much...
[00:32:13.974]When you applied to the university
[00:32:16.034]and they sent you your funding letter
[00:32:17.412]and they tell you what you're gonna get,
[00:32:18.876]assistantship, grants or whatever, this is what you do.
[00:32:21.636]First thing you do is you put 'em all down, okay?
[00:32:25.399]Like you gotta res assistantship,
[00:32:26.901]how much are you gonna get paid?
[00:32:28.413]How much you gonna take home?
[00:32:29.716]Off-campus job, hopefully you won't get one of those,
[00:32:32.616]the off-campus jobs don't pay much
[00:32:35.099]unless you can work for a company
[00:32:36.901]and you're doing research for them and so forth.
[00:32:39.630]Family, loans, who's gonna help you out,
[00:32:42.395]and you total all your funds, you say
[00:32:45.607]"Okay, this university's gonna give me $30,
[00:32:47.491]this university's gonna give me $25,
[00:32:49.198]this university's gonna give me $50.
[00:32:51.207]Then what you do, take out the sheet.
[00:32:56.322]Now listen carefully, this is very important.
[00:32:58.718]Listen carefully.
[00:33:00.994]Every university website will tell you,
[00:33:03.721]private school or public school,
[00:33:05.916]how much it cost, bottom line to go there.
[00:33:08.865]And they will have on that website, tuition and fees,
[00:33:14.078]room and board, books and supplies,
[00:33:16.261]transportation, personal expenses,
[00:33:18.862]campus health insurance, resident or non-resident tuition,
[00:33:23.119]and they'll have the total down at the bottom.
[00:33:25.533]Same thing, public university, tuition per credit-hour,
[00:33:28.737]technology fees, library fees,
[00:33:31.178]everybody's different but at the bottom
[00:33:33.233]it'll say you need $26,000 to survive there,
[00:33:36.608]private schools about $42,000,
[00:33:38.517]and that's about average for a private school.
[00:33:41.159]So now you know how much you need for each one, right?
[00:33:47.093]Step number two, you put down the university that you pick,
[00:33:51.230]you put down how much housing, utilities could cost,
[00:33:55.665]groceries, transportation, entertainment,
[00:33:58.602]and you put it all down.
[00:34:00.109]Don't think about how much you're getting,
[00:34:02.027]just put everything down that you know you have to put down.
[00:34:04.813]By the way, before I went to graduate school
[00:34:07.525]I paid off all my credit cards,
[00:34:11.060]I had zero debt in credit cards
[00:34:12.860]before I started grad school.
[00:34:14.601]I sold my car and bought a car for $1,500.
[00:34:16.674]It ran pretty good, it just got me around.
[00:34:19.429]I had a nice car and I sold it
[00:34:21.358]because my loan payment was $450 a month just for the car,
[00:34:29.524]so, put all that down.
[00:34:32.757]If you have children, daycare and so forth.
[00:34:35.497]Anything you think you would spend, you put it down.
[00:34:38.398]Step number three, non-monthly expenses.
[00:34:41.776]Like, for instance, how about your car registration?
[00:34:44.830]That's once a year, usually about $40 to $100 right?
[00:34:47.524](student mumbles)
[00:34:50.791]100, okay a year, right?
[00:34:53.493]For your car registration, insurance,
[00:34:56.522]health care, moving expenses, that's a one-time only, right?
[00:35:00.800]Unless you did like we did, we did in the back of a truck.
[00:35:05.118]Just me and my friend, not my wife and I,
[00:35:07.038]just me and my friend, my wife would never do that.
[00:35:09.693]Lab research expenses, professor association.
[00:35:11.845]When you join the professor association,
[00:35:14.597]undergrad or graduate, it usually costs
[00:35:17.882]about maybe, $50 to $100 a year, those are yearly.
[00:35:21.897]Travel to conference, don't do it like I did,
[00:35:25.057]that's embarrassing man, we almost got caught.
[00:35:27.920]Yes ma'am.
[00:35:29.096]It's horrifying.
[00:35:33.347]Oh, thank you.
[00:35:35.206]Vacations, you're students, you don't take vacations.
[00:35:37.667](class laughs)
[00:35:39.734]Five minutes, you've got five minutes.
[00:35:43.031]Okay, so now what you do, we're almost there.
[00:35:44.935]You take your total funding, and that's what
[00:35:46.195]the university has offered you, alright
[00:35:49.215]total monthly expenses, you put that there,
[00:35:52.700]total non-monthly expenses, and God you pray
[00:35:56.092]you pray you say, you hope it comes out to zero.
[00:35:58.886]That's what they mean by a zero based budget.
[00:36:01.073]That's what they hope it'll come out to zero.
[00:36:04.472]If it does not, that means whatever you're missing,
[00:36:07.306]you gotta take out a loan or do some other way
[00:36:10.129]to fund yourself, you've gotta make up that difference.
[00:36:13.793]You do not need a car, let me tell you
[00:36:15.771]you'll learn this quickly, you've gotta save.
[00:36:18.510]When I had my graduate assistantship, I realized
[00:36:22.454]that I could live on half that money
[00:36:24.600]so I was stashing the other half away
[00:36:26.430]'cause the following year, I might not get it
[00:36:28.766]or I might not have the money I needed.
[00:36:32.322]So this is what you do to save budget
[00:36:35.190]from your assistantship, save money in your savings account.
[00:36:37.826]Understand your tax situation.
[00:36:41.703]Not being able to earn income credit
[00:36:43.640]so a student should probably qualify for that
[00:36:45.918]to get an extra maybe $1,500 a year back or something
[00:36:48.084]'cause you're not paying much in.
[00:36:50.464]Don't do investments, investments means
[00:36:53.429]that you get a CP or something like that,
[00:36:55.612]guess what, you can't take the money out
[00:36:57.969]for three to five years because you have to let it mature.
[00:37:01.483]Savings is probably the only way to go.
[00:37:04.687]Longterm investment, you don't have enough
[00:37:07.013]to do longterm investment, most investment companies say
[00:37:09.312]"How much do you want to invest, $100 a month?
[00:37:12.665]To do what?"
[00:37:14.488]So no, common mistakes, no savings for emergencies,
[00:37:17.983]you invest and lose all your money
[00:37:20.906]because you're risky like you buy stocks,
[00:37:23.475]we have another stock crash and guess what?
[00:37:25.621]You're back down to zero.
[00:37:27.350]Not knowing the difference between funds and resources,
[00:37:29.162]changing or not changing value.
[00:37:31.440]You change the advisor that's funding you,
[00:37:33.391]you think the advisor is gonna keep paying
[00:37:35.457]to work for somebody else, no.
[00:37:39.426]It's like the mafia, you broke the family rule,
[00:37:42.049]you don't get nothing, you don't get nothing.
[00:37:45.059]Conclusion, weigh the benefits, stack your funding.
[00:37:53.042]I acknowledge the loans, I know I need a graduate fellowship
[00:37:59.301]Did you learn something from this?
[00:38:01.656](class mumbles affirmatively)
[00:38:02.489]What'd you learn?
[00:38:04.099](class mutters)
[00:38:08.276]Well what you need to do, okay
[00:38:09.985]these are evaluation forms, take one each
[00:38:14.834]and then don't come back here.
[00:38:17.305]By the way, remember, every university's website
[00:38:20.708]will tell you exactly how much it costs to go there
[00:38:23.801]so put down what you're gonna get,
[00:38:26.528]compare it to what you need,
[00:38:28.491]subtract the difference and that's when you know
[00:38:30.744]what you're gonna have to do for loans and so forth.
[00:38:33.263]Got it?
[00:38:35.094]And you go to the best deal, it might not be
[00:38:36.723]the university that you wanna be at,
[00:38:39.132]but for me, this is my advice,
[00:38:41.154]most people say pick the one you think would be a good fit,
[00:38:43.803]that's true, but if the good fit
[00:38:46.343]wasn't gonna give you anything,
[00:38:48.270]you might wanna find another good fit.
[00:38:50.980]Take one, pass it around and give me the rest, questions?

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Tags:
ntc
matc
nebraska transportation center
mid-america transportation center
matc scholars program
scholars program
graduate school
new mexico state university
nmsu
college funding
Luis Vázquez

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2015 MATC Scholars Program: Dr. Luis Vázquez

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