twenty4ever

www.alliantcreditunion.org a newsletter for Alliant Credit Union young adult members March 2013

contents
1 Is college worth the money

these days? money is

Is college worth the money these days?

Until recently, going to college was basically a no-brainer. A bachelors degree in just about any subject used to open the door to lots of different jobs, says Anthony Carnevale, director of Georgetown Universitys Center on Education and Workforce. Not anymore. Not since the economic train wreck of 2007 roared through the world. And, today, as the Great Recession continues to linger, many Americans wonder whether college is worth the expense. For one thing, theres college sticker shock. Since the 2007-2008 academic year, tuitions at private colleges have jumped 13% and, at in-state public People with a bachelors degree, on average, will earn $1 million more, during their lifetime colleges, 27%, according to the College Board. Bottom line: for 2012-2013, a moderate annual budget for a private college averaged $43,289 and, $22,261 for a moderate in-state public college, the College Board reports. One result: 67% of todays collegians take out student loans, graduating with an average loan balance of $26,600, according to the Economic Policy Institute. Paying off these loans, for many, is a struggle if they cannot land a stable, decent-paying job. And thats a tough job in itself. The unemployment rate for young grads, as with most Americans, remains high. One glimmer of hope: employers expect to hire 13% more grads from the class of 2013 than they did from the class of 2012, according to the National Association of Colleges and Employers. Employers expect to hire 13% more grads from the class of 2013 than they did from the class of 2012 And heres another perspective: in 2011, the unemployment rate for recent college graduates, at 8.9%, was below the national average and considerably better than the 31.5% unemployment rate for Americans who dropped out of high school. So is college a good investment for you? Well, of course, it depends on you, as an individual. And, some argue, it depends on whether you choose a major thats more likely to lead to a lucrative career. Most experts still contend that going to college makes good dollars and sense both economically and in terms of intellectual and personal development, whatever your chosen major. People with a bachelors degree, on average, will earn $1 million more, during their lifetime, than someone with just a high school education, according to a 2012 Time magazine report. And today, college grads, on average, earn $20,000 more a year than high school grads, according to the Pew study. In fact, the money spent on college is, perhaps, the best investment you could possibly make, according to a 2011 report by the economic think-tank, The Hamilton Project. Aside from bolstering lifelong income, college can help you make the grade in other areas. Dailynance.com columnist Loren Berlin explains: College isnt just about the monetary return on investment. And to reduce an education to such a blunt calculation is to ignore the multitude of rewards that have both nothing and everything to do with long-term success. Specically, the opportunity to learn how to interact with people from all over the world, the ability to question what you know, the chance to push your limits, and to explore the unknown with the relative safety net of knowing the worst-case scenario for failure is probably no more than a bad grade on a paper.
Sources: pewsocialternds.org, Time, The Wall Street Journal, The New York Times, Forbes, dailynance.com, the newamerican.com, voxxi.com, wmpenn.edu, hufngtonpost.com, foxbusiness.com and howtoedu.org

2 For new grads: Where the

For new grads: Where the jobs are Student loans that really make the grade Earn a college scholarship!

DIVIDEND
April Savings Dividend DECLARED FEBRUARY 28, 2013

The April 2013 Savings and IRA dividend, declared 02/28/13, provides a Compounded Annual Percentage Yield of

0.70% APY

Dividends are paid on the last day of the month to accountholders who have maintained an average daily balance of $100 or more. Savings dividend is subject to change monthly.
April Checking Dividend DECLARED FEBRUARY 28, 2013

The April 2013 High Rate Checking dividend, declared 02/28/13, provides a Compounded Annual Percentage Yield of

0.65% APY

Checking dividends are paid on the last day of each month to accountholders who meet the requirements of the account. Checking dividend is subject to change monthly.

welcome to the world of work

For new grads:

Where the money is...

In September 2012, the unemployment rate for new college graduates (dened as college graduates ages 20 to 24) fell to 6.3%, according to the National Association of Colleges and Employers (NACE). However, that statistic doesnt factor in the underemployed primarily, young grads holding jobs that do not require a college education. That rate was 19.1% in 2011, according the Economic Briefing Institute. Here is NACEs breakdown of the starting salaries, per degree, of the 2012 grads who landed good jobs. Degree categories Business Communications Computer science Education Engineering Health sciences Humanities and social sciences Math and sciences Overall
Sources: The Economic Policy Institute and the National Association of Colleges and Employers

Student loans that really make the grade

Alliant wants to help students go further in school and life. Thats why were offering our members student loans with extremely attractive rates and terms1 and the interest may be tax deductible.2 Alliant offers three kinds of student loans: 1. K-12/College Student Loan, designed to help anyone in the family get an education. Available for college costs and qualifying K-12 programs. 2. Consolidation Student Loan, which combines student loan debt you have with other lenders into one convenient, affordable loan. 3. Traditional Student Loan, which provides borrowers the option of deferring payments while in school, plus the option to defer payments for an additional six-month period after the student is our of school. Its the perfect student loan for those who cant make payments right away.
For additional information, stop by an Alliant Branch or go to our website, www.alliantcreditunion.org, where you can also apply online. 1 Rates, terms and conditions vary based on creditworthiness and qualications. 2 Consult a tax advisor regarding the deductibility of interest.

2012 average salary $53,900 $43,717 $59,221 $40,668 $61,913 $49,196 $36,988 $42,471 $44,455

For new grads:

Where the jobs are...

Here are the ve industries that reported the highest number of new hires from the undergraduate class of 2012 regardless of major. Also listed: the average starting salary. Industry Number of new grad hires Educational services 444,500 Professional scientic and technical services Healthcare and social assistance Federal, state and local government Finance and insurance
Source: U.S. Census Bureau

Earn a college scholarship!

This summer, Alliant will again award ve $2,000 scholarships through our annual Members Scholarship Program. To qualify, students must be an Alliant member in good standing and be applying to or enrolled in an accredited undergraduate program at a four-year college, university or vocational/technical institution with a minimum of 12-credit hours during the 2013 fall semester.

Average starting salary $39,879

289,400 269,100 191,900 96,700

$48,035 $42,309 $44,863 $52,741

Visit our website, www.alliantcreditunion.org, for complete details and to obtain an application. Submissions must be received or postmarked by June 14, 2013. Winners will be notied by July 26.
The Program is made and conducted by Alliant Credit Union headquartered in Chicago, IL. You must be an Alliant member in good standing with a savings account in your name to apply. Alliant employees, board of directors, scholarship committee and family members of the same household are not eligible. All entries must be received/postmarked by 06/14/2013. Acceptance of scholarship constitutes authorization to use winners likeness and name without compensation. Odds of winning are dependent upon total number of entries received. Winners are responsible for any tax liability. Program is subject to all federal, state and local laws. Void where prohibited. All terms and conditions of Alliant products apply. Contact Alliant or visit our website, www.alliantcreditunion.org, for full details.

ofce closings
Alliant will be closed in observance of the following holidays:

dial direct: Alliant is there when you need us Alliant Member Contact Center 800-328-1935 24/7 personal assistance tdd/tty 773-462-2300 Self Service Telephone (SST) 800-482-5328 24/7 automated account access VISA Debit Card 800-328-1935 VISA Credit Cards 24/7 Member Service/ Account Info/Lost or Stolen: 866-444-8529

Memorial Day Monday, May 27, 2013 Independence Day Thursday, July 4, 2013 Convenient 24/7/365 account access Online banking at www.alliantcreditunion.org Mobile banking app for Android, iPhone and iPad Member Contact Center at 800-328-1935 Self Service Telephone at 800-482-5328 Over 80,000 surcharge-free ATMs nationwide Alliant Headquarters 11545 W. Touhy Avenue Chicago, IL 60666

Mortgage Hotline 800-328-1935, option 5, option 1 MonFri, 8am5pm CT Auto/Home Insurance 888-380-9287 MonFri, 6am10pm CT Sat, 6am 8pm CT GreenPath Debt Solutions 877-337-3399 MonThu, 7am9pm CT Fri, 7am6pm CT Sat, 8am5pm CT

NEW Deposits/Payments PO Box 2387 Des Plaines, IL 60017-2387 Credit Card Payments PO Box 1666 Des Plaines, IL 60017-1666 All Other Correspondence including IRA and HSA deposits Attn: IRA/HSA Dept. PO Box 66945 Chicago, IL 60666-0945
This newsletter is for members personal use only. Reproducing and/or selling the contents of this newsletter without prior written permission from Alliant Credit Union is prohibited. Copyright Alliant. Articles are prepared as an educational service for Alliant members. They should not be relied on as a substitute for individual nancial or legal research. Articles in this newsletter are not intended to be used (and may not be relied on) for penalty avoidance.

For Alliant Branch locations, Your savings federally insured to at least $250,000 backed by theBanking, full faith and credit of the Alliantand Online and United States Government product and service information, Credit Union Administration, visit our National web site: a U.S. Government Agency www.alliantcreditunion.org

Your savings federally insured and backed by the full faith United States Gov

National Credit Union A a U.S. Governmen

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government

PO Box 66945, Chicago, IL 60666-0945

VISA Gift Card Purchase: 800-328-1935 Support Center: 866-466-2362

Alliant Retirement and Investment Services Financial consultants are available to serve members in all states. Call 800-328-1935, option 9.

www.alliantcreditunion.org

National Credit Union Administration, a U.S. Government Agency

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government

National Credit Union Administration, a U.S. Government Agency

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