T.H.E. Launches The Ramen Report Blog Providing Financial Food for Thought to Students

ST. PAUL, Minn., April 10 /PRNewswire/ -- With the cost of a college education rising and students taking out even more loans to cover those increases, one non-profit student loan provider is offering students The Ramen Report, an online blog that speaks their language with easy-to-digest financial tips from other students and financial experts.

"Anyone who's purchased a packet of ramen noodles knows a thing or two about saving a buck, but navigating the challenges of financing college, budgeting and spending a finite amount of dollars while in school can be extremely daunting," said Taige Thornton, president and CEO of NorthStar, which developed the T.H.E. (Total Higher Education) loan programs. "The Ramen Report was developed to speak to students, and in many cases the advice comes directly from other students who share real-life examples of how to save money during those challenging college years."

The postings on the site offer information on a variety of topics -- from the importance of maintaining good credit and surviving the holidays on a budget, to reconsidering that daily latte. For instance, using student loan dollars to fund $4 coffee drinks may not be wise when you consider the interest on four years of lattes could add an additional $51 per month to a student loan payment on a 10-year repayment plan. For graduate students buying that latte with a Grad PLUS loan, it's even more expensive, considering the higher interest rate.

"Students can save more than $6,000 in interest payments by simply skipping the coffeehouse latte and brewing their own at home," Thornton said. "That is a significant amount of money."

The Ramen Report is hosted by T.H.E., a non-profit student loan provider that offers affordable loan rates and returns repayment bonuses to nearly 100 percent of its borrowers compared to other lenders that return repayment bonuses to less than 15 percent of borrowers. Since its inception in 1997, T.H.E. has returned nearly $182 million to borrowers in the form of repayment benefits and zero-fee programs. Unlike most lenders, T.H.E. offers real benefits on the front end and the back end.

A recent survey cited in USA Today found that fewer college freshmen are attending their top choice of schools -- not because of academic constraints but due to the financial costs associated with those schools. The Ramen Report offers helpful information on funding college and making the right financial choices throughout the college experience.

"Finding the right student loan can save a student thousands of dollars in the long run," Thornton said. "We want to provide as much information as possible so students can make educated decisions, and what better way to do that than to provide a site where students can share information on what works."

  Tips for Managing Money During the College Years

  -- Get organized -- Track your income and spending and develop a budget to
     follow.
  -- Know where your money is coming from -- Do you need to base your budget
     solely on student loans or will those dollars be supplemented with
     work? Also, students need to know and understand the timing of loan
     installments including the fact that dollars need to last 12 months
     even if the academic year is shorter.
  -- Rethink that latte -- If you can adjust your budget by an average of
     $15 a day for four years, you can save yourself almost $70,000.
  -- Save a little every day -- By choosing to do one cost-saving measure
     each day like bringing your lunch, using coupons or shopping at grocery
     stores rather than convenience stores, the dollars will add up.

T.H.E.'s Web site also offers information about the benefits and pitfalls of loan consolidation as well as a variety of calculators that will help parents and students compare loan options. For more information, visit http://www.theramenreport.org/, http://www.theloanprogram.org/ or call 1-800-366-0604.

About Total Higher Education

The Total Higher Education (T.H.E.) Loan Programs are a product of NorthStar, one of the most respected names in the student loan industry. Based in St. Paul, Minnesota, NorthStar is a non-profit organization whose mission is to help students lower the cost of financing a higher education. Since its inception in 1997, NorthStar has returned nearly $182 million to borrowers in the form of repayment benefits and zero-fee programs. As the 13th largest FFELP lender in the U.S., NorthStar has originated more than $5 billion in student loans.

Visit NorthStar and Total Higher Education online at http://www.theloanprogram.org/.