I’ve always been a big fan of life-long learning.  Recently, I found myself looking for a tutorial on statistics when I stumbled upon MIT’s OpenCourseWare (OCW).  In a nutshell, OCW represents nearly all of the course materials used by MIT in their classes; and it’s all available online for free.

Topics covered include everything from Engineering to Business to Humanities.  Popular courses include Physics, Linear Algebra, Biology, Microeconomics, and Chinese.  They don’t offer degrees or certificates, but if you’re looking for an opportunity to learn for personal enrichment, then check it out!

State-sponsored 529 programs are regarded by many as the best way to save for college.  With 529 plans, college savings grow tax-deferred and many states offer tax breaks for families who participate in them.  In addition, 529 withdrawals are tax exempt if the proceeds are used for qualified educational expenses.

Up until recently, the challenge with 529 plans was that it was difficult to contibute to them if you weren’t the owner, making contributions by grandparents and others painful at best. 

Upromise is changing that with their Ugift Program.  It provides a mechanism whereby 529 account owners can request contributions in lieu of traditional gifts for events such as birthdays and Christmas.

Sound interesting?  You can read more about the Ugift program here.

• Textbook Rental – Instead of purchasing a book that you will use for a semester or two and then selling it back for a fraction of what you paid, Chegg and BookRenter.com provide books on rental-basis.  The services claim that you can save 75-80% off of the cost of purchasing textbooks.
• Look for Paperbook or International Editions – Some publishes create paperback and/or international editions that are essentially the same as the hardback version, but are less expensive. 
• Search for the Lowest Price – In addition to large book sites like Amazon, Half.com, and Alibris.com; check meta-search sites such as BigWords and CampusI.com.  These meta-search engines hit multiple sites simultaneously and can help you quickly identify low-price options.
• See About Using Earlier Editions – Often, the changes between editions are minor.  If the textbook you need is unusually expensive or is difficult to find, then ask your professor if it is okay to use a previous edition.
• Check Your Library – Frequently, college libraries keep current copies of textbooks available for short-term loan.  If a textbook is going to be used infrequently, then check with your library to see if it can be reserved when you need it.
• Check University Forums – If your school has online forums or a place where goods can be posted for sale, then check and see if the textbooks you need are available for purchase.  By negotiating a private-party sale or trade, you can cut out the middle-man and potentially get a very good deal.
• Time Your Sales – Frequently, you can make the most money by selling your textbooks on your own.  If you choose to do so, then you can maximize the number of potential buyers by selling your books when it’s top of mind for them.  Therefore, consider selling just prior to the start of the semester.

They say that the best way to learn a foreign language is to immerse yourself in the language and culture, although it is not always practical to do so.  Livemocha has launched a free website that combines self-paced lessons, interactive tools and a social environment that allows you to practice your skills on other users from around the world.

Livemocha currently has 160 hours of instructional content online that enables you to learn French, Hindi, German, Spanish, English, and Mandarin Chinese.  In addition, the site currently has a social community of over 300,000 members from more than 200 countries.

Site:  Livemocha

With the rate cuts that went into effect on July 1st, individuals who hold certain types of Stafford loans saw their effective interest rates drop to the lowest level ever seen during the history of the program.

Individuals who hold variable rate loans saw their rates drop the most, due to the cuts by the Fed over the last year.  The rates on those loans fell from 7.21% to 4.21%.  Students who are still in school saw their rates fall to 3.61%.

The reduction is part of the College Cost Reduction and Access Act of 2007, which calls for incremental reductions each July 1st until 2012.  Currently, it is anticipated that rates will revert back to 6.8% at that time, unless new legislation is passed to keep the rate reductions in place.