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10 Affordable Places to Retire Overseas in 2016

By U.S. News & World Report

Global bargains

Moving overseas gives you an opportunity to reinvent your life in retirement. In many places you will also be able to significantly reduce your cost of living. A small nest egg will provide a high quality of life in these overseas retirement havens.

Abruzzo, Italy

Abruzzo it known for its golden beaches and panoramic views of the sea. The nearby mountains offer scenic beauty as well as skiing in the winter. The castles, vineyards and villages made of stone allow you to imagine you are transported to another era. The delightful recreation options and beautiful scenery are available at bargain prices.

Algarve, Portugal

The cost of living in Portugal is among the lowest in Western Europe. Algarve has affordable real estate, reliably sunny weather and some of Europe’s best-kept sandy beaches. A move here will be made easier by the established expat community, low-cost retiree residency program and significant English-speaking population.

Cayo, Belize

Belize is a sunny country that’s easily accessible from the U.S. and the folks all speak English. However, this is a small country where the infrastructure is developing. The cost of living is affordable if you buy locally, but you may need to pay inflated prices to purchase the same goods you enjoyed at home.

Chiang Mai, Thailand

Thailand’s scenic beauty ranges from beaches to lush mountains and jungles. The laid-back culture and modern infrastructure have attracted tens of thousands of foreigners to the country. Chiang Mai couples a low cost of living with great weather. The high-quality health care and abundance of Western amenities are also big pluses for foreign retirees.

City Beaches, Panama

Panama’s most convenient and comfortable stretch of Pacific coastline is known as its “City Beaches” area, thanks to the proximity to Panama City. The most developed community is Coronado, about two hours from Panama City. This fast-growing coastal region offers a high-quality beach lifestyle with all the amenities and services you could want. The country uses the U.S. dollar for its currency, so there’s no currency exchange risk to worry about.

George Town, Malaysia

Historic George Town began as a British colonial outpost and maintains its colonial flavor. The low cost of living is a big part of George Town’s appeal. Public transportation is modern and efficient, health care is first-rate and the tap water is safe to drink. You can also escape the city at nearby beaches and mountain retreats.

Granada, Nicaragua

Granada is among the most carefully restored and preserved colonial cities in the Americas. This city of 120,000 has a sizable expat community and attracts many international travelers with its upscale hotels, fine restaurants and well-kept buildings. There’s a great variety of classic and charming Spanish-colonial homes with high ceilings, painted tiles and private courtyards that you can own for as little as $40,000.

Las Terrenas, Dominican Republic

The Dominican Republic is among the most affordable spots in the Caribbean. It’s a place where you could retire near the beach even if your retirement nest egg is nothing more than a monthly Social Security check. Las Terrenas is a vibrant international community with residents from all over the globe and a well-established community for expats.

Pau, France

Retirees who dream of Paris but can’t afford it should consider Pau. The Basque people have their own language, music and cuisine, and all the houses are painted white with accents of Basque red. The geography of the area ranges from rolling hills to towering mountains, and the shallow water of the bay gives rise to a spectacular surf.

Puerto Vallarta, Mexico

Mexico is home to the biggest established population of American expats in the world, making it a great choice if you seek adventure with the comforts of home. Mexico is no longer cheap, but it does provide a luxurious coastal lifestyle to retirees on a budget in Puerto Vallarta, including amenities like golf courses, marinas, restaurants and shopping. This is a lifestyle that is comparable to what you could enjoy in Southern California, if you could afford to live there.

More from U.S. News

10 Best Places to Retire on Less Than $100 a Day

50 Affordable Places to Buy a Retirement Home

How to Prepare for Retirement Overseas

10 Affordable Places to Retire Overseas in 2016 originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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