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A Pacific Beachfront Home for as Little as $110,000

By U.S. News & World Report

Nicaragua’s Pacific coast stretches for more than 200 miles from its northernmost tip to the country’s border with Costa Rica in the south. This is one of the world’s most dramatically beautiful and varied coastlines, offering both white and black sandy beaches as well as soaring cliffs and small hidden coves surrounded by lush jungle.

There are no cities to speak of on Nicaragua’s Pacific coast, only small fishing villages, a few friendly towns and lots of open space. In addition, this coast is dotted with master planned beachfront communities undertaken mostly by American developers and built specifically for the American retiree market. These full amenity developments can be five star and impressive, but they come with price tags to match.

In addition, along this coast you find old Nicaraguan resort destinations. These are very different kinds of places, offering more low key lifestyle options. If you visit only the master planned communities, you can come away with a misimpression of what Nicaragua’s coast has to offer. Parts of it could be described as an expensive playground for American expats and retirees, but this coast has another face that is less packaged, more authentic and much more affordable that most visitors miss.

Some of the best examples of this hidden face of Nicaragua’s beautiful Pacific coast are the towns of Masachapa and nearby Pochomil. Masachapa is located where Nicaragua’s Highway 8 meets the ocean. If you head out from capital city Managua or Granada, Nicaragua’s best-known Spanish colonial town, in the direction of the beach, Masachapa lies straight ahead. Masachapa is the nearest developed seashore town to Managua, located only an hour and 20 minutes away. Managuans come for the day. The town is also host to a good number of second home owners, including a diverse mix of international residents.

Two things put this area on the map, aside from its status as a seaside destination. One is the nearby Barceló resort at Montelimar Beach, about a mile north of Masachapa. The other is the presidential seaside retreat on the beach in Pochomil. While Masachapa has a very local feel, Pochomil is more exclusive, with more character and charm and generally nicer homes. Pochomil Viejo (old Pochomil) is the most exclusive area, with only 40 homes and restricted access. It’s like a private gated community with a semi-private beach lined with open air seafood restaurants.

To keep things in perspective, remember that this is a rural area in one of the hemisphere’s poorest countries. If you’re not accustomed to life in rural Latin America, you should visit to get a firsthand impression. Masachapa and Pochomil are not good retirement choices if fine dining, upscale shopping and entertainment are priorities for you.

However, if you’re interested in retirement on the Pacific coast, this is an appealing option you’ve probably not come across. Masachapa and Pochomil offer mile after mile of wide sandy beaches bordered by warm blue waters. The people are friendly, it’s summertime year-round and Nicaragua offers the world’s most affordable retiree residency program. You can qualify with as little as $600 of pension income per month.

In addition, the cost of living in this part of Nicaragua is extremely low, as is the cost of buying an oceanfront home. You can dine on fresh caught shrimp and other seafood at a beachside restaurant for just a few dollars while watching the sunset over the water. The simple seaside charm of this coast would be hard to beat anywhere.

The cost of living and the price to purchase a beach house is surprisingly low. In one of the planned communities on this country’s coast targeting American retirees, you could easily spend a half-million dollars or more for a beachfront home. In Masachapa or Pochomil, you could own your own home on the blue Pacific for as little as $110,000. That’s the cost of a recently renovated beach house with three bedrooms, three bathrooms, maid’s quarters, a roofed terrace and a two-car garage currently on the market and being sold fully furnished. You could spend more, of course. However, the top end of this market pushes $250,000, not $1 million as in better known and better packaged locations along Nicaragua’s coast.

Masachapa and Pochomil would not be for everyone. However, for a retiree on a budget who has dreamt of the California coastal lifestyle in retirement, this undiscovered stretch of Nicaragua’s coast could fit the bill nicely.

Kathleen Peddicord is the founder of the Live and Invest Overseas publishing group .

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A Pacific Beachfront Home for as Little as $110,000 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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