Soon (if not already) you’ll know if your child is one of the anointed ones. Early decisions from college applications have pretty much rolled in by now, and while the regular decisions are still sweating it out (or hoping for better), parents are busy filling out those college aid applications. It’s really crazy that you have to file aid applications without knowing whether your child is in or not, but I suppose the colleges could argue that you need an aid offer to know whether you’re going to accept their admissions offer. I’ve discussed aid qualifying in other posts on …Read More
Open any newspaper or visit any financial website and you only need about 10 seconds to find a story about students with massive education debt. Do you wonder how this happens? I think I can answer that, and also offer a smart technique I just learned from a client. First, let’s look at some of the ways you (or your child) can rack up a huge bill, with an eye to AVOIDING these “techniques”.
- Choose a dumb major. I’m all for a liberal arts education. I do not think undergraduate work should be trade school. So if you want to
Most all college students are back on campus by this point but the benefits that you can receive from various tax credits will not become apparent until you pay your taxes next year. It’s important to know what tax credits you may be eligible for early on, so that you keep good records as you pay these college expenses. Recently the IRS published their Summertime Tax Tip 2012 – 25 which details tips for students and parents paying college expenses. The actual text of this tip is listed below.
Whether you’re a recent high school graduate going to college for …Read More
2/3rds of college students graduate with student loan debt. On average, graduates have about $24,000 in debt, with 10% of graduates having over $45,000 in debt. And those are just the statistics for students with a 4 year degree. Student loan debt is at an all time high, and very well may continue to rise with the increases in college costs. How should workers with student loans decide between paying down their debt while still saving for the future?
Track your spending: If you frequent this blog, you know I am passionate about the benefits of tracking your …Read More
It’s that time of year—that time of year when parents of college bound seniors get to sign up for the monthly payment plan. That time when you look at your kid and ask yourself whether it really is worth it to pay someone $56,000 to take them off your hands. Just kidding. But another question does arise—how much, if anything, should Jason or Jennifer be expected to pay?
Easy answer, huh? As much as possible! But what is really possible, in this economy? Herewith I share with you a view from the trenches, highly personal but with applicability to many …Read More