The lowest price does not always mean the greatest value. This is equally true for cars, food, houses, and education. Community colleges, distance learning programs, and trade schools can all offer very low prices for classes and books, but is it really worth what you are paying? A fair price for a good product or service is what gives something real value.
College and Education
As sequestration takes effect, some students may be wondering how this will affect the federal aid they receive. With a tight job market and an exceptionally high unemployment rate for new college graduates, paying off college loans seems almost impossible. A lost of students rely on federal loans and grants to finance their education. Will the new rules of sequestration keep pupils from graduating, or even prevent them from going to college at all? (more…)
Getting an education can be difficult and expensive, but a degree is essential to landing a great paying job. You’ll need it, too, since getting an education can leave you with a huge amount of debt. Even if you avoid private student loans, which are harder to repay since the terms of repayment are not as flexible as federal student loans, you may still wind up with a whopping pile of debt after you’ve finished your degree. As new college students take a critical view of college costs versus return on investment, the federal government is stepping forward to help fund their educations with a new “Pay as You Earn” program. (more…)
There’s no question that a degree is the bare minimum a person needs to get into a decent job, but some of those degrees come with hefty price tags that parents end up paying. How do you know whether you are making a good investment in your child’s future instead of risking your own retirement and happiness later on? Some debt is good debt, but not all school debt, whether it leads to a degree or not, is good debt. Here are a few things you might not have considered when faced with easy money for you children’s education, but that come with strings attached. (more…)
It’s back-to-school season, and along with the excitement at having the kids out of the house comes the dreaded demands for designer back-to-school wear. Let’s face it, kids don’t have a clue how hard it is to earn that money that they believe should be used to get the latest electronic, shoes, or accessories just so they can keep up with their peers. Parents often capitulate to these demands because they want their children to be happy, but it comes at a cost: Your and their future indebtedness. Putting some saving strategies in place now, can help you to model behaviors that can build sound financial muscles in your teenagers that will last a whole lot longer than that Smartphone and pay them back more. (more…)
Student loan debt is a big issue in our country, with government even getting into the mess. Lenders also understand the grave consequences of large amounts of student debt and how it can stifle growth. Students who need an education have to pay for it in the United States, and it can come with one hefty price tag. Many students don’t even have a credit history, so can’t qualify for some loans, while others may have no idea what a reasonable debt load is and how much they will have to pay upon graduation. To fix some of the problems with student lending, lenders are now looking to education to help students who are new to financial planning learn the ins and outs of student loans before they get into trouble. (more…)
It’s a long haul to get that diploma, but not soon after the celebration new grads are faced with new financial dilemmas that need careful planning. School loans can come due, health insurance benefits may or may not need changing, and in today’s economy a job may not there immediately to save the day. Careful financial planning is in order to keep your spirits high until you can land your first big gig. (more…)
One of the biggest financial worries that plague parents across the land is college tuition. You know it’s coming the first time you see those two pink lines, and it’s reiterated during the first ultrasound. By the time your little one hits high school, it’s all you can think about.
There are so many costs associated with college, it can be a financially stressful time for many parents and their children. Students seldom realize how much money they need to spend until they begin moving out of home and into a dorm or apartment. Students should realize that not only are they going to need to pay for books and tuition, but for the costs of daily living as well. Luckily, there are several options available to fund their new college life.
College is very expensive and while we can take loans, it is sometimes in the best interest of parents to start saving for their children early on in their lives, but not to overdo it to the point of having to turn to payday loans to live. If we start a modest savings plan early in a child’s life, we can save enough to make sure that the high costs of college are covered. Sometimes it is hard to truly estimate how much we will need for our children when they decide to go to college. We can use calculators to estimate the amount we will need, but it is often best to have our financial advisor help us make the determination. They can often estimate the cost of college for our young children using average inflation rates, current costs and the age of our children to make a good determination about our goals for monthly and yearly savings. Every month, parents should be placing a small percentage of their income in a 529 college savings plan for each child they have to ensure that they are covered and that their education is paid for without them having to resort to loans of any kind.