Education Planning
Take Charge of Your Student Debt Repayment Plan
Outstanding student loan debt in the United States has tripled over the last decade, surpassing both auto and credit card debt to take second place behind housing debt as the most common type of household debt.1 Today, more than 44 million Americans collectively owe more than $1.4 trillion in student debt.2 Here are some strategies […]
A Parent-Child Conversation About College Costs
If you’re the parent of a high school student who’s looking ahead to college, it’s important to have a grown-up conversation with your child about college costs. A frank discussion can help both of you get on the same page, optimize the college search process, and avoid getting blindsided by large college bills.
An Initial Conversation: […]
The College Landscape After Tax Reform
College students and their parents dodged a major bullet with the Tax Cuts and Jobs Act of 2017. Initial drafts of the bill included the elimination of Coverdell Education Savings Accounts, the Lifetime Learning Credit, and the student loan interest deduction, along with the taxation of tuition waivers, which are used primarily by graduate students […]
College Saving: How Does a 529 Compare to a Roth IRA?
529 plans were created 22 years ago, in 1996, to give people a tax-advantaged way to save for college. Roth IRAs were created a year later, in 1997, to give people a tax-advantaged way to save for retirement. But a funny thing happened along the way — some parents adapted the Roth IRA as a […]
How Can My Employer Help Pay For My Education?
Are you planning to go back to school but not sure how you’ll pay for it? If you’re currently employed, a good starting point is to find out whether any employer-provided education benefits are available to you.
Tuition reimbursement benefits vary depending on the company. Some employers might cover the full cost of tuition, whereas others […]
How can families trim college costs?
Trimming college costs up front can help families avoid excessive college borrowing and the burdensome student loan payments that come with it. Here are some ideas.
1. Pick a college with a lower net price. You can use a college’s net price calculator (available on every college’s website) to estimate what your net price (out-of-pocket cost) will […]
How much money should a family borrow for college?
There is no magic formula to determine how much you or your child should borrow to pay for college. But there is such a thing as borrowing too much. How much is too much? Well, one guideline for students is to borrow no more than their expected first-year starting salary after college, which, in turn, […]
Understanding Financial Aid
Over the years, I have developed a network of other fiduciary financial planners. From time to time, I invite one of these individuals to contribute an article of interest. Today, Ann Garcia of Independent Progressive Advisors shares her thoughts about “Understanding Financial Aid” Ann is a financial advisor in Portland, OR.
Understanding Financial […]
Mistakes to Avoid When Reporting Plan 529
If at any time you withdrew money from your 529 college-savings plan during 2015, then you will have received Form 1099-Q for tax reporting purposes. Here are 6 mistakes you (or your tax professional) want to avoid during the process:
Four Ways To Get The Best Financial Aid Package
It is without a doubt that pursuing higher education is expensive. If you are paying for school by yourself, or you’re trying to find a way to pay your college student’s education then these four tips will be sure to help you.
