Saving for Retirement and your Child’s Education

Estimated Read Time: 5 minutes You want to retire comfortably when the time comes. You also want to help your child go to college. So how do you juggle the two? The truth is, saving for both your retirement and your child’s education at the same time can be a challenge. But take heart — you may be able to reach both goals if you start making some smart choices now. The key takeaways are: Determining your financial needs? To understand your financial needs for

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529 Plans: How They Could Affect Financial Aid Eligibility

Estimated Read Time: 4 minutes As the last blog highlighted, the financial aid process is all about assessing what a family can afford to pay for college and trying to fill the gap. To do this, the federal government and colleges examine a family’s income and assets to determine how much a family should be expected to contribute before receiving financial aid, which is often much more than a family can actually afford. Financial aid formulas weigh assets differently, depending on whether they are owned

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ABCs of Financial Aid

Estimated Read Time: 6 minutes It’s hard to talk about college without mentioning financial aid. Yet this pairing isn’t a marriage of love, but one of necessity. In many cases, financial aid may be the deciding factor in whether your child attends the college of his or her choice. That’s why it’s important to develop a basic understanding of financial aid before your child applies to college. Without such knowledge, you may have trouble understanding the process of aid determination, filling out the proper aid

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Saving for College

Estimated Read Time: 6 minutes The thought of where and when to start saving for your child’s future can be an overwhelming task for many parents, but you need not worry. In this blog, I will discuss the rising cost of college, the importance of saving now, and options for saving for college. There’s no denying the benefits of a college education: the ability to compete in today’s job market, increased earning power, and expanded horizons. Even who your child is likely to choose as

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The Student Loan Relief Plan: Unpacking Student Loan Forgiveness for 2022

Estimated read time: 4 minutes The long-anticipated Student Loan Relief plan was announced by the Biden administration on August 24th in response to skyrocketing college tuition costs over the last several decades. In fact, since 1980 total cost of four-year college tuition has nearly tripled after accounting for inflation. By contrast Pell Grants that once covered 80 percent of those costs now cover roughly ⅓ of college tuition costs. This forced students into debt with the typical undergraduate student holding $25,000 in student loan debt.

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