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By The College Investor
4.4
4242 ratings
The podcast currently has 1,446 episodes available.
I was recently asked a question by a reader about the drawbacks of getting a private student loan.
She asked why she shouldn’t get a private student loan, when interest rates are so low right now. She would need to cosign with her daughter on the loan in order to get the best rate.
My advice was as follows: the biggest danger of a private student loan is that the cosigner is also liable for the debt. So, should something happen to her daughter, and she can’t graduate and earn income, she will be on the hook for the debt.
However, there are options to protect parents when it comes to paying their children’s tuition – tuition insurance.
Below, we’re giving you our best insights into tuition insurance and sharing our top picks for tuition insurance providers.
Let's talk about $10,000... how to get there and make it happen. Why $10,000? Because it's a number that's big enough to make a difference, but small enough to be achievable by most people who set out for it. And there are some crazy ways to make $10,000, so this will also be pretty fun!
We recently discussed how to pay down $10,000 in debt in just one year. One of the strategies is to earn more money - but many people don't think they can earn $10,000 extra in just one year.
Today, I'm going to show you some of the more unique ways that you can do it.
In reality, there are countless ways to earn $10,000 more in a year. That breaks down to just $833.33 per month. If you don't like these more extreme ideas, here's a list of 50 ways you can do it more of "the old fashioned" way.
Believe it or not, these have happened. And people can make good money doing it.
If you’re listening to this, you probably either have student loan debt or you’re about to incur student loan debt and you're looking for ways to minimize your student loans.
With student loan debt balances on the rise, your best bet is to pay off your student loan debt as quickly as possible, or better yet, stop the debt from piling up by taking the preventative measures.
Many graduates have to put their life on hold because of common student loan mistakes. Avoid making these mistakes and get rid of your student loans in 3 easy steps!
According to USA Today, up to 68% of college graduates enter the workforce with student loan debt. Our study found that the average student loan debt at graduation is roughly $30,000.
To minimize the impact, follow these 3 simple steps to avoid unnecessary debt from accumulating.
With college costs and student debt on the rise, students and their parents need to think about ways to cut the overall cost of higher education.
Even if a student wants to attend a four-year university, starting at a two-year university can conservatively lead to five-figure savings. Students who decide against earning a bachelor’s degree can gain a credential (associate’s degree) while spending less time and money than they would in a traditional public university.
Whether a student’s goal is to start a career as soon as possible or to earn a bachelor’s degree and beyond, using community college to save money and get ahead can be a smart move. In fact, attending a two-year college may be the most broadly-accessible method to reduce costs while still getting a head start on education.
Today's episode is an interview Robert had with Chuck Jaffee from the Money Life Show. He helps answer a reader question: what happens if you have money saved for college in a 529 plan, but then your child (or niece or nephew) don't actually go to college. What are the options? If you're starting from scratch, should you still consider a 529 plan?
We hope you enjoy the episode, and if you want to learn more about the Money Life Show, check them out on your favorite podcast platform.
Did you know that your student loans could get you fired?
Imagine this: One day your boss pulls you into his office, sits you down, and says there is a problem. However, your work itself has been flawless. But he doesn't want to talk to you about work — he wants to talk to you about your credit report.
You see, when you were hired, you agreed to let your employer run your credit report (maybe unknowingly, simply signing a form in your hiring packet). And now, for whatever reason, your boss lets you know that HR has concerns about your debt. Suddenly, you go from star employee to looking for a job.
You already know that student loans suck. It's a fact of life. But did you know that your student loan debt can get you fired? It's happened, and here are eight reasons why, and what you can do to prevent it.
A FERPA waiver, when signed by a student, allows parents to gain access to academic records during college. However, this raises an interesting question: should parents push their college-bound children to sign?
Many parents, accustomed to having access to their child’s academic records throughout high school, are surprised when they no longer have the same access once their child enters college. As a result, some parents may consider requesting – or even pressuring – their child to sign a FERPA waiver. But is this a good idea?
We’ll explore the nuances of FERPA, the implications of signing a waiver, and the potential consequences of forcing a college student to comply.
One of the biggest fears families have about using a 529 plan to save for college is the dreaded 529 plan penalty.
There are many ways to save and pay for college, and the absolute best way to do it varies depending on your specific situation. A 529 plan, which is designed to help you with higher education expenses, is a type of tax-advantaged account that allows you to save and invest money.
As long as you withdraw that money for qualified expenses, you can do so without paying taxes on it. However, if you don't use the funds in your 529 plan for qualified education expenses, you may be assessed a tax penalty.
Thankfully, it's fairly straightforward to avoid this 529 plan penalty, as long as you take a few precautionary steps.
What is a grandparent-owned 529 college savings plan? How do they work? What do you need to know about them and what changes should you know about?
A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary.
Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no limit on the type of 529 plan where grandparents can make contributions. Grandparents can contribute to grandparent-owned 529 plans, custodial 529 plans, and parent-owned 529 plans.
Keep in mind that grandparent-owned 529 plans have a different impact on eligibility for need-based financial aid than parent-owned 529 plans. Here's what you need to know if you're interested in a grandparent-owned 520 plan.
Low-income students are half as likely to enroll in selective colleges as compared with high-income students with similar grades and test scores. This is called undermatching.
These students are often academically talented and likely to be admitted.¹ ² Still, many end up at less-selective colleges, such as lower-cost public colleges and community colleges. Some don’t enroll in any college at all.
Public policy advocates have claimed that very selective colleges are more affordable for low-income students, despite the higher cost of attendance. For example, Matthew M. Chingos wrote in a Brookings Institution article, “For low-income students, these colleges will generally cost them and their families less than a less-selective institution with a lower sticker price but fewer resources for financial aid.”
But is this true? Does generous financial aid really make selective colleges more affordable than lower-cost colleges? Or are selective colleges just trying to shift blame for their failure to enroll more low-income students? Below, we take a deep dive into the data to answer those questions.
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