How Important Are Standardized Test Scores for College Admission?

2022-01-17T13:27:01+00:00January 15, 2022|Blog, College Planning, Family Financial Information|

Institutions have long used standardized tests to measure students' competency in specific subject areas. Some of the more common areas consist of language, math, science, logic, and reasoning.  Students of all ages have come across these tests. From Common Core in elementary school to the ACT and SAT in high school, educators continuously use standardized tests to evaluate students’ intellect.  ACT and SAT scores have been synonymous with college applications for years. These tests leave [...]

5 Creative Ways to Avoid the Gift Tax (Including Paying for College)

2021-12-03T19:26:10+00:00December 15, 2021|Blog, Charitable Giving, College Planning, Taxes|

We’ve officially entered perhaps the highest spending month of the year! In fact, Christmas celebrations are expected to cost 17% more this year when compared to 2019 (you can thank COVID-19 and inflation for that lump of coal).  Despite being “the happiest time of the year,” gifters should beware of another type of Grinch, the gift tax. Giving to others doesn’t have to result in paying extra for your generosity, but how do you give [...]

Fund the Dream or the Degree? How to Balance Saving for Retirement and College

2022-01-07T13:59:40+00:00November 1, 2021|College Planning|

These days, parents have several financial concerns. Between spending on day-to-day necessities and investing for the future, balancing your financial priorities today and tomorrow can be challenging. This balance becomes even more critical when considering saving for college and retirement. Can you save for both goals at the same time? Which should you prioritize? What strategies could bring clarity, purpose, and direction to the process? Today, we’ll uncover the answers to these questions and more.  [...]

PSLF Overhaul: What You Need to Know

2021-11-10T03:36:39+00:00October 20, 2021|Blog, College Planning, Family Financial Information|

In October 2021, the US Department of Education initiated an overhaul of the existing Public Service Loan Forgiveness program (PSLF). Per the US Department of Education: “The Department estimates that the limited waiver alone will help over 550,000 borrowers who had previously consolidated their loans see their progress toward PSLF grow automatically, with the average borrower receiving 23 additional payments. This includes approximately 22,000 borrowers who will be immediately eligible to have their federal student [...]

Roth IRAs Aren’t Just for Retirement, They Can Boost Your College Fund, Too

2022-01-07T14:00:31+00:00October 15, 2021|Blog, College Planning, Family Financial Information|

A Roth IRA for college planning can be an important strategy to help foot the education bill. When you think about saving for college, what’s the first thing that comes to mind (besides worrying that you’ll have enough)? The answer is likely 529 plans, as these are the most commonly discussed vehicles concerning college savings. But there are several other options to consider, like Roth IRAs. Although Roth IRAs are primarily known for retirement savings, [...]

Student Loan Debt Just Crossed $1.7 Trillion, How To Save Your Finances From This Startling Statistic

2021-09-01T16:41:42+00:00September 15, 2021|Blog, College Planning, Investments|

Earning a degree is often part of the “American Dream,” making it an accomplishment worth working toward. And while graduating from college is a collective dream, the cost of obtaining it can be somewhat of a nightmare. On average, earning an undergraduate degree results in about $36,510 in student loan debt. For those earning a master’s? That number nearly doubles to $71,318 (according to educationdata.org).  Keep in mind that the type of degree one earns [...]

4 Top Money Boundaries To Set With Your College-Bound Teen

2021-07-31T01:21:40+00:00August 1, 2021|Blog, College Planning, Family Financial Information, Financial Roadblocks|

As a parent of a college-bound teenager, you likely have a lot on your mind. How will they adjust to campus life? Will they find something they are passionate about? How much will it all cost? College doesn’t come cheap, and it isn’t just the University bill you have to worry about. You certainly want to avoid college credit cards gone wild. While you can’t be there at checkout with them, you could do something [...]

College Costs How Much? Why School Is So Expensive and Tips To Save Better

2021-07-31T01:08:55+00:00July 15, 2021|529 Savings Plan, Blog, College Planning, Family Financial Information|

As many of you probably already know, the average cost of college in the United States has skyrocketed over the last couple of decades. In a 20-year time frame (according to educationdata.org), the average price per year has tripled and is now roughly $35,720. That is $142,880 for a 4-year degree!   Why have college costs ballooned so much? What can parents and students do to prepare for this financial burden? College Tuition Is On The [...]

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