Inheritance: Refinance Parent's Investment House with Kid's Inheritance?
I got a call at the top of the show from a woman who wondered if she should use the $70,000 her kids inherited to pay off her investment property. She'd create a 15-year mortgage and would pay her kids back monthly for 15 years. She figures it's better to pay back her kids at a guaranteed rate of…
Georgia 529 College Savings Plan Tax Question
This morning on the show, John asked whether a married couple could open up multiple 529 college savings plans for a single child and take several $2,000 deductions on their Georgia state taxes.
The answer is no. Married couples are limited to one $2,000 deduction per beneficiary. But John's parents…
Top 10 Best Cities For New College Grads
As someone whose student loan repayments just started I can understand the dilemma facing many new college grads. How can you balance a good quality of life with repaying your bills? Or how can you live in the big city on a very small income?
A new survey may help a little bit. Apartments.com and…
Real Estate Today With Tom Kelly
After my show was over, I jumped on the telephone to dial into my friend Tom Kelly's radio show, which airs in over 400 markets out of Seattle. We were talking about sending kids to college and I wanted to offer up a few of my favorite links.
The best website by far is www.ed.gov, which is the…
My sons, Alex and Michael, have been saving money since they were born. Alex is a born saver. That is, he really gets that it's about the long-term and that if he saves today, he'll have it tomorrow in spades. And, as long as he can get books he wants from the library (or convince Grandma or us to…
If you're looking for a scholarship, check out www.fastweb.com or www.finaid.org. Do not fall for what the College Board and FTC call "Scholarship Scams." For information, check out www.collegeboard.com.
July 20, 2006
If you're looking to consolidate before July 1st, you might find these websites to be helpful:
National Student Loan Data System www.nslds.ed.gov
Simple Tuition Inc. www.consolidationcomparison.com
Salle Mae www.salliemae.com
Student Loan Corp www.collegeloancorp.com
If you want to add to the list, you…
On the show this morning, I talked about the National Association of Realtors 2006 Home Buyer and Seller Study results that show sellers who use a real estate agent (preferably a Realtor) sell their home for 16 percent more than those who sell by owner (also known as FSBOs, or For Sale By Owner). Go…
