What’s the best way to save for your children’s college educations? These articles discuss the cost of a college education, how to develop an effective college savings strategy, and how to find funding sources.
After you're done saving for college you'll likely be applying for federal financial aid. How is federal financial aid affected by scholarships, grants and other money? Federal financial aid usually includes student loans. The exact effect of scholarships and grants on student loans will depend on your educational institution.
Making student loans payments can be a challenge for new graduates. For those who are about to enter the workforce, paying back student loans could get more expensive as interest rates are about to rise. Students could consolidate now to lock in the current rates, but they would lose the grace period. Also, by paying on time or electronically, some lenders will lower the interest rate.
While most people save money in an IRA for retirement, you might be tempted to use the money for other financial needs. However, using an IRA for a down payment on a home or to pay for college is prohibited. The same goes for using an IRA to purchase property or to make mortgage payments. Check withdrawal rules first so you don't face harsh penaltie and taxes.
When you're going to college you may need to take out student loans such as federal Stafford loans. The federal government sets limits on the amount of money you can borrow each year from the Stafford program. Learn what you can do to increase the amount of loan funds you borrow for college.
A couple disagrees on how to save for there children's college education. Should they save for college using traditional methods such as CDs and stocks or the income from their rental properties? If the rental properties are an investment strategy that's working for them, it's worth sticking with.
The first step to saving money is to spend less, and that includes paying off your debt as quickly as possible. Choose the loan with the highest interest rate first and pay that off, then move to the next highest interest rate, and so on.
Each presidential administration launches new plans to help people save and invest money. The Bush administration introduced Lifetime and Retirement Savings Accounts, which were similar to Roth IRAs. Learn also about personal finance advice about saving money in 529 college savings plans.
College expenses are rising an average of 7 to 10 percent per year. At that rate, the cost of going to college could triple by the time your toddler i...
As paying for college gets more and more expensive, parents try to find new ways to invest and save money - the best being a 529 plan. 529 plans are similar to 401(k)s, except instead of retirement, you invest and save money in a 529 plan for college. Each state has its own type of 529 plan to help parents invest and save money for college.