Changes to repayment rules for Federal student loans offers borrowers flexibility to manage their debts, as outlined in a recent New York Times article. However, not only do the recent changes provide assistance for current borrowers, potential student loan borrowers can plan ahead. Our recommendations are outlined, alongside excerpts of the article in italics. Rising…
Tag: Plan
Paying for Childhood: Average Cost of Raising Children
Wondering how your parents were able to raise multiple kids (and none of you felt deprived) on a single income back in the day? A new report by the U.S. Department of Agriculture estimates families with children born in 2012 will spend an average of $241,080 in the next 18 years to raise their offspring–NOT…
Guest Post: The Savings for College Challenge, Part Three – How Much to Save in a 529
About the authors: For over 25 years, Cynthia S. Meyers, CFP®, MBA, has assisted people with their Lifetime Financial Planning–helping to build and preserve wealth in every area of life. Jenny Hood, CFP® has been a paraplanner with Cynthia S. Meyers for five years and enjoys being a part of the financial planning process. _____________…
Financial Aid Reality Check (That Won’t Cost Your Checkbook)
We’re hearing from parents of seniors, who’re looking through their check registers and not seeing $30,000 to $60,000 available for next year’s college expenses, nor in their savings or investments. Actually, we’re hearing from parents of juniors, parents of sophomores, parents of freshmen and parents of pre-schoolers about the continued rise in costs and…
Potential Can Be Nurtured with Effort: More about College Selection
“Doing your homework” when it comes to choosing colleges is essential. A former client and current college freshman’s mom, recently shared her experience how to do that “homework” and how pleased she is with the family’s final choice for her son–UC Santa Cruz. Her son is growing, even in an unexpected triple roommate situation, and…
Thinking Outside the Box to Pay for College
What are you willing to risk to pay for college? Would you seriously consider these alternative methods of paying for college? If it sounds too good to be true, definitely take a second (or a third) look. From the Wall Street Journal, 7/31/2012
Location, Location, Location: Keystone to College Selection
To tour or not to tour? What activities should be arranged when visiting colleges and new cities? These questions and more are answered by Art Baird & Julie Nguyen, Creative Marbles CEO & CFO respectively, in the following podcast, after their return from visiting Chicago area universities. For more information, listen to our previous podcast.
Guest Post: Parent to Parent Advice about College Applications
Norman’s daughter will be starting her Freshman year at the University of Washington in Fall 2012. He offers the following perspective, having just completing the college application process: _________________________ Applying for college is an exciting time for every family. It represents all the hopes and dreams that your student has had since he or she…
Before Choosing Transfer Admissions…
The Community College Transfer option to a 4 Year College, while seeming to save money in the short term, can include other costs. Currently, community colleges in California are challenged to service their students, given the budget reductions from the state. At the same time demand is rising for space in California community colleges–300,000 students…
“Hidden in Plain Sight” Costs of College
Healthcare is one of those “in plain sight, but not at the top of the list of expenses, yet can be significant in the college budget.” Many colleges require students to be covered by health insurance–either their parents’ policy or an individual policy bought through the university. The recent confirmation of the Healthcare Law by…
Prudent Fiscal Planning (Part 4): To Save, Or Not To Save That Is The Question
Previous posts in this series on prudent fiscal planning, focused on the need for fiscal planning, as well as both the income and expense elements of the profit and loss (income and expense) statement. Today, we will look at net income–which is the total after subtracting expenses from income in any given period–and, yes, it…
College Grads Face Difficult Job Market
Recent college grads continue to face what may be one of the most difficult job markets since the 1930’s. Not only is the job market grim for college grads, but many also begin their job search weighed down by student loan debt that cannot be forgiven, postponed indefinitely (nor done so for free).
Financial Aid 101: Are You Financially Literate?
Paying for college seems out of the ordinary, given the total amount, which creates the “wake-me-up-from-a-dead-sleep-gasping-for-air” feeling. However, with some foresight, families can approach college expenses together and with less nervousness. Art Baird, Creative Marbles CEO and financial aid expert, and Jill Yoshikawa, Partner of the Educational Division at Creative Marbles, recorded a recent conversation…
Prudent Fiscal Planning (Part 3):You can’t always get what you want
In the third part of my ongoing series on Prudent Fiscal Planning, let’s discuss the often bugaboo topic of expenses. After following the suggestions from the last article in the series, you should now have drafted at least your income scenarios for the short, immediate, and long term. Now, you are ready to look at the other…
Prudent Fiscal Planning (Part 2): Income’s importance in Fiscal Planning and its Effect on Our Standard of Living
In the first post of the series, I discussed the need for prudent fiscal planning in these difficult economic times. Although it may seem that the economy has turned the corner from the most recent, yet severe economic downturn (recession), there are many storm clouds looming on the global economic horizon that could have a…