College costs have risen to the point of no return. Top public universities are now $35,000 a year, and many private colleges are over $70,000. That’s $280,000 for a four-year education, which for a 45-year-old parent equates to almost $750,000 in retirement money by age 65. And that’s for one child’s education. When we demonstrate these numbers in our college funding workshops, it changes the mindset of the audience. Half-curious attendees now become engaged. Many of these attendees ar....
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A study by the U.S. Federal Reserve found that half of the people under 30 with bachelor's degrees wonder if the money they spent on college was worth it. It’s a stunning finding in the Report on the Economic Well-Being of U.S. Households in 2017. Although the unemployment rate among young college graduates has fallen to pre-recession levels at 5.3 percent, it is still higher than the 4.3 percent rate of 2000. And even though unemployment has declined for these young college graduates, the....
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If you are employed full-time by a government or not-for-profit organization, you may be able to receive loan forgiveness after making 120 qualifying payments (10 years), thanks to the Public Service Loan Forgiveness (PSLF) Program. But loan forgiveness is not automatic. There are a number of specific requirements you must meet. If you want to make sure you’re on the right track, avoid these common mistakes: 1. Not submitting an Employment Certification Form each year Submitting an Empl....
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Can the student loan situation get any worse? For starters, student loan debt just hit $1.5 trillion. According to federalreserve.gov, we achieved this milestone during the first quarter of 2018. It appears that outstanding student debt now exceeds auto loan debt ($1.1 trillion) and credit card debt ($977 billion). Today, Americans are more burdened by student loan debt than ever. About four in 10 people who’ve gone to college have taken out loans to pay for school. Here are some other surpri....
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