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MoneyTips

College can be a great adventure in scholarship and life for many young people. But when it comes to managing a budget, it can be a sobering learning experience in how quickly their money can disappear.

Even worse, six months after a student graduates, when he or she gets their loan payment schedule, they will receive a major reality check on how they were able to accumulate such a large debt with interest in just a few short years. According to Forbes, there are currently 45 million Americans who each owe an average of5 Tips For Saving Money In College

6 College-Bound Money Moves

Money-Saving Tips for College Students II

MoneyTips

College can be a great adventure in scholarship and life for many young people. But when it comes to managing a budget, it can be a sobering learning experience in how quickly their money can disappear.

Even worse, six months after a student graduates, when he or she gets their loan payment schedule, they will receive a major reality check on how they were able to accumulate such a large debt with interest in just a few short years. According to Forbes, there are currently 45 million Americans who each owe an average of5 Tips For Saving Money In College

6 College-Bound Money Moves

Money-Saving Tips for College Students II

Prior to the Covid-19 pandemic, Hispanic and Latino students were enrolling in college at record numbers. From 2000 to 2016, Latino 18- to 24-year-olds’ college enrollment rate grew from 22% to 39%, according to a 2019 report from UnidosUS, an advocacy group. Latino high school and college students were significantly impacted by the pandemic, however, […]

Pride Month is a time to recognize and lift up the LGTBQ community. And one of the best ways to support a community is by helping to fund its members’ education to have an equal chance at succeeding in their careers. We’ll walk you through some of the top college scholarships for the LGTBQ community. […]

Living abroad has plenty of benefits: the chance to lower your cost of living, learn a new language and immerse yourself in a new culture. If you have student loans, though, that’s one thing you can’t get rid of. You’re still on the hook for paying off your student loans no matter where you live. […]

MoneyTips

Even though retiring is the furthest thing from the minds of most twenty-somethings, you need to invest sooner, rather than later for one reason – you have an advantage over everyone else: time. Time to let your money grow exponentially. There is a reason Albert Einstein is credited with calling compound interest "the 8th wonder of the world." It can work either for you or against you. Those who understand it, earn it. Those who don't, pay it. Let me elaborate.

To understand truly how time affects money, let's look at Einstein's Rule of 72. This rule shows how long it will take to double your money, based on an anticipated interest rate. It's really easy to figure out and super-important to understand. In my opinion, it's one of the most important things to learn and apply throughout your life. For example, if you were to earn a 4% return on your money, it would take 18 years to d...

Why Your Children Need Their Own Roth IRA Now

Baby Boomers Not Ready For Retirement

10 Ways To Increase Your 401(k)

MoneyTips

Even though retiring is the furthest thing from the minds of most twenty-somethings, you need to invest sooner, rather than later for one reason – you have an advantage over everyone else: time. Time to let your money grow exponentially. There is a reason Albert Einstein is credited with calling compound interest "the 8th wonder of the world." It can work either for you or against you. Those who understand it, earn it. Those who don't, pay it. Let me elaborate.

To understand truly how time affects money, let's look at Einstein's Rule of 72. This rule shows how long it will take to double your money, based on an anticipated interest rate. It's really easy to figure out and super-important to understand. In my opinion, it's one of the most important things to learn and apply throughout your life. For example, if you were to earn a 4% return on your money, it would take 18 years to d...

Why Your Children Need Their Own Roth IRA Now

Baby Boomers Not Ready For Retirement

10 Ways To Increase Your 401(k)

Transferring from one college to another isn’t always the most seamless experience. Making sure your new school accepts your credits, adjusting your course load and possibly moving to a new campus can be difficult. How you pay for school is an extra layer of stress, which is why you’ll need to add managing your student […]

Having to leave school before finishing your degree is common.  Especially during the coronavirus pandemic, more students may have left school to help their families or to start working and earning money. Your student loans stay with you even if you leave school, and your loans will enter repayment. While they can’t be erased, student […]

The financial fallout from a divorce often catches people by surprise. When you’re going through an emotionally difficult life experience, money matters may take a back seat until the dust settles. But addressing financial issues early on will make the transition easier. That’s why, if you or your spouse have student loans, you should understand […]

There’s nothing wrong with asking for help when you’re in need, and you might be surprised by just how willing people are to lend a hand. In fact, research shows that helping others is one of the best ways to improve your own happiness. So why not use crowdfunding to ask for help with your […]

One way the U.S. government has issued student loans is through the Federal Family Education Loan Program (FFELP). While the program ended in 2010, there are still many borrowers with FFELP loans. As of the end of 2020—the most recently available data—11 million people had outstanding FFELP loans, with balances totaling over $245 billion. If […]

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In a country where it’s common to have tens of thousands of dollars in student loan debt, getting a college education for free is a radical idea. Unless a full scholarship is on the table, most people may not consider it an option to go to college for free. But there are multiple ways to […]

If you’re graduating from high school this year but don’t feel like now is the right time to start college, you’re part of a growing trend. The Higher Education Research Institute reported that approximately 3% of all high school graduates take a year off from school before attending college, based on a 2018 survey. During […]

As bewildered families search for ways to save for their children’s growing college costs, 529 college savings plans—tax-advantaged investment accounts specifically for education expenses—are looking more attractive than ever. Over the course of 2020, after an initial decline and dramatic recovery in the stock and bond markets, total assets in 529 plans increased 18% to a new record high of $394 billion, according to a new report from Morningstar. The average plan balance also reached a high of $28,679 in December 2020, after the average account balance grew 10% in 2020, according to the College Savings Plans Network. Despite the...

A 529 college savings plan is an investment account that allows families to save for a child’s education-related expenses tax free. States run these plans, and while you don’t have to use the one your home state offers, you may get extra tax breaks for doing so. If your child receives generous scholarships or chooses […]

Working for yourself has many perks: Setting your own hours, choosing your pay rate and avoiding a regular commute are all big advantages of the gig economy. But the roller coaster of inconsistent income can make it difficult to afford regular bills, such as student loans, during slower months. Here’s how you can manage student […]

MoneyTips

Chances are that if you have student loans, you need every bit of extra cash that you can get. Did you realize that your student loans might be able to generate some cash for you?

Under certain circumstances, you may be able to save on your tax bill by deducting the interest that you pay on your student loan. The total deduction from your taxable income could be as much as $2,500. As a final bonus, you do not have to itemize to claim this deduction.

To be eligible for the deduction, your loan must meet certain qualifications. It must have been made to cover qualified education expenses as defined in IRS Publication 970, including tuition, fees, and most room and board charges. The loan cannot have come from a relative or via a qualified employer plan, and the e...

Your Unpaid Student Loan Could Cost You Your Tax Refund

9 Crucial Tax Deductions

Tax Shelters 101

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