Category Archives: Saving for College

Every Little Bit Counts When Saving For College

I know from personal experience just how much it costs to go to college these days. Now that I have a child, I sometimes find myself wondering what the cost of a higher education will be by the time that my son is old enough to attend. He is just about eighteen months old right now, so I have a while to plan for it but that does not make me worry any less. When I attended college as an undergraduate, I was extremely lucky in that my parents had made saving for college a priority and they paid for … Continue reading →

Are Student Loans Really Good Debt?

For as long as I can remember, I have heard people referring to student loans as “good debt”. I even believed it myself for a while, until I came to the end of my educational journey and stepped out into the real world. While I do not regret the years that I spent earning my J.D., I am certainly not a believer in this whole “student loans are good debt” concept any more. For the concept of “student loans are good debt” to work properly for an individual, a few things must happen. First of all, you must actually complete … Continue reading →

Should you Save for College or Retirement

If you have kids, then it is important to invest in a college savings plan. Every dollar you save when they are young, will greater your chances of paying for their education. In turn, you must also save for retirement. How do you balance out these two important long-range investments? Most financial planners will recommend you take care of your retirement first. The main reason being that at retirement you will no longer be making money and will definitely need the savings. Whereas, when your kids are in college, you will still have an income you can rely on to … Continue reading →

Start Saving for your Kid’s College Education NOW!

I have a New Year’s resolution for you to start 2008 off right. Vow to begin a college savings plan for your kids and add as much or as little as you can each month starting next year and beyond. It doesn’t even matter if all you have to save is $25 a month or $1000. Save what you can and get started. The sooner you begin investing, the further your savings will go. The less money you have to set aside for your kids, the sooner you need to start. Money saved when your children are young… less than … Continue reading →

Cut the Cost of College

Is college in your near future? Then start thinking about ways to cut your overall costs now. Half of the problem is saving for college, the other half is figuring out how to get the most education for your money. Consider some of these steps to cut the overall cost, without degrading the degree. 1. Junior or Community College Even if you only go one or two years the final cost of a junior college is far less, and often a better opportunity to learn. Transitioning from the smaller classes of high school to a large college can be stressful. … Continue reading →

Tips on Saving and Raising Money for College

The following are some ideas and tips to help you make college a reality for your children. Whatever their ages, if you want to ensure your kids receive a quality education, consider the following options. 1. State Sponsored 529 Plans: This is a profitable scenario if your kids are still quite young. With these plans, not only can you save for college, you can also gain tax breaks as well as receive investment earning that are tax-free. 2. Monthly Savings Plans: Any amount you save will be helpful. Try to get in the habit a setting aside a set amount … Continue reading →

The True Value of College

When evaluating the decision to enroll in a college institution, whether it is for you or your child, the true value of the education must be considered. What is true value you may ask? It is basically an assessment of the long term value of the education vs. the actual cost of tuition. While certainly the college experience has value all on its own. It is also important to look at it purely from an economic view. Especially as the cost of tuition continues to rise, analyzing the actual value of a degree is an important financial process. Ultimately the … Continue reading →

Is Student Loan Debt a Necessary Evil?

Is student loan debt a necessary evil? So many people graduate with at least some student loan debt now, that most people do not even think twice about it. Student loans can add up quickly and then seem to take forever for people to pay off. With the consolidation loans you can have your payments spread out over twenty years. This is a long time to be paying for school. Here are five things to consider before you take out student loans. 1) Before you take out a student loan you should apply for all grants and scholarships that you … Continue reading →