Understanding Student Loans

When it comes to paying for your college education, you may be confused at what to do. There are several different options available to you. It is important to realize that you do not need to take out student loans to attend college. There are many options available that include scholarships and grants. You may need to choose a less expensive school in order to avoid student loans. However, if you do choose to take out student loans, it is important you understand the options. There are three basic types of student loans. The first is a Stafford loan. The … Continue reading →

Have You Considered Separate Accounts?

Would separate accounts work for you and your spouse? This is a personal choice that all couples make when they first get married. It can be difficult to merge two different spending habits, lifestyles and money habits once you are married. It is important to realize that as you make this decision, that there are many different opinions, and ultimately the choice is up to you. One of the pros of having separate accounts is that you retain control over your own money. Many couples who marry later in life feel more secure knowing that they have control over their … Continue reading →

What You Need to Know about 529 Plans

What are usually referred to as 529 plans are properly called Qualified Tuition Programs (QTPs). They were first authorized by the Federal Government in 1996 to encourage parents to plan for the college education of the next generation. The 529 Plan is State-sponsored. It’s intended that the proceeds are used for tuition fees and all the other costs associated with education beyond high school. That would cover issues like accommodation, books and general expenses associated with going to college. Generally, tax exemptions are generous. Contributions are deductible for Federal Income Tax and some states allow deduction for state tax purposes … Continue reading →