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It’s Never Too Late To Start Your College Plan
The need for college planning has never been more important. The average cost for a private school is now $35,676 and the rates on Stafford and Parent Plus loans for 2019 have increased to 5.05% and 7.6% respectively. For parents with children in high school, this...
End-of-Year Planning Strategies to Consider
December is almost here, and my children are already preparing their Christmas lists. These lists seem to get larger every year. Anyway, let’s get right to it and take a look at some planning strategies and pitfalls to avoid before year-end. Maximizing Retirement...
College Corner – How Do The New Tax Changes Impact College Planning?
How will the new tax changes impact college planning? Let’s get right to the point, the changes will help many families. The tax reform changes now allow 529 plan distributions to be used tax-free (federally) for private elementary and secondary school expenses...
Don’t Be Part of the Student Loan Crisis – Create a College Plan
To say that student loans are an issue is an understatement. Let’s look at a few statistics. Outstanding student loans are nearing 1.6 trillion, second only to mortgages when it comes to consumer debt. Current delinquency rates are over 11% and based on...
How A Divorce Can Impact Your College Planning
A divorce or separation can have a dramatic impact on your child’s eligibility for financial aid, and here’s why – some colleges will only consider the income and assets of the custodial parent, while others will include both the custodial and non-custodial...
College Corner – Gifting Appreciated Assets To Children
Should we gift appreciated assets to our children to help pay for college? As is normally the case with planning, it depends. You first need to determine if you will qualify for any need-based financial aid. The formula for determining need-based aid is Cost of...
College Selection – Why Choosing The “Right” School Is So Important
College selection is an integral part of any college planning strategy. Where will your child fit in best? What should they major in? What financial aid, if any, can they expect to receive? These can be difficult questions to answer for most families without...
College Corner – I Make Over $200,000 A Year, Should I Bother Completing The FAFSA?
Welcome back to “College Corner”. Our goal here is to help you develop your best college planning strategy by addressing the topics of tax planning, financial aid optimization, college selection and personal finances. If you have a question please send it our...
Picking The Right Financial Advisor For Your College Planning Strategy – What To Ask
The average college student is graduating with over $37,000 in student loans. And they aren't the only ones taking on debt: Parents are borrowing more than ever to help their children pay for a college education, and jeopardizing their own retirement goals in the...
3 Questions To Answer Before Taking Out Student Loans
America has a student loan problem. Current delinquency rates are over 11% and based on recent research those numbers might be drastically understated. Student loans should be the last option when funding an education however they appear to be the first. The good...
College Corner – Will Contributions To An Annuity Or Life Insurance Be Sheltered From Financial Aid Calculations?
We get asked this question a lot and for good reason. The cost of an education in increasing at a tremendous pace and families are trying to determine how they can qualify for more financial aid. The short answer is that life insurance cash values are not counted...
Tips On ‘Late-Stage’ College Planning
The cost of higher education is growing out of control. Meanwhile, the majority of financial advisors fail to help families navigate the shift from saving for college to figuring out how to pay for it — the critical phase of late-stage planning. This lack of...
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