My social media feeds are full of prom and graduation pictures, which means it’s time to talk about how you get money out of the 529 plan to which you’ve been diligently (or otherwise) contributing. First of all, a 529 plan isn’t like an HSA or medical savings account where you get a debit card to use for your purchases….
When students go off to college, parents lose access to their health and education records unless the student authorizes that access. FERPA rules govern access to education records, while HIPAA rules govern access to health records. Getting the right forms completed before your student leaves for college will allow you to access their records as well as to assist and advocate for…
Bad news in a world where it seems the cost of everything has gone up: the cost of student loans is going up, too. Student loan interest rates are set annually based on the May Treasury auction. With this year’s auction behind us, we now know what the rates on this year’s student loans will be. Each loan type has…
If you’re still looking for your dream school, head over to NACAC’s College Openings Update. This list of colleges still accepting applications is released annually and serves as a reminder that plenty of colleges are happy to welcome students rather than rejecting them. The database allows you to search on numerous criteria including location and availability of financial aid. Now…
April is Financial Literacy Month, so I’m writing about general financial topics this month. Today’s topic: the power of compounding. The power of compounding is what makes long-term savings so beneficial. It’s also what makes debt so costly. You’ve probably heard the saying, “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who…