Lauren Haynes is a fellow financial advisor who blogs about family finance at wordsonwealth.com. Below she offers some guidance on starting a healthy, productive dialog with your teen about college and their future.
A 2016 Citizens Financial Group survey said that 57% of millennials wished they hadn’t borrowed so much money to attend college. This statistic leaves parents in a difficult Continue reading Helping Your Teen Envision Their Future
Navient, the largest servicer of student loans, has been in the news this past week because it is being sued by the Consumer Financial Protection Bureau and several states’ attorneys general. One of the CFPB’s charges is that Navient steered borrowers into forbearance instead of income-driven repayment, which often results in borrowers owing considerably Continue reading Income-Driven Payment vs Forbearance
Since the end of the Great Recession in 2009, almost all of the economic gains have gone to workers with college degrees, according to a recent report from the Economic Policy Institute. In fact, the earnings gap between college graduates and those with only a high school diploma is larger than it has ever been, with college graduates earning 56% more Continue reading College Degree More Valuable Than Ever
The just-released Delta Cost Project’s Trends in College Spending report is a survey of college and university finances for the decade ending 2013 (the most recent year for which comprehensive data is available). The goal of the report is to show how colleges and Continue reading Trends in College Spending
While it’s true that there is an income protection allowance on the FAFSA, it’s extremely low– roughly the federal poverty line for a family of your size. The bigger issue is what is included in income and what is subtracted from it to arrive at “Available Income.” Why is Continue reading FAFSA Income