That title was a trick. I’m actually going to write about how much you should contribute to a 529 first. Lately I’ve heard versions of the same question again and again: After a year of no travel, eating out or other activities, people are sitting on extra cash that they want to direct towards college. Many are wondering what’s the…
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Now that the May Treasury auction has taken place, student loan interest rates for the 2021-2022 school year are set. This year’s yield on the 10-year treasury was 1.684%, up about 1% from a year ago. Since student loan interest rates are fixed markups from the May treasury yield, that means student loan interest rates will go up about 1%…
Lew De Luca is the immensely helpful Student Financial Literacy and Advising coordinator at the University of Southern Connecticut. In that role, he helps students and families understand college costs and develop workable plans to minimize debt. In my latest podcast episode, he walked me through some of the key pieces of college financial literacy. His wisdom is available here…
There’s been a great deal of chatter around the topic of free college recently. Because a lot of that chatter is along the lines of, “Why save for college? It’s going to be free!” I think it’s worth a quick review of the content of actual free college proposals. This week, Sen. Bernie Sanders and Rep. Pramila Jayapal introduced the…
Before your student chooses a college– or starts dreaming of an unaffordable one– here’s some data they need to see. A recent Harris Poll on behalf of CNBC Make It’s “Middle-Aged Millenials” series showed that more than half of older millenials– those aged 33-40– regret taking out student loans. Of 1,000 such adults surveyed, the average amount borrowed was just…