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….
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Rising interest rates are a boon to savers but a curse to borrowers. And just like mortgages and credit cards, next year’s student loans will have higher rates. Federal student loan interest rates are based on the 10-year Treasury yield at the May auction. That auction took place last week, so next year’s interest rates are set. Each loan type–…
Recently Stanford’s announced tuition hike made headlines: a 7% increase in tuition would bring 2023-2024 costs to over $82,000 for tuition, fees, room and board. This follows a 4% rise in the previous academic year and an average annual increase of 3.5% over the past 10 years. Less attention is being paid to Nacubo’s announcement that, headline tuition rates aside,…
It’s tax time, which means it’s time to claim education tax credits you may be eligible for. Unfortunately, a lot of tax software programs don’t provide good instructions for doing so, so it’s a good idea to pull up the instructions for Form 8863 and review them before filing. The American Opportunity Tax Credit is the more valuable of the two credits,…