Public Service Loan Forgiveness is a great concept that suffers from terrible implementation. On the surface it sounds straightforward enough: Work 10 years in the public or non-profit sector, make payments on your student loan for those 10 years, and any balance remaining is forgiven. In theory, loan forgiveness after 10 years would make it possible for individuals to pursue…
Getting an estimate of your Expected Family Contribution is really helpful, and it’s pretty easy. The Department of Education’s unfortunately-named Student Aid Estimator will calculate the FAFSA’s EFC for you with a few data inputs; the College Board offers one for the CSS Profile. While each has its limitations– in particular, the Profile’s EFC estimator doesn’t account for the myriad…
Happy 2022! One of my resolutions is to just take this year as it comes rather than promising myself everything is going to get better. There will be good days and bad days, but I’m not setting any expectations about what those are going to look like. That doesn’t help you get your kiddo through college, though, so here are…
If you’re a financial advisor, it’s hard to go an hour without talking about I Bonds right now. It seems the word is getting out to the general public now too. I Bonds are a form of Treasury bond that pay an interest rate that incorporates an inflation factor. Right now, due to high inflation, they are paying 7.12% interest….
A recent survey showed that while almost two-thirds of parents were saving for college, only about one-third are saving in a 529 plan. That’s unfortunate, since 529s are usually the best choice for savings, for a lot of reasons. On the other hand, it’s not unexpected, given that the vast array of often confusing choices can be a barrier to…