One of the most daunting questions for parents and students alike when entering college is "how am I going to afford this?" College debt is an increasing concern as tuition in both state and private schools is on the rise. A September 5th article in Kiplinger's by Janet Bodnar, "7 strategies to avoid the college debt trap" touts some simple ways to avoiding financial burden: from tax-free state-sponsored savings plans to choosing a strategic school that offers the best bang for your … [Read more...]
Aug
31
Credit Card Reform on Campus
An 8/27/10 article in The Washington Post by Ylan Mui, "Credit card reform has companies treading lightly on campus," indicates credit card companies are now having to scale back college campus solicitation efforts. Issuers are now prohibited from giving away freebies such as frisbees and pizza to students for signing up, and cards issued to students under 21 must be co-signed with an adult (unless the student can show an independent source of income). These new regulations are targeting … [Read more...]
Aug
24
Who’s Paying For School?
A great article from yesterday's New York Times online by Catherine Rampell, "How Americans Pay for College", breaks down the average methods in which American families pay for their student's education. Parents pay for an average of 37% of school costs from their income/savings and pay for an additional 10% through borrowing options. Grants and scholarships make up the second largest chunk of funding at 23%. Check out the full article here to see how you match up. … [Read more...]
Aug
05
You May Need XL Sheets, But What DON’T You Need?
Now that you know what to bring to college, how about some information on what NOT to bring. A recent Kiplinger article, "12 Things College Students Don't Need," by Marc Wojno points out how to save money by avoiding bringing some costly items to campus. Among a few interesting items you think you may need but really don't: Printer- why waste money on paper and ink cartridges when you can use campus labs instead? A big meal plan- no reason to overload on the football player meal plan … [Read more...]
Jul
28
A Parent’s Guide To College Student Finances – A Balancing Act
It will not be long before your student moves the last box from the car into their new room. You have done an amazing job guiding their path through high school and now it is their turn to shine on their own. College is an amazing opportunity for personal growth and development along with preparation for a future career. Unfortunately, many students are not prepared to tackle their financial independence and responsibilities. Let's recall the story of Jane, a bright girl, raised … [Read more...]
