The College Investor Audio Show

Want to gain control of your cash? Then you probably need to learn how to create a budget. A budget is still the best tool to help you control your spending and achieve your financial goals.But getting started with budgeting can feel intimidating. Between your bills, subscriptions, and in-person purchases, how in the world do you go about tracking all your expenses throughout the month? Learning how to create a budget may seem like more work than it’s worth.But don’t give up on budgeting before you even start. With the right strategy and budgeting tools, building a budget may be a lot easier than you think. In this guide, we give step-by-step instructions on how to create a budget that actually works.

The 529 plan was designed specifically for education savings, offering tax-free growth and tax-free withdrawals for qualified education expenses. Many states also provide tax deductions or credits for contributions.Despite these advantages, some families hesitate to commit. Concerns about what happens if a child does not attend college, limitations on investment choices, or uncertainty about future expenses push some parents to explore other options.Alternatives such as UGMA/UTMA custodial accounts, Roth IRAs, or savings bonds can provide more flexibility. However, each comes with tradeoffs that influence financial aid eligibility, tax treatment, and long-term wealth planning.Here are the main 529 plan alternatives, along with the pros and cons of each.

529 plans were originally created to help families save for higher education with the benefit of tax-free growth. Over the years that definition has expanded, but it still calls into question: what happens when you're done with education and have an unused balance?Reasons range from children receiving scholarships, choosing lower-cost schools, finishing degrees early, or even deciding not to attend college at all.While funds in a 529 plan don’t expire, spending them on non-education costs generally triggers taxes and a 10% penalty on the earnings portion. Some states may levy a penalty as well! The good news is that families now have more ways than ever to use extra funds without losing the tax advantages.

For months, income-driven repayment processing has been a source of frustration for student loan borrowers. In August, the Department of Education reported (PDF File) that it processed 305,641 IDR applications. That figure marks one of the best months since courts required public updates earlier this year.The backlog now stands at 1,076,266, down significantly from nearly 2 million in the spring. For borrowers, this means faster processing of applications that determine monthly payment amounts and eligibility for long-term student loan forgiveness.PSLF buyback processing also saw it's best month yet, with 5,400 PSLF buyback requests processed. However, the backlog of buyback requests still grew, highlighting that progress on this front is slow.The improved processing signals that the Department may be allocating more resources to address longstanding delays. Still, over a million cases remain undecided, and how quickly the agency can sustain this pace remains a pressing question, especially as new repayment programs such as the Repayment Assistance Plan (RAP) are set to launch in 2026.

The American Federation of Teachers, representing 1.8 million members, has intensified its legal challenge against the Department of Education and Education Secretary Linda McMahon. In an amended complaint filed this week (PDF File), the union seeks class action status on behalf of millions of borrowers it argues are unlawfully being denied access to income-driven repayment (IDR) programs and Public Service Loan Forgiveness (PSLF).The filing follows a timeline in which the Department froze processing of IDR applications for months, leaving a backlog that started at two million borrowers, but still is blocking more than one million borrowers. The AFT argues that even as processing resumed, the Department has effectively blocked forgiveness by halting loan forgiveness under IDR plans and allowing a separate PSLF Buyback backlog to climb above 74,000 applications.The complaint alleges these delays and denials violate federal statutes that require the government to offer affordable repayment options and cancel loans after 20 or 25 years of repayment, or after ten years of public service. The union is pressing the court to enforce these obligations before the end of the year, when the student loan tax bomb resumes.

For high school seniors looking to pay for college, scholarships and grants can make the difference between affordability and long-term student loan debt. The rise of artificial intelligence (AI) tools has opened new ways to streamline the search process. Platforms such as ChatGPT and Perplexity can help students brainstorm possible scholarships, draft essay outlines, or build spreadsheets for tracking deadlines.But do NOT treat AI as a final authority. AI systems can “hallucinate” - inventing scholarship names, deadlines, or amounts that don’t exist. That risk makes verification essential.Students should always cross-check opportunities against reliable scholarship search tools, such as the College Board’s Scholarship Search, Fastweb, Scholarships360, or state higher education portals.Used correctly, AI can save hours of sifting through generic search results. Used carelessly, it can mislead students into chasing fake or outdated programs, or even get you disqualified from scholarships you might have earned.

Actor Chadwick Boseman became a household name after his role as King T’Challa in Marvel’s “The Black Panther.” The breakthrough film put Boseman front and center in Hollywood, and when he passed away at age 43, many fans were in disbelief. Boseman was insanely private, keeping his illness within his tight circle of friends and family. He even married his wife in a secret ceremony before his passing. One thing the star did not do, however, was file a will or trust. 

We all hope terrible situations will never hurt us or our loved ones. But making practical plans for your eventual death will make your passing easier. That’s true whether you die unexpectedly at a young age or you live to be 140 years old.Here are the six key estate planning documents that most people will eventually need. You might think all you need is a will, but once you understand how everything works, you'll see why you need all these documents and how they work together to ensure your family's needs and your final wishes are met. Remember, you don't want to end up like Chadwick Boseman's family.If you don’t have a robust estate plan, keep reading to find out what you need.

It can be confusing to understand whether you're a dependent or independent student for FAFSA and financial aid purposes.Given the current cost of higher education, college students need all the help they can get when paying for college. There are a variety of different ways to pay for college, including paying your own way, scholarships, grants, and student loans.Nearly all forms of financial aid start with filling out the Free Application for Federal Student Aid (FAFSA) form that is made available by the U.S. government. And one of the key sections of the FAFSA form is determining whether you are a dependent or independent student.Here's what you need to know.

You've probably heard of the student loan interest deduction. But what you may not know is that this is just one of several tax breaks for tuition and student loans that are baked into the U.S. tax code.There are also federal income tax advantages for saving for college through 529 college savings plans, Coverdell Education Savings Accounts, and the Education Savings Bond Program. And some states provide state income tax deductions or tax credits based on contributions to 529 plans.Going to college is getting more expensive every year. But by taking advantage of as many tax breaks for tuition and student loans as you can, you can effectively reduce the overall cost of your post-secondary education. Here are the credits and deductions that you should be aware of.

Today we're talking about a tough subject: what happens when you die? Specially, what happens to your student loans when you die?Do your student loans die with you (meaning your family is free and clear), or will someone else have to experience the burden of your student loan debt? Are student loans forgiven at death?It's important to know what will happen — because if you don't follow these steps, your family could be liable for your student loans.

Check out Robert's interview on Money Life with Chuck Jaffe, where he breaks down the latest on student loan repayment plan options.

President Trump generally does not support student loan forgiveness and would likely seek an end to some student loan forgiveness programs. But can the President claw back student loan forgiveness that has already been granted?It's sparked a lot of concern in recent weeks, especially as President Biden has continued to propose new student loan forgiveness plans and already has set a record during his presidency for the most student loan forgiven.As of November 2024, President Biden has provided $175 billion in student loan forgiveness for 4.6 million borrowers, more than any previous president. For borrowers that have already received forgiveness, the question looms:Could Trump claw back student loan forgiveness that has already been granted? The answer is generally no.Let's break it down and learn why past loan forgiveness is likely protected, but future loan forgiveness could be in jeopardy.

It really is possible to make money in one hour.You've heard of money making ideas like starting a blog or starting a business, but those ideas take time. While they have great long term potential to earn extra money, sometimes you need to earn that extra money fast. And it can be hard to find ideas where you can actually do that.Maybe you have a bill coming due, or you're looking for some extra cash pretty quick to do a fun activity. No matter what the reason, you need to remember that there are ways to make money quickly. And if you like quick money, make sure that you check out our guide to How To Get Free Money (yes, potentially $1000s).However, when it comes to quick money, you should know that it's not great money. These ideas are real, they work, but they won't make you a millionaire by any means. They will help you close a small gap in your budget or earn a little extra when you need it.You can also check out our 10 Best Money Making Apps if you want mobile access to making money!

The only way I see myself escaping my student loan debt is to kill myself.I want you to read that again: The only way I see myself escaping my student loan debt is to kill myself.Reading that sentence gets me emotional. I can sense the pain. I can feel the despair in the words. It creates a tightness in my chest as I hold back tears thinking about what that means. You can sense the burden that is on her shoulders thinking that the only way out is to end her life. Isn't that the most horrible thing you've read?You want to know something, though? I've read that sentence twice this year talking to readers here on this site.And the truth is that there are many more people out there than the two readers that reached out to me. People that we haven't necessarily connected with, but maybe will find this article and feel a little weight lifted off their shoulders.Let's talk.If you are feeling suicidal, please call the National Suicide Prevention Lifeline at 1-800-273-8255 or text HOME to 741741.

What is a grandparent-owned 529 college savings plan? How do they work? What do you need to know about them and what changes should you know about? A grandparent-owned 529 plan is a type of 529 college savings plan where the account owner is a grandparent, as opposed to a parent. The grandchild is the beneficiary. Another alternative would be a custodial 529 plan account, where the grandchild is both the account owner and beneficiary, but the grandparent serves as custodian. There is no limit on the type of 529 plan where grandparents can make contributions. Grandparents can contribute to grandparent-owned 529 plans, custodial 529 plans, and parent-owned 529 plans. Keep in mind that grandparent-owned 529 plans have a different impact on eligibility for need-based financial aid than parent-owned 529 plans. Here's what you need to know if you're interested in a grandparent-owned 520 plan. 

As the cost of college continues to rise, more students and families are turning to employer tuition reimbursement programs as a way to fund education without debt. These programs, offered by companies ranging from fast-food chains to tech giants, provide employees with financial support for accredited degree programs, professional certifications, and even graduate degrees like getting your MBA.For workers, the appeal is straightforward: earn a paycheck while receiving substantial help with tuition. For employers, tuition assistance programs are a recruitment and retention tool in a competitive labor market.The average annual benefit is about $5,200, with some companies covering 100 percent of tuition. Starbucks, Walmart, and Papa John’s reimburse all eligible tuition at partner universities. Others, like Microsoft and Goldman Sachs, provide up to $10,000 per year.

Student loan debt is one of the most complex financial products in the United States, shaped by constantly changing federal programs, complicated repayment plans, and rules that differ based on the year you borrowed, income, marital status, and type of employment. In today's world, so many people default to “just ask ChatGPT” for quick answers. But what happens when you do?I posed two scenarios to ChatGPT. The first was straightforward: $20,000 in federal student loans, with a borrower earning $52,000 a year as a teacher. The second was more complicated: $220,000 in loans across undergraduate, graduate, and private loans, with a $120,000 income as an architect.The results revealed the pitfalls of using artificial intelligence as a financial resource. While the tool offered a basic repayment overview, it also recommended outdated programs and struggled to provide clear answers on loan forgiveness programs like PSLF. Even when it recommended questions to help personalize the output, the questions weren't enough to provide a better answer.

After several years of delayed rollouts, the U.S. Department of Education has confirmed that the Free Application for Federal Student Aid (FAFSA) will be available on time this fall. Secretary of Education Linda McMahon certified to Congress that the 2026-27 FAFSA will launch by the statutory October 1 deadline, restoring a timeline that families had long relied upon when apply for financial aid.The Department began beta testing of the form in early August, describing it as the "earliest testing phase in FAFSA history". According to officials, more than 1,000 students have already submitted applications during this period, with thousands more expected before the public launch.For families eager to finalize their college financial aid plans, beta testing provides a chance to get an early start on the FAFSA.

If you drop a class or drop out of college, you may have to repay all or part of the financial aid you received. How much depends on the type of financial aid and when you dropped the class or left school. Even though the Federal Pell Grant is a grant that normally does not need to be repaid, you may have to repay all or part of it in certain circumstances. And let's face it, even the best students may drop a class here and there. So here's what you need to know about the impact on your financial aid if you drop a class or even drop out.

Public Service Loan Forgiveness is one of the most sought-after federal student loan forgiveness programs, promising debt cancellation after 120 qualifying payments for borrowers who work in government or nonprofit jobs.But this program has also been plagued by years of confusion, regulatory changes, and uneven implementation. The whiplash for some borrowers has been intense. With AI growing in popularity, some student loan borrowers are using it to get answers to technical questions.But can AI actually be trusted to explain a program as complex as PSLF?To find out, we posed a series of questions to four leading AI platforms (ChatGPT, Google Gemini, Grok, and Perplexity) ranging from the most basic definition of PSLF to more detailed scenarios. While all four tools correctly explained the basics, most stumbled when asked about nuanced issues such as whether the SAVE plan’s administrative forbearance counts toward forgiveness, whether the new Repayment Assistance Plan (RAP) qualifies, and whether a borrower’s loan must be serviced by MOHELA.The results show that AI may be useful for simple answers but cannot yet replace official resources or expert guidance when it comes to navigating student loan forgiveness.

As student loan borrowers brace for the full impact of the OBBBA to take effect, questions are swirling about whether forgiveness has been completely suspended across the board. Some headlines suggest that no one is getting debt relief. The reality is more complicated.Whether student loan forgiveness is processing or not depends on the loan forgiveness program you're waiting on.The Public Service Loan Forgiveness program is still processing applications, even as a PSLF buyback backlog grows. The Income-Based Repayment plan, or IBR, is temporarily paused for "system updates", but not due to a court order. Student loan forgiveness under SAVE, PAYE, and ICR is blocked by a federal injunction. And even disability discharge is delayed for system updates.The fact that so many issues are arising around student loan forgiveness processing is leading many to question what's happening. Are "system updates" really happening, or is the new administration slow-walking their legal mandates to provide loan forgiveness for eligible borrowers? It's concerning a lot of borrowers.

The Department of Education has confirmed that it will transfer an unspecified number of student loan accounts away from the Missouri Higher Education Loan Authority, better known as MOHELA, by the end of the year. This was revealed in a letter to Senator Elizabeth Warren (PDF File), who was asking for information from the Department of Education about the current status of repayment and forgiveness programs. While the department has not provided details about how many accounts will move or which servicers will take them, officials did say that this will include some of the PSLF portfolio. “FSA is prioritizing efforts to improve customer service,” Sarah Ursprung, Acting Assistant Secretary for Legislation and Congressional Affairs, wrote in a letter to Senator Elizabeth Warren.For borrowers, the news brings both relief and apprehension. A change in servicer might resolve long-standing frustrations, but the process of transferring accounts has often been messy in the past.

The future of student loan repayment for SAVE borrowers is now caught between a pending court ruling and how quickly the Department of Education can execute on the One Big Beautiful Bill (OBBB) that just passed.Borrowers in administrative forbearance under the SAVE (Saving on a Valuable Education) plan know the future now, but they don't know when. The OBBB makes it clear that borrowers in the SAVE forbearance will migrate to amended IBR, or have an option to enroll in the new Repayment Assistance Plan (RAP) in 2026. But the question as to when remains.When will the SAVE forbearance officially end and borrowers be required to make payments again? Note: This isn't about interest accruing - that's starting back on August 1 and no payments are still due. This is about when payments may resume.Several scenarios are on table for SAVE repayment resumingED forces SAVE borrowers into repayment before July 2026: The Department of Education could return borrowers to repayment as soon as December 2025, then still force them to move repayment plans between July 2026 and June 2028. The Department of Education keeps borrowers in forbearance until migration in mid-2026: The Department of Education simply migrates all borrowers on SAVE to amended IBR by July 2026, coinciding with the RAP plan beginning.Other Timelines: Literally any timeline could happen between December 2025 and June 2028. But it would be rare to keep borrowers in forbearance until 2028, and logistically it would be a nightmare for loan servicers NOT to coordinate with the other changes happening.The fastest option could see payments start again is the very end of 2025, though it's the least likely, because SAVE is enjoined they cannot simply restart SAVE payments. Our opinion is the highest probability of payments resuming is mid-2026 for SAVE plan borrowers.Here's a more in-depth look at these three scenarios.

Barely weeks after Republicans secured passage of the One Big Beautiful Bill Act, the Economic Policy Innovation Center (EPIC) is calling for a follow-up effort. Its memo, circulated among congressional staff, recommends that lawmakers use another reconciliation package to reshape parts of higher education and financial regulation. This comes after a House member announced a working group to explore another bill.The group’s proposals include creating a new family savings account, fully defunding the CFPB, and eliminating Public Service Loan Forgiveness (PSLF), a program that forgives federal student loan debt for government and nonprofit workers after ten years of qualifying payments.Supporters of the push are calling it “OBBBA 2.0,” positioning it as an extension of the first package, which was framed by Republicans as a landmark fiscal and cultural win. But the think tank’s ideas face procedural and legal barriers.

The Department of Education has issued new guidance (PDF File) clarifying how colleges should use Federal Work Study (FWS) funds. The updated guidelines emphasize placing students in jobs that offer hands-on, career-relevant experience tied to their studies, while prohibiting the use of FWS wages for voter registration or election-related activities.The FWS program, created to provide part-time employment for students with financial need, has long given institutions discretion in shaping job opportunities. As recently as 2024, the Department of Education allowed colleges to use FWS employment for voter registration drives or other non-partisan political activity. But the new Dear Colleague letter rescinds the previous directives, and makes clear that federal officials expect schools to connect students with work that helps build skills and experience for future employment.

College meal plans are a way to prepay for your meals while on campus. This can be a convenient way to get food, as most college dorm rooms do not have kitchens. Depending on the college, they may offer a variety of different college meal plans, ranging from pay as you go to an all-inclusive meal plan that covers all of your meals.However, meal plans are an added expense, so understanding how college meal plans work and whether or not your student will use it is key.

Free community college is currently offered to some or all students in 33 states.With college costs and student debt on the rise, students and their parents need to think about ways to cut the overall cost of higher education. Even if a student wants to attend a four-year university, starting at a two-year university can conservatively lead to five-figure savings. Students who decide against earning a bachelor’s degree can gain a credential (associate’s degree) while spending less time and money than they would in a traditional public university.However, even some community colleges are now offering bachelor's degrees to compete against 4-year schools.Whether a student’s goal is to start a career as soon as possible or to earn a bachelor’s degree and beyond, using community college to save money and get ahead can be a smart move. In fact, attending a two-year college may be the most broadly-accessible method to reduce costs while still getting a head start on education.

Being a college student may require you to figure out ways to pay for school without taking on a huge amount of debt. Perhaps it means working part-time or longer hours in the summer. It may entail researching for scholarships and grants. Some students use the GI Bill to cover the costs after deployment.It's a challenge to cover your tuition and living expenses when you’re a college student on a budget. According to the Education Data Initiative, the average public university loan student borrowed $31,410 to complete their degree.Using federal loans to pay for a university education may seem like the only answer, but those loans usually have to be repaid. Plus, many people (including international students and people with DACA status) aren’t eligible to fill out the FAFSA.

The Free Application for Federal Student Aid (FAFSA) is the form that needs to be filled out for you to receive financial aid from the government for college. But filling out the FAFSA for divorced parents isn't always straightforward. The FAFSA is set to launch on October 1, and this year marks the second year that parents and students will experience the simplified FAFSA.The simplified FAFSA cuts down on the number of questions asked, allows you to directly transfer information from your tax returns, and it uses a new “Student Aid Index” instead of the complex Expected Family Contribution.Divorced parents may see some big changes when they complete the next FAFSA. In this article, I'll explain what divorced parents need to know when it comes to completing the FAFSA.

A new Fidelity Investments study finds that economic conditions over the past several years are influencing how high school students plan for life after graduation and what they're willing to pay for college. More than half said living through recent financial instability has changed their view of higher education, prompting many to focus on affordability, career readiness, and long-term financial security.The survey, which polled more than 2,000 students and parents, shows a steady increase in the percentage of college-bound students prioritizing cost when choosing where or how to pursue higher education. In 2025, 47% listed cost as their most important factor, up from 40% in 2021. Among high school seniors, the figure rose to 54%.Career outcomes weigh heavily too. 65% of students want a job in a field they care about, 61% seek salaries that support long-term goals, and another 61% aim for stable careers. These numbers have climbed since 2021, when fewer than 55% rated these as top priorities.While most still plan on a traditional college route, interest in alternatives paths is growing. The share of students considering vocational or trade school as their primary option has tripled since 2021, from 2% to 6%, though still a clear minority.

The United States’ gross national debt has surpassed $37 trillion, marking an all-time high and raising concerns about the speed of borrowing and its economic consequences. The Treasury Department’s daily financial report released Tuesday recorded the total at $37,004,818,000,000. This milestone arrived years sooner than expected, with the Congressional Budget Office’s (CBO) pre-pandemic estimates projecting it wouldn’t occur until after fiscal year 2030.The rapid rise reflects massive borrowing over the past six years. Federal spending surged in response to the Covid-19 pandemic, with emergency stimulus measures, unemployment expansions, and business aid programs passed under both the Trump and Biden administrations. The pace has remained brisk as new tax cuts and spending packages continue to push the debt higher.

A new rule from the Department of Education could reshape the Public Service Loan Forgiveness program (PSLF) by redefining which employers qualify.The new rule, published today in the Federal Register (PDF File), would allow the Secretary of Education to block PSLF eligibility for organizations determined to have a “substantial illegal purpose.” The definition covers a wide range of activities, from providing medical care to transgender minors to allegedly violating immigration laws or engaging in (or even prohibiting to stop) certain protests.The rule, slated to take effect July 1, 2026, would not strip existing PSLF participants of past qualifying payments. However, future payments would stop counting if an employer is disqualified under the new criteria.

The college admissions process is notoriously competitive. The last several decades might even indicate that getting into college has become harder, overall. College acceptance rates hover at a national average of 68%, though the rate at some of the nation’s top institutions is a shocking 3%.Let’s put that into perspective, though. Of course, acceptance rates drop when more students are applying, and colleges have largely seen nonstop growth since the mid-twentieth century. There are roughly two million more students enrolled in college today than in 2004 and just over seven million more enrolled today than in 1984. In only four decades, that’s nothing to sneeze at!And while colleges tend to emphasize the importance of an applicant’s academic performance, extracurricular involvement, and personal essay, there are more covert factors taken into account that are not discussed publicly. Read through these less obvious yet significant aspects that could play a role in your admissions decision.

The Department of Education’s ombudsman office, which handles disputes from student loan borrowers, is facing a backlog exceeding 27,000 cases, according to a recent data sent to Senator Elizabeth Warren (PDF File). The surge comes after the office lost nearly two-thirds of its staff in sweeping layoffs authorized by the Trump administration earlier this year.According to recent court documents (PDF File), the office had 63 employees at the start of the year but now has 25.As a result, number of unresolved complaints has risen sharply from about 16,000 in March to its current level of over 27,000, and the office continues to receive hundreds of new cases each week.In May, the most recent month with available figures, the office closed just over 1,100 complaints. At that rate, the backlog could continue to grow for months. Senator Warren has pressed Education Secretary Linda McMahon for details on how the department will address the bottleneck, along with other operational issues stemming from the layoffs.

In the three months ending June 30, 2025, 529 college savings and prepaid plans saw one of their strongest periods of growth in years. The latest data from ISS Market Intelligence shows 17.3 million accounts holding $568 billion in assets, up from 16.8 million accounts and $508 billion a year earlier. That’s a 7.9% increase in accounts and an 11.8% jump in total assets over the same period.What makes this surge noteworthy is that it occurred before the full impact of the One Big Beautiful Bill Act (OBBBA). The new law, signed in July 2025, significantly broadens what families can pay for with 529 funds. While historically focused on higher education, 529 plans will soon be able to cover certain workforce training programs, licensing exam fees, and professional credentialing costs. The law also increased what's allowed for elementary education as well.This expansion has the potential to accelerate account openings and contributions in the second half of the year and beyond, particularly among families who see 529s as a tax-advantaged way to invest in both traditional education and career-focused training.

The week began with anticipation for the August 4 court status report in the lawsuit over the SAVE repayment plan. Borrowers hoping for clarity instead saw a short update from the parties indicating that discussions continue, with no agreed-upon timeline for next steps.The SAVE plan, designed to lower monthly payments for millions of federal student loan borrowers, has been blocked by court order since 2024. Under the injunction, the Department of Education cannot resume payments under the plan, leaving roughly 7 to 8 million borrowers in administrative forbearance. Interest on these loans resumed August 1, but no payments are due.Congress officially ended SAVE as part of the One Big Beautiful Bill Act, signed into law in July, which also created a new Repayment Assistance Plan (RAP) scheduled to begin July 1, 2026. Borrowers currently in SAVE are expected to move to an amended version of Income-Based Repayment (IBR) sometime between now and June 30, 2028, but the exact timing is still unknown.The next court update is scheduled for October 3. Until then, borrowers remain in a holding pattern, relying on estimated timelines rather than official announcements.

When families weigh their options for paying for college, the question “What’s the best student loan?” seems straightforward. But as we learned after asking five leading AI models (ChatGPT, Grok, Perplexity, Copilot, and Google Gemini) the answers can be incomplete, sometimes unclear, and occasionally misleading.Each tool offered a broad framework: start with federal loans, then consider private loans if needed. Yet critical details were often missing.In some cases, explanations failed to note that Direct Subsidized Loans require demonstrated financial need. None clearly spelled out federal borrowing limits, an omission that could leave families unprepared if federal aid runs short. Or even specific scenarios or borrowing order (such as borrow the student's Direct Loan first, then supplement with Private or Parent PLUS Loans).Last year, we discovered that Google's AI was getting financial answers incorrect 43% of the time. When it comes to student loan recommendations, the results were better, but there were still key misses in an areas where policy change, interest rates vary, and borrower protections shift frequently.

Demonstrated interest refers to the ways a student indicates interest in a specific school. This includes visiting campuses, reaching out to admissions officers, participating in prospective student events, and even interacting with the school’s online resources.Let’s face it: the college admissions process is notoriously competitive. Over the past few decades, getting into college has become increasingly difficult, with the average acceptance rate hovering just under 70% across the US.Gone are the days when admissions officers only looked at a prospective student’s grades and test scores. Now, students face a whole list of factors that schools secretly look for.Demonstrated interest is on that list. 

Taking money out of a 529 plan is more complicated than putting money into a 529 plan.If you do it incorrectly, you may owe taxes and a 10% tax penalty, plus recapture of state income tax breaks attributable to the distribution.If you're getting reading to take 529 plan distributions to pay for college (or K-12 tuition, student loans, or even a Roth IRA rollover), here's what you need to know so you don't end up receiving a tax penalty.

As someone who spent her freshman year at the University of Alabama (UA), I know firsthand how costly simply attending two semesters of classes can be there. Add to that the experience of Greek life, and your social circle isn’t the only thing that suddenly expands.Sorority hashtags and content exploded on social media, as universities eased Covid-19 restrictions and let students resume fall recruitment activities. This was especially true for UA, which is often used as the benchmark for recruitment across the country due to its size and funding.Earlier this year, Max (formerly HBO Max) released a documentary that examines UA rush through a magnifying glass. Whether you’ve seen the documentary, enthusiastically followed the #BamaRush trend, or you’re simply curious about the price that’s paid for Greek life, this article is a good starting point for learning about the true costs of sorority recruitment.I’ll break down the rush process, point out its main financial factors, and weigh the pros and cons of taking on Greek life.

There are three main options for college admissions applications: early action, early decision, and regular decision. Early decision applications involve a commitment to enroll if admitted. In contrast, early action is non-binding.Students who are admitted early action are not required to accept the offer of admission. They may accept or reject the offer of admission at the same due date as the regular admission pool, typically by May 1. Students who apply for early decision are limited to applying to just one college. Students who apply for early action may be limited to applying to just one college, called single-choice early action or restrictive early action. In some cases, restrictive early action colleges will allow early action applicants to apply early action to public colleges but not other private non-profit colleges. Some colleges with non-restrictive early action say that they do not share information about their early action applicants with other colleges, allowing the student to apply early action to more than one college. Here's a full breakdown of early action vs. early decision vs. regular admission.

Economic uncertainty has been known to drive adults back to school to boost their educational credentials.Now, that the pandemic is over but there is still a lot of economic uncertainty, and student loans are restarting, more and more adults are wondering if it makes sense to go back to school.If you're considering going back to school as an adult to earn a higher education degree, you'll want to carefully weigh the pros and cons. Let’s explore whether or not going back to school as an adult may be worth it for your situation.

The PSLF Buyback Program allows you to "buy" missing payments that would have allowed you to qualify for loan forgiveness.To qualify for the Public Student Loan Forgiveness, you must have 120 months of qualifying payments made while employed in a qualifying public service job. Here's what you need to know.

When students prepare to apply for college admissions, they should start to make a list of colleges they want to apply to.When crafting a well-balanced college list, students should apply to a variety of colleges, considering financial fit in addition to academic fit. They should also include at least one financial aid safety school and pick three dream schools instead of just one.Here's how you should craft a college list, with a focus on both academic and financial fit.

Wondering which students and families actually get merit-based scholarships and grants at private colleges? We have the data.Parents of college-bound children who are considering high-cost private non-profit colleges often wonder how to qualify for institutional financial aid. These grants and scholarships may or may not really be based on merit, but rather function as a discount on the cost of attendance.Students who want to increase their chances of receiving an institutional merit grant at a private non-profit 4-year college should apply to moderately selective colleges (especially higher-cost colleges), have stellar grades and test scores, pick wealthy parents, do not take a gap year and enroll in college full-time.We look all the statistics of which students are getting institutional merit grants.

Student loan forgiveness applies to a variety of degrees, even trade schools. So even if you went to a trade school, vocational school, or apprenticeship program, you could be eligible to get your student loans forgiven. If you attended school for HVAC repair, cosmetology, the culinary arts, or any other trade program, your student loans could qualify for one of these student loan forgiveness programs.We cover the factors that make trade school student loans unique, and how you can figure out whether your trade school loans qualify for loan forgiveness.

Paying for college isn’t just about covering tuition. It’s about understanding what happens when life takes a turn and what protections exist if it does.Each year, families across the country commit thousands of dollars toward college without fully understanding the terms behind the payment. If a student gets sick or has to take a leave during the semester, even for a serious medical reason, many schools don’t refund tuition. Housing and fees can be nonrefundable. Grants may be forfeited. And student loans may still need to be repaid, even without a completed term to show for it.That’s why understanding school refund policies and looking into tuition insurance before the semester starts can help families avoid financial stress if a student’s college experience is interrupted. With tuition topping $25,000 a year at many public universities and twice that at private schools, a few hours of research can mean the difference between peace of mind and unexpected debt.We’re partnering with GradGuard to help you understand how tuition insurance can protect your investment. GradGuard is a leading tuition insurance source, with affordable coverage. Get a quote or learn more here >>

After years of payments, pauses, and paperwork, many public service workers are confused on what payments and time periods may count for Public Service Loan Forgiveness (PSLF).However, there are also more options to have qualifying periods count - thanks to the PSLF buyback program.If you've been stuck in the SAVE forbearance, served in the military, or paused your payments for economic hardship, you might be closer to loan forgiveness than you think.But there’s a catch: the buyback program is only available to borrowers who are already near the finish line.It also raises a question: if you’re just a handful of months away from forgiveness and in forbearance, should you apply for buyback? Or wait and risk getting stuck? Or switch repayment plans and start making payments again?

College move-in day is filled with excitement, but new students often learn quickly that shared living spaces come with unexpected risks. And if you’re not careful, even small accidents can be expensive.From laptop spills to missing laundry, a range of common mishaps can cause financial stress. In partnership with GradGuard, we’re going to highlight the most common dorm disasters you can face. GradGuard Renters Insurance Plan can help you manage the financial aspect of these disasters and you can make sure that you’re protected financially if something happens. Get a quote here >>As you settle into dorm life, understanding these risks and how to manage them can prevent bigger problems later on.