The College Investor Audio Show

CDs (or certificates of deposit) are low-risk savings vehicles offered by banks, credit unions and many other financial institutions.Individuals can commit a certain amount of money for a specific period of time, and the issuing bank commits to paying a specified rate of interest.CDs generally have terms ranging from a few months to several years, and usually offer higher yields than savings accounts. But with over $1 trillion in CDs maturing in 2025, investors have some big decisions to make.

Dual enrollment allows you to earn college credit while you’re still in high school. Doing so can help you save money on the total cost of your education while preparing you for a more rigorous course load once you start college.A 529 plan can be used for dual enrollment but there are some things you should be mindful of before you withdraw funds from your account.

If you've come into a windfall of money, you might be wondering what is the best way to invest $50,000 (or even more)?With a large amount of money to invest, you have several different options. There is no single "right answer" that will work for everyone—instead, what works for you will depend on your own unique situation. But being aware of the different options helps you make the best choice.And note - there might be some things you want to do before you invest such as paying off debt. Let's talk about some of these options.

529 plan performance is tough to measure - it's not just the investment returns, but it's also about the tax benefits and fees.Minimizing costs is usually key to maximizing returns, but not always. Sometimes, state income tax breaks can compensate for the cost of 529 plans with higher fees. So, how can you find the best 529 plan for your state and situation?A more focused analysis of 529 plan portfolio performance net of costs and state income tax breaks yields results that differ from traditional 529 plan ratings.Let's break it down.

Don't you wish you could lower your student loan payment? It's possible, and legal, do work some "magic" to get your student loan payment lower.If you don't do anything with your student loans, you're automatically signed up to a generic repayment plan that typically has even payments for 10 years. However, that can be tough, especially right after graduation.Maybe you've just started working, or maybe you don't even have a job yet and you're just side hustling to make a little money? Maybe that standard repayment plan option just isn't working for you, and you're worried what will happen if you don't make a payment or you default. Maybe you haven't looked at your student loans since before the payment pause?If you're considering student loan deferment or forbearance, or if you're thinking about simply ignoring your student loan payments, don't!Here are five legal ways that you can lower your student loan payment so you don't have to go into default.

You know you want to invest. You know you need to invest. But honestly, how do you start investing in your 20s after college?Who do you trust? Do you pay someone to help? How do you know you're not going to be ripped off? Or even worse - how do you know you won't lose all your money? If you want to invest after college, here are our thoughts.For 20-somethings, investing is important, and you know it. In your 20s, time is on your side, and the more you save and invest now, the better off you'll be later.But, frankly, getting started investing after college is confusing. There are so many options, tools, thoughts, blogs to read about, and more. What the heck do you do?I'm going to share my thoughts on what you should do to start investing after college in your twenties when you're 22-29 years old. Let's dive in.

Applying to college may be the most stressful thing you've encountered in your life so far. Depending on the college you're applying to, you may have to submit grade transcripts, test scores, evidence of extracurricular activities, essays, and references. But one thing that colleges will almost never ask you about is your high school attendance. It's important to note that many high schools do include attendance information as part of your grade transcript. However, in almost all cases, colleges will not look at your high school attendance record.

Our parents had it rough during tax season. Doing their own taxes sometimes took a week or more. They’d spread papers and receipts across the kitchen table. Then they’d punch numbers in a calculator and flip through the IRS’s annual tax guide until ink coated their fingertips.Yikes!Today, thanks to tax software and other innovations, we can do our own taxes with fewer headaches. In fact, doing your own taxes with tax software should likely take you less than an hour (even less if you're organized). And new apps even allow you to do it on your phone!Here's what you need to know about how to do your own taxes!

As you start to consider where you’ll go to college, affordability is typically top of mind. The cost of higher education in the U.S. can be daunting, but understanding financial aid policies – and identifying need-blind colleges – can make the process less overwhelming. If you’re unfamiliar with the term “need-blind,” it refers to an admissions policy in which a college chooses not to consider a student’s financial situation when making the decision on whether to admit that student. Here’s everything you need to know about need-blind schools and how they might impact your college decision.

Christmas is over! Now it's time to handle all of the unwanted Christmas gifts that you're stuck with. Hopefully you have a family full of awesome gift-givers, and you want to keep everything you got. But the fact is, most of our families are terrible gift givers, and you probably have a bunch of Christmas gifts you don't want or need.So what should you do with these unwanted gifts? Well, not all hope is lost. Here are some ways that you can turn those unwanted Christmas gifts into cash.Are you ready to earn money from those unwanted gifts?

The competition to get into medical school is intense, and you need to be prepared. Start your planning with our medical school admissions guide. Learn more.

Financial aid consists of loans, scholarships, and grants that help cover the cost of college. Depending how much you need to pay for books, tuition, and housing, you may have some money leftover in your bursar’s account.What should you do with unused financial aid money? Should you spend it or save it for the future? More importantly, can you return it if you don’t need or want it?Let’s dive deeper into the pros and cons of unused financial aid money and whether or not returning it is the right move to make.

If there’s one thing you’re certain to encounter in college, it’s group projects. Some students love the collaboration, while others dread the challenge of coordinating and communicating with classmates.And while many might warn you to prepare yourself for uneven workloads, unclear expectations, and endless group chat notifications, it’s not all bad.Group projects don’t have to feel like a chore. In fact, they can actually create opportunities to learn essential skills, such as collaboration, leadership, and problem-solving. The secret to success lies in preparation, communication, and strategic planning.With the right approach, group work can be a rewarding experience for everyone involved – and a chance to deliver results that are better than what you might have achieved on your own.

Graduate school is an opportunity to advance your education and further your career. While post-pandemic applications are up, actual enrollments are down, so right now is as good a time as ever to send in your application.One huge perk of graduate school is that your career earnings are likely to be higher than if you only had a bachelor's degree.For 2022, the Bureau of Labor Statistics reported an annual median wage difference of $11,908 (or $229 weekly). And that’s just the difference between a bachelor’s and a master’s – other professional or doctoral degrees can lead to even higher annual incomes.

In today's world of data breaches, online banking, and online shopping, it's essential that you take practical steps to keep your financial information secure. Unless you’re an unbanked person, most of your personal and financial information is online.That means it could be accessible to hackers and thieves who can cause headaches (and financial loss) as you try to clean up their mess. Keeping your information as secure as possible will help you avoid these headache and keep your finances moving forward.Whether you’re more worried about nameless hackers, nosy roommates, or kids who want to use your credit cards, here are a few of the best ways to secure your financial information.

You’re reading this because it is likely that a year from now, you will be getting ready to attend a college to pursue a major you’re excited about. But how does the college admissions process even work?At this point, you’re on an information highway that all seems confusing and blurry because of the number of things you have to think about in order to attend college next year.PSATs, SATs, letters of recommendation, choosing a major, and visiting college campuses are most likely piling up on your agenda — or will be soon.And hopefully, a year from now, you would have landed that coveted spot at the university of your choice. But how exactly does the college admissions process work? How do you get from here to there?While it works differently at different colleges, there are common themes that run through the college admissions process and the goal with this post is to show you what you can expect as you go through the process.

With tax season quickly approaching, you’re probably seeing ads for refund anticipation loans. Refund anticipation loans (also known as refund advance loans or tax refund loans) are a form of secured debt. A lender (usually a tax preparer) will give you an advance on your tax refund (often up to $3,000). In exchange, the tax preparer will pay the loan back (both principal, interest and fees) when the refund arrives at the preparer’s office. Then the remainder of the refund will then be passed to you. These are some of the pros and cons of taking a tax refund advance loan.Now, here’s what you need to know about tax refund advances.

Borrowers often believe that student loan servicers get to keep the interest on the loan. But it doesn’t work like that.Servicing companies collect payments of principal and interest on behalf of the loan holder (the Department of Education in the case of federal loans). In exchange, they're paid a monthly fee for each loan serviced.So how much do federal student loan servicers make per loan?

Student loans are back in repayment, and starting in 2025, that also means that collection activity has resumed on student loan debt. Could your student loans cause you to see your tax refund garnished?According to data from the Department of Education, around seven million borrowers have defaulted on their student loans. Those who are in default could risk having their tax refund seized come tax time.You might be planning on getting a tax refund in 2025 but if you’re in default on your federal student loans, your refund could be at risk. Here’s what you need to know about how tax refund garnishments work and how to stay out of default to avoid losing your refund.

Deciding what college to attend is a big decision. It could potentially affect your entire life. But will it? Does what college you go to actually matter?Prestigious schools definitely have some benefits, such as networking opportunities and name recognition on your resume. But do the benefits outweigh the costs?Public schools and community colleges can both offer a high quality education at a fraction of the cost. But are you giving up opportunities that a name brand school could give you?Society values education and they may respect education from a prestigious college even more. Is there proof that prestigious universities offer more opportunities and financial footing, or is it just a dream we’re bribed to fall into?

529 plans offer a dedicated way to save for education costs. Generally, parents or grandparents open up 529 accounts to build up a war chest for the beneficiary to eventually use on college or other educational costs. Since the primary contributor to a 529 isn’t the beneficiary of the account, the ownership rules might feel a bit murky. We get clear on 529 plan ownership rules in this guide. 

It’s almost tax refund season, and if you’re anything like the average American, you’re excited to get your hands on your refund check.But how are you supposed to cash your tax refund check if you don’t have a bank account? Using a check-cashing outlet can involve expensive fees. Plus, it’s risky to walk around with thousands of dollars in cash in neighborhoods that are often dangerous.Want to avoid excessive fees and keep your cash safe? Here are a few ways to get your tax refund when you don’t have a bank account.

If you or your family have saved money for your education within a 529 plan, you can use those funds to pay for qualified education expenses without tax implications. But how about students who opt to attend a trade school instead of a traditional college or university? Can you still use the funds in your 529 to cover college costs. We explore what the funds in your 529 can be used for, whether apprenticeships are eligible, and share some tips of how to fill any potential funding gaps. 

The student loan problem is complex and has multiple underlying causes. Rising college costs, increased student borrowing, complicated repayment options, and a lack of adequate oversight have all contributed to the problem.Several stakeholders share responsibility for this crisis: federal and state governments, educational institutions, loan servicers, private lenders, and even individual borrowers who may not fully grasp the long-term implications of their loans. Colleges have raised tuition faster than inflation, and government grants have failed to keep pace with increases in college costs, pushing more costs onto students and their families. Loan servicers and lenders have also been criticized for misleading practices, and many borrowers lack access to sufficient financial education before taking on debt.Solving the student loan problem requires a comprehensive strategy, not a single solution. Addressing the problem will require a multifaceted approach involving policy reforms, simplifying the student loan programs, and better regulation of college costs and lending practices. Additionally, increasing financial literacy can help students make more informed decisions about borrowing and repayment.Ultimately, understanding the root causes of the student loan problem is key to developing effective and sustainable solutions.

Curious about how AI answers work in personal finance? Hint: not very well. In fact, so bad that you could really hurt your finances.Robert joined the Stacking Benjamin's podcast to discuss AI in Finance, including sharing the results of The College Investor's recent AI Study.Check out the full interview here!

We break down the potential average net worth of Gen Z by age, based on available data from the Federal Reserve, as well as other assumptions.

How much ​your student loan interest rate really matter when it comes to repaying a student loan? What is the impact of interest rates on loan payments?The truth is: not that much.One of the most popular "alternatives" to blanket student loan forgiveness has been the argument that the federal student loan interest rate should be set to 0%. But given the wide array of student loan forgiveness programs and other assistance - does your student loan interest rate really matter?Let's look at how the interest rate impacts your student loans.

According to a new report from John Burton Advocates for Youth (JBAY), College Cash Uncovered, there are significant discrepancies between colleges’ published cost of attendance (COA) budgets and the actual expenses students face. These discrepancies contribute to college affordability challenges and inadequate financial aid. This leaves some students with financial gaps of $10,000 or more.John Burton Advocates for Youth (JBAY) is a nonprofit organization that focuses on improving the lives of youth who have experienced foster care or homelessness. They work on policy advocacy and providing resources to at-risk youth, including stable housing, education, healthcare and financial support. The organization tries to address higher education access, financial aid and foster youth transitions into adulthood.

Today's episode is an interview Robert had with Shellee Howard from the College Ready podcast. He talks about financial literacy for teens and parents, the ROI of college, how to think about student loans, 529 plans, and more!We hope you enjoy the episode. If you want to learn more about the College Ready podcast, check it out on your favorite podcast platform.

Being placed on a college admissions waitlist can create a mixed bag of emotions for applicants. On one hand, it isn’t an outright rejection, but on the other, it can feel as though you're being left on the sidelines.After all the effort you’ve put into essays, interviews, and extracurriculars, being placed on a waitlist can be discouraging and frustrating. But understanding how a waitlist actually functions—and more importantly, what your odds of getting in might be—can help ease some of that uncertainty and inform your next steps.We’ll dig into how the college waitlist process works, factors that influence acceptance from a waitlist, and what you can do to improve your chances. We’ll also look at real data from UC Berkeley's 2022 admissions cycle to give you a sense of how waitlist odds play out in reality.

Many people wonder just how much money they actually need to retire. In fact, it’s actually one of the most common questions people ask in regard to retirement. However, it may not be the easiest question to answer, as there are so many variables—many of which are unknown.You can begin to grasp how much you will need to retire, though, by considering the following questions.

Debt settlement is widely talked about as a way to get out of debt, but not many people truly understand how it works.You may have recently experienced a financial hardship and are strongly considering consolidating your debts to relieve some pressure. Before bankruptcy, there are two main debt consolidation options to consider. The first is a debt consolidation personal loan. This is often for those who still have a good credit score and debt-to-income (DTI) ratio. The second is debt consolidation via debt settlement, which is what we will cover today. The debt settlement industry has had many companies that have been unscrupulous. In fact, the Consumer Financial Protection Bureau (CFPB) has repeatedly warned borrowers that dealing with debt settlement companies can be risky. Does that mean that all of these companies are bad and you should never work with one?​Let's look at how debt settlement works, its pros and cons, and the most common scams and red flags of unethical debt settlement companies. Here's what you need to know.

Here's our financial checklist of the best money moves you can make by the end of the year to maximize your savings and investments while minimizing your taxes.The end of the year can be a whirlwind. But the actions you take over these final months can have large impacts on your tax bill next April and your long-term financial health. By taking proactive steps now, you can ensure that your financial life is organized and primed for success as you head into the new year. Wondering which items are most important to add to your end-of-year financial to-do list? Below are nine money moves to make before the new year to boost your bottom line.

Embarking on the journey to higher education is a life-changing decision. One of the first and biggest challenges many prospective students encounter is whether to pursue a college education in-state or out-of-state. As you know, the average cost of tuition has been on an upward trajectory since sometime around the 1980s. College tuition at a public four-year university increased 9.24% between 2010 and 2022, averaging a 12% increase each year in that period. Not only does higher tuition mean greater costs for education, but it also means greater likelihood of finding yourself graduating with larger student loans. This is particularly concerning when the average student loan debt of recent graduates is $33,500. In this episode, I’ll dive into the reasons why opting for an in-state college might prove to be a better long-term decision for you. From location and affordability to in-state benefits and quality of education, I aim to shed light on the advantages of keeping your educational investment in-state.

This Halloween’s most terrifying stories have more to do with your money than goblins and zombies.In light of this spooky season, we’re sharing some scary financial statistics and facts about money that could happen to you. But no need to run screaming, we give you a few recommendations to help you if you’re ever caught in any of these situations.

Should you pay extra to have your tax prep fees taken out of your upcoming tax refund? It sounds like an appealing offer - paying nothing out of pocket. But is it really worth it?The help of a tax preparation service can make your life easier and potentially lead to savings on your tax bill, but having to pay up front for tax prep services can feel like a hit to your wallet. One option is to allow the company to take your tax preparation fees directly from your future tax refund. We explore when it makes sense to pay for tax preparation services, when it doesn't, and the logistics of paying.

If you’re a business owner, the end of the year can be a very busy time.With the holiday season on the horizon, you may be juggling the demands of your business while making space to spend time with family and friends. There are several things you can do by the end of the year to end on a high note and get ready for tax season. With only 12 weeks left, here are some things business owners should do before the end of the year.

More and more people are learning how to make money using AI (artificial intelligence). The impact of AI on freelancing has been the subject of plenty of discussion as artificial intelligence begins to transform how freelancers operate and get paid. With a wide range of tools available on several platforms, you can now leverage AI to improve your productivity and provide clients with cutting-edge solutions.In this article, we'll explore how AI can be used to perform various side hustles and freelance work, from content writing to affiliate marketing to video creation via YouTube.

How much will college cost for students aiming to enter in the fall? The most recent data on the average cost of college is out, and we're breaking down the details.If you’re a millennial or Gen Zer, you might have heard people in their 50s and 60s talking about working their way through college and graduating with little debt. Today, that seems impossible. And that has contributed to students graduating with an average of $30,000 in student loan debt.How much does college cost today? Is it worth it to pay that much for a college degree? Well, we have the data through 2023 (the most recent available), so let's break it down.In today’s post, we’ll talk about the average cost of a college education over time and how you can get the most for your money as you research and decide on which colleges to attend.

Most people should not refinance their student loans. However, for some niche situations, it can make sense to refinance your student loans.There are various potential benefits and drawbacks to student loan refinancing. So when you're trying to decide if you should refinance your own student loans, there are multiple factors to consider.The decision will often heavily depend on the type of loan that you have, whether federal or private. If you have federal loans and are currently taking advantage of one or more federal benefits, you might want to avoid refinancing so that you don't lose them.But even if you aren't currently utilizing any federal student loan benefits, that doesn't necessarily mean that you should rush to refinance your loans right now. Here's how to decide when you should refinance your student loans and how to get the lowest rate when you do.

If you have access to a reasonably reliable car, then congratulations! Making money driving is one of the best side hustles!A decent car is the biggest asset most Americans own, other than their houses. And there are a lot of ways you can make money driving or with your car!  In fact, I've seen some people try to raise fast cash by selling their cars.But what you might not realize is that there are a lot of other ways to make money using your car. If you have a car and don't mind driving it around, then you're well on your way to earning hundreds of dollars on the side every month.This has been true for decades — a paper route or a pizza delivery job has always meant using your own wheels — but the app-based gig economy and the Internet generally has vastly expanded the ease of getting paid to drive your own car. Without further ado, here are some of the best ways to start making money driving your car today.If you want other money-making ideas, check out our Side Hustle Ideas post.

The FAFSA – or Free Application for Federal Student Aid – is required for students who want help paying for college. The application is managed by the Department of Education and helps federal, state, and college-level programs allocate financial aid. This includes grants, federal work-study, and eligibility to qualify for student loans.How much aid a student receives depends on a number of factors including their personal finances. Because many college students receive support from their parents, the entire family’s financial situation is also taken into account as part of the application process.Filling out the FAFSA correctly is important if you’re expecting to receive financial aid to help pay for college. Small errors can impact how much you receive or whether or not you receive financial aid at all. These are the 10 biggest FAFSA mistakes you’ll want to avoid.

I was recently asked a question by a reader about the drawbacks of getting a private student loan.She asked why she shouldn’t get a private student loan, when interest rates are so low right now. She would need to cosign with her daughter on the loan in order to get the best rate.My advice was as follows: the biggest danger of a private student loan is that the cosigner is also liable for the debt. So, should something happen to her daughter, and she can’t graduate and earn income, she will be on the hook for the debt.However, there are options to protect parents when it comes to paying their children’s tuition – tuition insurance.Below, we’re giving you our best insights into tuition insurance and sharing our top picks for tuition insurance providers.

Let's talk about $10,000... how to get there and make it happen. Why $10,000? Because it's a number that's big enough to make a difference, but small enough to be achievable by most people who set out for it. And there are some crazy ways to make $10,000, so this will also be pretty fun!We recently discussed how to pay down $10,000 in debt in just one year. One of the strategies is to earn more money - but many people don't think they can earn $10,000 extra in just one year.Today, I'm going to show you some of the more unique ways that you can do it. In reality, there are countless ways to earn $10,000 more in a year. That breaks down to just $833.33 per month. If you don't like these more extreme ideas, here's a list of 50 ways you can do it more of "the old fashioned" way.Believe it or not, these have happened. And people can make good money doing it.

If you’re listening to this, you probably either have student loan debt or you’re about to incur student loan debt and you're looking for ways to minimize your student loans.With student loan debt balances on the rise, your best bet is to pay off your student loan debt as quickly as possible, or better yet, stop the debt from piling up by taking the preventative measures. Many graduates have to put their life on hold because of common student loan mistakes. Avoid making these mistakes and get rid of your student loans in 3 easy steps!According to USA Today, up to 68% of college graduates enter the workforce with student loan debt. Our study found that the average student loan debt at graduation is roughly $30,000. To minimize the impact, follow these 3 simple steps to avoid unnecessary debt from accumulating.

Today's episode is an interview Robert had with Chuck Jaffee from the Money Life Show. He helps answer a reader question: what happens if you have money saved for college in a 529 plan, but then your child (or niece or nephew) don't actually go to college. What are the options? If you're starting from scratch, should you still consider a 529 plan?We hope you enjoy the episode, and if you want to learn more about the Money Life Show, check them out on your favorite podcast platform.

Did you know that your student loans could get you fired?Imagine this: One day your boss pulls you into his office, sits you down, and says there is a problem. However, your work itself has been flawless. But he doesn't want to talk to you about work — he wants to talk to you about your credit report.You see, when you were hired, you agreed to let your employer run your credit report (maybe unknowingly, simply signing a form in your hiring packet). And now, for whatever reason, your boss lets you know that HR has concerns about your debt. Suddenly, you go from star employee to looking for a job.You already know that student loans suck. It's a fact of life. But did you know that your student loan debt can get you fired? It's happened, and here are eight reasons why, and what you can do to prevent it.

A FERPA waiver, when signed by a student, allows parents to gain access to academic records during college. However, this raises an interesting question: should parents push their college-bound children to sign?Many parents, accustomed to having access to their child’s academic records throughout high school, are surprised when they no longer have the same access once their child enters college. As a result, some parents may consider requesting – or even pressuring – their child to sign a FERPA waiver. But is this a good idea?We’ll explore the nuances of FERPA, the implications of signing a waiver, and the potential consequences of forcing a college student to comply.

Low-income students are half as likely to enroll in selective colleges as compared with high-income students with similar grades and test scores. This is called undermatching. These students are often academically talented and likely to be admitted.¹ ² Still, many end up at less-selective colleges, such as lower-cost public colleges and community colleges. Some don’t enroll in any college at all.Public policy advocates have claimed that very selective colleges are more affordable for low-income students, despite the higher cost of attendance. For example, Matthew M. Chingos wrote in a Brookings Institution article, “For low-income students, these colleges will generally cost them and their families less than a less-selective institution with a lower sticker price but fewer resources for financial aid.” But is this true? Does generous financial aid really make selective colleges more affordable than lower-cost colleges? Or are selective colleges just trying to shift blame for their failure to enroll more low-income students? Below, we take a deep dive into the data to answer those questions.

When you’re getting ready to attend college, it’s easy to get swept up in the excitement of the college application process. You start by considering state schools, liberal arts colleges, and other post-secondary options, then you apply to your short-list of schools.After some long waits, you'll start to hear back about acceptance decisions and financial aid packages. The whole process is so complicated and drawn out that it’s easy to skip the final step of the application process, withdrawing your application from schools you won’t attend.Withdrawing applications is a courtesy to other applicants (especially those on a waitlist), and it can give you a sense of peace to commit to a particular school. With this in mind, these are the things you need to know about withdrawing a college application.