57% of Employers Offer Tuition Reimbursement

Even as tuition rates continue to escalate, the number of working adults re-entering the classroom to earn college degrees is on the rise. Many employers have picked up on this trend and are seizing the opportunity to offer a valuable benefit to their workforce. TheBenefits USA 2012/2013 survey results found 56.6 percent of employers now offer tuition reimbursement to all employees, which is a significant increase from 34.9 percent reported in 2009.

“Enrollment rates are expected to continue rising, and companies offering tuition reimbursement to their employees are putting themselves in a competitive position,” said Amy Kaminski, director of marketing for Compdata Surveys. “Not only are employers creating a stronger workforce, but they are arming themselves with a valuable tool in employee retention, as reimbursement benefits are becoming increasingly important to their employees.” Continue Reading

529 College Savings Plans See Record Growth in the First Half of 2012

If prospective students are looking to save money for college, they may want to learn more about 529 plans.  It seems this year, many people are taking advantage of them.

The College Savings Plans Network (CSPN), the nation’s leading objective source about Section 529 College Savings Plans and Prepaid Tuition Plans, recently released its 2012 mid-year 529 Report which found record-level growth for college savings plans. Based on data collected by CSPN from all 529 plans in the country, including 106 savings and prepaid tuition programs, the mid-year 529 Report shows that for the first half of the year, total assets and total number of open accounts have reached nearly $180 billion and 11 million, respectively. Continue Reading

Cost of Private Colleges Falls Even As Costs Skyrocket for Public Colleges

Here’s the average sticker price and average net price for tuition and fees at public and private colleges in the U.S. over the past 15 years:

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Honor Student Has Baby, Loses Healthcare, Becomes Homeless, But Now Back in School

MoniKea Hatten of Glen Ellyn, Illinois had always been a good student and driven to succeed even though she grew up without much support or the means to accomplish many of her goals. She lost her job in 2007 and enrolled at the College of DuPage in an effort to upgrade her education and make herself more marketable to employers and a more productive member of society.

In 2010, MoniKea Hatten was an honor student but also pregnant. She was unable to finish a summer course scheduled to end July 27th because she delivered her baby on July 12th.  Because she didn’t complete the course, she lost her financial aid.

In 2011, MoniKea turned to WorkNet DuPage to see if they could help her find a way to continue school. Many barriers, however, stood in her way. She had no means of transportation and soon became homeless. Paying for childcare was out of the question. Roseanne Deane at WorkNet recommended a program called LEAP at People’s Resource Center. MoniKea called. “My life has never been the same,” she said. “LEAP gave me provisions for transportation and incentives to help pay for childcare. I didn’t have much money, and it was very difficult to travel 4 ½ hours every day using public transportation from a shelter in Villa Park, but I did it.”

PRC taught MoniKea how to network, and today she is working and continuing her education. She credits LEAP for both. Currently, she is looking for housing for her son and herself. “Everything’s a stepping stone to my destiny,” MoniKea said. “PRC is my home, and the people at PRC are my family. Any young person seeking change should check out PRC. They push you forth into your life. Seriously, they will work with you until you are on your way.” Continue Reading

College Dropouts Lost $3.8 Billion in Income in 2011

Sixty-eight percent of those who dropped out of college in 2011 stated that they blamed financial circumstances and lack of time for dropping out. According to the Department of Education, only 50 percent of this year’s freshman will graduate within five years. As bad as that sounds, a staggering 59 percent of low-income students are expected to drop-out before earning their four-year degree and the disparity is growing between their rate and the 34 percent rate amongst high-income students.

Sheila Danzig, founder of TheDegree.com said, “Students need to take advantage of what is available to them to ensure that they have the best chance at successful career. Many can test out of courses over a summer break and take less time to complete a degree.” Continue Reading

Student Loans About to Top $1 Trillion and Surpass All Credit Card Debt

With the average American household bringing in $50,221 a year, many parents face a serious dilemma on how they will pay for their child’s college education. “What happens when their child gets accepted into the college of his or her choice only to discover that it costs over $50,000 a year?” asks Forrest Broman, President of The International Educator, a newspaper that reports on news and trends in the field of international education.

“Even with scholarships and financial aid that still leaves a huge out-of- pocket expense, one for which most families are unprepared for,” said Mr. Broman. “Double or triple that amount if they have more than one kid of college age, or approaching college-age,” he estimated. What does that leave cash-strapped families to do? Borrow. Continue Reading

Think College When They Are in Diapers!

In 18 years, a degree from a public school will cost around $200,000 and a private university will run closer to $400,000, according to the College Board, which administers the SAT standardized college admissions test.
Adapted from “The Wall Street Journal Financial Guidebook for New Parents,” by Stacey L. Bradford. Copyright 2009 by Dow Jones & Co. Inc. Published by Three Rivers Press, an imprint of the Crown Publishing Group.
For most of us, the only way to accumulate that kind of cash is to start setting money aside while our kids are still in diapers.
How?
529 Basic College Savings Plan
The 529 plan is a tax-advantaged savings account that allows you to invest money today and withdraw the funds free of federal income taxes, provided the money is used for qualified college expenses.

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College Students Can Invest in Their Futures With CDs

Whether the economy is going through a boom or a bust, it’s always a good idea to save money, especially for college students. Sooner than you think, you’ll be tossing your mortar board in the air and embarking on a bright and rewarding future. Just remember that unless you were lucky enough to have a full scholarship or very wealthy parents, student loans are likely to be as much a part of your future as your brilliant career. By saving part of the money earned from internships or part-times jobs in certificates of deposit (CDs), you could have a nice little savings waiting for you after graduation.
Although they fluctuate constantly, some of the best CD rates are available right now. The minimum CD amount that most banks will allow is $500. You can select a maturity (pay out date) of six months (sometimes nine months), one year, two years or five years for your CD. For example, a freshman college student who bought a five-year, $500 CD could let it earn interest at the current rates, then when it matures, he could use it to make a substantial payment on his student loans.
Web sites like SelectCDRates.com can help you find out what the average CD rates are nationally or what the current rates are in a particular state. Investing your money, especially during a down economy, in conservative assets like CDs can help any student to be better prepared for what he has to face after graduation, whether it be student loans, buying a new house, or relocating to start a new entry level job.

Does UPromise Live Up to Its Name?

I recently read a review of UPromise written by a blogger named modernmarvel. She’s a lawyer and a mother of three who has, so far, saved $500 – with the help of family and friends – through UPromise.
Although modernmarvel doesn’t knock it, she does have some things to say about UPromise that aren’t too promising (no pun intended).
Her first caveat comes in the form of a condition that must be met by all members who hope to retrieve the money they’ve saved … they must have “529 Plans” for their children. The 529 College Savings Plans – from section 529 of the IRS tax code authorizing them – are much like 401(k) plans. They are sponsored by states, state agencies, or educational institutions and come in two forms, prepaid and paid.

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Saving for [Your] Child’s College Education: Better Start Today [Instead of] Tomorrow!

Provided By: Associated Content, Inc.

College education is getting more and more expensive as days pass on and it becomes harder and harder to fund your child’s education. Inflation is hitting hard on tuition cost for college education. If you have a new born today he may need about $250,000 to $500,000 depending on type of college.

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