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The latest news, trends and information to help you with your recruiting efforts.

Posted June 23, 2009 by

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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Posted March 30, 2009 by

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.

Posted April 29, 2008 by

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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Posted October 11, 2007 by

Saving for College During the Elementary Years

How to Start Saving Early Through Scholarships and Shopping

Provided By: Associated Content, Inc.

Many of us with children in elementary school dread the day that we’re faced with bills for college tuition. We talk about our children going away to college to become veterinarians, lawyers, and even writers and race car drivers (hey, they have their own dreams), but who is going to pay for this education and more importantly, how.

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Posted February 05, 2007 by

What To Do If . . . You Haven’t Done Enough Financial Planning

Well, your part just got bigger. Before visions of college degrees start dancing in your head, some serious financial planning has to take place. There are forms to fill out, strategies to be devised, and eventually a tuition check to be written. But there’s also help along the way—if you know where to look. Here are three steps to take that will help you pay for the college education of your dreams.

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Posted February 05, 2007 by

How To Get Your Fair Share

Students who are determined to pay less for college don’t just fill out their financial aid form, sit back, and hope for the best. They come up with an organized plan to make sure they explore all the aid that may be available to them. They know that diverse financial aid packages consist of funding from four major sources?the federal government, their state, their college, and private scholarships. And they don’t forget that old saying: every little bit helps.
You can make sure that you don’t miss out on college cash, too. Review the basics of the four major financial aid sources for undergrads, then read our profiles of students who tell exactly how they have paid for college. As their stories show, a higher education may not be cheap, but if you take an active role in the financial aid process, you can afford it.

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Posted January 29, 2007 by

Stretch Your College Dollars

Try these money saving tips:
Be a Joiner. Not only will you make friends by joining a club, but you may also score some free refreshments at meetings.
Cruise the Campus Events. Instead of splurging at off-campus theaters and concert halls, check out the offerings around the quad.
Use that Meal Plan. Skip the take-out pizza and Chinese food and head over to the dining hall. Many colleges charge you for a meal plan whether you use it or not. Might as well get your money’s worth.

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Posted January 05, 2007 by

Why College Education is So Expensive

Graduating college seniorsThe College Board recently announced that the average tuition increases outstripped inflation “only” by 50 percent this year, which is actually down from the even more ridiculous excesses seen earlier in the decade. For 2006, the average cost of attending college increased by 6.3 percent at state institutions and 5.9 percent at private colleges and universities. The overall rate of inflation last year was 3.82 percent. So that’s the good news, sort of, but why is the cost of attending college going up so much faster than the rate of inflation?

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Posted September 06, 2006 by

Saving for College: A Parent’s Guide to 529 College Savings Plans

If you’re like most parents, saving for your children’s college education is a priority and a big challenge. Tuition and related costs at both public and private universities have been rising at 5% per year or more, far exceeding the rate of inflation. To put that into perspective, a child born in 2006 should plan on $110,000 in total expenses for four years at the average in-state public college; $300,000 for four years at a private university.

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Posted August 07, 2006 by

529 sunsets eliminated

From the newswires: Legislation has removed the sunset clauses for 529 savings plans, making them a now-permanent fixture of the college savings landscape. If you’re a parent who has been looking at savings options for college and have been hesitant about 529 plans because they might become taxable in 2011, your worries are over – 529 plans and their tax benefits are now permanent. (or will be very shortly)
Covered in today’s Financial Aid Podcast.