Saturday, November 15, 2014
Opportunities like these warrant the services of a reputable college funding solutions specialist like John McDonough of Studemont Group College Funding Solutions, LLC. Finding the right school and/or applying for the right scholarship can be quite intimidating, particularly without enough knowledge about the different grants and programs available. Taking other factors like cost of living and study schedules can make the process even more complicated. College funding specialists can help parents and their children take advantage of the funding solutions available to them. For example, undergraduate transfer students who failed to meet the requirements for the Undergraduate Transfer Scholarship program might want to move to states that have ‘reciprocity’ for reduced tuition, like California. However, they’ll need to stay in these states for at least a year to establish residency, which is required for students to become eligible for the smaller rates.
Thursday, November 13, 2014
Investing in qualified tuition plans, commonly known as 529 Plans, is a popular way of saving for a child’s college education. Created under Section 529 of the Internal Revenue Code, these state or university-sponsored plans can greatly help in paying for the college education expenses of the account holder’s beneficiary. Not all 529 Plans, however, are created equal. Chicago-based financial research firm Morningstar annually rates 529 Plans, mainly according to required fees, quality of supervision or oversight, and investment options. From their latest evaluation, it appears the size of a plan’s assets does not necessarily determine its favorability.
Tuesday, November 11, 2014
A person’s college aspirations usually start once he or she hits high school. During these times, it would be best for prospective college students to start looking for colleges that would be a good fit to their interests and aspirations. Identifying potential colleges and universities early also has financial benefits. For one, it will help cut down on application fees, which has an average of $38. As Nerd Scholar author Gianna Sen-Gupta says in an article, applying early means getting the results early, and if one gets admitted to a choice college, he or she would not need to apply elsewhere and pay more application fees.
Sunday, November 9, 2014
Student loans are some of the most persistent debts in existence. Private loan interests start to accrue upon disbursement of funds, while interest for federal loans start six months after graduation. In later years, many people find themselves choosing between paying off their debts and saving up for retirement. Given the long term ramifications of student loans, careful planning for college funding is very important. College financial planning experts like John McDonough of Studemont Group College Funding Solutions, LLC can help parents come up with solutions that will be most viable and less of a burden for both themselves and their children in the future.
Friday, November 7, 2014
As reported on CNBC.com, during the Inc. GrowCo conference in Nashville, TN, businessman and Dallas Mavericks owner Mark Cuban proposed putting a $10,000 limit on student loans to limit student debt, which now stands at a staggering $1.22 trillion. He said this would hopefully urge universities and colleges to control their spending and lower tuition fees. At first glance, Cuban may well be earning the ire of cash-strapped Americans. A 2013 report by College Board puts the average expenses for a four year course in a private university at $30,094, excluding room and board; and $8,893 for in-state students at public institutions.
Wednesday, November 5, 2014
The choice of college is certainly one aspect expert college financial advisors, such as John McDonough of Studemont Group College Funding Solutions, LLC, can help you in. With these professionals’ experience and knowhow, they can help students and their parents find the institution that could offer the right balance between repute and affordability. College selection is just among the many strategies knowledgeable college planning advisors may present to their client. They can also help parents go through the various solutions available to them, such as government and private aids, and student loans, to come up with a plan that will make quality college education more affordable.