Should Parents Cosign Student Loans or Take Out Parent Student Loans?
While most federal student loans don’t require a credit check, there are still scenarios where students need good credit to borrow money. After all, private student loans do require a credit check and are typically only available to borrowers with good or excellent credit scores. Not only that, but some government-backed loans like Direct PLUS loans do require a credit …
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You Still Have $10,000 in College Costs to Cover: What Are Your Options?
According to updated figures from CollegeBoard, average tuition and fees for the 2019-2020 school year worked out to $10,440 for public, four-year schools nationwide. Meanwhile, tuition and fees at private four-year schools worked out to $36,880 per year. With these numbers in mind, it’s not surprising that some students run out of money in between academic years or even during …
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The Best Ways to Reduce the Interest Rate on Your Student Loans
Compound interest can be absolute magic for your finances if you’re investing your money or stashing savings in a high-yield savings account, but the opposite is also true. Compound interest is often charged on student loans as they capitalize, which means that interest is charged on interest that has accrued. Add to the fact that rates on student loans can …
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Here’s Your Plan to Retire in Ten Years
The average American has only a little over $200,000 saved for retirement by age 65. It’s a small wonder that 50% of married couples and 70% of individuals receive 50% or more of their retirement income from Social Security. But that doesn’t have to be you. In fact, you don’t even need to wait until you’re 65 to retire. It’s …
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529 College Savings Plan Options For Illinois
Update 6/09/2020: Since writing this post I now have 3 sons and a daughter! Also, Illinois has increased their state tax rates!! My family also now lives in Tennessee. As our son rapidly approaches the age of two, the scary reality that paying for college tuition is just around the corner. We were fortunate enough to start a 529 College …
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FreeTaxUSA Review
Doing your own taxes can be an overwhelming and confusing task, especially if you don’t have sufficient experience in tax return filing or if you have a complicated situation. Since hiring a CPA or other professional can be cost-intensive, many people opt to undertake the task themselves. Tax software became increasingly popular for preparing and filing federal and state returns, …
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