100 Cost-Effective Articles - Education
The following titles are currently available. Read the abstracts below for a thumbnail synopsis of each article's full text.
To order, call 1-800-722-7270 ext. 135 today.
Planning for College Tuition Hikes
For most people, a child’s college education is the second most expensive purchase (after that of a home) they will ever make. According to The College Board’s Trends in College Pricing 2006, the average annual cost of tuition, fees, room, and board at a four-year public institution is $12,796 for the academic year 2006–2007. For a private institution, the cost is $30,367. Public colleges and universities experienced a 5.6% tuition increase from the prior year, 2005–2006, while private colleges and universities experienced a 5.7% tuition increase. Estimating a college education’s cost, and the required savings to pay for it, is difficult, but the following tables can help you make an educated guess.
(685 words)
Payback Time: Facing Student Loans
It takes four years, on average, to graduate from most colleges and universities. During that time, students can build up some hefty debts. But, for many people, the degree is certainly well worth the burden of accumulated debt. So, these questions remain: How should you repay the debt? And, are there any plans that can help make the "payback" easier?
(493 words)
A Short Course in Budgeting
One "extracurricular" activity that every student should master while in college is personal money management. Typically, a student's day-to-day spending is done on an improvised basis, meaning that overspending is often the norm rather than the exception. It is estimated that during a school year the average college or university student will spend over $3,000 for books, supplies, transportation, and personal expenses (Trends in College Pricing—2007, The College Board). However, there is often room for economizing.
(502 words)
Education Savings with a Coverdell ESA
If you're thinking about ways to fund your child's education, the federal government has provided an incentive—the Coverdell Education Savings Account (Coverdell ESA), which was formerly called an Education IRA. Contributions are not deductible, but tax-free withdrawals can be made when used to pay for eligible education expenses. Coverdell ESAs can be used to save and pay for more than college expenses. They can now also be used to pay for elementary and secondary school expenses, including the purchase of computersystems, educational software, and Internet access for the child.
(505 words)
Education Funding Options for the Growing Family
You just received the wonderful news that you and your spouse are going to become parents. Thoughts of the many adventures that parenting will bring are swirling through your head. The last thing that may be on your mind is paying for college, but thinking about it now may save you later. The cost of a four-year degree at a private college averages over $120,000 (Trends in College Pricing—2007, The College Board). Even if you are aware of the importance of saving for an education, you may be unsure as to what options are available to you. This article explores the most common college savings vehicles.
(635 words)
Funding 529 Plans with UGMA/UTMA Assets
The Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) made 529 plans more attractive to investors saving for college. Earnings in a 529 plan have the potential to grow tax deferred, and withdrawals made for qualified higher education expenses are federally tax free. Prior to the popularity of 529 plans, many people saving for their children's education opted for either a Uniform Gifts to Minors Act (UGMA) account or a Uniform Transfers to Minors Act (UTMA) account, depending on their state of residence. For investors looking to enjoy the tax benefits 529 plans offer, it is possible to fund most 529 plans with assets from an UGMA or UTMA; however, the rules governing the custodial account still apply.
(685 words)
Tips for College Financial Aid
If one or more of your children will reach college age soon, you may be wondering how you will pay for all the costs. For many families, tuition may be covered by a financial aid package. This often includes grants, scholarships, loans, or work-study placements. Aid is primarily based on the family's need. If it is determined that you are able to afford the cost of college, your quest for assistance is going to be difficult, but not impossible. Forms must be filled out in order to ascertain if you qualify for aid. Certain calculations can help you get an idea of your eligibility before applying for aid.
(843 words)