Tag: Borrowing

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College Application or Marriage Proposal?

Applying to college isn’t simple.  Metaphorically, choosing a college can be like an arranged marriage—parents are involved in the choosing process, lifelong expectations are being weighted and future prosperity is being forecasted. “Dowries” are paid in the form of tuition, room and board, books etc.   Students seek a college that’s the “right fit“, dating …

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FAFSA Changes Release Date

The FAFSA or Free Application for Federal Student Aid, the government form required to apply for financial aid at any U.S. college or university, will be released on October 1, 2016. The October date is a full three months earlier than previous years, when the FAFSA was released on January 1. What the earlier release …

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“I Have Student Debt?”

[Sung to the tune of Heigh Ho from Snow White & the Seven Dwarfs] “I owe, I owe, so off to work I go…” Even though I remember singing this refrain in jest, Millennials, the current generation between age 18 – 35 , may not be so light-hearted. According to Bloomberg News in April 2016: A …

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And, You Thought College Tuition Was Expensive…

A new report from the Economic Policy Institute shows that in multiple states, childcare expenses are greater than college tuition… Related PostsThe Inside Scoop about the University of California Essay Prompt #1 Now that College Applications Have Been Submitted… AP Adversity

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The Middle Class Squeeze

In the last several years, our middle class clients are being confronted by flattening incomes and  college costs that have risen over 1000%.  More and more families are finding themselves not only planning to pay for college when their children are quite young, but asking for more financial assistance when their children are ready to …

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University of California Flagship Cuts Staff

The stress from the continuous reduction in state funding over the last decade has finally come to the University of California’s flagship campus, Cal Berkeley.  The Washington Post reported on April 13: a workforce reduction of about 6 percent that comes as the prestigious public flagship is moving to erase a large budget deficit. In …

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The Modern “Starving” Student

College alumni often joke about days as a “deprived” undergrad, only eating instant noodles—fast, filling meals on a limited budget—like a badge of honor.  Growing numbers of today’s college students, however, embody the literal meaning of “starving” college student. According to the Wall Street Journal: In 2010, the UC [University of California] system added a food-security …

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Welcome to the New Adulthood

For most of us, moving out of the parental units’ house is the ultimate signifier of adulthood.  So, what’s the threshold defining adulthood for the growing numbers of 25 year olds, who live with their parents (even after moving away for college)? Since 2002, parental co-residence rates have only risen:   And, in 2012:   Related PostsCollege …

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The Practicality of a College Education

Presented in addition to last week’s post about what faces Class of 2015 Graduates… From Zero Hedge, May 31, 2015 Related PostsCollege Admissions Season is Now Open The Deceptive (And Dreaded) Word Count Best or Worst U.S. States to Live for Health

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The FAFSA PIN is Now the FSA ID

When submitting the FAFSA or Free Application for Federal Student Aid to apply for financial aid at colleges and universities all over the United States, parents and students have needed a PIN number as their electronic signature.  Recently, Federal Student Aid has changed the PIN to an FSA ID, which will serve as an electronic …

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Ahead of the Curve: All About Financing A College Education

Thoughts from the news: Flip Side of Reducing Student Debt Is Increasing the Federal Deficit, New York Times, February 11, 2015—for every benefit, there is a cost Looking At Student Loan Defaults Through a Larger Landscape, Federal Reserve Bank of New York, February 19, 2015—student loan defaults are not only increasing, but also occurring earlier in …

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College Tuition Up 1225% Since 1978

As has been previously discussed, college tuition is increasing annually, and shows few signs of abating; however, at some point college education will be subject to the law of supply and demand.  As demand for college education continues growing – seen in each year’s record numbers of applicants, with total student debt growing beyond the record breaking $1.2 Trillion mark …

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The Bill Always Comes Due

An unprecedented $1.2 trillion in student debt has grown exponentially in the last several generations, showing few signs of abating. In less than one generation, college graduates have tripled their debt burden. According to the Wall Street Journal, over 70% of the Class of 2014 will graduate college with an average of $33,000 in student …

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Borrower Beware

Student borrowers aren’t the only ones defaulting on college loans… Chart source: Department of Education & Inside Higher Ed   Related PostsCollege in the Twenty-First Century Guest Post: The Saving for College Challenge, Part One – How Can I Save For College Changes to Common Application Essay Prompts for 2017-18

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Economic Recovery?

Even though the news may be promoting economic recovery, a recent UCLA study showing that middle aged parents aged 50 to 64 are moving back into their elderly parents home with kids in tow for financial reasons – may support a competing meme that shows our current financial state isn’t so rosy.  To further add …