Paying for College

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Why You Need Tuition Insurance Before College Starts 2021

Many college parents have been asking us about tuition insurance. Tuition insurance is an affordable form of protection that reimburses a college student / family if they are forced to complete a withdrawal from college due to a covered reason. Part of the growing interest relates to new forms of tuition insurance that are now available through Allianz and GradGuard. A.W. Dewar's has offered tuition refund insurance for 80+ years, but these new providers have entered developed new approaches to helping families protect the nearly $500 billion invested in a college education annually. Typical tuition insurance programs, which only offer tuition refunds when a student withdraws due to illness, injury, psychological conditions or death.
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Discounts or Scholarships? 50% off a College Education?

It may sound strange, but if your family received a “scholarship” to buy a car would it lead you to buy it?  We encourage college parents to consider the implications for your own college admissions experience and be careful to understand the difference between a true scholarship from what would otherwise be viewed as a […]
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Coverdell ESA

Coverdell ESA – The Best Way to Save for K-12 Education Coverdell ESA (formerly called Education IRA) is the most attractive way to save for K-12 expenses, including UGMA/UTMAs and mutual funds. However, there are income requirements that preclude some upper-income families from participating. Coverdell ESA Primary Benefits for Families Coverdell ESA, in addition to […]
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A Bigger Tax Break on Tuition for College

Who wants more tax breaks? Everybody.Who deserves a greater tax break on the cost of college tuition? All current and future college parents and that means you, the members of College Parents of America.One of our greatest priorities in the coming months will be to push in Congress the dual notion of greater tax deductibility for the cost of college, and universal eligibility for taking advantage of those deductions.
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UGMA/UTMA

Overview Prior to 529 plans, UGMA/UTMA was the most tax efficient manner to save for college and transfer wealth to children and grandchildren. UGMA stands for The Uniform Gifts to Minors Act, and UTMA stands for The Uniform Transfers to Minors Act. UGMA and UTMA are virtually similar in all respects. Purpose of UGMA/UTMA UGMA […]
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Financial Literacy for Parents and Students

Dear Parents:When your children leave home for college, they will face a host of new experiences and responsibilities. As a parent, you recognize that now they will be "on their own" to tackle life's basic functions - at the same time that they are adjusting to a new environment and new freedoms. To help your student in this transition, he/she should know the "financial facts of life" before opening that first checking account or making that first purchase on credit.
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The Path to Influence

Last week, in this column, I wrote about the upcoming “road to reauthorization” for the Higher Education Act, certain provisions of which are already being considered in the U.S. House Education and the Workforce Committee, chaired by Rep. John Boehner of Ohio.
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College Tip: Know the Risks of Paying for College with Plus Loans

If you can’t afford a college without a PLUS loan, then for many parents and families the college is simply not affordable.
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Essential College Question: What will happen if your college student has to withdraw from college?

Essential College Question: What will happen if your college student has to withdraw from college?
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Student Loan Tip: Do cosignors need life insurance to cover your student loans?

According to a recent article by Policy Genius, “The cost of college has skyrocketed over the last decade, resulting in $1.4 trillion of outstanding student loan debt. But college grads aren’t the only ones on the hook for their balances. Per student debt analytics firm MeasureOne, last school year, about 93% of undergraduate private student loans had […]
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Balancing Cash, Savings and Financing Options to Pay for College Costs

You were ecstatic when she was awarded that merit scholarship. Even better when she still got a need-based grant. She accepted the admission offer, and then life was a swirl of senior year ceremonies, graduation, parties, and maximizing her last summer before going off to college. You hadn’t really thought more about college costs until […]
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How to Develop Good Spending Habits in College

Balancing fun and finances is never easy, especially in college. During these memorable years, students should balance their education and social lives.So, what exactly is the best way to ensure you’re setting yourself up for a healthy financial future during and after school? For the most success in developing great spending habits and making intelligent […]
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Parent Loans For College Are Skyrocketing

We value the good work and analysis of the Urban Institute on trends that impact access to the benefits of education. The value of a college degree has never been higher, but as we have often stated the value of a college education must be rational and include a discussion on college affordability for families […]
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FAFSA Tips – Do it Early & Honestly

FAFSA can equal money for college parents. However it is best if you file early and take care to answer honestly. Those are always topics we aim to discuss in a clear and transparent way for college parents.
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FAFSA Tips – Cashing In On College Aid

For parents of high school seniors or college students, Thanksgiving is a good time to complete the FAFSA.  This free online government form unlocks a world of financial aid alternatives for your college student and family.
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Five Practical Financial Tips for College Students

College can be one of the best times of your life, albeit stressful and difficult at times, but a valuable point in one’s personal life and growth.  College can also be one of the most expensive.  As we have written before, the average 2016 college grad left college with $37,172 in student debt.  Here are five practical financial tips for college students.
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FAFSA Tips – Do it Early & Honestly

FAFSA can equal money for college parents. However it is best if you file early and take care to answer honestly. Those are always topics we aim to discuss in a clear and transparent way for college parents.
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Parents Growing Less Confident in Students’ Ability to Finish College; Families Worry About Financial Blow from Temporary Withdrawal

According to the 2018 Allianz Tuition Insurance College Confidence Index, parents are more concerned than a year ago about their child's ability to finish college without needing to withdraw, though students' level of confidence in finishing held steady. However, both still see significant financial implications of an early college withdrawal, estimating a loss of about $10,000. Despite their concern about withdrawal and financial losses, both groups also admit to not being able to recall their college's refund policy.
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Do cosignors need life insurance to cover your student loans?

According to a recent article by Policy Genius, “The cost of college has skyrocketed over the last decade, resulting in $1.4 trillion of outstanding student loan debt. But college grads aren’t the only ones on the hook for their balances. Per student debt analytics firm MeasureOne, last school year, about 93% of undergraduate private student loans had […]
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National Survey of College Parents

We are pleased to share the results of the 2016 biennial survey of college parents. The findings of this report are consistent with our prior the two prior research studies and confirms that “college families are an important source of support for increasing student success and college completion.” The 2016 survey of more than 510 College Parents conducted by College Parents of America through internet channels and subscribers in late June of 2016. We have a high degree of confidence that the survey is directionally correct and will be valuable to colleges and universities as well as other stakeholders interested in increasing rates of college completion.
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FAFSA – Do it Early & Honestly

FAFSA can equal money for college parents. However it is best if you file early and take care to answer honestly. Those are always topics we aim to discuss in a clear and transparent way for college parents.