Smart College Buyer

Are you a veteran or service member trying to figure out how to send your kid to college?   You probably know there are some serious educational benefits available, but perhaps you aren’t sure how to tap into them or whether you can pass them to your kids.   Today, Kate Horrell and Jack Wang discuss VA Education Benefits’ transfer rules, eligible recipients, and service obligations. Kate Horrell i...

When you’re facing any large purchase, there are two major questions you must answer:   How do I lower the cost?  What’s the best way to pay for it?  While you’ve heard about student loans, 529 plans, and, potentially, other options to help you finance college costs, the best way for YOU to pay for college for your student is likely a unique combination of tools & tax strategies based on your...

Understanding how your credit score works and actively working to improve it can open up doors to better financial opportunities. One of the biggest mistakes college students make when it comes to credit is overspending and not keeping track of their expenses.  My guest today, Brittany Greene, focuses on providing financial education and resources to college students. Through her company, Crown Fi...

It used to be that parents and students had the opportunity to finance higher education with almost no limit to the amount they could borrow.     The H.R.1 - One Big Beautiful Bill Act, changes that. It imposes new limits to parent financing and student loans. In particular, capped borrowing for graduate students at $50,000 per year for professional studies and $20,000 for other programs.   With P...

Student loan debt is a topic that affects millions of people across the country. It's a financial burden that many individuals face as they pursue higher education, and the impact can be long-lasting. Whether you're a recent graduate or have been out of school for years, understanding student loan debt is crucial to managing your finances effectively.  "It wasn't that simple of just drawing up dif...

Choosing a college where your student will thrive is about much more than the school’s name, ranking, prestige, or reputation. Research from Purdue University and Gallup highlights that aspects like caring professors, supportive learning environments, and experiential learning opportunities hold more weight in determining a student's college experience.  Finding the Right College Fit for Academic...

Planning for your child's college education can be a daunting task, but utilizing a 529 plan can make it a little easier. These tax-advantaged savings plans are specifically designed to help families save for future education expenses. One option within the 529 plan umbrella is the College Well Private College 529 Plan, which offers its own set of unique advantages.  529 Plans: A Potential Long-Te...

How do factors like major, gender, and ethnicity influence whether your child receives financial aid?  Understanding the typical college business model is crucial. The college financial aid formula is a multifaceted and strategic system that determines how aid is distributed to students. It comprises loans, scholarships, and other forms of gift aid. Highly competitive schools prioritize need-based...

Financial education in youth sets the stage for a lifetime of financial responsibility.  Teaching teens to save for emergencies is vital for unexpected costs. Unfortunately, most teens don’t want to listen to their parents...that’s where a financial coach who specializes in budgeting for teens and young adults comes in.   Colleen Salchow of Salchow Coaching patiently works with teenagers to set as...

Paying for college extends beyond the simple calculation of tuition and fees, encompassing a range of hidden expenses that many prospective students and their families often overlook. Jack Wang offers a nuanced perspective on this topic by highlighting the often-ignored costs such as taxes, interest, and opportunity costs, which can significantly inflate the overall financial burden of obtaining a...

With the right strategies and early preparation, you can maximize your child’s chances of getting into your (or their) dream school and securing scholarships. Students should begin preparing for standardized tests like the SAT or ACT well in advance, paying special attention to their grades even as a Freshman in High School. This will allow you and your student to have time to review content, prac...

Do your college funding goals entail covering private tuition or a portion of in-state tuition? The answer could be the key to your “best” saving strategy.   "You can save using almost anything. There is the easy option and then there is the right or best option for your family." - Jack Wang (00:19:53)  There are various opportunities for tax-sheltered college savings account like 529 plans and IR...

Did you know there are over 80 student loan forgiveness programs in the US?   While student loan forgiveness programs are great, it’s imperative to understand the eligibility requirements and have open discussions about the costs and value of higher education expenses. Federal and Private student loans should be treated differently, and all student loans should be treated differently than other co...

The topic of college affordability has become increasingly pressing as tuition costs continue to rise, leaving many families grappling with the challenge of financing higher education.  The best thing you can do for your college-bound teen is plan for college expenses using 3 critical financial figures:   What colleges expect you to pay  What you can realistically afford  What you are willing to s...

Don’t JUST rely on your child’s high school counselor for advice on college admissions and financial aid.   Planning for college should begin early, ideally in the freshman year of high school, with a focus on understanding the financial aspects that influence financial aid eligibility. Junior year is a pivotal time for taking the PSAT and exploring college options, while senior year is dedicated...

Financial aid formulas can often feel like a daunting and mysterious process when applying for college. With terms like FAFSA, CSS, and need-based aid eligibility floating around, it's easy to feel overwhelmed. However, understanding how these formulas work is crucial for securing the financial assistance you need to pursue higher education.  Jack Wang advocates for early and strategic financial p...

With tuition costs skyrocketing and student debt becoming a major concern, it's more important than ever to have a game plan when it comes to funding your education.   Through firsthand experiences visiting colleges and engaging with admissions and financial aid officials, Jack Wang underscores the importance of being proactive and informed in securing financial assistance effectively.   As a stud...