The College Investor Audio Show

While a Roth IRA is one of the best ways to save for retirement, it can also be used to save for college. A  Roth IRA  is one of the best ways to invest for retirement, since the money inside it grows tax-free and in most cases, withdrawals for retirement come without any tax consequences. It can be an especially great way to save for retirement when you're young and your income is relat...

Eligibility for need-based financial aid depends on the student’s demonstrated financial need.  Structured settlements can change how a student's financial aid is evaluated .  Financial need is the difference between the college’s annual Cost of Attendance (COA) and the student’s Student Aid Index (SAI). In some cases, a structured settlement can be used to shelter settlement money from...

Financial aid can provide students with access to educational options they may not have otherwise had. But sometimes, students are denied additional financial aid, even after making an appeal. If you appealed for additional  financial aid , but your appeal was denied, you still have a few options. In this article, we'll let you know what steps you can take to try and secure more financial aid...

It's a common myth that student loans cannot be discharged in  bankruptcy . However, the U.S. Department of Education has the legal authority to allow a borrower’s federal student loans to be discharged in bankruptcy, in certain circumstances. It has not, however, generally exercised this authority. Instead, it often opposes undue hardship petitions. The general reasoning is that the ava...

A Health Savings Account, or HSA, is arguably the best tax-advantaged account available in the United States. Contributions and qualified withdrawals are tax-free, which makes an HSA perhaps the only way you can earn, invest, and spend without paying taxes. While we don’t usually like to think about it, we’re all going to die someday. Money-savvy folks want to know what happens to their HSAs when...

I thought it would be interesting to look at some of the best investors in modern time. These are all individuals who made significant amounts of money by sticking to solid investment philosophies. If you look at their strategies as well, they aren't very difficult or complex - they stick to basic financials of a company and look for value. If they believe there is value, they invest, and make tid...

For families saving for education expenses, 529 plans remain one of the most flexible and long-lasting options available. Unlike other college savings accounts or financial aid programs,  529 plans do not have time or age limits  for contributions or withdrawals.  However, some states do have different rules that may impact your 529 plan contribution or withdrawal decisions. Remembe...

If you're looking for  passive income ideas , you may think the whole concept is a myth - there's no way that you can earn money by doing nothing. It's why passive income is highly sought after, yet often misunderstood. The truth is, passive income streams require an upfront investment and a lot of nurturing in the beginning. After some time and hard work these income streams start to build a...

A Multigenerational 529, also known as a Dynasty 529 Plan, is a way of using one or more  529 plans  to leave a legacy of education for future generations. A Dynasty 529 Plan can be set up by parents,  grandparents , or other relatives.  With a Dynasty 529 Plan, high net-worth parents save more than is required for their children’s college education, meaning, they can continue...

Even if you don't think you'll receive financial aid, you likely should fill out the FAFSA. According to Sallie How America Pays for College report,  74% of students and families  completed the Free Application for Federal Student Aid, or FAFSA for the 2023-2024 school year. So why are over 25% of students deciding not to apply? They may believe their parents make too much or that they w...

A full-ride scholarship covers the full cost of attendance, including tuition, fees, room and board, books, supplies and equipment. It can include college-specific awards, national programs from private scholarship providers, and athletic scholarships. But while winning a full-ride scholarship is a prestigious accomplishment and significantly eases the cost of paying for college, it's very elusive...

Colleges have been known to withhold college transcripts to recover unpaid debts. But this practice is becoming illegal in some places. For many students and alumni, a college transcript is more than a piece of paper – it’s a gateway to career opportunities, additional education, and professional development. But what happens when a college withholds your transcript? Is it even legal for an instit...

While many types of student loan forgiveness are tax-free federally, several states may levy taxes on student loan forgiveness. Even though some popular programs like Public Service Loan Forgiveness (PSLF) are tax free federally, every state has a different law regarding state taxes on loan forgiveness. The  American Rescue Plan Act of 2021  added an exclusion from income on federal inco...

With the recent reports about colleges providing false information for rankings, could college ranking fraud or misleading financial aid award letters qualify you for student loan forgiveness? Borrower Defense to Repayment can discharge a borrower’s federal student loans when they were  defrauded by their college . But what does the Department of Education define as "defrauded"? With the rece...

If you're looking for additional funds to pay for college, you may be looking at Federal vs. private student loans. After you're admitted to college, you’ll receive a financial aid package that breaks down your cost of attendance minus any grants, scholarships, or other sources of financial aid you’re eligible for. This  financial aid package  includes federal student loans. Many student...

CDs (or certificates of deposit ) are low-risk savings vehicles offered by banks, credit unions and many other financial institutions. Individuals can commit a certain amount of money for a specific period of time, and the issuing bank commits to paying a specified rate of interest. CDs generally have terms ranging from a few months to several years, and usually offer higher yields than savings ac...

Dual enrollment allows you to earn college credit while you’re still in high school. Doing so can help you save money on the total cost of your education while preparing you for a more rigorous course load once you start college. A 529 plan can be used for dual enrollment but there are some things you should be mindful of before you withdraw funds from your account.

If you've come into a windfall of money, you might be wondering what is the best way to invest $50,000 (or even more)? With a large amount of money to invest, you have several different options. There is no single "right answer" that will work for everyone—instead, what works for you will depend on your own unique situation. But being aware of the different options helps you make the best choice....

529 plan performance is tough to measure - it's not just the investment returns, but it's also about the tax benefits and fees. Minimizing costs is usually key to maximizing returns, but not always. Sometimes, state income tax breaks can compensate for the cost of 529 plans with higher fees. So, how can you find the best 529 plan for your state and situation? A more focused analysis of 529 plan po...

Don't you wish you could lower your student loan payment? It's possible, and legal, do work some "magic" to get your student loan payment lower. If you don't do anything with your student loans, you're automatically signed up to a generic repayment plan that typically has even payments for 10 years. However, that can be tough, especially right after graduation. Maybe you've just started working, o...

You know you want to invest. You know you need to invest. But honestly, how do you start investing in your 20s after college? Who do you trust? Do you pay someone to help? How do you know you're not going to be ripped off? Or even worse - how do you know you won't lose all your money? If you want to invest after college, here are our thoughts. For 20-somethings, investing is important, and you kno...

Applying to college may be the most stressful thing you've encountered in your life so far. Depending on the college you're applying to, you may have to submit grade transcripts, test scores, evidence of extracurricular activities , essays, and references.  But one thing that colleges will almost never ask you about is your high school attendance. It's important to note that many high schools...

Our parents had it rough during tax season. Doing their own taxes sometimes took a week or more. They’d spread papers and receipts across the kitchen table. Then they’d punch numbers in a calculator and flip through the IRS’s annual tax guide until ink coated their fingertips. Yikes! Today, thanks to tax software and other innovations, we can do our own taxes with fewer headaches. In fact, doing y...

As you start to consider where you’ll go to college, affordability is typically top of mind. The cost of higher education in the U.S. can be daunting, but understanding financial aid policies – and identifying need-blind colleges – can make the process less overwhelming. If you’re unfamiliar with the term “need-blind,” it refers to an admissions policy in which a college chooses not to consider a...

Christmas is over! Now it's time to handle all of the unwanted Christmas gifts that you're stuck with. Hopefully you have a family full of awesome gift-givers, and you want to keep everything you got. But the fact is, most of our families are terrible gift givers, and you probably have a bunch of Christmas gifts you don't want or need. So what should you do with these unwanted gifts? Well, not all...